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Naspers Limited (JSE: NPN; LSE: NPSN) Today Announced Strong Results for the Six Months Ended 30 September 2020

Naspers Limited (JSE: NPN; LSE: NPSN) Today Announced Strong Results for the Six Months Ended 30 September 2020

CAPE TOWN, South Africa–(BUSINESS WIRE)–
Naspers Limited (JSE:NPN) (LSE:NPSN):

The group recovered well from a tough first quarter to accelerate revenue growth, improve profitability and cash-flow generation.

Strong performance in uncertain times:

  • Group revenue grew 32% to US$13.0bn (HY20: US$10.2bn), with strong growth across food delivery, etail and education.

    • Prosus revenues grew 32% to US$12.7bn (HY20: US$9.9bn)
    • 141% revenue growth of food delivery
    • 69% revenue growth in etail
    • 54% revenue growth in edtech
  • Group trading profit increased by 42% to US$2.6bn (HY20: US$1.9bn).
  • Core headline earnings were US$1.6bn (HY20: US$1.7bn) driven by improved profitability from our ecommerce units and the growing contribution from Tencent. The year-on-year 5% decrease reflects that Naspers owns 72.66% of Prosus in the current financial year and owned 100% in the prior year.
  • Free cash flow jumped from US$19m to US$292m driven by lower food losses, strong working-capital management, and US$81m increase in Tencent dividend.

Bob van Dijk, Group Chief Executive Officer, commented:

“Our strong performance reflects the resilience and adaptability of the group and of our teams to effectively navigate challenging times. We entered the pandemic with financial strength and good momentum and in the second half of the period, our businesses recovered well from the initial impact of Covid-19 and are now fundamentally stronger than they were going into the pandemic.

The pandemic has accelerated activity in the consumer internet space, benefitting our businesses. We have seen particularly strong growth in food delivery, online payments, etail, and edtech and, throughout the period, we continued to invest for long-term growth. Looking ahead, we will continue to look after our people and support the communities we serve through uncertain times and we are focused on emerging well from the pandemic.”

Several companies had stand out performances:

  • iFood grew revenues by 234% YoY with KPIs including order frequency and order value hitting record levels.
  • PayU GPO grew revenues 48% as people used cashless payment methods.
  • Udemy grew enrolments more than 400%.
  • BYJU’S saw 180% growth in students on top of already high growth rates.

Disciplined investment for long-term growth:

  • Invested ~US$600m to strengthen our businesses.
  • Classifieds

    • Merged letgo and OfferUp in the US and led a US$120m investment round for a 35% fully diluted stake in the combined business which is well-positioned for growth with national reach.
    • Injected our MENA classifieds assets into EMPG (Emerging Markets Property Group) for a 39% fully diluted stake and participated in a US$150m financing round valuing the business at over US$1bn.
    • Post the end of the period, OLX Brazil closed the US$520m acquisition of leading real-estate vertical Grupo Zap, announced in March 2020.
  • Payments and fintech

    • Additional investment of US$53m in Remitly.
  • Edtech

    • Stepped up our total investment to more than US$1bn and seven companies in this fast-growing sector.

Strong balance sheet:

  • Net cash position of US$4.6bn.
  • Undrawn US$2.5bn revolving credit facility.
  • In July, Prosus successfully raised more than US$2bn in debt, comprising its longest-dated US dollar offering to date and its debut euro notes offering.

Basil Sgourdos, Group Chief Financial Officer, said:

“The group delivered strong results, with group revenues growing 32% to US$13bn, trading profit growing 42% to US$2.6bn, and core headline earnings of US$1.6bn.

Despite a tough first quarter, strong recovery in the second quarter resulted in ecommerce revenue growth of 52% for the reporting period compared to the same period last year. Notably, food delivery nearly doubled revenue growth while trading losses improved by US$91m.

We remained disciplined on capital allocation and ended the period with a strong balance sheet, giving us financial flexibility as we move forwards. Given our strong cash position, the full market valuations in consumer internet M&A and a widening of our consolidated discount to net-asset-value, after the end of the period we announced a substantial US$5bn buy back of our own stock to invest in our strong portfolio and return value to shareholders. We remain fully focused on value creation through delivering continued long-term growth and by reducing the discount.”

Donations to support government responses to Covid-19

On 30 March 2020, Naspers committed R1.5 billion of emergency aid in support of the South African government’s response to the Covid-19 pandemic. This commitment has been delivered, with R500 million donated to government’s Solidarity Fund, and R1 billion worth of PPE provided to South Africa’s front-line healthcare workers.

The group also donated ₹1bn in India to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund created by Prime Minister Narendra Modi to alleviate the suffering of those affected by the Covid-19 crisis and to aid India’s emergency response.

Phuthi Mahanyele-Dabengwa, CEO, South Africa:

“Naspers is deeply committed to South Africa. We believe our country’s technology ecosystem has a vibrant future with many attributes supporting growth in this sector: access to technology talent, a relatively low cost of doing business, and a society that is digitising rapidly. We are seeing this play out in the growth of ecommerce, fintech, and education technology platforms. Through Naspers Foundry, we are proud to invest in the next wave of home-grown tech businesses and we are excited by a rich pipeline of prospects. We will continue to support South Africa on the road to economic recovery and inclusive growth.”

Outlook

The current operating environment remains uncertain and the longer-term social and economic impact of Covid-19 is unclear. The group is on a solid financial footing and the fundamentals of the underlying businesses are strong, with all well-positioned to build on the accelerating shift to online triggered by the pandemic.

Management remains focused on value creation for shareholders through driving profitability and cash generation in the group’s more-established ecommerce businesses, while investing for growth in food delivery, classifieds transactions, credit, and edtech.

In recent months, the group’s consolidated discount to net-asset-value has widened and management is committed to addressing the structural issues causing this.

On 30 October 2020, the group announced its intention for Prosus to acquire up to US$5bn of Prosus and Naspers shares. This will be implemented by the acquisition of up to US$1.4bn Prosus N ordinary shares and US$3.6bn Naspers N ordinary shares on the market. The program will be executed in an optimal manner that can comfortably be done in the market.

The complete results are available at www.naspers.com/investors

Follow Naspers on LinkedIn

-ends-

Notes on the numbers

  • All growth percentages are shown in local currency terms and adjusted for acquisitions and disposals.
  • All amounts are shown on an economic-interest basis (i.e. including a proportionate consolidation of the contribution from associates and joint ventures).
  • Naspers owns 72.66% of Prosus.

About Naspers

Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world. Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has its primary listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.

In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies in the country. These include Takealot, Mr D Food, Superbalist, OLX, Autotrader, Property24 and PayU, in addition to Media24, South Africa’s leading print and digital media business.

Naspers is also focused on stimulating South Africa’s local tech sector through Naspers Foundry. This is a R1.4 billion investment targeting early stage technology companies in South Africa that seek to address big societal needs. To help address youth unemployment in impoverished communities, in 2019, Naspers launched Naspers Labs, a social impact programme for young, unemployed South Africans aged between 17 and 25. Located in low income, urban settings, Naspers Labs provide a structured development journey enabling young people to enter the economy.

Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has an ADR listing on the London Stock Exchange (LSE: NPSN).

For more information, please visit www.naspers.com

Naspers Foundry

Naspers Foundry is an early-stage business funding initiative focused on technology entrepreneurs in South Africa. Over the past year, Naspers Foundry invested R30 million in SweepSouth, an online home and business cleaning services platform that connects clients with trusted, reliable cleaners.

Visit www.sweepsouth.com for more information.

After year-end, in May 2020, Naspers Foundry invested a further R100 million in Aerobotics, an agritech company that provides tree crop health and yield intelligence data to the agricultural industry using drone and satellite-enabled AI technology.

Visit www.aerobotics.com for more information.

In September this year, Naspers Foundry closed a transaction in Food Supply Network on undisclosed terms. The independent B2B marketplace integrates ordering systems of manufacturers, distributors, and buyers (restaurants, hotels and retailers) of food products.

Visit https://foodsupply.co.za/za/ for more information.

Naspers Labs

Naspers Labs is the group’s flagship social impact programme designed to transform and launch South Africa’s unemployed youth into economic activity. Currently in its pilot phase, Naspers has invested R69 million in Naspers Labs and has set up four labs. To date, 2,030 young people have completed the Naspers Labs programme and 956 employment placements have been made. As a result of Covid-19, Naspers Labs is expanding their offering to train youth in Cyber Security, Software Development and Cloud Computing, through remote learning.

Visit www.nasperslabs.org for more information.

For more information on our results please contact:

Eoin Ryan

Head of Investor Relations

Tel: +1 347-210-4305

Email: [email protected]

Sarah Ryan

Media Relations, International

Mobile: +31 6 297 21038

Email: [email protected]

Shamiela Letsoalo

Media Relations, South Africa

Mobile +27 78 802 6310

Email: [email protected]

KEYWORDS: Africa United States South Africa North America

INDUSTRY KEYWORDS: Online Retail Retail Technology Other Retail Other Technology Internet

MEDIA:

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Prosus N.V. (Prosus) (Euronext Amsterdam: PRX; JSE: PRX) Today Announced Strong Results for the Six Months Ended 30 September 2020

Prosus N.V. (Prosus) (Euronext Amsterdam: PRX; JSE: PRX) Today Announced Strong Results for the Six Months Ended 30 September 2020

AMSTERDAM–(BUSINESS WIRE)–
The group recovered well from a tough first quarter to accelerate revenue growth, improve profitability and cash-flow generation.

Strong performance in uncertain times:

  • Revenues increased 32% to US$12.7bn (HY20: US$9.9bn), with strong growth across food delivery, etail and education.

    • 141% revenue growth in food delivery
    • 70% revenue growth in etail
    • 54% revenue growth in edtech

  • Trading profit grew by 43% to US$2.7bn (HY20: US$1.9bn).

  • Core headline earnings increased 29% to US$2.2bn (HY20: US$1.7bn) driven by improved profitability from our ecommerce units and the growing contribution from Tencent.

  • Free cash flow jumped from US$14m to US$370m driven by lower food losses, strong working-capital management, and US$81m increase in Tencent dividend.

Bob van Dijk, Group Chief Executive Officer, commented:

“Our strong performance reflects the resilience and adaptability of the group and of our teams to effectively navigate challenging times. We entered the pandemic with financial strength and good momentum and in the second half of the period, our businesses recovered well from the initial impact of Covid-19 and are now fundamentally stronger than they were going into the pandemic.

“The pandemic has accelerated activity in the consumer internet space, benefitting our businesses. We have seen particularly strong growth in food delivery, online payments, etail, and edtech and, throughout the period, we continued to invest for long-term growth. Looking ahead, we will continue to look after our people and support the communities we serve through uncertain times and we are focused on emerging well from the pandemic.”

Several companies had stand out performances:

  • iFood grew revenues by 234% YoY with KPIs including order frequency and order value hitting record levels.
  • PayU GPO grew revenues 48% as people used cashless payment methods.
  • Udemy grew enrolments more than 400%.
  • BYJU’S saw 180% growth in students on top of already high growth rates.

Disciplined investment for long-term growth:

  • Invested ~US$600m to strengthen our businesses.
  • Classifieds

    • Merged letgo and OfferUp in the US and led a US$120m investment round for a 35% fully diluted stake in the combined business, which is well-positioned for growth with national reach.
    • Injected our MENA classifieds assets into EMPG (Emerging Markets Property Group) for a 39% fully diluted stake and participated in a US$150m financing round valuing the business at over US$800m.
    • Post the end of the period, OLX Brazil closed the US$520m acquisition of leading real estate vertical Grupo Zap, announced in March 2020.
  • Payments and fintech

    • Additional investment of US$53m in Remitly.
  • Edtech

    • Stepped up our total investment to more than US$1bn and seven companies in this fast-growing sector.

Strong balance sheet:

  • Net cash position of US$4.3bn.
  • Undrawn US$2.5bn revolving credit facility.
  • In July, Prosus successfully raised more than US$2bn in debt, comprising its longest-dated US dollar offering to date and its debut euro notes offering.

Basil Sgourdos, Group Chief Financial Officer, said:

“The group delivered strong results, with revenues growing 32% to US$12.7bn, trading profit growing 43% to US$2.7bn, and core headline earnings increasing 29% to US$2.2bn.

“Despite a tough first quarter, strong recovery in the second quarter resulted in ecommerce revenue growth of 51% for the reporting period compared to the same period last year. Notably, food delivery nearly doubled revenue growth while trading losses improved by US$91m.

“We remained disciplined on capital allocation and ended the period with a strong balance sheet, giving us financial flexibility as we move forwards. Given our strong cash position, the full market valuations in consumer internet M&A and a widening of our consolidated discount to net-asset-value, after the end of the period we announced a substantial US$5bn buyback of our own stock to invest in our strong portfolio and return value to shareholders. We remain fully focused on value creation, through delivering continued long-term growth and by reducing the discount.”

Outlook

The current operating environment remains uncertain and the longer-term social and economic impact of Covid-19 is unclear. The group is on a solid financial footing and the fundamentals of the underlying businesses are strong, with all well-positioned to build on the accelerating shift to online triggered by the pandemic.

Management remains focused on value creation for shareholders through driving profitability and cash generation in the group’s more-established ecommerce businesses, while investing for growth in food delivery, classifieds transactions, credit, and edtech.

In recent months, the group’s consolidated discount to net-asset-value has widened and management is committed to addressing the structural issues causing this.

On 30 October 2020, the group announced its intention for Prosus to acquire up to US$5bn of Prosus and Naspers shares. This will be implemented by the acquisition of up to US$1.4bn Prosus N ordinary shares and US$3.6bn Naspers N ordinary shares on the market. The program will be executed in an optimal manner that can comfortably be done in the market.

The complete results are available at www.prosus.com/investors.

Follow Prosus on LinkedIn.

Notes on the numbers

  • All growth percentages are shown in local currency terms and adjusted for acquisitions and disposals.
  • All amounts are shown on an economic-interest basis (i.e. including a proportionate consolidation of the contribution from associates and joint ventures).

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

The group is focused on building meaningful businesses in the online classifieds, food delivery, and payments and fintech sectors in markets including India, Russia and Brazil. Through its ventures team, Prosus invests in areas including edtech and health, Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to improve people’s daily lives.

Every day, millions of people use the products and services of companies that Prosus has invested in, acquired or built, including Avito, Brainly, BYJU’S, Bykea, Codecademy, DappRadar, dott, ElasticRun, eMAG, Eruditus, Honor, iFood, Klar, LazyPay, letgo, Meesho, Movile, OLX, PayU, Red Dot Payment, Remitly, SimilarWeb, Shipper, Skillsoft, SoloLearn, Swiggy, and Udemy.

Hundreds of millions of people have made the platforms of its associates a part of their daily lives. For listed companies where we have an interest, please see: Tencent (www.tencent.com; SEHK:00700), Mail.ru (www.corp.mail.ru; LSE:MAIL), Trip.com Group Limited (“Trip.com”) (NASDAQ:TCOM), and DeliveryHero (www.deliveryhero.com; Xetra:DHER).

Today, Prosus companies and associates help improve the lives of around a fifth of the world’s population.

Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and a secondary listing on the Johannesburg Stock Exchange (XJSE:PRX), and is majority owned by Naspers.

For more information, please visit www.prosus.com.

For more information on our HY2021 year results please contact:

Eoin Ryan

Head of Investor Relations

Tel: +1 347-210-4305

Email: [email protected]

Sarah Ryan

Media Relations, International

Mobile: +31 6 297 21038

Email: [email protected]

Shamiela Letsoalo

Media Relations, South Africa

Mobile +27 78 802 6310

Email: [email protected]

KEYWORDS: Russia South Africa South America Africa Brazil North America United States Asia Pacific Europe India Netherlands California

INDUSTRY KEYWORDS: Data Management Technology Other Retail Restaurant/Bar Training Other Construction & Property Food/Beverage Construction & Property Retail Other Professional Services Finance Banking Professional Services Other Technology Other Education Continuing University Software Education Online Retail

MEDIA:

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Trina Solar Purchases 1.2 Billion units of 210mm Monocrystal Silicon Wafers in Cooperation with Zhonghuan

PR Newswire

CHANGZHOU, China, Nov. 23, 2020 /PRNewswire/ — On 19 November 2020, Changzhou Trina Solar Energy Co., Ltd. (hereinafter Trina Solar) and Tianjin Zhonghuan Semiconductor Co., Ltd., (hereinafter Zhonghuan) signed a framework contract. Under the contract, Trina Solar intends to purchase 210mm monocrystal silicon wafers from Tianjin Huanou International Silicon Material Co., Ltd., a subsidiary of Zhonghuan. During the proposed procurement period between January 2021 and December 2021, the estimated total contract value is about 6.552 billion yuan (including tax) with no less than 1.2 billion pieces.

Gao Jifan, Chairman of Trina Solar, and Shen Haoping, General Manager of Zhonghuan, attended the signing ceremony held at Trina Solar’s headquarters in Changzhou.

Gao Jifan, Chairman of Trina Solar, said that the procurement of more than 1.2 billion units of 210mm monocrystal silicon wafers will provide a strong guarantee to implement the capacity planning of Trina Solar’s 210mm PV cells and modules, and to supply the offerings of Vertex ultra-high-power modules, meeting more customer demands for ultra-high-power modules in a timely manner. In this way, Trina Solar will be better positioned to create greater value for their customers. The photovoltaic industry has entered the 600W+ era with the technology further iterating and developing at an accelerated speed. Module design has always centered around the premise of improving system efficiency and reducing the cost of electricity generated per kilowatt hour. Additionally, module design thinking also necessitates breakthrough innovation, which is not only based on existing capacity and technology updates, but also on revolutionary application of new silicon wafer and battery technologies. Collaborative innovation between companies is needed to completely connect core areas such as R&D, manufacturing and application, so that the industrialization and marketization of modules can be accomplished more rapidly to generate profit and value for end customers. This is an inevitable trend in the progressive development of the industry.

Zhonghuan is a Chinese high-tech enterprise in the semiconductor energy-saving and new energy industry. It is also one of the manufacturers with the most complete range of monocrystal silicon products. The general manager, Shen Haoping, said, “Zhonghuan is in pursuit of long-term steady development, maintaining competitiveness in segment markets and achieving long-term success. The company upholds the professional spirit of serving customers and focusing on main businesses, attaching great importance to quality control. We look forward to achieving synergetic development with upstream and downstream enterprises in the photovoltaic industry chain, creating breakthroughs in areas such as manufacturing methods and technological innovation.”

Companies from all segments in the industrial chain are working toward a common goal, which is to promote the cost reduction of photovoltaic systems and electricity generated per kilowatt hour, and to continuously drive down the feed-in tariff. Together with Zhonghuan in the future, Trina Solar will further strengthen technical exchanges and cooperation, conduct corresponding technical research and product development, drive technological innovation in the photovoltaic industry, and expand the influence and application of advanced technologies in the photovoltaic industry to bring about a broader value-added space to the industry in the aim of jointly promoting the development of global new energy industry.


About Trina Solar 

Founded in 1997, Trina Solar is the world leading PV and smart energy total solution provider. The company engages in PV products R&D, manufacture and sales; PV projects development, EPC, O&M; smart micro-grid and multi-energy complementary systems development and sales, as well as energy cloud-platform operation. In 2018, Trina Solar launched Energy IoT brand, established the Trina Energy IoT Industrial Development Alliance together with leading enterprises and research institutes in China and around the world, and founded the New Energy IoT Industrial Innovation Center. With these actions, Trina Solar is committed to working with its partners to build the energy IoT ecosystem and develop an innovation platform to explore New Energy IoT, as it strives to be a leader in global intelligent energy. For more information, please visit 

www.trinasolar.com

.
 

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SOURCE Trina Solar

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Clean Power Capital Announces Appointment of Leading Clean Energy Entrepreneur Greg Nuttall to the PowerTap Advisory Board

VANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) — Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”). The Company is pleased to appoint Mr. Greg Nuttall to the advisory board of PowerTap Hydrogen Fueling Corp. (“PowerTap”), its 90 percent owned subsidiary.

Mr. Nuttall is one of the founding CEO’s of the world’s first waste-to-fuel company. As CEO of Toronto-based Woodland Biofuels (www.woodlandbiofuels.com) (“Woodland”), Mr. Nuttall has taken Woodland’s ground breaking automotive fuel technology from drawing board to proven production. Along the way he has forged relationships around the globe with governments, key financial players, oil and gas companies, engineering & construction firms, and feedstock providers. Woodland has raised significant institutional capital from USA and Canadian cleantech funds, strategic investors, and Canadian governments.

Prior to becoming CEO of Woodland, Mr. Nuttall was a partner at Rubicon Investment Group, a merchant bank focused on accelerating the growth of the companies it acquires and invests in. Before this Mr. Nuttall was co-founder and CEO of a leading management consulting firm that helps large and mid-sized organizations in Canada and the United States. At the outset of his career Mr. Nuttall was an M&A and corporate finance lawyer. As a lawyer he practiced at Clifford Chance, one of the world’s largest law firms, where he was based in London, and at Torys, a leading corporate law firm based in Toronto. Mr. Nuttall earned his Master of International Laws degree at Cambridge University and is a Pegasus Scholar.

“I’m excited to work with PowerTap Hydrogen Fueling Corp. as they roll out hydrogen fueling stations using their leading PowerTap fueling technology. Hydrogen has immense potential as a transport fuel. Most important, renewable hydrogen reduces GHG emissions substantially compared to gasoline. One of the main obstacles to hydrogen’s adoption has always been the lack of fueling infrastructure to deliver it to end users – this has created a huge opportunity for PowerTap‘s technology,” Mr. Nuttall said. He continued, “I look forward to helping PowerTap capitalize on this opportunity – to start, by helping to develop key strategic partnerships in North America and around the world.”

“Greg Nuttall is a visionary in the clean fuel industry and we are honored to have him join our Advisory Board as we look to deploy our PowerTap onsite hydrogen generation and fueling technology across North America and beyond,” said Mr. Raghu Kilambi, CEO of PowerTap Hydrogen Fueling Corp. “Mr. Nuttall will introduce to PowerTap existing relationships with large North American truck stop and gas station operators, North American cleantech funds and other strategic relationships that he has developed over the past 15 years in clean fuel energy.”

Director Resignation

Clean Power also announces that Mr. Joe Perino has resigned from the board of directors of the Company, effective immediately. The Company would like to thank Mr. Perino for his contributions to the Company and wishes him well with his current projects.

About
PowerTap

The Company acquired a 90 percent interest in PowerTap on October 27, 2020 (see the Company’s news release on October 28, 2020). PowerTap is leading the charge to build out cost-effective hydrogen fueling infrastructure through its environmentally friendly intellectual property, product design for the modularized and lowest tier production cost of hydrogen, and launch plan. PowerTap technology-based hydrogen fueling stations are located in private enterprises and public stations (near LAX airport) in California, Texas, Massachusetts, and Maryland. Additional information about PowerTap may be found at its website at http://www.powertapfuels.com

ABOUT CLEAN POWER CAPITAL CORP.

Clean Power is an investment company, that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in our investments. A copy of Clean Power’s amended and restated investment policy may be found under the Company’s profile at www.sedar.com.

ON BEHALF OF THE CLEAN POWER CAPITAL CORP. BOARD OF DIRECTORS

“Joel Dumaresq”

Joel Dumaresq CEO
+1 (604) 687-2038
i[email protected]

Learn more about Clean Power by visiting our website at: https://cleanpower.capital/

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Notice Regarding Forward Looking Information:

This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Clean Power. Some assumptions include, without limitation, the development of hydrogen powered vehicles by vehicle makers, the adoption of hydrogen powered vehicles by the market, legislation and regulations favoring the use of hydrogen as an alternative energy source, the Company’s ability to build out its planned hydrogen fueling station network, and the Company’s ability to raise sufficient funds to fund its business plan. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Company to complete any potential investments or acquisitions, if at all, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.

 



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New Report Reveals How the Covid Crisis Could Set Back a Generation of Women in Business

New Report Reveals How the Covid Crisis Could Set Back a Generation of Women in Business

Mastercard Index of Women Entrepreneurs demands innovative, gender-specific support for women throughout pandemic recovery

PURCHASE, N.Y.–(BUSINESS WIRE)–
Women across the world have been disproportionally impacted by the Covid-19 pandemic – a staggering 87% of women business owners say they have been adversely affected. Over representation in sectors hardest hit by the economic downturn, the pronounced digital gender gap in an increasingly virtual world, and the mounting pressures of childcare responsibilities are only a few factors that have left women particularly vulnerable.

In tackling this stark disparity and unlocking the fullest potential of women in business, the Mastercard Index of Women Entrepreneurs (MIWE) 2020 report findings make a compelling case for building on targeted gender-specific policy best practices internationally.

Gender-targeted policies drive forward women’s entrepreneurial success

Now in its fourth year, the MIWE highlights the vast socio-economic contributions of women entrepreneurs across the world, as well as providing insight on the factors driving and inhibiting their advancement. Through a unique methodology – drawing on publicly available data from leading international organisations, such as the OECD and International Labour Organization – MIWE 2020 includes a global ranking on the advancement of women in business in pre-pandemic conditions across 58 economies, representing almost 80% of the female labour force.

MIWE 2020’s top performing economy is a prime example of gender-specific support mechanisms having swift and significant results. For the first time in the MIWE’s history, Israel tops the charts as the best economy for women entrepreneurs worldwide, advancing from 4th place in 2019. With an ambition to double the number of female entrepreneurs within two years, Israel’s success has been driven by a focussed institutional backing for SMEs – its ‘Support for SMEs’ ranking catapulted from 42nd place in 2019, to 1st in 2020. Similarly, Switzerland has advanced from 11th position in 2019, to 3rd overall in 2020, spurred on by sharp improvement in government-led support for SMEs (up 37% from 2019) and a resulting uptick in cultural perceptions of entrepreneurialism (up 45% from 2019).

Covid-19 has posed set-backs, but also opportunity

MIWE 2020 also provides initial analysis on the ramifications of Covid-19 on women at work, and draws out effective support policies. Although differing from economy to economy, those proving most effective include expansive relief measures for SMEs – from wage subsidies to furlough schemes and fiscal bailouts – as well as state childcare support.

Crucially, the report presents an optimistic outlook for the future of women entrepreneurs. It indicates that the pandemic could prove a catalyst for exponential progress for women in business and an opportunity to course-correct inherent gender bias. It draws on a number of points to illustrate this, notably:

  • The Covid-19 era presents an empowering narrative for women in leadership, providing inspiration at a time when cultural barriers and fear of failure still impede some women from business ventures.Covid-19 has highlighted women’s ability to lead under extraordinary circumstances. Female world leaders such as Prime Minister Jacinda Ardern of New Zealand, Chancellor Angela Merkel of Germany and Prime Minister Sanna Marin of Finland have presided over some of the most successful efforts in containing Covid-19 while instilling order, assurance, trust and calm. With almost half (47.8%) of female entrepreneurs report being driven by a desire to contribute to the greater societal good, the impact these leaders have cannot be underestimated.
  • Women in business are already demonstrating marked adaptability, despite extensive barriers to success.On the frontline, women business owners are adapting to the new world of work with renewed confidence. 42% have shifted to a digital business model and 34% have identified new business opportunities since the pandemic.
  • The ‘next normal’ presents a once in a lifetime opportunity to remove existing barriers, driving greater gender participation and parity for women in business.As well as magnifying severalfold the many disparities women in business face – from the digital gender gap to financial inclusion – Covid-19 has been an intense stimulus for structural progress. For example, prior to the pandemic, the financial global gender disparity had remained static for almost a decade. However, Covid-19 has propelled progress in this area – with the UK government setting up bank accounts for over 1.2 million people in just two days at the height of the pandemic, and over 11 million informal workers in Brazil applied for saving accounts in order to receive emergency government funds.

The report notes that implications of these observations are profound. It further demonstrates the untapped value of women as leaders and, critically, highlights the role of the pandemic in expediating progressive solutions. Leveraging this momentum and championing gender-specific initiatives will be critical to realising women’s potential and winding down the $172 trillion lost globally (World Bank) due to the differences in lifetime earnings between women and men.

Mastercard’s commitment to driving forward inclusion

Sue Kelsey, Executive Vice President, Global Consumer Products and Financial Inclusion, Mastercard said: “A crisis will always reveal vulnerabilities in the system, and Covid-19 has done that in spades. We have seen the staggering extent of the disparity women in business face. But unlike any other economic downturn, Covid-19 has also paved the way for considerable progress and we have seen what we can be achieved when priority is given. However, are we brave enough to seize the opportunity, to listen to the data outlined in MIWE 2020 and act accordingly? Or will we cling on to a failed system, and allow the pandemic to shave off progress to date?

“These are critical questions decisions makers need to have at the fore as they plan their road to economic recovery. Collectively, governments, financial services and business organizations need to ensure they are offering the right support programmes, solutions and innovation to enable female entrepreneurs the opportunity to thrive in the world’s new normal.”

The MIWE report is just one component in Mastercard’s broader mission to drive forward the advancement of the disconnected and disadvantaged, with a particular commitment to support and help advance female entrepreneurs and small businesses through initiatives such as its Start Path and Path to Priceless programmes. In 2020, Mastercard expanded its worldwide financial inclusion commitment, pledging to bring a total of one billion people and 50 million micro and small businesses into the digital economy by 2025. As part of this effort, there will be a direct focus on providing 25 million women entrepreneurs with solutions that can help them grow their businesses, through a range of initiatives crossing funding, mentoring and the development of inclusive technologies.

Download the Mastercard Index of Women Entrepreneurs 2020 report and supporting assets here. Read more about our efforts to engage, enable and empower women here.

MIWE methodology

The Mastercard Index of Women Entrepreneurs provides world-leading analysis on how women in business are progressing across 58 global economies. Representing almost 80 percent of the international female labour force, the MIWE provides deep-dive analysis on the socioeconomic factors propelling and inhibiting their success.

Through a unique methodology – involving detailed analysis across 12 indicators and 25 sub-indicators spanning Advancement Outcomes, Knowledge Assets & Financial Access, and Supporting Entrepreneurial Conditions – the index ranks 58 individual economies according to performance over the past year. Aggregating these scores, the index is able to provide an overall grading of how successful individual economies are in advancing female entrepreneurialism in comparison to peers in pre-Covid conditions.

This year’s report also provides additional analysis on the early ramifications of emergency measures implemented by governments and business for women entrepreneurs in response to the Covid-19 pandemic across 40 global economies.

The Mastercard Index of Women Entrepreneurs findings provide clarity and understanding for governments, policymakers, stakeholders, businesses and individuals alike wishing to understand the crucial role of women in business and apply learnings from global economies.

About Mastercard

Mastercard (NYSE: MA) is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 economies, we are building a sustainable world that unlocks priceless possibilities for all.

Rose Beaumont | +44 (20) 7557 5199| [email protected]

Julia Monti | +1 (914) 249 6135| [email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Professional Services Consumer Small Business Women Finance Banking

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New book shares insights on how to build great teams and develop a new level of teamwork in organizations

Leo Bottary releases ‘Peernovation: What Peer Advisory Groups Can Teach Us about Building High-Performing Teams’

CARLSBAD, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) — Author Leo Bottary continues his mission to leverage the power of peers both in business and in life. Following up his two self-improvement books, he now releases “Peernovation: What Peer Advisory Groups Can Teach Us about Building High-Performing Teams” (published by Archway Publishing).

 

“Peernovation” combines the words peer (people) and innovation (creativity realized). It embraces lessons from more than a decade of academic research, fieldwork and personal experiences throughout North America and the United Kingdom. “In today’s divisive society, we need to reassure business leaders and their employees that we’re all in this together. Realizing our greatest aspirations will only happen if we embrace our diversity and work as one. By leveraging best practices from CEO and executive peer advisory groups, ‘Peernovation’ shows us how to do that, whether our teams work virtually or in-person,” Bottary states. The book is designed for leaders who want to coach engaged, adaptable and higher-performing teams. Here, they will learn to:

  • select the right people for your team
  • create psychological safety and inspire greater productivity
  • build a positive culture of accountability
  • become a better team leader
  • foster a robust learning-achieving cycle

 

Forbes publisher and futurist Rich Karlgaard noted, “In a post-COVID world, and with the emergence of AI across even more industries, “Peernovation” reminds us of what doesn’t change – our humanity and our ability to collaborate and create. These will be the keys to thriving in the decades to come.”

 

Visit https://www.archwaypublishing.com/en/bookstore/bookdetails/810115-peernovation to purchase a copy of the book.

 

“Peernovation: What Peer Advisory Groups Can Teach Us about Building High-Performing Teams”

By Leo Bottary

Hardcover | 6 x 9in | 160 pages | ISBN 9781480895683

Softcover | 6 x 9in | 160 pages | ISBN 9781480895669

E-Book | 160 pages | ISBN 9781480895676

Available at Amazon and Barnes & Noble

 

About the Author

Leo Bottary is the founder and managing partner of Peernovation, LLC. A popular author, keynote speaker and workshop facilitator, Bottary is an instructor for Rutgers University and an opinion columnist for CEOWORLD Magazine. He is the co-author of “The Power of Peers: How the Company You Keep Drives Leadership Growth & Success” and author of “What Anyone Can Do: How Surrounding Yourself with the Right People Will Drive Change, Opportunity, and Personal Growth.” He earned a bachelor’s degree from Jacksonville University, a master’s degree from Seton Hall, and completed his doctoral coursework in organizational leadership at Northeastern. For a complete detail about the author and his works, visit leobottary.com.

Simon & Schuster, a company with nearly ninety years of publishing experience, has teamed up with Author Solutions, LLC, the worldwide leader in self-publishing, to create Archway Publishing. With unique resources to support books of all kind, Archway Publishing offers a specialized approach to help every author reach his or her desired audience. For more information, visit www.archwaypublishing.com or call 844-669-3957.

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Archway Publishing
844-669-3957
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NetDragon Wins the Bloomberg Businessweek/Chinese Edition’s “Listed Enterprises of the Year 2020” Award

HONG KONG, Nov. 23, 2020 (GLOBE NEWSWIRE) — NetDragon Websoft Holdings Limited (“NetDragon” or “the Company”, Hong Kong Stock Code: 777), a global leader in building internet communities, is pleased to announce that the company has received the “Listed Enterprises of the Year 2020” award at the fifth “Listed Enterprises of the Year 2020” event hosted by the Chinese Edition of Bloomberg Businessweek. The award honours listed enterprises with excellent performance and recognizes their contribution to Hong Kong’s economy. It represents international recognition for NetDragon’s outstanding performance in education and gaming.

Hong Kong is a leading IPO centre in the world as an international financial hub. As a leading business magazine in the region, the Chinese Edition of Bloomberg Businessweek presented the fifth “Listed Enterprises of the Year 2020” event this year. Winners must pass the selection by Bloomberg terminal based on eight criteria, including business/financial performance, corporate governance, investor relationship, development strategy, corporate social responsibility, sustainability, innovation and risk management, and then be assessed by a panel of judges to become “Listed Enterprises of the Year 2020”. This year, it invited 10 leaders from governmental organizations, academic and professional bodies to form the panel of judges. The event was well attended by various listed companies and the winners are all leading companies from a wide range of industries.

The honour of receiving the “Listed Enterprises of the Year 2020” award is a recognition of NetDragon’s business strategy and investment value by the capital market and professional investors. The company has leveraged its strength in technology as well as research and development accumulated over the years in building online communities to proactively expand its reach in the global education market. As the pandemic has accelerated the development of online education this year, the company’s online learning platforms have gained tens of millions of monthly active users, and its blended learning solutions and technology have received tremendous recognition and support by many countries, such as Egypt, Russia, Thailand and Ghana, which have seen the positive impact on their respective pedagogy. Going forward, the company will continue to drive rapid business growth and utilize technology to empower education, with a bid to promote education digitalization globally and education equality.

About
NetDragon
Websoft
Holdings Limited

NetDragon Websoft Holdings Limited (HKSE: 0777) is a global leader in building internet communities with a long track record of developing and scaling multiple internet and mobile platforms that impact hundreds of millions of users, including previous establishments of China’s first online gaming portal, 17173.com, and China’s most influential smartphone app store platform, 91 Wireless.

Established in 1999, NetDragon is one of the most reputable and well-known online game developers in China with a history of successful game titles including Eudemons Online, Heroes Evolved and Conquer Online. In recent years, NetDragon has also started to scale its online education business on the back of management’s vision to create the largest global online learning community, and to bring the “classroom of the future” to every school around the world. For more information, please visit www.netdragon.com.

For investor enquiries, please contact:
NetDragonWebsoft Holdings Limited
Ms. Maggie Zhou
Senior Director of Investor Relations
Tel.: +852 2850 7266 / +86 591 8390 2825
Email: [email protected]
Website: ir.nd.com.cn

 



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Former Texas Instruments Executive, Bing Xie Joins Huami’s Board as Independent Director

PR Newswire


BEIJING and CUPERTINO, Calif., Nov. 22, 2020/PRNewswire/ — Huami Corp. (NYSE: HMI) today announced that it appointed Mr. Bing Xie, former Texas Instruments (TI) executive officer and senior vice president of worldwide sales and applications, as an independent director on Huami’s board. Mr. Xie will serve on the board’s Audit, Compensation, Nominating, Corporate Governance and the AI and Big Data Ethics Committees.

Over a 21-year career at Texas Instruments, Mr. Xie most recently led the worldwide sales and applications teams. He was previously TI’s president of Greater China (China, Taiwan, Hong Kong). Mr. Xie started his career at Hewlett-Packard, and later joined Bay Networks and 3Com. He has lived and worked in China, Italy, America and Canada. Mr. Xie holds a bachelor of science degree in electronics engineering from Xidian University, and an MBA from Clemson University.

“I am very happy that Xie Bing can join the board of directors,” said Wang Huang, chairman and CEO of Huami Corp.” He has extensive experience and global vision obtained from working with Texas Instruments. With his leadership, I believe he can help Huami better lay out the company’s strategy toward the smart IOT industry, and further promote the implementation of our health and medical strategies.”

Mr. Xie joins current standing board members Mr. De Liu, co-founder and a senior vice president of Xiaomi; Dr. Hongjiang Zhang, retired chief executive officer of Kingsoft (a Hong Kong listed company 03888.HK), former chief technology officer of Asia-Pacific R&D and Distinguished Scientist at Microsoft; Mr. Jimmy Lai, retired chief financial officer of China Online Education Group; Ms. Yunfen Lu, co-founder and vice president of Huami Corp.; and Mr. Xiaojun Zhang, co-founder and vice president of Huami Corp.

About Huami Corporation (NYSE: HMI)

Huami’s mission is to connect health with technology. Since its inception in 2013, Huami has developed a platform of proprietary technology including AI chips, biometric sensors, and data algorithms, which drive a broadening line of smart health devices for consumers, and analytics services for industry. In 2019, Huami shipped 37 million smart watches and fitness bands, including its own Amazfit brand, and products developed and manufactured for Xiaomi, comprising 23% of global category shipments[1] . Huami Corp is based in Hefei, China, with U.S. operations, Huami-USA, based in Cupertino, Calif.

For more information, please visit https://www.huami.com/investor/pages/company-profile

[1] IDC, Correcting and Replacing Shipments of Wearable Devices, 3/10/20

For investor and media inquiries, please contact:

In China:
Investors: Grace Zhang, [email protected]
Media: Ken Cao, [email protected]

In the United States:
Investors: Brad Samson, [email protected], 714-955-3951
Media: Lydia Huang, lydia.huang@huami-usa.com, 407-800-5625

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SOURCE Huami Corporation

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BIOMARIN 48 HOUR DEADLINE ALERT: ClaimsFiler Reminds Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against BioMarin Pharmaceutical Inc. – BMRN

BIOMARIN 48 HOUR DEADLINE ALERT: ClaimsFiler Reminds Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against BioMarin Pharmaceutical Inc. – BMRN

NEW ORLEANS–(BUSINESS WIRE)–
ClaimsFiler, a FREE shareholder information service, reminds investors that they have only untilNovember 24, 2020 to file lead plaintiff applications in a securities class action lawsuit against BioMarin Pharmaceutical Inc. (NasdaqGS: BMRN), if they purchased the Company’s securities between February 28, 2020 and August 18, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.

Get Help

BioMarin investors should visit us at https://www.claimsfiler.com/cases/view-biomarin-pharmaceutical-inc-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

BioMarin and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) differences between the Phase 1/2 and Phase 3 study for its drug candidate, valoctocogene roxaparvovec, limited the reliability of the Phase 1/2 study to support the drug’s durability of effect; (ii) as a result, it was foreseeable that the FDA would not approve the Biologics License Application for valoctocogene roxaparvovec without additional data; and (iii) as a result of the foregoing, BioMarin’s statements were materially false and misleading at all relevant times

The case is Tsantes v. BioMarin Pharmaceutical Inc., et al, 20-cv-06719.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

ClaimsFiler

Lewis Kahn, 844-367-9658

https://www.claimsfiler.com

KEYWORDS: Louisiana United States North America

INDUSTRY KEYWORDS: Legal Professional Services

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OneConnect Launches “Linked Port” in China’s Greater Bay Area

PR Newswire

SHENZHEN, China, Nov. 22, 2020 /PRNewswire/ — OneConnect Financial Technology Co., Ltd. (“OneConnect” or the “Company”) (NYSE: OCFT), an associate of the Ping An Group, and China Merchants Group recently launched the Guangdong-Hong Kong-Macao Greater Bay Area Port Logistics and Trade Facilitation Blockchain Platform Project for the ports Shekou and Shunde.

The “linked port” technology ecosystem for the two ports is the first step to ultimately improve cross-border trade efficiency across the whole Greater Bay Area, one of the world’s largest port zones. With increasing container throughput and cross-border trade, it is vital for the Greater Bay Area to integrate its 37 ports to remain competitive.

The technology project is part of the new infrastructure plan promoted by the Shenzhen municipal government and other governmental departments.

In a promising pilot, 200 twenty-foot equivalents (TEUs) of real goods were imported and exported between the Shekou and Shunde ports. The technology linking the two ports reduced import and export-related logistics processes from five to seven days to just two days. Transportation and customs declaration costs for enterprises also fell by 30%.

The integrated technology linking trade participants operating in the Greater Bay Area will improve communication, streamline port clearance processes and enhance the overall competitiveness of ports within the region.

The linked port project will use advanced technologies, including blockchain, big data, artificial intelligence (AI) and cloud computing, to help create smart ports, and enable smart regulation, smart trade and smart finance processes. OneConnect is a technical supporter of the project. It constructed the core port logistics data standards and the blockchain platform.

Using these technologies, trade participants will be able to connect with customs officials efficiently through a shared blockchain network across the Greater Bay Area. Trade participants will be able to swiftly identify the authenticity of any trade transaction through the validation of cross-border trade-related information registered on the blockchain.

The project focuses on four areas: smart ports, smart regulation, smart trade and smart finance. China Merchants Group’s port in Western Shenzhen will act as a key smart port that allows sharing of resources through blockchain technology, promoting efficient logistics and creating a digital ecosystem for port shipping in the Greater Bay Area.

Smart regulation will improve cooperation between custom officials and enterprises with a collaborative customs clearance process. Two separate customs declaration procedures will be simplified into one, with cross-validation capabilities made possible by blockchain technology and real-time information capture through Internet of Things (IoT)-based processes.

Trading enterprises will also benefit from smart trade solutions for convenient customs clearance, efficient logistics and digital finance, which will create a trust-based, convenient, efficient, and traceable trading environment. Digital financial services such as export tax rebate financing and cross-border e-commerce financing will enhance integrated trade finance services in the Greater Bay Area and build up core competitiveness.

As data on the blockchain cannot be tampered with and allows for automatic cross-verification with the data being encrypted, OneConnect will ensure the logistics data can be traceable and impossible to change. The linked port will greatly enhance authentication processes for logistics and transportation.

The platform will also issue real-time warnings to assist the customs departments in managing any sensitive data regarding ships, containers and cargo.

About OneConnect

OneConnect is a leading technology-as-a-service platform for financial institutions in China. The Company’s platform provides cloud-native technology solutions that integrate extensive financial services industry expertise with market-leading technology. The Company’s solutions provide technology applications and technology-enabled business services to financial institutions. Together they enable the Company’s customers’ digital transformations, which help them increase revenue, manage risks, improve efficiency, enhance service quality and reduce costs.

Our technology-as-a-service platform strategically covers multiple verticals in the financial services industry, including banking, insurance and asset management, across the full scope of their businesses – from sales and marketing and risk management to customer services, as well as technology infrastructure such as data management, program development, and cloud services.

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SOURCE OneConnect