30.2 C
Vientiane
Thursday, May 1, 2025
spot_img
Home Blog Page 1550

ROSEN, A TOP RANKED LAW FIRM, Encourages GDS Holdings Limited Investors to Inquire About Securities Class Action Investigation – GDS

New York, New York – Newsfile Corp. – June 19, 2023 – WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of GDS Holdings Limited (NASDAQ: GDS) resulting from allegations that GDS may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased GDS securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=17143 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On April 4, 2023, GDS announced on Form 20-F that Chief Executive Officer (“CEO”), William Wei Huang, entered into pre-paid forward sale contract transactions, which the Company previously omitted. The Form 20-F states that “Mr. Huang has in the past entered into, and may in the future enter into, certain transactions from time to time, including derivative transactions, that have and could have the effect of reducing Mr. Huang’s beneficial ownership in our company. Mr. Huang informed our company that certain variable pre-paid forward sale contract transactions in respect of 42,457,504 ordinary shares beneficially owned by him, which transactions he originally entered into between May 2020 and June 2022,would expire between March 2023 and December 2023. If Mr. Huang chooses to settle these transactions by transferring ownership of the 42,457,504 ordinary shares to the counterparties, his beneficial ownership interest in our total issued share capital may decrease to below 5%, which would trigger an automatic conversion event, unless the 5% threshold contained in our Articles of Association is reduced or he otherwise acquires beneficial ownership of additional shares to keep his beneficial ownership at or above 5% or such other threshold if so reduced.

Should this happen, all Class B ordinary shares would automatically convert into Class A ordinary shares, and the dual-class share structure would thereby be terminated. This would constitute a change of control for the purposes of certain of our, or our subsidiaries’ and the consolidated entities’, sales agreements and domestic loan facility agreements, and if such provisions under the domestic loan agreements are triggered, which could give the lenders the right to demand early repayment under these domestic loan agreements. Such change of control may result in actual, potential or alleged breaches or early termination of other contracts or agreements. The change of control potentially may also have implications for the purposes of China’s national security review regime and anti-monopoly merger filing requirements, if applicable. The occurrence of any of the foregoing may have a material and adverse effect on our business development, financial condition and future prospects.”

On this news, GDS’ American depositary receipt (“ADR”) price fell $0.74 per ADR, or 3.99%, to close at $17.80 per ADR on April 4, 2023. The next day it declined a further $0.56 per ADR, or 3.14%, to close at $17.24.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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

Yeebo Announces Annual Results for FY2022/23; Profit Attributable to Owners Surged by 131%

Forge ahead with Business Transformation; Maintain Strategic Focus on Advanced Technology-based Manufacturing Industries

Financial Highlights

For the year ended 31 March
2023

HK’000

2022

HK’000

Change
Revenue 1,325,806 1,266,641 +4.7%
Gross profit 223,292 199,656 +11.8%
Profit for the Year 661,244 282,353 +134.2%
Profit attributable to owners of the Company 615,109 266,579 +130.7%
Basic earnings per share (HK cents)

– Basic

– Diluted

63.6

63.2

27.3

27.1

+133.0%

+133.2%

Proposed second special dividend per share (HK cents) 5 n/a
Proposed final dividend per share (HK cents) 5 5


HONG KONG SAR – Media OutReach – 19 June 2023 – Yeebo (International Holdings) Limited (“Yeebo” or the “Company”, stock code: 259, which together with its subsidiaries is referred to as the “Group”) announces its annual results for the year ended 31 March 2023 (the “Year”).

With the protracted COVID-19 pandemic, the rising interest rate and inflation in many major economies, unstable political situations such as the Russo-Ukrainian War and the tension between the People’s Republic of China (the “PRC”) and the United States of America, the economic environment during the Year was full of challenges. Nevertheless, Yeebo still managed to deliver remarkable results for the Year which was attributable to the sound financial position of the Group and the resilience of its team.

The Group recorded a consolidated revenue for the Year of approximately HK$1.33 billion, representing an increase of 4.7% as compared with that for the previous financial year. Gross profit increased by 11.8% to HK$223.3 million for the Year as the Group applied strict control over material costs, adopted agile inventory management and improved labour efficiency in order to cope with the challenging business environment. Gross profit margin improved to around 16.8% from 15.8%. Profit attributable to owners of the Company was HK$615.1 million, representing a significant increase of 130.7% or HK$348.5 million as compared with that for the previous financial year. Basic earnings per share were HK63.6 cents. The Board of Directors has resolved to recommend the payments of a final dividend of HK5 cents per share and a second special dividend of HK5 cents per share for the Year.

The Company repurchased a total of 19,155,171 shares on The Stock Exchange of Hong Kong Limited during the Year, with a total consideration of approximately HK$58 million. The Board believes that the share buyback can increase both the value of the shares and return to shareholders as well as reflect the Company’s confidence in its long-term business prospects for the benefit of the Company and its shareholders as a whole.

Commenting on the annual results of the Group, Mr. Fang Yan Tak, Douglas, Chairman of Yeebo, said, “In the FY2022/23, notwithstanding the considerable economic challenges and geopolitical tensions across the world, the Group achieved growth in both revenue and profit. Such strong performance is a testament to our team’s consistent hard work and commitment to customer satisfaction. These remarkable results have afforded us the ability in enhancing our core competitiveness. We have continued our intensity in research and development, broadened our new and superior product ranges, and expanded and upgraded the production facilities. We have also been strategic and disciplined in both broadening our customer base and planning our capacity. Our corporate goal has remained intact – aspiring to be a leading operator in the advanced technology-based manufacturing industries.”

The Group’s products can be categorized into such main types as Liquid Crystal Display (“LCD”), Liquid Crystal Display module (“LCM”), Thin Film Transistor module (“TFT”) and Capacitive Touch Panel module (“CTP”). As the Group strategically focus on high-growth business segments such as industrial equipment, smart home appliances and telecommunications, and on extending the range of its offerings from the small modules to medium and large-sized display modules, the ongoing migration from pure LCD panels to LCM/TFT and CTP continued during the Year. Accordingly, the sales of CTP and TFT increased by 57% and 35% to HK$320.6 million and HK$278.9 million, respectively.

For Nantong Jianghai Capacitor Company Ltd. (“Nantong Jianghai”), it solidified its leading position in the market for capacitors and continued to deliver impressive results for the Year. The Group’s share of Nantong Jianghai’s profit increased by 18.1% to HK$228.6 million.

Nantong Jianghai reported a significant increase in sales by capitalizing on emerging industries, including new energy, electric vehicles and energy storage. Production capacity for both aluminium electrolytic capacitors for new energy and thin film capacitors has expanded remarkably, enabling Nantong Jianghai to capture the prevailing market opportunities. In addition, the expansion in production capacity has resulted in a marked improvement in production efficiency and cost reduction which serves to enhance Nantong Jianghai’s competitive strengths.

During the Year, the Group divested a total of 14,563,000 shares in Nantong Jianghai for a total consideration of approximately HK$353.7 million and realised a gain of HK$241.5 million. As at 31 March 2023, the Group held 245,021,000 shares in Nantong Jianghai with a market value of HK$6.1 billion. The Group started investing in Nantong Jianghai in 2005 and since then the business of Nantong Jianghai has grown substantially. Management believes that realising part of its gain and using the proceeds from the disposal to capture other business opportunities is in the interests of the Company and its shareholders as a whole.

For Suzhou QingYue Optoelectronics Technology Co., Ltd. (“Suzhou QingYue”), it is one of the global leaders in passive mode organic light emitting diode (“PMOLED”). Revenue for the Year increased by 42.9% to HK$1.3 billion. The Group’s share of profit from Suzhou QingYue amounted to HK$13.2 million in this Year.

During the Year, Suzhou QingYue recorded a remarkable increase in sales. This was mainly attributable to the strong growth of the e-paper module business. It is generated by the increasing adoption of electronic price label in the supermarkets and retail chain stores. Moreover, e-paper modules’ excellent characteristics of being ultra-thin, light and bendable, and requiring only low power consumption have extended the scope of its applications to other devices such as e-paper display boards, e-paper watches and electronic cards.

The technical advancement in PMOLED has enabled the application of Suzhou QingYue’s products to a wider range of industries such as healthcare, smart home applications, automotive industrial controls, consumer electronics, and security products. Significant progress has also been made in the product development of micro-OLED, especially in the near-eye display market and Suzhou QingYue is well-positioned to capture opportunities in the markets for augmented reality and virtual reality.

As a milestone of its development, the shares of Suzhou QingYue were successfully listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange (the “Suzhou QingYue Listing”) during the Year. The Group recorded a gain of HK$196.8 million on deemed disposal pursuant to the Suzhou QingYue Listing. As at 31 March 2023, the Group held 126,345,600 shares in Suzhou QingYue with a market value of HK$1.7 billion.

Mr. Fang Yan Tak, Douglas, Chairman of Yeebo, concluded, “The global economic landscape is continuously evolving, and we are faced with numerous uncertainties and challenges that may impact our future performance. Looking forward, we remain optimistic about our long-term prospects. We are investing to position the Group for accelerated long-term growth, focusing on both our core businesses as well as our growth businesses. We will also continue for the Group’s transformation and strategic focus on advanced technology-based manufacturing industries.”

Hashtag: #Yeebo

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

About Yeebo (International Holdings) Limited:

Founded in 1988, Yeebo (International Holdings) Limited is a diversified electronic component company, with a wide range of business interests in flat panel display, OLED and capacitor. Headquartered in Hong Kong, the manufacturing activities largely reside in Guangdong and Jiangsu provinces. With a global sales footprint, Yeebo is able to serve its global customers on a local basis.

The “HOYA Cup Billiards Championship,” a world premiere event, disbursed its prizes in cryptocurrency, Drawing the participation of 400 competitors vying for nearly 400,000 in total winnings, culminating in victory for billiards prodigy,Bingyi Ke.

TAIWAN – Media OutReach – 19 June 2023 – Chinese Taipei Billiards Federation joined forces with cryptocurrency exchange HOYA BIT to grandly orchestrate the first-ever HOYA Cup National 9-Ball Billiards Championship in 2023. This tournament, featuring a substantial total prize of 392,000 New Taiwan dollars, succeeded in attracting numerous billiards virtuosos. The method of prize distribution was a groundbreaking first – using Tether (USDT) cryptocurrency, adding an unprecedented innovative element to billiards competitions. To further elevate the dazzling event, this edition of the HOYA Cup Billiards Championship invited eight star-studded guest players, bringing a superior level of grandeur to the world of billiards.

The HOYA Cup Billiards Championship adhered to the latest regulations set by the Billiards Association in 2022, employing a match rule of 5-11 rounds. The total prize pool for the HOYA Cup was Tether (USDT) equivalent to 392,000 New Taiwan dollars, drawing many professional players and billiards enthusiasts to enroll. The scope of the HOYA Cup extended across Taiwan, with the preliminary rounds commencing on June 3, each venue in Kaohsiung, Hsinchu, Taichung, and Taipei was fully packed. The preliminary stage used a double elimination format with an eight-to-one knockout, ultimately advancing 64 players to the finals, including eight renowned billiard stars – Bingyi Ke, Bingzhong Ke, Binghan Ke, Shuijing Jiang, Jieyu Zhou, Kunlin Wu, Ronglin Zhang, and Jiazhen Xie.

June 11 saw the climax of the HOYA Cup Billiards Championship, with players giving their all, showcasing their exceptional skills and competitive prowess. The matches were conducted under a single elimination system. Following a series of intense battles, the finals saw a thrilling showdown between the ‘Prince of Billiards’ Ke Bingyi and ‘The King Killer’ Ke Bingzhong.

In the end, player Bingyi Ke seized the championship throne with a score of 11:5, earning 3,222 Tether coins (USDT), equivalent to 100,000 New Taiwan dollars. Post-match, Ke Bingyi expressed, “I’m elated to have participated in a competition in Taiwan, that is akin to a small-scale international match. My performance today was fairly steady, possibly due to recent active participation, my touch was maintained, I’m quite satisfied.”Bingyi Ke also conveyed his hopes to continue the momentum of the HOYA Cup into upcoming international opens in Romania and Spain, aiming to secure prominent results.

In light of the successful hosting of the HOYA Cup Billiards Championship, Peng Yunxian, CEO of the HOYA BIT Cryptocurrency Exchange, stated, “I am pleased that the first HOYA Cup received extensive support from numerous players, and I also thank the Billiards Association for their assistance. We hope the next HOYA Cup will be conducted even better, on a larger scale, promoting billiards to a broader audience.” The HOYA Cup National 9-Ball Billiards Championship has become an essential platform for players to exchange skills and improve their techniques. Simultaneously, it has injected fresh vitality and impetus into the billiards sector. We applaud the successful hosting of this event and salute the brilliant performances of all participating players. We believe in the flourishing development of billiards in the future, offering us more thrilling competitions and moments. We eagerly anticipate the next HOYA Cup National 9-Ball Billiards Championship to witness the glorious world of billiards once again.

HOYA BIT App iOS version: https://tw.hoyabit.com/wRUMG
HOYA BIT App Android version: https://tw.hoyabit.com/zXuZA
HOYA BIT Official Website: https://tw.hoyabit.com/1nxx5
Hashtag: #HOYABIT

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

Fulum announces positive profit alert and Expects to turn around from loss by recording up to 22 million in profit of FY2023

HONG KONG SAR – Media OutReach – 19 June 2023 – Fulum Group Holdings Limited (HKEx stock code: 1443, the “Group” or “Fulum”) is pleased to announced that, the Group is expected to record a net profit of approximately ranging from HK$19 million to HK$22 million for the year ended 31 March 2023 (the “FY2023”), as compared to a loss of approximately HK$49 million in the previous year, turning around form loss to profit.

The Group stated that there has been an improvement in the Group’s results for FY2023 with the Government’s subsidies through the “2022 Employment Support Scheme” as well as the gradual recovery of economic activities as the local and global pandemic began to subside. Further into the second half of year, the full border reopening between Hong Kong and mainland China in February 2023 as well as the lifting of Hong Kong’s mask mandate in March 2023 have also brought a positive effect to our business conditions.

Hashtag: #Fulum

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

About Fulum Group Holdings Limited

Fulum Group Holdings Limited, a well-known diversified catering group in Hong Kong, has more than 30 years of experience in Chinese or Cantonese catering management. Through the “Fulum(富臨)” main brand, the “Sportful Garden (陶源)” main brand and the “Concept Line (概念線)” main line, the Group provides all kinds of catering services and create a full-time catering eco-system with an aim to meet the catering needs of diners.

As at 30 September 2022, the Group operated a total of 96 restaurants in Hong Kong, including 16 restaurants under the “Fulum (富臨)” main brand, 7 restaurants under the “Sportful Garden (陶源)” main brand, 73 restaurants under the “Concept Line (概念線)” main line as well as 7 supermarkets and 3 restaurants in the Mainland China. In the recent years, the Group has launched diversified restaurants including Korean light meal restaurants, Korean barbecue restaurants, Japanese hot pot, stylish Korean and Japanese cafe and food courts. The Group established a number of food court brands to expand its revenue and market share with new business model for the recent years.

Cushman & Wakefield: Hong Kong Investment Sentiment Cautious in 1H 2023 Amid High Rates, With Local Investors and Owner-Occupiers Driving Transactions

Supported by Talent Policies, Emerging Sectors Such as Rental Apartments and Student Housing Set to Attract Investor Attention

HONG KONG SAR – Media OutReach – 19 June 2023 – Global real estate services firm Cushman & Wakefield today released its Hong Kong Investment Market Review and Outlook 1H 2023 report. Despite the border reopening, Hong Kong’s large-sized (exceeding HK$100 million) non-residential investment market had yet to rebound in the 1H period, constrained by the prevailing high-rate environment. The market was chiefly driven by local investors and owner-occupants seeking bottom-fishing investment opportunities.

The 1H 2023 investment market report closely follows the publication earlier this month of Cushman & Wakefield’s Hong Kong Talent Housing: A New Niche Sector report. The new research study highlights that expat professional and non-local student numbers in Hong Kong are set to rise under the government’s new policies to attract talent. These inflows will spur renewed demand in rental apartment categories such as co-living, multifamily, and student housing. In turn, the firm expects to see growing investor interest in these niche housing sectors.

Hong Kong Investment Market Review and Outlook 1H 2023 report key takeaways:

  • As of June 15, large-sized (exceeding HK$100 million) non-residential transaction activity for the 1H 2023 period recorded 31 deals totalling HK$18.1 billion, down 45% y-o-y from 1H 2022.
  • Local investors, capital-rich buyers and owner-occupiers were the main drivers of the investment market; 2H 2023 transaction activity is expected to rise, bringing estimated full-year consideration to HK$50 billion.
  • Hotel asset and private land site transactions were active in 1H 2023; emerging sectors such as rental apartments and student housing are likely to gain greater traction from investors ahead.

Overview of Large-Sized Non-Residential Investment Market

Despite the gradual return to normalcy after the border reopening, investors in Hong Kong remain cautious in the high-rate environment. Rising financing costs, coupled with limited options for high-yield properties in the market, have resulted in an impasse between buyers and sellers. Thirty-one large-sized (exceeding HK$100 million) non-residential deals with a total transaction volume of HK$18.1 billion were recorded in 1H 2023, with the average deal size standing at HK$585 million.

Cushman & Wakefield’s Executive Director and Head of Capital Markets, Hong Kong, Tom Ko, said, “Since the border reopened in February, the market has been anticipating an improvement in overall investment sentiment. However, the impact of interest rate hikes has outweighed the boost from the border reopening. Currently, the banking mortgage rate for commercial properties can be as high as 6%, deterring investors from entering the market. Nevertheless, property prices have corrected notably since the pandemic, creating an opportune time for local investors and end-users to take advantage of the current market and bottom-fish. As a result, these buyers were the most active in 1H 2023, with local capital accounting for almost half of the total transactions. We are now also observing greater activity from mainland investors and state-owned enterprises when compared with the prior three years of the pandemic.”

Tom Ko continued, “The 2H 2023 outlook largely depends on interest rate movements. The market expects an increase of 0.25 to 0.5 percentage points in 2H, with the high rate environment expected to last for some time. We believe that the market will continue to be supported by end-users and capital-rich investors with limited assets looking to bottom-fish before prices fully rebound. We expect total volume of large-size non-residential transactions to reach around HK$50 billion for the full-year 2023.”

Investment Transactions by Sector

Among all sectors, private land sites accounted for over 30% of transaction volume in 1H 2023, predominantly due to a headline transaction of a development site in Mid-Levels. Office and retail assets each accounted for 21% of the total consideration, including strata-title offices, high-street shops, and retail podiums, supported by demand from end-users and retail recovery trends. The industrial sector has been relatively resilient with active transactions over the last two years, and investors are still keen to explore opportunities in this sector. However, the more aggressive asking prices from landlords have led to a slowdown in industrial transactions this year. In the hospitality sector, the number of hotel deals has risen amid recovery in tourist arrivals and accommodation needs since the border reopening.

Tom Ko commented, “Hotel transactions have seen an increase in recent quarters, with several notable headline acquisitions in the market. Some investors are confident in the hotel sector’s recovery, particularly with the return of inbound travel after the border reopening. Additionally, some buyers, such as operators and real estate funds, have been eyeing the growing housing needs of incoming talent and actively purchasing hotel assets for conversion into co-living, multifamily, and student housing projects.”

Hong Kong Talent Housing Market

Cushman & Wakefield has released its latest report titled Hong Kong Talent Housing: A New Niche Sector, which highlights that, despite a decline in talent inflows during the COVID period, Hong Kong has witnessed a recovery of incoming talent since 2020. Moreover, in the latest Policy Address, Chief Executive John Lee unveiled plans to “proactively trawl the world for talent,” which is expected to result in sustained growth in incoming talent and student numbers into Hong Kong in the coming years, and to provide opportunities for rental apartment categories such as co-living, multifamily and student housing to grow. The rapid emergence of this niche sector is attracting investors’ interest.

Cushman & Wakefield’s Executive Director and Head of Research, Hong Kong, Rosanna Tang, stated, “Over the last decade, the annual average number of incoming expat professionals and non-local university students were 50,500 and 17,000, respectively. The government has implemented a stamp duty refund policy for incoming talent, but Hong Kong property prices are still among the highest in the world, making it challenging for young expats to save the lump sum required for down payments on residential purchases. As a result, more young professionals tend to opt for rental housing options that offer flexible tenancy terms and a range of services and facilities with more affordable costs.”

The report also reveals that the total university student population in Hong Kong has increased by 9% in the last decade, from 93,400 students in 2012/13 to 101,500 in 2021/22. The number of non-local students has seen significant growth of almost 50%, from 13,700 students in 2012/13 to 20,400 in 2021/22. This has pushed up the proportion of non-local students in tertiary education institutions from 15% to 20% over the same period. However, the current student-to-bed ratio at universities shows that the existing student hostel capacity is insufficient to meet accommodation needs. In some tertiary institutions, on average, six students compete for one available bed on campuses. Given the limited supply of on-campus student hostels, some non-local and even local students need to consider off-campus accommodation options, which is boosting the growth of the student and rental housing sector.

Rosanna Tang further commented, “Rental housing categories such as student housing, co-living and multifamily assets have emerged as a major trend in the global investment market in recent years. This sector is particularly popular in Europe, the United States, Australia, and Japan, and has recently gained momentum in Hong Kong. Student housing, with relatively low operating and maintenance costs, can provide high and stable occupancy and rental income, and some of these properties have also adopted master leases. With the increasing number of non-local university students and incoming expats, these assets are attractive to operators and investors seeking stable returns. Over the past two years there have been several rental-housing-related investment transactions. Most of these deals have involved partnerships or joint ventures between operators and real estate funds or institutional investors seeking to purchase hotel and residential assets for conversion and repositioning. We believe that, supported by the Hong Kong government’s efforts to actively attract incoming talent, this new niche sector will continue to gain investors’ interest in the city.”

Click here to download the latest report Hong Kong Talent Housing: A New Niche Sector

Please click here to download the photos and presentation deck.

Photo caption:
Tom Ko, Executive Director, Head of Capital Markets, Hong Kong, Cushman & Wakefield (right); Rosanna Tang, Executive Director, Head of Research, Hong Kong, Cushman & Wakefield (left)

Hashtag: #Cushman&Wakefield

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

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2022, the firm reported global revenue of US$10.1 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit or follow us on LinkedIn ().

TCL Announces 2023 Refrigerator Line Up Available in the Philippines

Extensive refrigerator range with added health and energy saving benefits to improve lives of consumers in the region

MANILA, PHILIPPINES – Media OutReach – 19 June 2023 – TCL, a leading consumer electronics brand and the world’s top two TV brand, today announced its brand new line up of intelligent refrigerators to audiences in the Philippines. The multi-functional range of models demonstrate TCL’s commitment to bringing the region advanced domestic tech at accessible price points, allowing customers to lead healthier, greener and more convenient lifestyles.

The TCL Fresh Pro | AAT INVERTER + TRF-259INV/N A Flagship Smart Fridge with Health and Energy-Saving Benefits

TCL’s AAT INVERTER + is set to be the best accessible high-tech top mount refrigerator on the market and a great example of the powerful functionality featured across the TCL Refrigerator line up.

With families in the Philippines being more health conscious than ever before, TCL AAT INVERTER +’s Healthy Fresh functions cater to their health needs. Automatic Anion-releasing Technology (AAT) coats the cabinet’s inner lining with special material, which helps with purification and antioxidation and kills 99.99%* of bacteria. The dust-free gasket is easy-to-clean and inhibits mold’s growing, adding an extra layer of protection.

As well as being better for consumers, TCL’s AAT INVERTER + is also better for the planet. Its Twin Eco Inverter provides the perfect cooling environment for food, which not only enables long-lasting freshness, but also saves energy and money. The Twin Eco Inverter also provides a steady temperature inside the refrigerator which inhibits the growth of ice, a process known as Total No Frost. Food remains frost-free so there is no need for manual defrost and no danger of food sticking to the walls of the refrigerator or being frozen when placed towards the back.

Finally, Easy-Using features give the user experience a premium feel, with little adaptations to make life more convenient, such as large storage space, Twist Ice Maker to freeze, unmold and store ice cubes with a simple gesture.

TCL’s Varied Refrigerator Range for Every Filipino Family

Asides from TCL AAT INVERTER +, TCL has an extensive range of refrigerators to suit every family’s needs. The TCL FreshPro Direct Cool+ line is an accessible but highly functionable range, with precise temperature control allowing for accurate cooling to ensure optimum conditions to preserve freshness. TCL FreshPro Direct Cool+ Refrigerators are designed to be running at low noise thanks to innovative compressors, ensuring you are never disturbed by humming or buzzing, and soft LED lighting offers excellent illumination of the fridge contents whilst saving on energy consumption.

Regarding energy saving, like the TCL AAT INVERTER +, The TCL FreshPro AAT Inverter Max collection also comes with a Twin Eco Inverter, allowing for accurate temperature control whilst reducing energy consumption and noise for a quieter and more environmentally friendly option. What’s more, the TCL FreshPro AAT Inverter Max range comes equipped with powerful cooling functions – with the press of one button, Power Cool increases the cooling rate to chill your drinks and food rapidly whilst Power Freeze further enhances the cooling effect to freeze food and ice. The Max Space feature allows families to customize storage within the fridge to suit their requirements, with daily items organized to be easily accessible whilst optimizing the space available allowing the ability to stock up on family favorites.

Discover TCL’s range of refrigerators to suit every consumer’s requirements, rolling out across retailers in the Philippines in the coming months.

* 99.99% from BV report. Tested bacteria represented were Staphylococcus aureus and Escherichia coli.

Hashtag: #TCL

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

TCL Electronics

TCL Electronics (1070.HK) is a fast-growing consumer electronics company and a leader in the global television industry. Founded in 1981, it now operates in more than 160 markets around the world. TCL specializes in the research, development, and manufacturing of consumer electronics products ranging from TVs, audio, and smart home appliances. Visit the TCL website at https://www.tcl.com.

Businesses in Golden Triangle SEZ to Only Accept Payment in Lao Kip

The Golden Triangle SEZ.
The Golden Triangle SEZ.

Businesses in the Golden Triangle Special Economic Zone will need to display a sign that reads “Accept Lao Kip Only” for payments starting Monday.

US Environmental Affairs Official to Visit Laos, Thailand, and Indonesia

Acting Assistant Secretary Littlejohn’s Travel to Laos, Thailand, and Indonesia
Acting Assistant Secretary for Oceans and International Environmental and Scientific Affairs. (Photo: Meridian)

US Acting Assistant Secretary for Oceans and International Environmental and Scientific Affairs, J.R. Littlejohn will travel to Laos, Thailand, and Indonesia from 19-24 June.