Market Newsdesk

BRIDGEWATER, N.J., Nov. 13, 2020 (GLOBE NEWSWIRE) — Clinical Genomics (“CG” or the “Company”), a provider of cancer diagnostic solutions, including liquid biopsy tests, today announced that Novitas Solutions (“Novitas”), a Medicare Administrative Contractor (“MAC”) processing claims for Medicare, updated its Local Coverage Determination applicable to biomarkers in oncology, including COLVERA, the Company’s liquid biopsy test to detect biomarkers associated with minimal residual disease and recurrence for patients who have been diagnosed and treated for colorectal cancer (“CRC”).

Novitas updated the Local Coverage Determination (“LCD”): Biomarkers for Oncology (L35396) to allow Medicare coverage for COLVERA for medically necessary tests performed on or after July 1, 2020. This determination applies to patients across the United States covered by the Centers for Medicare and Medicaid Services (“CMS”) whose claims for testing are submitted by Clinical Genomics in New Jersey. Medicare beneficiaries currently account for more than 50% of the COLVERA tests ordered by physicians and other licensed clinicians.

Subsequent to the publication of the updated coverage determination, Clinical Genomics has received payment for numerous COLVERA tests that meet appropriate use criteria.

“Receiving Medicare coverage for COLVERA represents a significant milestone for our Company, as we advance toward full commercialization of this important diagnostic. Over the past several years, our employees, both in the U.S. and Australia, in partnership with our academic and physician collaborators, have worked very hard to build the evidence base that supports the clinical validity and utility of COLVERA. We would also like to thank the patients who participated in our clinical trials for their efforts to help us expand access to this potentially life-saving test,” stated Betsy Hanna, CEO of Clinical Genomics.

“This is an important achievement for CG and positions us well to advance our commercial expansion plans, including building awareness of COLVERA’s clinical advantages over the current guidelines-recommended standard of care and pursuing reimbursement for patients covered under a wide range of health insurance plans,” concluded Hanna.

COLVERA is a blood test that detects aberrant methylation in two genes, BCAT1 and IKZF1, found at a high frequency (>95%) in colorectal cancer (CRC) tumor tissue. Identification of these tumor-specific epigenetic changes within a blood sample provides a simple, non-invasive way to detect the presence of CRC-associated circulating tumor DNA (ctDNA).

COLVERA can aid physicians in managing patients previously diagnosed with CRC and treated with curative intent who are undergoing follow-up testing to assess the presence of residual or recurrent CRC. COLVERA has been demonstrated in multiple peer-reviewed studies in the U.S. and Australia to offer significantly improved performance compared to the current guidelines-recommended standard of care blood test, carcinoembryonic antigen (CEA).¹

About
Clinical Genomics

Clinical Genomics is dedicated to improving patient outcomes through early detection of colorectal cancer. Clinical Genomics’ products span the full spectrum of colorectal cancer testing from screening to post-treatment monitoring. Clinical Genomics is committed to developing and delivering solutions that provide physicians and their patients with information to help guide earlier and better treatment decisions in cancer care management.

About COLVERA

COLVERA is a Laboratory Developed Test supplied by Clinical Genomics Pathology Inc. a CLIA Certified, CAP accredited laboratory in Bridgewater, NJ, USA. COLVERA is the first of its kind blood test to detect circulating tumor DNA for molecular residual disease (“MRD”) assessment and recurrence monitoring in patients previously diagnosed with colorectal cancer. COLVERA targets aberrant methylation of two genes (BCAT1 and IKZF1) and is mutation agnostic. COLVERA does not require any form of tissue biopsy prior to use. Introduced in 2017, COLVERA has been ordered by hundreds of colorectal surgeons and medical oncologists across the United States.

About Colorectal Cancer

Colorectal cancer is the third most commonly diagnosed cancer and the second leading cause of cancer-related deaths in the United States, with more than 140,000 people per year expected to be diagnosed with CRC and over 50,000 succumbing to the disease annually. For patients who survive, 30%-50% will experience a recurrence, most within the first two to three years of primary treatment. On average, the lifetime risk of developing colorectal cancer is about one in 23 for men and women combined; however, this varies widely according to individual risk factors.

Future Matters and
Forward Looking
Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements that address expectations or projections about the future, including statements about product development, market position, expected expenditures and financial results, are forward-looking statements. Some of the forward-looking statements may be identified by words like “expects,” “anticipates,” “plans,” “intends,” “projects,” “indicates,” and similar expressions. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Accordingly, the Company’s actual results or performance may differ significantly, positively or negatively, from forward-looking statements made herein. Unanticipated events and circumstances are likely to occur. Factors that might cause such differences include, but are not limited to, anticipated funding proving to be unavailable; intense competition in the market resulting in lower than anticipated revenues or higher than anticipated costs; and general economic conditions, such as the rate of employment, inflation, interest rates and the condition of the capital markets. This list of factors is not exclusive. The Company undertakes no obligation to update any forward-looking statements.

Investor Relations for
Clinical Genomics
:

Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: [email protected] 

COLVERA is a trademark of Clinical Genomics PTY Ltd.

¹ See Musher, Benjamin L. et al. “Evaluation of Circulating Tumor DNA for Methylated BCAT1 and IKZF1to Detect Recurrence of Stage II/Stage III Colorectal Cancer (CRC),” Cancer Epidemiology and Prevention Biomarkers (2020); and Symonds, Erin L. et al. “Circulating epigenetic biomarkers for detection of recurrent colorectal cancer,” Cancer 126.7 (2020): 1460-1469.

CAMBRIDGE, Mass. and ROSTOCK, Germany and BERLIN, Nov. 13, 2020 (GLOBE NEWSWIRE) — CENTOGENE (Nasdaq: CNTG), a commercial-stage company focused on rare diseases that transforms real-world clinical and genetic data into actionable information for patients, physicians, and pharmaceutical companies, today announced the nomination of Dr. Jonathan G. Sheldon as a member of the Supervisory Board, which will be proposed to the shareholders at an upcoming Extraordinary General Meeting (EGM). Dr. Sheldon will also serve with immediate effect as a member ad interim of the Company’s Supervisory Board.

“We are excited to welcome Dr. Jonathan G. Sheldon as a new member of the Supervisory Board. Jonathan has been instrumental in building QIAGEN’s leading data interpretation offerings for scientific and clinical decision support. We look forward to benefiting from his contributions as we advance the use of CENTOGENE’s data repositories, which we believe to be by far the most comprehensive collection of such data in rare diseases,” stated Dr. Flemming Ornskov, Chairman of the Supervisory Board of CENTOGENE.

Dr. Sheldon serves as Senior Vice President of the Digital Insights Business Area at QIAGEN N.V. (Nasdaq: QGEN; Frankfurt: QIA), a leading provider of molecular sample and assay technologies. Since 2018, he led QIAGEN’s Digital Insights global business. Prior to this, Jonathan served as Global Vice President at Oracle Health Sciences from 2010-2017.

About CENTOGENE

CENTOGENE engages in diagnosis and research around rare diseases transforming real-world clinical and genetic data into actionable information for patients, physicians, and pharmaceutical companies. Our goal is to bring rationality to treatment decisions and to accelerate the development of new orphan drugs by using our extensive rare disease knowledge, including epidemiological and clinical data, as well as innovative biomarkers. CENTOGENE has developed a global proprietary rare disease platform based on our real-world data repository with over 3.6 billion weighted data points from approximately 570,000 patients representing over 120 different countries as of August 31, 2020.

The Company’s platform includes epidemiologic, phenotypic, and genetic data that reflects a global population, and also a biobank of these patients’ blood samples. CENTOGENE believes this represents the only platform that comprehensively analyzes multi-level data to improve the understanding of rare hereditary diseases, which can aid in the identification of patients and improve our pharmaceutical partners’ ability to bring orphan drugs to the market. As of August 31, 2020, the Company collaborated with over 40 pharmaceutical partners covering over 45 different rare diseases.

Important Notice and Disclaimer

This press release contains statements that constitute “forward looking statements” as that term is defined in the United States Private Securities Litigation Reform Act of 1995, including statements that express the Company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. Examples include discussion of our strategies, financing plans, growth opportunities and market growth. In some cases, you can identify such forward-looking statements by terminology such as “anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project” or “expect,” “may,” “will,” “would,” “could” or “should,” the negative of these terms or similar expressions. Forward looking statements are based on management’s current beliefs and assumptions and on information currently available to the Company. However, these forward-looking statements are not a guarantee of our performance, and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other variable circumstances, such as negative worldwide economic conditions and ongoing instability and volatility in the worldwide financial markets, the effects of the COVID-19 pandemic on our business and results of operations, possible changes in current and proposed legislation, regulations and governmental policies, pressures from increasing competition and consolidation in our industry, the expense and uncertainty of regulatory approval, including from the U.S. Food and Drug Administration, our reliance on third parties and collaboration partners, including our ability to manage growth and enter into new client relationships, our dependency on the rare disease industry, our ability to manage international expansion, our reliance on key personnel, our reliance on intellectual property protection, fluctuations of our operating results due to the effect of exchange rates or other factors. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of the Company’s control and could cause its actual results to differ materially from those it thought would occur. The forward-looking statements included in this press release are made only as of the date hereof. The Company does not undertake, and specifically declines, any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law.

For further information, please refer to the Risk Factors section in our Annual Report for the year ended December 31, 2019 on Form 20-F filed with the SEC on April 23, 2020, Form 6-K containing our financial results for the three months ended March 31, 2020, filed with the SEC on June 15, 2020 and other current reports and documents filed with the U.S. Securities and Exchange Commission (SEC). You may get these documents by visiting EDGAR on the SEC website at www.sec.gov.

Media Contact:

CENTOGENE

Ben Legg
Corporate Communications
[email protected]

FTI Consulting

Bridie Lawlor O’Boyle
+1.917.929.5684
[email protected]

WYOMISSING, Pa., Nov. 13, 2020 (GLOBE NEWSWIRE) — Carl Pettinato was only 17 when he enlisted in the US Navy. He served with honor from 1969 to 1971. While serving in Vietnam his patrol boat hit an underwater landmine. He was blown into the water suffering a broken back and severe head injuries. He was saved by a helicopter medic who pulled him out of the water. Sadly, several of his fellow shipmates and close friends lost their lives that day. After suffering these almost life ending injuries he was honorably discharged.

Over the years the injury to his back has taken its toll. He has rods and pins in his back, has to walk with a cane, and can no longer stand up straight. Due to the constant pain from his back, he takes several different medications which has caused dry mouth and overtime that led to him losing his teeth. Sadly, the VA does not cover dentures let alone dental implants. So, when Carl heard about Berks Oral Surgery’s Veteran’s Day Benefit program, he wrote to them and asked for a new smile.

The Veterans Day Benefit program was started by Berks Oral surgery in 2017. Dr. David Winans started this program to help a local veteran restore their dentition. “Our practice has an immense appreciation for the men and women who have and continue to serve our country. We understand that many veterans struggle greatly with their oral health and it weighs heavily on their self-esteem. This is our small way of saying thank you for your sacrifice. It is truly a team effort, with many local members of the dental community joining in to make this a reality,” said Dr. Winans. This year Berks Oral Surgery also teamed up with Neocis, the maker of Yomi Robotics System to create a new smile for Mr. Pettinato.

Mr. Pettinato’s surgery was performed by Dr. Dave Winans and was done with the assistance of the Yomi Robotic Surgery System. Yomi is the first and only FDA cleared robotic assisted dental surgery system. Berks Oral Surgery is a pioneer in the field of dental robotics. Successfully placing dental implants requires careful pre-operative planning and a high degree of accuracy and precision.  Surgical robotic technology helps doctors to achieve these objectives. “Mr. Pettinato has given so much for his country I really wanted to ensure he has the best smile possible,” said Dr. Winans.

“I am really excited to have a new smile and I am looking forward to the self confidence that will come with being able to smile again,” said Mr. Pettinato.

About Berks Oral Surgery and Implant Center

Berks Oral Surgery, Ltd. is a full spectrum Oral and Maxillofacial Surgery practice of the highest quality, with special emphasis on dental implants. This year they are celebrating the 45th anniversary of their practice. They were founded by the late Dr. James J. Ciabattoni (1932-1994) in 1975. In that same year he was joined by Dr. Erwin H. Wolf, II and Dr. John J. Ciabattoni. Dr. Andrew M. Rowan joined the group in 1989 and Dr. Fred J. Ciabattoni came aboard in 1991. Dr. Steven D. Fallon joined the practice in 2007. Since 2013 three new doctors have joined the group: Dr. David L. Winans (2013), Dr. Geoffrey S. Zinberg (2015) & Dr. Ryan Calvi (2020). All of their doctors are Board Certified by the American Board of Oral and Maxillofacial Surgery. At Berks Oral Surgery their doctors have a combined experience of over 115 years!

About Neocis, Inc.

Neocis Inc. is a private company located in Miami, Florida that is transforming dental surgery with advanced robotics, with a vision of advancing healthcare through the latest technology. Neocis manufactures and markets Yomi®, the first and only robot-assisted surgical platform for the dental industry. Yomi uses haptic guidance and is also a computerized navigational system intended to provide assistance in both the planning (pre-operative) and the surgical (intra-operative) phases of dental implantation surgery. The system provides software to preoperatively plan dental implantation procedures and provides navigational guidance of the surgical instruments. Yomi is intended for use in partially edentulous and fully edentulous adult patients who qualify for dental implants. Neocis is venture-backed, including funding from Mithril Capital Management, Norwest Venture Partners, and robotic surgery industry pioneer Fred Moll. For more information visit www.Neocis.com.

Contacts:

Mike Hale
Berks Oral Surgery and Implant Center
Practice Administrator
610-374-4093
[email protected]

Cassie Hallberg
Vice President of Marketing, Neocis
(732) 688-8839
[email protected]

TORONTO, Nov. 13, 2020 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint”) announced that each of the Ninepoint 2019 Flow-Through Limited Partnership (the “2019 Partnership”), Ninepoint 2019 Short Duration Flow-Through Limited Partnership (the “2019-II Partnership”) and Ninepoint 2020 Flow-Through Limited Partnership (the “2020 Partnership”, and together with the 2019 Partnership and the 2019-II Partnership, the “Partnerships” and each a “Partnership”), each managed by Ninepoint, will be proceeding with a tax-deferred transfer of the assets of the Partnership into Ninepoint Resource Class, a class of shares of Ninepoint Corporate Class Inc., an open-ended mutual fund corporation (the “Mutual Fund Rollover Transactions”). In exchange for the assets of the 2019 Partnership and the 2019-II Partnership, Ninepoint Resource Class will issue Series F shares to the Partnership, which will be distributed to limited partners of each Partnership in exchange for their limited partnership units of the Partnership. 

In exchange for the assets of the 2020 Partnership, Ninepoint Resource Class will issue Series A and Series F shares to the Partnership, which will be distributed to limited partners of the Partnership in exchange for their Class A and Class F limited partnership units of each of the National and the Québec portfolio of the Partnership.  Ninepoint has elected to conduct a Mutual Fund Rollover Transaction for the 2020 Partnership in advance of the liquidity event originally anticipated in early 2022 because it is expected that the 2020 Partnership will soon realize all tax benefits through its investment in resource issuers that have renounced their Canadian Exploration Expenses to the Partnership and accordingly limited partners can be provided with an earlier liquidity event during expected favourable market conditions.

Limited partners will receive shares of Ninepoint Resource Class with a value equal to the value of the units of the Partnership that they hold in exchange for such units.  The Mutual Fund Rollover Transactions will take place on or about February 5, 2021 after the close of business.  The Partnerships will be dissolved on or about March 31, 2021.

The investment objective of Ninepoint Resource Class is to seek to achieve long-term capital growth by investing primarily in equity and equity-related securities of companies in Canada and around the world that are involved directly or indirectly in the natural resources sector. Ninepoint is the manager of the Partnership and Ninepoint Resource Class. Sprott Asset Management LP is the sub-advisor to Ninepoint Resource Class.

Additional information about Ninepoint Resource Class is available in the simplified prospectus and annual information form of the fund at www.sedar.com and www.ninepoint.com.

About Ninepoint Partners LP

Based in Toronto, Ninepoint is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including North American Equity, Global Equity, Real Assets and Alternative Income.

If you have any questions or concerns, please do not hesitate to contact us at 1-866-299-9906 and [email protected].

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expects”, “will” and similar expressions to the extent that they relate to a Partnership. The forward-looking statements are not historical facts but reflect the Partnership’s and Ninepoint’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Partnership and Ninepoint believe the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Partnership, nor Ninepoint undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Tactile Systems Technology, Inc. (NASDAQ: TCMD) between May 7, 2018 and June 8, 2020, inclusive (the “Class Period”).

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=tactile-systems-technology-inc&id=2470 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email [email protected] for information on the class action.

如果您想加入这个集体诉讼案，请在这里提交您的信息。http://zhanginvestorlaw.com/join-action-form/?slug=tactile-systems-technology-inc&id=2470

If you wish to serve as lead plaintiff, you must move the Court before the November 30, 2020 DEADLINE.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. 

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (a) while Tactile publicly touted a $4 plus billion or $5 plus billion market opportunity, in truth, the total addressable market for Tactile’s medical devices was materially smaller; (b) to induce sales growth and share gains, Tactile engaged in illegal sales and marketing activities; and (c) Tactile’s revenues were in part the product of unlawful conduct and thus unsustainable.

Lead plaintiff status is not required to seek compensation.  You may retain counsel of your choice.  You may remain an absent class member and take no action at this time.

Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
[email protected]
tel: (800) 991-3756

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Alibaba Group Holdings (NYSE: BABA), Peak Fintech Group (OTC:PKKFF) (CSE: PKK) and FansUnite (OTC: FUNFF) (CSE: FANS) DraftKings Inc. (NASDAQ: DKNG).

Accelerating digital transformation is the tailwind driving new revenue growth opportunities as leaders leverage the Cloud, and AI in sectors as diverse as sports betting to commercial lending, and shopping. Wall Street Reporter highlights the latest comments from industry thought leaders:

DraftKings Inc. (NASDAQ: DKNG), CEO Jason Robins: “Huge Pent-up Demand for Sports Betting”

“…As sports have started to return, we saw revenue improve sequentially each month in the quarter, with June revenue increasing 20% year-over-year on a pro forma basis. This strong overall results and improvement are due to our product innovation, our entry into new jurisdiction, and pent-up demand for sports betting as Live Sports like Golf, European Soccer, NASCAR and UFC started to return. In the first two weeks of MLBs return, we saw three times the handle compared to the first two weeks of the 2019 MLB season. In the first week of the NHL’s return, our handle is more than twice the handle of first week of 2019 NHL playoff…”

“…We significantly expanded our eSports offering and have seen exponential growth in this category. We added popular Madden simulated games and began to include streaming sports within our app, which has become a very popular feature. In fact, since the return of the NHL, the NBA, and Major League Baseball, users have continued to engage with eSports, which gives us confidence in that product’s future….We believe eSports is going to be a huge category – it’s when not if…we believe ultimately eSports betting will be if not the biggest, certainly one of the biggest categories of sports betting over the long-term.”

DraftKings (NASDAQ: DKNG) Earnings Call Highlights:


https://bit.ly/2Hg4wcV

FansUnite (OTC: FUNFF) (CSE: FANS) “Positioned for Exponential Revenue Growth in iGaming, E-sports, Online Sports Betting”

In a recent presentation at Wall Street Reporter’s NEXT SUPER STOCK livestream, FansUnite (OTC: FUNFF) (CSE: FANS) CEO Scott Burton explained how the company’s latest distribution deal with a online casino games aggregator, sets the stage for exponential revenue growth opportunities. In the next 12 months, FUNFF plans to expand its current line from three games to twelve – while adding multiple aggregators for each game – reaching millions of new online casino customers worldwide. With each game generating as much as $500,000 in revenue per month for FUNFF – per online casino – and the potential to be in hundreds of online casinos – these numbers can quickly add up. Watch FansUnite (OTC: FUNFF) NEXT SUPER STOCK livestream: https://bit.ly/37O1RlX

Nov 5 – FUNFF’s wholly-owned UK Sportsbook McBookie achieves record 433% increase in revenue and 713% increase in gross margin in October 2020 compared to October 2019. Much of the growth was attributed to the unveiling of McBookie’s live casino games and increased activity in sports betting which resulted in $7.3M in total betting volume being placed during the month.

Watch FansUnite (OTC: FUNFF) NEXT SUPER STOCK livestream:


https://bit.ly/37O1RlX

Peak Fintech Group (OTC:PKKFF) (CSE: PKK) CEO Johnson Joseph: “China Fintech Revenues Ready to Explode”

NEXT SUPER STOCK conference presenter Peak Fintech Group (OTC:PKKFF) (CSE: PKK) CEO Johnson Joseph, recently spoke with Wall Street Reporter’s investor audience about PKKFF fast growing China fintech business which connects small-medium business with commercial lending solutions. Joseph explained how Peak Fintech has already gained significant traction, generating over C$7.2 million revenue in Q 2020, and is now ready to start scaling revenues as it enters new markets in coming months.

Watch PKKFF Next Super Stock livestream video:


https://bit.ly/3ku9otb

November 6 – PKKFF hires former People’s Bank of China senior manager, Mr. Wenjun Wu, as a special advisor to assist the Company in various business development capacities and in preparing the Company’s Cubeler Lending Hub platform for China’s upcoming digital currency. Mr. Wu is currently the CEO of Chengfangyun Digital Technology Ltd. (CDT), a Fintech company located in Suzhou that he created to provide products and services designed to help companies, banks and financial institutions conduct transactions in digital yuan. Prior to founding CDT, Mr. Wu was a senior manager at the People’s Bank of China (PBOC), China’s Central Bank, where he worked in the Credit Information Centre and Cross-border RMB Settlement departments while also leading the R&D department of the Central Bank’s Nanjing branch. CDT is currently working closely with the PBOC to promote the use and adoption of the digital yuan in Suzhou.

October 20 – PKKFF signed an exclusive agreement with the parent company of national consumer electronics distributor Beijing Dianjing Company Ltd. (“BDC”) to bring financing solutions to BDC’s 60,000 online retail clients.

BDC is a wholesale distributor of consumer electronics whose online retail clients sell laptops, smartphones and other consumer electronic products on China’s top three e-commerce portals: Tmall, JD.com and Pinduoduo. BDC’s clients, who collectively sell about $50B worth of consumer electronics per year, will be able to have up to 90% of the price of the products they purchase from BDC financed. Peak typically earns service fees ranging from 1% to 3% of the value of the credit amounts it helps facilitate, and this represents a total market opportunity of up to $1.35B in annual revenue potential.

Click here to join NEXT SUPER STOCK livestream:


https://bit.ly/3ku9otb

Alibaba Group Holdings (NYSE: BABA) Daniel Zhang CEO: “Big Growth Opportunities in Cloud and Southeast Asia”

In the latest earnings call, Alibaba CEO Daniel Zhang highlighted Alibaba Cloud and expansion in Southeast Asia as important new growth areas:

Cloud Opportunities: “…The pandemic is accelerating demand for cloud infrastructure and services. According to IDC’s latest report, Alibaba Cloud maintained its position as the largest public cloud service provider in China, which is a testament to Alibaba Cloud’s strengthening market leadership. In the June quarter, our cloud computing revenue grew 59% year-over-year in sectors such as Internet, financial services, consumer retail and public services. Alibaba Cloud not only provides infrastructure as a service but also develops industry-specific technology and business solutions to address real-world application requirements for our customers…the China cloud market is going to be somewhere in the $15 billion to $20 billion total size range, and the U.S. market is about 8x that. So the China market is still at a very early stage…”

Southeast Asia Strategic Growth Priority: “…Southeast Asia market is our strategic priority for Alibaba’s globalization strategy…The pandemic has significant impact on many Southeast Asian countries, and it has converted many consumers into online shoppers. We believe the increasing adoption of online shopping is beneficial for healthy growth of the region’s e-commerce industry over the long term… And I think when we look at our Lazada’s operation, we expect to build a more tech-driven, AI-driven sustainable business. Actually, today, in this market, the competition is very extensive, and the people invest and even certifies the buyers, sellers, even shipping fees and trying to get the short-term growth. But we strongly believe we need to build a long-term, sustainable business and so our advantage is, first is about Alibaba technology infrastructure and especially our experience and know-how and technologies in the AI and in the search and recommendation and the supply and demand match mechanism…”

Alibaba (NYSE: BABA) Q1 2021 Earnings Call Highlights:


https://bit.ly/3dZ8vXT

WALL STREET REPORTER

Wall Street Reporter (Est. 1843) is the leading financial news provider, focused on giving investors direct access to CEO’s of promising, publicly-traded companies, and market experts. www.WallStreetReporter.com

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