PRC

FLJ Group Limited Entered into a Definitive Agreement to Acquire Lianlian Holdings Inc.

Retrieved on: 
Friday, September 29, 2023

SHANGHAI, China, Sept. 29, 2023 (GLOBE NEWSWIRE) -- FLJ Group Limited (NASDAQ: FLJ) (“FLJ” or the “Company”), a leading technology-driven long-term apartment rental platform in China, today entered into an equity acquisition agreement with Lianlian Holdings Inc. (the “Target Company” or “Lianlian”) and certain of the Target Company’s shareholders to acquire 95% of the issued and outstanding shares in the Target Company for an aggregate purchase price of RMB1,800,000,000 (the “Acquisition”).

Key Points: 
  • SHANGHAI, China, Sept. 29, 2023 (GLOBE NEWSWIRE) -- FLJ Group Limited (NASDAQ: FLJ) (“FLJ” or the “Company”), a leading technology-driven long-term apartment rental platform in China, today entered into an equity acquisition agreement with Lianlian Holdings Inc. (the “Target Company” or “Lianlian”) and certain of the Target Company’s shareholders to acquire 95% of the issued and outstanding shares in the Target Company for an aggregate purchase price of RMB1,800,000,000 (the “Acquisition”).
  • The purchase price will consist of cash and newly issued Class A ordinary shares of the Company, the exact portion of which will be determined by the Company at the closing of the Acquisition.
  • Upon the closing of the Acquisition, Lianlian will be a 95%-owned subsidiary of the Company.
  • If the Acquisition is not completed within 180 days after the signing of the equity acquisition agreement, either party may terminate the equity acquisition agreement.

PRC Announces 2023 Healthcare Leadership Award Recipients

Retrieved on: 
Friday, September 29, 2023

OMAHA, Neb., Sept. 29, 2023 /PRNewswire/ -- PRC, a leading provider of healthcare experience solutions, is proud to announce the recipients of the PRC 2023 Healthcare Leadership Awards.

Key Points: 
  • OMAHA, Neb., Sept. 29, 2023 /PRNewswire/ -- PRC, a leading provider of healthcare experience solutions, is proud to announce the recipients of the PRC 2023 Healthcare Leadership Awards.
  • Award recipients were announced as part of PRC's Healthcare Experience Summit on September 27.
  • "We would like to thank everyone who shared their organization's success story in a nomination and congratulate all of the 2023 award recipients."
  • 2023 PRC Healthcare Leadership Award recipients include:
    John Langlois & Christi Mayo, Riverview Regional Medical Center
    Department Level – MBMC Outpatient Lab, Missouri Baptist Medical Center

IMAX Corporation Responds to Letko's Statement on the Proposed Privatization of IMAX China

Retrieved on: 
Monday, September 25, 2023

While IMAX China's first half results are encouraging reflecting both theatre re-openings and increased box office market share, IMAX China's share price continued to exhibit weakness and its trading volume hit all-time lows throughout 2023 prior to the proposed privatization transaction despite market awareness of IMAX China's results through weekly box office reporting and the first quarter results released by IMAX Corporation on April 27, 2023.

Key Points: 
  • While IMAX China's first half results are encouraging reflecting both theatre re-openings and increased box office market share, IMAX China's share price continued to exhibit weakness and its trading volume hit all-time lows throughout 2023 prior to the proposed privatization transaction despite market awareness of IMAX China's results through weekly box office reporting and the first quarter results released by IMAX Corporation on April 27, 2023.
  • IMAX China's volume weighted average price for the 30 and 90 full trading days prior to the transaction announcement was $6.46 and $7.50.
  • The proposal provides IMAX China shareholders with HK$10.00 per share in cash, which could be reinvested in IMAX Corporation's shares for those shareholders interested in participating in the company's continued growth in China.
  • Finally, IMAX China has confirmed that it will not declare or pay any dividends before 31 December 2023, and there is no guarantee that IMAX China will declare or pay any dividends after such date.

Silicon Motion Provides Certain Details Regarding MaxLinear’s Surprise Termination of the Merger Agreement

Retrieved on: 
Thursday, September 21, 2023

TAIPEI, Taiwan and MILPITAS, Calif., Sept. 21, 2023 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NASDAQGS: SIMO) (“Silicon Motion” or “the Company”) today disclosed additional details regarding MaxLinear’s termination of its May 5, 2022 agreement to acquire the Company (the “Merger Agreement”).

Key Points: 
  • TAIPEI, Taiwan and MILPITAS, Calif., Sept. 21, 2023 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NASDAQGS: SIMO) (“Silicon Motion” or “the Company”) today disclosed additional details regarding MaxLinear’s termination of its May 5, 2022 agreement to acquire the Company (the “Merger Agreement”).
  • Upon receiving SAMR approval, Silicon Motion executives sent congratulatory messages to MaxLinear’s CFO and CEO in anticipation of officially closing the transaction following receipt of this regulatory approval.
  • Approximately 10 hours after SAMR announced its approval of the merger, Silicon Motion received the termination letter from MaxLinear.
  • MaxLinear’s purported termination and material breach of its Merger Agreement with the Company will be the subject of an arbitration for substantial damages in excess of the termination fee in the Singapore International Arbitration Centre, as provided under the Merger Agreement.

Gravitas Education Holdings Inc. Announces Special Cash Dividend in the Range of US$11.256 to US$12.17 per American Depositary Share and Reports Status of Merger

Retrieved on: 
Thursday, September 21, 2023

The aggregate amount of cash dividends to be paid ranges from US$16 million to US$17.3 million, which will be funded by cash on the Company's balance sheet.

Key Points: 
  • The aggregate amount of cash dividends to be paid ranges from US$16 million to US$17.3 million, which will be funded by cash on the Company's balance sheet.
  • The payment of the special dividend is conditional upon the Closing (as defined below), and the exact amount of such special dividend is to be determined and separately announced.
  • ADSs will trade with an entitlement to the cash dividend until the ex-dividend date is established by the New York Stock Exchange ("NYSE").
  • The said press release will be issued at least 10 days prior to the Record Date in compliance with applicable listing rules.

Niche-Tech Semiconductor Materials Limited Commits to Developing its Core Business and Leading Industry Progress

Retrieved on: 
Monday, September 18, 2023

Niche-Tech is one of the leading companies in the domestic semiconductor packaging materials industry, co-founded by Professor Stephen Chow and Dr. Felix Chow in 2006.

Key Points: 
  • Niche-Tech is one of the leading companies in the domestic semiconductor packaging materials industry, co-founded by Professor Stephen Chow and Dr. Felix Chow in 2006.
  • The main business focuses on the research and development, manufacturing, and sales of high-precision wire bonding, potting materials, adhesive materials and other high-tech materials specifically designed for semiconductor packaging.
  • With policy support and increasing demand, the semiconductor industry is experiencing a significant upswing, carrying immense potential for development.
  • As a leading player of the industry, Niche-Tech consolidates its core business development and breaks down the barriers of imported semiconductor packaging materials with technological innovation.

China.org.cn: The second Vocational Skills Competition showcase brilliant skills

Retrieved on: 
Friday, September 15, 2023

What makes the second Vocational Skills Competition stand out is the contests.

Key Points: 
  • What makes the second Vocational Skills Competition stand out is the contests.
  • Compared to the last competition, some new events that require digital technology skills have been added to this year's competition, such as smart manufacturing engineering, service robot application and VR engineering.
  • Setting new vocational skills as competition events will help them garner more attention, which brings in more opportunities for development and larger potential for employment.
  • This year, the Vocational Skills Competition already received broad attention during its preparation stage.

Focusing on the development of BsAbs in China, YZY Biopharma Announces Proposed Listing on the Main Board of SEHK

Retrieved on: 
Wednesday, September 13, 2023

The Company carefully selects potential targets for its BsAbs, and has adopted a differentiated clinical development strategy to maximize the clinical and commercial value of its drug candidates.

Key Points: 
  • The Company carefully selects potential targets for its BsAbs, and has adopted a differentiated clinical development strategy to maximize the clinical and commercial value of its drug candidates.
  • Since its establishment, YZY Biopharma focuses on the development of BsAbs in China.
  • In addition, the Company is also focusing on the development of the TME-targeted BsAbs, including Y101D and Y332.
  • Therefore, the execution of an appropriate CMC development strategy is vital to the success of the overall drug development program.

Air Marakanda announces first direct flights between Samarkand and China

Retrieved on: 
Wednesday, September 13, 2023

SAMARKAND, Uzbekistan, Sept. 13, 2023 /PRNewswire/ -- Airport management company Air Marakanda, which manages the Samarkand International Airport, has announced the opening of a new flight operated by China Southern Airlines between Urumqi and Samarkand.

Key Points: 
  • SAMARKAND, Uzbekistan, Sept. 13, 2023 /PRNewswire/ -- Airport management company Air Marakanda, which manages the Samarkand International Airport, has announced the opening of a new flight operated by China Southern Airlines between Urumqi and Samarkand.
  • The airline will be the first carrier operating flights to Samarkand from China.
  • Starting 16 Oct. it will become possible to fly to the capital of the Xinjiang Uygur Autonomous Region in northwestern China from Samarkand.
  • Dmitry Martynenko, Commercial Director for Air Marakanda, said:
    "This announcement marks a new step in the growing relationship between the People's Republic of China and the Republic of Uzbekistan.

Gravitas Education Holdings Inc. Announces Results of the Extraordinary General Meeting on September 11, 2023

Retrieved on: 
Monday, September 11, 2023

BEIJING, Sept. 11, 2023 /PRNewswire/ -- Gravitas Education Holdings Inc. ("GEHI" or the "Company") (NYSE: GEHI), a leading early childhood education service provider in China, today announced the results of the Company's extraordinary general meeting of shareholders (the "EGM") held in Beijing today.

Key Points: 
  • BEIJING, Sept. 11, 2023 /PRNewswire/ -- Gravitas Education Holdings Inc. ("GEHI" or the "Company") (NYSE: GEHI), a leading early childhood education service provider in China, today announced the results of the Company's extraordinary general meeting of shareholders (the "EGM") held in Beijing today.
  • Each Class A ordinary share is entitled to one vote, and each Class B ordinary share is entitled to ten votes.
  • These shares represented approximately 92.7% of the total outstanding votes represented by the Company's total Class A ordinary shares and Class B ordinary shares outstanding as of the record date on August 7, 2023.
  • As of the date hereof, Best Assistant has formed eLMTree and eLMTree has executed and delivered a joinder to the Merger Agreement.