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LISHUI, China, Aug. 28, 2023 /PRNewswire/ -- CN Energy Group. Inc. (Nasdaq: CNEY) (the "Company"), a high-tech enterprise specializing in cogeneration of high-quality wood-activated carbon and clean energy, today filed its unaudited financial statements for the six months ended March 31, 2023. The Company reported $22.67 million in revenue for the first six months of fiscal year 2023, an increase of 66.1% as compared to the first six months of fiscal year 2022. The increase was mainly due to an increase in sales volume of activated carbon during the first half of fiscal year 2023. The Company's net loss was $4.17 million, resulting in a loss per share of $0.09 in the first six months of fiscal year 2023, as compared to earnings per share of $0.05 in the first six months of fiscal year 2022. The decrease was mainly due to an increase in the cost of research and development and expenses related to the development of new customers. The Company's expenditure on research and development increased by 69.5% from approximately $0.34 million in the first six months of fiscal year 2022 to approximately $0.58 million in the first six months of fiscal year 2023. Meanwhile, total assets grew by 44.4% from approximately $94.94 million as of March 31, 2022 to approximately $137.17 million as of March 31, 2023. The Company expanded its customer base beyond pharmaceutical and food industries and into sewage treatment and gas treatment in municipal solid waste incineration power plants. These two new customer segments resulted in an increase of 3,772 tons in sales volume for the six-month period ended March 31, 2023,representing additional sales revenue of approximately $6.04 million. The Company revamped its marketing strategy by expanding sales channels into diversified subdivided sectors with 19 customers, which are expected to increase to 22 customers by the end of fiscal year 2023. Additionally, the Company expanded the activated carbon business with 10,323 tons in new customer sales for the six months ended March 31, 2023, with sales revenue totaling approximately $14.75 million. Management Commentary Ms. Xinyang Wang, Chairwoman of the Board of the Company, said, "The adjustment in our marketing strategy has enabled us to expand our sales channels while concurrently developing additional customers and diversifying our customer base to reduce economic risk. In the next stage of our business development, we plan to further consolidate operations in our existing markets and strengthen the development of our international business." About CN Energy Group. Inc. With patented proprietary bioengineering and physiochemical technologies, the Company has pioneered and specialized in producing high-quality recyclable activated carbon and renewable energy from abandoned forest and agricultural residues, converting harmful wastes into a valuable product and delivering significant financial, economic, environmental, and ecological benefits. The Company's products and services have been widely used by food and beverage producers, industrial and pharmaceutical manufacturers, as well as environmental protection enterprises. For more information, please visit the Company's website at www.cneny.com Forward-Looking Statements Certain statements, other than statements of historical facts, made in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including the further spread of the COVID-19 virus or new variants thereof, or the occurrence of another wave of cases and the impact it may have on the Company's operations and the demand for the Company's products, and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial conditions, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to refer to its filings with SEC, including without limitation, Company's registration statements and other filings with the SEC that set forth certain risks and uncertainties that may have an impact on future results and directions of the Company. Investor Relations Contact: TraDigital IRKevin McGrath+1-646-418-7002kevin@tradigitalir.com
The anticipated annual capacity gain of the Project is expected to reach US$412 million SHENZHEN, China, Aug. 28, 2023 /PRNewswire/ -- TD Holdings, Inc. (Nasdaq: GLG) ("the Company"), a commodities trading service provider in China, today announced that it has entered into a strategic cooperation agreement (the "Agreement") with Shenzhen Jintongyuan Energy Storage Technology Co., Ltd. ("Jintongyuan"), a leading tech enterprise specializing in the R&D and production of high-performance energy storage batteries in China, to develop a storage battery project(the "Project") in southeast Asia. The Project represents the Company's ambition of stepping into the renewable energy storage battery market of southeast Asia. Pursuant to the strategic framework, both parties agree to establish a joint venture (the "JV") named Baiyu Energy Storage Technology Co. Ltd. in China. The Company and Jintongyuan will hold a 51% and a 49% equity interest of the JV, respectively. The Company agrees to take in charge of marketing and sales of the Project and Jintongyuan agrees to take in charge of R&D and energy storage battery production of the Project. Once completed, the anticipated annual capacity gain of the Project is expected to reach RMB 3.0 billion (approx. US$412 million), which will significantly boost the Company's gain and performance in the foreseeable future. In this strategic partnership, Southeast Asia is in the spotlight, thanks to its sizable population, booming economy, and business-friendly policies. Jintongyuan, already a frontrunner in battery innovation, plans to power industries from electric cars and transportation to healthcare, smart homes, and smart lighting. Ms. Renmei Ouyang, CEO of TD Holdings, Inc., shared her enthusiasm, and stated, "Our strategic partnership with Jintongyuan is designed to strengthen our foothold in the global renewable energy market. By focusing on the development and deployment of advanced energy storage batteries, we aim to bolster our profitability and establish a technology-driven ecosystem in the renewable energy sector. This approach ensures that our customers benefit from competitive, high-quality energy storage solutions." About Shenzhen Jintongyuan Energy Storage Technology Co., Ltd. Shenzhen Jintongyuan Energy Storage Technology Co., Ltd. stands as a leading tech enterprise specializing in the R&D and production of high-performance energy storage batteries. With a commitment to offering comprehensive solutions for global new energy storage systems and specialized domains, their product range spans sectors including electric vehicles, transportation, healthcare, smart homes, energy storage, and intelligent lighting. Upholding values of exceptional integrated development and design, optimal cost control paired with a quality-first approach, and efficient marketing strategies, Jintongyuan ensures both domestic and international clients benefit from safe, lightweight, and reliable green energy products. About TD Holdings, Inc. TD Holdings, Inc. is a service provider currently engaging in the commodities trading business and supply chain service business in China. Its commodities trading business primarily involves purchasing non-ferrous metal products from upstream metal and mineral suppliers and then selling to downstream customers. Its supply chain service business primarily has served as a one-stop commodity supply chain service and digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information, and futures trading. For more information, please visit http://ir.tdglg.com. Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of TD Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company's operations; the demand for the Company's products and services, global supply chains and economic activity in general; the occurrence of any event, change or other circumstances; and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission by TD Holdings, Inc. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. For more information, please contact: Ascent Investor Relations LLCMs. Tina XiaoEmail: tina.xiao@ascent-ir.comTel: +1 917 609 0333
SEATTLE, Aug. 28, 2023 /PRNewswire/ -- ProfoundBio, a clinical-stage biotechnology company focused on the development of novel antibody-drug conjugate therapeutics for cancer, announced that management will be participating in one-on-one meetings at the Morgan Stanley 21st Annual Global Healthcare Conference at the Sheraton New York Times Square Hotel which will take place in New York City on Sept 11-14, 2023. Investors and Media Contact:ir@profoundbio.com About ProfoundBio ProfoundBio is a clinical-stage biotechnology company focused on the development of novel antibody-based therapeutics with curative potential for patients with cancer. Built on internally developed, innovative, and proprietary technology platforms, ProfoundBio has developed a pipeline consisting of multiple antibody-drug conjugate (ADC) drug candidates targeting solid tumors and hematological malignancies that are in discovery, preclinical, and clinical development stages. The company's lead clinical stage programs are rinatabart sesutecan (PRO1184), an ADC targeting folate receptor alpha, and PRO1160, an ADC targeting CD70. ProfoundBio is headquartered in Seattle, WA, USA with R&D operations in Suzhou, China. For more information, please visit www.profoundbio.com.
Mainland China retains largest operational capacity in Asia Pacific at 3.8GW Beijing and Shanghai the only cities in the region with >1GW operational capacities Hong Kong data center space expected to grow 34% in coming three years HONG KONG SAR - Media OutReach - 28 August 2023 - Data centers across Asia Pacific are growing in scale and new markets are being evaluated for expansion as operators anticipate increased demand from continued digitization and wider adoption of artificial intelligence. According to Cushman & Wakefield's latest Asia Pacific Data Centre Update, mainland China retains its position as the dominant data center market in Asia Pacific, with the largest operational capacity at 3.8 gigawatts (GW), almost 40% of the regional total, followed by Japan at 1.1GW and Australia at 1.1GW. Five cities — Beijing, Shanghai, Singapore, Sydney and Tokyo — account for 62% of the operational data center capacity in Asia Pacific, with Sydney and Tokyo expected to join Beijing and Shanghai in the next one to two years as cities exceeding 1GW of operational capacity. The region's primary markets, including Hong Kong, continue to experience growth despite challenges originating from a limited supply of land parcels and power availability. To help support the industry, the Hong Kong government has implemented initiatives such as the Data Centre Facilitation Unit (DCFU), which aims to attract significant investment, enhance infrastructure, facilitate industry collaboration, and ensure a conducive environment for data center operations. John Siu, Managing Director, Hong Kong at Cushman & Wakefield, said: "Hong Kong is a robust data center market offering excellent regional and global connectivity, and availability of all major cloud networks. As a global financial and business capital, strategic location as a gateway to mainland China and for its globally lowest taxed data center jurisdiction, there has been strong demand from data center investors and operators that have triggered a high volume of transactions over the last few years. "The tight land supply and waiting times for power supply are challenges to industry expansion. However, we forecast that more than 3 million sq ft of new data center space will be completed in the next three years, representing growth of 34% on current stock. We can expect this supply boost to further attract related technology companies and operators from both the mainland and from overseas to expand in Hong Kong." As a result of the supply challenges in primary markets, ancillary locations are also being evaluated as part of expansion strategies. Such emerging markets are now growing rapidly, with Indonesia, Malaysia, the Philippines and Thailand all on track to more than double [>200% increase] their operational capacity over the next five to seven years. Pritesh Swamy, Director, Data Centers Research & Advisory for APAC and EMEA at Cushman & Wakefield, said that significant land banking in mature markets, coupled with growing data consumption, was leading operators to explore secondary markets. "The potential capacity of land banks in some mature markets is more than the combined under-construction and planned pipelines. While it could take more than 10 years to develop these land banks, operators have started to explore other locations." He said cities with populations of over 1 million were often seen as strategic locations for smaller data centers. "Smaller data centers can be used to cater for the local population or for operators to show their enterprise clients that they have a presence in strategic markets and growth corridors." The report also shows that the scale of individual data centers is increasing. Within the top five markets, the average size of data centers under construction is up 32% to 20MW, from an average size of 15MW for data centers currently in operation. Across the broader Asia Pacific region, the percentage difference is even higher, with the average size of data centers under construction (14.5MW) 57% higher than the average size of operational data centers (9.2MW). Maturity Index Extrapolates Growth Trajectories to Provide Future Insights Supplementing the company's global annual ranking of data center markets, which assesses data center markets on their current status, the latest Asia Pacific Data Centre Update also includes a Markets Maturity Index, which classifies 29 data center cities across four categories (Emerging, Developing, Established and Powerhouse), based on their anticipated evolution over the next five to seven years. As an example of its application, the Maturity Index classifies Mumbai (which currently has 462MW in operation) ahead of Sydney (724MW) within the Powerhouse category after taking into account, among other factors, its under-construction pipeline of 342MW, which is the highest in APAC. Beijing, Shanghai and Tokyo also make the Powerhouse category, with each of the five markets having the development pipeline to surpass 2GW in operational capacity over the next five to seven years. Figure 1: Asia Pacific Markets Maturity Index Cushman & Wakefield's Asia Pacific Markets Maturity Index charts the evolution of 29 data center markets based on parameters including the operational, under construction, planned and land banked IT MW capacity. Note that Northern Virginia is not to scale. Please click here to download the full report. Note to Editors The Maturity Index is a statistical comparison evaluating markets on 21 parameters, including the IT MW capacities of each market's operational, under construction, planned and land banked stages of development, as well as vacancy rates, the number and average size of data centers based on their status, the number of operators that have operational data centers in each market, and the number of new operators planning to enter the market. These data points are stacked into a parameter matrix and weighted to derive their overall growth score - the higher the growth score, the more evolved the market. Hashtag: #CushmanandWakefieldThe issuer is solely responsible for the content of this announcement.About Cushman & WakefieldCushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2022, the firm reported global revenue of US$10.1 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail, and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
GUANGZHOU, China, Aug. 28, 2023 /PRNewswire/ -- On August 24th, the ChiNext board celebrated 3rd anniversary of registration-based IPO reform. The ChiNext board served as one of the main channels of equity financing for innovation-driven small and medium-sized enterprises whilst the registration system fostered market-oriented development and encouraged investor engagements. Over the past three years, 500 companies, or nearly 40% of all ChiNext-listed companies, have been listed through the new IPO system with RMB 500 billion (USD 69.3 billion) capital raised, and the aggregate market capitalization surpassed RMB 3 trillion (USD 414 billion). Of these listed companies, more than 90% are recognized as high-tech companies, operating in fields including information technology, advanced equipment, and new materials. As of August 23rd, 385 ChiNext-listed companies posted solid performance in semi-annual reports with total revenues of RMB 726 billion (USD 100 billion, +15% YoY) and total net profits of RMB 65.8 billion (USD 9.1 billion, +17% YoY), demonstrating their potential in driving economic growth. In particular, 74 companies delivered net profit growth of over 50% YoY. Investor sentiment remained upbeat, supported by Wind's consensus estimate of over 30% yearly increase in the total net profits of the ChiNext index's constituents. Backed by strong fundamentals, the ChiNext index has gained the attention of investors during the market swing. There are 26 ETFs tracking ChiNext board, which have attracted RMB 32 billion (USD 4.4 billion) net inflows, as of August 23rd, and E Fund ChiNext ETF was at the top of the list with approximately 50% market share by AuM. In recent years, the ChiNext board has accelerated its pace of cultivating the multi-tiered product system and E Fund Management ("E Fund") took proactive actions to cope with the trend. In September 2022, the launch of ChiNext Board ETF Option with E Fund ChiNext Board ETF as the underlying security marked the debut of the first exchange-listed standardized derivative on the ChiNext board and illustrated its dedication to provide risk management instruments for investors. In July 2022, the inclusion of E Fund ChiNext ETF to the ETF connect program allowed foreign investors to invest in the ChiNext board. While Mr. Pang Yaping, Head of Index Research Department at E Fund, believed that the ChiNext board could ride the tailwinds of the country's economic growth, industry insiders expected massive, coordinated stimulation efforts from China Securities Regulatory Commission to restore investor confidence and create a supportive environment for ChiNext board. About E Fund Management Established in 2001, E Fund Management Co., Ltd. ("E Fund") is a leading comprehensive fund manager in China with close to RMB 3 trillion (USD 414 billion) under management. It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. E Fund's clients include both individuals and institutions, ranging from central banks, sovereign wealth funds, social security funds, pension funds, insurance, and reinsurance companies, to corporates and banks. Long-term oriented, it has been focusing on the investment management business since inception and believes in the power of in-depth research and time in investing. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers.
OKX HK users can now buy crypto with HKD or USD and enjoy a 5% reward in Bitcoin for their first purchase HONG KONG, Aug. 28, 2023 /PRNewswire/ -- OKX, a leading global crypto exchange and Web3 technology company, today announced that it has launched a bitcoin reward program for Hong Kong users of the platform's Buy Crypto with Card feature, which facilitates users' purchase of virtual assets directly via credit or debit cards. For a limited time, Hong Kong users buying virtual assets for the first time on OKX Hong Kong can receive a 5% direct-to-wallet reward in bitcoin on fiat-to-virtual asset purchases* made directly via credit or debit cards. OKX is one of the first companies in Hong Kong to offer a Bitcoin reward for virtual asset purchases. The new program demonstrates OKX's ongoing commitment to facilitating mass adoption and accessibility of virtual assets, which are increasingly being adopted by professional and retail investors across the city. The Buy Crypto with Card feature is now available on web and will be available soon on app versions** of OKX HK for Hong Kong users, providing a seamless and convenient experience for both first-time and seasoned users to buy virtual assets with either HKD or USD using Visa and Mastercard credit and debit cards directly. OKX Global Chief Commercial Officer Lennix Lai said: "OKX Hong Kong continues to grow rapidly, with new users more than doubling in the last month. As the city develops as an international Web3 and virtual assets hub, market education and adoption are crucial. Through our Buy Crypto With Card feature and reward program in Hong Kong, we aim to enable a user-friendly virtual asset experience for existing and potential customers." Hong Kong users can currently buy, sell and hold up to 16 major cryptocurrencies, including BTC and ETH, on OKX's platform. Notes: *For further details and the terms & conditions of OKX's 5% Bitcoin reward program, please refer to this landing page. **Users can access this feature immediately at okx.com. Updates will be rolling out on Google Play Store for Android devices and on the App Store for iOS devices soon, with app versions 6.30.0 and above. About OKX OKX is a leading global crypto exchange and Web3 ecosystem. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere. As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3. Beyond OKX's exchange, the OKX Wallet is the platform's latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens. OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis. To learn more about OKX, download our app or visit: okx.com Disclaimer This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.
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