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SunMirror AG Agrees to Acquire Latitude 66 Cobalt Oy with its advanced battery metals portfolio to strengthen its position as Europe’s ‘Green Metals’ company

  • SunMirror expands business activities to Finland, one of the most attractive mining areas in the world
  • Agrees to acquire the largest exploration tenement holding in Finland, including the second largest undeveloped cobalt resource in Europe
  • Post-transaction SunMirror to hold a highly prospective portfolio of battery metals projects in Australia and Finland
  • Investor focus builds around traceable raw materials for energy, mobility and tech sectors
  • Management leverages long-standing successes at commercialising strategic commodities

ZUG, SWITZERLAND – EQS Newswire – 26 August 2021 – SunMirror AG (“SunMirror”; XETRA Vienna: ROR1; ISIN CH0396131929), a exploration company specialising in mineral resources such as gold, lithium, cobalt and other metals and minerals powering future industries, continues to successfully pursue its expansion strategy during the Covid 19 pandemic.

The Company has today announced that it has, via its wholly owned subsidiary, SunMirror Luxembourg S.A. (“SM S.A.”), agreed to acquire Finnish cobalt company Latitude 66 Cobalt Oy (“Latitude 66”) with focus on exploration and mine development with its business operations located in Finland.

Founded 4 years ago, Latitude 66 is one of the leading explorers of cobalt in Europe and controls the largest exploration tenement package of any single company in Finland, currently in excess of 9,000 square kilometres. Latitude 66’s most advanced mine development project is the fourth largest known cobalt deposit in the European Union (“EU”) and the second largest not yet in production. In addition, Latitude 66 has an extensive exploration portfolio with over 100 targets identified for further exploration.

The expected purchase price payable to the Parent will be EUR 45 million, payable in cash on closing, and SM S.A. has agreed to a 2% net smelter royalty on future production. The Board of Directors of SunMirror and the Board of Directors of Latitude 66’s parent company Latitude 66 Cobalt Limited (“Parent”) have already approved the sale of Latitude 66 to SM S.A. The conditional binding agreement in respect of the acquisition of Latitude 66 contains an alternative completion structure which, subject to satisfaction of certain conditions, provides SM S.A. with the ability to propose a takeover offer of the Parent in accordance with applicable Australian corporations laws. The completion of the acquisition of Latitude 66, or a takeover bid if one is subsequently announced by SM S.A., is subject to completion by SunMirror of a capital raising of EUR 70 million and other customary conditions.

Current resource estimate for Latitude 66’s K Camp project according to Mineral resource classification JORC is 16,490 tonnes cobalt and 725,000 oz gold contained. The average grade for cobalt is 0.064%, which is the highest of the five largest known cobalt resources in the EU, and the average gold grade is 2.7g/t. Finland is the largest refiner of cobalt and nickel in Europe and the second largest of cobalt in the world after China, which has a market share of around 80 percent. Furthermore Finland is currently the only country in the EU with mines producing Cobalt today. A fully European supply chain for batteries will significantly reduce CO2 and other emissions in the manufacturing process of electric vehicles and other batteries. Domestic supply of key battery minerals will significantly reduce strategic and geopolitical risks for European companies.

SunMirror focuses on exploration and mine developments in areas known for their high geological potential and where some of the world’s most productive mines and mineral deposits are located. SunMirror, which has prospective resource projects in Australia, with the acquisition of Latitude 66 holds a highly prospective portfolio of battery metals projects in the world’s premier mining jurisdictions. SunMirror is targeting to supply the European economy with cobalt and other raw materials and metals such as lithium from sustainable, stable and legally secure sources, while complying with laws, regulations and ESG requirements.

The EU recently affirmed, as part of the launch of its European Green Deal, which presents Europe’s new growth strategy and sets out a roadmap for achieving climate neutrality by 2050, that not having access to critical raw materials or being overly dependent on individual suppliers would undermine Europe’s ability to become an industrial leader in new technologies. In order to achieve the EU’s climate neutrality goal, it is important not to create a new dependency of these critical raw materials on uncertain third countries in terms of legal certainty, working conditions and environmental standards.

Dr. Heinz Rudolf Kubli, Member of the Board of Directors of SunMirror AG, explains his views about the acquisition’s significance:

“It is more important than ever for European industry to have direct access to raw materials for future technologies with independent supply chains. With access to highly attractive cobalt projects in Finland, SunMirror can meet the EU’s requirements for critical raw materials and contribute raw material security. Through the acquisition of Latitude 66 SunMirror is excellently positioned to provide raw materials and is thus a strategic partner for the digital transition in Europe. Our aim is to provide crucial raw materials like cobalt for battery tech, which are indispensable for the implementation of next-gen electro-mobility, and the expansion of renewable energies. We are differentiated by a transparent, traceable and sustainable framework. As a raw material supplier, we want to make our contribution to decarbonising the entire value chain, responsibly – ahead of industry peers.”

Latitude 66 is a member of the Finnish government project “BATTRACE”. This initiative is dedicated to the traceability of battery materials and the production processes used to extract metals from ores and refine them into high-quality raw materials for battery material manufacturers. SunMirror is also developing a blockchain technology solution for enhanced traceability. This will transparently document the source of raw materials and the conditions of the extraction process in a tamper-proof manner and be made available to third parties for the calculation of ESG criteria. The traceability of the raw materials ensures that the extraction of the materials is ESG-compliant and not at the expense of environmental standards, labour law and conditions or through illegal overexploitation.

For the avoidance of doubt, this announcement does not constitute an intention to make a takeover bid for the purposes of section 631 of the Corporations Act 2001 (Cth).

SunMirror has already received commitments for significant capital injections in the past and considers itself well positioned for further growth on this basis. In addition, further investors have recently expressed their interest to SunMirror with a share price close to the market price in supporting the future growth of the company.

Webcast on 27 August 2021

SunMirror AG invites media representatives and institutional investors to a conference call with accompanying presentation on the internet. Among other things, the company will explain details of the transaction and the company’s prospects.

The webcast will take place on 27 August 2021 at 09:00 am.


Interested parties can obtain the necessary access data at dkaufmann@edicto.de.

About SunMirror AG

SunMirror is a natural resources holding company with a strategic focus on traceable, responsibly sourced battery metals – the metals and minerals whose demand is driven by sustainable next-generation technologies. The company’s shares (ISIN CH0396131929) are listed on the Vienna Stock Exchange (ticker: ROR1) and the Düsseldorf Stock Exchange. For further information, please visit: www.sunmirror.com.

#SunMirror

About Latitude 66 Cobalt Limited

Australian mining company Latitude 66 Cobalt Limited with business activities in Finland is one of the leading exploration companies for Cobalt in Europe and has promising exploration and mine development projects in Finland. For further information, please visit: https://lat66.com/en

SF REIT Announces First Set of Interim Results after Listing

Operational Performance Poised to Benefit from Strong Demand for Modern Logistics and Warehousing Properties

Operational Highlights for the Reporting Period From 29 April 2021 (“Date of Establishment”) to 30 June 2021

  • Revenue and net property income for the Reporting Period were HK$50.7 million and HK$42.2 million, respectively.
  • Total appraised value of the Properties was HK$6,446.0 million as at 30 June 2021, up by 5.7% as compared to the last valuation as at 31 March 2021.
  • Steady operating performance with average occupancy rate of the Properties maintained at 95.7%.
  • Long term leases with SFH Group tenants provide high degree of income stability.
  • SF REIT will continue to work closely with SFH Group to pursue acquisition opportunities.

HONG KONG SAR – Media OutReach – 26 August 2021 – SF Real Estate Investment Trust (“SF REIT“, SEHK: 2191), the first logistics-focused REIT listed in Hong Kong, announces its first set of interim results for the period from 29 April 2021 (Date of Establishment) to 30 June 2021 (the “Reporting Period”).

SF REIT recorded a revenue and net property income of HK$50.7 million and HK$42.2 million, respectively during the Reporting Period. Income available for distribution amounted to HK$26.7 million. Total independently appraised value of the Properties was HK$6,446.0 million as at 30 June 2021, up by 5.7% as compared to the last valuation as at 31 March 2021.

Strong Demand for Modern Logistics and Warehousing Support

SF REIT’s current property portfolio comprises three properties located, respectively, in Hong Kong (the “Hong Kong Property“), Foshan (the “Foshan Property“) and Wuhu (the “Wuhu Property“) (collectively, the “Properties“). All of them are modern logistics properties comprising distribution centres equipped with automatic sorting and supply chain support facilities and located strategically within the key logistics hubs in Hong Kong and Mainland China.

SF REIT is poised to benefit from the growth of the e-commerce market in Hong Kong and Mainland China which has witnessed rising demand for comprehensive logistics and warehousing support for merchandise storage and distribution. The outbreak of the COVID-19 pandemic has also accelerated structural changes in consumers’ spending habits and retailers’ supply chain management, driving retailers and suppliers to modernise and improve their logistics facilities and capabilities accordingly.

Stable Tenant Base, High Income Stability

As at 30 June 2021, the average occupancy rate of the Properties was 95.7% with that of the Hong Kong Property, the Foshan Property and the Wuhu Property recording 92.6%, 100.0% and 97.9% respectively.

The Properties housed a total of 32 tenants, with the controlling unitholder SF Holding Co. Ltd. and its subsidiaries (collectively “SFH Group“) occupying 80.0% of the gross lettable area (“GLA“) and contribute approximately 76.6% of the total gross rental income for the Reporting Period. Approximately 86.1% of the tenants (in terms of GLA) were from the logistics sector and the remaining tenants included those from the pharmaceutical, food supply and other sectors. The Properties had a weighted average lease expiry of 4.4 years by GLA as at 30 June 2021.

As at 30 June 2021, the Hong Kong Property housed a total of 8 tenants with approximately 65.9% of its GLA leased to the SFH Group. As at 30 June 2021, the Foshan Property was substantially leased to the SFH Group which was operated mainly as a modern logistics property for regional distribution purposes while the Wuhu Property housed a total of 22 tenants, with approximately 89.1% of the property’s GLA leased to the SFH Group.

All subsisting leases to the SFH Group are for a term of five years commencing 1 May 2021 and the rent payable under these leases is fixed for each of the term, with a yearly increment of 3% to 5% depending on the location of the Property. Given certain facilities were specifically built to suit the operational needs of the SFH Group, this arrangement is mutually beneficial and provides a high degree of income stability to SF REIT.

First distribution to be paid by End of May 2022

SF REIT is required by its trust deed to distribute to Unitholders an amount of no less than 90% of SF REIT’s annual distributable income for each financial year. For the first year of its listing, as disclosed in the offering document, SF REIT intends to distribute 100% of the annual distributable income for the period from the listing date to 31 December 2021 by the end of May 2022.

Hong Kong and Mainland China Policies Expected to Drive Logistics and e-Commerce Markets

While the global economy is still clouded by the unstable pandemic situation, it is expected that favourable government policies in Hong Kong and Mainland China will continue to encourage the growth of the modern logistics property market. SF REIT will continue to work closely with the SFH Group to pursue acquisition opportunities of modern logistics properties with income and capital growth potential, be they derived from the SFH Group or from third parties, to provide sustainable returns to Unitholders and to enhance asset value.

About SF Real Estate Investment Trust

SF REIT is the first logistics-focused REIT listed in Hong Kong. SF REIT’s portfolio initially comprises three properties in Hong Kong, Foshan and Wuhu, all of which are modern logistics properties comprising distribution centres equipped with automatic sorting and supply chain support facilities, strategically located within the key logistics hubs in Hong Kong and the PRC.

#SFREIT

Dr. Ko Lai Hung, Chairman of Accel Group, was Awarded the “Outstanding Entrepreneur of Social Responsibility 2021”

Taking Lead to Give back to the Society, Integrating Business Decisions into Social Development

HONG KONG SAR – Media OutReach – 26 August 2021 – Accel Group Holdings Limited (Stock code: 1283.HK, “Accel Group” or the “Group”) is pleased to announce that, Dr. Ko Lai Hung, the Chairman and Chief Executive Officer, was awarded the “Outstanding Entrepreneur of Social Responsibility 2021” by Hong Kong Commercial Daily, demonstrating Dr. Ko Lai Hung’s dedication and contribution to the society, which is well recognized and recognized by the society.

The “Outstanding Entrepreneur of Social Responsibility 2021” is organized by Hong Kong Commercial Daily, one of the oldest Chinese-language financial newspaper in Hong Kong, and is supported by over 20 chambers of commerce and business alliances including the Chinese General Chamber of Commerce, which aims to recognize the achievements and contributions of business entrepreneurs in fulfilling their corporate social responsibilities. The assessment representatives consist of well-known political and business people, including members of the National Committee of the Chinese People’s Political Consultative Conference, the Dean of Business School from a number of local universities and colleges in Hong Kong and the Editorial Board of the Hong Kong Commercial Daily, etc., to make a comprehensive assessment of the Group’s policy, employee care, social care, environmental sustainability and value innovation, and select entrepreneurs who have made outstanding social achievements through a rigorous selection process. These rigorous selection processes and the composition of authoritative assessment representatives demonstrate the integrity and score of the awards.

The award ceremony of the “Outstanding Entrepreneur of Social Responsibility 2021” was held at InterContinental Grand Stanford Hong Kong. Dr. Ko Lai Hung, Chairman and Chief Executive Officer of Accel Group, stood out among outstanding entrepreneurs in the community for his outstanding achievements and contributions. He was recognized by all sectors of society and was awarded jointly by Mr. Kwok Chun Yau, a second-level inspector of the Economic Department of the China Federation of Trade Unions, and Dr. Allen Shi Lop-tak, BBS, MH, JP, President of the Chinese Manufacturers’ Association of Hong Kong, at the award ceremony.

The sustainable development of an enterprise is not only limited to its operation, but also needs to fulfill its social responsibilities. Dr. Ko LaiHung has spent no effort to serve the community and give back to the society for many years, from business operation to social life. In terms of corporate operation, Dr. Ko LaiHung and all staff of Accel Group have been focusing on energy saving and efficiency enhancement of electrical and mechanical engineering works. In addition, the Group established a wholly-owned subsidiary, Accel Green Building Limited, to promote clean energy, energy saving and carbon reduction related businesses. From the perspective of social sustainable development, the Group have formulated and adjusted the Group’s business decisions and directions in a reasonable manner, and integrated social responsibility into the Group’s business layout. At the same time, Dr. Ko LaiHung also played an active role in public welfare and anti-epidemic support activities, leading the staff of Accel Group to distribute anti-epidemic bags to the elderly in Tsuen Wan District, and also donated to support the anti-epidemic and Construction Industry Caring Campaign – Fight against COVID-19, and connecting the representatives of the industry to distribute anti-epidemic supplies to a few 100,000 construction workers in Hong Kong; He was also the president of the Hong Kong Pingtan Clansmen Association and was awarded the “Gold Medal for Humanity” by the Fujian Red Cross for his generous donation and donation of a large amount of anti-epidemic supplies to the frontline medical staff during the most deficient epidemic supplies. Dr. Ko LaiHung’s ability to receive the above awards would not have been possible without giving the society an opportunity for Accel Group to grow, but will also become the key pillar for Dr. Ko LaiHung to set a good example, inspiring all the staff of Accel Group towards sustainable development.

Dr. Ko Laihung, Chairman and Chief Executive Officer of the Group, said, “We are honored to receive the Honors and Awards, which brings all the efforts of the entire staff of Accel Group and the recognition from all walks of life. Today, this honor is not only an intensification but also a new start. Sustainable development is an inevitable trend in the current situation. Looking ahead, the Group will also take the responsibility of supporting the development of the society, actively explore more appropriate operation methods to promote business development, and integrate the awareness of sustainable development and social responsibility into the Group’s business strategy and culture, actively assume and perform corporate responsibility, and wish to work together with all parties to give back to the society.”

About Accel Group Holdings Limited (Stock code: 1283.HK)

Accel Group Holdings Limited (the “Group”) listed on the Main Board of the Stock Exchange of Hong Kong Limited in 2019. It is an electrical and mechanical engineering services provider with good track record. Its key customers are famous developers and architectural firms in Hong Kong. The Group has established experience in several significant construction projects for famous developers and architectural firms in Hong Kong. The Group is mainly engaged in installing electrical and mechanical facilities for various developers, including the installation of air-conditioning system, drainage system, water supply, swimming pool and fountain system, electrical and control system as well as smart electrical control system in buildings. The Group is committed to providing quality electrical and mechanical engineering services. At the same time, Accel Group continued to expand its business, and its wholly-owned subsidiaries, Accel Green Building Limited and Accel Innovative Technology Limited, are committed to creating business opportunities for the Group in terms of energy-saving environment and smart city construction.

#AccelGroup

The Grand Opening of the 2021 Nanhui Art Project – Turning Taitung into a Giant Art Museum

TAITUNG, TAIWAN – Media OutReach – 26 August 2021 – “The Nanhui Art Project-Sicevudan: Forward From Here,” has officially begun. Starting from August 2021, the indigenous villages found in the four townships of Taitung’s South Link will be home to inspiring art instillations.

Serendipity

Location: Flower field below Wangyou Valley, Jinzhen Mountain

Artist: Eric Chen/Taiwan

This year, the Nanhui Art Project is centered around Sicevudan, which means “converging with the universal source.” The Project will feature 14 groups of artists from Taiwan, Indonesia, South Africa and the US. The artists have utilized Taitung’s various natural resources while bringing together people from different backgrounds. Through this, they’ve created 14 art instillations that reflect their thoughts and feelings towards Taitung’s South Link.

Sicevudan is a Paiwan word that means “source” and “convergence.” In this case, it symbolizes art’s power to overcome ethnic and regional differences. The Project has produced different types of art instillations that complement Taitung’s stunning scenery. These 14 works have been placed at various locations along the South-Link Highway.

The Nanhui Art Project has also teamed up with indigenous villages, such as Lalaulan, Jinlun, Pacavalj and Tjuluqalju to host different activities. Local artists will share their creative experiences, host traditional handicrafts workshops, prepare indigenous meals, have singing performances and organize village tours. The Project is about more than just looking at some artwork. It’s an opportunity to get to know what makes the indigenous tribes of the South Link special.

【Tour Info】

“The Nanhui Art Project-Sicevudan: Forward From Here,”

Dates: 7/30/2021-11/14/2021

Location: The four townships of Taitung’s South Link-Taimali, Jinfeng, Dawu and Daren

Periodic updates regarding the event will be posted online. Please check back often.

Social Media

YouTube:https://www.youtube.com/channel/UCjG-AD_pnnna0K5zJICqNhg

Facebook:https://www.facebook.com/NanhuiArtProject/

Instagram:https://www.instagram.com/nanhui_art/

#NanhuiArtProject

SunMirror AG Enters into Agreement to Offer to Acquire Latitude 66

ZUG, SWITZERLAND – EQS Newswire – 26 August 2021 – SunMirror AG (“SunMirror”; XETRA Vienna: ROR1; ISIN CH0396131929), a exploration company specialising in mineral resources such as gold, lithium, cobalt and other metals and minerals powering future industries, through its wholly owned subsidiary SunMirror Luxembourg S.A. (“SM S.A.”) has entered into a conditional binding agreement with Latitude 66 Cobalt Limited to acquire 100 percent of the shares of Finnish cobalt company Latitude 66 Cobalt Oy (“Latitude 66”) from its parent company Latitude 66 Cobalt Limited (“Parent”). Latitude 66’s business focus is exploration and mine development with its business operations located in Finland.

Founded 4 years ago, Latitude 66 is one of the leading explorers of cobalt in Europe and controls the largest exploration tenement package of any single company in Finland, currently surpassing 9,000 square kilometres. Latitude 66’s most advanced mine development project is the fourth largest known cobalt deposit in the European Union and the second largest not yet in production. In addition, Latitude 66 has an extensive exploration portfolio with over 100 targets identified for further exploration.

The expected purchase price payable to the Parent will be EUR 45 million, payable in cash on closing, and a 2% net smelter royalty on future production. The Board of Directors of SunMirror and the Board of the Parent have already approved the sale of Latitude 66 to SM S.A. The conditional binding agreement in respect of the acquisition of Latitude 66 contains an alternative completion structure which, subject to satisfaction of certain conditions, provides SM S.A. with the ability to propose a takeover offer of the Parent in accordance with applicable Australian corporations laws. The completion of the acquisition of Latitude 66, or a takeover bid if one is subsequently announced by SM S.A., is subject to completion by SunMirror of a capital raising of EUR 70 million and other customary conditions.

Following successful completion of the capital raising, a takeover offer is the preferred route of SM S.A. and the Board of Directors of the Parent believe that that is the route which may provide a preferable financial outcome for its shareholders but the offer must be made in accordance with applicable Australian corporations laws via entry into a bid implementation agreement which contains the recommendation of the Board of Directors of the Parent and the dispatch of a bidder’s statement by SM S.A. to the Parent’s shareholders (and a separate offer to existing holders of performance rights in the Parent).

If a takeover offer is made and is accepted by the required majority of 90% of shares on issue which entitles SM S.A. to acquire the shares of any shareholders in Parent who do not accept the offer, their shares in Parent may be compulsorily acquired under Australian corporations laws at the same price per share payable to the shareholders who accepted the takeover offer. If a takeover offer is made which is only accepted to an extent which would not entitle SM S.A. to compulsorily acquire the shares of non-accepting shareholders, then the acquisition would proceed to completion by way of a private sale of Latitude 66 by the Parent.

If the acquisition proceeds by way of private sale of Latitude 66 by the Parent, the Parent will give SM S.A. certain warranties relating to the business and assets of Latitude 66. Warranties will not be given by the shareholders of the Parent if the acquisition completes as the result of a successful takeover offer for the Parent.

For the avoidance of doubt, this announcement does not constitute an intention to make a takeover bid for the purposes of section 631 of the Corporations Act 2001 (Cth).

Completion of the acquisition is expected no later than 30 November 2021.

Explanatory Note

SunMirror, which has prospective resource projects in Australia, expands its market presence through the acquisition of Latitude 66 and is able to supply the European economy with cobalt and other critical commodities and metals such as lithium from sustainable, stable and legally secure sources in compliance with applicable laws, regulations and ESG requirements. With the acquisition of Latitude 66, SunMirror is excellently positioned to act as a strategic partner in the future to the European economy, supplying raw materials for digital transformation.

Demand for critical raw materials such as cobalt and lithium has been growing rapidly for years. Drivers of this demand include new technological developments such as electromobility. Recently, the European Union (‘EU’) reaffirmed, as part of the launch of its European Green Deal, that a lack of access to critical raw materials or over-dependence on single suppliers would undermine Europe’s ability to be an industrial leader in new technologies. In order to achieve the EU’s goal of climate neutrality, it is important not to create new dependency on uncertain third countries for these critical raw materials in terms of legal certainty, working conditions and environmental standards.

Sunmirror has already received commitments for significant capital injections in the past and considers itself well positioned for further growth on this basis. In addition, further investors have recently expressed their interest to Sunmirror with a share price close to the market price in supporting the future growth of the company.

About SunMirror AG

SunMirror is a natural resources holding company with a strategic focus on traceable, responsibly sourced battery metals – the metals and minerals whose demand is driven by sustainable next-generation technologies. The company’s shares (ISIN CH0396131929) are listed on the Vienna Stock Exchange (ticker: ROR1) and the Düsseldorf Stock Exchange. For further information, please visit: www.sunmirror.com.

#SunMirror

Datang Announces 2021 Interim Results, Net Profit increased by over 200% to RMB211 Million

Financial Review

(RMB’000)

For the six months ended 30 June

2021

2020

Change (%)

Revenue

3,306,534

1,785,418

+85.2%

Gross Profit

1,023,937

416,448

+145.9%

Net Profit

217,049

89,971

+141.2%

Profit Attributable to Owners of the Company

244,370

72,987

+234.8%

Basic Earnings Per Share (RMB)

0.18

0.07

+157.1%

HONG KONG SAR – Media OutReach – 26 August 2021 – Chinese property developer ─ Datang Group Holdings Limited (“Datang” or the “Company”; together with its subsidiaries, the “Group”; HKEx stock code: 2117) has announced the unaudited interim results for the six months ended 30 June 2021 (the “Period”) today.

During the Period, the Group achieved encouraging results with a stable growth in revenue. Revenue increased by 85.2% year on year to RMB 3.307 billion; gross profit amounted to RMB 1.024 billion, representing an increase of 145.9% year on year. The increase in gross profit was mainly attributable to the increased number of projects delivered during the Period, which included several projects with higher gross profit. The projects have increased the gross profit margin to 31.0%, which is a 7.7 percentage points higher than the same period last year. Net profit amounted to RMB 217 million with a year-on-year growth rate of 141.2%. Profit attributable to owners of the Company increased significantly by 234.8% to approximately RMB 244 million. Basic earnings per share were RMB 0.18. The board of directors of the Company has resolved not to declare an interim dividend for the Period (2020: Nil).

In the first half of 2021, the Group followed the geographical layout of “2+1+X”, which focused on the Beibu Gulf Economic Zone, consolidated the existing layout in the urban agglomerations of the Western Taiwan Strait Economic Zone, and established a relatively stable economies of scale. Meanwhile, the Group seized the opportunity of relocating the headquarters to Shanghai, by expanding quickly in the Yangtze River Delta region, as well as successively entered core cities with economic vitality. The Group has strengthened strategic cooperation with leading companies in the industry, all of which will lay a solid foundation for the Group to become a national comprehensive real estate corporation. During the Period, the Group’s contract sales amounted to approximately RMB25.51 billion, and the contracted sales area was approximately 2.491 million sq.m..

The Group prudently adopted land acquisition methods such as public bidding, auction and listing, and by forming joint ventures, the Group obtained a total of 19 high-quality land parcels with a total planned gross floor area (“GFA”) of 2.93 million square metres (“sq.m.”), the total land reserve maintained a steady growth. As of 30 June 2021, the total GFA of the Group’s land reserve was approximately 22.00 million sq.m., among which the GFA of properties under development was approximately 20.99 million sq.m., the GFA of completed but undelivered properties was approximately 0.85 million sq.m., and the rentable GFA for property investment was approximately 0.16 million, providing sufficient support for future development.

Besides property development business, the Group has businesses in investment and operation of commercial properties and hotel operation, thus diversifying the Group’s businesses. For the six months ended 30 June 2021, the Group achieved a rental income of approximately RMB 56.1 million, representing an increase of 157.8% compared to the same period of 2020. The increase was mainly attributable to the improvement of the performance of the commercial operations. Also, the Group achieved revenue from hotel operation of approximately RMB30.1 million, representing an increase of 158.4% compared to the same period of last year. The increase was mainly attributable to the improvement in business performance of hotel.

While the performance has grown steadily in the first half of 2021, the Group’s capital structure has also been significantly optimized. As of 30 June 2021, the net gearing ratio was 47.7%, and the cash to short-term debts ratio was 1.2 times, maintaining at a stable level. The Group had sufficient cash of approximately RMB7.98 billion cash and bank balances, reflecting that the Group has sufficient working capital and is in a healthy financial position.

In view of the steady operating and financial performance, the Group obtained long-term credit ratings from various credit rating agencies for the first time. Moody’s has assigned the Group a “B2” credit rating with a stable outlook while Standard & Poor has assigned the Group a credit rating of “B” with a stable outlook.

Looking ahead to the second half of 2021, Mr. Wu Di, the chairman of the Group concluded, “the Group expects that the land market will cool down under the implementation of various policies. With the continuous strengthening of financial supervision in the real estate market, the amount of new loan facilities may be limited in the second half of the year, and mortgage interest rates in some cities will rise. The tightening of the overall credit environment may affect the sentiment of the property purchases to a certain extent. The Group will continue to uphold the principle of seeking progress while maintaining stability, maintain bottom-line thinking, and balance and predict development and risks. On one hand, we will adhere to the strategy of deploying urban agglomerations and cultivating metropolitan areas. We will remain cautious with a positive attitude, and adhere to diversified land acquisition methods. On the other hand, we will continue to focus on customers, continue to improve the quality of service and customer satisfaction. We will continue to improve the level of financial and cost management in accordance with the requirements of the capital market, while maintaining high transparency and good corporate governance, and continuously improving the operating capabilities of the Group. In addition, the Group will continue to adopt the friendly platform strategy, explore opportunities to provide equity interests to attract strategic investors, platform resources, and other ways, to promote the Company’s steady development and strengthen its core competitiveness. Finally, the Group will strive to become a high-quality listed company with sustainable development capabilities through continuous improvement of overall performance, so as to achieve a win-win situation for customers, employees, society, and shareholders.

About Datang Group Holdings Limited

Datang Group Holdings Limited is a property developer in China focused on the development of residential and commercial properties in selected economic regions. Headquartered in Shanghai, the Group has expanded its business into major regions in China, including Haixi Economic Region, Beibu Gulf Economic Zone and Yangtze River Delta Region and neighboring cities, etc. As of 30 June 2021, the Group has 142 major projects in various stages of development in major cities of The People’s Republic of China (“PRC”) and was ranked 71st among the Top 200 Real Estate Property Developers in PRC in the first half of 2021 in terms of contracted sales by CRIC, a real estate research institute in PRC. The Group’s shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited on 11 December 2020 and were included in the MSCI China Small Cap Index on 27 May 2021.

#Datang

Thai Police Fear Killer Cop Has Fled to Laos

Thai police chief Jo Ferrari may have fled to Laos
Thai police chief "Jo Ferrari" may have fled to Laos.

Thailand has requested assistance from Laos after issuing an arrest warrant for a rogue police chief believed to have tortured and killed a drug suspect.

NCS launches NEXT Cloud Centre of Excellence in Australia as part of APAC expansion

  • Expands on NCS’ presence in Australia and aims to encourage innovation collaboration between Australia and Singapore
  • Helps governments and enterprise leverage digital technologies to transform the way they operate and thrive in the digital economy
  • Aims to grow local team to 1,500 and create 500 new digital jobs

SINGAPORE – Media OutReach – 26 August 2021 – NCS today announced the launch of NCS NEXT Cloud Centre of Excellence (CoE) in Melbourne. The CoE will offer governments and enterprises greater support on accelerating their cloud initiatives. This is part of NCS’s regional expansion strategy into Australia, following the partnership with Optus Enterprise in December 2020 to bring integrated ICT and digital services to Australian clients across a wide range of industries and government sectors. The CoE will also facilitate expertise exchange and deepen collaboration between Singapore and Australia, helping both cities build up cloud expertise in a competitive talent market.

The setup of the CoE follows an earlier announcement made this year on the formation of NCS NEXT to help organisations leverage digital technologies to transform the way they operate. This would involve innovating and co-creating new applications, processes, and services with organisations to better service their end customers or stakeholders. The NCS NEXT Cloud CoE in Melbourne is part of the company’s NEXT Innovation Triangle which also includes nodes in Singapore and Shenzhen and draws on the unique strengths each city brings in terms of talent, clients, and innovation.

Andre Conti, Head of NEXT Solutions, Australia, said, “We have witnessed the increasing pace at which both public and commercial sectors in Australia are adopting a digital-first approach to transforming the way in which we live and work. Through the NCS NEXT Cloud CoE launch in Australia, Optus Enterprise and NCS can help Australian enterprises and government agencies leverage cloud-based innovations to unlock competitive advantages and enhance customer or citizen experiences. By tapping into NCS’ 40 years of experience in supporting the public sector in APAC and our strong partner ecosystem, NCS Australia will play an active role in nurturing and pushing the local ICT space forwards”.

Partnering Victoria to grow a tech ecosystem and develop talents

A Memorandum of Understanding (MOU) was also signed today at the Cloud CoE launch, with The State Government of Victoria represented by Invest Victoria as well as the Department of Treasury and Finance. This partnership leverages the CoE to promote innovation in cloud, reach new customers, drive talent development, and advance Victoria’s competitiveness in the technology sector.

With 80 per cent of Australian enterprises expected to shift to cloud-centric infrastructures and applications by the end of 2021, the launch of NCS NEXT Cloud CoE comes at an opportune time to help Australian organisations navigate the complex tech ecosystem and accelerate their cloud deployment.

Tim Pallas, Victorian Treasurer said, “Victoria is the tech capital of Australia and we’re so proud to welcome NCS to Melbourne, creating jobs and continuing our thriving reputation of innovation and excellence.”

To support the growth of the Cloud business in Australia, NCS is also committed to building the digital talent pool in Victoria, focusing on capabilities in innovation, artificial intelligence, 5G-enabled internet of things (IoT) applications, advanced analytics, and cloud. NCS aims to grow the local team to 1,500 and create 500 new digital skilled jobs over the next few years to support the needs and aspirations of the Victorian and national ICT communities.

About NCS

NCS is a leading technology services firm with presence in Asia Pacific and partners with governments and enterprises to advance communities through technology. Combining the experience and expertise of its 10,000-strong team across 49 specialisations, NCS provides differentiated and end-to-end technology services to clients with its NEXT capabilities in digital, cloud and platforms, as well as core offerings in application, infrastructure, engineering and cybersecurity. NCS also believes in building a strong partner ecosystem with leading technology players, research institutions and start-ups to support open innovation and co-creation. For more information, visit ncs.co.

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