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Zhuyou Intelligent Manufacturing Technology (00726.HK) enters into an agreement for decoration engineering and landscape engineering.
source
https://cj.sina.com.cn/articles/view/5115326071/130e5ae7702001dq4n
June 17, 2021 17:16 Gelonghui APP
Zhuyou Zhizao Technology (00726.HK) issued an announcement that on June 17, 2021, Zhuyou Zhizao Decoration and Zhuyou Zhizao Youzhi Construction Technology entered into a decoration engineering agreement and a garden landscape engineering agreement respectively. According to this, Zhuyou Zhizao Decoration and Zhuyou Intelligent Garden must enter into a contract for the construction of Zhuyou Zhizao Construction Technology’s three business premises in China. Decoration and landscape engineering.
The announcement stated that the group has the ability to provide fast and efficient decoration and landscape engineering at various construction sites signed by the decoration engineering agreement and the landscape engineering agreement. The group has participated in a number of large-scale decoration and garden landscape projects with a good track record. The Group can make full use of its technical expertise and experience to carry out the above-mentioned decoration and garden landscape projects. The Group believes that it can generate additional revenue and increase brand awareness through the decoration engineering agreement and the landscape engineering agreement.
STOCK OWNERSHIP AFTER CONVERSION OF ALL OPTIONS & WARRANTS PLUS THOSE EXERCISEABLE WITHIN THE NEXT 60 DAYS as of May 30, 2021
% OF STOCK OWNERSHIP AFTER CONVERSION OF ALL OPTIONS & WARRANTS PLUS THOSE EXERCISEABLE WITHIN THE NEXT 60 DAYS as of May 30, 2021
source
https://sec.report/Document/0001575705-21-000341/
as of May 30, 2021
Stewart Wallach - Chairman of the Board & Chief Executive Officer
Stock ownership after conversion of all options & warrants 9.831.745 shares = 19.8 %
- He has extensive experience in executive management of companies.
- He has experience in growing operations and merger and acquisition transactions.
- He has extensive experience in arranging the design, development and production of products in foreign nations for shipment and sale in the U.S. and conducting business abroad.
- His experience provides insight for the implementation of effective operational, financial and strategic leadership of the Company.
James Gerry McClinton - Chief Financial Officer and Director
Stock ownership after conversion of all options & warrants 33.664 shares = 0.1 %
- He has a degree in accounting.
- He has prior practical experience in corporate accounting.
- He has executive operational experience, including acting as a chief financial officer.
- His invaluable experience in finance and accounting provides insight for the implementation of effective operational, financial and strategic leadership of the Company.
Jeffrey Postal - Director
Stock ownership after conversion of all options & warrants 9.334.120 shares = 18.8 %
- He has extensive experience in investing in companies.
- He has extensive experience in management and business,
- He has experience growing a company and mergers and acquisitions.
Jeffrey Guzy - Independent Director
Stock ownership after conversion of all options & warrants 452.800 shares = 1.0 %
- Through his MBA in Strategic Planning & Management and his knowledge of U.S. capital markets, Mr. Guzy provides invaluable guidance and perspective to the Board.
- He serves and has served as an officer and director of public companies and worked for large corporations in business development. He brings this experience to the Board.
Larry Sloven - President & Managing Director
Stock ownership after conversion of all options & warrants 52.800 shares = 0.1 %
- He has extensive experience in conducting business in foreign nations and international business, especially China and Southeast Asia, and he brings this valuable experience to the Board.
Aimee C. Brown - Director of Administration
Stock ownership after conversion of all options & warrants 70.000 shares = 0.1 %
All officers & Directors as a group
Stock ownership after conversion of all options & warrants 19.775.129 shares = 39.9 %
Total shares after conversion of all options & warrants 49.563.031 shares.
Verimatrix Protects Recode Health’s STRIVE Benefits Mobile App.
source
https://finance.yahoo.com/news/verimatrix-protects-recode-health-strive-154500814.html
Wed, June 16, 2021, 5:45 PM
Leading Innovator in Employee Engagement Space Labels Verimatrix Application Shielding an Efficient, Robust Choice.
Verimatrix,
https://www.verimatrix.com/
(Paris:VMX) (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, [b[color=green]]today announced its application shielding solutions were selected by Oakland, California-based Recode Health to protect its STRIVE Benefits mobile app.[/color]
https://strivebenefits.com/
Serving as the SaaS benefits communication platform of choice for thousands of businesses throughout the United States, STRIVE’s mobile app aims to modernize employer-employee relations by seamlessly educating employees so that they stay ahead of the curve and have fingertip access to their benefits guides, balances, financial information and other customizable data. Due to the sensitive nature of the information within the app, such as telemedicine and Rx integrations to save on healthcare costs, the STRIVE management team prioritizes its cybersecurity stance and looked to ensure that its mobile app is as secure as possible.
"The protection of employer and employee data is paramount at STRIVE," said Saravanan Chettiar,
https://www.linkedin.com/in/saravanan-chettiar-57b96/
CEO at STRIVE Benefits. "As we continue to nearly double our business each year, we know this momentum is built on innovation as well as trust. As such, we routinely go through vulnerability testing and we looked to be sure that cybercriminals lacked a path inside our mobile app. Verimatrix enabled us to conduct an efficient and robust trial that proved successful at preventing reverse engineering and gained a solid stamp of approval from our eagle-eyed auditors. It was a seamless and straightforward decision to choose Verimatrix."
With compliance top of mind, both from a regulations perspective and a partner/customer standpoint, the many large organizations that STRIVE Benefits works with are reassured by its use of proven cybersecurity leaders to safeguard against bad actors.
"Verimatrix is proud to call STRIVE one of its latest mobile app customers," said Asaf Ashkenazi,
https://www.linkedin.com/in/asafashkenazi/
Chief Operating Officer at Verimatrix. "As an innovator in a complex space, STRIVE continually works with private information that’s empowering and helpful, but also potentially valuable to cybercriminals who prey on private information. When an employee logs in to STRIVE’s app, there’s little that’s more important than trust and security – and we’re pleased to work with STRIVE to ensure its overall protection posture remains strong."
About STRIVE Benefits
Built from frustrated employees of both small and large companies, STRIVE was created to elevate the employee experience at work by making them feel more engaged and productive as well as happier and healthier. There are simply no tools out there to help employees navigate healthcare. STRIVE fills the void. Whether it’s mobile or web-based, STRIVE meets employees at their time of need and delivers critical information. By re-imagining the employee engagement space, STRIVE enables employers to easily address their specific needs through a quickly-implemented, user-friendly platform.
Visit
https://strivebenefits.com/
About Verimatrix
Verimatrix (Euronext Paris: VMX) helps power the modern connected world with security made for people. We protect digital content, applications, and devices with intuitive, people-centered and frictionless security. Leading brands turn to Verimatrix to secure everything from premium movies and live streaming sports, to sensitive financial and healthcare data, to mission-critical mobile applications. We enable the trusted connections our customers depend on to deliver compelling content and experiences to millions of consumers around the world. Verimatrix helps partners get to market faster, scale easily, protect valuable revenue streams, and win new business.
Visit
https://www.verimatrix.com/
Contacts
Investor Relations Contact:
Richard Vacher Detournière
General Manager & Chief Financial Officer
+33 (0)4 42 905 905
finance@verimatrix.com
Media Contact:
Matthew Zintel
+1 281 444 1590
matthew.zintel@zintelpr.com
Verimatrix COO Asaf Ashkenazi To Present at Questex’s 2021 StreamTV Show.
source
https://finance.yahoo.com/news/verimatrix-coo-asaf-ashkenazi-present-154500663.html
Mon, June 14, 2021, 5:45 PM
Partner Keynote Session on June 15 to Highlight How Anti-Piracy and DRM Serve as Growth Enablers for Streaming Services.
Verimatrix, (Paris:VMX), the leader in powering the modern connected world with people-centered security, today announced that COO Asaf Ashkenazi is slated to present a partner keynote session during the virtual StreamTV Show.
https://www.streamtvshow.com/
The event is free and registration is available here:
https://pages.questexnetwork.com/StreamTVShow-InGoRegistration-061521.html
Scheduled to take place at 4 p.m. Eastern Time on Tuesday, June 15, Ashkenazi’s session is titled, "Security That Enables Amazing." Aiming to educate viewers on the latest threats to streaming services, he will also outline the specific approaches to combating them while enabling new types of events and spawning new products. The keynote will introduce how to disrupt the pirates’ business model and dissuade them from their efforts in the first place.
Scheduled to take place at 4 p.m. Eastern Time on Tuesday, June 15, Ashkenazi’s session is titled, "Security That Enables Amazing."
https://streamtv2021.sched.com/event/iXlp?iframe=no
Aiming to educate viewers on the latest threats to streaming services, he will also outline the specific approaches to combating them while enabling new types of events and spawning new products. The keynote will introduce how to disrupt the pirates’ business model and dissuade them from their efforts in the first place.
"While video consumption has evolved, so have piracy and other threats – making it more important than ever for streaming services to fight fire with fire," Ashkenazi said. "We’re proud to serve as a diamond sponsor of this year’s StreamTV Show and look forward to this highly-acclaimed online venue to discuss the opportunities that arise when proper anti-piracy and DRM methods are deployed. Committed to helping organizations confidently deliver experiences people love at the speed people live today, Verimatrix meets next-gen specifications and helps businesses expand into new markets with no fear."
The StreamTV Show takes place June 15-17. Produced and managed by Questex, it’s widely known as the industry’s largest streaming video event.
For more information, visit
https://www.streamtvshow.com/
The StreamTV Show is supported by the event’s official publication, Fierce Video,
https://www.fiercevideo.com/
the streaming TV industry’s daily monitor.
About Verimatrix
Verimatrix (Euronext Paris: VMX) helps power the modern connected world with security made for people. We protect digital content, applications, and devices with intuitive, people-centered and frictionless security. Leading brands turn to Verimatrix to secure everything from premium movies and live streaming sports, to sensitive financial and healthcare data, to mission-critical mobile applications. We enable the trusted connections our customers depend on to deliver compelling content and experiences to millions of consumers around the world. Verimatrix helps partners get to market faster, scale easily, protect valuable revenue streams, and win new business.
To learn more, visit
https://www.verimatrix.com/
Contacts
Verimatrix Investor:
Richard Vacher Detournière
General Manager & Chief Financial Officer
+33 (0)4 42 905 905
finance@verimatrix.com
Verimatrix Media Contact:
Matthew Zintel
+1 281 444 1590
matthew.zintel@zintelpr.com
WIMI brings holograms to Wall Street and is ready to revolutionize our lives.
source
https://themillennial.it/tech/ologrammi-wimi-hologram-cloud-wall-street/
June 15, 2021
What is a hologram?
A hologram is a three-dimensional and stereoscopic image, that is, it appears with different perspectives depending on the point of observation. In essence, a hologram allows a previously recorded image to be reproduced with incredible precision.
How are holograms obtained?
The recording takes place through a beam of laser light sent towards the object to be reproduced, then towards a plate of sensitive material so thanks to a game of mirrors, the light interferes with that reflected by the object. Lines ( interference fringes ) are formed on the plate which contain information on the three-dimensionality to be obtained.
Holograms are an illusion of light. By illuminating the plate with a laser beam, it is possible to decode the information by reconstructing the three-dimensional image of the object.
WIMI Hologram Cloud
WIMI Hologram Cloud started in 2015. The Chinese company whose business operations provide comprehensive holographic cloud solutions and techniques . They focus on automotive holography (just recently WIMI's collaboration with Toyota ), holographic equipment, navigation systems, holographic software development technologies, entertainment technologies.
In short, for 6 years they have been a shining beacon in technological progress and aim to have a monopoly on the world of holograms before they are actually launched in the stock market. WIMI Hologram Cloud went public on the Nasdaq in September 2020, immediately arousing the curiosity of investors.
The arrival of WIMI in the world of the bag could not go unnoticed. The stock market is preparing to welcome this huge new technological sector dedicated to holograms and Wall Street is keeping its ears open. In fact, investment house forecasts expect WIMI to reach $ 500 billion by 2025.
What is WIMI doing?
WIMI is already the largest holographic application platform in China and is about to materialize in the West as well. In addition, it has just created the most comprehensive and diverse holographic content library of all solution providers in 2018-2020. WIMI ranks first in the industry in terms of revenue, number of customers, holographic content, AR patents and software copyrights.
WIMI's holographic goals in the near future?
WIMI aims to promote innovation and industrial development through the construction of huge infrastructures; economic development must be guided and supported at every stage. The strategy of developing new infrastructures means that in China the economic apparatus are required to carry out large-scale investments and construction in the relevant sectors and to create many business opportunities for activities that in a few years' time could make WIMI a technological giant like Tesla and by Amazon.
What WIMI will try to do is to integrate holograms into the daily routine of working days , make them participate in all the moments of social life and in some way translate the idea of ??the hologram as a "niche tool" to a "daily friend hologram". To do this, WIMI will have to push its potential and diversify its products based on many customer needs. A project that will take time (we are talking about months, not years anyway) and that could revolutionize the online world as we know it now.
CloudMD Appoints Karen Adams as President and Provides Update on Oncidium Acquisition.
source
https://finance.yahoo.com/news/cloudmd-appoints-karen-adams-president-113000578.html
Wed, June 16, 2021, 1:30 PM
- Karen Adams is appointed President of the Company to deliver on growth strategy and operational effectiveness.
- Dr. Amit Mathur is appointed to newly created leadership role, President, US Operations, to focus on expansion into the United States.
- Oncidium acquires an organization specializing in independent medical evaluations and health-related services.
- Strategic tuck-in adds $17 million to Oncidium’s revenue run rate.
CloudMD Software & Services I, a healthcare technology company revolutionizing the delivery of care, and its Board of Directors is pleased to announce the appointment of Karen Adams as President of the Company effective June 21, 2021. In her new role as President of CloudMD, Karen will deliver on the Company’s growth strategy and operational effectiveness, while leveraging technology to enable access to care. Karen will continue to oversee Employee Health Solutions (“EHS”) as a core component of her expanded portfolio.
The Company’s previous President, Dr. Amit Mathur, will now take on the primary responsibility of delivering CloudMD’s expansion into the United States, a key component of the corporate strategy. Dr. Mathur’s appointment to the newly created leadership role of President, US Operations is effective June 21, 2021.
Our Company is rapidly growing and I am very proud of the entire team on its ability to continue executing and delivering on our growth strategy. The increasingly complex landscape of the public and private healthcare sector supports our mission of building one, connected healthcare ecosystem through navigation, coordination and seamless delivery of services that addresses all points of a patient’s care,” explained Dr. Essam Hamza, Chief Executive Officer of CloudMD. “Karen has an impressive track record of developing talent, driving innovation and delivering financial performance both within CloudMD and across multiple health and wellness industry sectors. Dr. Amit Mathur is a valuable member of our senior management team and I am excited for him to have a more focused role of leading our expansion in the US and developing a scalable organization.” He concluded, "I look forward to working with both Karen and Amit in their new roles and the rest of our senior management team as we continue to strengthen our rapid but disciplined growth."
Oncidium Acquisition
Further to the recent announcement of the acquisition of Oncidium Inc., the Company is pleased to announce that Oncidium has acquired an organization specializing in independent medical evaluations and health-related services with 30 years of experience in the provision of these services to life & health providers, insurers, law firms and employers. The business is complementary to the existing assessment services division of Oncidium and will enable cost saving synergies through consolidation and integration. The business has also developed a market leading, workflow management solution that Oncidium and CloudMD will be able to incorporate company-wide. The highly accretive business generated $17 million in revenue with positive earnings before interest, tax, depreciation and amortization (“EBITDA”) for the 12 month period ending April 2021, and as such, the expected revenue for Oncidium, including the newly acquired business, is significantly increased, while the overall purchase price of Oncidium remains unchanged. CloudMD expects to close the acquisition of Oncidium this month.
Restricted Share Unit Grant
The Company has granted of an aggregate of 141,000 restricted share units (each, an “RSU”), with an award date of June 21, 2021, to certain officers and directors of the Company under the Company’s RSU Plan pursuant to the policies of the TSX Venture Exchange. Each RSU represents the right to receive, once vested, one common share in the capital of the Company for every RSU held.
The granting of RSUs are subject to any necessary regulatory approvals and requirements of the Exchange.
About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI).
CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, and over 5 million individuals across North America. CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers a comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
For more information visit:
https://investors.cloudmd.ca/
ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer
FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker
VP, Investor Relations
julia@cloudmd.ca
(604)785-0850
00726 - Zhuyou Zhizao Technology: Voluntary announcement of directors' increase in equity.
source
https://finance.sina.com.cn/stock/relnews/hk/2021-06-11/doc-ikqciyzi9130785.shtml
June 11, 2021 18:03 Stock Exchange--Easy Disclosure
DIT GROUP LIMITED Zhuyou Intelligent Manufacturing Technology Group Co., Ltd.
(Incorporated in Bermuda with limited liability)
(Stock code: 726)
Voluntary announcement of directors’ increased shareholding.
This announcement was made voluntarily by Zhuyou Zhizao Technology Group Co., Ltd.
The board of directors of the company was informed by Mr. Guo Weiqiang ("Mr. Guo", the executive director and chief executive officer of the company) that it will be held on June 10, 2021 and June 10, 2021. On the 11th, he acquired 400,000 shares and 700,000 shares of the company at an average price of approximately HK$0.967 and approximately HK$0.949 per share in the open market, for a total of approximately HK$386,950 and HK$664,350. Mr. Guo has full confidence in the future prospects of the company and believes that the company will continue to grow and develop. Immediately after the acquisition, Mr. Guo was interested in 23,100,000 shares (including 21,000,000 shares granted under the company's share option plan but not yet exercised), which accounted for approximately 0.82% of the total issued share capital of the company as of the date of this announcement.
The company agrees with Mr. Guo's view that the shares are traded at prices that significantly underestimate the company's performance and potential value, and recognize their confidence in the company's prospects and intrinsic value and their long-term commitments to the company.
Subject to the requirements of applicable laws and regulations, Mr. Guo does not rule out the possibility of further increasing his equity in the company when deemed appropriate in the future.
By order of the board of directors
Zhuyou Zhizao Technology Group Co., Ltd.
Chairman and Executive Director
Liu Weixing
Hong Kong, June 11, 2021
As of the date of this announcement, the members of the board of directors are as follows: Mr. Liu Weixing (Chairman), Mr. Guo Weiqiang and Ms. Wang Jing are executive directors; Ms. Li Hua and Mr. Wang Jun are non-executive directors; Mr. Jiang Hongqing, Mr. Li Zhiming and Mr. Ma Lishan are independent non-executive directors. executive director.
WiMi Hologram Cloud Inc. Announces Merger of VIYI Algorithm Inc. and Venus Acquisition Corporation.
source
https://www.prnewswire.com/news-releases/wimi-hologram-cloud-inc-announces-merger-of-viyi-algorithm-inc-and-venus-acquisition-corporation-301310025.html
Jun 10, 2021, 09:00 ET
WiMi Hologram Cloud, Inc. (NASDAQ: WIMI) today announced that WiMi, VIYI Algorithm Inc., a company controlled by WiMi, and Venus Acquisition Corporation (Nasdaq: VENA),
https://finance.yahoo.com/quote/VENA/profile?p=VENA
a publicly traded special purpose acquisition company, have entered into a definitive merger agreement. A newly created merger subsidiary of Venus will be merged with and into VIYI Algo with VIYI Algo being the surviving entity and becoming Venus's wholly owned subsidiary. Upon closing of the transaction, Venus will change its name to MicroAlgo Inc. and continue as a Cayman Islands exempted company.
The merger is structured as a stock for stock transaction and is intended to qualify as a tax-free reorganization. The terms of the merger provide for a valuation of VIYI Algo and its subsidiaries and businesses of US $400,000,000. VIYI Algo is dedicated to the development and application of bespoke central processing algorithms. Central processing algorithms refer to a range of computing algorithms, including analytical algorithms, recommendation algorithms, and acceleration algorithms. VIYI Algo provides comprehensive solutions to customers by integrating central processing algorithms with software or hardware, or both, thereby helping them to increase the number of customers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and achieve technical goals. The range of VIYI Algo's services include algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. VIYI Algo's ability to efficiently deliver software and hardware optimization to customers through bespoke central processing algorithms serves as a driving force for VIYI Algo's long-term development.
Currently, VIYI Algo is focused on developing and delivering central processing algorithm solutions to customers engaged in internet advertisement and gaming, and intelligent chips. VIYI Algo's customer base is rapidly growing due to a general demand for more efficient data processing in various industries driven by the growing internet population and prevalence of AI. In the mid-to-long term, VIYI Algo will continue to adhere to its strategic mindset. By improving upon each iteration of VIYI Algo's one-stop intelligent data management solutions made possible by its proprietary central processing algorithm services, VIYI Algo can help customers to enhance their service efficiency and make model innovations in business, and actively enhance the industry value of the central processing algorithm services in the general field of data intelligent processing industry.
The boards of directors for both Venus and VIYI Algo have approved the proposed merger, which is expected to be completed by the end of third quarter of 2021, subject to, among other things, the approval by Venus' shareholders of the merger and other customary closing conditions, such as the U.S. Securities and Exchange Commission (the "SEC") completing its review of the registration/proxy statement and Nasdaq's approval for listing shortly.
Advisors
DLA Piper is acting as U.S. legal advisor to WiMi Hologram Could Inc. and VIYI Algorithm Inc. Maples and Calder (Hong Kong) LLP is acting as Cayman Islands legal advisor to VIYI Algorithm Inc. and Zhuo Ne Law Firm is acting as its PRC advisor.
Becker & Poliakoff is acting as U.S. legal advisor to Venus and Ogier is acting as its Cayman Islands legal advisor.
About WIMI Hologram Cloud Inc.
WiMi Hologram Cloud, Inc.(NASDAQ: WIMI), whose commercial operations began in 2015, is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.
For more information, please visit
http://ir.wimiar.com/
ABOUT VIYI ALGO
VIYI Algo is dedicated to the development and application of bespoke central processing algorithms. VIYI Algo provides comprehensive solutions to customers by integrating central processing algorithms with software or hardware, or both, thereby helping them to increase the number of customers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and achieve technical goals. The range of VIYI Algo's services include algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. VIYI Algo's ability to efficiently deliver software and hardware optimization to customers through bespoke central processing algorithms serves as a driving force for VIYI Algo's long-term development.
PARTICIPANTS IN THE SOLICITATION
Venus, VIYI Algo, certain shareholders of VIYI Algo, including WiMi, and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of Venus ordinary shares in respect of the proposed transaction. Information about Venus's directors and executive officers and their ownership of Venus' common stock is set forth in Venus's prospectus filed with the SEC on February 10, 2021. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement pertaining to the proposed transaction when it becomes available.
Verimatrix: Survey of Mobile Banking Security Experts Reveals Questionable Practices.
source
https://finance.yahoo.com/news/verimatrix-survey-mobile-banking-security-154500974.html
Wed, June 9, 2021, 5:45 PM
Despite Labeling Mobile Security as Important for Their Financial Institutions, CISOs Often Leave Mobile Application Security Decisions to Others.
Verimatrix, (Euronext Paris: VMX),
https://www.verimatrix.com/
the leader in powering the modern connected world with people-centered security, today announced the release of its commissioned ISMG
https://www.bankinfosecurity.com/
report titled, "The State of Mobile Banking App Security."
The full report is available for download at
https://www.verimatrix.com/ebooks/state-of-mobile-security/
Featuring responses from 150 financial services security professionals throughout the United States, Canada and EMEA, the report’s survey illustrates a notable disconnect between the importance placed on mobile apps and the attention it receives from the highest-level security professionals. Although 82 percent of respondents said securing the mobile channel was important or very important, just over half of CISOs report evaluating, influencing or deciding on mobile security.
More than 60 percent of respondents said they were confident about the level of security on their mobile apps, yet they admitted they outsourced mobile app development 50% of the time, or purchased a white label solution 19% of the time, meaning the chain of responsibility for app security is less verifiable than might be expected in the sector. A surprising 39% of respondents don't run vulnerability analysis and penetration tests on mobile channels.
In addition to tracking executive-level involvement and outsourcing trends, the report discusses the challenges surrounding developing and securing the mobile channel. It highlights banking security teams’ greatest concerns related to mobile banking as well as what types of mobile attacks are most prevalent and how today’s banking security executives are mitigating the risk.
"It’s clear that security professionals within the financial services sector understand just how critical mobile apps are to their business, but this must translate into more executive-level involvement when creating a strategy to protect their apps that ingest and deliver highly sensitive data," said Asaf Ashkenazi,
https://www.linkedin.com/in/asafashkenazi/
Chief Operating Officer at Verimatrix. "We’re pleased to sponsor this ISMG report that shows that words are one thing, deeds are quite another. Taking ownership of mobile app security early on is the key to secure users and save corporate reputations."
A summary of top findings includes:
- 82% of respondents consider securing the mobile channel to be important or very important for their financial institution.
- 69% perceive the mobile channel to be critical or very critical to their financial institution.
- 53% of CISOs are involved in evaluating, influencing or deciding on mobile security.
- Nearly 70% perceive the mobile channel to be critical or very critical for their financial institution.
- 60% are confident about the level of security on their mobile apps, and only 8% of those are extremely confident.
- Nearly 33% are worried or very worried about application/API hacks.
About ISMG
Information Security Media Group (ISMG) is the world’s largest media organization devoted solely to information security and risk management. Each of our 28 media properties provides education, research and news that is specifically tailored to key vertical sectors including banking, healthcare and the public sector; geographies from North America to Southeast Asia; and topics such as data breach prevention, cyber risk assessment and fraud. Our annual global summit series connects senior security professionals with industry thought leaders to find actionable solutions for pressing cybersecurity challenges.
Visit
https://ismg.io/
About Verimatrix
Verimatrix (Euronext Paris: VMX) helps power the modern connected world with security made for people. We protect digital content, applications, and devices with intuitive, people-centered and frictionless security. Leading brands turn to Verimatrix to secure everything from premium movies and live streaming sports, to sensitive financial and healthcare data, to mission-critical mobile applications. We enable the trusted connections our customers depend on to deliver compelling content and experiences to millions of consumers around the world. Verimatrix helps partners get to market faster, scale easily, protect valuable revenue streams, and win new business.
To learn more, visit
https://www.verimatrix.com/
Contacts
Verimatrix Investor Contact:
Richard Vacher Detournière
General Manager & Chief Financial Officer
+33 (0)4 42 905 905
finance@verimatrix.com
Verimatrix Media Contact:
Matthew Zintel
+1 281 444 1590
matthew.zintel@zintelpr.com
Artificial Solutions partners with the Conversation Design Institute.
source
https://www.artificial-solutions.com/blog/artificial-solutions-partners-with-the-conversation-design-institute
June 9, 2021
Artificial Solutions® (SSME:ASAI),
https://finance.yahoo.com/quote/ASAI.ST/
the leading specialist in Conversational AI,
https://www.artificial-solutions.com/conversational-ai
today announced a partnership agreement with the Conversation Design Institute who offers courses, certification, and consultancy around Conversational AI, used by brands like Vodafone, JP Morgan, Booking, ABN AMRO, and many others.
The Conversation Design Institute will use Teneo®, Artificial Solutions award-winning conversational AI development platform, as a key component to its clients.
Conversation Design Institute’s mission is two-fold. On one hand it seeks to create alignment in the industry around terminology and workflow. On the other hand, it seeks to train and certify non-engineers to help organizations develop proper chatbots and voice assistants as well as to advise enterprises in their CAI strategy.
“Every organization is looking to automate 85% of their interactions with conversational AI technology,” says founder Hans van Dam of the Conversation Design Institute.
Teneo delivers everything an organisation needs to quickly build advanced conversational AI applications running on any channel. A key component in digital transformation, Teneo allows end-users to interact with technology more easily by simply asking for what they want to achieve, while enabling businesses to automate resource intensive and complex tasks.
We are excited to partner with the Conversation Design Institute; their energy, and vision of the feature of Conversational AI will allow us to push the boundaries of what is currently expected from state-of-the-art chatbots and voice bots implementations even further,” said Mykola Sochynskyi, Sales Director at Artificial Solutions. “Our first joint project will take place on the 15th of June at the Conversation Design Festival, by the Conversation Design Institute Foundation. At the festival, AI Trainers, Conversation Designers, and Conversational Copywriters will share their learning journeys and enterprise experiences”.
To learn more about the Conversational Design Festival, visit:
https://www.eventbrite.nl/e/conversation-design-festival-tickets-149833759809
About Conversational Design Institute:
Conversation Design Institute is the world’s leading training and certification institute for creating human-centric AI Assistants. The Amsterdam based company was founded in 2018 and works with enterprises around the world. Its human-centric workflow helps teams create AI Assistants that deliver value for both people and the business. Whether you are starting your first chatbot project or are handling a million conversations per day, this proven workflow will help you increase cognition, completion, and satisfaction scores.
Sweepstake: Win a free ticket to the Conversational Design Festival!
source
https://www.artificial-solutions.com/blog/sweepstake-win-a-free-ticket-to-the-conversational-design-festival
June 7, 2021
Fill out the form below and you will automatically enter our sweepstake to win one of the 50 tickets we have available to give away. We will close the entries on Friday 11th of June, 2021 at 5pm CET; the winners will be picked randomly and the results will be communicated to all participants afterwards.
Artificial Solutions is a proud sponsor of the Conversational Design Festival
https://www.eventbrite.nl/e/conversation-design-festival-tickets-149833759809
that’s scheduled to take place online on June 15th, 2021. The event, organized by the Conversational Design Institute,
https://www.conversationdesigninstitute.com/blog
will bring together AI Trainers, Conversation Designers, Conversational Copywriters, and companies that have implemented Conversational AI solutions or are starting their development journey. Attendees will get practical advice on deploying, designing, and optimizing AI Assistants like chatbots and voice assistants.
If this sounds like an event that you would like to attend, we want to help you! That is why we have prepared this sweepstake.
Make sure you share this post through social media with your contacts so they can try their luck too!
If you have any questions or have any problems joining the raffle, please get in touch with us via as-marketing@artificial-solutions.com.
Westport Fuel Systems Announces Closing of Marketed Public Offering and Exercise of Over-Allotment Option.
source
https://finance.yahoo.com/news/westport-fuel-systems-announces-closing-124400973.html
Tue, June 8, 2021, 2:44 PM
Westport Fuel Systems Inc. (TSX | Nasdaq: WPRT), a global leader in alternative fuel, low-emissions transportation technologies, today announced the closing of its previously-announced underwritten marketed public offering of common shares in the United States and Canada for gross proceeds to the Company of US $115,115,000. The Company issued a total of 20,930,000 shares, including 2,730,000 shares following the exercise in full by the underwriters of their over-allotment option. The shares were issued at a price to the public of US $5.50 per share.
Westport Fuel Systems intends to use the net proceeds of the Offering primarily for capital expenditures to expand and automate production capacity of the Company’s high pressure direct injection (“HPDI”) products to meet customer demand, and to advance the research and development of the Company's HPDI technology to decarbonize transportation economically and efficiently, including using hydrogen fuel. The remainder of the funds are to be allocated for potential acquisitions of bolt-on businesses that offer complementary capabilities or technologies to existing businesses, to further strengthen the balance sheet, as well as for general corporate purposes.
The Offering was conducted through a syndicate of underwriters led by RBC Capital Markets and J.P. Morgan as joint bookrunners, and including Oppenheimer & Co. as senior co-manager and Craig-Hallum as co-manager.
About Westport Fuel Systems
Westport Fuel Systems is driving innovation to power a cleaner tomorrow. The company is a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry. Westport’s technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America and South America, the company serves customers in more than 70 countries with leading global transportation brands.
For more information, visit
https://wfsinc.com/
Investor Inquiries:
Christine Marks
Investor Relations
T: +1 604-718-2046
E: invest@wfsinc.com
Could This Household Chemical Become The Superfuel Of The Future?
source
https://finance.yahoo.com/news/could-household-chemical-become-superfuel-230000653.html
Tue, June 8, 2021, 1:00 AM
These two gases are some of the best options for zero-carbon fuel.
That could make them the hottest commodities on the planet … and the future stars of a multi-trillion-dollar energy transition.
Everyone from governments and institutions to Big Tech, energy companies, and the investing universe may get fully locked in.
The first gas is hydrogen, the simplest element on earth that makes up over 90% of all the atoms in the universe.
Investors are already taking note of this, and one report says that demand for hydrogen may rise eight-fold by 2050.
https://www.lombardodier.com/contents/corporate-news/responsible-capital/2021/may/investing-in-the-future-of-hydro.html
Governments across the world are taking action and spending trillions of dollars on clean energy infrastructure.
One report estimates the total investment
https://www.rechargenews.com/energy-transition/the-recharge-view-coming-trillion-dollar-scale-clean-energy-spend-is-a-moral-test/2-1-985442
necessary to meet the Paris Agreement targets that aim to keep global warming to below 1.5°C above pre-industrial temperatures is a staggering $131 trillion.
And now, after decades of multiple false dawns, we think the hydrogen economy
https://oilprice.com/Alternative-Energy/Fuel-Cells/Hydrogen-Fuel-Economy-Is-Finally-Going-Mainstream.html
is primed for a major takeoff.
Bank of America says hydrogen technology is at a tipping point and could be set to explode with a total market potential reaching $11 trillion by 2050.
https://www.cnbc.com/2020/09/27/hydrogen-is-at-a-tipping-point-with-11-trillion-market-set-to-explode-says-bank-of-america.html
Hydrogen has traditionally been regarded as a leading superfuel, but a hydrogen-powered economy is fraught with major challenges including high production costs and a high risk of fires due to hydrogen’s extreme flammability.
That’s where our second gas comes into play: Ammonia the answer to the hydrogen conundrum.
“Green ammonia” is now being viewed as the holy grail of these superfuels...
The ideal hydrogen carrier, ammonia may be used in the future to power everything from cars to vans, trucks, forklifts… even ships and jets.
All thanks to ammonia’s unique properties including being much safer to transport than hydrogen as well as being a much better hydrogen carrier than even liquefied hydrogen itself.
Over the past few years, visions of green ammonia's potential as an energy source and an energy carrier in a future carbon-free economy may have started to transition towards a viable reality.....
After lagging for decades, we think there’s little doubt that the hydrogen economy is finally ready to take off.
And few sectors have been hotter than hydrogen fuel cell companies lead by Plug Power, Bloom Energy Corporation (NASDAQ:BE), and Ballard Power Systems (NASDAQ:BLDP).
We think that’s because energy experts and Wall Street believe that sector is at a tipping point.
Bank of America says hydrogen technology is poised to take off as falling production costs, technological improvements, and a global push toward sustainability converge. The firm believes this will generate $2.5 trillion in direct revenue --or $4 trillion if revenue from associated products such as fuel cell vehicles is counted--with the total market potential reaching $11 trillion by 2050.
Last year, the European Union set out its new hydrogen strategy
https://ec.europa.eu/energy/sites/ener/files/hydrogen_strategy.pdf?utm_source=emailmarketing&utm_medium=email&utm_campaign=european_commission_announces_hydrogen_strategy_energy_systems_integration_strategy_and_clean_hydrogen_alliance&utm_content=2020-07-08&cid=ZhfSKdVyHkBPuOBOg9SXRatph6Ou3AfI6NtS8N7tDOIFlz5BhtM5M-xJX558ahT8lO8JS_gl6cGKs7Oq25Gj6Q..
as part of its goal to achieve carbon neutrality for all its industries by 2050 with the objective to see the regional bloc develop a minimum of 40 gigawatts of electrolyzers within its borders and a similar amount of green hydrogen capacity in neighboring countries that can export to the EU by the same date.
And now the private sector is looking to give the EU a run for its money.
Some of the world’s green hydrogen leaders have announced a coalition with an ambitious goal to drive a 50-fold scale-up in green hydrogen production over the next six years.
The Green Hydrogen Catapult Initiative
https://racetozero.unfccc.int/green-hydrogen-catapult/
is a brainchild of founding partners Saudi clean energy group ACWA Power, Australian project developer CWP Renewables, European energy giants Iberdrola and Ørsted, Chinese wind turbine manufacturer Envision, Italian gas group Snam, and Yara, a Norwegian fertilizer producer.
The companies hope to drive 25GW of green hydrogen production by 2026, a scale that could significantly drive down hydrogen costs to below $2/kg thus making the fuel source competitive with fossil fuels in power generation.
Green hydrogen is produced using renewables as an energy source in the electrolysis of water..............
Companies to watch as the hydrogen market heats up:
Westport Fuel Systems (NASDAQ:WPRT, TSX:WRPT) isn’t necessarily a resource play, but it is an important company to watch as new fuels and new forms of energy take the spotlight. Especially as the world races to leave behind traditional gasoline and diesel-powered vehicles. That’s because, while it is a manufacturing play at heart, it offers a particularly unique way to gain exposure to the alternative fuels market. As a key manufacturer of the hardware needed to build natural gas and other alternative-fueled cars, Westport is definitely a company to watch in this scene.
Westport Fuel has been making major moves in the market over the past year, and its efforts are finally coming to fruition. Since May 2020, the company has seen its stock price rise by 322%, and with more potential deals like the one it has just sealed with Amazon to provide natural gas-powered trucks to its fleet, the stock has even more room to run in the coming years.
Form 6-K Wimi Hologram Cloud Inc.
source
https://sec.report/Document/0001213900-21-029637/
Published: 2021-05-27 17:03:34
Submitted: 2021-05-27
Filing Agent: EDGAR AGENTS LLC
Period Ending In: 2021-05-27
WiMi Hologram Cloud Inc. Announces the Appointment of Teck Yong Heng as an Independent Director.
WiMi Hologram Cloud Inc. (Nasdaq: WIMI),
https://sec.report/Ticker/WIMI
a leading Hologram Augmented Reality Technology provider, today announced the resignation of Ms. Shan Cui, who was an independent director of the Board of Directors and the chairwoman of the audit committee of the Board. On May 26, 2021, Ms. Shan Cui delivered her notice to resign from her position as a member of the Board. The resignation of Ms. Shan Cui is not a result from any disagreement with the company.
On May 27, 2021, the Board accepted Ms. Shan Cui’s resignation and appointed Mr. Teck Yong Heng as an independent director of the Board and the chairman of the audit committee of the Board to fill the vacancy created by Ms. Cui Shan’s resignation.
Mr. Teck Yong Heng is the Founder and Managing Partner of C2 Partners, or C-Squared Partners, a China-based private equity investment firm focusing on consumer sector since May 2018. He also serves as an independent director of the board of directors and the chairman of the audit and the compensation committees of Lixiang Education Holding Co. Ltd., a NASDAQ-listed education company (NASDAQ: LXEH).
https://sec.report/Ticker/LXEH
https://www.lixiangeh.com/
Mr. Teck Yong Heng was the Managing Director of QianHai Fund of Funds (“Qianhai FoF”) from Aug 2016 to May 2018. Before joining Qianhai FoF, he was Senior Portfolio Manager with Pavilion Capital, Director (Investments) with Temasek Holdings, Consulting Associate with Cambridge Associates, Financial Analyst with Singapore Power and Assurance Senior with Arthur Andersen.
Mr. Teck Yong Heng received his bachelor’s degree in accountancy with honors from Nanyang Technological University in 1998, and has completed the General Management Program of Harvard Business School in 2010. He is a Chartered Financial Analyst (CFA), Chartered Accountant (CA), Financial Risk Manager (FRM), Chartered International M&A Expert (IM&A) and a member of Singapore Institute of Directors.
The Company believes that Mr. Teck Yong Heng is well-qualified to serve as a director of the Board and the chairman of the audit committee due to his extensive experience, expertise, and qualifications in accounting, finance, investment and capital markets.
About WIMI Hologram Cloud Inc.
WiMi Hologram Cloud, Inc.(NASDAQ: WIMI), whose commercial operations began in 2015, is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.
For more information, please visit
http://ir.wimiar.com/
Contacts
WIMI Hologram Cloud Inc.
Email: pr@wimiar.com
ICR, LLC
Jack Wang
Tel: +1 (646) 975-9495
Email: wimi@icrinc.com
Heavy transport must take a detour via hydrogen in a diesel engine.
source
https://www.tu.no/artikler/tungtransporten-ma-ta-omvei-via-hydrogen-i-dieselmotor/510805
Norway JUNE 6, 2021 - 05:18
FUEL CELLS FOR HEAVY TRANSPORT
Volvo and Daimler join forces to develop fuel cells for heavy transport. Scania has started work on using direct-injected hydrogen in internal combustion engines. MAN also chooses to go the way of hydrogen in rebuilt diesel engines on the road to fuel cells.
Hydrogen with combustion
In Europe, it seems that the big, heavy, European producers are coming to the hydrogen line in full.
In late January this year, Canadian Westport Fuel Systems and Scania launched an agreement with the goal of jointly further developing Scania's existing engines to use high-pressure direct-injection hydrogen, HPDI (High Pressure Direct Injection).
Scania writes in a press release that they have gathered valuable information through tests with fuel cells, but that there is a need for here-and-now solutions, in addition to R&D for future solutions. Without it being explicit, it is clear that Scania does not see fuel cells as sufficiently mature technology for it to be used in the foreseeable future.
More than 200 years old
Hydrogen in internal combustion engines is nothing new , it was patented by the French officer François Isaac de Rivaz in 1807. The hydrogen tank was then a balloon and the engine had an efficiency of three percent! Since then, there have been a number of projects and development stages, but it has never been able to compete with either petrol or diesel. They tried hydrogen as a fuel in 1996, then in city buses.
Now they are bringing the concept forward again. Hydrogen can be used in engines built according to both the Otto and Diesel principles. Hydrogen first self-ignites at 585 ° C, which means that the temperature in the combustion chamber must be well above 800 degrees. To achieve this, very high compression and preheated air are required as well. An alternative is to use an injection nozzle that sends in a jet of tiny diesel to start combustion.
Scania is rebuilding
No information is given about their hydrogen engines, but there is reason to believe that they are rebuilding existing diesel engines. Scania confirms that the company will rebuild existing diesel engines. In practice, this means that the engine block is preserved, then put on a new top, with an injection system. The turbo also needs to be changed.
During 2022 and 23, prototypes of large heavy trucks with both internal combustion engines and fuel cells will be presented. The latter should have a range of 800 km. The company is now in talks with potential customers and partners, especially forwarding and transport companies.
From cloud to cloud, Chinasoft International "stacks" to the end.
source
http://www.chinasofti.com/news/2211.htm
2021-06-07
Recently, the 2021 China International Big Data Industry Expo (referred to as the "Digital Expo") has successfully concluded. The integration and innovative development of data elements in the post-epidemic era has become the focus of discussion at this year's Digital Expo. After experiencing the test of the epidemic last year, government and enterprise users are fully aware of the value of data elements and the importance of digital intelligence capabilities.
For this reason, the digital transformation and intelligent upgrade of government and enterprise users have obviously pressed the "fast forward button." Government and enterprise users are no longer just satisfied with going to the cloud, but are more eager to make good use of the cloud, truly realize the integration of cloud data and intelligence, and give full play to the value of data elements. This puts forward higher requirements for digital transformation service providers, that is, to provide a full-stack solution covering the entire life cycle of government and enterprise users from going to the cloud to using the cloud to meet the future transformation needs of government and enterprise users.
As the industry’s leading provider of digital transformation services, ChinaSoft International Cloud Intelligent Business Group has received extensive attention at this year's Digital Expo with its excellent products, solutions, and transformation practices in multiple industries. Its rich and detailed display content is also Let the guests at the conference stop one after another, and become a beautiful landscape of this year's Digital Expo.
Digital Expo is wonderful because of it.
The reason why the ChinaSoft International Cloud Intelligent Business Group, which was established only three years ago, has received widespread attention at this year's Digital Expo because it is truly standing at the forefront of the current digital transformation of government and enterprises. Related products and solutions are related to the current digitalization of government and enterprises. The transformation is highly compatible.
At present, the rapid development of the digital economy is becoming an important starting point for the digital transformation of government and enterprises. According to the latest "White Paper on China's Digital Economy Development (2021)" issued by the China Academy of Information and Communications Technology, my country's digital economy will reach 39.2 trillion yuan in 2020, accounting for 38.6% of GDP. The digital economy is accelerating against the trend and further driving government and enterprises. Accelerate digital transformation.
More critically, the current digital transformation of government and enterprises has entered the "deep water zone." For example, governments and enterprises have not only migrated simple businesses to the cloud, but faced a multi-cloud or hybrid cloud environment. How to achieve a consistent multi-cloud experience is becoming more and more important; for another example, cloud native has begun to rise, but many government Enterprise users are still hesitant to use cloud native, but want to use it but dare not use it. There are many technical barriers and psychological barriers. Another example is how to make better use of big data and AI and other technologies to build a data-driven cloud on the cloud. Business scenarios are becoming a trend to achieve rapid business response...
All kinds of challenges make the digital transformation of government and enterprise urgently need a good helper, who can cover the whole process of government and enterprise users from going to the cloud to using the cloud with full-stack solutions and capabilities. Gartner believes that a qualified digital transformation service provider must have at least the following three basic capabilities:
- first, it has an efficient cloud management platform to facilitate user resource management;
- second, it can provide the most basic hosting services, and Corresponding operation and maintenance experts can provide comprehensive support;
- third, professional services can be provided, including consulting and implementation services to help users migrate to public clouds.
There is no doubt that the capabilities and achievements of ChinaSoft International Cloud Intelligence Business Group in recent years are a good helper who can definitely win the team to the end. Last year, under the influence of the epidemic, ChinaSoft International achieved growth in its performance against the trend, and at the same time, it ranked top 3 in the IDC China cloud management service market. It has strong technology, sufficient products, broad industry accumulation, and stable ecological construction, gradually making it a China A pivotal vanguard in the cloud management service market.
Excellent technology and complete products.
As we all know, the digital transformation of government and enterprises cannot be achieved overnight, but a long-term process of spiraling upward and repeated iterations. This determines that it is difficult for a single point product or technology to be competent; at this time, the value of the full-stack technology, product and service capabilities can be fully reflected.
A simple example,
the vast majority of government and enterprise users will face a multi-cloud environment in the next few years. According to the RightScale Cloud State Survey, 84% of enterprises have a multi-cloud strategy, with an average of 4.9 clouds per enterprise. IDC also predicts that by 2022, more than 90% of global enterprises will rely on a combination of local/dedicated private clouds, multiple public clouds and old platforms to meet their infrastructure needs.
How to make good use of multi-cloud, allowing users to stroll around in a multi-cloud environment. CloudEasy, ChinaSoft International’s one-stop multi-cloud management platform, has made great use of it. CloudEasy adopts a micro-service architecture design and naturally has cloud-native capabilities. It supports containerized deployment, The cloud-native one-stop management service also has the extensive support capabilities of the five major cloud service providers including Huawei Cloud, AWS, and Azure, which truly allows government and enterprise users to make good use of the cloud.
For another example,
companies now not only need to face the last mile of cloud migration, but also need to make good use of cloud native to make cloud native a booster for cloud use. To this end, Chinasoft International Cloud Intelligence Business Group provides full-stack cloud services including cloud migration consulting, cloud native technology consulting (microservice containerization transformation), cloud migration services, DevOps and agile consulting, disaster recovery implementation, etc., and has a wealth of Expert resources, providing cloud-native services including container cloud platform, DevOps, security, etc., with comprehensive capabilities to make traditional government and enterprise users worry-free in using the cloud.
For another example,
after a multi-cloud environment becomes the standard configuration for government and enterprise users, many government and enterprise users will face the coexistence of agile and steady-state businesses. In particular, the accelerated blowout of sensitive business applications tends to make frequent and full use of cloud native, big data, AI and other technologies. The high business responsiveness, rapid change, and high flexibility will further increase the complexity of the multi-cloud environment and bring about operations. Dimensional troubles.
To this end, the full life cycle cloud management service created by Chinasoft International Cloud Intelligence Business Group provides guarantees for customers’ cloud infrastructure, middleware, and data lake, namely security services. Through full-scenario smart operation and maintenance and full-stack dynamic monitoring, continuous Optimize the multi-cloud environment for government and enterprise users to provide adequate protection for government and enterprise users.
Nowadays, it is precisely relying on full-stack technology, products and service capabilities that Chinasoft International Cloud Intelligence Business Group is able to do a good job in helping the digital transformation of government and enterprises.
Industry accumulation is broad enough and ecological construction is stable enough.
ChinaSoft International has been accumulating cross-industry practices in government, education, telecommunications, transportation, and finance for a long time, giving it a deep understanding and rich practice in the digital transformation of the industry. This ability is especially valuable in the era of digital intelligence.
As we all know, new scenarios and new applications are the key to the transformation of government and enterprises from cloud to cloud use. How to integrate cloud computing, big data, AI and other technologies with business scenarios to truly enable new businesses and new applications to land will be a digital transformation The core competitiveness of service providers in the future market requires digital transformation service providers to have deep industry accumulation and rich practical capabilities.
ChinaSoft International has more than 20 years of experience in cross-industry solutions and is a true knowledgeable expert. Not only has it launched a series of cloud solutions for multiple industries and all scenarios, but it has also created a team of experts who understand the needs of the industry and have excellent business quality. Team. For example, in the financial field, Chinasoft International Cloud Intelligence Business Group provides services such as industry cloud research and development and cloud reconstruction for many financial institutions; another example is the “Scenario Application + Data Storage” solution of Chinasoft International Cloud Intelligence Business Group, which is effective Help users in multiple industries to solve the multi-scenario management problems of "collecting, managing, using, and storing" unstructured data.
In addition, Chinasoft International Cloud Intelligence Business Group has also built a strong ecosystem. In addition to heavyweight cloud service providers such as Huawei Cloud and AWS, it also has thousands of partners and has established partner competence centers in many cities across the country. Products and services cover many countries and regions.
In general, 2021 will be a watershed in the digital transformation of government and enterprises. Government and enterprise users who have experienced the test of the epidemic will inevitably accelerate their own pace of transformation. In this process, the comprehensive capabilities demonstrated by ChinaSoft International Cloud Intelligence Business Group And commendable rich experience, let it stand out in the future market competition. Become a good helper for government and enterprise users from going to the cloud to using the cloud.
Facing the future, Chinasoft International Cloud Intelligence Business Group will inevitably usher in a bigger stage!
@Uranium, thanks for the simple Chart. I put your simple Chart to the End of the IntroBox.
@Uranium, thanks for the Chart. I put your Chart to the End of the IntroBox.
Zhuyou Intelligent Manufacturing Technology (0726.HK) rose more than 6%, the chairman of the board of directors increased his holdings for two consecutive days,
source
https://cj.sina.com.cn/articles/view/5115326071/130e5ae7702001d9pe
June 03, 2021 11:02 Gelonghui APP
Zhuyou Zhizao Technology (0726.HK) rose 6.59% to 0.97 Hong Kong dollars in intraday trading. This is the third consecutive day of gains. The stock price hit a new high since the end of April, and its latest market value was 2.7 billion Hong Kong dollars. The company announced last night that Liu Weixing, chairman of the board of directors and executive director, purchased the company’s shares on June 1 and June 2, for a total of 1.55 million shares at a cost of nearly 1.4 million Hong Kong dollars. Immediately after the acquisition, Liu Weixing was interested in 32.84 million shares (including 28 million shares granted under the company’s share option plan but not yet exercised), accounting for approximately 1.17% of the company’s total issued share capital.
Guotai Junan Securities: Chinasoft International maintains an overweight rating and a target price of HK$ 19.7
source
https://finance.sina.com.cn/stock/hkstock/hkgg/2021-06-04/doc-ikqciyzi7643370.shtml
June 04, 2021 10:01 Sina Hong Kong Stocks
Guotai Junan Securities released an updated research report, believing that Chinasoft International (00354) has formulated the SP301 plan and will grow rapidly in the next three years. With the release of Huawei Hongmeng 2.0, the company as a core participant is expected to fully benefit.
Guotai Junan Securities raised the target price of Chinasoft International to HK$19.7 and maintained the “overweight” rating.
According to the company's SP301 plan for each business line planning, combined with the 2020 annual report data. We raised our profit forecasts for 2021 and 2022, and added new profit forecasts for 2023. It is estimated that the company's net profit for 2021-2023 will be 12.37 (+1.21), 16.92 (+3.53), and 2.444 billion yuan, and EPS will be 0.43, 0.58, and 0.84 yuan respectively. Under the PE valuation method, the target price is raised to HK$19.70, corresponding to 28 times PE in 2022, and the “overweight” rating is maintained.
Two-wheel drive, double revenue by 2023. According to ChinaSoft International's SP301 plan, the company's total revenue will double in 2023, from 14.1 billion yuan in 2020 to 30 billion yuan, and net profit will exceed 2 billion yuan. Cornerstone business provides customers with technical services and solutions, which is the company's traditional business. In the process of in-depth cooperation with major customers, the company grows together with customers on the one hand and maintains the original proportion in the growing outsourcing market of customers. On the other hand, it seizes the new growth point of customers' demand to occupy more outsourcing shares. Cloud intelligent business is a full-stack cloud business composed of cloud products and cloud services, and the Jiefang number of the software industry ecological platform. The new business line has high gross profit margin and rapid growth. As the proportion of high-margin business continues to increase in the future, the company's profitability may improve.
The company's core competitiveness is the spillover of Huawei's competitiveness. Huawei is currently one of the best managed companies in China. The superiority of Huawei's management is reflected in its "lifeless" management system, which uses the system to manage the enterprise instead of relying on the "rule by man."
Overseas IT service vendors often rise with the best customers . Domestic IT service vendors will also rise with the rise of the best domestic customers.
Huawei's hard to soft, Hongmeng's future development has become an important catalyst. Huawei released version 2.0 of the Hongmeng operating system on the evening of June 2, 2021, marking the acceleration of Huawei's transformation from a "hardware advanced company" to a "software advanced company." The company is a “veteran-level” participant of Huawei Hongmeng, participating in the construction of Hongmeng OS from 0 to 1. We believe that both the company's cornerstone business and cloud intelligence business will benefit from Hongmeng's promotion, and there is huge room for future development.
Global Focus on Passenger Vehicles, Light-duty & Heavy-duty Buses and Trucks, and Three-wheelers.
DUBLIN, June 3, 2021
The growing adoption of natural gas as an alternative fuel in vehicles, especially in the transportation sector worldwide, is creating the demand for automotive natural gas vehicles (NGVs). The low emission properties of NGVs facilitated by clean fuel characteristics are expected to drive their demand in public transportation, therefore boosting the market growth. The need for cleaner fuels at lower costs is also expected to drive market growth.
Moreover, government support for the adoption of these vehicles will augment the demand. The government authorities in various countries are implementing stringent regulations to curb environmental damages arising from the emission of Particulate Matter (PM) and Greenhouse Gases (GHG) from vehicles. Simultaneously, with these regulations, authorities have also been continuously revising the emission standard policies to help protect the environment.
Government agencies across the globe are rolling out incentive programs to promote the adoption of NGVs owing to the high initial cost associated with the procurement of CNG and LNG vehicles. Some of the incentive programs to promote the adoption of these vehicles include the U.S. Congestion Mitigation and Air Quality Improvement Program (CMAQ), U.S. Environmental Protection Agency's (EPA) Diesel Emissions Reduction Act Program (DERA), and California Energy Commission's Clean Transportation Program.
The governments in various countries are undertaking initiatives to develop and expand the natural gas distribution infrastructure and invest significantly in improving natural gas technology. The network of CNG and LNG refueling stations is expanding in various countries, boosting the adoption of NGVs.
Asia Pacific held the largest share of the overall market in 2020 owing to the increased adoption of natural gas, such as CNG and LNG, in passenger cars, trucks, buses, and three-wheelers in countries, such as India, China, Thailand, Pakistan, and Bangladesh. The region has also emerged as a hub for automotive production in recent years.
- Stringent regulations laid down by governments of various nations to reduce the emissions of GHG and PM are expected to positively influence the market growth over the forecast period.
- Refueling solutions, such as home refueling and time-fill refueling, prove to be economical, along with providing convenience to customers.
- The CNG segment dominated the market in 2020 and is anticipated to reach a demand of 36,758.09 thousand units by 2028, owing to less noise produced from a CNG engine due to the lower level of the sound pressure.
- Asia Pacific held the largest market share in 2020. This growth is attributed to the increased production and sales of passenger cars in the region.
Form DEF 14C Capstone Companies, Inc. - Other definitive information statements,
sources
- HTML
https://sec.report/Document/0001575705-21-000341/
- PDF
http://filings.irdirect.net/data/814926/000157570521000341/def14c.pdf
Published: 2021-06-04 15:55:31
Submitted: 2021-06-04
Filing Agent: Premier Financial Filings LLC
Period Ending In: 2021-06-04
Renren's 2020 Annual Report: Revenue increased by 20% year-on-year, and CEO voting rights reached 48.9%.
source
https://finance.sina.com.cn/stock/hkstock/ggscyd/2021-06-02/doc-ikqcfnaz8754734.shtml
June 02, 2021 20:18 Zhitong Finance APP
Renren.com (RENN.US) submitted a 20F report to the US SEC, disclosing the company's 2020 annual report and the latest shareholding structure as of December 31, 2020. The financial report shows that the company's 2020 revenue was 18.106 million U.S. dollars, compared with 15.085 million U.S. dollars in the same period last year, an increase of 20% year-on-year.
Financial summary
According to the financial report, 2020 revenue was 18.106 million US dollars, compared with 15.085 million US dollars in the same period last year; It recorded a loss of US$0.05 per share during the same period of the year.
Ownership structure
As of March 31, 2021, Joseph Chen, chairman, chief executive officer and director of Renren, holds 33% of the company's shares and 48.9% of the voting rights;
The company's chief operating officer and director James Jian Liu holds 5.4% of the company's shares and 1.5% of the voting rights.
Verimatrix Integrates NexPlayer into Multi-DRM, VCAS and Watermarking Solutions.
Technology Partnership with OTT Media Player Innovator NexPlayer Brings Verimatrix Customers High-Quality Video Services on Any Device, Including Game Consoles, Smart TVs and HTML5 Browsers.
source
https://www.businesswire.com/news/home/20210602005494/en/Verimatrix-Integrates-NexPlayer-into-Multi-DRM-VCAS-and-Watermarking-Solutions
June 02, 2021 11:45 AM
“Since the beginning, NexPlayer has been focused on the development of high-quality software while partnering with proven complementing technologies”.
Verimatrix, (Euronext Paris: VMX),
https://www.verimatrix.com/
the leader in powering the modern connected world with people-centered security, today announced a technology partnership with Madrid-based NexStreaming.
https://nexplayersdk.com/
Verimatrix integrated the company’s NexPlayer multi-screen player SDK into the recently launched Verimatrix Multi-DRM Core solution
https://www.verimatrix.com/products/multi-drm/
aimed at video streaming service providers, content owners and operators looking to quickly set up a customizable, powerfully secured cloud-based DRM system while only paying for the capabilities and scalability they need at the time. Additionally, Verimatrix's client-side Watermarking technology
https://www.verimatrix.com/products/watermarking/
has been integrated with the NexPlayer SDK.
The NexPlayer integration is also available to Verimatrix Video Content Authority System (VCAS) customers, for both on-premise and cloud deployments. The result of more than 15 years of code development and improvement by highly skilled engineers, the integrated NexPlayer SDK addresses issues of complexity, security and video quality for any device, including Android, iOS, Smart TVs such as Samsung and LG, game consoles such as Xbox and PlayStation, and HTLM5 browsers. It offers unique code control that ensures viewers enjoy the highest quality, most secure and reliable playback experience across all devices.
“Working alongside innovators such as NexStreaming is a welcomed opportunity to add notable value to our customers that expect the best possible experience for themselves and their viewers,” said Asaf Ashkenazi, Chief Operating Officer at Verimatrix. “We’re pleased to integrate NexPlayer’s technologies in order to fully harness the reliability, speed and robustness of its media player offerings. The same user experience and controlled video playback features provided for set-top boxes and mobile devices can now be offered on most OTT devices for our customers – offering a powerful solution for device fragmentation.”
“Since the beginning, NexPlayer has been focused on the development of high-quality software while partnering with proven complementing technologies,” said Carlos Lucas, CEO at NexStreaming. “Verimatrix is a clear example of a partner providing technology with the highest levels of quality and support – which is what makes the company a perfect match for us. We look forward to continually optimizing our integrations with Verimatrix solutions to power some of the most advanced video services available.”
About NexStreaming
NexStreaming is the provider of NexPlayer, the leading Player SDK for premium OTT video apps, offering the best streaming video quality across all devices. For almost two decades NexPlayer has worked with the biggest names in entertainment to help them solve the problem of device fragmentation and the customization of the player to provide the most advanced video services ahead of the competition. NexPlayer is available for Android, iOS, Xbox, PlayStation, HTML5, WebOS and Tizen. NexPlayer develops unique features such as MultiView, that provides the industry’s only solution to enjoy multiple live streams synchronized across all devices.
Visit
https://nexplayersdk.com/
About Verimatrix
Verimatrix (Euronext Paris: VMX) helps power the modern connected world with security made for people. We protect digital content, applications, and devices with intuitive, people-centered and frictionless security. Leading brands turn to Verimatrix to secure everything from premium movies and live streaming sports, to sensitive financial and healthcare data, to mission-critical mobile applications. We enable the trusted connections our customers depend on to deliver compelling content and experiences to millions of consumers around the world. Verimatrix helps partners get to market faster, scale easily, protect valuable revenue streams, and win new business.
To learn more, visit
https://www.verimatrix.com/
Contacts
Verimatrix Investor Contact:
Richard Vacher Detournière
General Manager & Chief Financial Officer
+33 (0)4 42 905 905
finance@verimatrix.com
Verimatrix Media Contact:
Matthew Zintel
+1 281 444 1590
matthew.zintel@zintelpr.com
NexStreaming Contact:
Warda Allalou
+ 34 914 184 356
info@nexplayer.com
Westport Fuel Systems Announces Pricing of Marketed Public Offering.
source
https://finance.yahoo.com/news/westport-fuel-systems-announces-pricing-043200308.html
Thu, June 3, 2021, 6:32 AM
- Price to the public of US $5.50 per share for gross proceeds of approximately US $100 million excluding the 15% over-allotment option.
- Use of proceeds primarily to fund the growth of HPDI 2.0TM sales by expanding production capacity and investing in research and development of HPDI with hydrogen.
Westport Fuel Systems Inc. (TSX | Nasdaq: WPRT) today announced the pricing of its previously proposed underwritten marketed public offering of common shares in the United States and Canada. The offering is comprised of 18,200,000 common shares at a price to the public of US $5.50 per share.
The Offering will be conducted through a syndicate of underwriters led by RBC Capital Markets and J.P. Morgan as joint bookrunners, and including Oppenheimer & Co. as senior co-manager and Craig-Hallum as co-manager .
Westport Fuel Systems will also grant the Underwriters an option to purchase additional Common Shares representing up to 15% of the number of Common Shares to be sold pursuant to the Offering, to cover the Underwriters' over-allocation position, if any, and for market stabilization purposes. The option will be exercisable by the Underwriters for a period of 30 days following the closing of the Offering.
Westport Fuel Systems intends to use the net proceeds of the Offering primarily for capital expenditures to expand and automate the production capacity of the Company’s high-pressure direct injection (“HPDI”) products to meet customer demand, and to advance the research and development of the Company's HPDI technology to decarbonize transportation economically and efficiently, including using hydrogen fuel. The remainder of the funds is to be allocated for potential acquisitions of bolt-on businesses that offer complementary capabilities or technologies to existing businesses, to further strengthen the balance sheet, as well as for general corporate purposes.
In connection with the Offering, the Company filed the preliminary prospectus supplement dated June 1, 2021 and will file a final prospectus supplement, to its final short form base shelf prospectus dated March 16, 2021 with the securities commissions or similar regulatory authorities in each of the provinces of Canada, except Québec. The Preliminary Supplement has also been filed and the final prospectus supplement will be filed, with the U.S. Securities and Exchange Commission as part of the Company’s registration statement on Form F-10 in accordance with the multi-jurisdictional disclosure system established between Canada and the United States.
Closing of the Offering is subject to customary closing conditions, including the approvals of applicable securities regulatory authorities, including the Toronto Stock Exchange and the Nasdaq Exchange and is expected to occur on or about June 8, 2021. For the purposes of Toronto Stock Exchange approval the Company intends to rely on the exemption set forth in Section 602.1 of the Toronto Stock Exchange's Company Manual relating to certain transactions involving eligible interlisted issuers on a recognized exchange, such as the Nasdaq Exchange.
The Offering is being made in Canada only by means of the Shelf Prospectus and the Prospectus Supplement and in the United States only by means of the Registration Statement. Such documents contain important information about the Offering. A copy of the Preliminary Supplement, the Prospectus Supplement and the Shelf Prospectus will be available on SEDAR at www.sedar.com and a copy of the Preliminary Supplement, the Prospectus Supplement and the Registration Statement will be available on EDGAR at www.sec.gov. Copies of the Preliminary Supplement, Prospectus Supplement, the Shelf Prospectus and the Registration Statement, when available, may also be obtained from the Company, by contacting Manager, Investor Relations of Westport Fuel Systems Inc. at 101 – 1750 West 75th Avenue, Vancouver, British Columbia V6P 6G2, telephone: (604) 718-2046 or by contacting RBC Dominion Securities Inc., 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2, Attn: Distribution Centre, or via telephone: 1-416-842-5349, or via email at Distribution.RBCDS@rbccm.com.
Prospective investors should read the Shelf Prospectus, Preliminary Supplement, Prospectus Supplement, the Registration Statement and the documents incorporated by reference therein for more complete information about the Company and this Offering before making an investment decision.
No securities regulatory authority has either approved or disapproved the contents of this news release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
About Westport Fuel Systems
Westport Fuel Systems is driving innovation to power a cleaner tomorrow. The company is a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry. Westport’s technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America and South America, the company serves customers in more than 70 countries with leading global transportation brands.
For more information, visit
https://wfsinc.com/
Investor Inquiries:
Christine Marks
Investor Relations
T: +1 604-718-2046
E: invest@wfsinc.com
In Pictures - Westport Fuel System (WPRT)
source
https://sec.report/Document/0001171843-21-003936/
Form SUPPL Westport Fuel Systems Inc.
Voluntary Supplemental Material by Foreign Issuers [Section 11(a)]
source
https://sec.report/Document/0001171843-21-003936/
Published: 2021-06-01 16:31:33
Submitted: 2021-06-01
Filing Agent: GLOBENEWSWIRE INC.
Period Ending In: 2021-06-01
Please read the full report (more than 60 pages) at:
https://sec.report/Document/0001171843-21-003936/
Westport Fuel Systems Announces Launch of Underwritten Marketed Public Offering of Common Shares in the United States and Canada.
source
https://investors.wfsinc.com/news/news-details/2021/Westport-Fuel-Systems-Announces-Launch-of-Underwritten-Marketed-Public-Offering-of-Common-Shares-in-the-United-States-and-Canada-/default.aspx
June, 01, 2021
- Marketed deal of common shares for gross proceeds of approximately US$100 million, with 15% over allotment option.
- Use of proceeds primarily to fund growth of HPDI 2.0TM sales by expanding production capacity and investing in research and development of HPDI with hydrogen.
Westport Fuel Systems Inc. (TSX | Nasdaq: WPRT) today announced the launch of a proposed underwritten marketed public offering of common shares in the United States and Canada for gross proceeds to the Company of approximately US $100 million.
Westport Fuel Systems intends to use the net proceeds of the Offering primarily for capital expenditures to expand and automate production capacity of the Company’s high pressure direct injection (“HPDI”) products to meet customer demand, and to advance the research and development of the Company's HPDI technology to decarbonize transportation economically and efficiently, including using hydrogen fuel. The remainder of the funds are to be allocated for potential acquisitions of bolt-on businesses that offer complementary capabilities or technologies to existing businesses, to further strengthen the balance sheet, as well as for general corporate purposes.
As part of the Offering, Westport’s Directors, Officers, and the Company’s largest shareholder, Kevin Douglas (and his affiliates), will enter into 90 day lock-up agreements.
The Offering will be conducted through a syndicate of underwriters led by RBC Capital Markets and J.P. Morgan as joint bookrunners), and including Oppenheimer & Co. as senior co-manager and Craig-Hallum as co-manager. The Offering will be priced in the context of the market. The issue price per share and size of the Offering will be confirmed at a later date commensurate with the Company entering into an underwriting agreement in respect of the Offering and reflected in a final prospectus supplement which will be filed with the securities regulatory authorities in each of the provinces of Canada, except Québec.
Westport Fuel Systems will also grant the Underwriters an option to purchase additional Common Shares representing up to 15% of the number of Common Shares to be sold pursuant to the Offering, to cover the Underwriters' over-allocation position, if any, and for market stabilization purposes. The option will be exercisable by the Underwriters for a period of 30 days following the closing of the Offering.
In connection with the Offering, the Company has filed a preliminary prospectus supplement dated June 1, 2021 to its final short form base shelf prospectus dated March 16, 2021 with the securities commissions or similar regulatory authorities in each of the Canadian Jurisdictions. The Preliminary Supplement has also been filed with the U.S. Securities and Exchange Commission as part of the Company’s registration statement on Form F-10 in accordance with the multi-jurisdictional disclosure system established between Canada and the United States.
The issuance of the Common Shares pursuant to the Offering is subject to market and other conditions, and to customary approvals of applicable securities regulatory authorities, including the Toronto Stock Exchange and the Nasdaq Exchange. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. For the purposes of Toronto Stock Exchange approval the Company intends to rely on the exemption set forth in Section 602.1 of the Toronto Stock Exchange's Company Manual relating to certain transactions involving eligible interlisted issuers on a recognized exchange, such as the Nasdaq Exchange.
The Offering will be made in Canada only by means of the Shelf Prospectus and the Prospectus Supplement and in the United States only by means of the Prospectus Supplement and the Registration Statement. Such documents contain important information about the Offering. A copy of the Preliminary Supplement, the Prospectus Supplement and the Shelf Prospectus will be available on SEDAR at
https://www.sedar.com/
and a copy of the Preliminary Supplement, the Prospectus Supplement and the Registration Statement will be available at:
https://sec.report/Ticker/wprt
Copies of the Preliminary Supplement, Prospectus Supplement, the Shelf Prospectus and the Registration Statement, when available, may also be obtained from the Company, by contacting Manager, Investor Relations of Westport Fuel Systems Inc. at 101 – 1750 West 75th Avenue, Vancouver, British Columbia V6P 6G2, telephone: (604) 718-2046 or by contacting RBC Dominion Securities Inc., 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2, Attn: Distribution Centre, or via telephone: 1-416-842-5349, or via email at Distribution.RBCDS@rbccm.com.
Prospective investors should read the Shelf Prospectus, Preliminary Supplement, Prospectus Supplement, the Registration Statement and the documents incorporated by reference therein for more complete information about the Company and this Offering before making an investment decision.
No securities regulatory authority has either approved or disapproved the contents of this news release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
A Preliminary Supplement containing important information relating to these securities has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The Preliminary Supplement is still subject to completion or amendment. Copies of the Preliminary Supplement may be obtained from the sources indicated above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
Investor Inquiries:
Christine Marks
Investor Relations
T: +1 604-718-2046
E: invest@wfsinc.com
3 ‘Strong Buy’ Stocks with 100% Upside Potential.
source
https://finance.yahoo.com/news/3-strong-buy-stocks-100-141738180.html
Mon, May 31, 2021, 4:17 PM
Every stock investor wants a strong return; that’s axiomatic, it’s why people get into the stock market to begin with. But the markets are inherently risky, and finding the sweet spot – the right combination of risk and reward – seems as much an art as a science. You can use science, however, to minimize the risk.
We’re talking about statistical science, the study of numbers, their patterns, and the relationships between them. This can give investors an objective view of the broader market or specific stocks, and can even be used to measure the success of those artists of the stock market, the professional traders and analysts.
We’ve used the tools on the TipRanks platform to sort through the publicly traded stocks and find three that are showing a solid combination of risk and reward. Specifically, we’ve looked for Strong Buy stocks that have recently received a thumbs up from an analyst – along with a price target suggesting 100% or better upside potential. Doubling your money sounds like a good return, so let’s find out what else these stocks have going for them.
Westport Fuel Systems, Inc. (WPRT)
Next up we have Westport Fuel Systems, a company which operates in the green sector of the energy and transportation industry, producing natural gas engines and associated fuel system components, for both personal and commercial vehicles. Westport is a leader in high-pressure direct-injection technology, and also produces engines designed for propane or hydrogen fuels.
[b[color=green]]Westport holds 1,400 patents or patent applications related to alternative fuel systems.[/color] Last year, the company made sales in 70 countries, for total revenue of $252 million.
In the first quarter report for the current year, Westport posted revenues of $76.4 million, beating the estimates by $3.81 million and up 14% from 1Q20, putting the company on track to beat last year’s total. The company ran a net loss in Q1; however, despite missing the Street’s forecast by $0.01, the loss of 2 cents per share was far lower than the 12-cent loss posted in the year-ago quarter. Westport has a stated goal of reaching $1 billion in annual business by the middle part of this decade.
Amit Dayal, 5-star analyst with H.C. Wainwright, covers this stock, and he was impressed by the Q1 results. Dayal wrote, “The YoY strength in revenues is attributed to 25.0% increase in OEM sales supported by demand for light-duty vehicles. Gross margins for the quarter improved to 17.0% compared to 15.5% in 4Q20 supported by product mix.”
Turning to the company's outlook, the analyst added, “An important takeaway from the call was management's increasing focus on driving growth in North America. We believe regulatory drivers in this geography are now pressuring fleet owners to seek out cleaner emission trucks. This, in our opinion, plays into the company's available solutions that are already addressing this need.”
In-line with those comments, Dayal rated WPRT shares as a Buy. His price target, at $16, indicates confidence in a 155% upside for the nest 12 months.
Westport has received 3 positive stock reviews for a unanimous Strong Buy consensus rating. WPRT shares have an average price target of $13.33, implying a one-year upside of 112% from the current trading price of $6.26.
https://www.tipranks.com/stocks/wprt/forecast
1 TSX Stock Could Rise 1,000% in 10 Years!
source
https://www.fool.ca/2021/05/30/1-tsx-stock-could-rise-1000-in-10-years/
May 30, 2021
If you’re looking for a TSX stock that’s set to explode, you need to first take a broader approach and look at industries. While one stock is great, what’s really going to practically guarantee growth is an entire industry that’s set to soar. So, I’m going to dig into one of those industries (not e-commerce, electric vehicles, or even cryptocurrency). Then I’ll discuss a stock I would buy today for at chance at 1,000% growth in the next decade.
Back from the brink
Canadians and, indeed, the entire world are finally starting to see signs of a recovery from the pandemic. With vaccinations well underway, many wonder what a post-pandemic world will be like. There are a lot of new industries that have been introduced during the pandemic. Some investors worry that those industries will be all but abandoned in the coming years.
But, at least in one case, that’s simply not true. The healthcare industry received a lot of investment during this time. That’s quite likely to be the case moving forward. It’s very clear now that the world was unprepared for this catastrophe, and that cannot happen again. Investment into healthcare is all but guaranteed.
Beyond this broader theme, I would then zoom in on one aspect of healthcare that saw immense growth, and that’s virtual healthcare. With everyone at home, there needed to be a safe way to see a doctor. Virtual healthcare offered that and more. Patients were seen faster, more often, and were provided a cheaper solution to in-office visits. It is highly unlikely that most places across Canada will simply revert to in-office visits when a doctor shortage has been hurting Canadians for years.
It’s likely that virtual healthcare will start to receive major investment, especially as the industries consolidates. When that happens, a TSX stock you’ll want in your portfolio is CloudMD Software & Services (TSXV:DOC).
The future of healthcare
CloudMD stock may be young, but it’s achieved a lot in a short time. Let’s start with growth. The company came onto the scene back in 2018 with a market capitalization of just $33.2 million. Fast forward just three years, and today the company has increased that market capitalization to a whopping $374.1 million!
A lot of this comes from growth through acquisition. Sure, the company has also taken on debt during that time, but the revenue is already paying off. And it really isn’t all that much. To date, the company has just $7 million in debt, with revenue increasing by a whopping 187% year over year during the latest earnings report.
The company closed five acquisitions during the first quarter, adding $13 million in annual revenue. And between the first quarter and the report, it closed two more and said a further two will close in June. This would bring in an additional $79 million in annual revenue.
Yet the company’s current revenue of $120 million doesn’t even take into consideration expected organic growth or synergies. Plus, it has a strong cash position of $95 million on hand and $35 million remaining after the latest two acquisitions. It therefore is able to receive new debt-financing options, make further acquisitions, and be profitable by the second half of 2021.
What’s the catch?
Part of the reason I believe CloudMD stock will continue to climb by 1,000% in the next decade is simple: it’s cheap. Shares of the TSX stock trade at a measly $1.85 as of writing. So, you could have a small stake in this TSX stock, and a 1,000% growth would increase that to $18.50 per share. That could turn a $5,000 investment into $50,000!
But because the TSX stock is so cheap, even if that share price growth happens — and I believe it will — there is likely to be volatility along the way. Just look at the last year. Shares exploded by 1,180% from its initial public offering in 2018 to October of 2020. Since then, shares have come down with the tech pullback by 42%.
But I believe that leaves a strong opportunity for investors to jump in at a discount. With CloudMD stock trading at 2.9 times book value, this is simply just a TSX stock that will not stay down for long.
SoFi, A Leading Next-Generation Financial Services Platform, to Become Publicly Traded following Business Combination with Social Capital Hedosophia V.
source
https://finance.yahoo.com/news/sofi-leading-next-generation-financial-162000293.html
Fri, May 28, 2021, 6:20 PM
Social Finance, Inc., a leading next-generation financial services platform, and Social Capital Hedosophia Holdings Corp. V (NYSE: IPOE) ("SCH"), a publicly traded special purpose acquisition company, today completed their previously announced transaction to take SoFi public. The transaction forms a leading, publicly traded consumer-focused financial technology platform named SoFi Technologies, Inc. The combined company is expected to start trading on The Nasdaq Global Select Market on June 1, 2021 under the new ticker symbol "SOFI" for SoFi common stock and "SOFIW" for SoFi warrants.
SoFi raised approximately $2.4 billion in cash proceeds from the transaction to fuel growth, market expansion and development of new product offerings, as well as accelerate the Company's plans to expand geographically and build the first digital one-stop-shop for members to borrow, save, spend, invest and protect their money. SCH shareholders approved the transaction at a general meeting on May 27, 2021. CEO Anthony Noto and SoFi’s management team will continue to lead the combined company.
Anthony Noto, CEO of SoFi, said, "Today marks an important step on our path toward providing an ecosystem of products, rewards and membership benefits all working together to help our members get their money right. All of us at SoFi are humbled to reach this significant milestone in our journey of building a generational company, and we are grateful for the countless individuals who have contributed to advancing our mission of empowering everyone to achieve financial independence to realize their ambitions."
Chamath Palihapitiya, Founder and CEO of SCH, said, "As a leader and innovator in the financial technology space, SoFi has the opportunity to completely transform the consumer financial services industry with its digital-first ecosystem of offerings. We are excited to work with Anthony and his talented team as SoFi begins its next chapter as a public company."
As part of the business combination, two new directors, Harvey Schwartz, former President and co-Chief Operating Officer of Goldman Sachs, and Dick Costolo, former Chief Executive Officer of Twitter, join the Board of Directors.
Noto said, "We are pleased to welcome Harvey and Dick to the SoFi Board of Directors, seasoned business leaders who each bring immense collective experience and highly relevant insights about finance, technology and operating a public company that will be beneficial to SoFi and its members."
Connaught acted as financial advisor, Credit Suisse acted as financial advisor, capital markets advisor and placement agent and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to SCH. Citi and Goldman Sachs & Co. LLC acted as financial advisors to SoFi and placement agents to the SPAC. Allen & Company LLC acted as a financial advisor to SoFi. Wachtell, Lipton, Rosen & Katz and Goodwin Procter LLP acted as legal advisors to SoFi.
About Social Capital Hedosophia Holdings Corp. V
Social Capital Hedosophia Holdings is a partnership between the investment firms of Social Capital and Hedosophia. Social Capital Hedosophia Holdings unites technologists, entrepreneurs and technology-oriented investors around a shared vision of identifying and investing in innovative and agile technology companies. To learn more about Social Capital Hedosophia Holdings, visit
https://www.socialcapitalhedosophiaholdings.com/
About SoFi
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our over two million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams.
For more information, visit
https://www.sofi.com/home-2/
or download our iOS and Android apps.
Contacts
SoFi
Investors:
Andrea Prochniak
SoFi
ir@sofi.com
Media:
Rachel Rosenzweig
SoFi
pr@sofi.com
Social Capital Hedosophia Holdings Corp. V
Media:
Sara Evans / Kerry Golds
Finsbury Glover Hering
sara.evans@fgh.com / kerry.golds@fgh.com
+1.917.344.9279 / +1.646.957.2279
Jonathan Gasthalter / Carissa Felger
Gasthalter & Co.
SCH@gasthalter.com
+1.212.257.4170
New Subsidiary Stako sp. z o.o. Profile
sources
https://stako.pl/
https://stako.pl/en/
Address: Stako Sp. z o.o. / 76-200 Slupsk / ul. Poznanska 54
Contact: +48 59 842 48 95 / +48 59 840 51 11
Sales: sales-pl@worthingtonindustries.com
STAKO Sp. z o.o., Poznanska 54, 76-200 Slupsk, Poland
NIP 8392766131 | Regon 771488409
KRS 0000078261 | BDO 000101362
IATF 16949 Certificate 44111070292
District Court of Gdansk-Pólnoc in Gdansk, 8th Comm. Div.
Share capital: 56.649.000,00 PLN
- Creating A BETTER WORLD through innovative, eco-friendly and technologically advanced solutions.
- Proud to be the first choice of AUTOMOTIVE industry.
- Based on a broad experience im automotive industry, our focus is INNOVATION.
Product offering
Our offering includes over 1000 different models of tanks for automotive LPG systems,
which have been used for years by leading car manufacturers, such as VW, Renault, Fiat, Hyundai, Opel, Ford, Maruti and many others. A wide product range, the traditional reliability of STAKO products and an innovative approach distinguish our offering from other manufacturers in the LPG industry.
We invite all companies interested in both the highest quality products and high standards of business relations to partner with us.
GO! TO THE FUTURE
Toroidal tanks
https://stako.pl/en/products/toroidal2
Cylindrical tanks
https://stako.pl/en/products/cylindrical2
About us
The history of STAKO brand dates back to the 1960s when the company started producing boilers, tanks and vessels. Over the decades, the company has developed, evolved and established cooperation with, among others, German IFA and Polish Fiat.
Today STAKO is part of the Worthington Industries’ cylinder business, the world leader in the production of pressure vessels, and our technology is used by such companies as Renault, Fiat, Hyundai Opel and Ford.
Our goal is to develop and build the future of the STAKO brand based on innovative and environmentally friendly technological solutions. Proud of our achievements and the trust that our customers and partners place in us, we want to continue to offer reliable and increasingly modern products, remaining the first choice in the automotive industry.
History
“Metal Plant” founded by Michal Staniuk in 1967, initially manufactured boilers, tanks and vessels for industrial applications. In the 1980’s, in cooperation with a German concern IFA, the company focused on manufacturing containers and tanks for the chemical industry. The year 1989 brought further changes. The company, then named "Metal Plant STAKO", started to make spare parts for mass-produced Fiat cars. Three years later, looking for new development directions, the company focused on pressure tanks, which turned out to be a good decision and soon STAKO became one of the European leaders in the autogas industry.
Another important moment in the development of the STAKO brand was in 2011 when the company was incorporated into the Worthington Cylinders group. Today, we are regarded as one of the world's leading pressure vessel manufacturers and the first choice for the automotive industry.
Trusted Partners
Project "Hydrogen Storage" of the National Centre for Research and Development
https://stako.pl/en/r-d
STAKO Sp. z o.o. as a participant in the "Hydrogen Storage" project of the National Centre for Research and Development, pursuant to article 28 §1 of the contract, invites you to submit bids on granting by STAKO, non-exclusive and paid license to use the results of R&D works, concerning a compressed hydrogen storage tank with the service pressure of 700 bar for application in motor vehicles.
The design of the hydrogen storage system is based on the Type IV composite tank for the storage of hydrogen in the compressed state at a service pressure of 700 bar. The composite tank as the main component of the storage system, placed on a lightweight aluminum bracket, an element that allows easy installation of the tank in the vehicle, as well as forming the basis for the installation of devices providing filling the tank with hydrogen and a device to prepare compressed hydrogen as a usable gas for fuel cells to produce electricity, the source of energy for the propulsion of the vehicle. The storage tank is designed as a module, a package of devices forming one element.
Westport Fuel Systems to Acquire Stako sp. z o.o., a World Leader in the Manufacturing of Liquified Petroleum Gas Fuel Storage.
source
https://finance.yahoo.com/news/westport-fuel-systems-acquire-stako-131300129.html
Fri, May 28, 2021, 3:13 PM
- Westport Fuel Systems broadens its offering by acquiring capability for liquified petroleum gas (also known as “LPG” or “Propane Autogas”) fuel storage manufacturing.
- Bolt-on acquisition supports energy transition to cleaner fuels in emerging markets.
Westport Fuel Systems Inc. (TSX | Nasdaq: WPRT) today announced that it has reached an agreement to acquire Stako sp. z o.o., the liquid petroleum gas fuel storage manufacturing subsidiary of Worthington Industries Inc. in a transaction valued at €5 Million.
Based in Slupsk, Poland, Stako is a world leading manufacturer of LPG fuel storage, supplying the aftermarket and original equipment manufacturer (“OEM”) market segments through a worldwide network of dealers. Stako’s current product range includes over 1,000 models of LPG storage tanks. Over the last 30 years, the company has supplied tanks to leading automobile manufacturers worldwide, including VW, Renault, Fiat, Hyundai, Opel, Ford, Maruti Suzuki and many others.
“The acquisition of Stako represents a fundamental step towards our ability to supply completely integrated fuel systems. As a foremost global supplier of alternative fuel systems, we are well-positioned to offer a range of industry-leading solutions to prominent global OEMs,” said David M. Johnson, Chief Executive Officer of Westport Fuel Systems. “LPG and bioLPG emit less CO2 and pollutant emissions such as NOx than diesel and petrol, and support the transition to cleaner fuels, particularly in emerging markets where supply and existing infrastructure investment for LPG is substantial.”
With almost 27 million vehicles powered by LPG globally, it is the most common alternative fuel used in the world today, due in large part because of the price advantage offered in many countries to operate an LPG vehicle versus higher operating costs for an equivalent model fueled by petrol or diesel.
Stako sp. z o.o.
https://stako.pl/
started producing boilers, tanks and vessels in the 1960s. The company is one of the largest suppliers of LPG fuel storage tanks to the aftermarket segment, establishing valuable relationships with important OEMs over many years. It is a world leader in the production of LPG fuel storage (toroidal and cylindrical) for automotive applications.
Worthington Industries (NYSE:WOR)
https://worthingtonindustries.com/Home
is a leading industrial manufacturing company delivering innovative solutions to customers that span many industries including transportation, construction, industrial, agriculture, retail and energy. Worthington is North America’s premier value-added steel processor and producer of laser welded products; and a leading global supplier of pressure cylinders and accessories for applications such as fuel storage, water systems, outdoor living, tools and celebrations. The Company’s brands, primarily sold in retail stores, include Coleman®, Bernzomatic®, Balloon Time®, Mag Torch®, Well-X-Trol®, General®, Garden-Weasel®, Pactool International® and Hawkeye™. Worthington’s WAVE joint venture with Armstrong is the North American leader in innovative ceiling solutions.
About Westport Fuel Systems
Westport Fuel Systems is driving innovation to power a cleaner tomorrow. The company is a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry. Westport’s technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America and South America, the company serves customers in more than 70 countries with leading global transportation brands.
For more information, visit
https://wfsinc.com/
Investor Inquiries:
Christine Marks
Investor Relations
T: +1 604-718-2046
E: invest@wfsinc.com
Legal Proceedings
Source
https://sec.report/Document/0001104659-21-073367/
PAGE 69
May 27, 2021
On July 19, 2018, two of our shareholders brought a shareholder derivative suit on behalf of Renren, as a nominal defendant, against Joseph Chen, our chief executive officer and chairman of the board of directors and David Chao, a former director. On December 5, 2018, another derivative suit was filed by a shareholder on behalf of Renren, as nominal defendant, against Joseph Chen, David Chao, several DCM entities, and Duff & Phelps, financial advisor to the special committee of the board of directors. On January 11, 2019, the plaintiffs in the two actions filed a joint motion to file a consolidated derivative complaint by February 1, 2019. On February 27, 2019, the court granted the consolidation motion and consolidated the cases under the caption In re Renren, Inc. Derivative Litigation, Index No. 653594/2018 (Sup. Ct. N.Y. Cty.). On March 7, 2019, plaintiffs filed a consolidated complaint in the consolidated case against Joseph Chen, David Chao, the DCM entities, Duff & Phelps, and Oak Pacific Investment. The complaint alleges that the valuation assigned to Oak Pacific Investment for purposes of the OPI Transaction undervalued the assets held by Oak Pacific Investment by several hundred million dollars and that the director defendants used the OPI Transaction to enrich themselves at the expense of other shareholders. The complaint further alleges that Duff & Phelps and the DCM Entities aided in the alleged acts relating to the OPI Transaction and that Oak Pacific Investment knowingly received the alleged improperly transferred assets. There are no claims asserted against Renren, but Renren may be subject to claims by certain of the defendants. On May 1, 2019, the court ordered a schedule for the briefing of several threshold issues, including service of process, jurisdiction and plaintiffs’ standing to pursue their claims. Renren and the defendants filed their motions to dismiss on these issues on May 10, 2019. On May 20, 2020, the court denied the motions to dismiss. Pursuant to a so-ordered stipulation, Renren and defendants Joseph Chen, David Chao, the DCM Entities, and Oak Pacific Investment answered the amended complaint on July 2, 2020 and defendant Duff & Phelps submitted supplemental briefing in support of its motion to dismiss the amended complaint on July 3, 2020. On June 22, 2020 and June 23, 2020, Renren and the defendants filed notices of appeal to the Appellate Division of the Supreme Court of the State of New York, First Judicial Department of the decision on the motions to dismiss. On January 6 and 7, 2021, Renren and the defendants entered into a court-compelled mediation which failed to produce any agreement amongst plaintiffs and defendant class. On March 18, 2021, the First Department reaffirmed the initial denial of the motion to dismiss. On March 31, 2021, the defendant filed an amendment to the consolidated case against the defendants to enjoin additional defendants as well as allege that such defendants aided OPI in fraudulent conveyance to frustrate plaintiff’s recovery.
From time to time, we have become and may in the future become a party to various legal or administrative proceedings arising in the ordinary course of our business, including actions with respect to intellectual property claims, breach of contract claims, labor and employment claims and other matters. Internet media companies are frequently involved in litigation based on allegations of infringement or other violations of intellectual property rights and other allegations based on the content available on their website or services they provide. See “Item 3.D. Risk Factors—Risks Related to Our Business and Industry—We have been and may continue to be subject to intellectual property infringement claims or other allegations by third parties for services we provide or for information or content displayed on, retrieved from or linked to our website or distributed to our users, which may materially and adversely affect our business, financial condition and prospects.” Although such proceedings are inherently uncertain and their results cannot be predicted with certainty, we believe that the resolution of our current pending matters will not have a material adverse effect on our business, consolidated financial position, results of operations or cash flow. Regardless of the outcome, however, any litigation can have an adverse impact on us because of defense costs, diversion of management’s attention and other factors.
Directors and Senior Management
The following table sets forth information regarding our directors and executive officers as of the date of this annual report.
Directors and Executive Officers, Age, Position, Title
Joseph Chen, 51, Chairman, Chief Executive Officer, Director
James Jian Liu, 48, Director, Chief Operating Officer
Hui Huang, 48, Independent Director
Chuanfu Wang, 56, Independent Director
Cong Lin, 40, Independent Director
Yi Yang, 48, Acting Chief Financial Officer
Rita Rui Yi, 52, Vice President for HR
He Li, 37, Vice President for SaaS and Trucker Path
Michael McGowan, 45, Vice President of Sales, Chime Technologies
Joseph Chen is the founder of our company. Mr. Chen has served as the chairman of our board of directors and chief executive officer of our company since our inception. He is also serving as a director of Kaixin. Mr. Chen is a pioneer of China’s internet industry. Before founding our company, Mr. Chen was the co-founder, chairman and chief executive officer of ChinaRen.com, a first-generation SNS in China and one of China’s most visited websites in 1999. He served as senior vice president for Sohu.com after ChinaRen.com was acquired by Sohu.com in 2000. Mr. Chen holds a bachelor’s degree in physics from the University of Delaware, a master’s degree in engineering from the Massachusetts Institute of Technology, and an MBA degree from Stanford University.
James Jian Liu has served as our director since January 2008 and chief operating officer since February 2006. Mr. Liu is also acting as a director of Kaixin and our interim Vice President for Games. Before joining our company, he was the co-founder and chief executive officer of UUMe.com, one of the earliest social networking service websites in China. He served as product management director at Fortinet in its early years and held a senior product manager role at Siebel Systems. Mr. Liu started his career as a management consultant with the Boston Consulting Group in China. Mr. Liu holds a bachelor’s degree in computer science from Shanghai Jiao Tong University and an MBA degree from Stanford University, where he was an Arjay Miller Scholar.
Hui Huang has served as our director since January 2015. Ms. Huang served as the chief financial officer of our company from March 2010 to December 2014. From 2007 to February 2010, Ms. Huang was the chief financial officer and director of Cathay Industrial Biotech Ltd. From 2003 to 2007, she was an executive director and Shanghai chief representative of Johnson Electric Capital Limited. From 2000 to 2003, she was an associate of Goldman Sachs (Asia) L.L.C. in its principal investment area and executive office. From 1994 to 1998, she was an associate with the Boston Consulting Group. Ms. Huang received a bachelor’s degree in industrial foreign trade from Shanghai Jiaotong University in 1994, and received an MBA degree from the Wharton School of the University of Pennsylvania in 2000.
Chuanfu Wang has served as a director of our company since May 2012. Mr. Wang is the chairman of the board, an executive director and the president of BYD Company Limited (HKG:1211). He has been an executive director of BYD Company Limited since June 2002, in charge of its general operations and overall strategies. Mr. Wang is currently also a non-executive director and the chairman of BYD Electronic (International) Company Limited (HKG: 0285). Mr. Wang founded Shenzhen BYD Battery Company Limited, the predecessor to BYD Company Limited, in February 1995. Before that he served as the deputy director of the Beijing General Research Institute for Nonferrous Metals from 1990 to 1995. Mr. Wang has received many awards, prizes and recognitions, such as Hong Kong’s Bauhinia Cup Outstanding Entrepreneur Award in 2000 and BusinessWeek’s “Stars of Asia” in 2003, among others. In addition, Mr. Wang was elected as a representative in the Shenzhen People’s Congress in March 2000, a member of the Fourth Shenzhen Municipal People’s Congress Standing Committee in May 2005, and a member of the Fifth Shenzhen Municipal People’s Congress Standing Committee in 2010. Mr. Wang graduated from the Central South University of Technology (now Central South University) in Changsha in 1987, majoring in physical chemistry of metallurgy. He received his master’s degree in physical chemistry of metallurgy at Beijing General Research Institute for Nonferrous Metals in 1990.
Lin Cong has served as our director since July 2020. He is also a director of Kaixin and Uxin Limited (Nasdaq: UXIN). He has served as the Vice President of 58.com Group since March 2017. Before joining 58.com, he was the co-founder and Chief Financial Officer of Youche.com, an used car dealer chain in China. Mr. Cong took the VP positions of Finance and IT with 58.com before establishing Youche.com, where he served as CEO from February 2014 to March 2017. Mr. Cong also served as management consultant with Boston Consulting Group from August 2008 to August 2009 and as an auditor with PriceWaterhouseCoopers in China from August 2002 to May 2005. Mr. Cong holds a bachelor’s degree in accounting from Tsinghua University and an M.B.A. degree from Stanford University.
Yi Yang has served as acting chief financial officer of our company since June 2020. Ms. Yang joined Kaixin Auto Holdings (Nasdaq: KXIN) in August 2019 as chief financial officer. Prior to joining Kaixin, Ms. Yang served as strategic investment director for Jomoo, a leading manufacturer and supplier of home products, such as kitchen and bathroom units, in China. Prior to that, she was chief financial officer at Wellong Etown, an internet-based logistics company. Ms. Yang has also worked at the Bank of New York Mellon as vice president and controller, where she formulated strategic financial plans, participated in asset restructurings, and worked on numerous large domestic and cross-border M&A transactions. Ms. Yang received a master’s degree in Computer science from Saint Joseph’s University in the U.S. She is a certified public accountant, and a member of American Institute of Certified Public Accountants (AICPA).
Rita Rui Yi has served as vice president in charge of human resources of our company since October 2016. Prior to joining our company, Ms. Yi served as the human resource senior director of RealNetworks in charge of human resource business partner management work, covering both the greater China region and South Asia region. Prior to that, Ms. Yi also gained human resource management experience from ING Capital Life Insurance Company, General Electronic and Northern Telecom. Ms. Yi received a bachelor’s degree in tourism economy from Beijing International Studies University and received an MBA degree from McMaster University in Canada in 2001.
He Li has served as vice president of our company since 2014 and is now in charge of SaaS and Trucker Path. Mr. Li joined our company in 2011 and has since held various positions in research and development. Mr. Li received a bachelor’s degree in Computer Science and a master’s degree in Software Science Theory from Peking University.
Michael McGowan has served as a vice president of sales for Chime Technologies, one of our U.S.-based SaaS businesses, since March 2019. Prior to joining our company, Mr. McGowan served as vice president of sales for Commissions Inc., a real estate based SaaS company headquartered in Atlanta, from 2017 to 2019. Before that, Michael was a regional vice president in the financial services and financial technology industry with Transamerica from 2014 to 2017. Mr. McGowan served in the United States Marine Corps before entering the corporate world, from 1993 to 2002, completing several combat tours of duty. Mr. McGowan earned his bachelor’s of science from Saint Leo University in accounting and his master’s in business administration from Arizona State University.
Annual_Report_2020_ENG_Final.pdf
source
https://www.investors.artificial-solutions.com/wp-content/uploads/Annual_Report_2020_ENG_Final.pdf
Earnings Call Transcript - CloudMD Software & Services Inc. (DOCRF) CEO Essam Hamza on Q1 2021 Results.
source
https://seekingalpha.com/article/4431852-cloudmd-software-services-inc-docrf-ceo-essam-hamza-on-q1-2021-results-earnings-call
May 28, 2021 12:02 AM ET
Company Participants
Julia Becker - Vice President of Investor Relations
Essam Hamza - Chief Executive Officer
Karen Adams - Chief Health Innovation Officer, Global Head of Enterprise Health Solutions
Daniel Lee - Chief Financial Officer
Conference Call Participants
Doug Taylor - Canaccord Genuity
Rob Goff - Echelon
Gabriel Leung - Beacon Securities
Nick Agostino - Laurentian Bank Securities
Operator
Good afternoon and welcome to CloudMD's Q1 earnings conference call and webinar. My name is Jewel and I will be a conference facilitator today. As a reminder, this conference call is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer period.Thank you. It is now my pleasure to turn the call over to Julia Becker, VP, Investor Relations for opening remarks.
Julia Becker
Perfect. Thank you Jewel and good afternoon everyone. Thank you so much for joining us today, May 27, 2021 for our first quarter 2021 earnings conference call and webinar. We will start the call with a summary from our Chief Executive Officer, Dr. Essam Hamza, followed by our Chief Health Innovation Officer and Global Head, Enterprise Health Solutions. Karen Adams, who will provide further commentary on our enterprise health solutions division or as we often refer to as our EHS division. Our Chief Financial Officer, Dan Lee will then recap the company's first quarter 2021 financial results before opening up for a question-and-answer period from the analysts.
A friendly reminder to everyone that today's discussion contains forward-looking information which involve inherent risks and uncertainties and other factors that could cause actual results to differ materially from management's current expectation. Forward-looking statements should not be read as assurances of future performance or results. The risks related to the forward-looking information are described in the company's Annual Information Form for the period ended December 31, 2020, which is available on SEDAR under the company's profile and in the company's Management Discussion and Analysis for the year ended December 31, 2020 and the quarter ended March 31, 2021, both of which are also available on our profile on SEDAR.
We encourage listeners to review our disclosure in the context of the forward-looking information we make here today during this earnings call. Investors are also cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this call. The company disclaims any intention or obligation, except to the extent required by law, to update and revise any forward-looking statements as a result of new information, future events or for any other reason.
With that done, it is my pleasure to turn the call over to Dr. Essam Hamza, CEO of CloudMD. Essam, the floor is yours.
Essam Hamza
Thank you Julia and good afternoon and thank you for joining us for our first quarter earnings call and webinar. I am very excited to share the details of our record Q1 2021 operational and financial results. CloudMD has made solid strategic and financial progress in the first three months of 2021, following a transformational year in 2020 where we built a foundation that positions us to be leaders in the delivery of healthcare.
In the middle of a global pandemic, we were not only able to keep our operations running but also built consistent growth across our entire business. Through this transition, our mission and vision have never changed. CloudMD is a healthtech company revolutionizing the delivery of healthcare through a patient-focused, whole-person approach to care. By leveraging technology, we are building a complete and connected healthcare ecosystem that addresses all points of a patient's care including primary care, virtual care, mental health support, access to specialist, health navigation and education. This proprietary platform underpins our organic growth strategy which we continue to see across all lines of our business.
The company was built on three foundational pillars that continue to serve us well.
- First, patient-centric longitudinal healthcare is the future and results in better access to care and improved outcomes.
- Secondly, we are led by a team of medical professionals, doctors and industry experts that understand the pain points of the fractured medical system and share their vision of team-based whole-person care.
- And finally, in order to execute on this vision and build a connected ecosystem, we must own our own technology solutions. Technology is the great equalizer that allows us to provide better access to healthcare and connect to siloed aspects through healthcare navigation.
We are delighted with our Q1 2021 operating and financial performance. We reported record revenue of $8.8 million, 187% increase from Q1 2020 and 51% increase from Q4 2020, largely attributable to strategic M&A and organic growth. In the quarter, we closed five acquisitions, adding $13 million in annual revenue and we established our transformational enterprise health solutions division, which Karen will speak to you shortly. In addition, the operating businesses are collaborating to leverage our assets creating the whole-person healthcare ecosystem. All of our acquisitions are high-growth, accretive and synergistic with cross-selling opportunities to drive further organic growth.
In February, we closed an oversubscribed $58 million bought deal financing, which provides us with strategic capital to deploy on mergers and acquisitions. We are well-funded with almost $100 million in the bank. In addition to being well-funded, we have access to debt financing and are looking at options to fund our future M&A activities while conserving cash and equity.
We view our businesses into three categories and it's important to note these categories are not siloed and they capitalize on each other's capabilities and are synergistic with each other.
We categorize our businesses into
- clinic services and pharmacies,
- digital services
and finally
- enterprise health solutions. We are proud to announce that we achieved growth across all divisions in the first quarter and expect to see continued growth throughout 2021.
Our clinics and pharmacies network consists of 14 hybrid clinics, two pharmacies and approximately 100 practitioners servicing over 500,000 patients. Our hybrid clinics include both in-person and telemedicine visits which capture the full revenue potential from a patient. Over the last year, we have seen a significant increase in telemedicine adoption by our clinic network and we have experienced a 20% increase in patient visits in every quarter since the launch of our CloudMD app in February 2020. Our telemedicine service complements our other businesses including the enterprise health solutions division and we are focused on providing longitudinal whole-person care by integrating this service with our other offerings.
Our healthtech solutions collectively make up our digital services category. In Q1, we announced the acquisition of addition of our VisionPros, adding over $35 million in annual revenue. At the end of the quarter, we closed the acquisition of IDYA4, the technology platform used to connect our ecosystem. Since we announced the acquisition in December 2020, IDYA4 has recognized over $1.5 million in contract wins and we expect significant organic growth throughout the year.
The enterprise health solutions division was launched in Q4 2020 and along with Re:Function and assessments in rehabilitation clinic network, it will represent approximately 44% of the company's $120 million annualized revenue run rate. We launched this division with a focus on client needs of cost optimization, targeted clinical solutions that were outcome-based supporting access to care for individuals with health and well-being concerns.
I will now pass it over Karen Adams to give an update on the enterprise health solutions division.
Karen Adams
Thank you Essam. This division was founded on targeted acquisition that had reoccurring revenue and all with strong client bases. Our differentiator is that we created a market-leading position through integrating our clinically, evidence-based capabilities and nurse-care navigator platform for the seamless delivery of mental and physical health to individuals. This access and quality of care creates a better user experience and optimized cost for employers while delivering health outcomes. We continue to make progress on executing our strategic plan while making delivered investment in enhancing our capability.
I am extremely proud of the team's effort in growing our core business capability within enterprise health solutions, EHS and the adoption of our integrated offerings launched in Q1. Our Q1 results fully reflect the effect of last year's acquisition of iMD, Re:Function and Snapclarity. Subsequently, in Q1 we completed the following acquisitions, HumanaCare, a national employee and family assistance program or commonly referred to as EFAP, a mental health solution provider based in Ontario. This acquisition expands our ability to service the employer mental health market need expanding breadth and depth of services to address mental health. HumanaCare has forged solid long-term client relationships and served through client and third-party brokers using innovative solutions.
And Medical Confidence, a national Canadian leader in healthcare navigation. Medical Confidence has built a strong reputation for innovative solutions in managing health issues of those on disability through outcome-driven care pathways and solid long-term relationships with clients. This acquisition enables us to leverage healthcare navigation as foundational to our ecosystem, providing a strong value proposition to ensure brokers and organization to optimize health outcome and cost. These company's financial results are only partially reflected in our Q1 results.
We have seen a strong adoption of our strategy to organic growth, which was slightly above 10%, resulting from a new distribution partnership and a strong sales pipeline. Including assessment and rehabilitation clinic network, EHS revenue was $3.1 million in Q1. This was driven by innovation, technology-enabled products and reoccurring revenue. In Q1, we launched a change management office to execute our integration initiative to better focus on user experience and manage priorities. This has resulted in increased revenue as well as gross margin and EBITDA expansion through several initiatives, including consolidation of our back-office platforms for iMD which is our educational resources, Snapclarity, our mental health online assessment tool and HumanaCare to strengthen the company's position as a leader in mental health support solution.
We initiated our first phase of integration with shared services for recently acquired companies. Additionally, we executed on cost synergies near the end of the quarter and will realize $500,000 in annual cost savings going forward. Second, expansion enhancement of our client acquisition and servicing team. And third, the introduction of a VP of Product Management to identify workflow solutions that improves the user experience.
I will now touch on some of the business highlight of Q1 as we focus on creating a leading health navigation service in the markets we serve. A key part of our growth strategy is our integrated health navigation platform. In Q1, we focused on implementation of our health navigation platform with a premier 11,000 life group. We have a strong pipeline for the integrated offering and have completed numerous proposals for clients interested in this specific platform to connect well-being for mental and physical health while optimizing their group benefits plan.
In addition, we are in contact with three insurers for our healthcare disability navigation, product that will be leveraging the platform as they reduce disability days and focus on return to work. These contracts will be implemented in the coming quarters.
In our mental health support, which includes EFAP, we added many new contracts to our platform and made our evidence-based mental health assessment tool through Snapclarity available to EFAP customers with an adoption rate of 45% in Q1. We continued to see momentum in new lives added to broker relationships who market our services to their client base. We have several proposals for distribution partnership. We launched the first mental health coaching program with assessment, triage and navigation, as well as a virtual trauma support program. Finally, in our assessment and rehabilitation capability, we earned new contracts with government agencies and have expand to new capabilities in psychological assessments for prevention and early intervention.
We also implemented a new approach to assessments for psychological impairment with a major insurer in providing assessment and treatment for claimants. We are focused on growth but we have identified further cost saving synergies as we continue to integrate capabilities across all of CloudMD, creating margin and EBITDA expansion while providing access to quality clinical care. Client satisfaction rates are trending above our internal targets, solidifying our confidence in continued growth of our strategy in the coming months. We launched our services in the United States and are recipients of a new distribution partnership with a national group benefits provider who will be implemented in the coming quarters.
Our four pillars of performance focus on,
- number one,
continued growth of solid reoccurring revenue in the core businesses.
- Number two,
actively manage integration of the entity that are critical to our product offering and EBITDA growth.
- Number three,
continued development of our technology utilizing the recently acquired health and wellness platform of IDYA4 to enable health navigation in connection of acquired company's associated capabilities. And
- number four,
U.S. expansion through leveraging our health and wellness platform and health capabilities.
Our clients have worked with us to create a market-leading solution that transforms the way health benefits are delivered to employees, resulting in reduced disability days, improved access to care and medical-based navigator through our able to respond and adjust treatment. We continue to focus on access and quality of care through the development of our ecosystem platform connecting both mental and physical health programs, providing one seamless delivery for mental, physical and specialist support.
I will now turn it over to Daniel Lee, our CFO, for the financial update.
Daniel Lee
Thank you Karen. As Essam and Karen touched on, it was a very good quarter for the business. We are very excited by our Q1 2021 results and the framework we have built for scale and growth. I will now walk through our fiscal 2021 first quarter results.
For the quarter, total revenue was $8.8 million, compared to $5.8 million in Q4 2020 and $3.1 million in Q1 2020. The increase is primarily attributable to acquisition growth with five acquisitions completed in the quarter and 11 acquisitions completed in the last 12 months. Excluding the impact of Q1 business acquisitions, the company achieved organic growth from its existing businesses. While the majority of the company's historical revenues were derived from clinic services and pharmacies, we expect enterprise health solutions and digital services to comprise of over 80% of total revenues starting in Q3 due to the company's recently completed and announced acquisitions.
For the quarter, gross margin was 41% in Q1 2021, compared to 40% in Q4 2020 and 37% in Q1 2020. The increase was primarily attributable to revenue mix where higher margin revenues from enterprise health solutions and digital services made up a stronger percentage of overall revenues. Given the completed and announced acquisitions, the company does expect its future gross margin to settle in the 35% range. While both Rxi and VisionPros are profitable, they do operate in high-volume, lower margin businesses which affect our overall gross margin.
For the quarter, adjusted EBITDA was a loss of $1.5 million in Q1 2021, compared to a loss of $1.5 million in Q4 2020 and a loss of $800,000 in Q1 2020. The company expects to improve its adjusted EBITDA performance in the coming quarters, which includes the profitable businesses we acquired in the last 12 months and the cost synergies we have started to realize near the end of Q1.
Turning now to the balance sheet. Cash and cash equivalents were $99 million at March 31, 2021, compared to $60 million at December 31, 2020. In Q1 2021, the company raised gross proceeds of $58 million in a bought deal financing in March 2021 and the company paid $13 million for five acquisitions, net of cash acquired in the quarter. Currently, the company has a cash and cash equivalent position of approximately $95 million and we anticipate the acquisitions of VisionPros and Oncidium to close some time in June 2021.
Lastly, given our Q1 2021 financial performance, we reiterate that CloudMD's annualized revenue run rate exceeds $120 million. We calculate our annualized revenue run rate based on a combination of, one, the last 12 month of revenues from our existing businesses and two, 2020 annualized revenue run rate for acquisitions completed since October 2020 and acquisitions announced but not yet closed, including VisionPros and Oncidium. CloudMD's annualized revenue run rate is intended to serve as a baseline for the business. This baseline does not include the organic growth that we are currently witnessing within the enterprise health solutions division or post-acquisition cross sell synergies we are seeing in our other businesses, discerned as an upside to our numbers. We are well-positioned for growth and this is why we are very excited about the future of CloudMD.
With that said, I would like to turn the call back to Essam for closing remarks of a very successful quarter.
Essam Hamza
Thank you Daniel. Everyone at CloudMD is proud of the work we are doing to transform the delivery of healthcare and the momentum we are seeing in the market. I would personally like to take a moment to thank our incredible team at CloudMD for their hard work and dedication to our vision. The company is well-funded to execute on its strategy with a strong financial position and access to capital. Our mission is to provide better access and improved healthcare outcomes to patients globally and we are very excited about the growth of CloudMD in the coming quarters and years. I thank our shareholders and analysts for their continued support.
And with that, I will ask the operator to open up for calls.
Question-and-Answer Session
Operator
And our first question comes from Doug Taylor with Canaccord Genuity. Your line is now open.
Doug Taylor
Yes. Thank you. Good evening. In the past, you provided a couple data points that helped us think about the organic growth post-acquisition of some of the elements mostly within the EHS segment. I know, Karen, you walked through a number of areas of success. But I wonder if you could provide us with or offer up any sort of quantitative numbers that help us think about the organic growth that you are seeing now to layer on top of that baseline $120 million revenue that you speak to?
Karen Adams
Dan, do you want me to take that?
Daniel Lee
Why don't I answer that first and Karen, feel free to add more comments to that. So Doug, so we did announce back in March about $5 million of new contract wins within enterprise. And so within Q1, we did realize about $250,000 of revenues coming from those contracts. And in Karen's prepared remarks, she did mention that we did experience a 10% organic growth within enterprise. And basically how the number is derived is taking our 2020 EHS revenue run rate. So when we had acquired those companies, we had a baseline and so the organic growth coming from these contract wins were adding about, call it about, $1.5 million of revenues to our 2021 numbers. So kind of just to answer your question, we have $120 million revenue run rate. And that increases by about $1.5 million specifically for 2021.
Doug Taylor
Okay. That's helpful in helping us think about that. You mentioned the cost synergies that you have achieved since, I believe, last time you talked to about $0.5 million. Can you just talk to what you have recognized out of that? And whether $0.5 million is still the number that you confirmed that that's the number that you are still seeing? Or have you uncovered anymore in addition to that?
Daniel Lee
Yes. So I will start, just in terms of talking about Q1, Doug. And Karen can certainly provide more color. So in terms of Q1, we did execute those synergies near the end of the quarter. And so there hasn't been a lot of savings baked into our Q1 numbers. But we will see $0.5 million annualized run rate in our model going forward, starting in Q2.
Karen Adams
Yes. The only other piece I would add is, we continue to look for the synergies through the change management office and identifying as new acquisitions come onboard. Shared services and integration of capability is a focus for us around the future identification of synergies going forward. So it's an active focus and now part of our onboarding of acquisitions.
Doug Taylor
Right. We will obviously look for once those remaining acquisitions close. I believe the guidance you provided here was for positive EBITDA now in the second half of the year. And I just want to understand, should I be reading anything into that versus the prior Q3? Is there a distinction there? Or am I just overthinking that?
Daniel Lee
Yes. So in terms of EBITDA, we are expected to be EBITDA positive. We are getting closer to EBITDA positive, Doug. But with Oncidium and VisionPros being completed sometime in the next month or so, we do expect for us to be EBITDA positive on the backend. In addition to the acquisitions, we will be realizing the cost synergies that we have already executed but also we are identifying more savings down the road. So that will certainly help us on the backend.
I don't know if that answers your question or not.
Doug Taylor
I just want to confirm that there is really no change in your timetable or expectation there? It was just a change in the language that I am reading too much into? Is that fair?
Daniel Lee
Yes. So there is no change in our --
Doug Taylor
Well, I just wanted to clarify. I have had questions about it already. Last question for me and I guess this one to both Essam and Karen. I think in the last time you reported and since you have signaled a period where you are looking to digest all these targeted acquisitions that you have executed the last year. Would you say that's still the stance right now while you are awaiting the close of the remaining couple of acquisitions? Or are you still open to additional activity here in the near term?
Essam Hamza
Maybe I will start there, Karen. We are always open and do have a strong pipeline still of potential acquisitions that follow kind of the mandates that we talked about earlier when I mentioned kind of that are profitable growth companies that are synergistic with what we do. The difference now that I would say, Doug, that honestly is that we built the foundation already and we are able to now go and find really good value that can tuck into that infrastructure we have already built. And so I think there is going to be even greater opportunity to find additional add-in to what we do already. We don't need to find the big puzzle pieces because we have already created those acquisitions already and put them together. So we are going to be adding other M&A opportunities over the next few quarters.
Doug Taylor
Okay. Thank you for clarifying. And I will pass the line.
Operator
Thank you. Our next question will come from Rob Goff with Echelon. Please go ahead.
Rob Goff
Good afternoon and thank you for taking my question. I am going to ask two questions, if I may. The first one would be on VisionPros. If you could perhaps give us an update on what you are seeing there in terms of momentum on the subscription front? Anything around its new vision test? The other question was on the EHS side where Karen mentioned launching into the U.S. and adding distribution capabilities. If you could perhaps elaborate on that, it would be appreciated?
Essam Hamza
Thanks Rob. With regards to VisionPros, we are working on closing it right now. And so over the next month here, as Dan referred to, we should have that closed and announced to the market. At that time, I think we will update the market on what we are seeing in our expectations with VisionPros. Until then, we are probably not going to give any guidance on what we are seeing before we close it, if that's okay, Rob.
Rob Goff
Good. Understand.
Essam Hamza
Yes. And I will have Karen maybe expand on our U.S. expansion here.
Karen Adams
Yes. So we have put somebody in place who is in charge of our growth strategy for the U.S. for our enterprise health division, specifically around the mental health. And they are actively, they have a sales person reporting to them and they are completing proposals and have been successful in securing a distribution partnership with a benefits broker in the U.S. And we will be looking to roll that out over the next couple of quarters with that specific distribution partner.
Rob Goff
And perhaps, in terms of your distribution partner, would you be targeting large enterprise, mid enterprise or any sort of target profiles you could provide?
Karen Adams
Yes. I think with this specific distribution partner, I would say we are looking in the mid-market which is still large in the U.S., as you know. So we are looking at the mid-market right now and using the mental health assessment and the navigation platform becomes relatively easy for us to deliver across the U.S. So we are very excited about earning this opportunity with this broker.
Rob Goff
Very good. Thank you.
Karen Adams
Thank you.
Operator
Thank you. Our next question comes from Gabriel Leung with Beacon Securities. Your line is now open.
Gabriel Leung
Good afternoon and thanks for taking my questions. A couple things. First, just curious if you guys are able to provide an update on, I guess, the large corporate client that was onboarded on the enterprise side, I guess, a couple of months ago? Whether you have an update on how things are progressing there?
Karen Adams
So we launched that client and things to the client satisfaction is very high. It's very early to tell the outcome because we are in the client launched at the beginning, the end of April, beginning in May. So we are still in the early days. So most of the first quarter was in the implementation of that large client.
Gabriel Leung
Got you. So what are some of the metrics that you or your client will be gauging, will be reviewing to gauge whether the pilot is a success or not?
Karen Adams
That's a great question. So the first thing is access. So the number of people who access the program is our first metric. So they have a population base who are looking for access. So far, it is the most successful program they have launched. Note, those are their words. So we will be looking at access. We will also be looking at the people who utilize the resources. So we do have a number of online resources, both through iMD which is our educational resource company and through Snapclarity. So we will be gauging those. And then the third is people who are in need of treatment and the success ratio around the treatment. But those will be longer term metrics, just by the nature of the number of sessions required for people to actually get help through mental health. So the short term metrics that we are really focused on is, access, satisfaction with the resources and then access to care, if that makes sense.
Gabriel Leung
Got you. And then just staying on enterprise for a minute here. As I think about growth going forward, I think about pipeline of new potential customers. I also think about increasing utilization by members themselves. So I am curious if you can talk a little bit about both. What you are seeing in terms of pipeline opportunities, number one? Number two is, I guess on the EAP side, with HumanaCare, it's obviously early, but whether you have seen any evidence of increased utilization by members via some of the additional services that you can now offer?
Karen Adams
Yes. So it's early days. I always have to remind myself that it's early days. We did see, in the first quarter, an increase of 17% utilization of EFAP services. What I think you will see in the coming month, one the metrics that we are starting to measure is the number of customers utilize more than one services. As I mentioned in my remarks, we have through the integration team, structured a cross-sell team. So the sales people have all been trained on the product and are now in the process of taking to their clients the combined product offering. And so that is that is we are measuring and selling through our pipeline at this point.
And I guess, the other thing I should say, I guess the other thing just that I should mention that's important to bring you, it just occurred to me as you said it. the EFAP really has, in the first quarter, I think when you look at the number of new lives that they added to the platform and the utilization, they have done an incredibly good job in the first quarter. So we are up over Q4 as far as utilization. And most of that is attributed to the distribution partnership that they were able to secure in Q4 that launched in January of Q1. So that really is where we saw the uptick on the number of lives added to the platform, which was just over 6,000 lives.
Gabriel Leung
Got you. And actually just on that front, going forward, as Oncidium is brought into the mix and as the EAP practice gets bigger, to help us model, I guess, would you think that CloudMD will be in a position to provide metrics around members and so the PMPM and things like that? So you think that will be coming down the road?
Karen Adams
Yes. So we will just have to look at that because the Oncidium business is on a price per employee per month model. So the Oncidium model is more of a case price. They do medical management, case management, which is a case price. And then, of course, the EFAP is a price per employee per month. So I think it would be fair to assume tat we will be in a position to talk about cross-selling our ability to take EFAP product and market it to the Oncidium clients to create that market-leading product. We believe we have a market leading product that those customers are going to want. And so we will be in a position to talk about that at that point as those quarters rollout.
Gabriel Leung
Got you. That was helpful. And maybe one last question.
Karen Adams
Sure.
Gabriel Leung
Just as I think about growth going forward, is there sort of a target bookings number that management is aiming towards achieving whether in calendar 2021 or calendar 2022, now that you are very close to getting everything onboarded? Is there a number that you guys thought about or sort of targeting at this point?
Karen Adams
Daniel, did you want to take that?
Daniel Lee
Sure. So Gabe, we do internal meetings about this. We are not, I guess, at this time just ready to share that information. But we do analyze our business and review not only just our financials but also all key APIs, internal targets, et cetera. But we will certainly take it under advisement in terms of just additional information to share with you on what's going forward.
Gabriel Leung
Got you. I appreciate the feedback. Thank you.
Operator
Thank you. Our next question comes from Nick Agostino with Laurentian Bank Securities. Your line is now open.
Nick Agostino
Hi. Yes. Good afternoon. I guess my first question, I just want to make sure I heard clearly and then ask the question on the back of that is, Essam, did you say, you are seeing 20% increase in patient visits every quarter, I guess, since you launched the virtual care program? And if the number being the case, can you maybe provide some clarity around what the split is between virtual, the use your telehealth program versus in-person into your clinics? And then adding to that same question, how much repeat business are you guys seeing on the whole virtual care side of it?
Essam Hamza
Yes. Thanks Nick. So you are right. The number I think I did quote was 20%, I believe, quarter-over-quarter. That is with regards to the CloudMD app. So let me step back for a second and kind of describe what we have and what we have built. So we have the clinics, our clinics that are brick-and-mortar that we have converted into that hybrid clinic and when COVID hit, a lot of clinics around the country and around the world had to shutdown and unless you had a way to reach out to the patients, a lot of them lost revenue. We didn't.
We were able to close the physical door and open up our virtual doors immediately and those doctors in our network that are seeing patients for our company were continue to see them through our virtual platform that's seamless basically. So the same platform they use to see a patient in-person is the same platform that they can use to see the patient virtually, the same chart and everything else. So our own doctors within our network were able to turn on virtual care for the most part 100% of their visits in early on and still a great majority right now are virtual basically for those doctors seeing their own patients.
On top of that, we launched our CloudMD app in BC and Ontario. And that CloudMD app was for patients that didn't have a doctor or didn't have an access to doctor, it was amazing when we first launched it. Obviously with COVID, it allowed a lot of patience to see a doctor when they had no other options. And they were in distress and so on. So they are very grateful and we had great success with it. But on top of it, we have seen 20% quarter-over-quarter growth in that and those are repeat customers as well. So they are coming in.
They are seeing our doctors. It's not just, we don't only have family doctors that are seeing these patients. We have nurses. We have mental health professionals and so on that can help, we can send them for bloodwork. We can send them for referrals. We follow-up with them. We can address their concerns. We reach out to them and their families and so on. So we provide full care for them, not just episodic care. So that's the growth in the number of visits through the app is what we were referring to there and it continues to grow going forward.
Why I bring this up though is that we have created this full platform and this ecosystem that is going to continue even post-COVID because it is providing the full ecosystem of care to those patients. It's full care for all their needs basically. And it also has the ability to cross into and support our enterprise health division as well. So that's the reason that we build it the way we built it. It's sustainable. It's profitable. And it's growing not only as a standalone but as integrated with our EHS and our other divisions as well. So that's what we were referring to, if that helps.
Nick Agostino
Yes. Okay. Great. Thank you. And my second question is, I believe you have closed five acquisitions in the quarter itself, if I recall reading correctly. My question is, now that you had these companies as part of the CloudMD umbrella, you are able to look under the hood, any surprises upwards or downwards and specifically on revenue? In other words, is the revenue you are generating off of each and every one of those acquisitions that you closed in line with what your expectations that you provided?
Essam Hamza
Yes. Nick, I will start with that and I can hand it over to Karen or Dan. But yes, the reason we bought, remember these are companies we strategically went out and pursued. They were not for sale. They joined us because they share the same kind of vision in where healthcare is going. And the great thing about it is, they are already growth companies. They are already profitable. And we are able to add fuel to what they are offering immediately and have the ability to provide our network of patients and providers to what they already had. So the cross-selling has helped every one of our companies that we bought on so far. We did make reference to it in an earlier press release in the quarter, if you remember, mentioning the fact that as of the first two, three months of that quarter in the enterprise health division that they were able to recognize $5 million of new contracts just early on, just from since we closed it to the them that we released that press release.
So maybe Karen, you can refer a little bit to that. But before you do, we also mentioned IDYA4 in the same realm as well, saying that they were awarded another $1.5 million at the time that we announced that close.
Karen Adams
Yes. So I would just say a couple of things, Nick, to add to that. So yes, we are seeing organic growth that is, I would say, in line with our expectations because as Essam mentioned these were targeted strategic. They were known to us. I understand their capabilities very, very well. And to putting them together in a way that with a strong client base made sense. The second piece and I have to remind myself that these acquisitions being Q1, being January, we have done some incredible work around the synergies. And these synergies, I think, are coming together naturally because of the understanding of the people who work within these acquisitions, the importance of putting these products together. So they are motivated to be part of a synergistic exercise as opposed to when you do acquisition sometimes the synergistic opportunities have to be forced and you are looking for rationale for people. So people are gravitating quite easily. So when we look to the acquisitions from Q4 and we look at the ones we are doing now, including IDYA4, the traction to come together is very easy.
And the other piece, I think is important to acknowledge is we are leveraging capabilities outside of EHS, meaning we have had Snapclarity integrated into the virtual care product. We are using the digital services and we will be using the acquisitions we have talked about going forward that might be outside of the EHS as capabilities that will be connected in the ecosystem.-And I am pretty proud of the team that we have been able to not only get the $1.5 million in inorganic growth, but also the synergies that we have been able to recognize and the team working forward and the clients are coming to us and asking for proposals for these integrated offering, which is accelerating the need for the synergies. So where I sit, I am very pleased and I would say we are right where we expected to be with the traction. I would say, probably maybe even a little ahead of time as far as the activity base goes getting us to move forward with the synergies. So I am very pleased.
Nick Agostino
Okay. Thank you. That was all.
Operator
As there are no further questions, this concludes today's conference call. Thank you for participating. You may now disconnect.
Form 20-F Renren Inc. - Annual and transition report of foreign private issuers [Sections 13 or 15(d)].
source
https://sec.report/Document/0001104659-21-073367/
Published: 2021-05-27 17:30:30
Submitted: 2021-05-27
Filing Agent: Toppan Merrill/FA
Period Ending In: 2020-12-31
Please read the full Report at
https://sec.report/Document/0001104659-21-073367/
00726 - Zhuyou Intelligent Manufacturing Technology: voting results of the special general meeting of shareholders.
source
https://finance.sina.com.cn/stock/relnews/hk/2021-05-26/doc-ikmyaawc7692421.shtml
May 26, 2021 16:36 Stock Exchange--Easy Disclosure
DIT GROUP LIMITED Zhuyou Intelligent Manufacturing Technology Group Co., Ltd. (Incorporated in Bermuda with limited liability)
(Stock code: 726)
Voting Results of the Extraordinary General Meeting of Shareholders[/u]
I hereby refer to the notice of Zhuyou Zhizao Technology Group Co., Ltd. (the "Company") dated May 4, 2021 containing the notice ("Notice") of the Company's Extraordinary General Meeting ("Extraordinary General Meeting") Letter ("Circular"). Unless the context requires otherwise, the terms used in this announcement have the same meaning as those defined in the circular (if applicable).
Voting Results of the Extraordinary General Meeting
The board of directors is pleased to announce that the ordinary resolutions proposed in the notice (the "Resolutions" and the respective "Resolutions") have been approved at the extraordinary general meeting held on May 26, 2021. Shareholders formally approved it by voting. Computershare Hong Kong Investor Services Limited, the company's branch share registrar and transfer office in Hong Kong, has been appointed as the scrutineer for the voting at the extraordinary general meeting.
As of the date of the extraordinary general meeting, the total number of issued shares was 2,802,400,730 shares.
As disclosed in the circular and on the date of the special general meeting, (1) Jia Yao (International) Investment Co., Ltd., Jia Cheng (Holding) Investment Co., Ltd., Jia Heng (Holding) Investment Co., Ltd., and Schwab (Holding) Investment Co., Ltd. , Jianuo (Holding) Investment Co., Ltd. and Jiamin (Holding) Investment Co., Ltd. (both are indirect wholly-owned subsidiaries of Zhuyou Intelligent Manufacturing Industry, and Zhuyou Intelligent Manufacturing Industry is indirectly wholly-owned by Mr. Hu Baosen), and (2 ) Enhui Investment Co., Ltd. (which is directly wholly-owned by Mr. Hu Baosen) collectively controls and has the right to collectively exercise control over the voting rights of 2,025,177,425 shares. Therefore, it must abstain from voting on these resolutions at the extraordinary general meeting.
Therefore, after deducting the 2,025,177,425 shares controlled by Mr. Hu Baosen, the total number of issued shares held by shareholders who are entitled to attend and vote for or against these resolutions is 777,223,305 shares.
Except as disclosed above, no other shareholders are required to abstain from voting on these resolutions at the extraordinary general meeting. No shareholder is entitled to attend the EGM, but must abstain from voting in favour of the resolutions (as set out in Rule 13.40 of the Listing Rules) or must abstain from voting at the EGM under the Listing Rules. None of the shareholders stated in the circular that they intend to vote against or abstain from voting on any of these resolutions at the extraordinary general meeting.
The voting results of these resolutions are as follows:
Ordinary resolution* Number of votes (approximately %)
For against
1. Confirm, approve and ratify the proposed EPC service arrangement under the framework agreement, the terms of the EPC service arrangement and the estimated transaction value under the EPC service arrangement, and authorize any director to carry out the proposed arrangement under the framework agreement The EPC service arranges all relevant actions and matters, as well as signing, stamping, executing and delivering all relevant documents. 25,310 (99.80%) 50 (0.20%)
Ordinary resolution* Number of votes (approximately %)
For against
2. Confirm, approve and ratify the proposed supply arrangement, the terms of the supply arrangement and the proposed annual upper limit of the supply arrangement under the two framework agreement, and authorize any director to take all relevant actions regarding the proposed supply arrangement under the two framework agreement And matters, as well as signing, affixing a seal, executing and delivering all relevant documents. 25,310 (99.80%) 50 (0.20%)
3. Confirm, approve and ratify the proposed technology park design service arrangement, the terms of the technology park design service arrangement and the estimated transaction value under the technology park design service arrangement under the three framework agreements, and authorize any director to agree to the framework agreement The proposed technology park design service arrangement under the three items shall make all relevant actions and matters, and sign, stamp, execute and deliver all relevant documents. 25,310 (99.80%) 50 (0.20%)
* The full text of each resolution is contained in the notice.
Since more than 50% of the votes were cast in favor of the resolutions 1 to 3, the resolutions 1 to 3 were formally passed as ordinary resolutions of the company at the extraordinary general meeting.
By order of the board of directors
Zhuyou Zhizao Technology Group Co., Ltd.
Chairman and Executive Director
Liu Weixing
Hong Kong, May 26, 2021
As of the date of this announcement, the members of the board of directors are as follows: Mr. Liu Weixing (Chairman), Mr. Guo Weiqiang and Ms. Wang Jing are executive directors; Ms. Li Hua and Mr. Wang Jun are non-executive directors; Mr. Jiang Hongqing, Mr. Li Zhiming and Mr. Ma Lishan are independent non-executive directors. executive director.
Verimatrix Application Shielding Technologies Honored in 2021 Global Infosec Awards.
source
https://finance.yahoo.com/news/verimatrix-application-shielding-technologies-honored-154500703.html
Thu, May 27, 2021, 5:45 PM
Verimatrix, (Euronext Paris: VMX),
https://www.verimatrix.com/
the leader in powering the modern connected world with people-centered security, today announced its recognition by Cyber Defense Magazine as a 2021 Global Infosec Award
https://cyberdefenseawards.com/
winner in the NextGen for Application Security category.
Verimatrix’s powerful app shielding technologies are deployed across a vast variety of sectors, including some of the most security conscious markets. This most recent award underscores the unique protection methodology that is carefully engineered by Verimatrix and trusted by organizations around the world.
Verimatrix application shielding solutions, such as Verimatrix Code Protection,
https://www.verimatrix.com/products/code-protection/
have been deployed in more than 400 million downloaded mobile applications and IoT devices. The solutions easily integrate with applications and software components, avoiding unnecessary disruption to the software development cycle. Additionally, Verimatrix’s unique technology allows for the dramatic acceleration of time-to-market timelines, requiring minimal specialist security knowledge when integrating secure crypto architectures into an existing software build.
"We are pleased to receive this recognition that honors innovation specific to application security technology," said Asaf Ashkenazi, COO at Verimatrix. "Application shielding is essential in our digitally transforming society. Without it, sensitive data can potentially be lost or stolen and corporate reputations can be left teetering. We are proud to play a role in helping to protect the applications that so many organizations and people rely on every day."
"Verimatrix embodies three major features we judges look for to become winners: understanding tomorrow’s threats, today, providing a cost-effective solution, and innovating in unexpected ways that can help stop the next breach," said Gary S. Miliefsky, Publisher of Cyber Defense Magazine. "I congratulate Verimatrix for their win in the NextGen for Application Security category."
About Cyber Defense Magazine
With over 5 Million monthly readers and growing, and thousands of pages of searchable online infosec content, Cyber Defense Magazine is the premier source of IT Security information for B2B and B2G with our sister magazine Cyber Security Magazine for B2C. We are managed and published by and for ethical, honest, passionate information security professionals. Our mission is to share cutting-edge knowledge, real-world stories and awards on the best ideas, products and services in the information technology industry. We deliver electronic magazines every month online for free, and special editions exclusively for the RSA Conferences. CDM is a proud member of the Cyber Defense Media Group. Visit
https://www.cyberdefensemagazine.com/
About Verimatrix
Verimatrix (Euronext Paris: VMX) helps power the modern connected world with security made for people. We protect digital content, applications, and devices with intuitive, people-centered and frictionless security. Leading brands turn to Verimatrix to secure everything from premium movies and live streaming sports, to sensitive financial and healthcare data, to mission-critical mobile applications. We enable the trusted connections our customers depend on to deliver compelling content and experiences to millions of consumers around the world. Verimatrix helps partners get to market faster, scale easily, protect valuable revenue streams, and win new business.
To learn more, visit
https://www.verimatrix.com/
Contacts
Verimatrix Investor Relations Contact:
Richard Vacher Detournière
General Manager & Chief Financial Officer
+33 (0)4 42 905 905
finance@verimatrix.com
Verimatrix Media Contact:
Matthew Zintel
+1 281 444 1590
matthew.zintel@zintelpr.com