COLOGNE, GERMANY – EQS Newswire – 27 June 2024 – DEUTZ AG (ISIN DE0006305006), based in Cologne (Germany), today signed an agreement through its wholly owned indirect subsidiary DEUTZ Corporation, based in Atlanta (USA), to acquire all of the shares in Blue Star Power Systems, Inc. (‘Blue Star Power Systems’) from Blue Star Power Systems Holdings, Inc. Currently privately run, the company is headquartered in North Mankato, Minnesota (USA), and develops, manufactures, and sells generator sets (gensets) – predominantly diesel and gaseous at present – in the 20 kWe to 2,000 kWe power range in the USA and Canada. Blue Star Power Systems recorded revenue in the high-double-digit millions of US dollars and an EBITDA margin in the low-double-digit percentage range in 2023.

Based on Blue Star Power Systems’ current level of orders on hand and its own market analysis, the DEUTZ Group (‘DEUTZ’) anticipates that the deal will result in additional annual revenue ranging from more than US$ 100 million to (in the medium term) more than US$ 150 million, with an EBITDA margin above DEUTZ’s current margin and a contribution to EBITDA that, on average, is likely be in the low-double-digit millions of US dollars.

To finance the acquisition, DEUTZ is currently examining various funding structures. In the event that the transaction is fully financed from borrowing, the equity ratio is likely to decrease by a low-single-digit percentage amount, thus remaining well above the target figure of more than 40 percent.

Launched by the Company at the start of 2023, the aims of the Dual+ strategy include building up a portfolio that is fit for the future and increasing DEUTZ’s resilience by expanding its product ecosystem. The acquisition of Blue Star Power Systems represents the first step in systematically establishing a new business unit focused on decentralized energy supply. The acquisition will help DEUTZ to significantly accelerate its expansion into the rapidly growing and less cyclical energy market, at the same time increasing the Company’s presence in North America.

Completion of the transaction is subject to the usual conditions, particularly the necessary regulatory approvals, and is expected to take place in the second half of 2024.

Contact

DEUTZ AG / Mark Schneider / Head of Investor Relations, Communications & Marketing
Tel: +49 (0)221 822 3600 / Email: mark.schneider@deutz.com

DEUTZ AG / Svenja Deißler / Senior Manager Investor Relations & ESG
Tel: +49 (0)221 822 2491 / Email: svenja.deissler@deutz.com

Forward-looking statements This ad hoc disclosure may contain certain forward-looking statements based on current assumptions and forecasts made by the DEUTZ management team. Various known and unknown risks, uncertainties, and other factors may lead to material differences between the actual results, the financial position, or the performance of the DEUTZ Group and the estimates and assessments set out here. These factors include those that DEUTZ has described in published reports, which are available at www.deutz.com. The Company does not undertake to update these forward-looking statements or to change them to reflect future events or developments.

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Thailand’s Premier Event Hall Elevates the Nation to World-Class Event Hub, Attracting Global Tourists

• Paragon Hall’s new look embraces the “Extraordinary Eventainment” concept for an unparalleled experience with world-class events and entertainment in the heart of Bangkok.
• Elevating the venue to world-class standards, it serves as Thailand’s first carbon-neutral venue, setting a prototype for social and environmental responsibility with a strong focus on sustainability.
• It is a key driver in transforming ‘Siam Paragon’ into a bona fide global destination.
• In response to the government’s initiative to position Thailand as a ‘world-class event hub’ through co-creation with business partners to attract major international events to the country, this effort aims to establish Thailand as a center of entertainment, thus boosting the economy and tourism industry.

BANGKOK, THAILAND – Media OutReach Newswire – 27 June 2024 – Siam Paragon announces another successful step forward in transforming a global landmark project in the heart of the metropolis. Reinforcing its image as the ultimate global destination, Siam Paragon is elevating “Paragon Hall” with an all-new overhauled look under the concept of “Extraordinary Eventainment,” positioning it as the center of world-class event and entertainment venues in the heart of Bangkok. Additionally, Siam Paragon is joining forces with business partners in the MICE and entertainment industry to pack the second half of 2024 with exclusive events and premier world-class performances.

With the recent transformation, revenue is expected to grow by more than 30% from last year. With 100% of space already reserved, Paragon Hall is poised to help position Thailand as a World-Class Event Hub. It supports a full range of event types, attracting major international events to the country and establishing Thailand as a center of entertainment, thereby driving the economy and tourism industry.

Kritsana Janyasakulwong, Managing Director of Siam Alliance Management Company Limited, a leader in world-class conference and performance center management, stated, “The success of Paragon Hall has over the past 18 years established it as a premier hub for world-class entertainment and events. It is the only venue in Thailand that is both exceptional and trusted by local and international public and private entities, event organizers, artists, and diverse brands. Paragon Hall has built a strong reputation for Thailand by hosting over 2,000 events, generating more than 20,000 million baht in revenue and stimulating the national economy. It consistently delivers ultimate experiences that exceed expectations, creating value for visitors and winning the hearts of organizers with world-class facilities and services. This excellence is recognized and guaranteed by numerous prestigious awards from leading organizations.”

The novel grand-scale concept “Extraordinary Eventainment” offers a remarkable world-class event and entertainment experience.

Transforming Paragon Hall under the concept of “Extraordinary Eventainment” aims to provide visitors with the ultimate world-class event and entertainment experience that exceeds their expectations. Upgraded to accommodate world-class event formats in the heart of the city, it offers a complete, one-of-a-kind MICE experience and entertainment in one convenient location and boasts unique strengths:

• The venue meets world-class standards. Its quality is guaranteed by international awards, and it is the only carbon-neutral venue in Thailand, setting a new benchmark for international event standards. With a strong focus on sustainability, it helps elevate the image of organizing high-quality events across all sectors.
• Supporting all functions for organizing various events, Paragon Hall features an excellent and comprehensive system, including adjustable soundproof partitions tailored to event needs. The venue also boasts tunable white ceiling lights, a smart lighting system that allows for adjustable color temperature and brightness, ranging from dim white to bright. Additionally, the walls of the hall are adorned with strings of lights that can be adjusted to suit the mood and tone of the event, facilitating the creation of various event atmospheres.
• The location in Siam Paragon, a world-class landmark in the heart of Bangkok, holds strong potential. It is one of the most visited destinations by people from all over the world.
• The event venue’s location in the heart of the city strengthens its status as a destination that offers one-of-a-kind all-inclusive luxury experience. The shopping and dining options as well as the attractions perfectly complement the event and entertainment ecosystem in every dimension.
• The team at Paragon Hall possesses extensive knowledge and experience, along with certifications from global MICE business associations and federations. They are ready to deliver ‘premiumized service’ comparable to that of 5-star hotels. Paragon Hall is the trusted partner that supports every customer’s functions and events to ensure the utmost success.

“This refurbishment of Paragon Hall will create an even more exciting phenomenon. It supports the creation of major events in a new, larger scale and format. We will co-create with business partners to organize global events, and we are committed to bringing all their imaginations to life. Therefore, you can be sure that every time you enter the venue, it will be filled with never-before-seen ‘experiences beyond expectations’. Our goal here at Paragon Hall is to create an ‘Extraordinary Eventainment’ experience, which will serve as to attract even more novel experiences and foster sustainable growth for all sectors,” said Kritsana.

Transforming the space towards future excellence and catering to the needs of organizing various types of events, from major world-class events to entertainment and celebratory functions, it is highlighted events that packed throughout the second half of 2024.

The transformation and rebranding of ‘Royal Paragon Hall‘ to ‘Paragon Hall‘ reflects the visionary leader’s commitment to moving towards the future in every dimension. With an exquisite design elevated to international standards, the goal of this overhaul is to cater to the needs of the target demographic, including organizers and visitors from both domestic and international markets, and attract world-class events to Thailand.

The newly refurbished Paragon Hall has an area of over 10,000 square meters, which is covered by a hall larger than 5,100 square meters, and has an excellent and complete system that can facilitate the organization of various event types, ranging from small gatherings with 50 attendees to large gatherings with up to 10,000 attendees. The venue can accommodate a variety of events, including international trade shows, international conferences and seminars, talk shows, national and international entertainment festivals of all kinds, world-class EDM music festivals, fashion events and fashion shows from renowned local and global brands, E-sport tournaments, and more. Moreover, Paragon Hall’s space can be configured to accommodate various events, including weddings and parties of all types.

“Paragon Hall has undergone a complete redesign for a more modern and exquisite aesthetic. We aim to offer everyone a luxury experience that cannot be found elsewhere. Paragon Hall is once again ready to create a phenomenal experience for organizers and visitors alike. Our target is to achieve a 30% increase in the number of events in 2024. is the venue has already been fully reserved for this year,” said Kritsana.

Setting the stage for greatness and epitomizing ‘Extraordinary Eventainment,’ Paragon Hall is changing the paradigm for event organization with a series of spectacular entertainment phenomena, beginning with the highly anticipated BABYMONSTER FAN GREETING, followed by a fan meeting featuring Korean artist TEN NCT, a concert by Korean artist SUHO EXO (the first full solo concert in Thailand), Wonder Festival (a combining traditional art and modern pop culture), Youth World Championship boxing events, weddings of LGBTQ+ couples as a celebration of equality, E-sport game competitions, and a world-class White Party countdown to end the year on a grand scale.

Paragon Hall has been certified to the ASEAN MICE Venue Standard and Thailand MICE Venue Standard by the Thailand Convention and Exhibition Bureau (Public Organization). This certification reflects the venue’s high standards and readiness across all components, including its physical aspects, technology, services, and sustainability. Paragon Hall has won awards for outstanding event venues and is internationally recognized with the Asian Outstanding Venue Award by the Asian Federation of Exhibition and Convention Associations (AFECA). Additionally, it is the first carbon-neutral venue in Thailand, certified for effectively reducing greenhouse gas emissions by the Thailand Greenhouse Gas Management Organization (Public Organization). This commitment to sustainability has elevated its image as an event venue that operates in adherence to the principles of sustainable event development.
Hashtag: #ParagonHall

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• Created the Responsible AI Committee in FY2022/23 and has built a 7-pillar governance framework to evaluate AI innovation across its pocket-to-cloud portfolio.
• Made progress toward and is on-track to meet its 2030 emissions reduction targets, in alignment to the Science Based Targets initiative’s net-zero standard.
• Reported an industry-leading 29% representation of women in technical teams, fueling innovation and its smarter technology for all vision.

HONG KONG SAR – Media OutReach Newswire – 27 June 2024 – Lenovo (HKSE: 992) (ADR: LNVGY) has published its 18th annual Environmental, Social and Governance (ESG) Report, further demonstrating its commitment to being a responsible corporate citizen with a vision to provide smarter technology for all. In this year’s report, the global technology powerhouse shared its progress toward 2030 emissions reduction goals, increased participation in the circular economy, industry-leading representation of women in technical roles ⁴, increased employee volunteerism, and proactive governance of AI as it works to become the leading provider and enabler of smarter AI.

“AI has brought unprecedented opportunities over the last year,” shared Yuanqing Yang, Chairman and CEO of Lenovo. “It is clear that AI will be a major priority and influence in our business for years to come and we recognize our duty to leverage this technology to improve the lives of people around the world while minimizing its impact on the planet.”

Lenovo first announced its smarter AI for all vision at Lenovo Tech World in October 2023. Since then, Lenovo has launched an AI-enabled solution for real-time tracking of its manufacturing emissions, an AI-powered engine to give customers insights on their IT emissions, and numerous social impact initiatives to support communication for people with hearing loss, preserve the voice of an individual suffering from ALS, connect non-profits to trusted resources for AI, and ensure its own AI solutions are reviewed for inclusion and accessibility, among other responsible AI factors.

The proactive governance in place for the quickly emerging AI field underscores Lenovo’s long-standing commitment to governance across its environmental affairs and social impact programs. Lenovo is in the first group of companies to have its near-zero targets validated by the Science Based Targets initiative’s Net-Zero Standard and is on-track to meet the first milestone in its journey to net-zero: near-term 2030 emissions reduction goals. The company has made progress towards its 2030 goals to reduce scope 1 and 2 emissions by 50%, and Scope 3 emissions intensities by 66.5% from purchased goods and services, 35% from sold products, and 25% from upstream transportation and distribution.

Lenovo continues to increase its participation in the circular economy, increasing use of sustainable materials and asset recycling and disposal. Since 2017, Lenovo has grown its reuse and recycling of products by nearly 40%¹ through its product take-back programs². Lenovo has reused or recycled more than 94,000 metric tons of products¹ through PELM programs² – Since 2020 – the same weight as 87 million ThinkPads³.

In addition to environmental impact, Lenovo is working to increase diversity, inclusion, and access to technology internally and externally. Lenovo has reported 29% representation of women in technical roles in this year’s report, leading the industry in women’s representation on technical teams⁴. Lenovo continues its pursuit of increasing diversity in its executive ranks, working to reach 27% women representation around the world and 35% representation of historically excluded talent in the U.S. by FY2025/26. With customers in 180 markets around the world, diversity has always been core to Lenovo’s business success “Workforce diversity not only supports stronger solutions to problems, but it helps us better meet the needs of our diverse, global customer base,” shared Laura Quatela, Senior Vice President and Chief Legal and Corporate Responsibility Officer for Lenovo.

Lenovo is focused on sharing its smarter technology with the community and reported USD $21M in philanthropic impact around the world. Lenovo’s global employee base is core to this mission, with employee volunteerism increasing by 40% during the annual Love on Month of Service in 2023. Lenovo’s philanthropic work underscores the company’s smarter technology for all vision and smarter AI for all focus through initiatives like the AI for Social Impact webinar series, Ashoka changemakers partnership, and partnerships localized to meet the needs of communities around the world.

Lenovo’s ESG experts align its corporate strategy to various frameworks and standards, and is honored to be recognized by leading ratings, rankings, and indices throughout the year.

• In FY2023/24, Lenovo committed to the United Nations Global Compact’s Forward Faster Initiative, aligning to goals focused on climate action and water resilience.
• Lenovo maintained its AAA status on MSCI’s ranking and was awarded the stronger score in the IT industry for environmental and social achievements in the Hang Seng Corporate Sustainability Index, receiving an AA score overall.
• 2023 was the eleventh year that Lenovo was recognized by Hong Kong Institute of Certified Public Accountants’ Most Sustainable Companies and Organizations section of the Best Corporate Governance and ESG Awards, receiving a Gold Award.
• Lenovo was also honored to be named as a best place to work for disability inclusion by Disability:IN, maintained its placement on the Human Rights Campaign’s Corporate Equality Index for LGBTQ+ Inclusion, and received the highest score to date for Workplace Prides’ Global Benchmark Score.
• These recognitions were further underscored by Lenovo being ranked #10 on Gartner’s Top 25 Global Supply Chains ranking, receiving the Sustainability Champion Award for 2023 by Canalys, and being named one of Fortune Magazine’s Most Admired Companies.

More resources:

• Learn Lenovo’s commitment and progress toward its sustainability goals on YouTube
• Explore Lenovo’s global impact on the interactive ESG Map
• Read more about Lenovo’s Environmental, Social and Governance performance in the FY2023/24 ESG Report

¹ Based on CY 2022 product recycling data: https://www.lenovo.com/us/en/sustainability-product-recycling/
² Consumer and commercial take-back programs
³ Based on total weight of ThinkPad X1 Carbon Gen 12 at 1.09kgs/2.42 lbs: https://www.lenovo.com/us/en/p/laptops/thinkpad/thinkpadx1/thinkpad-x1-carbon-gen-12-(14-inch-intel)/len101t0083
⁴ Based on published data from competitors and peers
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About Lenovo

Lenovo is a US$57 billion revenue global technology powerhouse, ranked #217 in the Fortune Global 500, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world’s largest PC company with a pocket-to cloud portfolio of AI-enabled, AI-ready, and AI-optimized devices (PCs, workstations, smartphones, tablets), infrastructure (server, storage, edge, high performance computing and software defined infrastructure), software, solutions, and services. Lenovo’s continued investment in world-changing innovation is building a more equitable, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992) (ADR: LNVGY). To find out more visit https://www.lenovo.com, and read about the latest news via our StoryHub.

Hashtag: #Contracting #RobertWaltersHongKong #HongKongHiringMarket #HiringTrends #GBAtalent #GenZtalent

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Robert Walters Hong Kong

HONG KONG SAR – Media OutReach Newswire – 27 June 2024 – This MSME Day, Tradewind Finance, a global trade finance provider, is celebrating the thousands of SME customers it has served over the years with reliable capital to grow and thrive.

Dubbed the “backbone” of economies, micro, small and medium-sized enterprises (MSMEs) make up 90% of businesses globally and account for over 70% of jobs worldwide, according to the United Nations website. They’re critical to achieving the United Nation’s 2030 Agenda for Sustainable Development Goals, including decent work for all.

By partnering with SMEs, Tradewind has also contributed to this set of SDGs. Apart from Decent Work and Economic Growth (SDG 8), Tradewind’s activities and their development effects in emerging markets have also made a positive impact on the following: Zero Hunger; Industry, innovation and infrastructure; and Partnership of the Goals.

Despite their critical role in the world, MSMEs, especially those in developing countries, still face challenges accessing the financing they need for day-to-day operations and successful growth.

As per the Asian Development Bank, there is an estimated $2.5 trillion trade finance gap, which signifies the difference between requests and approvals for financing to support imports and exports. This unmet demand denies businesses the working capital and trade support required to achieve their full potential. Tradewind is closing this gap by providing their customers with flexible, tailor-made financial solutions that deliver quick access to capital and reduce the risk of non-payment from buyers.

Most of Tradewind’s customers are small and medium-sized businesses. The firm’s funding is based on their customers’ buyers’ creditworthiness, rather the customer’s own financials, which they might still be developing and strengthening. The company’s flexible approach to financing enables SMEs to receive the funding they require and deserve.

Today, the team at Tradewind would like to take the opportunity to thank their SME customers spread in most of the markets across the globe. Through on-site visits to the facilities of their clients and close collaboration with them, the team recognizes the significance of the products and services made by small and mid-sized manufacturers, traders, exporters, importers, processes and others that have changed and shaped the world.

To know more about how Tradewind has partnered with SMEs worldwide to help optimize their cash flow reduce their trade risk, read the company’s mission: https://www.tradewindfinance.com/our-mission/

Hashtag: #Tradewind #tradefinance #finance #exportfactoring #financing #invoicediscounting #invoicefinancing

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About Tradewind Finance

Founded in 2000, Tradewind Finance maintains a network of offices all over the world, including Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, India, Pakistan, Peru, Turkey, UAE, and the USA as well as the headquarters in Germany. Combining financing, credit protection, and collections into a single package of trade finance products, Tradewind brings streamlined, flexible, and best-in-class services to the world’s exporters and importers.

HONG KONG SAR – Media OutReach Newswire – 27 June 2024 – Artificial intelligence (AI) is already being widely adopted in companies’ financial reporting processes, with a majority of businesses piloting or using it, and this is set to grow to almost universal levels over the next three years, according to a global research from KPMG. At the same time, companies expect AI to be increasingly used by their auditors to drive more proactive and predictive audits.

KPMG’s research titled AI in financial reporting and audit: Navigating the new era, surveyed 1,800 companies across six industries in ten major markets to understand how financial reporting executives feel AI adoption is progressing within the finance function, its impact on internal finance teams, and expectations for external auditors.

Alan Yau, Audit Innovation Leader, Partner, KPMG China, says: “The adoption of AI in financial reporting is gaining significant momentum in Greater China, with the use universally applicable to both auditors and clients, leading to greater productivity for financial reporting teams and enhancing talent acquisition and skills development.”

Among regions, companies in North America are moving at the fastest pace with 39% of companies in the region selectively or widely adopting AI for financial reporting, followed by Europe (32%) and Asia Pacific (29%).

In terms of sectors, telecoms and technology businesses have made the most progress, with 41% responding that they are now selectively or widely adopting AI within their financial reporting processes, followed by energy, natural resources and chemicals (35%). Consumer products and retail businesses, however, trail other industries (26%).

Companies are investing strategically and substantively in AI. According to the research, AI now accounts for 10% of the IT budget and is set to rise significantly. All surveyed companies said their Boards have taken strategic action regarding AI.

Nearly two-thirds of respondents (64%) say they expect auditors to have the role of conducting a more detailed review of the control environment in relation to their use of AI in financial reporting. Over half (53%) foresee auditors carrying out an AI governance maturity assessment, while a third expect to ask them to provide third-party attestation over the use of AI technology. However, this is an area where regulation needs to move and maintain pace with the rapid pace of development of use of AI in financial reporting and in auditing.

Generative AI, as a relative technology newcomer, fewer organizations are piloting or using it now (43%) compared to ‘traditional’ AI – but adoption is set to accelerate significantly over the coming three years. Indeed, over the next 12 months leaders are set to prioritize genAI for financial reporting more than any other technology. Almost half (47%) will prioritize it, ahead of data & analytics (44%), process mining (39%) and cloud (36%).

Alan Yau added: “Looking ahead, businesses in Greater China are increasingly recognizing the immense potential of generative AI. In the realm of financial reporting, AI emerges as a formidable tool that not only enhances decision-making with insightful data analysis but also complements human expertise with its speed and precision. By automating routine tasks, AI enables financial professionals to devote more time to strategic planning and fostering client relationships. This symbiotic relationship between AI and human professionals is revolutionizing financial reporting, elevating service standards, and delivering unparalleled value to companies and their stakeholders.”

Businesses are very cognizant of the risks of AI, with data security, privacy and ethical issues the top concerns. In general, there are currently more concerns over genAI than traditional AI, including cybersecurity issues and copyright & IP alongside other areas such as privacy and hallucinations. Managing the risks and taking an ethical approach to AI implementation is critically important.

Hashtag: #KPMG

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About KPMG China

KPMG China has offices located in 31 cities with over 14,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located.

KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.

KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. KPMG was also the first among the Big Four in the Chinese Mainland to convert from a joint venture to a special general partnership, as of 1 August 2012. Additionally, the Hong Kong firm can trace its origins to 1945. This early commitment to this market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in KPMG’s appointment for multidisciplinary services (including audit, tax and advisory) by some of China’s most prestigious companies.