HONG KONG SAR – Media OutReach – 9 April 2021 – The Spanish Interprofessional Sheep and Goat Meat Organization, through its European program “Luxury Lamb & Mutton. More than luxury meat” organises a culinary promotion campaign, from April 8th until the 22th in gourmet supermarkets and in the most prestigious restaurants in Hong Kong aiming to enhance the value of European lamb and conquer the most exquisite palates in this city.

Luxury Lamb & Mutton. More than luxury meat in Hong Kong.

The four City Super gourmet supermarkets in Hong Kong and six prominent restaurants are involved in this culinary promotion offering tasting of an exquisite dish made with Agnei Iberico, one of the best-known Spanish lamb. Agnei Iberico is a top-quality lamb, that comes from an ancient animal breed, native to the region of Aragón at the south of the Pyrenees, where it grows without stress in a relaxed environment to enhance their innate qualities.

The complete list of establishments involved is: Casa Pennington, La Paloma by El Willy, Monsoon, Pica Pica, Popinjays (at The Murray Hotel) and Nathan House. The campaign details can be found at the website www.luxurylamb.eu.

In addition, to publicise this initiative, a powerful digital advertising and outdoor campaign will be launched in which the country’s leading opinion leaders and influencers, as well as the most prestigious chefs, will collaborate and will be able to taste the uniqueness of Spanish lamb.

LUXURY LAMB FROM SPAIN

Spain is the leader in Europe in the production of sheep meat that currently exports to more than 70 countries. The Spanish sheep sector is committed to the search for the highest quality, always under the standards of the European Production Model, recognized for being the strictest in the world in terms of quality and food safety.

Spain has a privileged geographical location, a Mediterranean climate and a unique production system in the world, based on the use of pasture by breeding ewes and feeding lambs mainly with grain.

Spanish lamb stands out for its characteristic flavour, for its wide range of differential cuts and also for its nutritional properties. Mainly for its high content of proteins, vitamins B6 and B12 and being a source of potassium, niacin, selenium, phosphorus and zinc. In addition, by providing an adequate quantity and quality, never excessive.

The promotional program “Luxury Lamb & Mutton. More than luxury meat”, coordinated by INTEROVIC since 2018, takes place in the United Arab Emirates, Saudi Arabia, Hong Kong and Israel. In addition, it has the participation of several brands from the Spanish sheep sector such as Pastores Grupo Cooperativo, Agnei Ibérico, Murgaca, Emeat, Moralejo Selection and Spanish Lamb.

LONDON, UK – EQS Newswire – 9 April 2021 – Doctor Care Anywhere (DOC) is a fast-growing telehealth company focused on the private healthcare sector. 2020 was a transformational year for the company: it signed up major new partners, listed on the ASX, delivered triple-digit revenue and KPI growth and ended 2020 with strong balance sheet (£38.4m in net cash). We believe DOC is well placed to continue to grow by executing on management’s expansion strategy of increasing its activated customer base, developing new services and expanding into Europe and Asia. DOC currently trades at a significant discount to its peers, which we believe will narrow as the company builds up a track record on the market and executes on its growth potential.

DOC trades at 6.9x our 2021 revenue forecast on an EV/sales multiple, which is a sizable 60% discount to its peer group of global telehealth companies, which average 17.2x. However, our two-year forecast revenue CAGR of 80% is 34% ahead of the peer group average 60% growth rate. We believe this valuation discount to peers will reduce over the next 12–18 months, as DOC builds up a track record on the market and executes on its growth strategy.

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SINGAPORE – Media OutReach – 8 April 2021 – BR Metals, a leading specialist in precious metals recycling, receives 2 acclaimed business accolades in a month. On 23^rd March, the Company was awarded third ranking in this year’s Enterprise 50 (E50) Awards. It was the Company’s very first attempt at the prestigious E50 awards that recognised the top 50 Singapore-based, privately-held businesses that have contributed to building a more sustainable, resilient and inclusive nation through continuous innovation, even in these unprecedented times. Today, the Company was named one of the Top 500 High-Growth Companies Asia-Pacific 2021 – a ranking created by The Financial Times, Nikkei and Statista.

BR Metals MD, Mr Frank Chen (Left) with other award recipients at the Enterprise 50 Awards. PHOTO: BUSINESS TIMES

The E50 Awards are jointly organised by The Business Times and KPMG, sponsored by Oversea-Chinese Banking Corporation (OCBC) and supported by the Enterprise Singapore, the Singapore Business Federation and the Singapore Exchange.

The Top 500 list of Fastest-Growing Companies in Asia Pacific is a survey by The Financial Times, Nikkei and the data company, Statista. BR Metals is ranked 24^th in the top 500 list of companies in a vast region covering 13 countries and millions of companies.

BR Metals Founder and Managing Director, Frank Chen’s steadfast commitment to sustainability while not losing focus on profitability has helped the company secure its top ranking in the E50 Awards and a notable mention by Dr Tan See Leng, Singapore Second Minister for Trade & Industry, and Manpower. “BR Metals recovers precious metals such as platinum and palladium from spent materials that can be used in new products. This reduces the need to mine for new metals, minimising the environmental impact and strengthening the industry’s resilience,” Dr Tan remarked. In addition, qualitative factors including business model, productivity and innovation, management ideals and governance, market branding and presence, and liquidity and risk management are also decisive factors in BR Metals’ win.

“We are honoured to be named one of the 50 most enterprising companies in Singapore, but to rank top three in the 2020 E50 Award is both poignant and humbling, especially in these challenging times. Making it to a respectable position in the Top 500 list of Fastest-Growing Companies in Asia Pacific comes as a very pleasant and welcome surprise. The E50 Awards and this recognition validate our vision and growth strategies, and is only made possible by the fortitude and passion of our team to succeed in the sustainability realm”, said Frank Chen. “I am most grateful to the jury at E50 for recognising our efforts, our customers for their steadfast belief in us and our staff for their dedication and hard work. We will strive to do better next year,” he added.

The E50 Awards and the Top 500 list of Fastest-Growing Companies in Asia Pacific are not the only accolades BR Metals received in 2021. Earlier this year, BR Metals secured a top 10 spot in Singapore’s Fastest Growing Companies, a survey by The Straits Times and Statista for a third consecutive year.

To find out more about the Enterprise 50 (E50) Awards 2020, please visit https://www.straitstimes.com/business/companies-markets/companies-must-remain-nimble-diversify-and-create-value-to-survive

For more details about the Top 500 list of Fastest-Growing Companies in Asia Pacific, please visit https://www.ft.com/high-growth-asia-pacific-ranking-2021

To read about how BR Metals carved out a niche for itself in the precious metals recycling realm, please visit https://www.businesstimes.com.sg/hub/enterprise-50-2020/br-metals-turns-trash-to-cash

For more information about BR Metals Pte Ltd, please visit www.brmetalsltd.com

For sales enquiries, please contact + 6261 6900 or email info@brmetalsltd.com

About BR Metals Pte Ltd

BR Metals is the leader in precious metal recovery. We set high industrial standards as a trusted partner that provides responsive services and creates sustainable value for clients.

Our operations in Guangzhou and Singapore purchase, process and analyse used catalytic converter, petrol-chemical catalyst, and other scrap materials to recover platinum, palladium and rhodium as well as other precious metals. We also provide recycling and precious metal analysis service for e-scraps.

We are committed to positively contribute to clients’ growth based on flexible arrangement, fair and transparent trading without compromising our commitment to the sustainability of precious metals and other finite resources.

HONG KONG SAR – Media OutReach – 8 April 2021 –

• In March 2021, the Group achieved contracted sales of approx. RMB26.00 billion, representing a YoY increase of approx. 157% (compared to March 2020). Contracted GFA amounted to approx. 1,491,900 sq.m. and contracted ASP was approx. RMB17,400 / sq.m. in March 2021.
• In the first quarter of 2021 (from January to March), the Group achieved contracted sales of approx. RMB56.70 billion, representing a YoY increase of approx. 153%. Contracted GFA amounted to approx. 3,401,100 sq.m.. Contracted ASP was approx. RMB 16,700/sq.m. in the first quarter of 2021.
• In the first quarter of 2021, the distribution of the Group’s contracted sales:

Land Acquisition

• In March 2021, the Group completed the following land acquisitions:

Company News

• On March 1, CIFI redeemed an aggregate principal amount of approx. US$247 million of the outstanding senior perpetual capital securities which were issued on 20 December 2017. With the accumulative interest accrued to the date of redemption, the total amount paid was approx. US$254 million. The total issue size of the senior perpetual capital securities was US$300 million and at a coupon rate of 5.375%. As of 2 March 2021, this senior perpetual capital securities had been fully redeemed by the Group.
• On March 2, CIFI announced the redemption of senior notes due 2 March 2021 in full at outstanding principal amount of approx. US$240 million. Together with interest accrued to the maturity date, the total amount paid at maturity was approx. US$250 million. The senior notes were originally issued on 3 January 2019 with a coupon rate of 7.625%, and the senior notes worth US$400 million had been partly redeemed through the period.
• On March 10, CIFI issued first corporate bonds in 2021 of RMB1.448 billion at a coupon rate of 4.40% with tenor of 3+2 years, which reflected CIFI’s advantages in both onshore and offshore capital markets.
• On March 16, CIFI ranked the 1st in the “2021 China Real Estate Development Enterprise Top 10 Steady Operation” and was ranked 13th in the “2021 China Real Estate Development Enterprise Top 20 Comprehensive Strength” in the “2021 Comprehensive Strength of China Real Estate Enterprises Evaluation Results Release Conference” organized by China Real Estate Association and Shanghai E-House Real Estate Research Institute China Real Estate Evaluation Center, which the Group’s results and performance were highly recognized.
• On March 25, CIFI announced its 2020 annual results. Total profit grew by 28.7% to RMB11.9 billion which exceeding RMB10 billion for the first time of the Group. Core net profit to equity owners of the Company increased by 16.3% to a new record high of RMB8.03 billion. The Group proposed a final dividend of RMB24.3 cents (equivalent to 29 HK cents) per share, an increase of 10.8%. Total dividends for the year amounted to RMB34.1 cents (equivalent to 40 HK cents) per share with a year-on-year growth of 5.3%, while the total accumulated dividends since IPO were HK$1.84 per share.
• CIFI arranged large-scale investor live webcast presentation and several small group meetings with over 500 investors and analysts attended. After the meetings, more than 30 international and onshore investment institutions issued research reports, among which a total of 26 institutions maintained or upgraded their “BUY” rating on CIFI.
• CIFI’s first Bay Mansion project in Fujian Province, CIFI Bay Mansion·Wuyuan Bay, is located in the Wuyuan Bay area, and contains a full range of living facilities, commercial facilities, business facilities and natural resources. The project first launched on March 30 with encouraging market response, achieving contracted sales of RMB3.0 billion, reflecting the strong product capability and brand recognition of CIFI.

Disclaimer:

All information contained in this newsletter is meant for your own reference only, and is not intended to, nor should it, constitute any investment advice. Any information contained in this newsletter, including those relating to contracted sales or land bank of CIFI Holdings (Group) Co. Ltd. (the “Company”), may be subject to change as a result of changes in our development, sales and investment processes and may not be consistently reflected in our financial reports. The Company expressly disclaims any liability for any of your loss or damage howsoever arising from or in reliance upon the contents of this newsletter.

HONG KONG SAR – Media OutReach – 8 April 2021 – Whenever there is great uncertainty in the market, it is not uncommon for firms to seek out a business partner to leverage on each other’s strengths to develop new business opportunities as well as to help shoulder risks. A case in point is the famous AOL Time Warner alliance, which was billed as the ultimate combination of an online service provider with a media conglomerate, amidst the massive upheaval that occurred just as global use of the internet took off in the early 2000s’.

The deal, which was finally unwound in 2018, is widely considered the worst merger of all time.

There have also been a few success stories. The Spotify-Uber alliance gave users personalised music experience during their car rides has been said to be a win-win for both companies, at a time when Spotify was facing criticism that it failed to compensate its artists fairly. Another famous successful alliance is the partnership between Starbucks and Barnes & Noble, which allows customers to enjoy the former company’s coffee when they visit the latter’s book stores, helping the bricks-and-mortar book seller to fend off online rivals that have since become dominant in the industry.

So why do some firms that try to be stronger and perform better during difficult times by establishing alliances fail to achieve their goals? A recent research study reveals that forming alliances may not make the companies stronger together, especially when the market condition is volatile.

While prior research focused on how alliance strategies improves company performance and innovation, Ribuga Kang, Assistant Professor in the Department of Management at The Chinese University of Hong Kong (CUHK) Business School and her co-author Prof. JungYun Han at National Taiwan University looked at the impact of market uncertainty on innovation of firms involved in alliances in their latest research study Market Uncertainty, Innovation of Firms in Alliance and Alliance Partner Characteristics. In the study, Prof. Kang and Prof. Han analysed 115 firms in alliances in the pharmaceutical and biotechnical industries in the U.S. between 1990 and 2015.

According to Prof. Kang and her co-author, there are four reasons for why market uncertainty hinders innovation of companies in alliances.

First of all, partner firms may be reluctant to commit effort or resources during turbulent times because they would be more interested in protecting their own companies during these periods. Also, companies may need to renegotiate agreements due to the changing environment, which is likely to cause confrontation and conflict. Consequently, the trust and willingness to share between companies would be significantly undermined.

Secondly, a hostile business environment may lead to increased difficulty in communication between companies. As being innovative relies on the integration of knowledge and resources from companies in an alliance, the increased difficulty in communication would hinder efforts in creating new ideas.

Thirdly, companies with alliance partners may tend to overly depend on their partners instead of searching for new ideas elsewhere.

Lastly, when companies in an alliance share their concerns about the uncertainties and challenges amid volatile market conditions, they reinforce the pessimistic forecast about the market and hence would likely develop passive and defensive business strategies that would ultimately lead to low innovation.

“Just because two companies don’t seem to go together at first, doesn’t mean they aren’t a great pair. For firms seeking alliances, they should aim to form partnerships that can create synergy and be win-win to both parties,” Prof. Kang says.

Mitigating Risks

However, the study points out that there are two conditions that would help companies in alliances to mitigate the negative effect of market uncertainty on innovation. According to the study, when companies choose to partner with other firms from a different industry and a different nation, it would help them to develop diverse and useful new knowledge.

Prof. Kang explains that there are three advantages for having a partner firm in a different industry. Firstly, the partner firm would be able to supply brand new ideas and knowledge given their different industry backgrounds. Secondly, if a company has a partner firm in a different industry, the partner will provide fresh perspectives to the other firm and make it less likely that a firm would follow tired old market practices. Thirdly, if the two companies in an alliance are from different industries, they would not be in direct competition. Therefore, they would be more willing to exchange knowledge, which would result in increased innovation.

Having a partner company in another country, according to Prof. Kang, also has three benefits. The first benefit is that the foreign partner would be able to bring in non-localised knowledge and new ideas. Secondly, such a cross-border alliance provides an opportunity to learn a new mindset, different business practices and organisational cultures. Lastly, companies would be able to rely on their foreign partners for their resources and networks to broaden the business opportunities in other markets.

Innovation Quantity Vs Quality

Interestingly, the researchers found that forming alliances with companies in different industries and in different countries can influence innovation in various ways. In particular, different types of alliances have different effects on the quantity of innovation and whether the innovation generated created value by uncovering an unmet customer need or offering a new solution.

To measure the effect on innovation quantity, the research team examined the number of patents filed by a company. For the effect of the latter type of innovation, called exploratory innovation (as opposed to exploitative innovation, which focuses on meeting an already exposed customer need) the researchers looked at the number of new patents filed in different categories. The two types of patents are counted in a four-year period after a firm formed an alliance.

According to the results, forming an alliance with a partner in a different country increases the number of patents, even when the market condition is uncertain. On the other hand, having a partner firm in a different industry can increase the firm’s exploratory innovation during volatile times.

“We think that new knowledge, such as different organisational styles or cultural differences, brought by a foreign partner firm can help a firm file more patents,” Prof. Kang explains. “However, if a company wants to be really innovative, that means expanding its own boundaries, then it must get a partner firm in a different industry to get new ideas and expertise beyond its own existing knowledge stock.”

Managerial Implications

Although forming alliances is an effective business strategy for companies to pursue mutual benefits, Prof. Kang and her co-author urge companies to pay attention to the risks and challenges that market uncertainty may bring to business alliances because these risks can often outweigh the benefits.

For managers, the researchers suggest them to have a deep understanding of the impacts and risks that their firms face in a difficult business environment. This is important because if managers fail to fully understand the uncertainty they face (and considering that during poor economic conditions, a partner firm would have heightened interest to protect their own interests) an alliance would be unable to achieve meaningful innovative goals.

Based on their findings, Prof. Kang and her co-author advise managers to choose carefully an alliance partner which will allow them to best utilise each other’s expertise to develop innovative products. They also encourage managers to leave their comfort zone in finding partner firms and avoid forming alliances with firms that are close to home or with firms in the same industry, especially in highly uncertain and competitive market conditions.

Reference:

Han, J. and Kang, R. (2020), “Market uncertainty, innovation of firms in alliance and alliance partner characteristics”, European Journal of Innovation Management, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/EJIM-05-2020-0195

This article was first published in the China Business Knowledge (CBK) website by CUHK Business School: https://bit.ly/3cxxGBy.

About CUHK Business School

CUHK Business School comprises two schools – Accountancy and Hotel and Tourism Management – and four departments – Decision Sciences and Managerial Economics, Finance, Management and Marketing. Established in Hong Kong in 1963, it is the first business school to offer BBA, MBA and Executive MBA programmes in the region. Today, the School offers 10 undergraduate programmes and 18 graduate programmes including MBA, EMBA, Master, MSc, MPhil and Ph.D.

In the Financial Times Global MBA Ranking 2021, CUHK MBA is ranked 48^th. In FT‘s 2020 Executive MBA ranking, CUHK EMBA is ranked 15^th in the world. CUHK Business School has the largest number of business alumni (40,000+) among universities/business schools in Hong Kong – many of whom are key business leaders. The School currently has more than 4,800 undergraduate and postgraduate students and Professor Lin Zhou is the Dean of CUHK Business School.

More information is available at http://www.bschool.cuhk.edu.hk or by connecting with CUHK Business School on:

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