Best Rate Direct

BrightNight Announces Differentiated 100 MW Hybrid Wind-Solar Power Project in Maharashtra, India

January 30, 2023 by Jason Shortes

News provided by

BrightNight

Jan 29, 2023, 20:10 ET

Optima Project to Serve Commercial & Industrial Customers     

WEST PALM BEACH, Fla. & GURUGRAM, India, Jan. 29, 2023 /PRNewswire/ — BrightNight, the next generation and global renewable power producer built to deliver clean and dispatchable solutions, today announced plans for one of its inaugural projects in India: a differentiated 100 MW co-located, wind-solar hybrid renewable power project that will deliver clean, high-capacity factor power to commercial and industrial (C&I) customers in the State of Maharashtra.

The Optima project located in the State of Maharashtra has been developed by BrightNight’s India team using its proprietary software platform, which optimizes multiple renewable technologies to meet customers’ load requirements. The renewable power project will meet up to 80% of C&I customers’ power consumption and potentially save customers up to 25% annually on their energy bills while avoiding carbon emissions equivalent to up to 6 million tonnes for project life. The project will consist of co-located wind and solar components, making efficient utilization of grid infrastructure and enabling ease of operations for the grid operator.

“BrightNight is growing rapidly in its quest to globally deliver the next-generation of renewable power projects,” BrightNight CEO Martin Hermann said. “We are well capitalized and have a best-in-class leadership team developing a global portfolio. The Optima project is a great example of how we are using our experienced development team and cutting-edge technology to deliver solutions to our customers: affordable, reliable, and safe renewable power,” added Hermann. “India is a high-growth market with a strong demand for renewable power. I am proud of the India team’s progress and excited about the tremendous potential this market presents for BrightNight.”

Having secured the grid connectivity at the state grid substation, BrightNight is targeting to commission the project by 1Q 2024. BrightNight will work with C&I customers to sign long-term power offtake agreements for the project to meet the highest portion of their power load requirements.

BrightNight has identified India as a core market for its global platform and entered the market with a 1 GW+ portfolio under development led by India CEO Sajay KV and India COO & CFO Naveen Khandelwal, who with the team have collectively delivered more than 7 GW of in-country wind and solar projects.

“Our Optima project is customized to meet the maximum load requirements of our customers,” BrightNight India CEO Sajav KV said. “We’ve received a great response from our prospective customers, and we are actively adding to our portfolio to meet the growing demand for dispatchable renewable power in India.”

BrightNight has a global portfolio of 23 GW across the U.S. and Asia Pacific and is backed by some of the most respected investors in the global energy sector, including Cordelio, a subsidiary of the Canadian Pension Plan Investment Board (CPPIB), and Global Infrastructure Partners (GIP).

This project is BrightNight’s first step in its India build-out to serve C&I and utility customers. With its growing India team, BrightNight has established operations in Gurgaon and in Pune to support the execution of the project. It also has a senior Advisory Council consisting of leading business and energy leaders, including Ron Somers, CEO of India First Group and former President of the U.S.-India Business Council, and Gireesh Pradhan, former Chairman, CERC and former Secretary MNRE, Govt of India.

“Investment follows infrastructure, and BrightNight’s project will support businesses that need power with less carbon, greater reliability, and at lower costs. Such a match is beneficial for economic development, the environment, and communities in Maharashtra,” Advisory Council Member Ron Somers said.

ABOUT BRIGHTNIGHT
BrightNight is the first global renewable integrated power company designed to provide utility and commercial and industrial customers with clean, dispatchable renewable power solutions. BrightNight works with customers across the U.S. and Asia Pacific to design, develop, and operate safe, reliable, large-scale renewable power projects optimized to better manage the intermittent nature of renewable energy. Its deep customer engagement process, team of proven power experts, and industry-leading solutions enable customers to overcome challenging energy sustainability standards, rapidly changing grid dynamics, and the transition away from fossil fuel generation. To learn more, visit: www.brightnightpower.com

SOURCE BrightNight

https://www.prnewswire.com/news-releases/brightnight-announces-differentiated-100-mw-hybrid-wind-solar-power-project-in-maharashtra-india-301733084.html

Filed Under: News, Real Estate, World

MINISO Group Announces Management and Board Changes

January 29, 2023 by Jason Shortes

News provided by

MINISO Group Holding Limited

Jan 29, 2023, 01:54 ET

GUANGZHOU, China, Jan. 29, 2023 /PRNewswire/ — MINISO Group Holding Limited (NYSE: MNSO; HKEx: 9896) (“MINISO,” “MINISO Group” or the “Company”), a global value retailer offering a variety of design-led lifestyle products, today announced that Mr. Steven Saiyin Zhang has resigned from his positions as the chief financial officer, executive vice president and an executive director of the Company, effective on January 31, 2023, for personal reason and in order to spend more time with his family. Mr. Steven Zhang will continue to serve as a senior consultant to the Company.

Following Mr. Steven Zhang’s resignation, the board of directors of the Company (the “Board”) will be comprised of five members, including three independent non-executive directors and two executive directors. In addition, the Board has appointed Mr. Eason Jingjing Zhang, currently the Company’s vice president of capital markets, as the new chief financial officer of the Company, effective on January 31, 2023.

Mr. Guofu Ye, founder, chairman of the Board and chief executive officer of the Company, commented, “On behalf of our Board and the management team, I would like to thank Steven for his exemplary service and significant contributions to the Company’s business, financial management, capital markets transactions and corporate governance during the past 5 years since he joined the Company. His sound judgment and leadership have been instrumental in our company’s growth, earning respect and commendation throughout the Company.”

“Steven has designed a detailed succession plan to transition his responsibilities to Eason, who has played a key role in driving MINISO’s success in various capital market transactions and several internal finance management projects, demonstrating a clear understanding of our business and establishing confidence in MINISO among the investor community. We look forward to working with him in his new capacities and together taking the Company to new heights.”

Mr. Eason Zhang has served as the Company’s vice president of capital markets since September 2022, in charge of the Company’s capital markets matters, including investor relations, strategic investment and acquisitions, as well as corporate strategy and treasury. Mr. Eason Zhang joined the Company in January 2021 as director of capital markets. Since then, he has played a key role in driving the Company’s success in various capital market transactions and several internal finance management projects. Mr. Eason Zhang has 12 years of experience in capital markets. He started his career in auditing at PricewaterhouseCoopers, after which he served in various roles mainly in capital markets in the U.S., Hong Kong and China A share markets. Mr. Eason Zhang, a Chartered Financial Analyst and a non-practicing member of the Chinese Institute of Certified Public Accountants, received his dual bachelor degrees in World History and Business Administration from Nankai University and is currently an FMBA candidate of the executive program at China Europe International Business School.

Mr. Steven Zhang has confirmed that he has no dispute or disagreement with the Board or the Company and that there is no matter in respect of his resignation that needs to be brought to the attention of the shareholders of the Company.

About MINISO Group

MINISO Group is a global value retailer offering a variety of design-led lifestyle products. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO’s wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand “MINISO” as a globally recognized retail brand and established a massive store network worldwide. For more information, please visit https://ir.miniso.com/.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. MINISO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about MINISO’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: MINISO’s mission, goals and strategies; future business development, financial conditions and results of operations; the expected growth of the retail market and the market of branded variety retail of lifestyle products in China and globally; expectations regarding demand for and market acceptance of MINISO’s products; expectations regarding MINISO’s relationships with consumers, suppliers, MINISO Retail Partners, local distributors, and other business partners; competition in the industry; proposed use of proceeds; and relevant government policies and regulations relating to MINISO’s business and the industry. Further information regarding these and other risks is included in MINISO’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and MINISO undertakes no obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact:

Raine Hu
MINISO Group Holding Limited
Email: ir@miniso.com
Phone: +86 (20) 36228788 Ext.8039

Eric Yuan
Christensen Advisory
Email: miniso@christensencomms.com
Phone: +86 1380 111 0739

SOURCE MINISO Group Holding Limited

https://www.prnewswire.com/news-releases/miniso-group-announces-management-and-board-changes-301732999.html

Filed Under: Deposit Rates, News, World

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

January 29, 2023 by Jason Shortes

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

Filed Under: Economic Rates, News, World

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

January 28, 2023 by Jason Shortes

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

Filed Under: Economic Rates, News, World

PREIT Announces Plan to Commence Trading on OTC Markets

December 16, 2022 by Jason Shortes

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

Filed Under: Bank Rates, News, World

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

December 16, 2022 by Jason Shortes

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

Filed Under: Bank Rates, News, World

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

December 6, 2022 by Jason Shortes

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

 

 

Filed Under: Bank Rates, News, World

PlayV Run Season 2, The Final Match Open

December 6, 2022 by Jason Shortes

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

Filed Under: Bank Rates, Economic Rates, News, World

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

December 4, 2022 by Jason Shortes

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

Filed Under: Bank Rates, News, World

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

December 4, 2022 by Jason Shortes

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

Filed Under: Bank Rates, News, World

  • 1
  • 2
  • 3
  • Next Page »

Recent News

  • BrightNight Announces Differentiated 100 MW Hybrid Wind-Solar Power Project in Maharashtra, India
  • MINISO Group Announces Management and Board Changes
  • China’s Guangdong stresses high-quality development at beginning of 2023
  • Global Times: Xi’s footprints convey China’s contribution, injecting stability to a turbulent world
  • 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
  • PREIT Announces Plan to Commence Trading on OTC Markets
  • 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
  • Football and art come together in the first NFT exhibition of its kind
  • PlayV Run Season 2, The Final Match Open
  • Catch a Glimpse of The 2022 Holiday Auction (Wine & Spirit)
vacation-in-vietnam-between-dream-beaches-and-tropical-rainforest/ vacation-in-fiji-a-little-known-south-seas-island-paradise/ vacation-in-iceland-voyages-of-discovery-in-a-unique-landscape/ vacation-in-masuria-poland-relaxing-in-a-dreamy-natural-setting/ https://greatarticles.co.uk/vacation-in-poland-between-the-baltic-sea-and-the-high-tatras/ vacation-in-argentina-tango-and-more/ vacation-in-california-plan-your-trip-through-the-golden-state/ vacation-in-barbados-relaxed-on-the-beautiful-caribbean-island/ travel-to-new-york-travel-guides-tips-for-your-trip-to-nyc/ vacation-in-norway-fjords-and-fascinating-landscapes-in-northern-europe/ vacation-trip-to-milan-italy/ vacation-in-egypt-beach-holidays-diving-culture/ vacation-in-denmark round-trips-through-the-usa--metropolises--national-parks-and-palm-beaches-755191 https://jasonshores.livejournal.com/352.html https://twitter.com/Las_Vegas_Blog https://fsu.academia.edu/JasonS https://about.me/sjason http://www.lawrence.com/users/jasonshores/ https://in.pinterest.com/jasonsvegas11/ https://fairygodboss.com/users/profile/cWUp9R3pct/Jason-Shores https://www.diggerslist.com/jasonshores/about https://rosalind.info/users/jasonshores/ http://www.4mark.net/story/7493832/south-korea-street-view-maps-.city https://www.hackathon.io/jasonshores https://soundcloud.com/user-302113794 https://www.twitch.tv/jasonshores https://issuu.com/jasonshores?issuu_product=header&issuu_context=link&issuu_cta=profile https://permacultureglobal.org/users/38126-jason-shores https://hub.docker.com/u/jasonshores https://postgresconf.org/users/jason-shores https://ona.io/jasonshores https://peatix.com/user/13143544/view https://foss.heptapod.net/JasonShores https://forum.omz-software.com/user/jasonshores https://www.uplabs.com/jasonshores https://hashnode.com/@jasonshores https://www.mxsponsor.com/riders/jason-shortes/about https://slides.com/jasonshores

Copyright © 2023 · Contact US