New Vreneli coin defines a new class of investment by fusing physical and digital value
St. Gallen, Switzerland – Newsaktuell – 30 March 2023 – A collaborative innovation, that could draw the attention of investors, tech freaks and art collectors, is Made in Switzerland and combines the traditional and the modern in a new edition of the popular Gold Vreneli coin. The new Crypto Vreneli bears an NFC chip. On reading out using an app on a mobile phone, the user will be referred to a digital financial asset in a blockchain that cannot be altered and is not interchangeable. The new gold coin represents the fusion of two investment classes: the physical and the digital.
The Crypto Vreneli is the world’s first Phygital Asset Coin, abbreviated PAC. Two formerly separate investment values – the physical and the digital – have been combined into a completely new investment class. The unique nature of each Crypto Vreneli is shown in a pixel art graphic showing the classic Vreneli motif in multiple variations.. The principle of a so-called Non-Fungible Token (NFT) that is well-known in the crypto world is used here.
The unique nature of each individual Crypto Vreneli is shown in a pixel art graphic showing the classic Vreneli motif in multiple variations. A play on identities. Owners of the new Crypto Vreneli will benefit from added value through a so-called “Unlockable Content”.The Crypto Vreneli uses the principle of a so-called Non-Fungible Token (NFT) that is well-known in the crypto world. But, as physical value is being combined with digital value, it is “phygital” and represents a pioneering innovation in the investment classes known to date.
A collaborative innovation Made in Switzerland: Christian Brenner, CEO of philoro Switzerland AG and Sarah Schlagenhauf, ArtDeal AG / Vivents CEO and Founder, have created the Crypto Vreneli in close cooperation and placed it on the market in Switzerland, Germany and Austria.
Word’s first “Phygital Asset Coin”
“The Crypto Vreneli is the world’s first Phygital Asset Coin, abbreviated PAC. So, the first hybrid value coin and a pioneering project for gold investors and collectors who would like to get one step ahead of conventional NFTs. The next evolutionary step: The fusion of two investment classes!” Christian Brenner, publisher of the Crypto Vreneli and CEO of gold trader philoro. Vivents by ArtDeal AG will be responsible for the creation, the design, as well as the technical implementation and the Web 3.0 placement.
Phygital is a conceptual fusion of the English adjectives physical and digital. “Phygital must not only be seen as one of the most significant buzzwords of the digital transformation, but also describes an attitude to life by means of which metaverse target groups would currently like to be addressed in innovative, complex consumer galaxies,” Vivents by ArtDeal AG founder and CEO Sarah Schlagenhauf believes.
The first limited edition of the Crypto Vreneli will launch with 100 coins available from 31 March 2023 in philoro’s online shops with delivery in Switzerland, Austria and Germany, as well as in philoro’s bricks and mortar outlets in Switzerland. Each coin is made of 31.1 grams of pure gold (one ounce). Entry value is 7,999 Swiss francs.
Digital Vreneli plays with identities
The NFT of the Crypto Vreneli is coupled with the gold coin in an Ethereum wallet (digital wallet). By scanning the NFC chip using the phone app, the owner unlocks their individual Crypto Vreneli in the blockchain. The digital Vreneli visualised in this way is unique for each coin. The artwork derived from the style of the famous CryptoPunks characters. The shifts in the classical Vreneli motif reveal a societal phenomenon – that the question “Who, or what am I?” is given a fluid answer in broad segments of society. Definitions are old hat. The Crypto Vreneli mirrors this freedom and the interplay of fluid identities in society.
Net profit for the year is approximately HK$28.1 million, representing an increase of approximately 122.8%.
Revenue increased 2.7% to approximately HK$819.3 million.
Gross profit increased 11.5% to approximately HK$114.0 million.
As at 31 December 2022, the Group had a total of 46 fitting-out projects on hand, with an aggregate total contract sum of approximately HK$3,822 million.
Integration of technologies and technical solutions with big data into home design and fitting-out projects to create a one-stop home furnishings solution for the purpose of cost savings and efficiency improvement.
Financial Highlights
Year ended 31 December
HK$’000
2022
2021
Change
Revenue
819,302
798,108
+2.7%
Gross profit
114,023
102,298
+11.5%
Gross Profit Margin
13.9%
12.8%
+1.1 p.p.
Profit for the year attributable to owners of the Company
28,065
12,597
+122.8%
Adjusted profit for the year attributable to owners of the Company*
15,887
12,033
+32.0%
Earnings per share
3.51
1.57
+123.6%
*Excluding the exceptional item under the period of COVID-19, i.e., the subsidy granted under the Employment Support Scheme
HONG KONG SAR – Media OutReach – 30 March 2023 – As a leading fitting-out contractor in Hong Kong, Superland Group Holdings Limited (“Superland” or the “Company”, together with its subsidiaries, the “Group”; Stock Code: 0368.HK), announced its annual result ended 31 December 2022 (“Financial Year”). During the year, the Group recorded an increase in both revenue and profit. Profit for the year attributable to owners of the Company is approximately HK$28.0 million, representing a YoY growth of approximately 122.8%. The revenue of the Group remained relatively stable at approximately HK$819.3 million, representing an increase of 2.7% compared with last year. Gross profit increased 11.5% to approximately HK$114.0 million. During the year, basic earnings per share is HK$3.51.
Business Review
The Group is an established contractor based in Hong Kong, providing professional fitting-out services and repair and maintenance services with the qualification as a registered electrical contractor, subcontractor and minor work contractors.
The Group’s technologies and technical solutions, including but not limited to, virtual reality technology, digital design services and three-dimensional laser scanning, were successfully launched in the market. The realisation of opportunities arising from these technologies and technical solutions will add value to the Group and diversify the business of the Group in the future.
The Group is principally engaged in the provision of fitting-out services and repair and maintenance services for residential and commercial properties in Hong Kong. During the year, fitting-out services is accounted for approximately 98.9% of the total revenue, representing approximately HK$810.1 million. In comparison, repair and maintenance services are HK$9.2 million, representing 1.1% of the total revenue.
As at 31 December 2022, the Group had a total of 46 fitting-out projects on hand, which included fitting-out projects that have commenced but not yet completed and fitting-out projects that have been awarded to the Group but not yet commenced, with an aggregate total contract sum of approximately HK$3,822 million. Among these projects on hand, 28 projects were with total contract sum of approximately HK$50 million or above. The aggregate total contract sum of these 28 projects amounted to approximately HK$3,451 million (31 December 2021: 25 projects: approximately HK$2,865 million).
Business Prospect
The economy of Hong Kong in 2022 was dampened by the severe fifth wave of the COVID-19 outbreak starting in late 2021 and further by the deteriorated external environment and tightened financial conditions, including but not limited to the increase in interest rates and supply chain bottlenecks. In spite of the removal of strict COVID-19 restrictions in Hong Kong recently, the Group still expects to encounter great challenges in the short term. However, as supported by the 2022 policy address of Hong Kong, the Government of the HKSAR will develop land resources in a persistent manner to satisfy the housing demand. Therefore, the Group expects that the business of the Group will remain stable in the fitting-out industry in Hong Kong in the long term. The Group will devote necessary resources to further increase its market share if appropriate.
The Group’s integration of technologies and technical solutions with big data into home design and fitting-out projects was successfully delivered to the market. The Group would be determined and committed to create a one-stop home furnishings solution to serve the industry for the purpose of cost savings and efficiency improvement. The Group will assess any opportunities arising from the application of the technologies and technical solutions with big data so as to deliver better services to our customers.
Looking ahead, the Group remains prudent and optimistic about the prospects of the Group’s business in the long term. The Group will consider closely monitoring its working capital management, as well as cautiously examine the latest developments in its core business. The Group will adjust its business strategies as needed to ensure corporate sustainability.
Mr. Ng Chi Chiu, Chairman of the Group, CEO and Executive Director, said, “The Group has always utilized technology to enhance the quality of our fitting-out services. In recent years, we have made significant breakthroughs in time management, quality control, and cost-effectiveness by leveraging technology. We aspire to integrate big data technology into our home design and fitting-out projects, providing people with the convenience of a technology-driven lifestyle.”
Hashtag: #Superland
The issuer is solely responsible for the content of this announcement.
About the Superland Group Holdings Limited
Superland Group Holdings Limited is an established contractor based in Hong Kong with over 18 years of operating history providing fitting-out services and repair and maintenance services. It has provided services for a number of prominent property projects of established property developers in Hong Kong, including various landmark shopping malls, hotels and residential projects around Hong Kong. The Group has recently launched “Oodles”, its own technological brand. Oodles provides a fitting-out service platform that integrates its own developed technologies and technological solutions and combines design, matching, shopping and information to allow customers to experience and foretell the home of the future.
HONG KONG SAR – Media OutReach – 30 March 2023 – LET Group Holdings Limited (“LET”, the “Group” or “Company”) (Hong Kong Stock Exchange code: 1383) today reported financial data for the year ended 2022. All amounts are expressed in Hong Kong dollars unless otherwise stated. For details of the annual 2022 financial results, please refer to the announcement published on the Hong Kong Stock Exchange.
FY2022 ANNUAL RESULTS HIGHLIGHTS
Group FY2022 Results: Asset Restructuring in Place; Focus on Westside City Project Development
FY2022 Group Total Revenue of HK$394.3 million, up 34% YoY
FY2022 Group Consolidated Adjusted EBITDA from continuing operations of HK$77.5 million, versus approximately negative HK$(13.3) million in FY2021
FY2022 Loss for the year Attributable to Equity Holders of the Company of HK$(138.4) million, versus a Loss Attributable to Equity Holders of the Company of HK$(258.3) million in FY2021
Through the Group’s subsidiary Suntrust, the Group will focus on the development Westside City Project as our top priority
Development Updates
Philippines: Westside City Project construction works going ahead at full steam in Manila. Podium level construction is completed; Efforts are now pivoted to building the hotel tower upwards. Soft opening targeted to launch before the end of 2024. Grand opening to be in 2025.
Russia: Given recent geopolitical tensions in Russia, the development of Phase II Tigre de Cristal is inevitably slowed down as a prudent business decision
A LETTER FROM THE CHAIRMAN
Dear valued shareholders and stakeholders,
I would like to express my sincere appreciation for your unwavering support of LET Group. As we navigate the complexities and opportunities of today’s market, our Group is currently undergoing asset restructuring. Through restructuring our assets with the highest and best use principle in mind, we will concentrate our resources IN the Philippines gaming market, specifically on the development of the Westside City project. We firmly believe that this project is the cornerstone of our future success, as we strive to seize new growth opportunities in the Philippine integrated resort market.
On the financing side, the project is going to secure a loan from a local financial institution through LET Group’s subsidiary, Suntrust Resort Holdings, Inc., that provides the necessary capital to deliver a world-class integrated resort experience unparalleled in the region.A local bank’s approval of the project, based on its familiarity with the local business environment, can be regarded as a vote of confidence that bolsters investor sentiment. This serves as a recognition for Westside City Project, as well as for the Group’s managerial expertise and operational capabilities. Such resounding validation by the local industry is an indicator of the Project’s promising prospects. By partnering with a preeminent local conglomerate, we can navigate the local landscape with care and cultural competence while bringing LET Group’s unrivalled expertise in Asia gaming to the table.
Relative to more mature gaming markets in Asia, the Philippines presents significant potential for the growth of a novel destination for integrated resorts. Local Filipinos and expatriate patrons contribute more than a third of the Philippines’ gross gaming revenue. On top of that, the country’s proximity to major economies with a high propensity for spending including Japan, South Korea, and countries in Southeast Asia offers a competitive advantage to regional customers with considerable disposable income to spend. As the Asian middle class expands rapidly, demand for premium travel, leisure, and entertainment experiences is at an all-time high. It is our goal to capture a share of this burgeoning demand with a world-class integrated resort destination in the Philippines. By providing unparalleled quality, a range of amenities, and superior services, we aim to establish LET Group as the premier choice for Asia’s patrons.
Westside City Project is our large-scale flagship development that will introduce a unique and unequalled mix of hospitality, gastronomy, retail, and gaming to Manila’s Entertainment City. This project represents our most significant growth opportunity, underpinned by a compelling investment case — especially in light of challenges encountered at our other integrated resort in Vietnam. In contrast, the Philippines permits local Filipinos to frequent integrated resorts, conferring a degree of stability and resilience, which is why developing the mass market segment will be a key component of the Westside City Project. This effect has been evidenced at our Tigre de Cristal integrated resort in Russia. While we plan for the project’s entertainment facilities and amenities, we emphasize the preferences of the mass market segment, aiming to position Westside City Project to become a leading iconic integrated resort in South East Asia that tailors to the tastes of the mass market. Westside City Project is exceptionally positioned to deliver strong and stable financial outcomes across our portfolio of integrated resorts in the future.
I would also like to reassure shareholders that the decision to slow down the development at Tigre de Cristal Phase II was a prudent business decision reached after careful consideration and analysis. The current commercial climate in Russia poses difficulties in guaranteeing a consistent return on investment to our parent company listed in Hong Kong. Our focus remains centred on identifying and capturing unique growth opportunities, and I am confident that the Philippine integrated resort market holds considerable promise for LET Group’s future.
I recognise that investing in a company requires significant financial and time commitment to realise returns. Nonetheless, I ask that you place your faith in our vision and join us on this exciting journey. With formidable gaming sector expertise, a gifted leadership and employee base, and compelling avenues for growth, LET Group stands ready to embark on a new chapter of success in Asian gaming with the opening of the Westside City Project soon.
Thank you for your enduring partnership and support.
Sincerely,
Mr. Lo Kai Bong
Chairman LET Group Holdings Limited
Market Overview
Russia
According to the International Monetary Fund (IMF), the World Bank and the Organization for Economic Cooperation and Development (OECD), Russia’s Gross Domestic Product (GDP) contracted by an estimated 3.4% to 4.5%[1] in 2022. Despite the contraction, the country’s economy performed better than initially expected due to the strong fiscal response and the increase in energy prices[2]. Meanwhile, the tourism industry was experiencing a recovery, with only approximately 73,000[3] visitors to Primorsky Krai for the full year of 2022. However, the long-term impact of the Western sanctions resulting from the Russia-Ukraine conflict remained a concern for the country’s economy and its tourism industry.
The Philippines
The Philippine economy continued to grow in 2022, with a 7.7% increase in GDP, reaching PHP19.9 trillion[4](approximately US$363.4 billion). The entertainment industry, particularly the integrated resorts in Manila, continued to benefit from local demand. According to the Philippine Amusement and Gaming Corporation (PAGCOR), The Gross Gaming Revenue (“GGR”) from licensed casinos in the country grew by 91% year-on-year to PHP214.3 billion (approximately US$3.9 billion) at the end of 2022[5]. In particular, Entertainment City casinos accounted for 87% of the Total Licensed Casino GGR in 2022, and has recovered to 93% of the level of GGR compared to 2019. In 2022, 2.65 million visitors arrived the Philippines, translating to PHP209.0 billion (approximately US$3.7 billion) in tourism revenue for the country, a significant increase from 2021 as borders were closed back then[6]. The majority of tourists arrived from the United States, South Korea, Australia, Canada and the United Kingdom in 2022.
Vietnam
Vietnam’s economy grew by 8.02%[7] in 2022, the highest rate recorded in the 2011-2022 period[8]. The increase is three times the growth in 2021 and exceeded the target of 6-6.5% set by the Government. The country’s tourism industry also continued to recover, with a total of 3.6 million foreign arrivals[9] for the full year of 2022, 23 times to that of 2021 yet this still only reflected approximately 20% of the total number of arrivals in 2019. 70% of foreign tourists are from Asia while the rest are from Europe and the US[10].
Development Update
Westside City Project, Philippines
The construction of the exterior of the podium which would hold the future gaming facilities has now been completed. The focus of the construction team is to continue building upward. The soft opening is targeted towards the end of 2024, with the grand opening aimed at 2025.
When all phases of the Westside City Project are ready, it will consist of:
Approximately 300 tables
Over 1,300 electronic gaming machines
Over 450 five-star hotel rooms including state-of-the-art party rooms and suites
All sorts of amenities that fit our LET theme Leisure, Entertainment and Taste, including the privileged LET Club, Cigar and Wine bars, night clubs, Wellness Spa, and a Director’s Club
Approximately 1,000 car park spaces
Westside City Project will be integrated with the shopping malls, theatres, restaurants, and shopping streets, etc. to be built by our local partner Westside/Travellers. They will also build additional hotel rooms, a shopping mall, a Grand Opera House, restaurants, a theatre district and an additional of approximately 2,000 car park spaces.
Figure 1 Construction progress at Westside City Project in March 2023
Tigre de Cristal, Russia
Due to the unpredictable and volatile geopolitical tensions, the Company has made the difficult decision to slow down the development of Phase II Tigre de Cristal. We are now taking a conservative approach to investing in Russia.
The Company has been exploring alternative opportunities in other regions, as well as potentially looking for strategic partners who might be able to bring value in terms of operating the gaming and hotel business in Far East Russia.
Hoiana, Vietnam
In Hoiana, Hoiana Phase I including Hoiana Shores Golf Club, the casino, Hoiana Hotel & Suites and New World Hoiana Hotel are now operational.
Outlook
2022 has proven itself to be a year of both promise and peril for the Group. While the gradual easing of travel restrictions and recovering consumer sentiment bode well for the Group’s integrated resorts in Vietnam and the Philippines, geopolitical tensions and the ongoing public health crisis introduced a measure of uncertainty. However, despite formidable challenges, the Group has emerged resilient with a reinvigorated brand and a diverse portfolio of integrated resorts across Asia, affording us the ability to deliver maximum value to shareholders when difficult times turn its head away.
As a publicly listed company in Hong Kong with operations spanning across the Philippines, Vietnam, and Russia, the Group is well-positioned to mitigate risks through geographic diversification and has harnessed extensive expertise in integrated resort development. In comparison to other established Asian gaming markets, the Philippines gaming market represents a substantial potential for growth as an innovative luxury destination. With a considerable portion of GGR contributed by local and expatriate patrons, and its proximity to major regional economies with high disposable income, the Philippines offers a compelling value proposition in the growth of Asian gaming. As the Asian middle class grows at an incredible pace, demand for world-class integrated travel, leisure, and entertainment experiences has reached unprecedented heights.
In Suntrust Resorts Holdings, Inc., our Philippines team is actively recruiting seasoned gaming executives on the ground to bring this vision to fruition. Since the completion of the construction of the podium level where the main gaming halls will be located, efforts have pivoted to the construction of the hotel tower, with plans to launch a soft opening before the end of 2024 and a grand opening in 2025. By providing the finest quality, a range of lifestyle amenities, and exceptional services, the Group aims to cement its position as the preferred choice for regional gaming patrons. With the support of a local financial institution, the Group will obtain the necessary capital to execute this strategy. Through the partnership with a leading local conglomerate, the Group is set to deliver a unique blend of cultural sensitivity and Asian gaming prowess navigating through the business environment in the Philippines while offering an unmatched experience for regional patrons.
In Vietnam, Hoiana has seen a spike in business volumes and occupancy rates ever since its soft opening in mid-2020, breaking successive records month after month. As an integrated five-star resort offering a blend of a luxury beachside resort and an authentic Vietnamese cultural experience, Hoiana’s unique value proposition serves as a magnet for foreign tourists and mass market gaming patrons alike. Although record performance is a notable achievement, its foreigner-only admission policy to the gaming floor currently acts as its key impediment to growth, with visitation hinging on the status of regional travel restrictions. However, as constraints ease and visitation regains momentum, we are confident that Hoiana will cement its stature as Vietnam’s premier hospitality destination.
In Russia, Tigre de Cristal has seen a resurgence in the local mass gaming business and slots business in 2022, achieving company records since its first opening despite multiple challenges in the operating environment. By procuring supplies locally and expanding into new markets such as Japan and South Korea, Tigre de Cristal is gradually adapting to persistent geopolitical tensions. However, due to the unpredictable business climate, the Group has adopted a cautious investment approach and has decided that inevitably, the development of Tigre de Cristal Phase II will be slowed down as a prudent business decision.
In summary, while we regard the future with prudent optimism, our primary focus remains at the Philippines integrated resort. With a dedicated team and the necessary funding ready to be deployed, we are confident in delivering a world-class experience and capturing the market’s unique opportunities. We remain committed to our vision and will overcome challenges that may emerge.
The issuer is solely responsible for the content of this announcement.
About LET Group Holdings Limited (HKEx stock code: 1383)
LET Group Holdings Limited (“LET Group” or “the Group”) develops and operates integrated resorts across Asia, including the Russian Federation, the Philippines and Vietnam. The Group also operates in the mall operation segment.
LET Group is the parent company of Summit Ascent Holdings Limited (“Summit Ascent”, HKEx: 102). Summit Ascent is the operator of the largest integrated resort, in the Russian Federation, known as Tigre de Cristal, based in Vladivostok in the Far East. LET Group is also the parent company of Suntrust Resort Holdings, Inc. (“Suntrust”, PSE: SUN), which is developing Westside City Project in the heart of Entertainment City in Manila, the Philippines. Hoiana is an integrated resort that LET Group jointly develops with our investment partners. Located in Central Vietnam, Hoiana Phase 1 is an integrated resort with over 1,000 rooms, an award-winning golf course and pristine beaches.
In addition, the Group operates a shopping mall in China.
Cyberport rebrands and expands former Internet Economy Summit to focus on fostering a smarter future through digitalisation
HONG KONG SAR – Media OutReach – 30 March 2023 – Asia’s flagship innovation and technology (I&T) event is relaunching as Digital Economy Summit (DES) 2023 and returning to Hong Kong on April 13-14, 2023. Jointly organised by the HKSAR Government and Cyberport, DES 2023 will bring together leaders from technology, business, academia, and government sectors to envision how smart city technologies can supercharge economic growth at global and regional levels and accelerate the formation of resilient and futureproof digital societies.
Mr Peter Yan, Chief Executive Officer of Cyberport (first left); Mr Tony Wong, Acting Government Chief Information Officer (centre), and Mr Ian Chan, Chief Corporate Development Officer of Cyberport (first right), share insights ahead of the Digital Economy Summit. The Summit will bring together leaders from technology, business, academia, and government sectors to envision how smart city technologies can supercharge economic growth at global and regional levels and accelerate the formation of resilient and futureproof digital societies.
Formerly known as the Internet Economy Summit, DES 2023 is inspired by the theme “Emerging with Resilience: Fostering a Smarter Future”, at which more than 100 renowned international speakers will share their insights in keynote presentations and panel discussions in eight thematic forums. More than 4,000 industry decision makers, entrepreneurs and investors from 40 countries and regions are expected to attend DES 2023, which will be held for the first time as a hybrid in-person and online event. Mr John Lee, the Chief Executive; Mr Paul Chan, Financial Secretary; and Professor Sun Dong, Secretary for Innovation, Technology and Industry, are among HKSAR Government Officials set to address the audience at the two-day event.
The Acting Government Chief Information Officer, Mr Tony Wong, said, “With the unwavering support from the Central Government, Hong Kong has resumed full normalcy and the revival of the DES is a strong testament of Hong Kong’s return to centre stage. Digitalisation is the mainstream engine for high-quality socioeconomic development and the contribution of innovation and technology (I&T) is indispensable. I am very much looking forward to the insights and significant inspiration to the development of Hong Kong’s digital economy that will be shared by the Summit’s stellar line-up of technology pioneers and business leaders.”
Chief Executive Officer of Cyberport, Mr Peter Yan, said, “Global challenges in recent years have spurred technology development and adoption in different areas like, AI, Smart City, and many more, generating unprecedented opportunities in Digital Economy. The Government has also made provision of HKD$500 million in the recent Budget announcement to launch a Digital Transformation Support Pilot Programme to assist small and medium enterprises to adopt digital solutions. We believe smart applications of I&T induce digital transformation and reinvigorate enterprises and economies, culminating in a smarter future for all. The Government and Cyberport’s annual flagship event DES is the place to see all these happening and reinforces Hong Kong’s role as an international I&T centre connecting the world to tremendous opportunities in the booming Greater Bay Area.”
DES 2023 will be showcasing an impressive line-up of industry heavyweights. Attendees will have ample opportunity to spark new connections and find new ways to stay ahead of disruption and future-proof their businesses.
Highlights from the eight thematic forums include:
The pandemic supercharged the rise of smart city innovations. Global tech giants and prominent industry experts will exchange insights on how the exponential growth of metaverse, artificial intelligence (AI), 5G and smart city technologies is defining the new normal and re-creating more sustainable societies.
Key speakers include:
o The Hon John Lee, The Chief Executive of the HKSAR Government
o Mr Yang Pengfei, Party Secretary; Director-General, Guangdong Provincial Administration of Government Service and Data
o Mr William Xu, Chair of Scientist Advisory Committee, Huawei
o Dr Will Cavendish, Global Leader of Digital Services, Arup
o Ms Selina Yuan, President for International Business, Alibaba Cloud Intelligence
o Dr Luyi Mo, Vice President and Head of Guangzhou-Shenzhen R&D Center, Pony.ai
Chambers Forum: Business Transformation for Integrating Traditional &New Economy
Tech innovation is critical to growth and success in the digital economy. Business leaders will share how enterprises integrate technologies to embrace challenges, capture opportunities and stay head of the curve in the new normal.
Key speakers include:
o The Hon Duncan Chiu, Legislative Council Member of the HKSAR (Technology and Innovation)
o Mr Steven Choi, Head of Tencent Cloud, Hong Kong & Macau
o Mr Marcus Spurrell, Co-CEO, Dmall International Business Inc
Smart City Forum: Advancing Smart City Development – GBA and Beyond
With China at the forefront in smart city initiatives globally, the Greater Bay Area is a prime growth engine of the smart city ecosystem. Attendees will discuss Hong Kong’s latest smart city initiatives alongside international best practices and GBA opportunities. Key speakers include:
o Mr Shigeru Dohno, Executive Vice President, Panasonic Corporation
o Mr Fred Sheu, National Technology Officer, Microsoft Hong Kong
o Mr Gerard Wolf, Chairman of the Sustainable Cities Task Force, MEDEF International
Digital Government Symposium – One-Stop Service, intelligent computing future, accelerate Digital Government Transformation
The HKSAR Government is committed to using innovation and technology to enhance urban management and develop Hong Kong into a smart city. Government industry experts will share successful practices, evolution paths and innovative ICT solutions.
Day 2
FinTech Forum – Reshaping the Digital Economy with Web3 and Virtual Assets
Hong Kong remains at the forefront of digital economy transformation. This forum will explore the potential of Web3 and virtual assets to drive innovation and growth, with a particular focus on empowering Web3 talent.
Key speakers include:
o The Hon Paul Chan, Financial Secretary, HKSAR Government
o Ms Clara Chan, Executive Director (Monetary Management), Hong Kong Monetary Authority
o Dr Feng Xiao, Vice Chairman and Executive Director, China Wanxiang Blockchain Inc
o Mr Gilbert Lee, Head of Strategy & Planning and Chief of Staff to Chief Executive, Hang Seng Bank
Beyond Web3 Forum – Unleashing the Innovative Power of Digitalization and Decentralization for a Smarter Economy
Experts, thought leaders, and innovators will gather at the forum to explore forefront Web3 technologies such as decentralised networks, blockchain infrastructure, ecosystem development as well as discuss how advanced AI in FinTech and innovations in digital currencies would harness the growth of a smarter city.
Key speakers include:
o Mr Sam Yao, Business Development Lead, Avalanche Asia
o Dr Ming Wu, Co-founder & CTO, Conflux
o Mr Tim Bailey, Vice President of Global Sales, Red Date Technology
Smart Mobility Forum: The Future of Smart City in the 5G Era
A comprehensive transportation network and smart mobility are indispensable elements of the smart city. Experts and industry pioneers share how 5G supports smart transportation, improves quality of life and strengthens the competitiveness of Hong Kong.
Key speakers include:
o Dr Wang Miao, Chief expert of VICAD (Vehicle and Infrastructure Cooperative Automated Driving), Baidu Inc
o Ir Ricky Leung, Executive Director of Engineering & Technology of Airport Authority Hong Kong
o Prof Ming Liu, Founder, Shenzhen Unity Drive Innovation Technology Co Ltd
New Industrialisation Forum: Building a People-oriented Smarter Industry
In line with the National 14th Five-Year Plan and Hong Kong’s development as an international innovation hub, the business sector is embracing Environmental, Social & Governance (ESG) responsibilities. Leaders discuss how integrated technologies can help businesses focus on people while protecting the planet and ultimately contributing to the digital economy.
Key speakers include:
o Mr Toni Drescher, Head of Technology and Innovation Management, Fraunhofer IPT
o Prof Zheng Li, Executive President, Institute of Climate Change and Sustainable Development, Tsinghua University
o Mr Massimo Trionte, General Manager, Asia Pacific, UTIL Group
DES 2023 will be held at Hong Kong Convention and Exhibition Centre (HKCEC) and online on April 13-14, 2023. InnoEX, jointly organised by the Government of the HKSAR and the Hong Kong Trade Development Council, as well as the 2023 Hong Kong Web3 Carnival co-hosted by Wanxiang Blockchain Labs and HashKey Group and organized by W3ME, will also be held concurrently at the HKCEC.
The issuer is solely responsible for the content of this announcement.
About Cyberport
Cyberport is Hong Kong’s digital technology flagship and incubator for entrepreneurship with over 1,900 members including over 800 onsite and close to 1,100 offsite start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, wholly owned by the Hong Kong SAR Government. With a vision to be the hub for digital technology, thereby creating a new economic driver for Hong Kong, Cyberport is committed to nurturing a vibrant tech ecosystem by cultivating talent, promoting entrepreneurship among youth, supporting start-ups, fostering industry development by promoting strategic collaboration with local and international partners, and integrating new and traditional economies by accelerating digital transformation in public and private sectors.
HONG KONG SAR – Media OutReach – 30 March 2023 – SCE Intelligent Commercial Management Holdings Limited (“SCE CM” or the “Company“, together with its subsidiaries, the “Group“, HKEX Stock Code: 606), a comprehensive property management service provider in China, is pleased to announce its audited annual results for the year ended 31st December 2022 (the “Year”).
In 2022, the real estate market was affected by the tightened financing channels, in addition to the COVID-19 outbreaks, which slowed the progress of project construction and opening, impacting the Group’s revenue from pre-opening management service. During the Year, the Group recorded a revenue of approximately RMB1.182 billion, with a gross profit of approximately RMB430 million and a gross margin of 36.4%. The Group’s profit for the Year amounted to approximately RMB213 million. Profit attributable to owners of the parent was RMB208 million, and the basic earnings per share was RMB10.0 cents.
For the commercial property management services business, the segment revenue was RMB396 million during the Year. As of 31st December 2022, the contracted GFA of the Group’s commercial property projects was approximately 5 million sq. m, while the GFA under management grew by 9.2% year-on-year to approximately 1.7 million sq. m, with the number of projects under management increasing to 17. Although COVID-19 flare-ups occurred across the PRC during the year, which affected the overall progress of construction, the resilient China SCE Group Holdings Limited (“China SCE Group”) concentrated resources to ensure the speedy completion SCE Funworlds. In December 2022, the Gaomi SCE Funworld located in Shangdong Province opened for business, which was the Group’s first shopping mall under management in the Bohai Rim Economic Zone. The occupancy rate was over 92% and the number of visitors exceeded 150,000 on the opening day.
For the residential property management services business, the Group strived to develop diversified value-added services during the Year, launching and improving in succession various service models and further extending the service scope, including car park sales services, exquisite residence services and residential property agency services. At the same time, the Group further enhanced the management scale by leveraging its capital advantages, the strength of its brand and service management capabilities, maintaining a steady development of its residential property management services business, the segment revenue of which amounted to approximately RMB786.6 million during the Year, representing an increase of 17.9% year-on-year. As of 31st December 2022, the Group’s contracted GFA and the GFA under management of residential property projects increased by 6.7% and 15.2% to 43.2 million sq. m and 24 million sq. m, respectively. The number of projects under management increased by 21 year-on-year to 149.
As the Chinese government modified its response to COVID-19 outbreaks, the economy is set to gradually recover. China SCE Group and other real estate developers are expected to speed up the construction progress of all projects. The Group is anticipated to regain its previous pace and expand its management scale at an accelerated rate. In 2023, Beijing West Chang’an SCE Funworld, China SCE Group’s first outlet-style shopping mall, commenced operation in March, while the construction of three other SCE Funworlds is proceeding at a quickened pace, to be completed during the year.
Mr. Wong Lun, Chairman of SCE CM, said, “Looking ahead, the Group will continue to develop based on the principle of increasing income and reducing costs. On the one hand, it will expand more value-added services with higher profit margin and further develop the third-party management services to replicate SCE CM’s high-quality management model. On the other hand, the Group will extend digitalized applications and optimize its human resources organization, in order to further enhance the Group’s competitiveness in the market. At the same time, the Group will identify potential targets among industries and expand the scale of its property management portfolio, thereby magnifying the brand effect of ‘SCE CM’.” Hashtag: #SCECM
The issuer is solely responsible for the content of this announcement.
About SCE Intelligent Commercial Management Holdings Limited (HKEX Stock Code:606)
Established in 2003, SCE Intelligent Commercial Management Holdings Limited is a comprehensive property management service provider that mainly engages in commercial property management and operation services as well as residential property management services. The regions it serve include the West Taiwan Strait Economic Zone, Yangtze River Delta Economic Zone, the Bohai Rim Economic Zone, the Guangdong-Hong Kong-Macao Greater Bay Area, and the Central Western Region. As of 31st December 2022, SCE CM had a large contracted property management portfolio encompassing 62 cities across 19 provinces, municipalities and autonomous regions in China. In 2022, the Group was awarded the “2022 China Top 100 Commercial Real Estate Developers” and “2022 Top 100 Property Management Companies in China”, respectively, by China Index Academy.
For more information, please visit SCE CM’s website: www.sce-icm.com
HONG KONG SAR – Media OutReach – 30 March 2023 – Green Radar (Hong Kong) Limited (“Green Radar” or “the Company”), and Macro Systems Limited (“Macro Systems”), a digital solution, consulting, and management services provider in Hong Kong, jointly announced that Macro Systems had adopted Green Radar’s grMail to provide the most suitable and comprehensive email security solutions for enterprise customers. In January 2023, grMail was named as a leader among email security service providers in Hong Kong and Singapore by market research company Frost & Sullivan. grMail provides comprehensive email security solutions that effectively intercept spam, viruses, malware, fake emails, phishing, CEO fraud, and other attacks via emails.
(From left) Mr. Kenneth Ma, Senior Vice President, Sales of Green Radar, and Mr. Alex Lau, CEO of Macro Systems
In recent years, various industries have faced multiple challenges on the I.T. front, such as a shortage of professional talent and resources. However, most companies have high requirements for I.T. efficiency and performance. Under this supply-demand problem, retaining professional I.T. talent has become extremely difficult. Companies lack of the workforce with relevant skills and knowledge to support the organization’s drive to adopt advanced technologies.
Cyberattacks are becoming more complex, especially as 75% of attacks currently originate from email, and an increasing number of enterprise-phishing attacks disguise with local languages, BEC attacks, and trending topics, which are big challenges for in-house I.T. personnel. Green Radar’s grMail is remediating such vulnerabilities shared by many companies. Through Green Radar’s Security Operations Center (SOC) and Macro Systems’ MSP service, A.I.-powered data can be seamlessly obtained from grMail. Operating 24×7 to enhance local threat intelligence, monitoring, and interception capabilities, establish security barriers, and diminish the impact of attacks, allowing enterprise customers to handle business without any concerns.
Mr. Kenneth Ma, Senior Vice President, Sales of Green Radar, said: “We are pleased to join hands with Macro Systems. Green Radar’s data shows that grMail has successfully intercepted many localized email attacks over the past year, protecting companies from unnecessary losses. On the other hand, hackers continue to launch attacks through a variety of patterns and content. Green Radar’s Email Threat Index (GRETI) in Q4 2022 has slightly decreased compared to the previous quarter, but companies cannot take it lightly. Enterprises from all walks of life need to raise awareness of preventing network attacks and taking precautions.”
Mr. Alex Lau, CEO of Macro Systems, said: “Cyberattacks and threat landscapes are constantly changing. Hong Kong enterprises will find it difficult to catch up and respond effectively solely based on their own hardware and software. Macro Systems provides customers with one-stop IT management services covering basic IT infrastructure, network security, the Internet of Things (IoT), A.I. etc. With Green Radar’s unique and targeted technology, our advanced and proactive monitoring and problem-solving solutions can help customers actively combat cyberattacks and protect important information, reducing the cost of handling related problems for enterprises.”
Hashtag: #GreenRadar
The issuer is solely responsible for the content of this announcement.
About Green Radar
Green Radar redefines email security and enables organisations to focus on running their business. We take a Managed Detection & Response (MDR) approach to protect organisations from email threats by combining big data with artificial intelligence, global threat intelligence and a team of cybersecurity experts to keep your inbox safe. Green Radar was recognised by market research company Frost & Sullivan in 2023 as a leader in the email security market in Hong Kong and Singapore, leading the field in terms of technological comprehensiveness and innovation.
Green Radar is a member of Edvance International Holdings Limited (1410.HK), a leading cybersecurity and innovative technology company headquartered in Hong Kong.
A reputable company headquartered in HK provides digital solutions, consulting and IT managed service for thousands of clients worldwide.
Founded in 1997, we partner with industry-leading solution providers around the world to provide innovative products and services over the decades.
As a member company of CITD group (SEHK: 8178), we successfully leverage our Solution Demo Centre & Data Centre to serve clients with the comprehensive solutions, from IT infrastructure, cloud, cybersecurity to AI sectors.
Awarded by ISO 27001 & ISO 20000, our technical talents in Asia & North America are committed to serving all clients with high quality, professional, and reliable solution continuously and always.
New security analytics offering integrates threat intelligence with correlated data from various sources across the enterprise, providing threat visibility, proactive hunting, and threat response
HONG KONG SAR – Media OutReach – 30 March 2023 – NTT Ltd., a leading global IT infrastructure and services company, today announced the launch of its Managed Detection and Response (MDR) security service to help companies achieve business performance objectives through improved cyber resilience. The cloud-native, analytics-driven offering combines human and machine expertise with leading technologies and threat intelligence to reduce the mean time to detect and respond to cyber-attacks.
The MDR service is built on Microsoft Sentinel, Microsoft’s leading next-gen security information and event management (SIEM) platform, powered by AI, automation, and threat intelligence. Sentinel enables organizations to collect data at scale across all users, devices, apps, and infrastructure, both on-prem and in multicloud environments.
Using analytics, machine learning, and threat intelligence, the service hunts for suspicious activities and minimizes false positives. With built-in orchestration and automation of common tasks, enterprises can respond to incidents rapidly and remotely isolate threats.
This latest offering represents another step forward in NTT and Microsoft’s multi-year Strategic Alliance Agreement (SCA) signed in 2020. Since then, the two companies have collaborated to build advanced solutions in public, private and edge cloud, data & AI, digital & app innovation, modern workplace, and now most recently in security.
With over 25 years of Microsoft experience, including 5000+ Microsoft engineers, and more than 10,000 Microsoft certifications, NTT provides an advanced combination of application and systems integration, advisory and managed cloud, and security services that are built using Microsoft platforms and can be delivered globally.
“Organizations are typically utilizing a patchwork of security technologies that lack alignment,” said Charlie Li, Senior Executive Vice President: Managed Cloud and Infrastructure Services, NTT Ltd. “This disjointed approach has left businesses often unable to detect hard-to-find threats and lacking the necessary agility to mitigate them. Many are simply adding more security layers, increasing complexity, and generating even more logs and alerts that go untreated.”
“NTT’s MDR service helps organizations stay ahead of attackers and has a direct impact on workforce productivity and customer satisfaction through real-time and long-term threat correlation, advanced analytics, and continuous monitoring of digital transactions. It delivers a strong cyber-resilience posture, directly impacting an organization’s operational, financial, and resource resilience,” he added.
“Our research indicates that IT security professionals are in high demand, largely driven by more threats that have sprouted with the expansion of today’s hybrid workforce and the magnitude of the increased volume of digital transactions impacting businesses,” said Craig Robinson, Research VP, International Data Corporation (IDC). “MDR services are greatly assisting organizations in taking a pro-active stance to protect all forms of digital transactions and providing those organizations with high-impact, real-time, advanced analytics and professionals 24X7X365.”
“We’re extremely pleased to expand on our existing strategic relationship with NTT through the launch of the new MDR service, based on Microsoft Sentinel, to further help protect and support our joint customers,” said Csaba Deme, General Manager, Global Security Sales at Microsoft.
NTT is well-positioned to enhance its strategic partnership with Microsoft, having earned the esteemed Microsoft Azure Expert Managed Services Provider status, as well as 8 Specializations. NTT is a member of the Microsoft Intelligent Security Association (MISA) and boasts a strong legacy with over 20 Microsoft Partner Awards, including the prestigious Partner of the Year.
The global managed detection and response market size is predicted to increase from $2.6B in 2022 to $5.6B by 2027. Some of the factors that are driving market growth include shortage of skilled cyber security professionals and budget constraints, government regulations, and strict compliance for adoption of MDR services.
NTT’s MDR base service includes service tiers and deployment options, as well as support for add-ons that provide additional capabilities to expand detection capabilities and response actions. Current add-ons are MDR for Endpoint and Security Device Management (SecDM) for MDR, for Security Devices and Services.
To find out more about NTT’s Managed Detection and Response service click here.
The issuer is solely responsible for the content of this announcement.
About NTT Ltd.
As part of NTT DATA, a USD 30 billion IT services provider, NTT Ltd. is a leading IT infrastructure and services company serving 65% of the Fortune Global 500 and more than 75% of the Fortune Global 100. We lay the foundation for organizations’ edge-to-cloud networking ecosystem, simplify the complexity of their workloads across multicloud environments, and innovate at the edge of their IT environments where networks, cloud and applications converge. We offer tailored infrastructure and ensure consistent best practices in design and operations across all of our secure, scalable and customizable data centers. On the journey towards a software-defined future, we support organizations with our platform-delivered infrastructure services. We enable a connected future. Visit us at services.global.ntt
HONG KONG, SHANGHAI AND PARIS – Media OutReach – 30 March 2023 – Hang Lung Properties (SEHK stock code: 00101) (“Hang Lung”) and Moët Hennessy Louis Vuitton (“LVMH”) (collectively hereafter, “the Groups”) are delighted to announce that the Groups have formulated an ambitious agenda for sustainability action together entitled Common Charter: Joining Forces to Accelerate Change (“Charter”), which outlines a set of 20 innovative actions they will implement in 2023 to accelerate sustainability progress. The Charter is the next important step for the first-of-its-kind sustainability partnership agreement (“Agreement”) entered into by the Groups in October 2022. It follows their inaugural Real Estate & Climate Forum (“Forum”) held in November 2022, which convened hundreds of people and generated more than 200 ideas.
Under the Charter, the Groups will pursue 20 concrete actions organized under the following four pillars:
Climate Resilience, including sharing energy data, turning off lights at night, encouraging energy innovation through awards, and pursuing renewable energy;
Resource Management, including a mandatory carbon footprint analysis, a shared database of low carbon materials, auditing waste streams, and innovative projects in recycling and reuse, water management, and biodiversity;
People and Wellbeing, including air quality and acoustics projects, development of a shared learning agenda, and initiatives to enhance community wellbeing; and
Sustainability Governance, including the use of digital platforms to improve environmental governance, and sharing of strategies for sustainable procurement.
To speed progress, leverage expertise and strengthen impact under the Charter, the Groups are partnering with a number of external organizations, including: Bluerisk on water management; CLP on renewable energy; GIGA (RESET) on carbon footprint assessment and low carbon materials; the Institute of Public and Environmental Affairs (IPE) on environmental governance; Schneider Electric on energy management; and TRASHAUS on waste audits and recycling. In addition, they are developing research projects on key challenges through the Urban Land Institute, and through Hang Lung’s association with the Hang Lung Center for Real Estate at Tsinghua University.
Mr. Adriel Chan, Hang Lung Properties Vice Chair, and Chair of its Sustainability Steering Committee, said: “Hang Lung and LVMH have already covered much ground in the five months since entering our pioneering sustainability partnership. Now, we aim to design and shape even more innovative sustainability solutions together through the 20 actions that we will implement in 2023, as detailed in the Charter. We have been able to move so quickly together because of the trust between the two Groups, our embrace of innovation and ‘learning by doing’, and our commitment to accelerating positive impacts in sustainability. In early 2024, we will report back on how we did in all 20 action areas, as well as add new ideas for even greater impact.”
“This partnership will be a model around the world, of how to create new partnerships between landlords and tenants. We need to accelerate improvements to the stores’ environmental footprint. Synergies such as this one are key to addressing sustainability challenges. The Charter is a new phase in our partnership, one of action, through our 20 concrete measures. With the support of a new kind of changemaker – our great partners such as Bluerisk, CLP, GIGA (RESET), Schneider, and TRASHAUS – the Real Estate and Climate Forum established by the Groups is really a portfolio of solutions,” said Ms. Helene Valade, LVMH Group Environment Development Director.
Some of the Charter actions have already begun. For example, the Groups are working with TRASHAUS on a waste audit covering the demolition process of a store renovation in Hang Lung’s Plaza 66 in Shanghai. The audit is collecting data on wood, metal and mixed renovation waste, and investigating waste transit and recycling facilities, in order to identify ways to reduce waste and increase circularity. The Groups will then look to apply insights gained to other tenant renovations.
In a spirit of transparency and to encourage greater innovation and collaboration among stakeholders, the Groups are making the Charter public in its entirety. It is available for download in both English and simplified Chinese on their shared Forum website. Updated versions of the Charter, reflecting learnings, progress achieved – including quantifiable results from actions undertaken in 2023 – and new ambitions, will be released in 2024 and 2025.
Spanning Hang Lung’s portfolio of properties across seven cities in mainland China, the Agreement engages 26 LVMH brands occupying over 90 retail spaces with a lettable floor area in excess of 27,000 sq. m. With plans to engage the employees and suppliers of both Groups, the partnership will run to the end of 2025, and is expected to be renewed thereafter.
Hashtag: #HangLungProperties
The issuer is solely responsible for the content of this announcement.
About Hang Lung Properties
Hang Lung Properties Limited (SEHK Stock Code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the “66” brand, the company’s Mainland portfolio has established its leading position as the “Pulse of the City”. Hang Lung Properties is recognized for leading the way in enhanced sustainability initiatives in real estate as it pursues sustainable growth by connecting customers and communities.