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2022 iSee Gastronomy Forum Brings Global Gastronomic Stars to the Journey of Terroir

TAIPEI, TAIWAN – Media OutReach – 10 August 2022 – The 2022 iSee Gastronomy Forum, organized by the iSee Taiwan Foundation that commits itself to acquainting the world with Taiwan’s beauty and value, unveils today at Kaohsiung Exhibition Center. At the invitation of the Ministry of Culture, the Foundation is building on the previous year’s great success and once again hosting a summit dialogue, leveraging the expertise of gastronomic masters from around the world to explore the sustainability of terroir and cultural strength. The Forum brings to life an exquisite experience that highlights the extraordinary value of Taiwan’s culture and cuisine.

Caption
Masters at the 2022 iSee Gastronomy Forum (clockwise from top): Thomas Bühner, Gilles Compañy, Florian Guillemenot, Wu Chien Hao, Daniel Negreira, Thomas Chien, and Don Chen.

In the spotlight are seven gastronomic heavyweights. German 3 Michelin Star Chef Thomas Bühner and Don Chen, Chief Executive of the iSee Taiwan Foundation, kick the Forum off with in-depth discussion on “Creating Value through Terroir.” Followed by Gilles Compañy, Executive Chef & Culinary Academic Director Le Cordon Bleu Japan, who sheds light on the importance of global gastronomy. Florian Guillemenot, Patisserie Teaching Master Chef of Le Cordon Bleu Taiwan-NKUHT, presents French pastries blended with a flavor unique to Taiwan. Local chef Thomas Chien, 2021 Green Dining Guide Champion Award winner, and Spanish chef Daniel Negreira, a recurrent name on the MICHELIN Guide recommendation list, join hands for a demonstration of fine dining only fitting to the elegance of Taiwan’s distinctive terroir and cuisine. Newly added to this year’s agenda is “iSee Gastronomy Stage”, an event specially made accessible to the public. Wu Chien Hao, chef of the beloved Taiwanese eatery A SHA Restaurant, interprets how cuisine distinctive of this land attests to the beauty of its terroir. Separately, industry-academia collaboration among Kaohsiung Farmers League, National Kaohsiung University of Hospitality and Tourism, and others is set to further flavor this exciting event that has so much to offer.

Hashtag: #iSeeTaiwanFoundation

The iSee Taiwan Foundation

The Foundation’s vision is to become an essential portal for the world to see Taiwan via cultural tourism.

TUMI Launches Fall 2022 Collection

HONG KONG SAR – Media OutReach – 10 August 2022 – For Fall 2022, TUMI explores the concept of “Future Earth.” Looking towards the new world, TUMI reexamined its innovations to help better every journey – and the planet. Technical and material innovations are only the beginning. TUMI’s goal is to reduce the ecological footprint it leaves behind while increasing the impact it has on its clients’ lives. TUMI achieves this through timeless designs that run parallel to its mission of creating built-to-last products that remain in the world for generations to come.

19 Degree Aluminum International Carry-on in Truffle/Saffron

19 Degree Aluminum International Carry-on in Truffle/Saffron

“It is more important than ever for us to understand the world we live in and take responsibility for what we create to coexist within it,” says TUMI Creative Director, Victor Sanz. “We will continue fortifying our core strengths by marrying technology and the digital space with sustainable innovations. We’ve also examined the natural landscape for inspiration on color and texture. We are creating our future Earth.”

Exemplifying this commitment is TUMI’s assortment of hardside carry-ons and packing cases, including their iconic 19 Degree collection. In aluminum, TUMI introduces a new ombre colorway that is both contemporary and classic.

A special sustainable edition of 19 Degree polycarbonate travel collection launches, with shells and linings made with recycled materials. Matte finish with speckling throughout is a first for the collection.

Tegra-Lite Collection in Sky Blue

Tegra-Lite Collection in Sky Blue

Travel is a key focus for the brand as it knows the world is ready to travel again. The new Tegra-Lite travel collection is sleeker than ever and will be available in carry-on, short trip and extended trip sizes. Each will have the option of an included front pocket to streamline travel even more. What truly sets this collection apart, while also tying it into TUMI’s commitment to sustainability, is the introduction of components made from recycled materials with enhanced durability, and TUMI+ accessory compatibility.

TUMI+ is an ecosystem of add-ons that enhance the carrying capacity and function of select styles. It grows this season with even more additions that will help uncomplicate any journey.

Alpha Bravo Collection in Grey/Quilting

Alpha Bravo Collection in Grey/Quilting

TUMI expands upon its Alpha Bravo collection with new colors and fabrications. The collection channels its signature go-anywhere, do-anything energy with a lightweight, minimalist collection featuring core styles reimagined in neutral, textured nylon fabric. Its design language is distilled from classic puffer styling and the idea of adding even more protection for your belongings with visible cushioning.

For the business and commute-oriented, TUMI debuts its most compact backpack yet, the Harrison William. Similarly versatile is the Port Weekend Duffel that has its place in the gym and on the road. TUMI also launches Harrison bestsellers in upcycled leather, holding true to their commitment to sustainability.

TUMI and longstanding partner McLaren take their collection one step further creating pieces that reflect their shared value of high-performance design. The core pieces of the collection will be launched in CX6 carbon fiber. Known for its exceptional strength, carbon fiber enhances the strength of each silhouette and elevates modern appeal.

TUMI continues its foray into the world of women’s bags with delicate prints, palettes and silhouettes. Pink Metallic, Zinc and Beetroot are some of the colorways coming in for Fall.

Voyageur Carson Backpack in Beetroot/Emboss19 Degree International Expandable Carry-On in Beetroot

Voyageur Carson Backpack in Beetroot/Emboss

19 Degree International Expandable Carry-On in Beetroot

Voyageur shows off its sophisticated side with three new leather bags. The Liv Backpack can either be worn as a backpack or carried as a tote, making it the quintessential everyday bag. The spacious Adrian Carryall brings a stylish new attitude to Voyageur Leather. The Helena Crossbody comes with a delicate gold chain strap that is removable, so the bag can also be worn as a clutch or a wristlet.

With a focus on wellness and adaptability, TUMI brings another innovative yoga bag to their lineup. The Yoga Sling Tote effortlessly converts from a crossbody sling that’s sized to hold a yoga mat, into a modern, oversized tote.

Collection is available now via TUMI.com

Keep up with TUMI on Instagram and Facebook

Full Media Kit is here

About TUMI

Since 1975, TUMI has been creating world-class business, travel lifestyle, and performance luxury essentials designed to upgrade, uncomplicate and beautify all aspects of life on the move. Blending flawless functionality with a spirit of ingenuity, we’re committed to empowering journeys as a lifelong partner to movers and makers in pursuit of their passions. The brand is sold globally in over 75 countries with upwards of 2,000 points of sale.

For more about TUMI, visit .

Okta Study Reveals High Degree of Customer Identity & Access Management (CIAM) Adoption, Low CIAM Maturity Among APAC Organisations

Study further examines the challenges organisations face in managing CIAM solutions, and the benefits of adopting digital-first strategies

SINGAPORE – Media OutReach – 10 August 2022 – Okta, Inc. (NASDAQ: OKTA), the leading independent identity provider, today announced the results of IDC’s Asia/Pacific Customer Identity and Access Management 2022 Survey commissioned by Okta. The study explores the dynamics of managing customer identity and access in a digital world, including the challenges that these organisations face, and how digital-first organisations fare against their peers. IDC surveyed senior and mid-level management personnel in IT and lines of business across 750 organisations in Asia Pacific (APAC) in April 2022 for this study.

The study revealed that the pandemic has either accelerated or highlighted the need for digital-first strategies, with 72% of APAC organisations realizing the need for digital-first strategies, and another 21% having already anticipated the need for such strategies prior to the pandemic. This awareness has led to widespread adoption of customer identity & access management (CIAM) solutions, with 56% of digital-first leaders having already deployed CIAM, and another 32% planning deployment in the next 12-24 months.

However, the study also revealed a low level of CIAM maturity among organisations, where only 34% of digital-first leaders and 14% of digital-first followers have adopted an advanced approach towards CIAM. An advanced CIAM approach is defined in the study as an approach where customer identities are managed via a CIAM platform with full integration to enable 360-degree customer overviews in order to deliver a highly personalized experience. Digital-first leaders with a high level of CIAM maturity show better business outcomes such as customer acquisition, customer loyalty, digital talent attraction and retention, and time to market for new products and services.

“Enterprises are leaning more into digital-first strategies as evidenced by this study, and one of the most important strategies that CEOs in this region have identified is to leverage pent up demand from customers and consumers by improving on digital product and services experiences. CIAM is fundamental to delivering a seamless experience whilst keeping customers’ service experiences around assurance intact.” said Linus Lai, Vice President, Software and Services APEJ at IDC.

“Organisations today need to embrace digital-first strategies to succeed in the hyper-competitive digital economy. A well-integrated, secure and seamless CIAM solution is the key to ensuring the most optimal digital user experience for customers and end-users,” said Philip Goldie, Vice President and Managing Director for Australia and New Zealand at Okta.

“Organisations need to level up their CIAM deployments in order to reap the full benefits that it brings, such as better customer satisfaction, business agility and resilience against an ever-evolving cyber threat landscape.” said Ben Goodman, Senior Vice President and General Manager of Asia Pacific Japan at Okta.

From digital transformation (DX) to digital-first

IDC predicts in a separate report that by 2022, more than half the global economy will be based on or influenced by digital technologies[1]. To compete and succeed in this increasingly digital world, enterprises must adopt a digital-first strategy. The study revealed that digital-first leaders are more likely to prioritise customer satisfaction, business agility, and innovation beyond traditional metrics such as revenues. Such priorities naturally put customer experience (CX) at the forefront of a digital-first strategy.

Digital-first leaders are more likely to report an improvement versus their peers in customer satisfaction and retention, beyond traffic and support volume. According to the IDC study, digital-first organisations reported 8-12% higher performance across all customer metrics, compared to their peers.

Challenges of managing identity and access

Digital-first organisations are re-imagining ways to improve productivity and digital experiences across the whole ecosystem involving vendors, partners, customers and suppliers. However, these transformations brought up a number of challenges, especially around customer identity verification and access security. The top three challenges highlighted in the study include difficulty defending against malicious attacks (9%), combining customer access through multiple channels (9%), and managing customer privacy content (9%).

Securing the digital identities of customers as well as the larger ecosystem participants is considered table stakes in ensuring the success of a digital-first strategy. Hence, investments in CIAM technologies have become a necessity to enable a secure and personalised digital experience. CIAM solutions provide organisations with better visibility to ward off cyber threats across systems, allowing for better defence from malicious cyberattacks.

Digitally mature countries are more focused on security and CIAM investments

Countries across the Asia/Pacific region fare differently in terms of digital maturity. Australia (67%), Singapore (66%) and New Zealand (60%) were the top three regions with a strong digital-first strategy in place. In addition, regions with higher percentages of digital-first organisations are also more likely to consider CIAM as a top priority investment for their organisation. New Zealand (90%), Australia (87%) and Singapore (72%) were among the top regions that considered CIAM as a top priority.

CIAM solutions often result in a range of tangible benefits for organisations that choose to invest in them. According to the survey, the top three business benefits that these organisations have achieved by investing in CIAM solutions are operational efficiency (22%), improved security posture (19%), and enhanced customer experience (17%).

  • Okta’s The Role of Customer Identity Management in a Digital-First World white paper can be downloaded at this link.

Hashtag: #Okta

About Okta

Okta is the leading independent identity provider. The Okta Identity Cloud enables organisations to securely connect the right people to the right technologies at the right time. With more than 7,000 pre-built integrations to applications and infrastructure providers, Okta provides simple and secure access to people and organisations everywhere, giving them the confidence to reach their full potential. More than 15,800 organizations, including JetBlue, Nordstrom, Siemens, Slack, Takeda, Teach for America, and Twilio, trust Okta to help protect the identities of their workforces and customers.

Southco Introduces Stylish New Corrosion-Resistant Stainless Steel Positioning Hinge

HONG KONG SAR – Media OutReach – 10 August 2022 – Southco Asia Ltd., a subsidiary of Southco Inc., a leading global provider of engineered access solutions such as locks, latches, captive fasteners, electronic access solutions and hinges/ positioning technology has recently expanded its successful E6 Constant Torque Position Control Hinge series to include a corrosion-resistant cast stainless steel version that provides superior durability in harsh outdoor environments. With its stylish, highly polished finish and powerful holding torque, the E6 Constant Torque Position Control Hinge features a refined look and provides long lasting, maintenance-free performance.

E6 Stainless Steel Hinge

E6 Stainless Steel Hinge

E6 Constant Torque Position Control Hinges provide reliable positioning with consistent operating efforts and eliminate the need for gas struts or other secondary support components to hold doors or panels in position. Southco’s E6 Constant Torque Position Control Hinges are preset during the manufacturing process and guarantee performance without adjustment for the lifetime of most applications.

Global Product Manager Stewart Beck adds, “The stainless steel E6 Constant Torque Position Control Hinge is a premium product that provides maximum corrosion resistance and a stylish, polished appearance. The ergonomic and attractive E6 Hinge is ideal for marine, medical and food equipment applications.”

For more information about the latest Southco’s E6 Hinge, please visit https://southco.com/E6-Hinge.

Hashtag: #Southco

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

About Southco

Southco, Inc. is the leading global designer and manufacturer of engineered access solutions. From quality and performance to aesthetics and ergonomics, we understand that first impressions are lasting impressions in product design. For over 70 years, Southco has helped the world’s most recognized brands create value for their customers with innovative access solutions designed to enhance the touch points of their products in transportation and industrial applications, medical equipment, data centers and more. With unrivalled engineering resources, innovative products and a dedicated global team, Southco delivers the broadest portfolio of premium access solutions available to equipment designers throughout the world.

Southco Asia Limited
2401, Tower 2, Ever Gain Plaza
88 Container Port Road, Kwai Chung
Hong Kong

Trial of Vehicle Segregation Proves Chaotic in Hanoi

Traffic in Hanoi
Traffic in Hanoi (VN Express).

Three days in, the trial of vehicle segregation on Hanoi streets has failed to calm traffic. 

Tropical Storm Mulan to Hit Laos This Week

Tropical storm Mulan is expected to reach Laos this week before weakening into a depression on Thursday.

HKBU launches Turing AI Orchestra as next milestone in human-AI art co-creation

HONG KONG SAR – Media OutReach9 August 2022 – Hong Kong Baptist University (HKBU) has announced the launch of the world’s first “Turing AI Orchestra” today (9 August) as the next milestone in its visionary plan to broaden the scope and explore potential opportunities in art co-creation by humans and artificial intelligence (AI).

(From left) Professor Johnny M Poon, Ms Rosanna Choi, Professor James Tang Tuck-kong, Professor Alexander Wai, Professor Sun Dong, Dr Clement Chen, Professor Guo Yike, Ms Zhu Yihua, Mr Mohamed Butt and Ms Christine Chow.

The Turing AI Orchestra is the world’s first AI ensemble. By applying state-of-the-art AI technology, the Orchestra aims to achieve a new form of symbiotic artistic creation and performance between humans and AI systems.

The announcement of the launch of the Orchestra was made at the Human, Machine, Art, Creativity: International Symposium co-organised by HKBU and the Hong Kong Productivity Council, at which world-renowned researchers and artists from academia and industry gathered to discuss the development of human-AI symbiotic art creativity.

Mr John Lee Ka-chiu, Chief Executive of the HKSAR; Mr Xu Jie, Deputy Director-General, Department of International Cooperation, Ministry of Science and Technology of the People’s Republic of China; Dr Zhang Zhihua, Director-General, Youth Department of the Liaison Office of the Central People’s Government in the HKSAR, graced the occasion and gave video addresses. Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government also gave an opening address in person.

Other officiating guests of the opening ceremony included Professor James Tang Tuck-kong, Secretary-General of the University Grants Committee; Ms Zhu Yihua, Deputy Director-General, New Territories Sub-office of the Liaison Office of the Central People’s Government in the HKSAR; Mr Mohamed Butt, Executive Director of the Hong Kong Productivity Council; Dr Clement Chen, Chairman of the Council and the Court of HKBU; Ms Rosanna Choi, Treasurer of the Council and the Court of HKBU; Professor Alexander Wai, President and Vice-Chancellor of HKBU; Professor Guo Yike, Vice-President (Research and Development) of HKBU; Ms Christine Chow, Vice-President (Administration) and Secretary of HKBU; and Professor Johnny M Poon, Associate Vice-President (Interdisciplinary Research) of HKBU.

In his address, Chief Executive Mr John Lee Ka-chiu said: “Hong Kong Baptist University, with its commitment in discovering and nurturing new technologies and big ideas, is a leading force in comprehensive research and development for arts technology. The pioneering and innovative project Building Platform Technologies for Symbiotic Creativity in Hong Kong is funded by the Research Grants Council. It is one of China’s biggest artificial intelligence technology research projects. It seeks to radically advance human and AI interaction and contribute to the sustainability of our arts ecosystem.”

In his welcoming speech, Dr Clement Chen said: “With the emerging trend of applying technology to art creation, our scholars at HKBU are also pushing the frontiers of art-tech to transform the creation of art and culture. We are also impressed and encouraged by the increased amount of support offered by the National 14th Five-Year Plan and the HKSAR Government’s drive to promote and develop art-tech. Against such a backdrop, our important initiatives will definitely support and spearhead the development of art-tech in Hong Kong and enable the SAR to assume a leading position in art-tech on the global stage.”

In his address, Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government said: “Leveraging the advanced development in the AI technologies, art creations can be transformed and propelled to the next level, bringing new experiences to audiences and significant socio-economic benefits to the city. I must say, the Hong Kong Baptist University has best demonstrated how AI can be a creative force in performing music, cross-media art and dance at its Symphony Orchestra Annual Gala Concert held last month. It truly marks a milestone in the history of arts tech, showing the harmonious collaboration between human and machine.”

Outlining the concept of the Turing AI Orchestra (TAIO), Professor Guo Yike said that it offers an open platform for artists and scientists from around the world to collaborate within a dynamic and innovative environment, and it will produce groundbreaking AI research that will disrupt the world of art.

“The Turing AI Orchestra also echoes one of the project tasks stated in the project proposal – building a Digital Art and Policy Network, for symbiotic creativity collaboration and related policy innovation. It is envisaged that TAIO, as a vibrant and sustainable development base, can help us put our vision, philosophy and technology into practice via creative performances in the context of active international collaboration. By using Blockchain technologies, TAIO will realise the world’s first Decentralised Autonomous Organisation (DAO) ecosystem for art creation through collaboration between scientists and artists.

TAIO will promote transdisciplinary whole-person education to the next generation in Hong Kong. It will propel strategic policymaking by the Government to guide Hong Kong’s cultural and creative industries development going forward, thus contributing toward building Hong Kong to be an international cultural exchange and Intellectual Property trading hub,” said Professor Guo.

Apart from launching the TAIO and introducing ongoing HKBU initiatives in human-AI symbiotic art creativity, today’s Symposium also covered topics including the enabling technologies of symbiotic art creation and manifestation, the aesthetics and cognitive values of symbiotic art creativity, the new trend of the art economy with the ecosystem of Metaverse, new issues raised by the new forms of art in society, and the impact on art community stakeholders, among others.

Following the first human-AI collaborative performance of its kind in the world at the Annual Gala Concert of the HKBU Symphony Orchestra on 14 July, today’s Symposium is another key deliverable of the “Building Platform Technologies for Symbiotic Creativity in Hong Kong” research project supported by HK$52.84 million in funding from the Theme-based Research Scheme under the Research Grants Council.

Hashtag: #HKBU

China Tower Forging ahead “One Core and Two Wings” strategy to capture market opportunities

Profit attributable to owners of the Company up 22.2%

HONG KONG SAR – Media OutReach – 9 August 2022 – The world’s largest telecommunications infrastructure service provider China Tower Corporation Limited (“China Tower”, or the “Company”) (Stock Code: 0788.HK) is pleased to announce its interim results for the six months ended 30 June 2022.

Performance Highlights

RMB Million

For the six months ended 30 June
2022 2021 Change
Operating revenue 45,479 42,673 +6.6%
EBITDA 31,958 31,184 +2.5%
Profit attributable to owners of the Company 4,224 3,457 +22.2%
Basic earnings per share (RMB yuan) 0.0242 0.0198 +22.2%
Key operating data
Number of tower sites (thousand) 2,049 2,035 +0.7%
Number of tower tenants (thousand) 3,521 3,423 +2.9%
Tower tenancy ratio (tower tenants / tower sites) 1.72 1.68 +2.4%


Our revenue maintained healthy growth while profitability continued to improve in the first half of 2022, with operating revenue reaching RMB45,479 million, up by 6.6% year-on-year. Our EBITDA1 amounted to RMB31,958 million, an increase of 2.5% over the same period last year, with an EBITDA margin2 of 70.3%. Profit attributable to owners of the Company totaled RMB4,224 million, up by 22.2% year-on-year, with a net profit margin of 9.3%.

Our cash flow remained strong. In the first half of 2022, net cash generated from operating activities amounted to RMB31,306 million, an increase of 29.2% year-on-year. Capital expenditures were RMB9,085 million, a reduction of 12.3 year-on-year. As a result, our free cash flow3 reached RMB22,221 million, up by 60.1% year-on-year. Our financial position remained stable and healthy, with the Company’s total assets reaching RMB313,523 million as of 30 June 2022. Our interest-bearing liabilities stood at RMB92,428 million with a gearing ratio4 of 31.1%, 5.9 percentage points lower than the same period last year.

In the first half of 2021, despite the adverse impact of the pandemic re-emerging in various regions in China, we orchestrated our Covid-19 containment measures and operating activities under the guidance of established strategy, strengthening our capabilities in resource coordination and sharing. Building on the stable development of our telecommunication service provider (“TSP”) business, our Smart Tower business and Energy business continued to experience rapid growth.

Dual growth engines of “5G + DAS” enabled stable growth in TSP business

Given the increasing coverage and penetration of 5G network in China, we maintained our focus on the latest market trends and evolving customer demands over the first half of the year and furthered resource coordination and sharing. As a result, we were able to build large-scale 5G networks in a cost- effective and highly efficient manner through offering innovative service and construction models. The Company undertook 318,000 5G base-station demand in the first half of 2022, with the cumulative number reaching 1.544 million as of 30 June 2022, of which 97% were fulfilled by sharing existing resources. Additionally, increasing DAS construction demand promoted even greater growth of DAS business. Given this, “5G + DAS” have emerged as dual growth engines, which secured stable growth of TSP business and cemented our leadership in the construction and operation of telecommunications infrastructure in China.

As of 30 June 2022, the Company was managing a total of 2.049 million tower sites, representing a net increase of 11,000 sites compared to the end of 2021. During the same period, we gained 42,000 new TSP tenants, bringing the total number to 3.302 million. Our TSP tenancy ratio also grew from 1.60 as at the end of 2021 to 1.62. With regard to our DAS business, we had covered buildings with a cumulative area of 5,970 million square meters, up by 35.4% from the same period last year, while the high-speed railway tunnels and subway coverage totaled a cumulative length of 18,276 kilometers, an increase of 26.6% over the same period last year.

In the first half of 2022, our TSP business revenue reached RMB41,345 million, up by 3.9% year-on- year, among which tower business revenue accounted for RMB38,592 million while DAS business represented RMB2,753 million, a year-on-year growth of 2.3% and 32.0% respectively.

Strengthening advantages in resources and capabilities, Two Wings business maintained the momentum of growth


The development of the digital economy and the national “dual carbon” goals have presented ample opportunities to our business. We leveraged our resources and strengths to scale up and explore new possibilities of sharing, enabling the advancement of digitalization and adoption of new energy applications in society. As a result, our Two Wings business continued to experience rapid growth. Over the first half of the year, Two Wings business recorded revenue of RMB4,010 million, a year-on- year increase of 46.5%, accounting for 8.8% of our overall operating revenue and contributing 45.4% of the incremental operating revenue.

Smart Tower business expanded industry applications and sharpened competitive edge. We seized new opportunities flowing from the rapid development of the digital economy and sped up the upgrading of “telecommunication tower” to “digital tower” by utilizing our existing site resources, localized operations and maintenance, and centralized digital platform. For Tower Monitoring service, we increased investment on research and development, launching differentiated products to meet customer needs while enhancing our digital services, with a focus on key sectors including environmental protection, forestry, agriculture and land. In the first half of 2022, Smart Tower business

recorded revenue of RMB2,584 million, representing a growth of 39.4% year-on-year. Of this, Tower Monitoring business revenue reached RMB1,584 million, accounting for 61.3% of Smart Tower business revenue.

Energy business focused on core segments and continued to scale up. We further strengthened our core business segments of battery exchange and power backup to enhance the economies of scale in Energy business as well as the quality of delicate management approach. We have deepened our penetration of the delivery and courier markets and consolidated our leadership in the battery exchange market for light electric vehicle. In addition, we offered four-in-one comprehensive solutions covering power backup, generation, monitoring and maintenance, to key industries including telecommunications, finance, healthcare and education. As of 30 June 2022, we had attained a cumulative 782,000 battery exchange users, an increase of 170,000 since the end of 2021. Energy business recorded revenue of RMB1,426 million in the first half of 2022, representing an increase of 61.3% year-on-year, among which, revenue from battery exchange business accounted for RMB802 million, or 56.2%.

Mr. Zhang Zhiyong, Chairman of China Tower said, “To capture growth opportunities in the second half of 2022, we will set a clear focus on realizing our goal of becoming a ‘world-class integrated information and communications infrastructure service provider and a highly competitive information and new energy applications provider’. This positioning will drive the development of the Company centering around sharing, service, innovation, technology and value creation, and build upon an operating system that is professional, intensive, delicate, efficient and digitalized. We will strive to sustain stable revenue growth and generate higher value for our shareholders, customers and society as a whole.”

Note 1: EBITDA is calculated by operating profit plus depreciation and amortization.
Note 2: EBITDA margin is calculated by dividing EBITDA by operating revenue, and multiplying the resulting value by 100%.
Note 3: Free cash flow is the net cash generated from operating activities minus the capital expenditures.
Note 4: Gearing ratio is calculated as net debt divided by the sum of total equity and net debt, then multiplied by 100%. Net debt is calculated as the amount of interest-bearing liabilities minus the amount of cash and cash equivalents.
Hashtag: #ChinaTower

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

About China Tower

Since its incorporation on 15 July 2014, China Tower Corporation Limited (“China Tower”) has developed into the world’s largest telecommunications tower infrastructure service provider with compelling market advantage under the national strategy of Cyberpower. The Company implements the strategy of “One Core and Two Wings”. “One core” refers to the traditional tower business and indoor Distributed Antenna System (DAS) business, which provide services to the TSPs based on site resources; while “Two Wings” refers to the Smart Tower business which mainly provides tower site resources and information services to different industries, as well as Energy business to satisfy the growing demands on innovative energy services in the society, such as battery exchange, power backup and charging. China Tower adheres to the “sharing” philosophy for business development. It promotes site co-location and provides a wide range of services to fulfill the specific needs of its customers. As of the end of June 2022, the Company’s total assets amounted to RMB313,523 million. China Tower operated and managed 2.049 million tower sites across 31 provinces, municipalities and autonomous regions in the PRC, and served over 3.521 million tenants with the tenancy ratio of 1.72.