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Cboe Expands Derivatives Market Intelligence Franchise into Asia Pacific with Strategic New Hire

  • Wei Liao to spearhead launch of Cboe’s market intelligence and content franchise in APAC
  • Expansion reflects growing demand for derivatives trading, data, and client education in the region
  • Initiative furthers Cboe’s continued growth of its Global Derivatives business in international markets

CHICAGO and HONG KONG, April 11, 2025 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), the world’s leading derivatives and securities exchange network, today announced the continued expansion of its Derivatives Market Intelligence team with the hiring of Wei Liao as Director, Derivatives Market Intelligence. Based in Hong Kong, Ms. Liao will lead the buildout of Cboe’s derivatives market intelligence and content franchise in Asia Pacific (APAC), with a focus on delivering high-impact, data-driven insights to clients in the region. This initiative furthers Cboe’s international expansion of its Global Derivatives business, strengthening its presence and client engagement across the U.S., Europe and APAC to meet growing demand.

Cboe’s Derivatives Market Intelligence arm delivers timely, in-depth research and analysis to help investors understand cross-asset market dynamics and the use cases of derivatives products. In her role, Ms. Liao will help expand the reach of this content to Cboe’s growing client base in APAC, as well as offer localized perspectives and bespoke analysis on regional market trends to help increase client education and adoption of Cboe’s leading suite of derivatives products – including S&P 500 Index (SPX) options, Cboe Volatility Index (VIX) options and futures, and Russell 2000 Index (RUT) options. Total volumes in Cboe’s proprietary products during its Global Trading Hours, which reflects trading activity during the U.S. overnight session, hit a record average daily volume of 124.6k contracts in first-quarter 2025, up 36% from first-quarter 2024.

“As global interest in derivatives continues to rise, investors are increasingly turning to Cboe as a source for trusted market intelligence and strategic insights,” said Mandy Xu, Global Head of Derivatives Market Intelligence at Cboe. “APAC is a key region where options and futures are gaining rapid momentum among both institutional and retail investors, and with that, we see a significant opportunity to serve this market through expanded data access and client education. With her background as a portfolio manager and trader, Wei brings deep market expertise, a seasoned practitioner’s perspective, and a client-first mindset – all of which are critical as we work to close the education gap and support the region’s next phase of growth. I’m thrilled to welcome her to the team.”

Ms. Liao brings more than 15 years of experience in macroeconomic research, trading and portfolio management at leading hedge funds. Prior to joining Cboe, she served as a Portfolio Manager at CQS Asset Management and before that, was the founder and manager of Watercourse Macro Found, a derivatives-focused hedge fund.

“I’m excited to join Cboe at a time when derivatives adoption is accelerating globally, especially in the APAC region,” said Wei Liao, Director, Derivatives Market Intelligence at Cboe. “Cboe’s Derivatives Market Intelligence group has built a reputation for its unparalleled market insights and strong commitment to client engagement – earning a wide following among institutional and retail investors, media, and other industry participants alike. I look forward to expanding on the team’s work, deepening our impact in APAC and helping our clients here navigate today’s complex markets with actionable, data-driven insights.”

To receive the latest insights and analysis from Cboe’s Derivatives Market Intelligence team, click here to subscribe.

About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE), the world’s leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX, across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.

Media Contacts

Analyst Contact

Stephanie Duncan

Angela Tu

Tim Cave

Kenneth Hill, CFA

+61 421-172-820

+1-917-985-1496

+44 (0) 7593-506-719

+1-312-786-7559

sduncan@cboe.com

atu@cboe.com

tcave@cboe.com

khill@cboe.com

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Cboe®, VIX®, and Cboe Global Markets® are registered trademarks of Cboe Exchange, Inc. S&P®, SPX® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC, and have been licensed for use by Cboe Exchange, Inc. and its affiliates (collectively “Cboe”) All other trademarks and service marks are the property of their respective owners.

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Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Investors should undertake their own due diligence regarding their securities, futures and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein. Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc. and its affiliates, to the maximum extent permitted by applicable law, make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by  recipients of the products and services described herein, or as to the ability of the S&P and Russell indices to track the performance of the general market or any segment thereof, and shall not in any way be liable for any inaccuracies or errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the S&P and Russell indices and shall not in any way be liable for any inaccuracies or errors.

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as “may,” “might,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.

We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth and strategic acquisitions or alliances effectively; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, counterparty, investment, and default risks, associated with operating our clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; our ability to maintain BIDS Trading as an independently managed and operated trading venue, separate from and not integrated with our registered national securities exchanges; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets;  the accuracy of our estimates and expectations; and  litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings made from time to time with the SEC.

 

Nobu Hospitality Announces Nobu Hotel, Restaurant, and Residences in Oman

NEW YORK, April 11, 2025 /PRNewswire/ — Nobu Hospitality, is pleased to announce the launch of Nobu Hotel, Restaurant, and Residences Muscat, the latest addition to its growing portfolio of luxury mixed-use developments in the Middle East. This new project reflects the brand’s continued evolution, combining hospitality, upscale residential living, and lifestyle amenities in one distinctive destination.

 

Introducing Nobu Hotel, Restaurant, & Residences Muscat

The development marks Nobu’s second collaboration with partner Enevoria Development, following the successful announcement of Nobu Hotel, Restaurant, and Residences Al Marjan Island. The project will be developed in partnership with the Oman Tourism Development Company (OMRAN Group), the government’s executive arm for tourism development in Oman.

Set along the pristine shores of Yiti Beach, just 28 km from Muscat city center, the new development will span over 60,000 square meters, featuring an 80-room Nobu Hotel, a signature Nobu Restaurant, full-service spa and fitness facilities, swimming pools, and a Nobu-style beach club. Complementing the resort offering will be a limited collection of branded Nobu Residences, creating an elevated beachside community that blends the elegance of Nobu living with exclusive resident benefits and unparalleled coastal views.

Oman, known for its breathtaking natural landscapes, dramatic coastline, and rich cultural heritage, offers a unique setting for the Nobu experience. From the soaring Al Hajar mountains to the crystal-clear waters of the Sea of Oman and open embrace of the Indian Ocean, the country presents a rich tapestry of history, tradition, and modern luxury – making it an ideal location for the brand’s continued growth in the region.

Nobu Hospitality’s mixed-use developments continue to gain momentum across the Middle East, with projects underway in the UAE, Egypt, and Saudi Arabia.

Since the opening of the first Nobu Hotel in Las Vegas in 2013, Nobu Hospitality has grown to encompass 46 hotels and 20 branded residences, both open and in development worldwide.

Evgeniy Yakubovskii, CEO of Enevoria Development, said:
We are absolutely delighted to continue our partnership with Nobu, resulting in a new landmark and visionary project in Muscat, Oman. Every Enevoria Development project is brought to life in collaboration with global stars in architecture, design, and hospitality. They are all united by a shared philosophy and purpose: to create an impeccable lifestyle for future residents. We are confident that Nobu Hotel, Restaurant, and Residences Muscat will be a tremendous success and a shining example of hospitality and luxury living in the Middle East.”

Trevor Horwell, CEO of Nobu Hospitality, commented:
We are incredibly proud to continue our partnership with Enevoria Development, alongside OMRAN Group, on this second landmark mixed-use project. Oman is truly a special destination, offering an extraordinary blend of natural beauty, warm hospitality, and cultural depth. We are excited to expand our global footprint and strengthen our leadership in mixed-use developments, as we embrace a new era in luxury real estate.”

www.nobuhotels.com/muscat

Location of Nobu Hotel, Restaurant, and Residences Muscat on Yiti Beach
Location of Nobu Hotel, Restaurant, and Residences Muscat on Yiti Beach

Shinsegae opens ‘The Heritage’ where culture, history, and luxury converge in the heart of Seoul

SEOUL, South Korea, April 11, 2025 /PRNewswire/ — On April 9th, Shinsegae Department Store presents ‘The Heritage,’ a new iconic culture house in Myeong-dong•Namdaemun, where Seoul’s rich history, luxury, and trends merge in a 90-year-old historical space.

Shinsegae Department Store presents a new iconic culture house 'The Heritage' in Myeong-dong, Seoul, Korea
Shinsegae Department Store presents a new iconic culture house ‘The Heritage’ in Myeong-dong, Seoul, Korea

Situated in the center of Seoul, Myeong-dong is one of Korea’s oldest and most vibrant commercial districts, attracting millions of visitors annually.

Founded in 1963 as Korea’s very first department store, Shinsegae has been showcasing the trend of Korean lifestyle for the past 62 years not just with their highly curated designer brands but also by adding values to Korean people’s lives by pioneering the concept of an in-store-art gallery in the nation.

Shinsegae Department Store has been an absolute favorite amongst millions of global customers along with Harrods(UK) and Isetan(Japan), taking the chart of No.1 leading position in the Korean department store industry by far.

With its heritage, Shinsegae has transformed a 90-year-old building—the 71st tangible cultural property of Seoul—into a vibrant cultural hub that contains historical and cultural values of Seoul after a decade of meticulous restoration.

Shinsegae has painstakingly restored every flower-shaped plaster ectype on the ceilings—an enduring masterpiece of modern Korean architecture—as it was almost 100 years ago.

A curtain wall inspired by The Morgan Library&Museum in NYC has also been added to the building’s exterior to incorporate a modern design, creating a harmony between heritage and innovation. 

In alignment with its name, ‘The Heritage’ boasts ‘House of Shinsegae Heritage’ on the 5th floor, a space dedicated to featuring Korean craft art which will mesmerize foreign visitors with Korean traditional arts and the beauty of craftsmanship.

On the 4th floor lies a museum where contemporary artifacts and archival photographs are exhibited to portray the story of Myeong-dong back in 1930s and 1950s.

On the 1st and 2nd floor, a CHANEL boutique designed by Peter Marino serves as the ultimate expression of modern luxury, blending seamlessly with the building’s historical elegance. Shinsegae is the first in the nation to incorporate a luxury brand at a place where heritage lies within the building.

Nestled within a historic landmark where Korean contemporary commerce bloomed, ‘The Heritage’ is to become the opulent heart of Seoul. Through its exhibition filled with Korean beauty and tradition, global customers can immerse themselves into the journey of old and new, past and present. 

Great Place To Work™ Greater China Celebrates the Best Workplaces for Women™ in Greater China 2025

SHANGHAI, April 11, 2025 /PRNewswire/ — On April 10th, Great Place To Work™ Greater China held the Best Workplaces for Women™ in Greater China 2025 Awards Ceremony at the China Life Conference Centre.

This ceremony aims to distinguish the awarded companies from others by fostering trustworthy organizations that bridge gaps in employees’ daily experiences. Numerous testimonials highlight that once a strong balance and female empowerment are established, we witness significant improvements in learning, innovation, collaboration, and overall excellence in workplace outcomes.

Celebrating women in the workplace is essential for creating inclusive and equitable environments. Recognizing their contributions not only highlights the diverse perspectives that drive innovation and creativity but also empowers all employees to thrive. When workplaces celebrate women’s achievements, they send a powerful message about the value of collaboration and the importance of diverse voices in decision-making. This recognition boosts morale and encourages a culture of respect and support, ultimately leading to enhanced performance and success for the entire organization.

Embracing and celebrating women’s input is not just a recognition of individual accomplishments; it is a commitment to a more balanced and dynamic workplace for everyone.

“We recognize that celebrating the achievements of women isn’t just the right thing to do, it’s a business imperative. Their diverse perspectives, innovative thinking, and unwavering dedication are intrinsic to the success of any organization. We are committed to fostering an environment where every woman feels empowered to reach her full potential because when women thrive, the whole company thrives.” –Jose Bezanilla, CEO of Great Place To Work™, Greater China.

Keynote Speech- a highlight of the event.

Ms. Lilian Meng, Associate VP – HR Head, Mainland China, Hong Kong & Mongolia of VFS Global, inspired everyone by sharing firsthand some of her company’s unique programs and practices that foster trust and excellence. From speaking of what the experience is like being a woman of her position, to allowing the audience to understand the trials entailed in overcoming challenges specific to her gender at work, Ms. Meng hopes to continue working to ensure a better workplace culture for all, that celebrates this diversity.

These are the winners of the Best Workplaces for Women™ in Greater China 2025
We celebrate you!

AbbVie Greater China
Accenture
Adobe
Align Technology China
Allianz China
American Express International, Inc.
Atomy China
Brown-Forman Greater China
Cadence
Capella Hotels and Resorts
Cisco
Coats China
DB Schenker
DHL Express
DHL Global Forwarding, China
DHL Supply Chain Taiwan
DKSH
DOW
ESAB China
Ethypharm China
eyebuydirect
Fonterra
Hilti(Shanghai)Ltd
Hilton
IGT Solutions
IHG Hotels & Resorts
Kerry China
Li & Fung
Mandarin Oriental Hotel Group
Marriott International
Mastercard
Mayoly China
Medela Greater China
Metlife
Royal FrieslandCampina China
SAP
SC Johnson
Sephora China
Servier China
Shanghai Totole Food Ltd. 
Siemens Healthineers
SKF China
Standard Chartered GBS China & GBS Guangzhou
Stryker China Commercial / Stryker (Suzhou) Medical Technology Co., Ltd
Swire Coca-Cola HK 
Synopsys China
Tapestry 
Tata Communications
Teva Pharmaceutical
TP
VFS Global
Watts China 
Zurich Insurance

The Core Findings

This year, we award 53 organizations as the Best Workplaces for Women™ in Greater China 2025, with an impressive average Trust Index score of 92.08% out of 75,643 collected responses, and an average Inclusion Index of 89.96%.

These awarded organizations come from 10+ different industries, with Manufacturing & Production, and Information Technology accounting for the greatest proportion.

The strongest statements collected were:

“I would strongly endorse my company to friends and family as a great place to work”: 92.4%.

“This is a psychologically and emotionally healthy place to work”: 90%.

“Management does a good job of assigning and coordinating people”: 90.1%.

Great Place To Work™ Greater China celebrates the vital role of women in the workplace, recognizing their contributions and leadership in driving innovation and inclusivity across all sectors.

About the Best Workplaces for Women™ in Greater China List

Best Workplaces for Women™ in Greater China is an accreditation standard which recognizes those top organizations that, while providing a great work environment to all employees, are also creating positive and supportive workplaces for women, in particular developing and promoting practices that make sure women in the workplace have a fair and positive work experience, and have the opportunity to contribute to the success of the business while they develop their talents personally and professionally.   

The objective of publishing the list is to acknowledge organisations and Great Workplaces from diverse industries and sizes that deliver and establish great workplace cultures for women and among the colleagues and associates, to sustain and enhance the competitive edge of the region. 

About Great Place to Work™ Greater China

Great Place to Work™ is the global authority on high-trust, high-performance workplace cultures that provides executive advisory and culture consulting services to businesses in more than 170 countries and regions, through proprietary assessment tools, benchmarks, and certification programs. In Greater China, we work with different media partners to publish our lists namely, the ‘Best Workplaces™ in Greater China‘ list, a special list of ‘Best Workplaces for Women™ in Greater China‘ list, the ‘Best Workplaces™ in Hong Kong‘ list and the ‘Best Workplaces™ in Taiwan‘ list. In the US, we work with Fortune Magazine to publish the 100 Best Companies to Work For® list.

Follow Great Place To Work™ Greater China 
www.greatplacetowork.cn  
Join the community on LinkedIn, Twitter, Facebook, and 
WeChat ID: greatplacetowork 

Contact: Marissa ReyesMarissa.Reyes@greatplacetowork.com 

 

LUCKIN COFFEE CELEBRATES EARTH DAY IN COLLABORATION WITH OATLY

Luckin Coffee has also unveiled three new drinks using OATLY’s Barista Oat Drink as part of this collaboration.

SINGAPORE, April 11, 2025 /PRNewswire/ — Luckin Coffee is excited to announce its partnership with OATLY to launch a delightful range of new oat beverages – the Pistachio Oat Latte, Yirgacheffe Oat Latte & Yirgacheffe Oat Flat White in celebration of Earth Day. 

Luckin Coffee Oat Reserve Collection
Luckin Coffee Oat Reserve Collection

Indulge in the Pistachio Oat Latte: A New Flavour Harmony
Savour the new Pistachio Oat Latte, a nutty blend of premium pistachios and cashews, combined with OATLY Barista Edition Oat Drink for an earthy, sweet indulgence. Enjoy a moment of pure delight, where the rich, layered nuts are perfectly blended to balance with the smooth, oat drink.

Luckin Coffee Pistachio Oat Latte
Luckin Coffee Pistachio Oat Latte

Yirgacheffe Oat Latte & Yirgacheffe Oat Flat White: Oatsome Brew for Earth
Experience the smooth, light texture of Yirgacheffe Oat Latte and Oat Flat White. Crafted with the OATLY Oat Drink Barista Specialty, these beverages offer dairy-free options for those who prefer a plant-based lifestyle. Every sip delivers the nuanced flavour of Yirgacheffe SOE beans, celebrated as a Platinum Medal winner at the IIAC International Coffee Tasting Competition 2023 (Upland #A formula).

“SOE” typically refers to single-origin espresso, a type of premium coffee with a flavour profile shaped by the unique climate in which it was cultivated. The soil, altitude, and environmental conditions of each region create distinct characteristics, meaning no two SOE coffees will ever taste exactly the same. From nutty and chocolatey notes to fruity and floral aromas, Luckin Coffee’s SOE beans offer an unparalleled coffee experience. The Yirgacheffe Oat Latte & Yirgacheffe Oat Flat White are pure indulgence for coffee lovers, offering a delicate, floral, and citrusy flavour with a clean, bright acidity that makes each sip a refreshing delight.

Your OATSOME Style: Exclusive Badge Set with Bundle
From 11 to 25 April 2025, or while stocks last, collect the limited-edition OATSOME Badge Set with every purchase of the OATSOME Bundle, priced at $10 for 2 selected drinks, at any Luckin Coffee’s store across Singapore. Each set features varied designs, a meaningful way to show your pledge for a healthier planet! Enjoy your favourite drinks by Luckin Coffee while adding an OATSOME unique piece to your collection! For more information, please refer to Annex A.

Luckin Coffee Oatsome Bundle
Luckin Coffee Oatsome Bundle

OATSOME WEEKEND – An Earth Day Pop-up
To celebrate the launch, an Oat-Venture pop-up event awaits at Suntec City on 19 and 20 April 2025. Visitors can explore small, meaningful ways to embrace sustainability through interactive activities—and also have the chance to win a special kit by participating in the plinko game or discover how Luckin Coffee’s and OATLY’s packaging can be effectively recycled to help minimise waste in our communities.

Beyond sustainability, visitors can capture fun moments at our themed photo zone, enjoy exciting games, and redeem exclusive limited-edition Luckin Coffee x OATLY merchandise—available only at the pop-up!

Take a sip towards a greener future with the Luckin Coffee x OATLY collaboration, creating a delicious step towards a more sustainable lifestyle! Treat yourself to award-winning beans and plant-based goodness at a Luckin Coffee’s outlet near you.  Join us to make this Earth Day memorable as we sip, learn, and celebrate our commitment to a better planet!

– END –

About Luckin Coffee

Luckin Coffee Inc. (OTC: LKNCY) has pioneered a technology-driven retail network to provide coffee and other products of high quality, high convenience and high affordability to customers. Empowered by proprietary technologies, Luckin Coffee pursues its vision to build a world-class coffee brand and become a part of everyone’s daily life. Luckin Coffee was founded in 2017 and is based in China. For more information, please visit www.luckincoffee.com/.

 

Paranovus Entertainment Technology Limited Received Nasdaq Notification Letter Related to Late Filing of Form 6-K Reporting Interim Financial Information

NEW YORK, April 11, 2025 /PRNewswire/ — Paranovus Entertainment Technology Limited (“PAVS” or the “Company”), (NASDAQ: PAVS) announced today that it has received a letter from the Nasdaq Stock Market LLC (“Nasdaq”), dated April 9, 2025 (the “Deficiency Letter”), notifying the Company that it is not in compliance with the requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(2) because it did not timely file its Form 6-K (the “Filing”) for the period ended September 30, 2024, reporting interim financial information for the six-month period there ended.

In accordance with Nasdaq Listing Rules, the Company has 60 calendar days from the date of the Deficiency Letter to submit a plan to regain compliance with Nasdaq Listing Rules (the “Compliance Plan”). If Nasdaq accepts the Compliance Plan, Nasdaq may grant the Company an exception of up to 180 calendar days from the Filing’s due date, or until September 29, 2025, to regain compliance. The Company intends either to file the required Filing or submit the Compliance Plan within the prescribed 60-day period.

The Deficiency Letter has no immediate impact on the listing of the Company’s Class A ordinary shares on the Nasdaq Capital Market.

This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

About Paranovus Entertainment Technology Limited

Paranovus Entertainment Technology Ltd. focuses on the development of AI-powered entertainment products, including AI-driven games and applications, as well as TikTok-related e-commerce solutions through its subsidiary. The Company is committed to delivering immersive and engaging experiences through innovative AI and digital commerce platforms.

In March 2025, the Company completed the acquisition of the controlling equity interests of Bomie Wookoo Inc., a New York company that offers e-commerce solutions. As part of its strategic transformation, Paranovus has exited its legacy businesses, including the e-commerce, internet information, and advertising businesses in September 2023 and ceased its automobile sales business in July 2024.

For more information on our latest innovations and developments, visit https://www.pavs.ai/.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company’s goals and strategies; the Company’s future business development; the Company’s future acquisition opportunities; the Company’s ability to identify any acquisition opportunities that fit with our business strategies; the Company’s ability to consummate an attractive acquisition and realize the benefits of such transaction; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic, the COVID-19 outbreak and its impact on our operations and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Health In Tech Announces Appointment of Sanjay Shrestha to Board of Directors

STUART, Fla., April 11, 2025 /PRNewswire/ — Health In Tech (Nasdaq: HIT), an Insurtech platform company backed by third-party AI technology, is pleased to announce the appointment of a new independent director, Sanjay Shrestha, to the Company’s Board of Directors (the “Board”). Mr. Shrestha will serve as a member of the Audit Committee, Compensation Committee and the Nominating and Corporate Governance Committee of the Board.

“We are pleased to welcome Sanjay Shrestha to our Board of Directors,” said Tim Johnson, Chairman & CEO of Health In Tech. “Sanjay brings a wealth of experience leading growth strategies in the energy and technology sectors. His leadership in scaling platform businesses and deep understanding of emerging technologies will provide valuable perspective as the Board continues to support Health In Tech’s vision to remove friction from the U.S. healthcare system through vertical integration, automation, and digital innovation.”

Mr. Shrestha currently serves as President of Plug Power, having joined the company in 2019 as Chief Strategy Officer. He has played a pivotal role in driving growth and expanding value for both customers and shareholders as Plug advances its leadership in the green hydrogen economy. As General Manager, he significantly broadened the company’s product portfolio and built out the Energy business to deliver end-to-end solutions—including electrolyzers, liquefiers, and cryogenic systems—while overseeing the development of Plug’s hydrogen production facilities.

Earlier in his career, Mr. Shrestha spent seven years as Global Head of Renewables Research at Lazard Capital Markets, where he was named to the Institutional Investor All America Research team and ranked among the top five global stock pickers. Prior to that, he built the renewables and industrial research practice at First Albany Capital, where he earned recognition as the No.1 stock picker and earnings estimator by StarMine and Forbes Magazine. He currently serves as an independent director on the board of Fusemachines, an AI company, and holds an Honorary Doctorate from Saint Rose College.

Use of ForwardLooking Statements

Certain statements in this press release are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include estimates or expectations about Health In Tech’s possible or assumed operational results, financial condition, business strategies and plans, market opportunities, competitive position, industry environment, and potential growth opportunities. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “design,” “target,” “aim,” “hope,” “expect,” “could,” “intend,” “plan,” “anticipate,” “estimate,” “believe,” “continue,” “predict,” “project,” “potential,” “goal,” or other words that convey the uncertainty of future events or outcomes. These statements relate to future events or to Health In Tech’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause Health In Tech’s actual results, levels of activity, performance, or achievements to be different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Health In Tech’s control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Health In Tech’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to Health In Tech’s operations, results of operations, growth strategy and liquidity.

About Health In Tech

Health In Tech (Nasdaq: “HIT”) is an Insurtech platform company backed by third-party AI technology, which offers a marketplace that aims to improve processes in the healthcare industry through vertical integration, process simplification, and automation. By removing friction and complexities, we streamline the underwriting, sales and service process for insurance companies, licensed brokers, and TPAs. Learn more at healthintech.com.

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Heng Ren Partners Calls on Sinovac to Disclose the Record and Payment Dates of the Special Dividend and Distribute an Additional Dividend of $41 per Share

BOSTON, April 11, 2025 /PRNewswire/ — Sinovac Biotech Ltd. (NASDAQ: SVA) shareholder Heng Ren Partners, LLC sent a letter on April 8, 2025, to Sinovac’s Board calling on the Board to disclose the record and payment dates of the special cash dividend announced on April 1, 2025.  More than a week after the dividend announcement, these simple and essential details oddly remain undisclosed.  Heng Ren previously sent the Board a letter on March 19, and received no response.  The April 8 letter urges Sinovac to pay an additional dividend of $41 per share, which would pay shareholders a total of $96 per share and leave Sinovac with more than $1.3 billion net cash on hand – an amount more than sufficient for Sinovac’s operating needs.  Heng Ren encourages like-minded shareholders to visit https://www.hengreninvestment.com/sinovac-fairness/ and contact Sinovac directly.

The full text of the letter follows:

April 8, 2025

Dear Board of Directors:

I write on behalf of Heng Ren regarding our March 19, 2025 Shareholder Demand for Cash Distribution and Inspection of Books and Records (the “Shareholder Demand“) and the Company’s press release dated April 1, 2025 (the “Press Release“), in which the Board announced a special cash dividend of US$55.00 per common share (the “Dividend“).1  Specifically, the Press Release stated that the Board expects to “fund the Dividend from available cash resources of the Company and its subsidiaries, including prior distributions from Sinovac Life Sciences Co., Ltd. and other operating subsidiaries of the Company.”  Heng Ren also notes that the Board announced that the “Dividend is intended to provide [Company] shareholders with their appropriate share of these prior distributions from the Company’s subsidiaries.”

Heng Ren is encouraged that the Board has announced the Dividend, which is consistent with its fiduciary obligations to allow shareholders finally to receive some benefit of their investment in Sinovac.  But more is required.  In order to increase transparency and trust, and ensure that Sinovac shareholders receive the benefit of their investment, the Board must immediately disclose the exact timing of the record and payment dates, and mechanics for the payment of the announced Dividend. This disclosure is especially critical given that shareholders still are unable to trade their shares due to the continued trading halt on the Nasdaq. The Board should also provide an update this week on the status of the resumption of trading of Sinovac’s stock as it is of critical importance to all shareholders. 

Furthermore, even after paying the Dividend, the Company still will be holding more than $6.3 billion in net cash and cash equivalents.  We see no rational business reason for the Company to continue to sit on that much cash.  The time to distribute the cash is now.  Therefore, the Board must not only cause the Company to pay the Dividend, but also cause the Company to pay an additional special dividend of $41 per share.  Such a dividend payment would leave the Company with more than $1.3 billion net cash on hand, an amount well above its operating needs. 

The issue of excess cash and its distribution is not only a matter of interest to shareholders like us. It also is of interest to the U.S. Securities and Exchange Commission (SEC).  As Heng Ren referenced in its letter dated March 19, 2025, in the correspondence from the SEC’s Division of Corporate Finance to Sinovac dated June 26, 2023, the SEC specifically asked the Company to describe “any restrictions and limitations on [its] ability to distribute earnings from the [C]ompany . . . to U.S. investors.”  In response, Sinovac did not identify any limitations on its ability to make distributions to investors, but simply stated it had no intention of distributing dividends in the near future.  At that time, the Company was sitting on more than $10.0 billion in net cash or cash equivalents.  This action (or inaction) precluded Sinovac’s shareholders from benefiting from the billions of dollars in cash that their investment had created.

Without a clear timeline on the payment of the announced $55 cash dividend, and Sinovac’s problem of excess cash still unaddressed, from a shareholders’ perspective the situation hasn’t changed since 2023 when the SEC sent its inquiry to Sinovac.

As demonstrated by the Company’s June 30, 2024 financial report, Sinovac’s cash on hand – without any revenue or operating cash flow, and after distribution of the $55 cash dividend –would finance nearly nine years of capital expenditures.

Sinovac can responsibly distribute not only the $55 cash dividend, but an additional special dividend of $41 per share.  The board and shareholders all should be aligned and in agreement for the distributions. These distributions pale in comparison to the opportunity cost of Sinovac’s shares being halted from trading when the Company’s value peaked in 2021. Long-oppressed shareholders now are entitled to receive this cash.

Heng Ren reiterates its previous demand to inspect and to make copies or extracts from, the books and records set forth in Section II.C (Parts 1-9) of its Shareholder Demand.

About Heng Ren:

Heng Ren Partners is a Boston-based asset management firm investing in Chinese companies.  Ropes & Gray LLP is serving as its legal counsel.


     Any shareholder may obtain additional information or contact Heng Ren     

at https://www.hengreninvestment.com and click “Sinovac Fairness.”

1 Capitalized terms undefined herein shall have the same meanings ascribed to them in the Shareholder Demand.