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CloudMile Launches Information Security Management Solution Responding to the Growing Risks of Cloud and AI Applications

Streamlining hybrid multi-cloud risk management to help corporates safeguard against data breaches


HONG KONG SAR – Media OutReach Newswire – 13 March 2024 – Effectively managing information security risks has become the foremost challenge for businesses in light of the growing popularity of digital transformation. CloudMile, a leading artificial intelligence and cloud service provider in Asia, announces the launch of its “Information Security Management Solution” tailored for corporate clients, dedicating to addressing risks associated with hybrid multi-cloud environments and AI applications. Leveraging the robust data ecosystems of major public clouds and real-time technical support from the CloudMile team, the solution aims to help enterprises defend against cyber security threats.

CloudMile Launches Information Security Management Solution Responding to the Growing Risks of Cloud and AI Applications
CloudMile Launches Information Security Management Solution Responding to the Growing Risks of Cloud and AI Applications

Increasing Risks of Data Leaks Arising from Cloud and AI Applications

As various cloud-native solutions continue to advance in sophistication, many enterprises are gradually migrating their traditional data centres to the cloud to reduce hardware procurement and maintenance costs while increasing the scalability and flexibility of their organisations. However, in hybrid cloud environments, businesses are confronted with risk management challenges during the integration of cloud and on-premises systems, including a lack of clarity on the differences between cloud and on-premises information security products and a lack of knowledge among internal staff in utilising and implementing cloud security products, etc. In case of user error or misconfiguration in the cloud, the resulted data leaks can lead to significant losses for businesses.

Together with the widespread applications of Generative AI (GenAI) in recent years, the data and relevant information collected and stored herein may be shared with third parties such as vendors and service providers. During the process of sharing data, unauthorised attackers may gain access to and steal the data. Without necessary data protection measures in place, this exposes information security risks, such as data breaches and theft of user information.

84% of Organisations Experienced Hacking Incidents Last Year

According to the latest survey conducted in 2023 by security solution provider Fortinet, 84% of respondents indicated that their organisations had been hacked at least once in the past year. Among those affected, 48% of enterprises reported economic losses exceeding $1 million (equivalent to approximately HKD 7.8 million) due to vulnerabilities in information security. In addition, 46% of the organisations considered “cloud security skills” as the most needed information security skill by businesses today. Last year, two public institutions in Hong Kong fell victim to hackers, resulting in the theft of a significant volume of sensitive data and subsequent demands for ransom. These incidents underscore the increasing importance of information security. Businesses can protect their sensitive and confidential data through third-party professional information security management services.

Simplifying Cloud Management Processes Through Information Security Solutions

CloudMile specialises in providing cloud computing and AI consulting and delivery services. Serving over 700 companies in the Asia-Pacific region, CloudMile has successfully assisted various large and well-known enterprises in cloud migration, showcasing extensive experience in cloud architecture. The “Information Security Management Solution” offered by CloudMile encompasses a holistic assessment, implementation planning, and professional delivery. This comprehensive approach helps clients examine and evaluate their existing security frameworks and resources while also developing blueprints and execution guidelines that align with key reform objectives. The solution enables clients to establish a complete security framework from three perspectives: Personnel, Processes, and Technology.

The solution incorporates international information security standards, including ISO 27001, NIST, and CISHIPPA, ensuring compliance and robust protection. It assists enterprises in performing assessments on the current security framework, defining objectives and implementation items, developing blueprints and information security governance strategies, as well as evaluating existing security defense mechanisms, corporate security culture, governance practices, and reform priorities. CloudMile also provides businesses with professional standardized deployment methods, including the technical planning and cloud environment setup, network construction, security architecture, and staffing, all crucial elements in safeguarding against cyber threats. Additionally, CloudMile offers Cloud FinOps services to optimize cloud architecture and provides education, training, and real-time technical support to solve clients’ technical challenges.

Eric Wong, Country Manager, CloudMile Hong Kong, says, ‘The global trend of enterprises migrating to the cloud has become increasingly prominent, presenting businesses with challenges in hybrid IT and transformation. In hybrid and multi-cloud environments, CloudMile’s services offer comprehensive protection to safeguard enterprises’ underlying hardware infrastructure, ensure network transmission encryption, and fortify defenses against external attacks. By simplifying risk management processes, we aim to offer suitable value-added services for enterprises to relieve IT professionals of management burdens, allowing them to focus their valuable time on core business activities, thereby creating maximum value for businesses’ hybrid multi-cloud applications.’

Hashtag: #CloudMile


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

CloudMile

CloudMile, a leading AI and cloud technology company in Asia, focuses on driving digital transformation for corporate clients and fostering business growth. Leveraging machine learning and big data analysis, CloudMile supports over 700 corporate clients in business forecasting and industrial transformation. CloudMile has earned 200+ accreditations, with over 60 Google Cloud professional certifications. As a Google Cloud Premier Partner, CloudMile is recognized for its expertise in Security, Machine Learning, Data Analytics, Cloud Migration, Infrastructure, Training and Work Transformation for Enterprise. The company serves as a Google Cloud Managed Service Provider (MSP) in Singapore, Malaysia, Taiwan and Hong Kong, and was recognized as the Public Sector Partner of the Year for the APAC Region in 2020. In 2023, CloudMile was honored as the Google Cloud Sales Partner of the Year for the Greater China region. For more information, visit or follow CloudMile on LinkedIn

UXLINK Raised Over $9M in Funding, Leading Investors include OKX Ventures and Web3Port Foundation


NEW YORK, US – Media OutReach Newswire – 13 March 2024 – UXLINK, a fast-growing Web3 social platform and infrastructure, has recently closed a new round of funding, accumulating over $9 million total investment. This round’s investors include OKX Ventures, Web3Port Foundation, Manifold, UOB Venture, Comma3 Ventures, Cypher Capital, Kucoin Ventures, Gate Labs, Forgame (0484.HK), ECV, Signum Capital, 7UPDAO, and industry leaders. According to Singapore Corporate Information, HongShan Capital, GGV Capital, MatrixPort Ventures and ZhenFund are also its investors. UXLINK’s backers include not only crypto and exchange investors from North America, Asia, and the Middle East, but also strategic investors like publicly listed companies. According to its community, UXLINK may raise another round of funding prior to TGE. As a social ecosystem, UXLINK is a leading solution for aggregating Web3 gateway, social DEX, and infrastructure for mass adoption.

UXLINK Raised Over $9M in Funding, Leading Investors include OKX Ventures and HongShan

Unlike other social infrastructure projects that focus on one-way, following-only relationships, UXLINK is the first to focus on bi-directional, acquaintance-based social relationships, similar to the differences between Twitter vs. Facebook. UXLINK consists mutual-promoting two layers: The application layer mainly includes Social DEX module and UX Growth (Link to Earn) module. The infrastructure layer includes unique and integrating data and the RWS social protocols, with a plan to launch an innovative Social Liquidity Chain, which utilizes OP Stack L2 and EigenDA technologies, to better support developers and third-party Dapps.

UXLINK has caught the attention of the market and investors with its product innovation and rapid growth. Since its product launch in April 2023, it has gained more than 3.5 million verified users in 10 months, with more than 75,000 decentralized groups, covering more than 6 million users. Its users are mainly located in Southeast Asia, the Middle East, Europe, South Asia, and Africa.

“In Web1.0 and Web2.0 era, there are great products based on acquaintance social relationships, such as Facebook and WeChat, being the main drivers and infrastructure for Mass Adoption, benefiting billions of users; UXLINK is this kind of innovation and project in the Web3 era”

Web: https://uxlink.io/
Twitter : https://twitter.com/UXLINKofficial
Telegram : https://t.me/uxlinkofficial2
Odyssey: https://dapp.uxlink.io/quest

Hashtag: #UXLINK

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

UXLINK Raised Over $9M in Funding, Leading Investors include OKX Ventures and UOB Ventures


ABUJA, NIGERIA – Media OutReach Newswire – 13 March 2024 – UXLINK, a fast-growing Web3 social platform and infrastructure, has recently closed a new round of funding, accumulating over $9 million total investment. This round’s investors include OKX Ventures, Web3Port Foundation, Manifold, UOB Venture, Comma3 Ventures, Cypher Capital, Kucoin Ventures, Gate Labs, Forgame (0484.HK), ECV, Signum Capital, 7UPDAO, and industry leaders. According to Singapore Corporate Information, HongShan Capital, GGV Capital, MatrixPort Ventures and ZhenFund are also its investors. UXLINK’s backers include not only crypto and exchange investors from North America, Asia, and the Middle East, but also strategic investors like publicly listed companies. According to its community, UXLINK may raise another round of funding prior to TGE. As a social ecosystem, UXLINK is a leading solution for aggregating Web3 gateway, social DEX, and infrastructure for mass adoption.

UXLINK Raised Over $9M in Funding, Leading Investors include OKX Ventures and HongShan

Unlike other social infrastructure projects that focus on one-way, following-only relationships, UXLINK is the first to focus on bi-directional, acquaintance-based social relationships, similar to the differences between Twitter vs. Facebook. UXLINK consists mutual-promoting two layers: The application layer mainly includes Social DEX module and UX Growth (Link to Earn) module. The infrastructure layer includes unique and integrating data and the RWS social protocols, with a plan to launch an innovative Social Liquidity Chain, which utilizes OP Stack L2 and EigenDA technologies, to better support developers and third-party Dapps.

UXLINK has caught the attention of the market and investors with its product innovation and rapid growth. Since its product launch in April 2023, it has gained more than 3.5 million verified users in 10 months, with more than 75,000 decentralized groups, covering more than 6 million users. Its users are mainly located in Southeast Asia, the Middle East, Europe, South Asia, and Africa.

“In Web1.0 and Web2.0 era, there are great products based on acquaintance social relationships, such as Facebook and WeChat, being the main drivers and infrastructure for Mass Adoption, benefiting billions of users; UXLINK is this kind of innovation and project in the Web3 era”

Web: https://uxlink.io/
Twitter : https://twitter.com/UXLINKofficial
Telegram : https://t.me/uxlinkofficial2
Odyssey: https://dapp.uxlink.io/quest

Hashtag: #UXLINK

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

UXLINK Raised Over $9M in Funding, Leading Investors include OKX Ventures and MatrixPort Ventures


LONDON, UK – Media OutReach Newswire – 13 March 2024 – UXLINK, a fast-growing Web3 social platform and infrastructure, has recently closed a new round of funding, accumulating over $9 million total investment. This round’s investors include OKX Ventures, Web3Port Foundation, Manifold, UOB Venture, Comma3 Ventures, Cypher Capital, Kucoin Ventures, Gate Labs, Forgame (0484.HK), ECV, Signum Capital, 7UPDAO, and industry leaders. According to Singapore Corporate Information, HongShan Capital, GGV Capital, MatrixPort Ventures and ZhenFund are also its investors. UXLINK’s backers include not only crypto and exchange investors from North America, Asia, and the Middle East, but also strategic investors like publicly listed companies. According to its community, UXLINK may raise another round of funding prior to TGE. As a social ecosystem, UXLINK is a leading solution for aggregating Web3 gateway, social DEX, and infrastructure for mass adoption.

UXLINK Raised Over $9M in Funding, Leading Investors include OKX Ventures and HongShan

Unlike other social infrastructure projects that focus on one-way, following-only relationships, UXLINK is the first to focus on bi-directional, acquaintance-based social relationships, similar to the differences between Twitter vs. Facebook. UXLINK consists mutual-promoting two layers: The application layer mainly includes Social DEX module and UX Growth (Link to Earn) module. The infrastructure layer includes unique and integrating data and the RWS social protocols, with a plan to launch an innovative Social Liquidity Chain, which utilizes OP Stack L2 and EigenDA technologies, to better support developers and third-party Dapps.

UXLINK has caught the attention of the market and investors with its product innovation and rapid growth. Since its product launch in April 2023, it has gained more than 3.5 million verified users in 10 months, with more than 75,000 decentralized groups, covering more than 6 million users. Its users are mainly located in Southeast Asia, the Middle East, Europe, South Asia, and Africa.

“In Web1.0 and Web2.0 era, there are great products based on acquaintance social relationships, such as Facebook and WeChat, being the main drivers and infrastructure for Mass Adoption, benefiting billions of users; UXLINK is this kind of innovation and project in the Web3 era”

Web: https://uxlink.io/
Twitter : https://twitter.com/UXLINKofficial
Telegram : https://t.me/uxlinkofficial2
Odyssey: https://dapp.uxlink.io/quest

Hashtag: #UXLINK

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

Philips Releases New Creator Monitors with Exceptional Connectivity and 4K UHD Resolution, Making Them the Perfect Assets for Designing in Detail


SINGAPORE – Media OutReach Newswire – 13 March 2024 – See color and connectivity combined in a different light with these monitors.

Philips Releases the New Philips 27E2F7901 and 27E2F7903 Creator Monitors
Philips Releases the New Philips 27E2F7901 and 27E2F7903 Creator Monitors

The Philips 27E2F7901 and 27E2F7903 monitor will soon be available for purchase this year. Packed with features that are catered to graphic design, these monitors are made for creative professionals. To name a few, features like IPS Black, DisplayHDR 400, UltraClear 4K UHD resolution, and 1.07 billion color gamut all contribute to making the Philips 27E2F7901 and 27E2F7903 design powerhouses.

Built for color
Made with design and creation in mind, these creator monitors are packed with color-focused features that will make designs pop on screen and print accurately off screen. One of the main focuses of the Philips 27E2F7901 and 27E2F7903 is the IPS Black panel and Pro color standards. The IPS Black technology allows blacks to become deeper while various pro color standards aid creatives in making a design that best fits their need. Going further into these two monitors’ Pro color standard options, they are equipped with 100% sRGB, 100% REC 709, and 98% DCI-P3.

In addition to the features mentioned above, all imagery displayed on these two creator monitors is shown in 4K (3840 x 2160) clarity on a 27-inch screen. Not only this, but the Philips 27E2F7901 and 27E2F7903’s image quality is certified with DisplayHDR 400 and Calman Ready.

As a matter of fact, Calman Ready is ideal for color calibration and this new technology allows for screen calibration to be done at a fraction of the time; thereby making a beautiful picture experience on these monitor screens.

State-of-the-art Connectivity
Both the 27E2F7901 and 27E2F7903 feature convenient USB-C connection, but the Philips 27E2F7903 takes connectivity a step further with its Thunderbolt 4 connectivity. This feature supports high-resolution video, offers multi-stream transport for daisy chaining, and can reach up to 96W of power delivery to external devices. Through this advanced connection, creatives are now able to work faster and increase productivity.

Award-Winning Additional Features for the Philips 27E2F7903
Apart from the Philips 27E2F7901 and 27E2F7903’s visual and connective capabilities, creatives can also benefit from other features these monitors offer, such as MultiView, the SmartErgoBase and LowBlue Mode. All these features complete the Philips 27E2F7901 and 27E2F7903’s feature arsenal by providing efficient multitasking capabilities, an ergonomic base, and a screen that guards the eyes from harmful blue light emissions. The Philips 27E2F7903 also has built-in Stereo Speakers for high quality sound for multimedia enjoyment.

Additionally, the Philips 27E2F7903 is part of an award-winning series. Due to its design and geometrically shaped stand, this monitor has won the Red Dot 2021 Award.

Price and Availability
The Philips 27E2F7901 and 27E2F7903 will be available for purchase starting March 2024, and exact availability will vary by country.

Hashtag: #PhilipsMonitors #27E2F7901 #27E2F7903

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

About Philips Monitors

Philips was founded as far back as 1891 in the Netherlands, and has since engaged in more than a century of innovation and entrepreneurship.

Thanks to the company developing timeless business values, Philips has become one of the most highly recognized and trusted brands in the world today. This comes from a tradition of caring about people’s needs, innovating based on ever-changing insights, and working to make a positive change in people’s lives – traditions as meaningful now as they were in the company’s beginnings.

Philips monitors stand for excellent picture quality, and providing innovative solutions to problems people really care about. To reflect this Philips commitment, Philips has created the slogan: ‘Innovation and You’. – See more at

UXLINK Raised Over $9M in Funding, Leading Investors include OKX Ventures and HongShan


TOKYO, JAPAN / SEOUL, SOUTH KOREA – Media OutReach Newswire – 13 March 2024 – UXLINK, a fast-growing Web3 social platform and infrastructure, has recently closed a new round of funding, accumulating over $9 million total investment. This round’s investors include OKX Ventures, Web3Port Foundation, Manifold, UOB Venture, Comma3 Ventures, Cypher Capital, Kucoin Ventures, Gate Labs, Forgame (0484.HK), ECV, Signum Capital, 7UPDAO, and industry leaders. According to Singapore Corporate Information, HongShan Capital, GGV Capital, MatrixPort Ventures and ZhenFund are also its investors. UXLINK’s backers include not only crypto and exchange investors from North America, Asia, and the Middle East, but also strategic investors like publicly listed companies. According to its community, UXLINK may raise another round of funding prior to TGE. As a social ecosystem, UXLINK is a leading solution for aggregating Web3 gateway, social DEX, and infrastructure for mass adoption.

UXLINK Raised Over $9M in Funding, Leading Investors include OKX Ventures and HongShan

Unlike other social infrastructure projects that focus on one-way, following-only relationships, UXLINK is the first to focus on bi-directional, acquaintance-based social relationships, similar to the differences between Twitter vs. Facebook. UXLINK consists mutual-promoting two layers: The application layer mainly includes Social DEX module and UX Growth (Link to Earn) module. The infrastructure layer includes unique and integrating data and the RWS social protocols, with a plan to launch an innovative Social Liquidity Chain, which utilizes OP Stack L2 and EigenDA technologies, to better support developers and third-party Dapps.

UXLINK has caught the attention of the market and investors with its product innovation and rapid growth. Since its product launch in April 2023, it has gained more than 3.5 million verified users in 10 months, with more than 75,000 decentralized groups, covering more than 6 million users. Its users are mainly located in Southeast Asia, the Middle East, Europe, South Asia, and Africa.

“In Web1.0 and Web2.0 era, there are great products based on acquaintance social relationships, such as Facebook and WeChat, being the main drivers and infrastructure for Mass Adoption, benefiting billions of users; UXLINK is this kind of innovation and project in the Web3 era”

Web: https://uxlink.io/
Twitter : https://twitter.com/UXLINKofficial
Telegram : https://t.me/uxlinkofficial2
Odyssey: https://dapp.uxlink.io/quest

Hashtag: #UXLINK

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

An Epic Coca-Cola™ Culinary Collab: F. HERO & Chef Pom Serve ‘Epic Night Out’ in Foodmarks MV

Coca-Cola™ Foodmarks Campaign Delivers a Delicious Mix of Thai Flavour and Music, Starring Chart-Topping Rapper and Celebrity Chef

BANGKOK, THAILAND – Media OutReach Newswire – 13 March 2024 – Level up your next hangout, crew! Coca-Cola™ just dropped Foodmarks in ASEAN & South Pacific, and it is next level. Forget boring food tours – Foodmarks is all about creating a cultural movement that celebrates local flavours and rhythms. For Coca-Cola, it’s all about uncovering hidden gems in YOUR city. Turning legendary food shops that have been cookin’ up magic for generations into epicentres of real magic. Think epic eats, unforgettable nights with your crew, great beats, and the perfect ice-cold bottle of Coca-Cola to fuel it all.

Caption
Watch the interactive music video here.
Watch the music video here.

Thailand Gets Hyped with F.Hero & Chef Pom in “Epic Night Out” MV

Thailand is kicking off Foodmarks with a music video that’ll have you craving all the street food while bopping your head. Titled “Epic Night Out” the video features the legendary Thai rapper F.Hero and the highly-respected, OG foodie boss, Chef Pom.

Originally composed by F. Hero, the song lyrics are peppered with famous street food delicacies and locations where Thailand’s Gen Zs often frequent. Directed by Julien and Quentin from Hamlet, the music video tells the story of two legends meeting for the first time and having an epic night out with Bangkok street food and Ice-Cold Coke. Badmixy, one of the most trending influencers in Thailand and well-known for documenting the latest food and beverage trends in the country, also joins in the fun with a cameo appearance in the film. A trail of Easter Eggs in the film is sure to surprise and excite fans.

TeeJae Sonza, Senior Director, Marketing, Coca-Cola says that the Coca-Cola Foodmarks in Thailand is one example of how Coke embraces the vibrant legacy of street food culture to bring together younger audiences for both small and big moments of connection. According to Sonza, by blending the scene’s culinary attributes as represented by Chef Pom with one of the hottest names in the Thai music scene, F.Hero, Coca-Cola hopes to provide fresh ways for Gen Z trailblazers to bring their tribe together to enjoy and vibe with these often-iconic food destinations.

This dream team, along with F.Hero’s fashion-forward Coke™ Cutlery Crew (it’s a vibe!) in this MV takes you on an exciting ride through Bangkok’s electrifying street food scene. Get ready for drool-worthy close-ups, a catchy #CokeFlip dance move you gotta learn, and even custom Coca-Cola tuk-tuks because why not?

Foodmarks: More Than Just a Bite

The “Epic Night Out” video is just the appetizer for the Coca-Cola Foodmarks experience. There’s more exciting happenings to hit the streets such as Interactive Food Fests where Bangkok’s vibrant street food scene gets an epic audiovisual (AV) takeover this April! Get ready for a mind-blowing sensory experience that’ll leave you hungry for more. Other markets will follow soon so keep your eyes glued for updates in each market.

Sonza further enthuses, “At the heart of the unwavering presence of Coca-Cola in the ASEAN & South Pacific is the celebration of shared meals with family and friends. With Foodmarks, we go beyond the dining table experience to spotlight the vibrant souls of local neighbourhoods and the uncharted culinary treasures nestled within bustling cityscapes. This campaign is an ode to those legendary food shops rich in stories and flavours, offering this new generation of foodies a sensory expedition. It’s about crafting epic food narratives where every sip of Coca-Cola elevates the moment, connecting friends and families with each other, as well as to both heritage and innovation in taste.”

Foodmarks builds upon the legacy of Coca-Cola’s “A Recipe for Magic” campaign, celebrating the power of shared meals and the connections forged around food. It’s about turning your next visit to a local legend into an epic night out, fuelled by good food, good friends, and a refreshing Coca-Cola.

So, grab your squad or crew, crank up the volume, and get ready to embark on a culinary adventure with Coca-Cola Foodmarks!

Hit up Coca-Cola on Facebook (@CocaColaTH), Instagram (@cocacola_th), and on their website (https://www.coca-cola.com/th/th/offerings/foodmarks) for more info and all the Foodmarks updates! Get ready to share your epic eats and food adventures using #CocaColaFoodmarks #Foodmarks #RealMagic #CokeCutleryCrew #EpicNightOut #CokeFoodmarks #RecipeForMagic

Hashtag: #CocaColaFoodmarks #Foodmarks #RealMagic #CokeCutleryCrew #EpicNightOut #CokeFoodmarks #RecipeForMagic

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

About Coca-Cola ASEAN & South Pacific

The Coca-Cola Company (NYSE:KO) is a total beverage company with products sold in more than 200 countries and territories. Coca-Cola in ASEAN & South Pacific (ASP) region serves over 40 well-loved brands across 25 diverse countries in Southeast Asia, Australia, New Zealand, and the Pacific Islands. Delivering on our purpose to ‘Refresh the World and Make a Difference,’ we are constantly transforming our portfolio, and leveraging on technology and innovation across all aspects of our business to create value and drive growth.

From meeting consumer demand with the products we offer, to how we engage technology to engage consumers and sell our products. We also trialling innovative solutions to addressing sustainability challenges, from packaging and water circularity, climate, agriculture and people.

For more information, please visit

Yeebo Announces the Disposal of 20.02% of the Equity Interests of Nantong Jianghai at a Consideration of RMB3,232 Million


HONG KONG SAR – Media OutReach Newswire – 13 March 2024 – Yeebo (International Holdings) Limited (“Yeebo” or the “Company”, stock code: 259, which together with its subsidiaries is referred to as the “Group”) announces that the Group has entered into the Share Purchase Agreement with Zhejiang Construction Investment Group Company Limited (“Zhejiang Construction Investment”), a state-owned enterprise, through its direct wholly-owned subsidiary, Billion Power Investment Limited. The Group agrees to sell 20.02% of the total issued share capital of Nantong Jianghai Capacitor Co., Ltd. (“Nantong Jianghai”) to Zhejiang Construction Investment at a consideration of RMB3,232,470,000, representing a price of RMB19 per share. The sale consideration shall be paid in cash by Zhejiang Construction Investment.

Upon the completion, the Group will continue to own 74,891,000 Nantong Jianghai shares, representing 8.81% of the total issued share capital of Nantong Jianghai, and Nantong Jianghai will cease to be an associate of the Group. Currently, the Group has no intention to dispose of further Nantong Jianghai shares. As of yesterday’s closing price of Nantong Jianghai at RMB18.53 per share, the Group’s stake in Nantong Jianghai is valued at RMB1,388 million.

The Company intends to apply the net proceeds from the disposal to invest into its existing business to improve its operational capabilities, while part of it will be used as general working capital. If appropriate opportunities arise, the Company may consider engaging in strategic business acquisitions. The Company may consider returning the surplus cash to shareholders by way of a declaration of dividends. In addition, a special general meeting will be convened and held by the Company to seek the Shareholders’ approval for the Share Purchase Agreement and the disposal.

Mr. Fang Yan Tak, Douglas, Chairman of Yeebo, said, “In addition to focusing on deepening its core business, Yeebo is also actively exploring investment or acquisition opportunities for market leading companies with high technological advantages, as well as undertaking a strategic review of its businesses and investments. The Group started investing in Nantong Jianghai in 2005. Its business has since grown substantially, and it became an independently listed company in 2010. We consider that the introduction of Zhejiang Construction Investment as a strategic investor into Nantong Jianghai would further enhance its future growth and development. In addition, the disposal would crystalise a gain on its equity investment. It will better position the Company for further development on its businesses and stay the course on its transformation and strategic focus on industries centered on advanced technology-based manufacturing.”

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.