Shenzhen Stock Exchange
Shenzhen Stock Exchange
News Article | May 8, 2017
DUBLIN & HONG KONG--(BUSINESS WIRE)--Avolon, the international aircraft leasing company, today issues the second part of its White Paper series, ‘The Land of Silk and Money’, analysing the Chinese aviation market. The first part of this series, issued in March 2017, looked at the development, growth and gradual maturing of China’s domestic airline industry and the key drivers of growth over the next decade. In Part 2, China’s international inbound and outbound travel markets are analysed and a forecast made of the future fleet requirements of China’s airline industry. Key findings of the Second White Paper include: Dick Forsberg, Avolon’s Head of Strategy and author of the study, said: “This is the second part of our analysis of the Chinese aviation market, consistent with our Thought Leadership agenda which focuses on the fundamental issues facing the aviation industry. China offers an attractive long-term growth opportunity for domestic and international airlines, aircraft OEMs and aircraft leasing companies. Competition for airlines is likely to be intense as Chinese airlines focus on capturing their growth potential while being challenged by international carriers. There is also great potential for OEMs and lessors to capitalise on the under-ordered position of the Chinese industry, particularly in the widebody segment of the market.” Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is a wholly-owned, indirect subsidiary of Bohai Capital Holding Co., Ltd., a Chinese public company listed on the Shenzhen Stock Exchange (SLE: 000415). Avolon is the world’s third largest aircraft leasing business with a pro-forma owned, managed and committed fleet, as of 31 March, 2017 of 850 aircraft valued at c. US$43 billion. This document includes forward-looking statements, beliefs or opinions, including statements with respect to Avolon’s business, financial condition, results of operations and plans. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond our control and all of which are based on our management’s current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as “believe,” “expects,” “may,” “will,” “could,” “should,” “shall,” “risk,” “intends,” “estimates,” “aims,” “plans,” “predicts,” “continues,” “assumes,” “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved.
News Article | May 26, 2017
SHENZHEN, China & LONDON--(BUSINESS WIRE)--Hytera Communications Corporation Limited (002583.SZ), the leading global provider of innovative professional mobile radio (PMR) communications solutions that improve organizational efficiency and make the world safer, announced that as of 24 May 2017 it has completed its acquisition of the Sepura Group PLC, based in Cambridge, United Kingdom, the leading provider in TETRA products and solutions for organizations worldwide. "The PMR communications industry is seeing rapid evolution, and Hytera leads in incorporating new technologies and attractive features that deliver more effective solutions for our customers," said Mr. Qingzhou Chen, founder, chairman and president of Shenzhen, Guangdong-based Hytera. "Adding the Sepura Group complements our strengths in technological innovation, especially in TETRA, along with adding sophisticated engineering talent and an experienced operating team, and enhances our channel partnerships around the world." Sepura is a market leader in 20 countries and has end-customers in more than 100 countries, and has the second-largest market share in public security in Europe. Hytera's acquisition of Sepura adds approximately 700 professionals and staff to Hytera's organization. "Hytera has been investing strategically in Europe," said Mr. Chen. "In 2011, Hytera acquired what is now Hytera Mobilfunk GmbH in Germany, growing it into a significant PMR provider in Europe and one of our most important research centers. By adding Sepura, Hytera now has two more innovation centers, in the United Kingdom and Spain. With enhanced capabilities, we can better serve local markets and help to address increasing security challenges in Europe," added Mr. Chen. Established in 1993 in Shenzhen, China, Hytera Communications is the world's fastest-growing PMR solution provider, and the world's #1 DMR Tier III Trunking provider. Its more than 7,000 employees serve organizations in more than 120 countries, including in government, the public security sector, the utilities, transportation, and oil and gas industries, and a range of other businesses. In 2016, both Hytera and Sepura provided PMR solutions for event management and public safety at the 2016 Olympic Games in Brazil. Next year, Hytera will provide similar PMR communications solutions for security and event management for the 2018 World Cup in Russia. "Joining with Hytera gives us access to a broader cross-section of the market, gives our dealers the advantage of a wider range of products and solutions, and provides growth opportunities for our engineers and research and development technicians," said David Barrass, the interim Chief Executive Officer of Sepura. "With its growing momentum in the PMR space and some very high-profile opportunities, Hytera is executing a clear strategy as it expands globally. It's a terrific opportunity." Last year, Hytera reported year-over-year growth of 39%. In 2016, Hytera's overall sales of terminals were up 52%, and its overall sales of infrastructure increased 86%. The announcement of the Sepura deal's closing comes in the wake of Hytera's highly anticipated debut at Critical Communications World 2017 in Hong Kong of its new LTE-PMR Convergence Solution, which comprises cutting-edge Multi-mode Advanced Radio terminals, narrowband-broadband infrastructure, and management software. Hytera's LTE-PMR Convergence Solution incorporates feature-rich broadband technologies while ensuring that critically important voice services remain reliably accessible using narrowband technologies such as TETRA, DMR, and PDT. Hytera Chairman Qingzhou Chen will visit Sepura's offices in the U.K. and Spain in June to deepen relationships with key management and to meet personnel. "Hytera has tremendous momentum in the marketplace," he notes. "Last year, we became the second-largest PMR communications provider in the world, and we believe there remain excellent prospects for growth in key markets." Hytera Communications Corporation Limited is the leading global provider of innovative professional mobile radio (PMR) communications solutions that improve organizational efficiency and make the world safer. Established in 1993 in Shenzhen, China, Hytera Communications is the second-largest PMR provider in the world, the world's fastest-growing PMR solution provider, and the world's #1 DMR Tier III Trunking provider. Hytera's more than 7,000 personnel serve customers in 120 countries and regions, including government organizations, public security institutions, and customers in utilities, transportation, oil-and-gas, and other sectors. Fully 40% of Hytera's personnel are engaged in engineering, research and development, and product design. In 2011, Hytera became a publicly-listed company in China, trading on the Shenzhen Stock Exchange (002583.SZ); by the end of 2016, Hytera's market capitalization had grown 500% since going public. More information is at www.hytera.com. Founded in 2002 and serving customers in more than 100 countries, the Sepura Group has become a market leader in the design, manufacture, and supply of digital radio products, systems, and applications for business and mission-critical communications. The Sepura Group's portfolio includes TETRA, DMR, P25, and LTE system solutions for public safety organizations and commercial customers in transportation, utilities, oil and gas, manufacturing, mining, hospitality and construction. The Sepura Group includes Spanish PMR provider Teltronic S.A.U., and Finnish applications developer Portalify. More information is at www.sepura.com. Teltronic S.A.U. has more than 40 years of experience in the design, manufacturing, and implementation of turnkey TETRA, P25, and LTE digital and analog land mobile radio communications solutions worldwide, for customers in the transportation, public safety, utilities, and industrial sectors. Teltronic's portfolio includes end-user applications and systems for integrated command-and-control centers and custom surveillance. With more than 300 network references in 50 countries, Teltronic is dedicated to provide complete radio network infrastructures, control centers, and end-user equipment, including specialized onboard systems. For information is at www.teltronic.es.
News Article | May 23, 2017
News Article | May 8, 2017
Further, as previously announced, SeaWorld has signed agreements with an affiliate of Zhonghong Group to support the creation of concept designs and provide development analysis for theme parks, water parks, and interactive parks, along with supporting the visioning of a preliminary family entertainment center concept, and to evaluate potential development opportunities with Zhonghong Group in China, Taiwan, Hong Kong, and Macau over the next three years. These agreements are expected to generate approximately $14 million in revenue for SeaWorld over the next three years. About SeaWorld Entertainment, Inc. SeaWorld Entertainment, Inc. (NYSE: SEAS) is a leading theme park and entertainment company providing experiences that matter, and inspiring guests to protect animals and the wild wonders of our world. SeaWorld is one of the world's foremost zoological organizations and a global leader in animal welfare, training, husbandry, and veterinary care. SeaWorld collectively cares for what it believes is one of the largest zoological collections in the world and has helped lead advances in the care of animals. SeaWorld also rescues and rehabilitates marine and terrestrial animals that are ill, injured, orphaned, or abandoned, with the goal of returning them to the wild. The SeaWorld® rescue team has helped more than 29,000 animals in need over the last 50 years. SeaWorld Entertainment, Inc. owns or licenses a portfolio of recognized brands including SeaWorld, Busch Gardens®, and Sea Rescue®. Over its more than 50-year history, SeaWorld has built a diversified portfolio of 12 destination and regional theme parks that are grouped in key markets across the United States, many of which showcase its one-of-a-kind zoological collection. SeaWorld's theme parks feature a diverse array of rides, shows, and other attractions with broad demographic appeal which deliver memorable experiences and a strong value proposition for its guests. About Zhonghong Group Zhonghong Group was founded in 1993, and is a diversified holding company headquartered in Beijing, China, with investments in real estate, leisure, culture, and tourism industries. Most recently, the Zhonghong Group acquired Abercrombie & Kent, Group of Companies, S.A., a major international luxury and adventure tour operator. Zhonghong Group has over 13,500 employees globally with varied backgrounds ranging from tourism, finance, real estate, hospitality, leisure, and recreation. Zhonghong Holding Co., Ltd. (SHE: 000979) is an affiliate of Zhonghong Group and was listed in 2010 on the Shenzhen Stock Exchange. The company is principally focused on real estate development and management of leisure, culture, and tourism projects throughout China, with a large portfolio of land holdings in China's most strategic tourism destinations. Forward-Looking Statements In addition to historical information, this press release contains statements relating to future results that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections. SeaWorld generally uses the words such as "might," "will," "may," "should," "estimates," "expects," "continues," "contemplates," "anticipates," "projects," "plans," "potential," "predicts," "intends," "believes," "forecasts," "future", "guidance", "targeted" and variations of such words or similar expressions in this press release and any attachment to identify forward-looking statements. All statements, other than statements of historical facts included in this press release, including statements concerning plans, objectives, goals, expectations, beliefs, business strategies, future events, business conditions, business trends, the concept development and design agreements, SeaWorld's expectations with respect to anticipated revenue resulting from the concept development and design agreements and other information are forward-looking statements. The forward-looking statements are not historical facts, and are based upon current expectations, estimates and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond management's control. All expectations, beliefs, estimates and projections are expressed in good faith and SeaWorld believes there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs, estimates and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and other important factors, many of which are beyond management's control, that could cause actual results to differ materially from the forward-looking statements contained in this press release, including among others: a decline in discretionary consumer spending or consumer confidence; various factors beyond management's control adversely affecting attendance and guest spending at SeaWorld's theme parks, including the potential spread of contagious diseases; any risks affecting the markets in which SeaWorld operates, such as natural disasters, severe weather and travel-related disruptions or incidents; increased labor costs and employee health and welfare benefits; complex federal and state regulations governing the treatment of animals, which can change, and claims and lawsuits by activist groups; incidents or adverse publicity concerning SeaWorld's theme parks; any adverse judgments or settlements resulting from legal proceedings; cyber security risks and the failure to maintain the integrity of internal or guest data; inability to protect SeaWorld's intellectual property or the infringement on intellectual property rights of others; risks associated with SeaWorld's cost optimization program, capital allocation plans, share repurchases and financing transactions; SeaWorld's ability to execute on its strategy; the risk that Zhonghong Group's affiliate may be unable to make the required payments under the concept development and design agreements; the possibility that the concept development and design agreements might be terminated early; and other risks, uncertainties and factors set forth in the section entitled "Risk Factors" in SeaWorld's most recently available Annual Report on Form 10-K, as such risks, uncertainties and factors may be updated in SeaWorld's periodic filings with the Securities and Exchange Commission ("SEC"). Although SeaWorld believes that these statements are based upon reasonable assumptions, it cannot guarantee future results and readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date of this press release. There can be no assurance that (i) SeaWorld has correctly measured or identified all of the factors affecting its business or the extent of these factors' likely impact, (ii) the available information with respect to these factors on which such analysis is based is complete or accurate, (iii) such analysis is correct or (iv) SeaWorld's strategy, which is based in part on this analysis, will be successful. Except as required by law, SeaWorld undertakes no obligation to update or revise forward-looking statements to reflect new information or events or circumstances that occur after the date of this press release or to reflect the occurrence of unanticipated events or otherwise. Readers are advised to review SeaWorld's filings with the SEC (which are available from the SEC's EDGAR database at www.sec.gov and via SeaWorld's website at www.seaworldentertainment.com). To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/zhonghong-group-completes-acquisition-of-21-equity-interest-in-seaworld-entertainment-inc-300453475.html
News Article | February 15, 2017
HONG KONG, Feb. 15, 2017 (GLOBE NEWSWIRE) -- SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (NASDAQ:SPI), a global clean energy market place for business, residential, government and utility customers and investors, today announced that Xinwei Intelligent Power (Suzhou) Co. Ltd., (“Xinwei Intelligent”), a wholly owned subsidiary of the Company, has entered into a binding agreement with BOE Technology Group Co., Ltd. (“BOE” or “京东方”) to provide engineering, procurement and construction (EPC) services to a 3.28 megawatt distributed generation project (the “Project”) located in Suqian, Jiangsu Province. The Project is expected to complete its grid connection by June 30, 2017. “We are very pleased to work with BOE, one of the world’s leading players in semiconductor display technologies, products and services, and one of the leading players in smart system for photovoltaic energy solutions, which lists its A-shares and B-shares on China’s Shenzhen Stock Exchange,” said Xiaofeng Peng, Chairman and Chief Executive Officer of SPI Energy. “We see huge potential in China’s distributed generation market and the regions in which we operate. The national distributed power generation is expected to reach 60GW by 2020 according to the central government’s 13th Five-Year Plan. We are optimistic about the Chinese distributed generation market and we look forward to working closely with additional prestige partners such as BOE.” About SPI Energy Co., Ltd. SPI Energy Co., Ltd. is a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors. SPI Energy focuses on the downstream PV market including the development, financing, installation, operation and sale of utility-scale and residential solar power projects in China, Japan, Europe and North America. The Company operates an innovative online energy e-commerce and investment platform, www.solarbao.com, which enables individual and institutional investors to purchase innovative PV-based investment and other products; as well as www.solartao.com, a B2B e-commerce platform offering a range of PV products for both upstream and downstream suppliers and customers. The Company has its operating headquarters in Shanghai and maintains global operations in Asia, Europe, North America and Australia. This release contains certain “forward-looking statements.” These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially. All forward-looking statements included in this release are based upon information available to the Company as of the date of this release, which may change, and the Company undertakes no obligation to update or revise any forward-looking statements, except as may be required under applicable securities law.
News Article | February 28, 2017
BARCELONA, Spain--(BUSINESS WIRE)--Goertek announced at MWC 2017 that it is launching its 2nd generation standalone virtual reality (VR) head mounted display (HMD) reference platform utilizing the Qualcomm® SnapdragonTM 835 mobile platform. This VR HMD reference platform enables a creative and high performance standalone VR design environment that allows original equipment manufacturers (OEMs) to quickly develop VR HMDs. Offering 30% more computing power and advanced gesture control function for VR enthusiasts, it is the next leap forward from VR820. Goertek’s 2nd generation standalone VR HMD reference platform with Snapdragon 835 allows OEMs to choose from a pre-qualified set of components based on reference design products. The launch of this new reference platform is part of a greater initiative by Qualcomm Technologies, deemed the “HMD Accelerator Program,” designed as a catalyst for OEMs to create their own virtual reality HMDs. This reference platform with its advanced features is designed to provide the users a captivating, immersive VR experience. The key features include Goertek’s 2nd generation standalone VR HMD reference platform is a fully standalone VR HMD system built from the ground up around the Snapdragon 835. It features industrial, mechanical, thermal, electrical, optical, acoustic, and software development combined with the technology leading computing, graphics, audio, connectivity, and power management capabilities of the Snapdragon 835. The Snapdragon 835 is also engineered to provide high frequency inertial data sensing, motion to photon latency reduction, power efficiency management, and stereoscopic rendering with lens correction. This combination of each company’s expertise makes this reference platform a category-defining innovation. Devices based upon the platform are designed to work independently of any other device; no connection to auxiliary device or host device is required. “This is an exciting moment for the industry,” said Dr. Pen C. Li, vice president, product marketing, Goertek. “Congratulations to Qualcomm Technologies on the successful launch of the Snapdragon 835, which empowers Goertek’s cutting edge 2nd generation standalone VR HMD reference platform for OEMs in VR industry. The extensive years of experience in design, engineering and manufacturing, in both components and systems, has propelled Goertek to be a global ODM leader.” “Mobile will drive VR to the masses, and the Qualcomm Snapdragon 835 VR HMD reference platform developed in cooperation with Goertek is designed to provide a comprehensive platform to allow OEMs to accelerate the design and manufacture standalone VR HMDs,” said Hugo Swart, senior director, product management, Qualcomm Technologies, Inc. “This platform can help springboard OEMs to usher in the next generation of portable, untethered devices that are necessary for a wider adoption of VR.” Goertek’s 2nd generation standalone VR HMD reference platform established a milestone in mobile VR. The availability of a reference platform optimized for VR content and applications is definitely a boost for the industry; it delivers the processing and performance demands of an all-in-one device and exemplifies the expertise of a leading manufacturing partner. After years of strategic investment in design and system integration, Goertek has established itself as a global leader in total system design and manufacturing which includes algorithms, mobile software development, graphics processing, optical designs, lens manufacturing, system simulation, automatic test and production engineering. Goertek’s 2nd generation standalone VR HMD reference platform is available now; please contact Lilix Yang, PR Manager at email@example.com for details. Goertek is a global leader in total system design and manufacturing and was the worldwide #1 ODM for virtual reality HMD in 2016. Goertek Inc. was established in June 2001, and listed on the Shenzhen Stock Exchange in May, 2008. As a worldwide leading high-tech consumer electronics company, Goertek’s main focuses consist of R&D, production and sales of electro-acoustic components, including MEMS mic, sensor, miniature speaker, linear motor, antenna, CNC metal parts, optical component, camera module, and system product, including VR/AR and VR Accessories device, wearable device, smart hearable device such as smart speaker box and wired/wireless headphone/earphone, smart robots, and 360-degree camera, etc. Qualcomm, Snapdragon, Adreno, Hexagon and Kryo are trademarks of Qualcomm Incorporated, registered in the United States and other countries. Qualcomm All-Ways Aware is a trademark of Qualcomm Incorporated. Qualcomm Snapdragon, Qualcomm Adreno, Qualcomm All-Ways Aware, Qualcomm Hexagon and Qualcomm Kryo are products of Qualcomm Technologies, Inc.
News Article | February 16, 2017
Ballard Power Systems has signed a definitive agreement relating to technology transfer, licensing and supply arrangements with strategic partner Zhongshan Broad-Ocean Motor Co., Ltd. (Broad-Ocean) for the assembly and sale of FCveloCity 30 kW and 85 kW fuel cell systems in China. Under the deal, Broad-Ocean will manufacture fuel cell modules in three strategic regions in China, including Shanghai. The deal has an estimated value of approximately $25 million in revenue to Ballard over the initial 5-year term, including $12 million in Technology Solutions revenue. In August 2016, Broad-Ocean became Ballard’s largest shareholder following an investment of $28.3 million in Ballard common shares, representing approximately 9.9% of Ballard’s outstanding common shares following the transaction. In each of the three assembly operation locations, Broad-Ocean plans to engage with local governments as well as with bus and commercial vehicle OEMs for deployment of fuel cell buses and commercial vehicles incorporating Ballard-designed modules manufactured by Broad-Ocean. Broad-Ocean will make payments to Ballard at closing and based on certain commissioning milestones, initial supply agreements, and recurring royalty payments. Ballard will also have the exclusive right to purchase fuel cell engines from any of the Broad-Ocean manufacturing operations for sale outside China. Each fuel cell engine assembled by Broad-Ocean will utilize FCvelocity-9SSL fuel cell stacks, initially manufactured by Ballard at its Vancouver HQ facility. Stack supply will be transferred to Guangdong Synergy Ballard Hydrogen Power Co., Ltd. (JVCo), the joint venture owned by Guangdong Nation Synergy Hydrogen Power Technology Co. Ltd. (Synergy) and Ballard in the City of Yunfu in China’s Guangdong Province, once JVCo becomes fully operational, expected in late-2017. From that time forward, Ballard will supply membrane electrode assemblies (MEAs) on an exclusive basis for stacks manufactured by JVCo. This transaction is subject to customary closing conditions and is expected to close by Q2 2017. Founded in 1994, Broad-Ocean is headquartered in the City of Zhongshan in Guangdong Province and is listed on the Shenzhen Stock Exchange. The Company is a leading global manufacturer of motors that power small and specialized electric machinery for electric vehicles (EVs), including buses, commercial vehicles and passenger vehicles, and for heating, ventilation and air conditioning (HVAC). Broad-Ocean produces more than 50 million motors annually for customers on 5 continents.
News Article | February 22, 2017
ZHENJIANG, China, Feb. 22, 2017 /PRNewswire/ -- Delta Technology Holdings Limited (NASDAQ: DELT), a manufacturer and seller of specialty chemicals, today announced that it is increasing both the number of core clients it serves and the amount of product sold to these companies. "We are confident that the products we produce for pharmaceutical and pesticide companies, and companies in other sectors including clean energy, food additives, aerospace and agrochemical, allow these major firms to achieve successes. We are very proud of the strategic cooperation these major companies have with Delta Technology," said Chao Xin, Chairman and CEO. Delta Technology services giant international chemical companies including Bayer, BASF Corporation, FMC Corporation as well as several public companies in China listed on the Shenzhen Stock Exchange for example: Jiangsu Flag Chemical Industry Co., Ltd.; Jiangsu Huifeng Agrochemical Co., Ltd., Huapont Life Sciences Co, Ltd. and Jiangsu Changqing Agrochemical Co., Ltd. Founded in 2007, Delta Technology Holdings Ltd. is a leading China-based fine and specialty chemical company producing and distributing organic compound including para-chlorotoluene ("PCT"), ortho-chlorotoluene ("OCT"), PCT/OCT downstream products, unsaturated polyester resin ("UPR"), maleic acid ("MA") and other by-product chemicals. The end application markets of the Company's products include Automotive, Pharmaceutical, Agrochemical, Dye & Pigments, Aerospace, Ceramics, Coating-Printing, Clean Energy and Food Additives. Delta has approximately 300 employees, 25% of whom are highly-qualified experts and technical personnel. The Company serves more than 380 clients in various industries. This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded or followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Forward-looking statements in this release also include statements about business and economic trends. Investors should also consider the areas of risk described under the heading "Forward Looking Statements" and those factors captioned as "Risk Factors" in DELT's periodic reports under the Securities Exchange Act of 1934, as amended, or in connection with any forward-looking statements that may be made by DELT. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/delta-technology-holdings-limited-continues-to-expand-revenues-from-core-client-base-300411535.html
News Article | February 27, 2017
BEIJING, Feb. 27, 2017 /PRNewswire/ -- VisionChina Media Inc. ("VisionChina Media" or the "Company") (Nasdaq: VISN), China's largest out-of-home digital television and advertising network on mass transportation systems and the leading provider of urban mass transit Wi-Fi, today announced that it has reached an agreement (the "Termination Agreement") with Ledman Optoelectronic Co., Ltd. ("Ledman") to terminate the equity transfer agreement (the "Equity Transfer Agreement") relating to 49% equity interest in VisionChina New Culture Media Co., Ltd. ("New Culture"), a company that operates mobile TV advertising business on subway. The termination was due to the parties' disagreement over the operating management philosophy for New Culture. Pursuant to the Equity Transfer Agreement, the Company previously received transaction proceeds of RMB61.0 million in cash and RMB321.2 million in the form of 17,085,100 shares of Ledman, valued at RMB18.8 per share and representing 4.88% of total outstanding shares of Ledman. Pursuant to the Termination Agreement, the Company will regain the 49% equity interest in New Culture from Ledman. In return, the Company will repay Ledman the RMB61.0 million cash consideration, with interest equivalent to that earned in a bank deposit for the same duration, in three installments, with the last installment to be made by August 31, 2017. In addition, the Company will repay RMB321.2 million in cash over the next three years by selling the 17,085,100 shares of Ledman, which have been pledged as collateral for the Company's obligations under the Termination Agreement. If the cash proceeds of selling shares exceed RMB321.2 million, the Company shall share 50% of the exceeding amount with Ledman. The Company is actively seeking potential purchasers of such equity interest. The Company is also exploring other ways to improve its liquidity position. For further details of the Termination Agreement, please refer to public announcements made by Ledman, which are available at www.szse.cn, the official website of the Shenzhen Stock Exchange. VisionChina Media Inc. (Nasdaq: VISN) operates an out-of-home advertising network on mass transportation systems, including buses and subways. As of September 30, 2016, VisionChina Media's advertising network included approximately 58,365 digital television displays on mass transportation systems in 14 of China's economically prosperous cities, including Beijing, Guangzhou and Shenzhen, as secured by exclusive agency agreements or joint venture contract. VisionChina Media has the ability to deliver real-time, location-specific broadcasting, including news, stock quotes, weather and traffic reports, and other entertainment programming. In addition, VisionChina Media, through its consolidated affiliate Qianhai Mobile, has secured exclusive concession rights for bus Wi-Fi services in 25 cities across China, including Shanghai, Shenzhen, Guangzhou and Tianjin, covering approximately 80,000 buses. Currently, Qianhai Mobile provides free Wi-Fi Internet services on over 35,000 buses under the brand name "VIFI," spanning over 15 million commuters and providing over 6 million Wi-Fi service sessions per day. For more information, please visit http://www.visionchina.cn. This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. Among other things, the quotations from management in this press release contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1 and its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. For investor and media inquiries, please contact: In the United States: Mr. Alan Wang The Piacente Group, Inc. Tel: +1 212-481-2050 E-mail: firstname.lastname@example.org To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/visionchina-media-terminates-transaction-selling-equity-interest-in-its-subway-mobile-tv-advertising-business-300413884.html
News Article | February 17, 2017
--(BUSINESS WIRE)--Invengo – the global RFID technology provider – is a leading developer and manufacturer of high quality, intelligent RAIN RFID (UHF), HF and NFC inlays, tags and connectivity solutions utilized in the Internet of Things (IoT). With a focus on RFID innovation, Invengo has created a leading product line in retail, library, (industrial) laundry, pharmaceutical, healthcare, (public) transportation and many other industries. With over 20 years of experience in RFID, Invengo is fully dedicated to enabling efficiency in applications such as ticketing, identity management, supply chain management, authentication, asset management and brand equity. Invengo Technology Pte. Ltd, located in Singapore (with subsidiaries in the US and Europe), is the international headquarters of Invengo Information Technology Co. Ltd, listed on the Shenzhen Stock Exchange (SZSE: 002161.SZ). Employing over 600 people worldwide, Invengo is one of the largest publicly traded, RFID-oriented companies in the world, with design and manufacturing plants located in the United States, Europe and China and sales offices spanning all major geographies.