• Following the art film STONE SKIPPING, THE BOX is the next film production of the Company’s wholly‐owned indirect subsidiary, Studio Take, founded by veteran movie producer, Song Dae‐chan
• THE BOX is scheduled to be released on 24 March in Korea and screened in 11 countries including USA, Singapore, Indonesia, Vietnam, Japan and Australia
• Directed by Yang Jung Woong, the Executive Producer of the 2018 PyeongChang Winter Olympics opening and closing ceremonies, THE BOX is EXO’s Chanyeol’s first lead acting role in a film

SINGAPORE – Media OutReach – 22 March 2021 – Spackman Entertainment Group Limited (“Spackman Entertainment Group” or the “Company” and together with its subsidiaries, the “Group“), one of Korea’s leading entertainment production groups, wishes to announce that its upcoming musical film THE BOX, produced by the Company’s indirect wholly-owned subsidiary, Studio Take Co., Ltd. (“Studio Take“), is set to be released in Korea on 24 March 2021.

THE BOX is scheduled to debut in 11 countries including USA, Singapore, Indonesia, Vietnam, Japan and Australia. The musical film will be released on 1 April 2021 in Singapore, 7 April 2021 in Indonesia and 8 April 2021 in Malaysia.

Following the art film STONE SKIPPING, THE BOX is the next film production of Studio Take, which was founded by veteran movie producer, Song Dae‐chan.

THE BOX is about the musical journey of an aspiring singer and a once popular producer.

Directed by Yang Jung Woong, the Executive Producer of the 2018 PyeongChang Winter Olympics opening and closing ceremonies, THE BOX stars EXO’s Chanyeol who plays the aspiring singer and Jo Dal Hwan who acts as the once popular producer. This is Chanyeol’s first lead role for a Korean commercial film. Jo Dal Hwan is known for his role in SECRET HEALER (2016), TRAFFICKERS (2012) and THE CON ARTISTS (2014).

THE BOX showcases a number of international hit songs, such as Billie Eilish’s BAD GUY in Chanyeol’s voice. The music director of the musical film is Ecobridge, who is the composer of Jung Yup’s NOTHING BETTER in 2008.

About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited (“SEGL” or the “Company“), and together with its subsidiaries, (the “Group“), founded in 2011 by Charles Spackman, is one of Korea’s leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea. According to Variety, Korea was the world’s fourth largest box office market in 2019, behind only North America, China and Japan.

The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations.

SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.

Production Labels

SEGL’s wholly-owned Zip Cinema Co., Ltd. (“Zip Cinema“) is one of the most recognised film production labels in Korea and has originated and produced some of Korea’s most commercially successful theatrical films, consecutively producing 10 profitable movies since 2009 representing an industry leading track record. Recent theatrical releases of Zip Cinema’s motion pictures include some of Korea’s highest grossing and award-winning films such as CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), COLD EYES (2013), and ALL ABOUT MY WIFE (2012). For more information on Zip Cinema, do visit http://zipcine.com

SEGL also owns Novus Mediacorp Co., Ltd. (“Novus Mediacorp“), an investor, presenter, and/or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time highest Video On Demand (“VOD“) sales records in Korea. For more information on Novus Mediacorp, do visit http://novusmediacorp.com.

The Company owns a 100% equity interest in Simplex Films Limited (“Simplex Films“) which is an early stage film production firm. The maiden film of Simplex Films, JESTERS: THE GAME CHANGERS (2019), was released in Korea on 21 August 2019. Simplex Films has several line-up of films including A BOLT FROM THE BLUE (working title).

The Company owns a 100% equity interest in Take Pictures Pte. Ltd. (“Take Pictures“) which produced STONE SKIPPING (2020) and shall release THE BOX and GUARDIAN (working title) in 2021 tentatively.

The Company owns a 100% equity interest in Greenlight Content Limited (“Greenlight Content“) which is mainly involved in the business of investing into dramas and movies, as well as providing consulting services for the production of Korean content. Through the acquisition of Greenlight Content, the Group’s first co-produced drama, MY SECRET TERRIUS, starring top Korean star, So Ji Sub, achieved #1 in drama viewership ratings for its time slot and recorded double digits for its highest viewership ratings. Greenlight Content was one of the main investors of MY SECRET TERRIUS.

The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST’S WAIL, a comedy horror film.

Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. We release all of our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.

Talent Representation

The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL“). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Lee Min-jung, Ko Sung-hee), UAA&CO Inc. (Song Hye-kyo, Yoo Ah-in, Park Hyung-sik), Fiftyone K Inc. (So Ji Sub, Ok Taec-yeon), SBD Entertainment Inc. (Son Suk-ku), and Kook Entertainment Co., Ltd. (Kim Sang-kyung, Kim Ji-young). Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company.

The Company owns a 100% equity interest in Constellation Agency Pte. Ltd. (“Constellation Agency“). Constellation Agency, which owns The P Factory Co., Ltd. (“The P Factory“) and Platform Media Group Co., Ltd. (“PMG“), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements and branded entertainment.

Strategic Businesses

The Company owns a 100% equity interest in Frame Pictures Co., Ltd. (“Frame Pictures“). Frame Pictures is a leader in the movie/drama equipment leasing business in Korea. Established in 2014, Frame Pictures has worked with over 25 top

directors and provided the camera and lighting equipment some of Korea’s most notable drama and movie projects including ITAEWON CLASS (2020), HOW TO BUY A FRIEND (2020), KIM JI-YOUNG, BORN 1982 (2019), FOUR MEN (2019) and ASADAL CHRONICLES (2019).

We also operate a café-lounge called Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd.

For more details, do visit http://www.spackmanentertainmentgroup.com/

• Forty per cent of surveyed small businesses increased their focus on online sales.
• More could be done to encourage uptake of mobile and digital payment options.
• Seventy per cent of businesses surveyed expect their revenue to grow in 2021.

KUALA LUMPUR, MALAYSIA – Media OutReach – 22 March 2021 – Malaysian small businesses made greater use of digital technologies in response to COVID-19, with 40 per cent increasing their focus on online sales in the past 12 months. This finding comes from a new regional small business survey by global professional accounting organisation CPA Australia.

E-commerce wasn’t the only digital technology used by small business during COVID-19. Social media was also an important tool for the sector, with over 60 per cent using it to promote their business and 55 per cent using it to communicate with customers.

“The strong connection between technology usage and business growth and the quick returns many Malaysian businesses experience when investing in technology is no doubt helping to drive this uptake. Forty-two per cent reported positive returns from their technology investment last year,” said Mr Jimmy Lai, President of CPA Australia’s Malaysia Division.

Mr Jimmy Lai, President of CPA Australia Malaysia Division

While most Malaysian small businesses offer customers new digital and mobile payment options, 61.5 per cent still receive 50 per cent or more of their sales in cash, above the regional average of 46.4 per cent.

“Small businesses may be offering limited digital and mobile payment options due to a lack of understanding about what’s available or scepticism towards these solutions. This echoes findings from CPA Australia’s 2020 Report on Business FinTech Usage Survey, that showed 31 per cent of businesses with fewer than 50 employees identified a lack of Fintech understanding among the board or senior management as a challenge to Fintech adoption.

“More can be done to assure business that digital and mobile payment options can provide better customer reach, which should contribute to recovery this year,” Mr Lai added.

Difficult financing conditions look likely to remain a concern for many Malaysian small businesses this year, with nearly 50 per cent expecting they will face problems accessing finance. These difficulties, plus an uncertain outlook are also expected to impact the solvency of many businesses, with 32 per cent anticipating it will be difficult to repay debts in 2021.

COVID-19 is likely to continue creating challenges for Malaysia’s small businesses. Developments such as the spike in infections at the start of the year are balanced by the vaccine roll-out and easing of restrictions. This suggest a more positive picture for 2021, which is supported by the survey results. About 70 per cent of respondents expect their revenue to grow this year, up from 56 per cent last year. Exporting will make an important contribution to growth, with 45 per cent expecting revenue from overseas to grow this year.

Despite the uncertainty many businesses face, over a quarter of Malaysia’s small businesses expect to innovate this year. This is a higher result than for small businesses in Australia, Hong Kong, New Zealand, Singapore and Taiwan.

“With many small businesses having a strong focus on innovation, e-commerce, good staff and improving business strategy, we are likely to see them recover quickly from COVID-19, especially in the second half of the year. Such a focus also sets them up for long-term growth.

“However, uncertainty in the economic outlook will remain an impediment to small business recovery. The government should therefore continue to play its enhanced role in supporting this fundamental sector of Malaysia’s economy in the near term,” concluded Mr Lai.

CPA Australia’s 12th annual Asia-Pacific Small Business Survey can be found here.

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 168,000 members in over 100 countries and regions, including more than 10,500 members in Malaysia. CPA Australia has been operating in Malaysia since 1956 and opened our Malaysian office in 1994. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au

The addition of the largest specialist medical imaging practice in Hong Kong to Black Spade’s investment portfolio highlights the family office’s bullish view on the healthcare sector

HONG KONG SAR – Media OutReach – 22 March 2021 – Black Spade Capital Limited (“Black Spade Capital“), the family office of the casino magnate Lawrence Ho, has announced the acquisition of iRad Medical Holding Limited (“iRad”), a Hong Kong-based diagnostic imaging practice. Following the acquisition, Black Spade Capital will be the majority shareholder of iRad.

Photo caption (From left to right)

Dr. Matthew Ngan, Chairman of iRad

Ms. Crystal Yeung, Marketing Manager of iRad

Mr. Kin Wong, CEO of iRad

iRad currently operates four radiology clinics in prime locations across Hong Kong, including in Central, Jordan and Mongkok. Moreover, the practice has a workforce of close to 100 radiologists, radiographers, nurses and supporting staff members, who provide a wide spectrum of modalities including magnetic resonance imaging (MRI), computed tomography (CT), mammography, ultrasound and X-ray. iRad will continue to be led and managed by the founding team of the medical group, while Black Spade Capital will be working closely with the iRad management on strategies for its development and market expansion.

Mr. Dennis Tam, President and CEO of Black Spade Capital, said, “We are very pleased with the acquisition. According to research conducted by Frost & Sullivan, iRad is the largest specialist medical imaging group in Hong Kong, based on revenue and market share. The growing expectations of the general public for reliable medical services present favourable opportunities for the private healthcare sector. We therefore see tremendous growth potential in iRad and will look forward to witnessing synergies between iRad and the other investments in our portfolio.”

Dr. Matthew Ngan, Chairman of iRad, said, “iRad has been committed to providing quality medical services to society for over 15 years. It is one of a select few operators in Hong Kong that offer comprehensive radiology services. Such services are exactly what is needed to alleviate the considerable pressure on the Hong Kong public healthcare system due to growing demand, and thus ensure the sustainability of the entire healthcare ecosystem in Hong Kong. Meanwhile, we are capitalizing on our strength as market leader and have been formulating development plans with Black Spade Capital that will expand our services not only in Hong Kong, but also the Greater Bay Area. We look forward to embarking on a new chapter of development with the support of Black Spade Capital.”

Mr. Kin Wong, CEO of iRad, said, “iRad is a name trusted and recognized by medical practitioners and patients alike. We are very optimistic about the market. The ageing population, greater awareness of preventive healthcare by the public and initiatives such as Public-Private Partnership program in the medical sector are all developments that will catalyse our growth. In seizing the opportunities that emerge, we will be offering all-round services from our dedicated team of radiologists who possess expertise in neuroradiology, cardiac, mammogram, prostate, musculoskeletal imaging and other related disciplines. Furthermore, by leveraging our relationship with Black Spade Capital, we will be well positioned to provide even more diversified healthcare services to serve the community.”

About Black Spade Capital Limited (黑桃資本有限公司)

Black Spade Capital Limited is an established family office that manages the private investments of Mr. Lawrence Ho. Headquartered in Hong Kong, its global portfolio consists of a wide spectrum of cross-border investments as it consistently seeks to add new projects and opportunities to its investment mix. Black Spade’s investment strategy maximizes coverage of geographic regions and sectors whilst maintaining a portfolio of diversified asset classes, ranging from equity, fixed income, medical technology, leisure and culture, green energy, real estate to Pre-IPO investments.

About iRad Medical Holding (卓智醫療控股有限公司)

iRad Medical Holding Limited is the largest specialist medical imaging practice in Hong Kong. Founded in 2006, iRad has grown to a leading diagnostic imaging platform with multiples points of service offering full-fledged imaging modalities including magnetic resonance imaging (MRI), computed tomography (CT), mammography, ultrasound and X-ray. iRad serves both public and private medical sectors and has partnered with different non-governmental organisations with an aim to make diagnostic imaging services accessible to the general public.

HONG KONG SAR – Media OutReach – 22 March 2021 – The Hong Kong Productivity Council (HKPC), with the funding support of the Innovation and Technology Fund of the HKSAR Government, joined hands with the Hong Kong Society of Artificial Intelligence and Robotics to organise the Hong Kong Forum of Artificial Intelligence and Robotics (HKFAIR 2021) on 20 March. Through the presentations and panel discussion with the participation from experts, local enterprises can grasp the latest applications and development trends of Artificial Intelligence (AI) and robotics technology to help establish the relevant technology development roadmap and smart industries in Hong Kong and the Greater Bay Area (GBA). The opening ceremony of HKFAIR 2021 was officiated by Mr Paul Chan, Financial Secretary, and Mr Alfred Sit, Secretary for Innovation and Technology.

The online opening ceremony of HKFAIR 2021 was officiated by, Mr Paul Chan, Financial Secretary (upper left), Mr Alfred Sit, Secretary for Innovation and Technology of the HKSAR Government (upper right), Professor Yang Qiang, President of HKSAIR (lower right) as well as Mr Willy Lin, Chairman of HKPC (lower left).

HKFAIR 2021 brought together leading experts in AI and information technology from Mainland China and Hong Kong, featuring six academy fellows including Professor Tan Tieniu, Member of the Chinese Academy of Sciences and Vice Minister of the Liaison Office of the Central People’s Government in the HKSAR, who along with 18 experts and representatives from world renowned companies shared on the latest development and innovative applications of AI technology covering different sectors.

In the panel discussion, all speakers highlighted that “data is the foundation for AI technology”. The epidemic has expedited digital transformation of enterprises, with more data being collected to support AI technology for precise personalised services to enhance customer experience and facilitate business expansion. Also for ‘Industry 4.0’, innovative technology, as a critical component of the smart factory, can significantly improve production process to bring about breakthrough for smart manufacturing. As the GBA opens up its market to more industries, Hong Kong enterprises are expected to possess large amount of data and application scenarios in the future, realising and facilitating the development of AI and robotics while generating vast opportunities.

Mr Willy Lin, Chairman of HKPC, said in his welcoming address, “HKPC strives to help Hong Kong businesses to achieve digital transformation with diversified R&D services, enabling enterprises to accelerate reindustrialisation with ‘Industry 4.0’ and ‘Enterprise 4.0’ so as to overcome adversity and can plan for the future. AI and robotics technology is one of the areas in the National Key Technologies Research and Development Program. Hong Kong not only possesses internationally-recognised R&D results but also plays the unique role as the ‘super connector’ in the development of GBA. All these will certainly expedite technology and industry upgrading. HKPC is also active in collaborating with local and overseas R&D organisations to promote the wider relevant applications in Hong Kong and GBA for the development of smart industries to create new impetus for the economy.”

At the opening ceremony, Professor Yang Qiang, President of HKSAIR, said, “There is no need to explain the importance of AI and robotics technology as we are at the centre of the technology revolution era. HKSAIR aims to promote the successful local application of AI and robotics industry and serve as the bridge and catalyst between the academia and industry, and between Mainland China and Hong Kong development. We hope to leverage the forum to foster closer cooperation among distinguished professors and outstanding entrepreneurs in Hong Kong and GBA, conjuring up a local AI and robotics development roadmap to sow the seeds of prosperous development and contribute towards the synergy of government planning, scientific research, product development and industrial manufacturing.”

One of the highlights of the forum was the summary presentation of the “Hong Kong AI and Robotics Technology and Economic Development Research Report”. Compiled by HKPC and HKSAIR through thorough industry interviews and surveys, the report analyses the research and application level of AI and robotics in Hong Kong to assist business planning. The full report will be released in the second quarter of this year, with five accompanying webinars to elaborate on the report content in the realms of smart city, intelligent manufacturing, smart health, smart education and FinTech for enterprises to seize on the trends and look ahead. Those interested to learn more can visit the HKFAIR 2021 website: bit.ly/HKFAIR-2021 for more details and enrol.

HKPC is committed to strengthening the technology application of AI and robotics among local enterprises. Apart from organising seminars, it is also collaborating with the internationally-renowned RWTH Aachen Campus on a number of AI and robotics-related R&D projects to promote advanced manufacturing based on the relevant technology for the continuous and long-term development of Hong Kong. In addition, HKPC is offering relevant technology courses for the industries through the “Reindustrialisation and Technology Training Programme”.

About Hong Kong Productivity Council

The Hong Kong Productivity Council (HKPC) is a multi-disciplinary organisation established by statute in 1967, to promote productivity excellence through integrated advanced technologies and innovative service offerings to support Hong Kong enterprises. HKPC is the champion and expert in facilitating Hong Kong’s reindustrialisation empowered by i4.0 and e4.0 – focusing on R&D, IoT, big data analytics, AI and Robotic technology development, digital manufacturing, etc., to help enterprises and industries upgrade their business performance, lower operating costs, increase productivity and enhance competitiveness.

The Council is a trusted partner with comprehensive innovative solutions for Hong Kong industries and enterprises, enabling them to achieve resources and productivity utilisation, effectiveness and cost reduction, and enhanced competitiveness in both local and international marketplace. It offers SMEs and startups immediate and timely assistance in coping with the ever-changing business environment, accompanying them on their innovation and transformation journey.

In addition, HKPC partners and collaborates with local industries and enterprises to develop applied technology solutions for value creation. It also benefits a variety of sectors through product innovation and technology transfer, with commercialisation of multiple market-driven patents and technologies, bringing enormous opportunities abound for licensing and technology transfer, both locally and internationally.

For more information, please visit HKPC’s website: www.hkpc.org.

HONG KONG SAR – Media OutReach – 22 March 2021 – The Board of Directors of the Company is pleased to announce the audited consolidated annual results of the Group for the year ended December 31, 2020, together with the comparative figures for year ended December 31, 2019 as follows. These consolidated financial statements of the Group for the Reporting Period have been reviewed by the Audit Committee and audited by the Company’s auditors, Deloitte Touche Tohmatsu.

In this announcement, “we”, “us” and “our” refer to the Company and where the context otherwise requires, the Group. Certain amounts and percentage figures included in this announcement have been subject to rounding adjustments, or have been rounded to one or two decimal places. Any discrepancies in any table, chart or elsewhere between totals and sums of amounts listed therein are due to rounding.

BUSINESS HIGHLIGHTS

During the Reporting Period, we have increased our drug assets to 17 in our product portfolio with full coverage of front-of-the-eye and back-of-the-eye diseases. Comparing to having only one phase III clinical trial at the time of our Listing, to date, we have further initiated five phase III clinical trails for our relevant drug candidates, and have six ongoing phase III clinical trials in aggregate. Our drug candidates target various ophthalmology fields which require urgent medical treatment, including uveitis, myopia in children, conjunctivitis, glaucoma and wet age-related macular degeneration. Our significant progress in phase III clinical trials also make us a leading company in terms of ophthalmic innovative drugs in China in terms of the number of innovative opthalmic drugs currently in phase III clinical trials registered with CDE.

During the Reporting Period, Hainan Provincial Drug Administration listed OT-401 (fluocinolone intravitreal implant), our Core Product and one of our key drug candidates, in the list of drug real-world study pilot programs (藥品真實世界研究試點名單). It is one of the first batch of pharmaceuticals that have been included drugs in RWS pilot programs. As a result, the commercialization progress of OT-401 is expected to be accelerated.

As of the date of this announcement, we have commenced a phase III clinical trial for OT-101, our self-developed low-concentration atropine, in the United States. We are planning to apply for a multi-regional phase III clinical trial in China and Europe for OT-101, which is expected to be the first international multi-regional phase III clinical trial for low-concentration atropine or its similar pharmaceuticals that includes Chinese population.

During the Reporting Period, we actively promoted OT-401, brimonidine tartrate eye drop, Ou Qin and Kangshu (康姝) and achieved a total sales revenue amounted to RMB13.1 million, representing a year-on-year growth of 6,792.6%, while our gross profit margin was 86.8% for the same year. In January 2021, the amount of monthly sales have reached approximately RMB5.0 million (unaudited). Our quarter-on-quarter compound growth rate is approximately 215.5% since the commercialization of our first drug.

As of December 31, 2020, we had 69 employees in our sales and marketing team with coverage of 267 hospitals nationwide, among which, 53 are Grade III hospitals. Our Company has primarily established a professional promotion team with extensive experience covering nationwide ophthalmology market, which further assists our Company’s commercialized products to penetrate into the hospital market in a swift manner.

As of the date of this announcement, the construction of our Suzhou manufacture site is close to completion. With a designed annual production capacity of 455 million doses, our Suzhou manufacture site is expected to commence pilot production in September 2021 with an aim to further lower product cost and increase sales profit margin.

FINANCIAL HIGHLIGHTS

We recorded adjusted loss and total comprehensive expenses of RMB276.7 million for the year ended December 31, 2020, representing an increase of RMB194.3 million from RMB82.4 million for the year ended December 31, 2019, primarily attributable to the listing expenses of RMB41.1 million as well as an increase in selling and marketing expenses establishing our commercialization infrastructure.

This adjusted loss is arrived at by deducting the IFRS loss and total comprehensive expenses of RMB2,264.9 million (2019: RMB1,325.5 million) from (i) an one-time, non-cash, IFRS fair value adjustments loss of RMB1,694.5 million for our pre-IPO preferred shares, which was subsequently converted to Shares upon Listing, and (ii) the share-based payment expenses of RMB293.6 million.

Our total revenue was RMB13.1 million for the year ended December 31, 2020, representing a significant increase from RMB0.2 million for year ended December 31, 2019, primarily attributable to the revenue generated from the commercialization and marketing of Ou Qin and brimonidine tartrate eye drop in addition to the revenue generated from the sales of OT-401 under the Boao Pilot Program. For the year ended December 31, 2020, our total revenue average quarterly growth rate was 215.5%, despite the impact of COVID-19.

Our gross profit margin, which was 86.8% for the year ended December 31, 2020, slightly decreased as compared with 94.7% for the year ended December 31, 2019. This was primarily due to the diversification of our product mix and was partly offset by lowered cost of existing product.

Our research and development expenses and capitalized development cost amount to RMB355.4 million for the year ended December 31, 2020 representing an increase of 257% from RMB99.5 million for the year ended December 31, 2019. The spending was mainly incurred from the real world study for OT 401 and multiple pivotal phase III clinical trial of our drug candidates, including OT-401, OT-101, OT-702, OT-1001, and OT-301, as well as the increased research needs of our other drug candidates.

As of December 31, 2020, we had approximately RMB2,051.8 million in bank balances and cash, which does not include the gross proceeds of HK$793.8 million from the top-up subscription of new Shares conducted by our Company in January 2021.

CORPORATE PROFILE

Overview

We are a China-based ophthalmic pharmaceutical platform company dedicated to identifying, developing and commercializing first- or best-in-class ophthalmic therapies. Our vision is to provide a world-class pharmaceutical total solution to address significant unmet ophthalmic medical needs in China. We believe our platform positions us well to achieve leadership in China ophthalmology, with a first-mover advantage over future competitors. Leveraging our platforms, we have built a strategically designed ophthalmic drug portfolio that is comprehensive, innovative and validated. To date, we had 17 drug assets in our portfolio, covering all major front- and back-of-the-eye diseases. We have five key drug candidates in phase III clinical development stage, which we believe will potentially be first- or best-in-class if approved and have significant near-term revenue potential from as early as 2022. Our product portfolio includes three of the ten ophthalmic drugs approved by the FDA since 2015 that are not yet available in China in any formulation. Additionally, our product portfolio includes three drugs that are in or near the commercial stage.

What’s Your Story? Contest winners create special powers to tackle cybersecurity issues

HONG KONG SAR – Media OutReach – March 22, 2021 – Trend Micro Incorporated (TYO: 4704; TSE: 4704), the global leader in cybersecurity, and Save the Children Hong Kong, a leading international NGO helping the most deprived and marginalised children, today announced winners of the 2020 ‘What’s Your Story?’ video contest. The annual contest aims to elevate the voices of students and engage them in addressing issues that they face on the internet, by asking them to create and submit a video to share their views.

Mr Matthew Chan (left), Business Director of Trend Micro Hong Kong, presents the award to the winner of the Open category, Tong Pak Him (middle) and Lam Lam. Eunice Yuen, the third member of the winning group, was not presented at the ceremony.

Ms Carol Szeto (left), CEO of Save the Children Hong Kong, presents the award to the winner of the School category, Li Sze Wing (middle) and Yuen Chi Ching from the Tuen Mun Government Secondary School.

Last year, students were asked the question: “How have you kept yourself safe online during the pandemic?” Video submissions were judged by representatives from Save the Children Hong Kong, Hong Kong Education City and Trend Micro, while public voting also contributes to the final score of the entries.

“Through this contest, students have shown us they are keenly aware of both the good and bad influences of the internet during the pandemic, and long to positively influence how it is used,” said Matthew Chan, Business Director of Trend Micro Hong Kong. “The special powers they came up with showed ingenuity, shed light on what they see as the most critical online problems, and emphasized their collective desire to do good. We’re grateful for all the contestants who shared such deeply personal submissions and want to congratulate the winners for their responses and effort in spreading their messages far and wide.”

“As more and more activities have been shifted to online due to the COVID-19 pandemic, children and youth are faced with increased risks of privacy, exploitation and abuse in the digital world. At Save the Children Hong Kong, we have been promoting online safety for children, parents as well as the community,” said Carol Szeto, CEO of Save the Children Hong Kong. “We are delighted to see all the great videos created by students who took part in this competition. This created an opportunity for young people to be involved in educating one another on the importance of online safety and empowered them to address issues that affect their lives.”

Tong Pak Him, Lam Lam and Eunice Yuen won the top prize in the individual category with their submission titled “Have you used public Wi-Fi?“. The two cartoon characters thoroughly discussed the threats online and suggested ways to mitigate such risks with an interesting approach.

Tuen Mun Government Secondary School students Yuen Chi Ching and Li Sze Wing earned the grand prize in the school category for their entry, “What you need to know about Cybersecurity“. Supported by their teacher, the students take on the risks posed on public Wi-Fi and introduced ways to tackle such threats.

The award for the school with the most participation went to Tuen Mun Government Secondary School, whose students submitted five entries.

First started in the United States in 2010 by Trend Micro’s Internet Safety for Kids & Families program, “What’s Your Story?” comes to Hong Kong for the first time with the full support of the Save the Children Hong Kong. The competition invites schools and individuals in Hong Kong to share personal experiences and suggestions on addressing cybersecurity issues kids and families are facing in daily life. Video submissions were judged by their ability to inspire, as well as how effectively contestants have promoted their entries via social media.

A complete list of the 2020 winners and finalists in Hong Kong, and details of the contest can be found at https://whatsyourstory.trendmicro.com.hk/.

About Trend Micro Internet Safety for Kids & Families

Founded in 2008, the mission of Trend Micro’s Internet Safety for Kids & Families is to enable and empower kids, parents, teachers, and schools around the world to make the Internet a safe and secure place for today’s youth. ISKF does this through a worldwide employee volunteer program, grants and donations to eligible organizations, strategic partnerships with organizations working to protect youth, educational programs, and a robust series of online tips and solutions for parents, educators, and youth. For ISKF’s free Internet safety tips, tools and advice, visit: https://internetsafety.trendmicro.com/.

Save the Children Hong Kong’s Commitment to Online Protection for Children

The internet has become an integral part of our lives, but has also exposed children to risks of privacy, sexual exploitation, and abuse. Through educational sessions and our Netizen Academy, a web-based resource centre which offers interactive games, social media guidance and videos, Save the Children Hong Kong helps parents, children and community members learn about online safety and potential cyber risks, to protect children from harm.

About Trend Micro

Trend Micro, a global leader in cybersecurity, helps make the world safe for exchanging digital information. Leveraging over 30 years of security expertise, global threat research, and continuous innovation, Trend Micro enables resilience for businesses, governments, and consumers with connected solutions across cloud workloads, endpoints, email, IIoT, and networks. Our XGen™ security strategy powers our solutions with a cross-generational blend of threat-defense techniques that are optimized for key environments and leverage shared threat intelligence for better, faster protection. With over 6,700 employees in 65 countries, and the world’s most advanced global threat research and intelligence, Trend Micro enables organizations to secure their connected world www.trendmicro.com.hk.

About Save the Children

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COVID-19 is a key factor that has changed employees’ views on workforce mobility

• Four Asia-Pacific countries made the list in 2020, suggesting that employees now consider a country’s COVID-19 management success as a criterion for relocation
• 44% of Singaporeans are willing to work abroad, a sharp drop compared with 79% back in 2014
• Australia, China, Taiwan and New Zealand are the top overseas destinations that Singaporeans want to work in

SINGAPORE – Media OutReach – 22 March 2021 – COVID-19 is one of the key factors that has drastically changed the way talent think about their work and mobility preferences. This is the conclusion drawn from the 2021 “Decoding Global Talent” report, which examines how the pandemic has impacted global attitudes and preferences towards working abroad. The report also finds that Singapore has leapt from the 24th position back in 2014 to become the 8th most attractive country that employees would be willing to relocate to.

A partnership between SEEK Asia, The Network and Boston Consulting Group, the report is one of the world’s largest survey on workforce mobility, involving 208,807 respondents across 190 countries. Matching over 15 million jobseekers with reputable employers across seven countries, SEEK Asia has the strongest presence in Asia’s online employment marketplace. It aims to empower hiring decision makers by offering the right expertise and tools to help them land the best candidates. The deep and timely insights from the Decoding Global Talent 2021 report will help companies to strategize their hiring plans in a challenging climate as well as allow candidates to understand key movements in the employment market.

COVID-19 has changed views on workforce mobility

When it comes to employee relocation, several Asia-Pacific countries, such as Singapore and New Zealand, have become the preferred choices of talent in 2020. In 2014, just one Asia-Pacific country — Australia — was in the top 10. The 2020 list now sees a total of four Asia-Pacific countries. This is likely due to the countries’ management of COVID-19, which have largely registered low mortality rates and kept infection cases in check.

“Since Q4 2020, we observed an average of 28% growth in job openings compared to the peak of COVID in Q2 of 2020 across the seven countries that we operate in – Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. Currently, there are more than 208,000 jobs available in our database, signaling an encouraging recovery for Asia-Pacific countries,” says Peter Bithos, CEO of SEEK Asia.

“COVID-19 has engendered a new kind of mobility — virtual mobility,” he adds. “According to the report, 57 per cent of respondents now say they are willing to work remotely for an employer that does not have a physical presence in their home countries, a level that is higher than the proportion who are open to physical relocation. Not only that, about 62 per cent of candidates who have a master’s degree are also open to virtual work. For hirers who are struggling to fill job openings, the time is ripe to warm up to the option of offering virtual employment, so as to attract competent and suitable talent.”

Singapore’s competitiveness a selling point for talent

Beyond commendable COVID-19 preparedness and response, Singapore has always been an appealing work destination for global talent. Other than robust international trade and investment, her digital infrastructure, national stability and culture of innovation also inspire confidence. The top 10 countries from where PMETs, specifically in the digital field, would like to come to Singapore to work include China (5^th), Qatar (6^th), United Arab Emirates (8^th) and Switzerland (10^th). These talent enjoy a high quality of life, and Singapore’s standard of living and working matches their home countries’.

Singaporeans’ willingness to work abroad has dropped

As the world is still in the throes of a pandemic, fewer Singaporeans are expressing a desire to seek overseas job opportunities. Back in 2014, 79 per cent of the Singaporean respondents involved in the survey then wished to work overseas. This number has dropped to 44 per cent in 2020. Australia remains the top destination where Singaporeans would like to work in. Australia is known for her work-life balance and multicultural society, which are likely the main factors that draw Singaporeans to the country.

The United States and United Kingdom were in second and third positions in 2014; now China and Taiwan have replaced the two countries respectively. New Zealand takes fourth place. The data suggests that Singaporeans are more willing to work in countries that have emerged as role models where COVID-19 management is concerned.

About JobStreet

JobStreet is a leading online job board presently covering the employment markets in Malaysia, Singapore, the Philippines, Indonesia and Vietnam.

About SEEK Asia

JobStreet and JobsDB are part of SEEK Asia, which is the leading online employment market place in Asia. SEEK Asia covers 7 countries namely Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.

SEEK Asia is the extension of the Australian Securities Exchange listed company called SEEK. The company’s purpose is to help improve people’s lives through better careers. SEEK Asia’s database consists of over 105,000 corporate hirers and over 29 million candidates.