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Blue Cross achieves double-digit growth in 2023

Launches Blue Cross Elite Combo and Love Yourself VHIS Plan in first quarter of 2024 With “Just Right” protection


HONG KONG SAR – Media OutReach Newswire – 28 March 2024 – Blue Cross (Asia-Pacific) Insurance Limited (“Blue Cross”) achieved a remarkable 17.9% growth in overall business in 2023, surpassing the market’s 6.3% increase1. Maintaining the growth momentum, Blue Cross announced the launch of two new products: Blue Cross Elite Combo and Blue Cross Love Yourself VHIS Plan. The former introduces a groundbreaking concept of “multiple plans in one single policy, same coverage period, and effortless management”, and is sold exclusively by AIA Hong Kong Financial Planners who have been registered as Blue Cross’s agents. The latter allows flexible adjustment of deductible and offers an affordable, value-for-money choice of medical protection for young adults. Both products feature multiple competitive benefits in the market and cater to the needs of customers with the “just right” protection at the right time for the right budget.

Ms Bonnie Tse, Chief Executive Officer of Blue Cross (right) and Ms Sylvia Chow, Director of Marketing of Blue Cross (left) share business updates and product strategies in the press conference.
Ms Bonnie Tse, Chief Executive Officer of Blue Cross (right) and Ms Sylvia Chow, Director of Marketing of Blue Cross (left) share business updates and product strategies in the press conference.

Blue Cross delivered outstanding business results in 2023:

  • Overall business grew by 17.9%, well above the 6.3% growth in the market. All product lines outperformed the market in terms of year-on-year growth.
  • As a market leader in general insurance, Blue Cross achieved particularly strong growth in the non-medical business, with an impressive growth rate 11 times the market growth rate2. Most notable was the travel and personal accident insurance business which surged 270%, quadrupling the market’s 66.1% growth3.
  • Medical insurance has always been a growth driver for Blue Cross. Last year also saw steady growth of 8.1%, outperforming the market’s 7.5% growth in the medical business4.

Ms Bonnie Tse, Chief Executive Officer of Blue Cross, said, “Upholding its customer-first philosophy, Blue Cross has been serving Hong Kong for over 55 years and leading the industry in developing ‘just right’ products that address the needs and pain points of customers. We have been expanding customer touchpoints to enhance customer experience with seamless services online and offline. Blue Cross outperformed the market in various business segments last year. This remarkable performance is indeed a testimonial to our strategies. I believe there is still huge growth potential in the general insurance and medical insurance markets, and I remain 100% confident in our business outlook.

“Considering customers’ demand for multiple protections and flexible offerings, we have launched two new products, Blue Cross Elite Combo and Blue Cross Love Yourself VHIS Plan. Underlining innovation and flexibility, both products are designed as affordable and value-for-money offerings to address customers’ protection needs at different stages of life.”

Blue Cross Elite Combo
Blue Cross Elite Combo introduces a groundbreaking insurance concept of “multiple plans in one single policy, same coverage period, and effortless management.” It allows customers to freely choose their coverage combination from a range of insurance and customise benefit levels according to their individual needs and budget. The product is highly flexible and accentuates the freedom of choice, providing customers with all-around protection for their everyday lives and appealing to smart individuals, newlyweds as well as three-generation family households. Below are its key features.

  • Combining multiple insurance types: The plan covers six different types of insurance with a total of 22 coverage options, providing comprehensive protection for various aspects of daily life. It comprises three Basic Protection Modules – Travel Cover, Home Cover and Domestic Helper Cover, as well as three Supplementary Protection Modules that can be added as needed – Golf Cover, Leased Property Cover and Personal Cover. To enrol in the plan, customers need to choose at least one Basic Protection Module before adding a Supplementary Protection Module.
  • Better control over premium budget: Customers can freely customise the desired coverage combination and benefit level of the protection options according to budget.
  • Flexibility to change protection combination: Considering that protection needs may change at different stages of life, the plan provides flexibility to change protection combinations according to needs. There are also options for Plan Level (including Sumptuous Choice, Balanced Choice and Light Choice) or Optional Add-ons for customers to choose from, further enhancing their protection and creating a worry-free life for themselves and their families.
  • Unified policy management: The plan consolidates multiple coverage plans under just a single policy, with the same coverage period. Coverage renewal can be done together upon expiry, enhancing the convenience and ease of policy management.
  • Brand new e-Protection: Catering to today’s prevailing online shopping habit, the plan provides e-Protection under Personal Cover, safeguarding customers against identity theft and financial losses from online purchases.

Blue Cross has also launched a new advertising and marketing campaign “Customise Your Just Right Protection” to promote Blue Cross Elite Combo, featuring the perfect pair of the Blue Cross mascot and a pretty girl. They travel around Hong Kong and showcase unique product features such as its great flexibility and a diverse range of combinations and options which allow customers to customise their “Just Right” protection plan according to their needs and budget. A new video has been posted on social media and digital platforms; there were other promotions on the street to engage the public to bring out the campaign message about Blue Cross Elite Combo. Furthermore, outdoor advertising including tram stations and tram bodies, and MTR ads will soon be launched to extend its reach to the public. To view the video, click:
https://www.facebook.com/share/v/LAjpiWU4YYKJULgX/?mibextid=oFDknk

Blue Cross Love Yourself VHIS Plan
In addition, Blue Cross has launched its Love Yourself VHIS Plan, a voluntary health insurance scheme (VHIS) flexi plan certified by the Health Bureau. It allows flexible adjustment of deductible and offers an affordable, value-for-money choice for young adults. The plan provides full coverage of 17 major medical expenses incurred before, during and after hospital stay (private hospital’s ward), from diagnosis, surgery to recovery. It offers an annual benefit limit of HK$6,000,000 and a lifetime benefit limit of HK$40,000,000, with lifetime renewal guaranteed. The plan features multiple market advantages, which allow customers to customise their own cover by selecting the plan level, deductible amount, optional outpatient benefits and optional dental benefits, and enjoy a range of superb value-added services. Its key features are as follows.

  • Flexible adjustment of deductibles at milestone events in life – market-first for VHIS Plans: Considering that the financial needs and responsibilities that one shoulder will change at different milestones in life, the plan provides options for policyholders to reduce or remove the selected deductible without re-underwriting, especially in the significant events of life including having a newborn baby, buying a residential property, moving abroad, or reaching a designated age.
  • Deductible waived for specified health conditions: If the insured person is unfortunately diagnosed with designated critical illnesses, sports-related injuries and permanent total disabilities, the related deductible will be waived, providing full support to customers during difficult times.
  • Immediate cover for unknown pre-existing and congenital conditions: The plan fully covers unknown pre-existing conditions and congenital conditions which have been diagnosed at or after the age of 8, with coverage starting immediately from day one when the policy becomes effective. No waiting period is required.
  • Health & wellness benefit: For every three consecutive years the policy has been in force, customers can get reimbursed for actual expenses of wellness activities incurred within the immediately following policy year, up to HK$1,500. Covering expenses on travelling, fitness gym membership and wellness courses, this benefit aims to encourage customers to lead a healthy lifestyle.
  • Various value-added services: These include free second medical opinion, pre-hospitalisation claim assessment, no hospital bills to pay, 24-hour worldwide emergency aid, Blue Cross nursing care hotline etc.

During the promotional period, customers who enrol in Blue Cross Love Yourself VHIS Plan can enjoy a discount of up to 32% on the first-year premium5. Moreover, Blue Cross SmartClub members who enrol in Blue Cross Love Yourself VHIS Plan via Blue Cross website or Blue Cross HK App can earn double SmartPoints.

SmartClub members can now redeem a one-day ticket to Hong Kong Disneyland with 10,000 SmartPoints.

The above product information of Blue Cross Elite Combo does not include the full version of the terms and conditions. Please refer to the policy for detailed terms and conditions. For more details, please visit https://www.bluecross.com.hk/en/ePromotion/AIA_GIProducts/latest or contact AIA Hong Kong Financial Planners who have been registered as Blue Cross’s agents or call 2839 6333.

The above product information of Blue Cross Love Yourself VHIS Plan does not include the full version of the terms and conditions. Please refer to the policy for detailed terms and conditions. Promotional offers are subject to the terms and conditions. Please visit Blue Cross website at www.bluecross.com.hk or download the Blue Cross HK App.

Remarks:

  1. Source: Provisional statistics on general insurance business (direct business) published by the Insurance Authority for 2023, excluding mortgage guarantee.
  2. Source: Provisional statistics on general insurance business (direct business) published by the Insurance Authority for 2023, excluding medical and mortgage guarantee.
  3. Source: Provisional statistics on general insurance business (direct business) published by the Insurance Authority for 2023, non-medical subclass in accident and health business.
  4. Source: Provisional statistics on general insurance business (direct business) published by the Insurance Authority for 2023, medical subclass in accident and health business.
  5. It is calculated based on a 15% discount on first-year premium and up to 15% family discount.

“AIA Hong Kong” herein refers to the Hong Kong Branch and/or Macau Branch of AIA International Limited (Incorporated in Bermuda with limited liability).

“Hong Kong” and “Macau” herein refer to “Hong Kong Special Administrative Region” and “Macao Special Administrative Region”, respectively.

Disclaimers:

  • This press release is for distribution in Hong Kong only. The distribution of this press release is not and shall not be construed as an offer to sell or a solicitation to buy or a provision of any insurance product outside Hong Kong.
  • Blue Cross (Asia-Pacific) Insurance Limited is a subsidiary of AIA Group Limited. It is not affiliated with or related in any way to Blue Cross and Blue Shield Association or any of its affiliates or licensees.

Hashtag: #BlueCross

The issuer is solely responsible for the content of this announcement.

Blue Cross (Asia-Pacific) Insurance Limited

Blue Cross (Asia-Pacific) Insurance Limited (“Blue Cross”) is a subsidiary of AIA Group Limited. With over 50 years of operational experience in the insurance industry, Blue Cross provides a comprehensive range of products and services including medical, travel and general insurance, which cater to the needs of both individual and corporate customers. Blue Cross distributes its products through various channels, including AIA agency force, online platform, direct sales, BEA network, insurance agents and brokers, as well as travel agencies.

In 2023, Blue Cross is assigned financial strength rating of A+ (stable outlook) and issuer credit rating of A+ (stable outlook) by S&P Global Ratings

VinFast officially starts sales of VF e34 e-SUV in Indonesia


JAKARTA, INDONESIA – Media OutReach Newswire – 28 March 2024 – VinFast Auto (Nasdaq: VFS) has officially opened sales of the VF e34, a C-segment electric SUV with a right-hand drive configuration, marking VinFast’s first offering in the Indonesian market. The company has also introduced a unique battery subscription policy that will help reduce upfront purchase costs and highlights VinFast’s commitment to making electric vehicles more accessible to everyone.

Caption


VinFast has begun selling the VF e34 in Indonesia, marking a significant milestone in its Southeast Asian expansion. The VF e34 will have a starting list price excluding the battery of IDR 315,000,000.

With the goal of popularizing green mobility and strengthening its competitiveness in Indonesia, VinFast has also launched a unique, groundbreaking battery subscription policy, helping reduce both the upfront purchase price and ongoing running costs.

Customers will pay 1,500,000 IDR per month for up to 3,000 km and 2,600,000 IDR per month for distances over 3,000 km. This approach ensures that the combined cost of the battery subscription and charging remains significantly lower than operating a gasoline car in the same segment for frequent drivers.

According to the battery subscription policy, VinFast will maintain and replace the battery free of charge if capacity falls below 70%, reducing the burden of potential battery degradation repair or replacement costs, as well as ensuring peace of mind for customers throughout the ownership of the VF e34. Additionally, the VF e34 comes with VinFast’s standard 10-year warranty for the vehicle.

Mr. Tran Quoc Huy, VinFast Indonesia CEO, said: Following our successful debut at the 2024 Indonesia International Motor Show, VinFast is proud to bring its first right-hand drive electric car to Indonesia, marking a significant step in our ambitious expansion plans in Southeast Asia. With the modern, powerful, and capable VF e34 model, we aim to support Indonesian consumers on their journey towards a sustainable transportation future”.

The VF e34 measures 4,300 mm long, 1,793 mm wide, and 1,613 mm tall with a 2,611 mm wheelbase and 180 mm of ground clearance. Equipped with an electric motor with a maximum output of 110 kW and 242 Nm of torque, it utilizes a front-wheel drive system for a smooth and efficient ride. As a result of its 42-kWh battery pack, the VF e34 boasts a range of 318 km on a single charge, making it the perfect companion for daily commutes.

The vehicle is fully equipped with advanced safety features and a suite of user-friendly smart technologies that come standard, including remote software updates, voice control support, battery charging status monitoring, and more. Additionally, the VF e34 boasts theft risk warnings and the ability to remember user usage habits for a more personalized experience.

As VinFast’s first electric vehicle to lead Vietnam’s green transportation revolution, the VF e34 arrives in Indonesia ready to redefine urban mobility. This smart and dynamic SUV promises a new lifestyle for city dwellers, all while accelerating the growth of the Indonesian electric vehicle market. The first VF e34 cars are expected to be delivered to Indonesian customers in the second quarter of this year.

VinFast is targeting expansion to at least 50 countries in 2024. In addition to key markets such as the U.S., Canada, and Europe, VinFast is building its presence in neighboring countries in Southeast Asia such as India, Indonesia, Thailand, and the Philippines, as well as the Middle East and Africa. Alongside its Vietnamese operations, VinFast is also accelerating the construction of manufacturing plants in the U.S. and India, with plans for an additional plant in Indonesia.

Hashtag: #VinFast

The issuer is solely responsible for the content of this announcement.

About VinFast

VinFast – a member of Vingroup – envisioned to drive the movement of the global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with scalability that boasts up to 90% automation in Hai Phong, Vietnam.

Strongly committed to the mission for a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy for all to inspire global customers to jointly create a future of smart mobility and a sustainable planet. Learn more at:

AIM Vaccine Announces 2023 Annual Results

Three Highly Anticipated Flagship Upgraded Vaccines Filing for Market Listing; Significant Breakthrough Achieved in the International Market


HONG KONG SAR – Media OutReach Newswire – 28 March 2024 – AIM Vaccine Co., Ltd. (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce the results for the year ended 31 December 2023 (the “Period”).

As of December 31, 2023, AIM Vaccine has obtained a total of 14 clinical approvals and conducted 21 clinical trials. Among them, 5 vaccine varieties have reached the final stage of Phase III clinical trials. The construction of the production workshops for these 5 vaccine products in Phase III is have been substantially completed, and various preparations for market launch are currently underway. In 2024, the company plans to submit market applications for 3 products and initiate clinical applications for 7 other products.

During the reporting period, the full course of vaccination in Phase III clinical trial of 13-valent pneumonia conjugate vaccine (PCV13) was completed, and we have submitted the pre-application for marketing registration to the NMPA; the full course of vaccination in the subjects in Phase III clinical trial of 23-valent pneumonia polysaccharide vaccine (PPSV23) and iterative serum-free rabies vaccine was completed; EV71-CA16 bivalent HFMD vaccine (HDC) as a global innovative vaccine which is being developed for the first time worldwide has obtained clinical approvals; and iterative mRNA rabies vaccine is the first nonCOVID-19 mRNA vaccine candidate accepted by relevant authorities in China.

According to the announcement, AIM Vaccine has maintained a high level of investment in research and development, with R&D expenses reaching RMB 636.4 million in 2023. This represents a 27.2% increase compared to the same period in 2022. The proportion of R&D revenue stands at 53.6%, positioning the company at the forefront of the industry.

Integrating Industry’s Finest Resources | Abundant Vaccine Pipeline | Multiple Game-Changing Flagship Products Entering Harvest Season

AIM Vaccine is an extremely rare comprehensive vaccine industry group that possesses advantages in four dimensions: pipeline, research and development, production, and sales. Currently, the company has commercialized 8 vaccines targeting 6 disease areas and is developing 21 vaccine candidates. Its pipeline covers the top 10 vaccine varieties worldwide. Notably, the recombinant HBV vaccines and freeze-dried human rabies vaccines are our key commercialized market-leading vaccine products, making AIM Vaccine the largest hepatitis B vaccine manufacturer and the second-largest rabies vaccine manufacturer globally.

Among them, the recombinant hepatitis B vaccine is and is expected to continue as a major type of commercialized product for AIM Vaccine. Currently, AIM is the first and only company in China with steady production and approved lot release of HBV vaccines using Hansenula Polymorpha for antigen expression. Since its approval, recombinant HBV vaccine series products have maintained a 100% pass rate in lot release quality audits of NIFDC. With the shift from universal newborn vaccination to vaccination for the entire population, hepatitis B vaccination presents a new growth opportunity for the company.

The freeze-dried human rabies vaccine (Vero cell), known for its high quality and stability, remains a key competitive factor in the market. Since its commercialization in 2007, AIM’s production of the lyophilized human rabies vaccine (Vero cell) has maintained a 100% approval rate in batch release inspections by the NIFDC for the past 16 years.

Following the established corporate strategy of the Company, AIM Vaccine proactively advance the development of the vaccine pipelines and accelerate the research and development of iterative pneumonia series vaccines through on-going technological innovation, achieving new productive forces at an accelerated pace. Leveraging the advantages of the polysaccharide conjugate vaccine technology platform, AIM Vaccine have developed a series of pneumonia vaccines, including: (1) the 13-valent pneumonia conjugate vaccine, which has completed on-site work for Phase III clinical trial and has submitted a pre-application for marketing; (2) the 23-valent pneumonia polysaccharide vaccine, which has also completed Phase III clinical trial and is expected to apply for marketing registration in 2024; (3) the 20-valent pneumonia conjugate vaccine, which has submitted a preapplication for clinical trials; and (4) the 24-valent pneumonia conjugate vaccine, which is being simultaneously developed globally for the first time and has completed preclinical research.

In the layout of the rabies vaccine series, AIM is leading the deep technological iteration and upgrade of global rabies vaccines, aiming to provide the market with upgraded and advanced rabies vaccine products that offer better quality, higher safety, and require fewer doses for administration. This will further strengthen the company’s competitiveness in the rabies vaccine market. The on-site work of the Phase III clinical trial of iterative serum-free rabies vaccine has been completed, and various preparatory work for the new drug marketing application is underway, which is planned to be completed in 2024; The CTA for the novel-process highly-effective human diploid rabies vaccine is expected to be submitted in 2024; and the iterative mRNA rabies vaccine is the first non-COVID-19 mRNA vaccine candidate accepted by relevant authorities in China.

Accelerating Efficient Vaccine Development through a Comprehensive Technological Platform. Rapid Advancement in the Pipeline Layout of mRNA Technology Platform

AIM Vaccine have five proven human vaccine platform technologies covering innovative technologies, such as mRNA vaccine, genetically engineered vaccine, and combination vaccine technologies, as well as traditional technologies, such as bacterial vaccine and viral vaccine technologies. Leveraging these platforms, we are well positioned to develop a steady and fit-for-purpose stream of vaccines that are efficient to manufacture. We have at least one approved product or one vaccine candidate at CTA or clinical stages under each platform. At the same time, the Company is currently designing the structure of antigens and mRNA sequence of vaccines leveraging artificial intelligence, and is trying to leverage artificial intelligence to assist in process research and development of vaccines. Looking forward, the Company expects to increase the depth of existing applications and expand its applications in clinical trial data analysis.

Notably, AIM Vaccine’s mRNA technology platform has been validated through clinical trial data from tens of thousands of subjects. The safety and efficacy of platform products have been thoroughly demonstrated. AIM Vaccine has developed several mRNA COVID-19 vaccines that have undergone clinical trials, allowing for accelerated development and registration of products. Within this platform, AIM has developed the mRNA iterative rabies vaccine, which is the first non-COVID mRNA vaccine product accepted domestically in China. Two other highly anticipated products, the mRNA respiratory syncytial virus (RSV) vaccine and mRNA herpes zoster vaccine, are expected to complete clinical trial applications in 2024.

Additionally, AIM Vaccine have submitted pre-applications to the NMPA for clinical trials of the Company’s 20-valent pneumonia conjugate vaccine (PCV20), haemophilus influenzae type b (Hib) conjugate vaccine, adsorbed tetanus vaccine, quadrivalent influenza virus vaccine (MDCK Cells) and novel-process highly-effective human diploid rabies vaccine. AIM Vaccine has also submitted a preclinical trial application for its quadrivalent MDCK cell-based influenza vaccine, which is currently under development.

Future Outlook: Strengthening Monopoly Advantage and Expanding International Market for Global Vaccine Shortages.

In recent years, the vaccine industry in China has strengthened the monopoly advantage of vaccines in disease prevention, elevated the status of vaccines in the overall biomedical industry, and facilitated the industrialization of new technologies for biotechnology and the implementation of related policies, establishing a foundation for the long-term development of the vaccine industry. The significant increase in exports of vaccines has greatly boosted the confidence of Chinese pharmaceutical companies in their international expansion.

Furthermore, in order to accelerate the promotion of internationalized business, the Company specifically set up an international business department to push forward the implementation of series of internationalized layout, and is ready in all aspects such as overseas marketing permission, product research and development and manufacturing. The Company’s vaccine products are entering the global market.

At present, the Company has various specific overseas markets and has begun the registration of marketed products in regions such as Southeast Asia, Africa, South America and the Middle East. The Company’s rabies vaccine has obtained the registration licenses in countries such as Pakistan.

In terms of products under development, the Company has set up product pipelines with close reference to the needs of the international market. In accordance with the latest World Health Organization’s vaccine prequalification list (2024-2026), the Company is rapidly promoting the research and development of the 13-valent pneumonia conjugate vaccine and the tetravalent meningococcal conjugate vaccine, both being high-priority qualified vaccines. In addition, the Company is proactively researching and developing the RSV vaccine and the shingles/herpes zoster vaccine, both of which are also the varieties in short supply in the international market. The Company is making efforts to promote the marketing registration and sale of these products within and outside China, and to achieve the World Health Organization’s prequalification for the vaccines.

In terms of on-sale products, HAV vaccine, HBV vaccine and rabies vaccine launched by the Company are medium-priority qualified products by the Word Health Organization, all of which are welcomed in the international market.

In terms of production capacity construction, the Company has completed construction of GMP workshops for iterative pneumonia series vaccines and iterative rabies series vaccines in batches, and all of these workshops meet the international standards. Phase III clinical samples of 13-valent pneumonia conjugate vaccine and 23-valent pneumonia polysaccharide vaccine are produced in these workshops, helping the Company get fully ready for the quick entry into the overseas market of such products upon marketing.

With the increase in China’s economic strength, the biopharmaceutical industry, including the vaccine sector, has been identified as a strategic emerging industry and is encouraged and supported by the national government. Therefore, AIM Vaccine has entered a period of intense application for major upgraded products in 2024. Three significant products are expected to complete the application process and be launched within the year, which is projected to drive substantial revenue growth for the company.
Hashtag: #AIMVaccine

The issuer is solely responsible for the content of this announcement.

About AIM Vaccine Co., Ltd.

AIM Vaccine (stock code: 06660) is committed to manufacturing conscientious vaccines and promoting the health of the people. It is the second-largest vaccine group in China and the largest private-sector vaccine group, with a complete industry chain. AIM Vaccine is a leading company in the Chinese vaccine industry and one of the top players in the mRNA vaccine field. As one of the most strictly regulated industries in the country, China has over 40 vaccine production qualifications nationwide. Currently, AIM Vaccine owns four wholly-owned licensed vaccine production companies and three vaccine research institutes. It is one of the only two human vaccine companies in China with strategic resources such as P3 laboratories. AIM Vaccine is also the world’s largest manufacturer of hepatitis B vaccines and the second-largest manufacturer of rabies vaccines globally.

AIM Vaccine has a portfolio of eight commercialized vaccines and 21 vaccines under development, covering the top ten vaccine varieties globally. Its commercialized products have maintained a leading market position for a long time, with sales covering all 31 provinces, municipalities, and autonomous regions in China, reaching over 2,000 district and county-level disease control centers.

Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology


MUNICH, GERMANY – Media OutReach Newswire – 28 March 2024 – Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) and HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (HD KSOE) have signed a non-binding Memorandum of Understanding (MoU) as a first step towards jointly developing emerging applications for the electrification of marine engines and machinery using energy-efficient power semiconductor technology.

Infineon and HD KSOE jointly work on power solutions creating eco-friendly propulsion drives for ships that uses electricity and hydrogen as shown on this concept design of a LH2 carrier by HD KSOE.
Infineon and HD KSOE jointly work on power solutions creating eco-friendly propulsion drives for ships that uses electricity and hydrogen as shown on this concept design of a LH2 carrier by HD KSOE.

HD KSOE, a marine pioneer and global leader in ship building, is already focusing on creating eco-friendly decarbonized ship technology that uses electricity and hydrogen. The company will now cooperate with Infineon to create innovative power solutions for propulsion drive technology, a core element for ship electrification. Power semiconductors from Infineon drive the transformation towards clean, safe, and smart mobility services across all means of transportation. For modern maritime applications they are a key factor in guaranteeing a precise control of multiple power modules, such as large-capacity propulsion drives.

Infineon will provide HD KSOE with technical assistance and mentoring in semiconductor power modules and system solutions, as well as share information on new semiconductor trends for marine applications. With the partnership HD KSOE aims to enhance reliability and performance of marine vessels’ propulsion drive technology contributing to environmental sustainability through the electrification of ships.

Worldwide, maritime transport is responsible for almost 2.5 percent of total greenhouse gas emissions, according to the International Maritime Organization. It produces one billion tons of CO2 each year. The transition to electric ships is imperative to mitigate the environmental impact of maritime transportation.

“We are pleased to sign an MoU with Infineon, which underpins our innovation efforts to become a leader in ship electrification technology,” said Chang Kwang-pil, Chief Technology Officer of HD KSOE. “Together, we will combine our strengths to create energy-efficient power solutions for CO2-friendly propulsion drives.”

“At Infineon we are providing the technologies needed in today’s world of transportation to drive electrification that will shape the future of mobility,” said Dr. Peter Wawer, Division President Green Industrial Power at Infineon Technologies. “We are excited to work closely together with HD KSOE to develop clean, safe and smart mobility solutions. This way, we contribute to a more sustainable marine engine ecosystem and drive the decarbonization of shipping.”

Hashtag: #Infineon #electrification #sustainability #powersemiconductor



The issuer is solely responsible for the content of this announcement.

About Infineon

Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 58,600 employees worldwide and generated revenue of about €16.3 billion in the 2023 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).

Mainland Southeast Asian Nations Unite to Address Burning Season Impact on Public Health, Environment

(Photo: Luang Prabang TV)

The onset of the annual burning season in Southeast Asia has prompted significant alarm over its detrimental effects on air quality and public health. This customary practice, prevalent in countries like Laos, Thailand, Cambodia, and Myanmar, involves controlled fires for land clearance ahead of agricultural activities.

To address the issue, government officials from areas bordering Laos and Thailand gathered on 27 March in Chiang Mai, Thailand, to strategize collaborative solutions. Representatives from the Lao provinces of Xayabouly and Bokeo, along with counterparts from Cambodia and Myanmar, attended the meeting.

Participants acknowledged the harmful effects of bushland burning and the urgent need to mitigate air pollution, particularly the surge in PM 2.5 levels, which pose significant health risks to the populace.

To combat the crisis, authorities have issued directives aimed at enacting legislation to prevent and suppress forest fires, with a particular focus on curbing traditional burning practices used by farmers. 

Efforts are also underway to disseminate information to the public, raise awareness about the root causes and implications of air pollution, and advocate for community engagement to halt the burning practices for land clearance.

However, the pollution issue is compounded by the hot and dry weather conditions, which increase the likelihood of forest fires and render them more challenging to contain.

Recently, a wildfire erupted in Luang Prabang near the renowned tourist site of Phadaeng Mountain in Ngoi district, resulting in significant destruction. Despite authorities managing to extinguish the fire, the blaze damaged property valued at over LAK  80 million (3,796), including water pipes, sleeping bags, plastic water storage tanks, and toilets, as reported by the Vientiane Times.

Meanwhile, the Thai government seems to be considering banning corn imports from neighboring countries next year to address the surge of PM2.5 fine dust pollution in the North. The ban aims to curb burning practices used by farmers to clear agricultural waste, according to Thai Prime Minister Srettha Thavisin.

In northern Thailand, an estimated 1 million rai of land across 10 provinces was expected to succumb to wildfires between February 19-25, attributed to local burning practices.

Proposals to enhance monitoring and establish fire patrols have been put forth to swiftly detect and extinguish fires, preventing further environmental degradation.

As the annual burning season persists, concerted efforts are underway to mitigate its adverse effects, safeguarding both environmental sustainability and public health across Southeast Asia.

Viral Post Sparks Storm Over Shutdown of Undergarment Stall in Vientiane

Viral Post Sparks Storm Over Shutdown of Undergarment Stall in Vientiane
Latdavanh's garment shop (photo: Lathdavan Em Noy)

Social media in Laos is buzzing with disbelief and criticism following a viral Facebook post by a shopkeeper detailing how authorities had ceased her from selling undergarments.

Huawei Cloud Continues To Build Strong Ecosystem Foundations For Partners To Drive Growth And Carve New Opportunities In Industry Digitisation


DONGGUAN, CHINA – Media OutReach Newswire – 28 March 2024 – Artificial Intelligence (AI), deep partner collaboration, and building a strong ecosystem foundation were championed as next-level growth engines to new opportunities in industry digitisation at the recent Huawei Cloud APAC Partner Connection Summit 2024.

Huawei Cloud Asia Pacific hosted approximately 500 participants comprising partners from over 13 countries at its invitation-only partner event, held under the theme ‘Accelerate Intelligence with Everything as a Service’. The annual summit took place on March 26 and 27 at Huawei’s Songshan Lake Campus, in Dongguan, China.

Gratitude to the Partners and Growth Milestones

In the summit’s opening address, President of Huawei Cloud Computing Global Marketing and Sales Service Dept Jacqueline Shi attributed the tremendous growth in the last four years to the immense support of its partners. She highlighted that in the Asia Pacific region, there was a 300% increase in the number of partners with annual revenue exceeding $10 million, $5 million, and $1 million.

Jacqueline Shi, President of Huawei Cloud Computing Global Marketing and Sales Service Dept
Jacqueline Shi, President of Huawei Cloud Computing Global Marketing and Sales Service Dept

“KooVerse, our global infrastructure, covers 30 Regions and 84 availability zones and we are still expanding our coverage. We strive to build Huawei Cloud KooVerse into the bedrock for global partners to quickly explore local business in a secure, compliant manner, and empower customers with the best performance and experience.”

“In the past few years, Huawei Cloud has been investing in technologies. We are the leading cloud service provider in Big Data & AI. Huawei will continue as an innovative company and provide customers and partners with the most advanced technologies and solutions,” she said.

Jacqueline further elaborated, “Huawei Cloud has accumulated excellent experience in the digital transformation of China’s Internet and government & enterprise industries, we hope to bring these best practices from China to our customers and partners on the global stage. We hope we can help build a localized ecosystem for governments, enterprises and partners in countries and regions outside China.”

Huawei Cloud Ecosystem Strategy for 2024

In his keynote speech, President of Huawei Cloud Computing Global Ecosystem Dept Ken Kang outlined the key areas that will drive the Huawei Cloud ecosystem strategy for 2024. “At present, we have more than 45,000 partners worldwide to provide customers with end-to-end services. Through both online and offline sales channels, we have contributed thousands of sales opportunities to our partners and achieved an overall sales growth of 123% through Huawei Cloud Store KooGallery, forming a win-win situation.”

Ken Kang, President of Huawei Cloud Computing Global Ecosystem Dept
Ken Kang, President of Huawei Cloud Computing Global Ecosystem Dept

“Developers are the core of our ecosystem. With more than 160 innovation centers and two competency centers around the world, we equip developers with enablement, certification and technical support services. Our pool of developers outside of China has developed a CAGR of over 400%.”

Ken elaborated that the six industries of focus are finance, retail, carrier, healthcare, education, and automobile, where more than 100 joint solutions will be built based on customer requirements to accelerate the digital transformation of industry customers. Additionally, a Digital Transformation and System Integration partner program centering on consulting and industry Systems Integrators (SIs) will be kicked off. Manpower resources for partners will be increased via the deployment of Dedicated Partner Success Managers in Huawei offices outside of China.

Hybrid Cloud Takes the Lead with Fast Breakthroughs in Big Data & AI Markets

Huawei Cloud APAC President Zeng Xingyun zeroed in on the fast breakthroughs Huawei Cloud has scored in the Big Data & AI markets in his keynote presentation. In 2023, it is expected that the overall cloud business in Asia Pacific will grow by 77%, the number of big data and AI projects will increase fivefold, and the revenue will increase tenfold. In the past four years, the revenue of Huawei Cloud in the Asia Pacific has increased twentyfold, making it the fastest-growing mainstream cloud service provider in the Asia Pacific.

Zeng Xingyun, Huawei Cloud APAC President
Zeng Xingyun, Huawei Cloud APAC President

“We will focus on 6 star products and solutions, including Huawei Cloud Stack, Big Data & AI, Media Services, Database, Security and PaaS, to deepen cooperation with top professional partners. In addition, we will provide 15% to 25% in extra incentives to help partners improve their professional service and sales capabilities and develop key products and solutions in market segments.”

Meanwhile, Frost & Sullivan’s Emerging Asia-Pacific Hybrid Cloud Market Report placed Huawei Cloud ahead of all other providers in terms of market performance, technical innovation, and customer services. Additionally, Huawei Cloud took top market share in the hybrid cloud markets in Hong Kong (China), Thailand, Bangladesh, Maldives, and Sri Lanka and is second in Singapore and Malaysia.

He also outlined the six collaborative efforts for shared success, which were shared sales, shared market, shared ecosystem, shared infrastructure, shared technology, and shared platform.

Partner Sales Acceleration

Meanwhile, in another keynote address, President of Huawei Cloud APAC Sales Partner Development Dept Nicole Lu mentioned that in 2024, Huawei Cloud will continue to strengthen the win-win model for partners in the Asia Pacific region entrust partners to help us build and develop the market, and enable partners to directly reach customers, so as to explore business opportunities and expand the business scope.

Nicole also revealed the expansion of the Big Bet Partners Program. First introduced in 2023, it targets partners who have made or intend to make $1 million. The program has large revenue targets, which will be set in signed framework agreements. There will be an additional 15% incentive and preferential distribution of Huawei opportunities to ensure targets are met.

Cloud for AI, AI for Cloud

To help organisations leverage on AI, Huawei Cloud’s Chief Product Officer William Fang in his keynote emphasised the two-prong strategy offered by Huawei: ‘Cloud for AI’ and ‘AI for Cloud’.

The ‘Cloud for AI’ strategy helps organisations ensure their cloud infrastructure capably supports the effective use of AI. In ‘AI for Cloud’, Pangu Models are bridging the chasm between AI and industry needs with powerful scenario and industry-specific models. For example, the Pangu automotive model provides AI-assisted vehicle design while the Pangu weather model enables typhoon tracking.

Key innovations that were emphasised were GaussDB, Pangu AI Models, Huawei Cloud Stack amongst others.

At this summit, Huawei Cloud launched the product portfolio for small and medium-sized businesses (SMBs), including HECS X Instance, HECS L Instance, HCCE, and HGaussDB, which will be available in April. HECS X instance is Huawei Cloud’s new solution, purpose-built for flexible computing. It marks how Huawei Cloud is supporting the shift from elastic computing to flexible computing, to meet customer needs with adaptive computing on demand. With HECS X instance, users can select whatever they want from more than 100 custom specifications. It offers two times the performance at the same specifications and the leapfrog experience at an affordable price.

Mark Chen, President of Huawei Cloud Computing Solution Sales Dept, pointed out that Huawei Cloud will bring value to customers and partners through continuous innovation of the preceding products and solutions. In addition, Huawei Cloud will work with partners to launch products and solutions in the GTM phase, facilitating end customers to use the cloud and manage the cloud.

Huawei Cloud AI Services APAC Partner Ecosystem Kick-off
Huawei Cloud AI Services APAC Partner Ecosystem Kick-off

The summit also marked the launch of the Huawei Cloud AI Services APAC Partner Ecosystem, as well as presented partners with various awards in recognition of their outstanding work and significant achievements in various areas of cloud technology.
Hashtag: #HuaweiCloudAPAC

The issuer is solely responsible for the content of this announcement.

AIA Hong Kong Wins More Than 20 Accolades at MPF Ratings MPF Awards, BENCHMARK MPF of The Year Awards and Bloomberg Businessweek Top Fund Awards


HONG KONG SAR – Media OutReach Newswire – 28 March 2024 – AIA Hong Kong is committed to providing outstanding MPF products and services for customers. Its efforts and dedication have been recognised in three leading industry awards recently, winning more than 20 accolades for excellence in its MPF scheme and funds. The recognitions included nine honours in MPF Ratings’ “2024 MPF Awards”, where AIA Hong Kong’s MPF scheme achieved the “GOLD Rating” – the programme’s highest designation – for the fourth consecutive year; four best-in-class fund awards at the BENCHMARK MPF of the Year Awards 2023; and seven recognitions at the Bloomberg Businessweek Top Fund Awards 2023.

Ms Amelie Shen, Chief Corporate Solutions Officer of AIA Hong Kong & Macau, receives several awards on behalf of the Company at MPF Ratings’ “2024 MPF Awards”.
Ms Amelie Shen, Chief Corporate Solutions Officer of AIA Hong Kong & Macau, receives several awards on behalf of the Company at MPF Ratings’ “2024 MPF Awards”.

Industry Awards Awards
MPF Ratings 2024 MPF Awards
  • Gold Rated Scheme (4th consecutive year)
  • Best TVC Provider (5th consecutive year)
  • Environmentally Responsible (3rd consecutive year)
  • Equity Fund (US) Category: Consistent Performer (20 Years, 15 Years)
  • Equity Fund (Asia) Category: Consistent Performer (10 Years, 5 Years, 1 Year)
  • Mixed Asset (81-100 Equity) Category: Consistent Performer (10 Years)
BENCHMARK MPF of the Year Awards 2023
  • Best-in-Class in Asia-Pacific ex-Japan Equity Category
  • Best-in-Class in European Equity Category
  • Best-in-Class in Global Equity Category
  • Best-in-Class in Greater China Equity Category
  • Outstanding Achiever in Guaranteed Fund Category
  • Outstanding Achiever in US Equity Category
Bloomberg Businessweek Top Fund Awards 2023
  • Best Performer (1-year return) – US Equity Category
  • Best Performer (1-year return) – Growth Mixed Allocation Category
  • Outstanding Performer (1-year return) – Global Equity Category
  • Best Performer (5-year return) – Global Equity Category
  • Outstanding Performer (5-year return) – US Equity Category
  • Best Performer (10-year return) – Global Equity Category
  • Outstanding Performer (10-year return) – Growth Mixed Allocation Category

Ms Amelie Shen, Chief Corporate Solutions Officer of AIA Hong Kong & Macau, said, “At AIA Hong Kong, customer centricity is at the core of everything we do, and we appreciate that MPF is an important part of people’s retirement reserves. We are proud to receive these important industry awards, in particular the ‘GOLD Rating’ for our MPF scheme. To receive the highest recognition from an independent MPF research provider for the fourth straight year reflects the consistent outstanding performance of our scheme in terms of offering value for money, providing a comprehensive MPF experience and helping our members grow their MPF savings. These MPF fund awards, which cover numerous regions and short, medium, and long terms, are testaments to our strategy and relentless efforts in achieving excellence for our members. We will continue to help members plan well for their retirement in a multitude of aspects to live ‘Healthier, Longer, Better Lives’.”

Remarks:

  • MPF Ratings’ assessment covers three primary components with different weights: Fund Choices and Performance, Fees and Charges, and an assessment of overall services.
  • The “BENCHMARK MPF of the Year Awards” recognise MPF funds with the best long-term performance in Hong Kong. The award is designed to help scheme members identify the best risk-adjusted returns among MPF schemes’ constituent funds.
  • Bloomberg Businessweek (Chinese Edition)’s “Top Fund Awards” applies a Bloomberg data–driven and performance-based methodology to evaluate funds subject to asset class categories and identify the best-performing funds.
  • The above information is for reference only. The awards are not indicative of the actual and future performance of the relevant funds. Investment involves risks. Past performance is not indicative of future performance. If one is to compare the performances of constituent funds in the same category, the comparison should be made across funds of similar risk levels, investment strategies and objectives according to their net performances over a longer period of time. The above information does not constitute investment advice or a recommendation to buy, sell or hold any fund, and it should not be taken as a sale or an offer of any fund or participation in any MPF scheme. One should consider their own risk tolerance level and financial circumstances and refer to the MPF Scheme Brochure for details (including risk factors and fees and charges) before making any investment decision.

Hashtag: #AIAHongKong

The issuer is solely responsible for the content of this announcement.

About AIA Hong Kong & Macau

AIA Group Limited established its operations in Hong Kong in 1931. To date, AIA Hong Kong and AIA Macau have over 16,000 financial planners1, as well as an extensive network of brokerage and bancassurance partners. We serve over 3.5 million customers2, offering them a wide selection of professional services and products ranging from individual life, group life, accident, medical and health, pension and personal lines insurance to investment-linked assurance schemes with numerous investment options. We are also dedicated to providing superb product solutions to meet the financial needs of high-net-worth customers.

1 As at 30 September 2023
2 Including AIA Hong Kong and AIA Macau’s individual life, group insurance and pension customers (as at 30 September 2023)