HONG KONG

HKEX Adds Abu Dhabi Securities Exchange and Dubai Financial Market as Recognised Stock Exchanges

Retrieved on: 
Friday, July 19, 2024

HKEX Head of Listing, Katherine Ng, said: "We are pleased to be expanding our list of Recognised Stock Exchanges with two leading exchanges in the UAE, enabling even more issuers in the Middle East to consider a Hong Kong listing.

Key Points: 
  • HKEX Head of Listing, Katherine Ng, said: "We are pleased to be expanding our list of Recognised Stock Exchanges with two leading exchanges in the UAE, enabling even more issuers in the Middle East to consider a Hong Kong listing.
  • At HKEX, we are committed to further enhancing the diversity of our markets to give investors more choices, and strengthening Hong Kong's position as Asia's leading international financial centre."
  • The addition of ADX and DFM brings the total number of RSEs in the Middle East to three, after Saudi Exchange (Tadawul), which was added in 2023.
  • The Exchange will update the list of RSEs from time to time, on the basis that the exchanges meet its regulatory framework.

AM Best Affirms Credit Ratings of The People’s Insurance Company of China (Hong Kong), Limited

Retrieved on: 
Friday, July 19, 2024

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The People’s Insurance Company of China (Hong Kong), Limited (PICC HK) (Hong Kong).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The People’s Insurance Company of China (Hong Kong), Limited (PICC HK) (Hong Kong).
  • The ratings also reflect the strategic importance of the company to its parent, The People’s Insurance Company (Group) of China Limited (PICC Group) (China), as the sole overseas insurance entity and a key component of PICC Group’s overseas strategies.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Zetrix Blockchain Revolutionises Miss Universe Pageants with Decentralised Governance

Retrieved on: 
Friday, July 19, 2024

KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ -- In a groundbreaking move, Zetrix, a leading layer-1 blockchain platform, is set to transform the Miss Universe Indonesia and Hong Kong pageants by introducing Decentralised Autonomous Organisations (DAOs) to their operations.

Key Points: 
  • KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ -- In a groundbreaking move, Zetrix, a leading layer-1 blockchain platform, is set to transform the Miss Universe Indonesia and Hong Kong pageants by introducing Decentralised Autonomous Organisations (DAOs) to their operations.
  • For the first time in history, these pageants will be governed by DAOs, allowing communities to actively participate in decision-making processes.
  • Zetrix's foray into the world of beauty pageants highlights the growing potential of blockchain technology to disrupt traditional industries.
  • By leveraging the transparency and security of blockchain, Zetrix aims to create a more equitable and inclusive environment for all participants.

RoboSense Sales Volume of LiDAR for ADAS Achieved 487.7% YOY Growth in H1 2024

Retrieved on: 
Friday, July 19, 2024

As OEMs rapidly pursued advancements in intelligent technology, RoboSense achieved nearly its 2023 annual sales volume in the first half year of 2024.

Key Points: 
  • As OEMs rapidly pursued advancements in intelligent technology, RoboSense achieved nearly its 2023 annual sales volume in the first half year of 2024.
  • As of June 30, 2024, RoboSense's cumulative sales volume of LiDAR have reached approximately 583,500 units, with LiDAR for ADAS approximately 518,300 units.
  • Since pioneering the mass production of LiDAR for ADAS in 2021, RoboSense has demonstrated significant growth, with steadily increasing sales that continue to lead the industry's development.
  • In 2024 Q2 and Q3, RoboSense launched the M3, a long-range LiDAR, and the MX, a medium-range LiDAR.

RoboSense Sales Volume of LiDAR for ADAS Achieved 487.7% YOY Growth in H1 2024

Retrieved on: 
Friday, July 19, 2024

As OEMs rapidly pursued advancements in intelligent technology, RoboSense achieved nearly its 2023 annual sales volume in the first half year of 2024.

Key Points: 
  • As OEMs rapidly pursued advancements in intelligent technology, RoboSense achieved nearly its 2023 annual sales volume in the first half year of 2024.
  • As of June 30, 2024, RoboSense's cumulative sales volume of LiDAR have reached approximately 583,500 units, with LiDAR for ADAS approximately 518,300 units.
  • Since pioneering the mass production of LiDAR for ADAS in 2021, RoboSense has demonstrated significant growth, with steadily increasing sales that continue to lead the industry's development.
  • In 2024 Q2 and Q3, RoboSense launched the M3, a long-range LiDAR, and the MX, a medium-range LiDAR.

iClick Interactive Asia Group Limited Announces Disposal of Its Mainland China Enterprise Solutions Business

Retrieved on: 
Friday, July 19, 2024

HONG KONG, July 19, 2024 /PRNewswire/ -- iClick Interactive Asia Group Limited ("iClick" or the "Company") (NASDAQ: ICLK), a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced that Optimix Media Asia Limited, a wholly-owned subsidiary of the Company, entered into a share purchase agreement on July 19, 2024 to sell all of its equity interest in Tetris Media Limited ("Tetris") to BeihaiOne Limited (the "Disposal").

Key Points: 
  • HONG KONG, July 19, 2024 /PRNewswire/ -- iClick Interactive Asia Group Limited ("iClick" or the "Company") (NASDAQ: ICLK), a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced that Optimix Media Asia Limited, a wholly-owned subsidiary of the Company, entered into a share purchase agreement on July 19, 2024 to sell all of its equity interest in Tetris Media Limited ("Tetris") to BeihaiOne Limited (the "Disposal").
  • Tetris and its subsidiaries are the primary entities through which the Company delivers its enterprise solutions business in mainland China.
  • After the Disposal, the Company will continue to operate its enterprise solutions business in Hong Kong and marketing solutions business in mainland China, Hong Kong and overseas.
  • Given the limited growth opportunity, our board of directors has decided to dispose of Tetris and its subsidiaries.

HIGHWAY HOLDINGS REPORTS FISCAL FOURTH QUARTER AND FULL YEAR 2024 RESULTS

Retrieved on: 
Friday, July 19, 2024

HONG KONG, July 19, 2024 /PRNewswire/ -- Highway Holdings Limited (Nasdaq: HIHO) today reported results for the fiscal fourth quarter and fiscal year ended March 31, 2024.

Key Points: 
  • HONG KONG, July 19, 2024 /PRNewswire/ -- Highway Holdings Limited (Nasdaq: HIHO) today reported results for the fiscal fourth quarter and fiscal year ended March 31, 2024.
  • Net sales for fiscal year 2024 were $6.3 million compared to $10.2 million for the fiscal year 2023, reflecting the above noted negative impact of the COVID-19 pandemic.
  • Net loss for the fiscal year 2024 was $959,000, or $0.22 per diluted share, compared with a net loss of $294,000, or $0.07 per diluted share, in the fiscal year 2023.
  • Total accounts receivable at March 31, 2024 decreased to $1.2 million from $1.9 million in the fiscal year 2023, reflecting the decrease in net sales in the fourth quarter and fiscal year 2024.

Twelve Students from KIIT-DU Qualify for Paris Olympics

Retrieved on: 
Friday, July 19, 2024

BHUBANESWAR, India, July 19, 2024 /PRNewswire/ -- In a big achievement for KIIT Deemed to be University (KIIT-DU), Bhubaneswar, 12 students have successfully qualified for the Paris Olympics 2024 beginning July 26, bringing pride and joy to the institution.

Key Points: 
  • BHUBANESWAR, India, July 19, 2024 /PRNewswire/ -- In a big achievement for KIIT Deemed to be University (KIIT-DU), Bhubaneswar, 12 students have successfully qualified for the Paris Olympics 2024 beginning July 26, bringing pride and joy to the institution.
  • Informing the media, Dr. Samanta said that KIIT & KISS is the first organization in India to send the highest number of players to the Olympics.
  • He also mentioned that KIIT & KISS has produced 20 Olympians and 2 Paralympians who represented India at the 2016 Rio Olympics, the 2020 Tokyo Olympics, and will be representing the country at the 2024 Paris Olympics.
  • "We are happy that 12 students from KIIT are participating in the Paris Olympics 2024, making us and the country proud.

Twelve Students from KIIT-DU Qualify for Paris Olympics

Retrieved on: 
Friday, July 19, 2024

BHUBANESWAR, India, July 19, 2024 /PRNewswire/ -- In a big achievement for KIIT Deemed to be University (KIIT-DU), Bhubaneswar, 12 students have successfully qualified for the Paris Olympics 2024 beginning July 26, bringing pride and joy to the institution.

Key Points: 
  • BHUBANESWAR, India, July 19, 2024 /PRNewswire/ -- In a big achievement for KIIT Deemed to be University (KIIT-DU), Bhubaneswar, 12 students have successfully qualified for the Paris Olympics 2024 beginning July 26, bringing pride and joy to the institution.
  • Informing the media, Dr. Samanta said that KIIT & KISS is the first organization in India to send the highest number of players to the Olympics.
  • He also mentioned that KIIT & KISS has produced 20 Olympians and 2 Paralympians who represented India at the 2016 Rio Olympics, the 2020 Tokyo Olympics, and will be representing the country at the 2024 Paris Olympics.
  • "We are happy that 12 students from KIIT are participating in the Paris Olympics 2024, making us and the country proud.

QMMM Holdings Limited Announces Pricing of $8.6 Million Initial Public Offering

Retrieved on: 
Friday, July 19, 2024

HONG KONG, July 18, 2024 /PRNewswire/ -- QMMM Holdings Limited (the "Company" or "QMMM"), a digital media advertising, virtual avatar & virtual apparel technology service provider in Hong Kong, today announced the pricing of its initial public offering (the "Offering") of 2,150,000 ordinary shares at a price of $4.00 per share.

Key Points: 
  • HONG KONG, July 18, 2024 /PRNewswire/ -- QMMM Holdings Limited (the "Company" or "QMMM"), a digital media advertising, virtual avatar & virtual apparel technology service provider in Hong Kong, today announced the pricing of its initial public offering (the "Offering") of 2,150,000 ordinary shares at a price of $4.00 per share.
  • The aggregate gross proceeds from the Offering will be $8.6 million, before deducting underwriting discounts and other related expenses.
  • The Offering is expected to close on or about July 22, 2024, subject to the satisfaction of customary closing conditions.
  • QMMM has granted the underwriter a 45-day option to purchase up to an additional 322,500 ordinary shares at the public offering price, less underwriting discounts and commissions.