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China’s Guangdong stresses high-quality development at beginning of 2023

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News provided by

GDToday

Jan 28, 2023, 13:41 ET

GUANGZHOU, China, Jan. 28, 2023 /PRNewswire/ — The Guangdong government held a grand conference on high-quality development on January 28, the first working day after the Chinese New Year holiday, and gathered more than 25 thousand major government officials and business leaders online and offline to share their plans for 2023.

“High-quality development is an inevitable path for Guangdong to achieve modernization. The province has a large population and limited resources, which means it’s unwise to compete with its global counterparts on cheap land supply, product price and labor cost,” Huang Kuiming, Party Chief of Guangdong, addressed at the conference.

To pursue high-quality development, Wang Weizhong, Governor of Guangdong, highlighted critical projects and platforms construction, enhancement of the real economy and the manufacturing industry, coordinated development between urban and rural areas, enhancement of the efficiency of finance serving the real economy, expansion of all-around opening up, creation of an international, market-oriented, and law-based business environment.

More specific policies and plans have been announced at the event, echoing the call on high-quality development.

Ai Xuefeng, Director General of Guangdong’s Development and Reform Commission, said that in 2023, Guangdong has arranged 1530 provincial key projects with a total investment of 8.4 trillion RMB. The annual planned investment will reach 1 trillion RMB.

Guangdong has been known for its manufacturing industry worldwide with the industrial output exceeding 16 trillion RMB. More than 700 thousand manufacturers have settled in the province.

Tu Gaokun, Director General of Guangdong’s Industry and Information Technology Department, said the province will boost the growth of industrial investment to above 10 percent and help 9000 industrial enterprises to upgrade technologies in 2023.

“Guangdong will focus on the 20 strategic industries and enhance the 8 industrial clusters with 1 trillion RMB output, that is, electronic information, green petrochemicals, smart home appliances, advanced materials, modern light industry and textiles, software and information services, modern agriculture and food, automobiles,” said Tu.

To boost foreign economy, Zhang Jinsong, Director General of Guangdong’s Commerce Department, said that Guangdong is rolling out a slew of integrated measures in foreign trade, foreign investment, foreign outsourcing, foreign economic cooperation, and overseas talent attraction.

Zhang indicated that the province had formed a working mechanism of “one-to-one” services to the top 500 foreign trade enterprises and key foreign investment projects. The province will help deal with problems in financing, employment, land use, and energy use timely and further improve and implement the policy of rewarding and subsidizing foreign investment.

As for the highly requested Canton Fair, Chu Shijia, Director of the China Foreign Trade Center, announced that the 133rd Canton Fair will resume its offline exhibition and is scheduled to open on April 15. Invitations were sent to 950,000 domestic and foreign purchasers, 177 international partners, 224 overseas embassies and consulates, 67 consulates general in Guangzhou, and more than 50 domestic investment partners.

Representatives of both domestic and foreign-funded enterprises in such fields as electronics, petrochemical and energy gave presentations and elaborated their plans to further investment in Guangdong this year.

Xu Min, CEO of P&G Greater China, said the American multinational consumer goods corporation will move its product supply chain center from Europe to Guangdong，which will cover the import and export businesses in the RCEP and Belt and Road markets. P&G entered China in 1988 and is headquartered in Guangdong. Thus far, China has become the second largest regional market of P&G while Guangdong has the company’s largest production base.

Li Xingjun, GM of ExxonMobil (Huizhou) Chemical Company, revealed that his company would invest in a world-class R&D center in the Daya Bay petrochemical industrial park in Huizhou. Also, the company is considering establishing a ten-million-ton carbon capture, utilization and storage center in Daya Bay Petrochemical Zone.

As one of the major foreign-funded projects in China, ExxonMobil Huizhou Ethylene Project has fully funded 1.42 billion USD in place, and the total fixed assets investment reached 17.55 billion RMB. Currently, there are 6350 staff members on the project site.

Zheng Yongnian, professor at the Chinese University of Hong Kong, Shenzhen, said high-quality development has been highlighted multiple times in major meetings of Guangdong since December, 2022. Now that all the plans are put in place, the government held the conference to ask its officials to put everything into action and achieve all the goals.

“It shows the ambition of Guangdong, China’s economic power house, to lead development after China eased the travel restriction on inbound passengers and highlights the areas that the government might formulate more advantageous policies for future development. It presents great opportunities to global investors and job seekers,” said Zheng.

SOURCE GDToday

https://www.prnewswire.com/news-releases/chinas-guangdong-stresses-high-quality-development-at-beginning-of-2023-301732974.html

Global Times: Xi’s footprints convey China’s contribution, injecting stability to a turbulent world

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News provided by
Global Times

Jan 28, 2023, 02:40 ET

BEIJING, Jan. 28, 2023 /PRNewswire/ — The global landscape has, in recent years, gone through profound, complex and turbulent changes since the end of the Cold War. In the eyes of geopolitical observers, the ongoing COVID-19 pandemic, the intensifying geopolitical tensions and the “ripple effects” of the Ukraine crisis have led to growing upheaval in the global financial and economic sectors, while also posing a serious threat to food and energy security. Certain countries continue to blatantly advocate for decoupling, confrontation, and division, further exacerbating an already dire global situation.

In the face of growing challenges, China fully underscores its responsibility as a major country, actively promoting international cooperation and injecting stability into a turbulent world, providing new growth momentum to global governance.

Chinese President Xi Jinping made three trips overseas in 2022 and visited five countries between September and December, offering China’s solution, contribution and wisdom to global governance. Such trips are not only proof of the busy schedules maintained by a major country’s top leader, but also bear witness to China’s undeniable successes in initiating and executing major-country diplomacy, observers said.

Diplomatic footprints

On September 14, 2022, Xi arrived in Nur-Sultan and began his state visit to the Republic of Kazakhstan, and was warmly received at the airport by President Kassym-Jomart Tokayev of Kazakhstan, accompanied by senior Kazakh officials.

The golden autumn brought fair winds and wispy clouds to the city of Nur-Sultan, now called Astana. Atop flagpoles lining the streets, China’s red five-starred national flags flew high.

Xi’s visit, albeit a brief one, was highly productive and fruitful. Xi and Tokayev reached many important consensus, which will steer China-Kazakhstan relations toward an even more prosperous future.

Over the course of three days and two nights, Xi flew to Nur-Sultan and then Samarkand and, during a 48-hour stay, attended nearly 30 multilateral and bilateral events with twin focuses on security and development. Despite its brevity, the visit had many highlights and resulted in fruitful outcomes. With the visit’s facilitation, the expansion of the Shanghai Cooperation Organisation (SCO) took a new step forward. The visit also successfully propelled China’s relations with relevant countries to new levels.

“It was the first foreign trip made by President Xi since the start of the COVID-19 pandemic, which was warmly welcomed by host countries and closely observed by the international community. His attendance at the Samarkand Summit of the SCO and his state visits to Kazakhstan and Uzbekistan restarted the head of state’s diplomatic visits,” Xu Bu, secretary-general of Xi Jinping Thought on Diplomacy Studies Center and president of the China Institute of International Studies, told the Global Times in a recent interview.

On November 14, 2022, Xi flew to Bali, Indonesia, which was also his first foreign trip after the conclusion of the 20th National Congress of the Communist Party of China (CPC).

Xi both attended bilateral gatherings and participated in more than 30 events in six days, which sent out resounding messages on the promotion of global development, while demonstrating China’s role as a rational, confident and responsible major country.

In his speech at the G20 summit, Xi called on G20 members to stand with each other in the face of risks and challenges, join hands together, and elevate win-win cooperation to new heights.

Xi’s speeches conveyed an important message which highlighted the concept of building a global community with a shared future, emphasizing that countries with different cultural, religious, racial, historical and political systems as well as ideologies can entirely achieve stable mutual relations on the basis of mutual respect, Li Haidong, a professor at the Institute of International Relations at the China Foreign Affairs University, told the Global Times in a recent interview.

“We are in a multipolar world. To let most countries share the dividends of the joint development and cooperation is the main target of restructuring the global order,” Li said.

Reviewing past decades characterized by robust economic cooperation and remarkable growth in the region, Xi said in a written speech at the APEC CEO Summit in Thailand that “the Asia-Pacific miracle has been created by all of us working hand in hand and overcoming difficulties and obstacles.”

The region owes decades of rapid growth to a peaceful and stable environment, Xi said at the 29th APEC Economic Leaders’ Meeting on November 18, 2022. “History has proven time and again that only openness, inclusiveness, and win-win cooperation is the right way forward for humanity,” the Chinese president said.

“Xi’s series of multilateral and bilateral diplomatic activities have underscored China’s international status and influence,” Xu said.

President Xi visited Saudi Arabia from December 7 to 10, 2022, which not only yielded fruitful results in the economic and trade sectors but also demonstrated that China will increasingly contribute to peace in the strategically important Middle East while continuing to play the role of a contributor to regional development.

Forward looking

China greatly advanced its diplomatic agenda in 2022, with head-of-state diplomacy setting the pace for the country’s overall diplomatic work, which was highlighted by one home-ground event, two major initiatives, and three important visits, former Chinese foreign minister Wang Yi said in December when reviewing the country’s diplomatic work in 2022. Wang is currently the director of the Office of the Foreign Affairs Commission of the Communist Party of China (CPC) Central Committee and a member of the Political Bureau of the CPC Central Committee.

Experts believe that the overall success of China’s diplomatic efforts helped China navigate complex global and regional issues, consolidate consensus, and strike a balance in maintaining strategic stability in its relations with other major countries such as the US and Russia.

Since the APEC 2023 meeting of economies will be hosted by the US and the G20 Summit will be hosted by India later in 2023, Chinese observers, who have closely followed the Chinese president’s diplomatic footprints, predict that major issues and questions such as the Ukraine crisis, relations between major powers such as US-EU relations and China-US relations will continue being the focus in line with the current geopolitical trend.

“In 2023, the global situation will focus on two major topics – security and development. ” Xu said.

It remains to be seen whether the US-Russia relations, the China-US relations and the US-EU relations will be more volatile or moderate. But either outcome will have a significant impact on global peace and development, he said.

Also, Russian President Vladimir Putin said during a video conference with Xi at the end of 2022 that he looks forward to having an in-person meeting with Xi when the latter is on a “state visit to Moscow in the spring of 2023,” TASS reported.

Wang Yi, the former foreign minister, also said in the review of China’s 2022 diplomatic work that the head-of-state diplomacy will reach a new climax in 2023. With the adjustment and optimization of China’s epidemic measures, Chinese experts also expect more renewed people-to-people exchanges between China and the rest of the world, creating more opportunities for face-to-face communication and cooperation.

“In 2023, China will actively expand its global partnership featuring equality, openness, and cooperation, and promote the building of major-country relations featuring peaceful coexistence, overall stability, and balanced development,” Xu said.

This includes China deepening strategic mutual trust and mutually beneficial cooperation between China and Russia, and cement the China-Russia comprehensive strategic partnership of coordination. Meanwhile, China will follow through on the common understandings reached between the Chinese and US presidents, strive to recalibrate the China-US relationship, and bring it back on the right track, according to the Chinese Foreign Ministry.

China will take a clear stand against all hegemony and power politics, fighting back against external forces’ attempts to interfere in China’s internal affairs, and firmly safeguard national sovereignty, security, and development interests, Xu noted.

“It will also actively advocate for the common values of all mankind and promote a new type of international relations in implementing the Global Development Initiative and the Global Security Initiative that China has proposed,” he said.

SOURCE Global Times

https://www.prnewswire.com/news-releases/global-times-xis-footprints-convey-chinas-contribution-injecting-stability-to-a-turbulent-world-301732926.html

NEOGENOMICS SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against NeoGenomics, Inc. – NEO

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News provided by
ClaimsFiler

Jan 27, 2023, 22:50 ET

NEW ORLEANS, Jan. 27, 2023 /PRNewswire/ — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until February 6, 2023 to file lead plaintiff applications in a securities class action lawsuit against NeoGenomics, Inc. (NasdaqCM: NEO), if they purchased the Company’s securities between February 27, 2020 and April 26, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.

Get Help

NeoGenomics investors should visit us at https://claimsfiler.com/cases/nasdaq-neo/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

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

On March 28, 2022, the Company disclosed that its CEO was stepping down effective immediately, that it expected 1Q2022 revenue and EBITDA below the low end of its prior guidance, and that it had withdrawn its 2022 annual financial guidance. On this news, shares of NeoGenomics fell $5.30 per share, or 29.8%. Then, on April 27, 2022, the Company disclosed its 1Q2022 financial results confirming revenue and EBITDA below its prior guidance, among other things, that the market “was moving towards larger, more comprehensive panels” and that the Company was “seeing bigger and bigger panels coming from…emerging companies . . . where we have not kept up.” On this news, shares of NeoGenomics fell $0.41 per share, or 3.8%.

The case is Goldenberg v. NeoGenomics, Inc., No. 22-cv-10314.

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.

SOURCE ClaimsFiler

https://www.prnewswire.com/news-releases/neogenomics-shareholder-alert-claimsfiler-reminds-investors-with-losses-in-excess-of-100-000-of-lead-plaintiff-deadline-in-class-action-lawsuit-against-neogenomics-inc—neo-301732708.html

PREIT Announces Plan to Commence Trading on OTC Markets

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News provided by

PREIT

Dec 15, 2022, 19:46 ET

Trust has Applied to OTCQX®

PHILADELPHIA, Dec. 15, 2022 /PRNewswire/ — PREIT announced today that it intends to transfer the trading of its shares to the OTC Markets, operated by the OTC Markets Group, Inc., under the symbols PRET, PRETL, PRETM, and PRETN, where PREIT has applied to be traded on the OTCQX®. The transition to the over-the-counter market will not affect the Company’s business operations and PREIT will continue to create the compelling experiences our shoppers and tenants seek, adding new tenants and experiences to its properties.  The Company remains focused on improving its balance sheet, having recently extended its Credit Facilities and obtained approvals for multi-family and hotel land sales at Springfield Town Center.  PREIT will continue to file its required periodic reports and other filings with the SEC.

The Trust’s common shares of beneficial interest (the “Common”), as well as the Trust’s 7.375% Series B Cumulative Redeemable Perpetual Preferred Shares (the “Series B Preferred”), the 7.20% Series C Cumulative Redeemable Perpetual Preferred Shares (the “Series C Preferred”), and the Trust’s 6.875% Series D Cumulative Redeemable Perpetual Preferred Shares (the “Series D Preferred,” and, together with the Common, Series B Preferred and the Series C Preferred, the “Trust Securities”) will begin trading on the OTC Markets, operated by the OTC Markets Group, Inc., once approval has been obtained.  Until such time, PREIT expects that the Trust Securities will be quoted on the OTC Pink Market under the symbols PRET, PRETL, PRETM, and PRETN.  On December 15, 2022, the NYSE announced that it had determined to commence delisting of the Trust Securities and that it had suspended trading of the Trust Securities.

Investors can find quotes for the Company’s common stock on www.otcmarkets.com.

About PREIT

PREIT is a real estate investment trust that owns and manages innovative properties developed to be thoughtful, community-centric hubs. PREIT’s robust portfolio of carefully curated, ever-evolving properties generates success for its tenants and meaningful impact for the communities it serves by keenly focusing on five core areas of established and emerging opportunity: multi-family & hotel, health & tech, retail, essentials & grocery and experiential. Located primarily in densely-populated regions, PREIT is a top operator of high quality, purposeful places that serve as one-stop destinations for customers to shop, dine, play and stay. Additional information is available at www.preit.com or on Twitter, Instagram or LinkedIn.

Forward Looking Statements

This press release contains certain forward-looking statements that can be identified by the use of words such as “anticipate,” “believe,” “estimate,” “expect,” “project,” “intend,” “may” or similar expressions. Forward-looking statements relate to expectations, beliefs, projections, future plans, strategies, anticipated events, trends and other matters that are not historical facts. These forward-looking statements reflect our current expectations and assumptions regarding our business, the economy and other future events and conditions and are based on currently available financial, economic and competitive data and our current business plans. Actual results could vary materially depending on risks, uncertainties and changes in circumstances that may affect our operations, markets, services, prices and other factors as discussed in the Risk Factors section of our other filings with the Securities and Exchange Commission. While we believe our assumptions are reasonable, we caution you against relying on any forward-looking statements as it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the effectiveness of strategies we may employ to address our liquidity and capital resources in the future, our ability to achieve our forecasted revenue and pro forma leverage ratio and generate free cash flow to further reduce our indebtedness; our ability to manage our business through the impacts of the COVID-19 pandemic, a weakening of global economic and financial conditions, changes in governmental regulations and related compliance and litigation costs and the other factors listed in our SEC filings. Additionally, our business might be materially and adversely affected by changes in the retail and real estate industries, including bankruptcies, consolidation and store closings, particularly among anchor tenants; current economic conditions, including consumer confidence and spending levels and supply chain challenges and the impact of the COVID-19 pandemic and the public health and governmental response as well as the corresponding effects on tenant business performance, prospects, solvency and leasing decisions; our inability to collect rent due to the bankruptcy or insolvency of tenants or otherwise; our ability to maintain and increase property occupancy, sales and rental rates; increases in operating costs that cannot be passed on to tenants; the effects of online shopping and other uses of technology on our retail tenants; risks related to our development and redevelopment activities, including delays, cost overruns and our inability to reach projected occupancy or rental rates; social unrest and acts of vandalism and violence at malls, including our properties, or at other similar spaces, and the potential effect on traffic and sales; the frequency, severity and impact of extreme weather events at or near our properties; our ability to sell properties that we seek to dispose of or our ability to obtain prices we seek; our substantial debt and the liquidation preference of our preferred shares and our high leverage ratio and our ability to remain in compliance with our financial covenants under our debt facilities; our ability to refinance our existing indebtedness when it matures, on favorable terms or at all; our ability to raise capital, including through sales of properties or interests in properties and through the issuance of equity or equity-related securities if market conditions are favorable; and potential dilution from any capital raising transactions or other equity issuances.

Additional factors that might cause future events, achievements or results to differ materially from those expressed or implied by our forward-looking statements include those discussed herein, and in the sections entitled “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021 and in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. We do not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise.

Contact:

Heather Crowell 
heather@gregoryfca.com
preit@gregoryfca.com

SOURCE PREIT

https://www.prnewswire.com/news-releases/preit-announces-plan-to-commence-trading-on-otc-markets-301704806.html

Club Med Kiroro Peak Opens in Hokkaido, Japan, Lanvin Group Lists on the New York Stock Exchange, Guo Guangchang looks back on Fosun’s 30 years and reveals the future development direction of Fosun

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News provided by

Fosun

Dec 15, 2022, 20:00 ET

HONG KONG, Dec. 15, 2022 /PRNewswire/ — At 22:30 on 15 December, Beijing time, Lanvin Group, a global luxury fashion group under Fosun, was listed on the New York Stock Exchange with the stock code “LANV”. On the morning of 15 December, Club Med under Fosun Tourism Group opened Club Med Kiroro Peak in Hokkaido, Japan, which is the fifth resort newly opened by Club Med this year.

Market analysts believe that Fosun is actively making strategic focus in the face of the constant changes in the macro environment. On 15 December, Fosun held the Fosun’s 30th Anniversary ONE FOSUN Family Members’ Carnival. At the internal event, Guo Guangchang, Chairman of Fosun International, shared several memorable moments in the 30 years since Fosun was founded in 1992 and revealed the future development direction of Fosun: Fosun will reinforce its positioning as a “family-oriented consumer group,” focus on its core business strategically around the consumption needs of global families, and strengthen the two core growth engines of globalization and innovation.

In Guo Guangchang’s speech on 15 December, he shared the moment of the successful acquisition of Club Med in 2015. “The acquisition of Club Med is an important milestone in Fosun’s globalization history, and Club Med is our first brand with global significance.” He said, “I believe that the significance of Club Med and Fosun Tourism Group is far beyond resorts, it represents a new way of life for families.”

Fosun has been operating in the industry profoundly for nearly eight years; Club Med has made remarkable progress in the global market, especially in China and the Asia-Pacific region, with customers from 35 countries and regions. It has also successfully created hot-selling products in China such as Club Med Joyview. In the first three quarters of 2022, against the recurring epidemics, the business volume of Club Med reached RMB9.135 billion, representing a year-on-year increase of more than 145.7%, while in the peak winter travel season from Christmas this year to February 2023, the bookings of overseas resorts have increased significantly compared with the same period last year, and many resort rooms were sold out during the Chinese New Year. Moreover, with the adjusted epidemic prevention and control measures in mainland China, Club Med’s nine resorts in China have also seen a significant increase in bookings and inquiries.

Club Med is just one of the many global projects that Fosun has successfully operated. As of now, Fosun has established profound business presence in more than 30 countries and regions around the world and has more than 100,000 employees worldwide. Guo Guangchang said, “As a private enterprise founded in Shanghai and developed in China, I am proud to say we have one of the best globalization capabilities. Now that the world is facing many challenges, Fosun’s globalization capabilities are even more valuable.” Guo Guangchang also emphasized the importance of innovation in his speech. Based on previous interim reports and annual reports disclosed by Fosun International, it is evident that Fosun attaches great importance to innovation. In 2021, Fosun invested RMB8.9 billion in technology and innovation. In the first half of 2022, despite the pressure on overall performance, Fosun still invested RMB4.6 billion in technology and innovation, representing a year-on-year increase of 21%.

The technological innovation capabilities that Fosun accumulated the years have also continued to bear fruit. For example, in the health segment, in the first half of this year, new and sub-new products such as Han Li Kang, Han Qu You, and Han Si Zhuang contributed more than 25% of Fosun Pharma’s revenue. Since July this year, Azvudine, China’s first oral medication for COVID-19 jointly developed by Fosun Pharma and Genuine Biotech, has been widely used in the prevention and control of the epidemic in various places. Recently, Fosun Pharma approached a number of online medical platforms for cooperation to improve the accessibility of Azvudine through multiple channels, so as to further meet the needs of home treatment of patients infected with COVID-19.

The COVID-19 mRNA vaccine, COMIRNATY® jointly developed by Fosun and BioNTech, a German biotechnology company, has also made continuous progress. The COMIRNATY® bivalent vaccine which can protect against the Omicron variant has been administered in Hong Kong SAR and Macao SAR on 1 December. Recently, Macao SAR has rolled out the self-funded COVID-19 vaccination service of COMIRNATY® for domestic tourists.

Guo Guangchang said, “BioNTech, a Germany biotechnology company, chose to cooperate with Fosun to develop the COVID-19 mRNA vaccine because they recognize Fosun Pharma’s research and development capabilities and globalization strategy. Globalization and innovation are very important to Fosun, and they are also the core growth engines that we will continue to adhere to.”

In recent years, Fosun continued to reinforce it’s positioning as a “global innovation-driven consumer group” and strengthen its foothold in health, happiness, wealth and other business segments. Guo Guangchang said in his speech that, “we hope to create a better world and create happier lives for families worldwide. We also hope more people can live till the age of 121 with health, happiness and wealth.”

With the strategic focus on the household consumption industry, the profound industry operations became particularly important. In recent years, under the intensive cultivation of Fosun, international brands such as Club Med, Lanvin, and Wolford, as well as time-honored brands including Laomiao, and Songhelou have all radiated new vitality.

Taking Lanvin, one of the oldest luxury brands in France as an example, in the first half of 2022, Lanvin delivered 117% year-on-year global sales growth, and Lanvin Group, its operating parent company, recorded a revenue of EUR202 million, representing a year-on-year increase of 73%. Lanvin Group has also become one of the fastest growing companies in the global luxury goods industry. After listing on the New York Stock Exchange, Lanvin Group will usher a new round of development.

Looking ahead, Guo Guangchang said, “More opportunities are waiting for us. We must refine our products to the best, provide the best service, and offer the best user experience. We hope to create a better world.”

SOURCE Fosun

https://www.prnewswire.com/news-releases/club-med-kiroro-peak-opens-in-hokkaido-japan-lanvin-group-lists-on-the-new-york-stock-exchange-guo-guangchang-looks-back-on-fosuns-30-years-and-reveals-the-future-development-direction-of-fosun-301704800.html

Football and art come together in the first NFT exhibition of its kind

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News provided by

King Abdul Aziz Center for World Culture (Ithra)

Dec 06, 2022, 00:00 ET

–  The King Abdulaziz Center for World Culture’s From Strike to Stroke exhibit features 64 FIFA World Cup match results in a unique man-machine collaboration

DHAHRAN, Saudi Arabia, Dec. 6, 2022 /PRNewswire/ — The King Abdulaziz Center for World Culture (Ithra) celebrates the art of the beautiful game in a unique exhibition at the 2022 FIFA World Cup in Qatar. From Strike to Stroke features 64 NFTs by 32 artists from the competing nations, while Artificial Intelligence (AI) fuses the pieces from the contending two countries in each of the 64 matches into a unique piece based on the match outcome. The result will be a singular collection of one-of-a-kind NFTs created through a collaboration of man and machine. Strike to Stroke runs at the Msheireb Galleria Doha, Qatar until December 23.

Ithra, a cultural bridge between Saudi Arabia and the rest of the world, channels the world’s passion for football into its infatuation with the arts as the world comes together for the World Cup. The exhibition melds the man-made with the machine-made, and combines art, sport and technology in an innovative fashion.

It features the work of 32 emerging and established artists, each tasked with creating a piece representing their country and using their respective team’s jersey colors. After each match, the AI-powered algorithm combines the artists’ creations with match statistics to generate unique pieces that represent each game. The collection will be a unique set of pieces presented as NFTs – non-fungible tokens. These cryptographic assets are based on blockchain technology, and created in a process similar to cryptocurrencies.

From Strike to Stroke includes artists who have never created NFTs and NFT artists who had not worked within traditional fine art.

“The passion shared by football fans for the love of the beautiful game can be tangential to the passion shared by art aesthetes,” said Dr. Shurooq Amin in her curator’s brief to the exhibition. “By connecting 32 artists from both the traditional and digital arenas, Ithra not only bridges the gap between Web2 to Web3, and between football and art, but furthermore between human and machine, as the artists collaborate with AI generation technology to create unique NFTs that combine art, football and technology.”

Visit www.striketostroke.com.

Images and exhibition catalogue can be found here.

For more information on Ithra and its programs, visit www.ithra.com.

Photo – https://mma.prnewswire.com/media/1961775/Ithra_World_Cup_NFTs.jpg

SOURCE King Abdul Aziz Center for World Culture (Ithra)

https://www.prnewswire.com/news-releases/football-and-art-come-together-in-the-first-nft-exhibition-of-its-kind-301694890.html

 

 

PlayV Run Season 2, The Final Match Open

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News provided by

PlayV

Dec 06, 2022, 01:49 ET

SEOUL, South Korea, Dec. 6, 2022 /PRNewswire/ — PlayV, the global crypto currency social trading platform, announced on the 5th that competition of the 2022 PlayV Run Season 2:  Final Match had begun.

PlayV’s trading competition started with the first round on August 29th and recently completed a successful second round of the competition, recording returns of up to 77%. About 70 global traders who participated in the competition recorded high returns in the bear market caused by unfavorable factors.

A prize pool of $40,000 has been paid out thus far, and in the third and final round of trading competition, approximately $25,000 worth of prize money will be paid out.

A PlayV official stated, “The ROIs for top traders are increasing as the competition continues. Skilled traders are shining brightly even in this bear market. We’re expecting great results from the third round, and for the first time in a trading competition, we’re providing seed support to traders. This is not only a means to recruit skilled traders but also bolster investor security.”

The trader application period for the third round will be from December 5 to 19 , and the competition will run from December 19 to January 9, 2023. Various bounty events are being offered to traders and investors. When traders create strategies, PlayV plans to purchase additional strategies on their behalf, which will apply to the first 20 traders registered as early birds. Additional purchases of up to $10,000 will be made for strategies at a 1:2 investment-to-purchase ratio.

Details such as the prize pool and conditions for winning can be found on the PlayV website.

BC Labs, the operator of PlayV, acquired ISO/IEC 27001:2013 certification last October. “We obtained ISO/IEC 27001 certification with the goal of providing users with a secure social cryptocurrency trading platform, and we will continue to strive to protect customer data and comply with laws related to information security,” said Steve, CEO of BC Labs.

Last month, PlayV participated in Blockchain Week in Busan (BWB 2022), introducing their social virtual asset trading service and conducting an AMA.

Competition Details : https://bit.ly/3FjTQFL
Telegram : https://t.me/PlayV_Event_Chat
Web site : https://bit.ly/3En3jw3

SOURCE PlayV

https://www.prnewswire.com/news-releases/playv-run-season-2-the-final-match-open-301695382.html

Catch a Glimpse of The 2022 Holiday Auction (Wine & Spirit)

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News provided by

Madison Auction Limited

Dec 06, 2022, 01:42 ET

  • To celebrate the festival, Madison Auction is delighted to present the 2022 Madison Holiday Auction at 11:30 am (HKT) Saturday, December 10th in Hong Kong, the stunning 458 lots of fine wines and Spirits, with a total estimate of HK$27,000,000 – HK$45,000,000. 

  • Madison Auction offers an exceptional array of top-level wines and spirits that are rare in the market, including 124 lots of Bordeaux, 220 lots of Burgundy, 38 lots of Champagne, 16 lots of American cult wines, 12 lots of rare Italian wines, 23 lots of Japanese whiskies and 21 lots of Scottish whiskies. Most of them are collections built up by seasoned collectors for decades.

HONG KONG and BEIJING, Dec. 6, 2022 /PRNewswire/ — This sale will be live-streamed on Madison Auction bidding platform (www.madison-auction.com/auctions) and the Madison Auction App (search ‘Madison Auction’ in app store) at 11:30am (HKT) this Saturday. Take advantage of the last few days to place online absentee bid via the bidding platform and app.

As the first Hong Kong–based luxury lifestyle auction house, Madison Auction hosts auctions for the unique pool of high-net-worth clients from APAC and other regions. Madison Auction continues to accept consignments at 0% seller’s commission throughout the year for upcoming sales.

 

In addition to Hong Kong, Madison Auction will also set up salerooms in Macao, Shanghai, Singapore and Guangzhou, allowing more Asia-Pacific bidders to simultaneously attend the auction via live streaming.

410 Lots Wine | Lot 1 – 410

To celebrate the holidays, Madison Auction selected some most exciting and rare champagnes for customer’s enjoyment and collection, ranging from Vintaged Dom Pérignon (Lot 54-59, 65, 66, 165, 169, 302-304 & 311) and Salon (166-168, 341-344), to large formats of Bollinger (Lot 63) and Perrier-Jouët (Lot 309). Among these 38 lots of Champagne, customers probably don’t want to miss the magnum of Dom Pérignon P3 Rosé from 1988 (Lot 66), a rare champagne from a great vintage in a large format. Another that may catch your eye is the Salon Cuvée S Le Mesnil from 1985 (Lot 167), a beautiful creation from the legendary vintage.

From Burgundy, as usual, Madison Auction has impeccable provenance of the top wines in OWC and BOWC, such as DRC (Lot 133-136, 188, 206, 299, 368, 369, 371 & 372), and Leroy ( Lot 392, 394-396, 398). If you are looking for something even rare, the 1999 Rene Engel Clos Vougeot (Lot 88 & 89), the magnum of 1993 Georges Roumier Musginy (Lot 83), or the 1993 & 2006 Leroy Musigny (Lot 84 & 85) may interest you. If you are looking for more fun drinking wines, the ready-to-drink Arnouxs (Lot 71-80, 172-177), Cecil Tremblay (Lot 269-272), and Arnaud Ente (Lot 318 & 319) could be great choices.

From Bordeaux, if you are an 1855 Grand Classé collector, you may be thrilled to see the scarce Mouton collection containing one bottle each vintage from 1945-2001 (Lot 212-218) and 3 sets of the entire collection of every Château (61 of them) from the classification (Lot 219-221). Another scarce and absolutely delicious bottle is the 1989 Haut Brion Blanc which is in perfect condition (Lot 6). Of course, Madison Auction has many more to offer in these 124 lots of Bordeaux.

Madison Auction has the rarest and sought-after natural wines from other parts of France, from Jura, Domaine des Miroirs (Lot 312-315). Luckily, they have another Methuselah of Domaine du Pégau Cuvée da Capo (Lot 337), the “3rd Apostle” in The Drops of God, for our wine enthusiasts.

Outside of France, Madison Auction has the Library Pack collection from Schrader Cellars (Lot 345-347); this collection contains the best library stock of the top-line Cuvée from the winery. Furthermore, the Grace Family Vineyards magnums offer wine lovers not only delicious wines but also beautifully embossed bottles for your cellar (Lot 248 & 249). In addition, the 1946 Bodegas Toro Albalá Don PX Convento Selección from Spain could bring great joy to your holiday parties (Lot 208).

Spirit | Lot 411 – 458

For spirits, Madison Auction has Fine and Marc de Bourgogne from DRC and Hospices de Beaune (Lot 411, 412, 414). If you are a whisky lover, one of the rarest and most collectible Japanese whiskies, Hanyu Ichiro’s Malt Cards Series (Lot 420-422) may excite you, especially the King of Clubs (Lot 420). Madison Auction also has one lot of Karuizawa Geisha 1977 that could complete your Geisha collection (Lot 424). Finally, if you are a scotch fan, we also have some casual drinking bottles for your enjoyment (Lot 416-418, 431-433, 440 & 441, 448-457).

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Recommendation

1988 Dom Pérignon P3 Plénitude Brut Rosé Champagne

Lot 66 | 1 Magnum (GB), Overall: Great | Ullage: 1cm from bottom | RP 93
Est. HK$ 45,000 – HK$ 80,000

As we all know it is rare to find an outstanding vintage Dom Pérignon in magnum, not to mention the  P3 and the most sought-after Rosé champagne recently. P3 requires at least 25 years of cellar aging before release, making it incredibly sophisticated, full-bodied, and only available in vintage champagne auctions.

Vintage P3 like 1988, 1990, 1992, and 1993 have rarely been presented at auction in Asia in recent years, and the Wine Search average price has more than doubled in 5 years (the 1988 P3 Rosé price soared more than 3 times), making it a true rarity. However, 1988 is not the only gem in this auction that Vintage P3 mentioned above will also be presented (Lot 55-57), so don’t miss out on these legendary treasures!

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1993 Domaine Georges Roumier Musigny Grand Cru

Lot 83 | 1 Magum, Overall: Great | BH 98
Est. HK$ 190,000 – HK$ 320,000

In Wine Searcher’s latest list of The World’s Top 50 Most Expensive Wines, Domaine Georges & Christophe Roumier Musigny Grand Cru is ranked third among the Reds, only after the same Grand Cru from Leroy and Romanée-Conti Grand Cru of DRC. This lot is in the magnum bottle with a more desirable state of aging and collectability.

This auction also features the top of the list, the 1993 & 2006 Leroy Musigny Grand Cru (Lot 84 & 85), with only 1 bottle each. Be quick!

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1999 Domaine René Engel Clos de Vougeot Grand Cru

Lot 88 | 6 Bottles, Overall: Great
Est. HK$ 110,000 – HK$ 200,000

1999 represented the most iconic and sought-after year of Burgundy in the 1990s. Not to mention this lot is from the Lost Domaine – René Engel. We are proud to double this marvelous opportunity, presenting you with another 12 bottles of the same vintage (Lot 89) in this sale, so don’t miss out!

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2009 Domaine Arnaud Ente Puligny-Montrachet 1er Cru, Les Referts

Lot 319 | 6 Magnums (6 Single OWC), Overall: Perfect | 90 magnums produced | BH 91-94
Est. HK$ 65,000 – HK$ 110,000

It’s a blue-eyed boy at the auction, a rising star in Burgundy which has stole the thunder from Coche-Dury in recent years.

This 1er Cru wine is ranked the 3rd most expensive wines of the domaine, with annual production of less than 1,000 bottles and only 90 magnums available worldwide! Another lot from the same domaine (Lot 318) is also waiting for its star scout.

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1945 Château Mouton Rothschild Pauillac 1er Cru Classé

Lot 212 | 1 Bottle, Overall: Great, Ullage: Top shoulder | RP 100
Est. HK$ 65,000 – HK$ 120,000

If you are an 1855 Grand Classé collector, you may be thrilled to see the scarce Mouton collection containing one bottle each vintage from 1945-2001 (Lot 212-218). These gems include some great vintages of Mouton, such as 1947, 1953, 1955, 1957, 1959, 1961, 1970, 1982, 1983, 1985, 1986, 1995, 1996, and 2000.

Every year, Mouton invites one artist/celebrity to design the label of its grand vin. Pablo Picasso (1973, the vintage when Mouton was upgraded to First Growth), Salvador Dali (1958), of course, the ”Augsburg Ram” in 2000!

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Domaine Des Miroirs Mixed Lot

Lot 312 | 3 Bottles, Overall: Perfect
Est. HK$ 22,000 – HK$ 42,000

2014 Domaine des Miroirs Sonorité du Vent Les Saugettes (1)
2015 Domaine des Miroirs Berceau Chardonnay (2)

Located in the Jura, France, this natural wine producer, has been popular in recent years. The prices of its wines have skyrocketed and are hard to come by. In this auction, we present 4 lots (Lot 312-315) from this winery, with three single vineyards: the Sonorité du Vent Les Saugettes, Berceau, and the Mizuiro Les Saugettes.

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Schrade Cellars Library Pack 4,8,9 Mixed Lot (1)

Lot 345 | 18 Bottles, 3 OWC
Est. HK$ 38,000 – HK$ 65,000

Schrader Cellars Library Pack 4 (1 OWC)
2008 T6 x 2 + 2005 RBS x 2 + 2015 RBS x 2

Schrader Cellars Library Pack 8 (1 OWC)
Schrader Library Pack 8 (07 T6 x 2 + 11 RBS x 2 + 09 GIII x 2)

Schrader Cellars Library Pack 9 (1 OWC)
2011 T6 x 2 + 2009 RBS x 2 + 2007 Beckstoffer x 2

The Schrader Library Pack contains only the best Cuvee of the winery. The winery reserves these wines as library stocks stored in the winery cellar at the most optimal storage condition. The wines are then late-released to the winery’s top collectors when they enter the drinking peak, offering Schrader lovers beautifully aged wines.

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1989 Château Haut-Brion Blanc Pessac-Léognan Grand Cru Classé

Lot 6 | 1 Bottle, Overal: Perfect | RP 100
Est. HK$ 14,000 – HK$ 24,000

A perfect score for Parker, who exclaimed, “this is the most immense and large-scaled Haut-Brion Blanc I have ever tasted… fully replicated the fleshy, chewy texture of a great Grand Cru white Burgundy.” Only 600 cases were produced with perfect aging potential. Singl bottle in perfect condition, what are you hesitating for?

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1988 Hanyu Ichiro’s Malt Cards Series King of Clubs

Lot 420 | 1 Bottle, Overall: Perfect, Bottled: 2010 | Bottle Number: 376, Cask Number: #9108 | Abv: 58%, Vol: 700ml, 417 bottles produced
Est. HK$ 100,000 – HK$ 180,000

Collecting the full Hanyu Ichiro’s Malt Cards Series is like the top “mission impossible” for all Japanese whisky connoisseurs. We are fortunate to have 3 lots (Lot 420-422) , including the extremely rare “King of Clubs” (above right 2nd, 417 bottles were produced). Only one bottle is available for each lot, making it with significant investment and artistic value that Japanese whisky collectors should be crazy for.

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2000 Hanyu Ghost Series 3

Lot 423 | 1 Bottle, Overall: Perfect, Bottled: 2014 | Bottle Number: 28, Cask Number: #1702 | Abv: 59.6%, Vol: 700ml, 120 bottles produced
Est. HK$ 55,000 – HK$ 90,000

With only 120 bottles produced annually, the rarity of this single Cask lot is evident. Place your bid now!

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We continue to accept consignments at 0% seller’s commission for our next  Auction – Please contact us for an estimation on your collection.
Email: consignment@madison-auction.com
Tel: +852 3188 6613

SOURCE Madison Auction Limited

https://www.prnewswire.com/news-releases/catch-a-glimpse-of-the-2022-holiday-auction-wine–spirit-301695379.html

Endodontic Practice Partners Secures $100 Million Debt Facility From Twin Brook Capital Partners

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News provided by

Endodontic Practice Partners

Dec 02, 2022, 18:43 ET

The transaction with Twin Brook Capital Partners and sponsored by RC Capital, raised an additional $100 million of committed debt financing to continue the growth of EPP.

NASHVILLE, Tenn., Dec. 2, 2022 /PRNewswire/ —

New Capital Enables Growing Specialty Partnership Organization to Continue to Scale

Endodontic Practice Partners (EPP), a Nashville-based specialty partnership organization, announces the securing of an additional debt facility to expand its growing partnership of endodontic practices.

The transaction, which closed on November 2, with Twin Brook Capital Partners (“Twin Brook”) and sponsored by RC Capital, raised an additional $100 million of committed debt financing to continue the growth of EPP.

Twin Brook focuses on loans to private equity-owned companies with EBITDA between $3 million and $50 million, with an emphasis on companies with $25 million of EBITDA and below. The firm targets senior financing opportunities up to $400 million with hold sizes across the Twin Brook platform ranging from $25 million up to $150 million. As of October 31, 2022, Twin Brook has issued $26.2 billion in commitments, closed 356 unique platforms, completed 1,212 total transactions, and reviewed over 10,000 deals from over 800 different PE sponsors since inception in the fourth quarter of 2014.

“Securing additional capital at the young stage of our company’s existence signifies that we’re positioned for an impressive growth trajectory,” states Sam Hutcheson, CEO of Endodontic Practice Partners. “An experienced lender in the space, Twin Brook has the ability to work hand-in-hand with us to navigate the wealth of opportunities ahead of us.”

Endodontic Practice Partners (EPP) solely focuses on affiliating with endodontic practices in specific market areas, focusing on density in a market to capture the most value for partners in that state. With a 30-year practicing endodontist as a co-founder, EPP was founded on and remains true to its focus on patient and doctor satisfaction. EPP’s core values (integrity, innovation, compassion, service, and partnership) guide the company’s growth. Partner endodontists receive the administrative support necessary to ignite their success and allow them to re-focus on patient care and living a balanced life.

About Endodontic Practice Partners

One of the fastest growing support organizations in the U.S., Endodontic Practice Partners is building a network of private endodontic practices that strive to deliver best-in-class patient experiences. We collaborate with our endodontic partners to provide business support in areas where it will reduce administrative burden to enhance patient care, the patient experience, and drive value for the practices. Our affiliated endodontists maintain their individuality so they continue to treat patients under their brand with the strength of EPP behind them, helping them realize their goals and vision sooner. Learn more on our website: http://www.endopracticepartners.com.

PRESS CONTACT:

Katie Holmes Bailey,
6157671358,
http://www.endopracticepartners.com

SOURCE Endodontic Practice Partners

https://www.prnewswire.com/news-releases/endodontic-practice-partners-secures-100-million-debt-facility-from-twin-brook-capital-partners-301692847.html

Yiren Digital Successfully Regains Compliance with NYSE Minimum Share Price Listing Requirement

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News provided by

Yiren Digital

Dec 02, 2022, 20:10 ET

BEIJING, Dec. 2, 2022 /PRNewswire/ — Yiren Digital Ltd. (“Yiren Digital” or the “Company”) (NYSE: YRD), a leading digital personal financial management platform in China, today announced that it has received a letter dated December 1, 2022 from the New York Stock Exchange (the “NYSE”) informing that the Company has successfully regained compliance with the NYSE’s continued listing standard that requires a minimum average closing price of $1.00 per share over a consecutive 30 trading-day period.

On November 7, 2022, the Company was notified by the NYSE that it had fallen below the minimum share price listing requirement in connection with the performance of trading price of its American depositary shares (the “ADSs”), and that the Company had six months following receipt of the notice to regain compliance with the minimum share price requirement.

At the closing of trading on November 30, 2022, the average closing price of the Company’s ADSs for the previous consecutive 30 trading-day period was above $1.00 per ADS. Accordingly, the Company has regained compliance with the NYSE minimum share price listing requirement.

About Yiren Digital

Yiren Digital Ltd. is a leading digital personal financial management platform in China. The Company provides customized, asset allocation-based holistic wealth solutions to China’s mass affluent population as well as provides retail credit facilitation services to individual borrowers and small business owners.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yiren Digital’s control. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in any such statements. All information provided in this press release is as of the date of this press release, and Yiren Digital does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

SOURCE Yiren Digital

https://www.prnewswire.com/news-releases/yiren-digital-successfully-regains-compliance-with-nyse-minimum-share-price-listing-requirement-301692670.html