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L'Oréal Groupe signed an MOU with Korea Ministry of SMEs and Startups at Viva Technology 2023 on partnership for open innovation in Korea L'Oréal's "Big Bang Beauty Tech & Innovation Challenge" in North Asia aims to drive open innovation and co-creation for future beauty together with start-ups across China, Korea and Japan PARIS, June 16, 2023 /PRNewswire/ -- L'Oréal announced at Viva Technology 2023, Europe's biggest startup and tech event, its launch of the "Big Bang Beauty Tech & Innovation Challenge" ("Big Bang Program") in North Asia, the first regional open innovation initiative focused on driving co-creation and co-development of innovative beauty products and experiences across China, Korea and Japan. The initiative will discover, support and nurture promising start-ups and companies with beauty tech and innovative sciences that can be scaled regionally and globally. L'Oréal Groupe signed an MOU with Korea Ministry of SMEs and Startups ("MSS") on partnership for the Big Bang Program in Korea. In Japan, J-Startup, government project supporting entrepreneurs operated by Ministry of Economy, Trade and Industry ("METI") and JETRO, will support the initiative. L’Oréal Groupe signed an MOU with Korea Ministry of SMEs and Startups After a successful 3-year pilot in China, the latest expansion to Korea and Japan marks a significant milestone to leverage and activate the unique innovation ecosystem of the "C- J-K Beauty Triangle" in North Asia via cross-market and cross-sector collaboration for beauty innovation. Barbara LAVERNOS, Deputy CEO of L'Oréal Groupe in charge of Research, Innovation and Technology, said: "At L'Oréal, we embrace and nurture innovation, and believe in open innovation through partnerships. Therefore, we work with innovative start-ups, small and medium businesses, institutions and governments to inspire and be inspired. The signing of MOU with Korean MSS is a significant milestone for L'Oréal's journey in leading open innovation in North Asia. We are excited to collaborate with startups from China, Korea, and Japan through the Big Bang Program, and to scale up creativity and innovation from North Asia globally." Commenting on the partnership with L'Oréal, Ms. Young Lee, Korea Minister of SMEs and Startups, said, "Supporting promising Korean SMEs and startups to play an active role in the global market is a big mission for us at the Ministry of SMEs and Startups. In this sense, collaboration with the global beauty leader L'Oréal Groupe is very meaningful. The ministry will continue to support Korean companies with innovative technologies to collaborate with global companies to strengthen their market competitiveness and expand into the global market." Dr. Yoshiaki Ishii, Director of Startup and New Business Promotion Office at METI, comments as follows: "Japanese government is enhancing startup ecosystem to realize social benefit and economic growth and J-Startup is the flagship program. We believe that collaboration with the L'Oréal Big Bang Program will make the J-Startup more global and contribute to the better world." Launch of the Big Bang Program in North Asia leverages the valuable experience from its successful pilot in China as the market's first startup challenge tailored for China's beauty tech ecosystem. Through the partnership with Oriental Beauty Valley and Business France, the Big Bang China Program has attracted over 1,500 Chinese startups and incubated over 50 projects in the past three years. In 2023, Big Bang China Program is in full swing with upgraded designs and resources. Ribbon cutting at L’Oréal’s North Asia “Big Bang Program” launch ceremony In Korea, L'Oréal will partner with MSS to further expand and support promising Korean SMEs and startups with innovative digital and beauty tech technologies that can be scaled globally. Specifically, the Big Bang Korea Program will focus on beauty devices, beauty tech, skin diagnosis and delivery systems enabled by digital and AI technologies, leveraging the unique strengths of Korea's beauty eco-system. In Japan, L'Oréal will partner with J-Startup and Hello Tomorrow to support Japanese startups and cross industry collaborators through the Big Bang Japan Program for open innovation and co-development opportunities. Leveraging Japan's unique strengths in biotechnology, material science and environmental-friendly technologies, the Japan Program will focus on sustainable beauty and green sciences. Fabrice Megarbane, President of North Asia Zone & CEO of L'Oréal China, said: "North Asia is the most dynamic beauty market in the world with one third of the global beauty market and five geographically and culturally connected markets. Leveraging the unique 'Beauty Triangle' innovation eco-system and our strong Research & Innovation expertise in China, Korea and Japan, we believe the Big Bang Program in North Asia will unleash the power of co-creation through open innovation on disruptive beauty solutions with start-ups and partners across China, Korea and Japan. Let's inspire the world with innovations from North Asia, to create the beauty that moves the world." Mr. Fabrice Megarbane, President L'Oréal North Asia & CEO L’Oréal China, delivering speech About L'Oréal Group For over 110 years, L'Oréal, the world's leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 35 international brands and ambitious sustainability commitments in our 'L'Oréal for the Future' programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality. With 85,400 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), in 2021 the Group generated sales amounting to 32.28 billion euros. With 20 research centres across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 3,000 tech professionals, L'Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse. More information on https://www.loreal.com/en/mediaroom About L'Oréal North Asia Zone L'Oréal North Asia Zone was established in 2021 as L'Oréal Groupe regrouped the geographical scope of its zones to give greater coherence to consumer behaviour and to create synergy within the region. The North Asia Zone comprises of five geographically and culturally connected markets of Mainland China, Hong Kong, Taiwan, Korea and Japan. L'Oréal North Asia Zone is the second largest region within the Group, accounting for 29.6% of the Group's global sales in 2022. Situated in the most beauty intense region with more than one-third of the world's total beauty consumers, L'Oréal North Asia shapes the future of beauty with its innovation centres in Shanghai, Tokyo and Seoul, while investing in beauty tech transformation as one of the three beauty tech hubs globally. Here, our mission is to strategize, create and activate a powerful ecosystem around the North Asia Beauty Triangle as a competitive edge to unleash sustainable growth for all and inspire the world. Media contact: Linda YAN / linda.yan@loreal.com
L'Oréal Groupe signed an MOU with Korea Ministry of SMEs and Startups at Viva Technology 2023 on partnership for open innovation in Korea L'Oréal's "Big Bang Beauty Tech & Innovation Challenge" in North Asia aims to drive open innovation and co-creation for future beauty together with start-ups across China, Korea and Japan PARIS, June 16, 2023 /PRNewswire/ -- L'Oréal announced at Viva Technology 2023, Europe's biggest startup and tech event, its launch of the "Big Bang Beauty Tech & Innovation Challenge" ("Big Bang Program") in North Asia, the first regional open innovation initiative focused on driving co-creation and co-development of innovative beauty products and experiences across China, Korea and Japan. The initiative will discover, support and nurture promising start-ups and companies with beauty tech and innovative sciences that can be scaled regionally and globally. L'Oréal Groupe signed an MOU with Korea Ministry of SMEs and Startups ("MSS") on partnership for the Big Bang Program in Korea. In Japan, J-Startup, government project supporting entrepreneurs operated by Ministry of Economy, Trade and Industry ("METI") and JETRO, will support the initiative. L’Oréal Groupe signed an MOU with Korea Ministry of SMEs and Startups After a successful 3-year pilot in China, the latest expansion to Korea and Japan marks a significant milestone to leverage and activate the unique innovation ecosystem of the "C- J-K Beauty Triangle" in North Asia via cross-market and cross-sector collaboration for beauty innovation. Barbara LAVERNOS, Deputy CEO of L'Oréal Groupe in charge of Research, Innovation and Technology, said: "At L'Oréal, we embrace and nurture innovation, and believe in open innovation through partnerships. Therefore, we work with innovative start-ups, small and medium businesses, institutions and governments to inspire and be inspired. The signing of MOU with Korean MSS is a significant milestone for L'Oréal's journey in leading open innovation in North Asia. We are excited to collaborate with startups from China, Korea, and Japan through the Big Bang Program, and to scale up creativity and innovation from North Asia globally." Commenting on the partnership with L'Oréal, Ms. Young Lee, Korea Minister of SMEs and Startups, said, "Supporting promising Korean SMEs and startups to play an active role in the global market is a big mission for us at the Ministry of SMEs and Startups. In this sense, collaboration with the global beauty leader L'Oréal Groupe is very meaningful. The ministry will continue to support Korean companies with innovative technologies to collaborate with global companies to strengthen their market competitiveness and expand into the global market." Dr. Yoshiaki Ishii, Director of Startup and New Business Promotion Office at METI, comments as follows: "Japanese government is enhancing startup ecosystem to realize social benefit and economic growth and J-Startup is the flagship program. We believe that collaboration with the L'Oréal Big Bang Program will make the J-Startup more global and contribute to the better world." Launch of the Big Bang Program in North Asia leverages the valuable experience from its successful pilot in China as the market's first startup challenge tailored for China's beauty tech ecosystem. Through the partnership with Oriental Beauty Valley and Business France, the Big Bang China Program has attracted over 1,500 Chinese startups and incubated over 50 projects in the past three years. In 2023, Big Bang China Program is in full swing with upgraded designs and resources. Ribbon cutting at L’Oréal’s North Asia “Big Bang Program” launch ceremony In Korea, L'Oréal will partner with MSS to further expand and support promising Korean SMEs and startups with innovative digital and beauty tech technologies that can be scaled globally. Specifically, the Big Bang Korea Program will focus on beauty devices, beauty tech, skin diagnosis and delivery systems enabled by digital and AI technologies, leveraging the unique strengths of Korea's beauty eco-system. In Japan, L'Oréal will partner with J-Startup and Hello Tomorrow to support Japanese startups and cross industry collaborators through the Big Bang Japan Program for open innovation and co-development opportunities. Leveraging Japan's unique strengths in biotechnology, material science and environmental-friendly technologies, the Japan Program will focus on sustainable beauty and green sciences. Fabrice Megarbane, President of North Asia Zone & CEO of L'Oréal China, said: "North Asia is the most dynamic beauty market in the world with one third of the global beauty market and five geographically and culturally connected markets. Leveraging the unique 'Beauty Triangle' innovation eco-system and our strong Research & Innovation expertise in China, Korea and Japan, we believe the Big Bang Program in North Asia will unleash the power of co-creation through open innovation on disruptive beauty solutions with start-ups and partners across China, Korea and Japan. Let's inspire the world with innovations from North Asia, to create the beauty that moves the world." Mr. Fabrice Megarbane, President L'Oréal North Asia & CEO L’Oréal China, delivering speech About L'Oréal Group For over 110 years, L'Oréal, the world's leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 35 international brands and ambitious sustainability commitments in our 'L'Oréal for the Future' programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality. With 85,400 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), in 2021 the Group generated sales amounting to 32.28 billion euros. With 20 research centres across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 3,000 tech professionals, L'Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse. More information on https://www.loreal.com/en/mediaroom About L'Oréal North Asia Zone L'Oréal North Asia Zone was established in 2021 as L'Oréal Groupe regrouped the geographical scope of its zones to give greater coherence to consumer behaviour and to create synergy within the region. The North Asia Zone comprises of five geographically and culturally connected markets of Mainland China, Hong Kong, Taiwan, Korea and Japan. L'Oréal North Asia Zone is the second largest region within the Group, accounting for 29.6% of the Group's global sales in 2022. Situated in the most beauty intense region with more than one-third of the world's total beauty consumers, L'Oréal North Asia shapes the future of beauty with its innovation centres in Shanghai, Tokyo and Seoul, while investing in beauty tech transformation as one of the three beauty tech hubs globally. Here, our mission is to strategize, create and activate a powerful ecosystem around the North Asia Beauty Triangle as a competitive edge to unleash sustainable growth for all and inspire the world. Media contact:Linda YAN / linda.yan@loreal.com
The 100% Pure Cotton Compressed Balls Combine Highly Concentrated Glycolic Acid and Salicylic Acid For Intensive Spot Care, Pore Purification, and Excessive Sebum Care SEOUL, South Korea, June 16, 2023 /PRNewswire/ -- COSRX has announced the release of their new The AHA 2 BHA 2 Blemish Treatment Serum that boasts 2% AHA & 2% BHA within 100% pure cotton compressed balls to provide a quick and effective solution for spot care and blemish needs. Designed to be hygienic, quick, and easy to use, this serum is a game-changer for anyone seeking effective spot care without the hassle. COSRX LAUNCHES THE AHA 2 BHA 2 BLEMISH TREATMENT SERUM The innovative new serum brings together an optimal blend of ingredients such as PHA (Gluconolacton), Allantoin, Zinc PCA, and Sodium Hyaluronate which together become the ideal derm solution for anyone aiming to prevent their spots from getting bigger or worse. Beyond just treating spots, the serum also addresses whiteheads, blackheads, excess sebum, and clogged pores for a solution that is suitable for those of all skin types. With just one cotton ball, you can now treat your spots without the need to touch them directly. This hygienic approach ensures a clean and convenient application. Simply tap-tap the spot you want to target, and let the serum work its magic. The cotton ball is the perfect size and shape for precise application on the targeted area, making spot treatment a breeze. "Our The AHA 2 BHA 2 Blemish Treatment Serum with the DermCottonBall offers a hygienic, quick, and easy solution," stated a COSRX spokesperson. "We recognize the importance of providing an effective spot treatment that prioritizes cleanliness and ease of use. With our serum, you can confidently address your spots without any hassle." Attention to both the skin and earth is key - the 100% pure cotton balls have a variety of certification marks which include Vegan® Fabric, Biodegradable Fabric, LOHAS (Life Style of Health and Sustainability) and OEKO-TEX® (Oeko-Tex Standard 100). The AHA 2 BHA 2 Blemish Treatment Serum is available on the following official sites: Shopee Singapore; Shopee Philippines; Shopee Vietnam; Shopee Thailand; Shopee Taiwan ; Shopee Malaysia. About COSRX With its powerful yet affordable skincare solutions, COSRX has quickly become one of America's favorite skincare brands. Using a minimal number of highly effective natural extracts in concentrated doses, COSRX products deliver visible results by treating skin with only the essentials it needs and nothing it doesn't. Find its best-selling skincare solutions at retailers nationwide, including Amazon, ULTA, JCPenney, Target and Dermstore. Instagram: https://www.instagram.com/cosrx/ TikTok: https://www.tiktok.com/@cosrx_official COSRX Official Website: https://www.cosrx.com/
Through their outstanding performance as the PR Lead for the pre-release campaign of the latest song of Global C-Pop Artist Tia Lee (Lee Yu Fen), Goodbye Princess, the communications agency earned prestige in the “Best Video Story-Telling” Category.HONG KONG SAR - Media OutReach - 15 June 2023 - Greater China-based leading communications agency Creative Consulting Group (CCG), part of global communications agency Redhill, claimed the Best Video Story-Telling Bronze Award today at the PR Awards Asia-Pacific 2023 Dinner & Awards Presentation, taking place at the St. Regis Hotel in Wan Chai. This award gave recognition to CCG for their outstanding performance in being the PR lead and producer for the pre-release campaign of Goodbye Princess, global fashion icon, C-pop singer, film and television actress — Tia Lee's (Lee Yu Fen) latest hit song that broke records. CCG Team claimed the Best Video Story-Telling Bronze Award It was the communication agency's first time working on a singer's pre-release, one that faced the pressure of a tight timeline of 3 months, needed to create enough buzz for the media to pick up on the campaign, and sought the amplification of Tia's message of women empowerment. The CCG team took on this challenge by putting together a production team consisting of award-winning professionals, to plan and execute a 6-episode long animation series that placed Tia Lee as the main character, a metaphor for different aspects of her career in the entertainment industry. Tia Lee Goodbye Princess Pre-Release Animation Campaign "We are honored to be recognized for our hard work in this prestigious award, as we always strive to leverage on the power of effective storytelling in every PR campaign" said Belinda Chan, CCG's Founder. "It was a delight to work with Tia Lee and her team, and a large part of this pre-release campaign's success was due to Tia Lee's artistic talent, as well as her team's exceptional management and communication." In addition to putting together the animation series, the CCG team was also responsible for the preparation, strategy, and execution of marketing materials. An innovative Instagram marketing approach was employed where all of Tia Lee's 138 Instagram posts were deleted a few days before the launch of Goodbye Princess, replacing them with 6 all-back posts appearing as a blue line striking through the middle in a six-square grid. This strategy was effective in generating hype and noise online, and raised many questions among fans. Three days before the release of the first episode, a series of 3 posts each day showing the gradual visual of a woman falling deeper into the ocean was shown alongside a numbered countdown. CCG Team claimed the Best Video Story-Telling Bronze Award "We needed a powerful, bold, detailed oriented and global approach to reach our target audience," said Thriving Influence Limited. "Tia Lee is an incredible artist with a strong vision for women empowerment, and we are glad to have worked with CCG to create a campaign with such a wide reach and long-lasting impact." The result of Goodbye Princess' pre-release campaign achieved a record-breaking success, with the official music video of Goodbye Princess earning 100 million views within 20 days of release. Each animation episode achieved an average number of over 1 million views on Instagram and over 5.5 million views on YouTube. In addition, a total of 2,400 news reports were obtained, including from United States media Variety and Billboard, United Kingdom media tmrw, Australia media 9Honey, Hong Kong Media HK01 and SCMP, and Taiwan media TVBs, Mirror, and ETtoday. Tia Lee also ended up as the featured magazine cover for Vogue magazine and Rollacoaster, as well being invited to join London Fashion week. A series of 3 posts each day showing the gradual visual of a woman falling deeper into the ocean was shown alongside a numbered countdown. Please download hi-res photos via below link﹕ https://drive.google.com/drive/u/0/folders/1yywgkmW_oXk3DAe1Z2jRcqAPtZu2S14a Hashtag: #CreativeConsultingGroupThe issuer is solely responsible for the content of this announcement.Creative Consulting GroupCreative Consulting Group (CCG) is a one-stop professional and creative public relations solutions service provider across branding, business writing, events, and multimedia production. Based in the epicentre of Asia Pacific, they specialise in strategic integrated communications for businesses in Hong Kong and for regional corporations looking to amplify their presence throughout the Greater China. With over 20 years of experience, CCG's team has become a leading communications agency, delivering brand stories through personalised PR, unforgettable events, and social media solutions. They proudly represent their long-term clients with over 50% of them entrusting their services for 6 years and going. Redhill CommunicationsRedhill is a responsive, agile and full-service PR and communications firm. They provide strategic counsel for public relations, digital narratives, crisis management, internal communications and branding across industries and sectors. Driven by a team of passionate communications specialists, they craft campaigns that build a brand's reputation and market share. Headquartered in Singapore and embedded in Southeast Asia, with a reach that extends to Northern Asia, Middle East, Europe and the US, Redhill's close-knit, multi-national team of communications specialists and public relations consultants work to support clients across the globe. Redhill is recognised as one of Singapore's Fastest Growing Companies for two consecutive years (2021 and 2022) by the Straits Times, Financial Times' top 500 Asia-Pacific High-Growth Companies (2021) and the first public relations agency to be recognised in the Enterprise 50 Awards (2020).
臺灣臺北 - Media OutReach - 2023年6月13日 - 日本通信技術盛會「COMNEXT次世代通信技術展」將於6月28日至30日於東京國際展示場(Tokyo Big Sight)登場,今年度在經濟部工業局指導下,偕同財團法人資訊工業策進會,攜手帶領臺灣網通業者赴日參展。本次出展陣容由亞旭、光寶、雲達和智宏網等我國網通指標企業組成,除展示各家企業創新之5G系統解決方案,將以展覽、研討會、媒合交流會等形式,增進臺廠與國際業者間的交流。 本次以「5G Team Taiwan」為主軸,匯聚國內優秀網通企業,展示可靠且靈活之5G系統解決方案及臺灣5G AIoT應用服務成果。仰賴5G低延遲、高速率、多連結的特性,結合AR擴增實境及全息投影,打造沉浸式展演體驗。而當5G AIoT與智慧杆結合,則可延伸環境監控、智慧照明、影像辨識、空氣品質及噪音監測等多功能服務特性。期透過5G AIoT成果來展現臺灣於全球5G供應鏈中,足以擔任優質且可信賴之夥伴,進而吸引更多國際合作業者,以此擴展市場並提升競爭力。 為加強臺廠與國際業者之鏈結,經濟部工業局特於展前(27日)辦理「2023台日搭橋論壇暨台灣產業合作說明會」,邀請日方通傳產業分享日本當地5G發展現況及切入點,我方則將由亞旭、光寶、雲達及智宏網分享5G系統及應用解決方案,深化我國資通訊產業與日方之交流,彰顯臺灣在通信技術領域的優勢,進一步提升全球通信技術領域的影響力和競爭力。 於「COMNEXT次世代通信技術展」6月28日至30日展期間,臺廠在工業局帶領下,將以「5G Team Taiwan」於西展示館展出。「COMNEXT次世代通信技術展」前身為日本通信放送週,於2023年正式更新會展名稱為COMNEXT,主要聚焦於次世代通訊相關技術,主題涵蓋6G、5G專網、物聯網應用、光通訊、8K視訊傳輸。2022年度吸引近200家國際業者參展,觀展買主近18,000人參與,受到國際知名大廠如NTT DOCOMO、KDDI、SoftBank、NEC、Rakuten Mobile、FUJITSU等支持,蔚為通信技術之盛會。 關於經濟部工業局 經濟部工業局為臺灣經濟部所屬之行政機關,執掌全國工業政策定任務,監管臺灣多元產業發展,包括金屬機電、電子資訊、民生化工、知識服務、永續發展等產業。經濟部工業局亦為推動臺灣智慧城市計畫之主管機關,該計畫旨在善用各種智慧技術(如物聯網、大數據和人工智慧),以有效整合地方、產業和民間需求。 關於財團法人資訊工業策進會 財團法人資訊工業策進會(簡稱資策會)自成立以來,參與規劃研擬並推動公共資訊產業政策。資策會透過公私協力,致力資通訊前瞻研發、普及與深化資訊應用、培育資訊科技人才及參與國家資訊基礎建設等各項業務。資策會作為數位轉型的化育者(Digital Transformation Enabler),以策進臺灣資通訊科技之創新與應用、協助數位經濟發展為宗旨。
SHANGHAI, June 12, 2023 /PRNewswire/ -- Noah Holdings Limited (the "Company" or "Noah") (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider in China offering comprehensive one-stop advisory services on global investment and asset allocation primarily for high net worth investors, today announced that its annual general meeting (the "AGM") was held in Hong Kong on June 12, 2023 and all the proposed resolutions submitted for shareholders' approval as set forth in the notice of the AGM dated April 24, 2023 were duly passed at the AGM. The Company also announced that it will distribute a final dividend of RMB5.5 (equivalent to US$0.8, or HK$6.2, based on the effective noon buying rate for December 30, 2022 as set forth in the H.10 statistical release of the U.S. Federal Reserve Board) per ordinary share (tax inclusive) (with an aggregate amount of approximately RMB176.5 million (equivalent to US$25.6 million, or HK$199.9 million) (tax inclusive), subject to adjustment to the number of ordinary shares of the Company entitled to dividend distribution as of the record date for dividend distribution, and the equivalent U.S. dollars amount and Hong Kong dollars amount are also subject to exchange rate adjustment) in respect of the year ended December 31, 2022 to shareholders whose names appear on the register of members of the Company as of the close of business on June 27, 2023 (the "Final Dividend"). The Final Dividend payable shall be converted to and paid in U.S. dollars (for ADS holders) and in Hong Kong dollars (for registered holders of the ordinary shares). ABOUT NOAH HOLDINGS LIMITED Noah Holdings Limited (NYSE: NOAH) is a leading and pioneer wealth management service provider in China offering comprehensive one-stop advisory services on global investment and asset allocation primarily for high net worth investors. In the first quarter of 2023, Noah distributed RMB16.8 billion (US$2.4 billion) of investment products. Through Gopher Asset Management, Noah had assets under management of RMB157.6 billion (US$22.9 billion) as of March 31, 2023. Noah's wealth management business primarily distributes private equity, public securities and insurance products denominated in RMB and other currencies. Noah delivers customized financial solutions to clients through a network of 1,327 relationship managers across 68 cities in mainland China, and serves the international investment needs of its clients through offices in Hong Kong (China), Taiwan (China), New York, Silicon Valley and Singapore. The Company's wealth management business had 440,664 registered clients as of March 31, 2023. Through Gopher Asset Management, Noah manages private equity, public securities, real estate, multi-strategy and other investments denominated in Renminbi and other currencies. Noah also provides other businesses. For more information, please visit Noah at ir.noahgroup.com. SAFE HARBOR STATEMENT This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause Noah's actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management and asset management market in China and internationally; its expectations regarding demand for and market acceptance of the products it distributes; investment risks associated with investment products distributed to Noah's investors, including the risk of default by counterparties or loss of value due to market or business conditions or misconduct by counterparties; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industries in China and internationally; general economic and business conditions in China; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah's filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law.
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