State Administration for Market Regulation

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

Retrieved on:

Thursday, September 21, 2023

MAE, SIMO, Tripura Merger Agreement, MaxLinear, State Administration for Market Regulation, Silicon, Mergers and acquisitions, Acquisition, Motion, SAMR, Silicon Motion, Singapore International Arbitration Centre, Letter, Lease, PRC

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.

Silicon Motion Repudiates MaxLinear’s Allegations and Intends to Enforce Merger Agreement

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Thursday, July 27, 2023

Silicon Motion, State Administration for Market Regulation, Silicon, MXL, SIMO, Motion, MaxLinear, Ceramic, Lease

TAIPEI, Taiwan, July 27, 2023 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NASDAQGS: SIMO) (“Silicon Motion”) today announced that Silicon Motion and MaxLinear, Inc. (NASDAQGS: MXL) (“MaxLinear”) received antitrust approval from the State Administration for Market Regulation in the People’s Republic of China (“SAMR Approval”) in relation to the proposed merger between Silicon Motion and MaxLinear (the “Merger”).

Key Points:

TAIPEI, Taiwan, July 27, 2023 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NASDAQGS: SIMO) (“Silicon Motion”) today announced that Silicon Motion and MaxLinear, Inc. (NASDAQGS: MXL) (“MaxLinear”) received antitrust approval from the State Administration for Market Regulation in the People’s Republic of China (“SAMR Approval”) in relation to the proposed merger between Silicon Motion and MaxLinear (the “Merger”).
After receiving SAMR Approval, Silicon Motion received a notice of purported termination of the Merger from MaxLinear, and Silicon Motion issued the following statement in response:
“MaxLinear’s eleventh-hour purported termination of its merger agreement with Silicon Motion is invalid and reflects a repudiation of MaxLinear’s obligations rather than any failure of Silicon Motion’s conditions to closing.
In the 15 months since the signing of the merger agreement between the parties, Silicon Motion worked cooperatively with MaxLinear to obtain regulatory approvals for the merger, Silicon Motion complied with its obligations under the agreement and Silicon Motion has not suffered a material adverse effect.
Silicon Motion expects MaxLinear to abide by its obligation under the merger agreement and intends to vigorously enforce its rights under the merger agreement.”

Nam Tai Property’s Leadership Obtains Corporate Chops and Business Licenses for PRC Subsidiaries

Retrieved on:

Monday, June 5, 2023

Commercial Building & Real Estate, Construction & Property, State Administration for Market Regulation, PRC, Record, Cyprus Securities and Exchange Commission, Administration, Book, Law, Property management, Security (finance)

Nam Tai Property Inc. (OTC Expert Market: NTPIF) (“Nam Tai” or the “Company”) today announced that its reconstituted Board of Directors (the “Board”) and new management team have lawfully obtained the corporate chops and business licenses for all of the Company’s subsidiaries in the People’s Republic of China (“PRC”).

Key Points:

Nam Tai Property Inc. (OTC Expert Market: NTPIF) (“Nam Tai” or the “Company”) today announced that its reconstituted Board of Directors (the “Board”) and new management team have lawfully obtained the corporate chops and business licenses for all of the Company’s subsidiaries in the People’s Republic of China (“PRC”).
This was achieved with the support of Nam Tai’s independent legal counsels and advisors led by Jack Law of Hui Zhong Law Firm.
The Company is now in the process of registering its Chief Executive Officer, Yu Chunhua, as the Legal Representative for its subsidiaries with the Administration for Market Regulation of the PRC.
“Our reconstituted Board and new leadership team are pleased to have obtained the corporate chops and business licenses in a lawful, orderly manner.

McDermott Adds Prominent Antitrust Partner to Regulatory Practice in Washington, DC

Retrieved on:

Wednesday, May 17, 2023

WASHINGTON, May 17, 2023 /PRNewswire/ -- International law firm McDermott Will & Emery is pleased to welcome antitrust partner Ryan Tisch to the firm's regulatory practice in Washington, DC.

Key Points:

WASHINGTON, May 17, 2023 /PRNewswire/ -- International law firm McDermott Will & Emery is pleased to welcome antitrust partner Ryan Tisch to the firm's regulatory practice in Washington, DC.
"Global antitrust activity is at an all-time high, with the FTC and DOJ implementing assertive, difficult-to-navigate enforcement policies that are increasing uncertainty in the regulatory space," said Ray Jacobsen , global head of McDermott's Antitrust Practice Group.
Ryan's addition further strengthens our leading antitrust capabilities, providing clients with innovative, winning strategies across the spectrum of regulatory issues."
McDermott has an impressive track record as a leader in the antitrust sector, and I have long admired the depth and breadth of its regulatory practice.

J&T Express and SF Express reach agreement to acquire 100% share rights of Fengwang Express for RMB 1.183 billion

Retrieved on:

Friday, May 12, 2023

Transfer, J&T Express, State Administration for Market Regulation, Acquisition, Shenzhen, RMB, Concentration, Retail

J&T Express' subsidiary J&T Express (Shenzhen) Supply Chain Co., Ltd. will acquire 100% share rights of Fengwang Holding's wholly-owned subsidiary, Shenzhen Fengwang Information Technology Co., Ltd. ("Fengwang Information"), for RMB 1.183 billion.

Key Points:

J&T Express' subsidiary J&T Express (Shenzhen) Supply Chain Co., Ltd. will acquire 100% share rights of Fengwang Holding's wholly-owned subsidiary, Shenzhen Fengwang Information Technology Co., Ltd. ("Fengwang Information"), for RMB 1.183 billion.
J&T Express has been making significant strides in the e-commerce express delivery sector since its entry into the Chinese market in 2020.
Shenzhen Fengwang Express Co., Ltd. ("Fengwang Express") is a wholly-owned subsidiary of Fengwang Information.
will continue to build e-commerce express delivery products and services and meet the diversified needs of customers in the high-end express delivery market.

J&T Express and SF Express reach agreement to acquire 100% share rights of Fengwang Express for RMB 1.183 billion

Retrieved on:

Friday, May 12, 2023

Transfer, J&T Express, State Administration for Market Regulation, Acquisition, Shenzhen, RMB, Concentration, Retail

J&T Express' subsidiary J&T Express (Shenzhen) Supply Chain Co., Ltd. will acquire 100% share rights of Fengwang Holding's wholly-owned subsidiary, Shenzhen Fengwang Information Technology Co., Ltd. ("Fengwang Information"), for RMB 1.183 billion.

Key Points:

J&T Express' subsidiary J&T Express (Shenzhen) Supply Chain Co., Ltd. will acquire 100% share rights of Fengwang Holding's wholly-owned subsidiary, Shenzhen Fengwang Information Technology Co., Ltd. ("Fengwang Information"), for RMB 1.183 billion.
J&T Express has been making significant strides in the e-commerce express delivery sector since its entry into the Chinese market in 2020.
Shenzhen Fengwang Express Co., Ltd. ("Fengwang Express") is a wholly-owned subsidiary of Fengwang Information.
will continue to build e-commerce express delivery products and services and meet the diversified needs of customers in the high-end express delivery market.

Dada Announces Unaudited First Quarter 2023 Financial Results

Retrieved on:

Wednesday, May 10, 2023

Net revenues generated from JDDJ increased by 30.3% from RMB1,402.3 million in the first quarter of 2022 to RMB1,826.7 million in the first quarter of 2023, mainly due to the increase in GMV.

Key Points:

Net revenues generated from JDDJ increased by 30.3% from RMB1,402.3 million in the first quarter of 2022 to RMB1,826.7 million in the first quarter of 2023, mainly due to the increase in GMV.
Selling and marketing expenses were RMB1,316.6 million, compared with RMB1,114.5 million in the same quarter of 2022.
Net loss attributable to ordinary shareholders of Dada was RMB350.4 million, compared with RMB604.2 million in the same quarter of 2022.
For the second quarter of 2023, Dada expects total revenue to be between RMB2,800 million and RMB3,000 million, representing year-over-year growth of 22.7% to 31.5%.

Tianyun International Announced 2022 Annual Results

Retrieved on:

Friday, March 24, 2023

HONG KONG, Mar 24, 2023 - (ACN Newswire) - Tianyun International Holdings Limited ("Tianyun International", together with its subsidiaries, the "Group") (Stock code: 6836.HK) a leading seller and manufacturer of processed fruits products in China, is pleased to announce its audited annual results for the year ended 31 December 2022 ("Year Under Review").

Key Points:

HONG KONG, Mar 24, 2023 - (ACN Newswire) - Tianyun International Holdings Limited ("Tianyun International", together with its subsidiaries, the "Group") (Stock code: 6836.HK) a leading seller and manufacturer of processed fruits products in China, is pleased to announce its audited annual results for the year ended 31 December 2022 ("Year Under Review").
Moreover, the Group was once again selected as a 2022 municipal-level "Specialized, Excellent, Featured and Innovative" Enterprise by the Linyi Municipal Bureau of Industry and Information Technology.
Additionally, the construction of the Yunnan production base began in 2022 and is expected to be partially operationalby the end of 2023.
By doing so, the Group will achieve sustainable growth and offer consistent and sustainable returns to its shareholders and investors."

The Top Three Drivers Propelling The Direct Selling Establishments Market At A More Than 11% Growth Rate - By The Business Research Company

Retrieved on:

Wednesday, March 8, 2023

Label, SAMR, United, Growth, Small business, MLM, In re Amway Corp., Food, Food safety, Artificial intelligence, Government, Investment, United Nations, Tupperware Brands, Telephone numbers in Hungary, State Administration for Market Regulation, Pharmaceutical industry, Retail, Oriflame

LONDON, March 8, 2023 /PRNewswire/ -- As per The Business Research Company's Direct Selling Establishments Global Market Report 2023, the global direct selling establishments market size will grow from $688.4 billion in 2022 to $763.8 billion in 2023 at a compound annual growth rate (CAGR) of more than 11%. The global direct selling market size is then expected to grow to $1,125.5 billion in 2027 at a CAGR of more than 10%.

Key Points:

The direct selling establishments market is fairly fragmented, with a large number of players.
The top ten competitors in the market made up 18.4% of the total direct selling establishments market share .
An increase in population boosts the need for food, groceries, and other goods, driving the direct selling establishments market demand.
During the forecast period, the low cost of starting a multi-level marketing start-up is expected to propel the growth of the direct selling establishments market.

The Top Three Drivers Propelling The Direct Selling Establishments Market At A More Than 11% Growth Rate - By The Business Research Company

Retrieved on:

Wednesday, March 8, 2023

LONDON, March 8, 2023 /PRNewswire/ -- As per The Business Research Company's Direct Selling Establishments Global Market Report 2023, the global direct selling establishments market size will grow from $688.4 billion in 2022 to $763.8 billion in 2023 at a compound annual growth rate (CAGR) of more than 11%. The global direct selling market size is then expected to grow to $1,125.5 billion in 2027 at a CAGR of more than 10%.

Key Points:

The direct selling establishments market is fairly fragmented, with a large number of players.
The top ten competitors in the market made up 18.4% of the total direct selling establishments market share .
An increase in population boosts the need for food, groceries, and other goods, driving the direct selling establishments market demand.
During the forecast period, the low cost of starting a multi-level marketing start-up is expected to propel the growth of the direct selling establishments market.