WFOE

FLJ Group Limited Announces Disposal of Long-term Apartment Rental Business

Retrieved on: 
Tuesday, October 31, 2023
Acquisition, Food, WFOE, Habit, Cyprus Securities and Exchange Commission, Artificial intelligence, Growth, COVID-19, Risk, Marketing, Restaurant, Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., Travel, Disposal, PRC

Through the WFOE and the WFOE’s subsidiaries, the Company carried out its long-term apartment rental business (the “Disposed Business”).

Key Points: 
  • Through the WFOE and the WFOE’s subsidiaries, the Company carried out its long-term apartment rental business (the “Disposed Business”).
  • The Disposed Business contributed substantially all revenue and held substantially all of the assets of the Company prior to the Disposal.
  • We believe the Disposal will help us focus our resources on China’s large and fast-growing online lifestyle services sector.
  • Leveraging our experience from long-term apartment rental business, we are able to identify consumers’ consumption habits and patterns and quickly respond to their needs.

Hello Group Inc. Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2022

Retrieved on: 
Thursday, March 16, 2023
Table, H.10, PIN, Share repurchase, Tiffany Tang, Translation, MAU, NYSE, ADS, MOMO, Active users, Asset, Investment, WFOE, Bank statement, GAAP, Growth, Normal school, Marketing, Federal Reserve Board of Governors, Total, Infection, Pressure, NetEase, South China Normal University, Video game, Cryptocurrency, Music, Management, Risk management, Bank, Internet service provider, COVID, Renminbi, Media (communication)

Net revenues decreased by 12.6% year over year to RMB3,212.7 million (US$465.8 million*) in the fourth quarter of 2022.

Key Points: 
  • Net revenues decreased by 12.6% year over year to RMB3,212.7 million (US$465.8 million*) in the fourth quarter of 2022.
  • Mobile games revenues were RMB5.3 million (US$0.8 million) in the fourth quarter of 2022, a decrease of 72.4% from RMB19.3 million in the fourth quarter of 2021.
  • Income tax expenses were RMB109.4 million (US$15.9 million) in the fourth quarter of 2022, compared to RMB296.5 million in the fourth quarter of 2021.
  • Non-GAAP net income from the Momo segment was RMB480.5 million (US$69.7 million) in the fourth quarter of 2022, which increased from RMB415.8 million in the fourth quarter of 2021.

Global investors and traders growing appetite for Chinese futures - Gaining access via QFI

Retrieved on: 
Friday, February 3, 2023
Convertible bond, QFI, China Media Capital, GROW, OMS, Qualification, Data analysis, Capital, Commodity Futures Modernization Act of 2000, Ecosystem, Appetite, Optimism, FOF, TRS, CIO, WFOE, Public utility, Cryptocurrency, Management, PRC

CHICAGO, Feb. 3, 2023 /PRNewswire-PRWeb/ -- OP Investment Management ("OPIM"), one of Asia's leading hedge fund platforms, RCM China Consulting ("RCMCC"), and GROW Investment Group ("GROW"), a leading China-focused institutional advisor, have jointly announced that they have entered a tri-party strategic joint venture. The purpose of the joint venture is to provide a one-stop China alternative investment solution. Recently, GROW's localized product design offering has been added to OPIM's and RCMCC's joint platform to bring established PRC onshore strategies directly to institutional investors via managed accounts and direct market access.

Key Points: 
  • The demand has increased significantly due to investor optimism for a rebound in the Chinese markets and appetite for actively managed strategies.
  • The three firms have established investment and compliance infrastructure to deliver cross-border opportunities for offshore investors, to meet the demand for actively managed strategies for the Chinese mainland markets.
  • The demand has increased significantly due to investor optimism for a rebound in the Chinese markets and appetite for actively managed strategies.
  • The team has consulted with investors and traders about China access via WFOE, QFI and TRS programs.

Transphorm Expands Footprint with GaN Application Lab in China

Retrieved on: 
Thursday, December 1, 2022
Technology, Mobile, Wireless, Engineering, Other Energy, Manufacturing, Energy, Other Technology, Public Relations, Investor Relations, Telecommunications, Networks, Communications, Hardware, Semiconductor, Consumer Electronics, Marketing, International Rectifier, Renewable energy, Totem pole, JEDEC, Electronics, Wolfspeed, Silicon, International, Infineon Technologies, WeChat, WFOE, AEC, Research, Gallium nitride, Acquisition, Retail, Television, Video game, Transphorm

It will also serve as an application lab for regional customers developing GaN-based power systems as well as global R&D efforts.

Key Points: 
  • It will also serve as an application lab for regional customers developing GaN-based power systems as well as global R&D efforts.
  • China, Hong Kong, and Southeast Asia house several dynamic industries re-imagining power electronics through high performance GaN.
  • As a leader in high voltage GaN power semiconductors, Transphorm offers an unmatched GaN device portfolio able to address the power spectrum from 45 W to 10 kW+.
  • Transphorm, Inc., a global leader in the GaN revolution, designs and manufactures high performance and high reliability GaN semiconductors for high voltage power conversion applications.

APPlife Digital Solutions, Inc. Focuses On Exploring Global Merger and Acquisition Opportunities

Retrieved on: 
Wednesday, November 30, 2022
Digital Solutions, E-commerce, SAN, NFT, Work, ALDS, Recreation, Lollipop, Carbon, Non-fungible token, WFOE, Research, OTCQB, Acquisition, Retail, Online shopping, EU

The e-commerce and cloud-based businesses in our scope of possible targets covers a broad range of opportunities.

Key Points: 
  • The e-commerce and cloud-based businesses in our scope of possible targets covers a broad range of opportunities.
  • We have been narrowing down potential candidates and continue to engage in meaningful dialogue with the decision makers on more than one potential transaction, stated Matthew Reid, CEO of APPLife.
  • APPlife Digital Solutions Inc., with offices in San Francisco CA.
  • Global Hemp Services - APPlife is the lead investor in this eCommerce platform that offers hemp related products such as hemp building materials, insulation, personal use items and carbon credits.

Shenzhen-Hong Kong Cooperation Mechanism Innovation: "18 Measures" for Qianhai Shenzhen-Hong Kong Venture Capital Joint Development Released

Retrieved on: 
Monday, September 5, 2022
Hong Kong Exchanges and Clearing, Statistics, Authority, Special-purpose acquisition company, Administration, Policy, REIT, Financial Services and the Treasury Bureau, WFOE, Industry, Aircraft, Tutoring, Creative industries, Financial services, Qianhai

On September 2, "Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Administration - Hong Kong Special Administrative Region Government Financial Services and the Treasury Bureau on the 18 Measures to support Qianhai Shenzhen-Hong Kong Venture Capital Joint Development" (hereinafter referred to as "18 Measures") was released in Shenzhen and Hong Kong, according to the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.

Key Points: 
  • On September 2, "Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Administration - Hong Kong Special Administrative Region Government Financial Services and the Treasury Bureau on the 18 Measures to support Qianhai Shenzhen-Hong Kong Venture Capital Joint Development" (hereinafter referred to as "18 Measures") was released in Shenzhen and Hong Kong, according to the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.
  • In response to the Hong Kong financial industry's call for broader cooperation channel between Shenzhen and Hong Kong private equity funds, the "18 Measures" clearly stipulates that a one-time reward of 2 million yuan will be given to the Qianhai venture capital institutions listed on the Hong Kong Exchange.
  • Analysts believe that this move will further facilitate the two-way cross-border investment cooperation between Shenzhen and Hong Kong.
  • According to the "18 Measures", a Shenzhen-Hong Kong international venture capital cluster will be established in Qianhai.

Shenzhen-Hong Kong Cooperation Mechanism Innovation: "18 Measures" for Qianhai Shenzhen-Hong Kong Venture Capital Joint Development Released

Retrieved on: 
Monday, September 5, 2022
Hong Kong Exchanges and Clearing, Statistics, Authority, Special-purpose acquisition company, Administration, Policy, REIT, Financial Services and the Treasury Bureau, WFOE, Industry, Aircraft, Tutoring, Creative industries, Financial services, Qianhai

On September 2, "Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Administration - Hong Kong Special Administrative Region Government Financial Services and the Treasury Bureau on the 18 Measures to support Qianhai Shenzhen-Hong Kong Venture Capital Joint Development" (hereinafter referred to as "18 Measures") was released in Shenzhen and Hong Kong, according to the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.

Key Points: 
  • On September 2, "Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Administration - Hong Kong Special Administrative Region Government Financial Services and the Treasury Bureau on the 18 Measures to support Qianhai Shenzhen-Hong Kong Venture Capital Joint Development" (hereinafter referred to as "18 Measures") was released in Shenzhen and Hong Kong, according to the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.
  • In response to the Hong Kong financial industry's call for broader cooperation channel between Shenzhen and Hong Kong private equity funds, the "18 Measures" clearly stipulates that a one-time reward of 2 million yuan will be given to the Qianhai venture capital institutions listed on the Hong Kong Exchange.
  • Analysts believe that this move will further facilitate the two-way cross-border investment cooperation between Shenzhen and Hong Kong.
  • According to the "18 Measures", a Shenzhen-Hong Kong international venture capital cluster will be established in Qianhai.

RYB Education, Inc. Announces Divesture of Directly Operated Kindergarten Business and Proposes the Change of Name

Retrieved on: 
Thursday, March 3, 2022
Education, Terminology, Private Securities Litigation Reform Act, Lists of schools in England, Life, Student, Opinion, Forward-looking statement, Technology, Comment, Curriculum, Growth, Draft, NYSE, State Council, SEC, Company, Implementation, Compliance, VIE, RYB, Child, RYB Education, WFOE, Public relations

By entering into those termination agreements, RYB will no longer have contractual control over its directly operated kindergarten business (the "Divesture").

Key Points: 
  • By entering into those termination agreements, RYB will no longer have contractual control over its directly operated kindergarten business (the "Divesture").
  • Concurrently, the Company is proposing to change its name from RYB Education Inc. to Gravitas Education Holdings Inc., subject to approval at the next extraordinary general meeting.
  • The divested kindergartens will continue to be operated by the current management team, ensuring consistency and continued delivery of high quality education to students.
  • This Divesture includes the termination of agreements by and among Beijing RYB Technology Development Co., Ltd. ("our WFOE"), Beijing RYB Children Education Technology Development Co., Ltd. ("our VIE") and its shareholders.

ITM and Grand Pharma Enter into a Commercialization Agreement for Targeted Radiopharmaceuticals in the Greater China Area

Retrieved on: 
Monday, December 27, 2021
Research, Medical Devices, Biotechnology, Radiology, Health, Pharmaceutical, Other Science, Science, Oncology, Radionuclide, Physician, WFOE, Wilms' tumor, Clinician Administered PTSD Scale, Radiation, Patient, Greater China, Neoplasm, DOTA, Ear, Â, Nuclear medicine, PET/CT, Diagnosis, Osteosarcoma, Therapy, GP, Bone, Health, Leadership, ITM, III, Cerebro, GEP-NET, PET, Population, Cancer, Radiopharmaceutical, Safety, NETS, CIRC, Multimedia, Science, Partnership, Pharmaceutical industry, Medical imaging, Targeted Radionuclide Therapy, ITM-11 (n.c.a. 177Lu-edotreotide), ITM-41 (n.c.a. 177Lu-zoledronate), TOCscan® (68Ga-edotreotide), Grand Pharmaceutical Group Limited, TARGETED RADIONUCLIDE THERAPY, ITM-11 (N.C.A. 177LU-EDOTREOTIDE), ITM-41 (N.C.A. 177LU-ZOLEDRONATE), TOCSCAN® (68GA-EDOTREOTIDE), GRAND PHARMACEUTICAL GROUP LIMITED

177Lu-zoledronate ) as well as the diagnostic TOCscan ( 68Ga-edotreotide ) in the territory of mainland China, Hong Kong, Macau and Taiwan.

Key Points: 
  • 177Lu-zoledronate ) as well as the diagnostic TOCscan ( 68Ga-edotreotide ) in the territory of mainland China, Hong Kong, Macau and Taiwan.
  • GP will be responsible for clinical development, regulatory activities and commercialization of these products in the licensed geographies.
  • We value our strategic partnership with ITM as we focus on bringing improved precision oncology treatments to Greater China, said Frank Zhou, Chief Executive Officer of GP.
  • GP is accomplishing its promises to physicians and patients and trying our best to make meaningful contributions to our society.

RISE Education Cayman Ltd Announces Results of the Extraordinary General Meeting on December 23, 2021

Retrieved on: 
Thursday, December 23, 2021
Asset purchase agreement, WFOE, Sale, NASDAQ, Rise (education program), EGM, Procurement, Cayman, Company, Security (finance)

BEIJING, Dec. 23, 2021 /PRNewswire/ -- RISE Education Cayman Ltd ("RISE" or the "Company") (NASDAQ: REDU), today announced the results of the Company's extraordinary general meeting of shareholders (the "EGM") held in Beijing today.

Key Points: 
  • BEIJING, Dec. 23, 2021 /PRNewswire/ -- RISE Education Cayman Ltd ("RISE" or the "Company") (NASDAQ: REDU), today announced the results of the Company's extraordinary general meeting of shareholders (the "EGM") held in Beijing today.
  • At the EGM, shareholders, through a special resolution, approved the sale (the "Sale") of (i) all of the equity interests in Rise (Tianjin) Education Information Consulting Co., Ltd. ("WFOE") to Wuhan Xinsili Culture Development Co., Ltd. (the "Buyer SPV") in consideration of the Buyer SPV (a) paying to RISE Education International Limited ("Rise HK") consideration of RMB1 or in a foreign currency equivalent to RMB1, and (b) assuming all liabilities of WFOE and its subsidiaries, as contemplated by and pursuant to the terms and conditions of the purchase agreement (the "WFOE Purchase Agreement"); and (ii) all of the equity interests in Rise HK and Rise IP (Cayman) Limited ("Rise IP") to Bain Capital Rise Education IV Cayman Limited (the "Shareholder") in consideration of the Shareholder (a) paying US$2,500,000 to the Company, for the purposes of paying the lenders in settlement of the facilities agreement dated March 18, 2021 relating to the term and revolving facilities of up to an aggregate amount of US$80,000,000, as contemplated by and pursuant to the terms and conditions of the share purchase agreement (the "IP Holdco Purchase Agreement", collectively with the WFOE Purchase Agreement, the "Purchase Agreements"), and (b) causing Rise HK and/or Rise IP to grant WFOE or entities designated by the Buyer SPV a royalty-free, perpetual, irrevocable and exclusive license over all intellectual property rights owned by or licensed to Rise HK and/or Rise IP.
  • At the EGM, shareholders also approved, through an ordinary resolution, the adjournment of the EGM, if necessary or appropriate, to solicit additional proxies in the event that there are insufficient votes at the time of the meeting to approve the Sale and adopt and approve the Purchase Agreements and the transactions contemplated thereby.
  • The voting results were as follows: