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Fosun’s Fintech Business Enters Harvest Period, Finloop Projects Asset Management Scale to Surge 10-Fold in a Year

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HONG KONG, June 12, 2024 /PRNewswire/ — Finloop Finance Technology Holding Limited (“Finloop”), a leading digital intelligent wealth management platform independently incubated by Fosun Wealth International Holdings Limited (“Fosun Wealth”), a subsidiary of Fosun International (00656.HK), announced today that it has entered into strategic cooperation agreements with multiple leading fintech companies, including China Asset Management (Hong Kong),  Taikang Asset Management (Hong Kong), Ping An of China Asset Management (Hong Kong), Bosera Asset Management (International), E Fund Management (Hong Kong), Zhong Ou Asset Management International, Hundsun Ayers Technologies, Hithink RoyalFlush Information Network, etc. According to the agreements, the signing parties will jointly integrate their professional expertise and resources in fintech to drive the digital transformation of wealth management at financial institution, meeting  the personalized and diversified needs of clients undergoing digital transformation, providing a full range of financial products and one-stop solutions, and injecting new vitality into the Hong Kong financial market.

Finloop boasts industry-leading research and development capabilities as well as solution implementation capabilities. It is currently the sole fintech service provider in the Hong Kong financial market that offers a one-stop wealth management platform and solutions. Its independently developed technology platform allows it to provide financial institution clients with a full range of wealth management products covering cash management, public funds, privately offered funds, structured products, bonds, and insurance. It can also provide personalized asset management and investment services tailored to client needs. Currently, its client base includes commercial banks, securities firms, cross-border e-commerce platforms, family offices, wealth management firms, insurance brokers, and fund management companies. Finloop’s assets under management are expected to exceed HK$10.0 billion this year, representing a tenfold growth. The company aims to reach a scale of hundreds of billions in assets under management over the next three years, endeavoring to become one of the most influential ToB wealth management platforms in Asia.

Technology innovation is one of the important drivers for Fosun’s development. Fosun’s financial report shows that its investment in technology innovation reached RMB7.4 billion in 2023, representing a year-on-year increase of 14% on a comparable basis. In recent years, Fosun’s long-term investment in technology innovation has entered a harvest period, with various businesses, including financial services, yielding successful results.

On 5 June, Fosun Wealth’s subsidiary, Fosun International Securities Limited (“Fosun International Securities”), announced that it has obtained the virtual asset dealing service license from the Securities and Futures Commission of Hong Kong (“SFC”). In recent years, the virtual asset trading market has seen tremendous growth potential, and has become a highly contested battleground for major financial service providers. Fosun International Securities’ obtainment of the virtual asset dealing service license from the SFC is an important recognition of the company’s solid professional financial capabilities and stable and reliable trading platform. This license has enabled Fosun to extend its financial management and investment services in Hong Kong to include virtual asset trading and virtual asset product distribution services. It has also broadened Fosun’s trading products and services to encompass virtual asset derivatives, such as exchange-traded funds (ETFs) and virtual asset ETFs.

Fosun’s global business presence and robust operational resources have enabled synergies and resource integration between its various business segments, which can drive “multiplier” growth. Fosun International Securities’ obtainment of the virtual asset dealing license and Finloop’s innovative breakthroughs in the Hong Kong market have demonstrated Fosun’s leading edge in wealth management.

The wealth management business offers financial institutions the advantages of light assets, high profitability, and low volatility. It serves as an important stabilizing and smoothing force that helps to steady the business operations of financial institutions, holding tremendous value. Recently, the Hong Kong financial market has returned to an upward trajectory, and the expected interest rate cuts in the second half of the year are anticipated to further boost the investment climate. The market expects a significant increase in institutional investors’ asset management needs, marking a crucial turning point. Looking ahead, Fosun’s fintech business is poised to fully enter a harvest period and is expected to become an important highlight of Fosun’s performance.

View original content:https://www.prnewswire.com/apac/news-releases/fosuns-fintech-business-enters-harvest-period-finloop-projects-asset-management-scale-to-surge-10-fold-in-a-year-302170662.html

SOURCE Fosun

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Gentoo Media – Mandatory notification of trade

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33 minutes ago

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November 14, 2024

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ST JULIANS, Malta, Nov. 14, 2024 /PRNewswire/ — MJ Foundation Fundacja Rodzinna, a company related to Mateusz Juroszek, Board Member and primary insider of Gentoo Media Inc. (Gentoo) has today acquired 115,604 shares in Gentoo at a price of SEK 24,996 per share. After this transaction, close associates of Mateusz Juroszek hold 24,027,766 shares in Gentoo.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

For further information, contact:
Tore Formo, Group CFO, tore.formo@g2m.com, +47 91668678

About Gentoo Media

Gentoo Media is a market-leading affiliate connecting operators and players in the online gambling and sports betting industry. Gentoo Media offers an array of iGaming affiliate solutions, such as paid marketing expertise and quality traffic through our prominent industry sites including AskGamblers, Time2Play, CasinoTopsOnline, WSN and Casinomeister. In 2024, Gentoo Media (formerly GiG Media) became Gentoo Media Inc. following a legal split separating the Media and Platform and Sportsbook business in Gaming Innovation Group (GiG) into two independently listed companies. Gentoo Media Inc. is dual listed on the Oslo Stock Exchange (ticker “G2MNO”) and Nasdaq Stockholm (ticker “G2M”). www.gentoomedia.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/gentoo-media-inc/r/gentoo-media—mandatory-notification-of-trade,c4066199

View original content:https://www.prnewswire.co.uk/news-releases/gentoo-media—mandatory-notification-of-trade-302305030.html

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Xinhua Silk Road: World IoT expo 2024 opens in E. China’s Wuxi to showcase future of smart connectivity

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33 minutes ago

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November 14, 2024

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BEIJING, Nov. 14, 2024 /PRNewswire/ — The World Internet of Things (IoT) Exposition 2024 kicked off on Monday in Wuxi City of east China’s Jiangsu Province, attracting industry leaders, representatives of enterprises and experts from across the globe to discuss industry trends and demonstrate innovative applications.

At the expo’s opening ceremony, Wuxi unveiled a national pilot project in intelligent connected vehicles, which aims to create a cohesive mode for car owners, vehicles and cities connection, contributing Wuxi’s expertise to smart vehicle initiatives.

Additionally, a new smart sensing chip engineering center was launched, representing an investment of over 1 billion yuan and focusing on high-density large-scale substrates and other advanced chip technologies to strengthen the city’s integrated circuit development.

The event also saw the release of several major IoT research achievements, including the 2024 IoT innovation development Taihu index and the 2024 white paper on advanced sensing technology and applications.

The three-day event features exhibitions, panel discussions, and thematic sessions that showcase the latest development in IoT innovations and applications. This year’s expo is poised to drive Wuxi’s high-quality growth in IoT while promoting global tech collaboration and knowledge sharing in the IoT field.

Wuxi has become a navigator of the IoT industry in China. The latest statistics show that in 2023, the scale of the IoT industrial cluster in Wuxi surpassed 450 billion yuan, taking the lead in Jiangsu Province.

Original link: https://en.imsilkroad.com/p/343117.html

SOURCE Xinhua Silk Road

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Agoda Highlights Five Urban Hikes for Adventurous Travelers

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November 14, 2024

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SINGAPORE, Nov. 14, 2024 /PRNewswire/ — Digital travel platform Agoda introduces five urban hikes across Asia, offering travelers a chance to experience the perfect blend of city life and nature. These hikes, ranging from family-friendly to more challenging trails, provide an unmatched perspective on some of Asia’s most dynamic cities.

Whether it’s Elephant Hill in Taipei, with its stunning views of the Taipei 101, or Hong Kong’s famous Dragon Back, active travelers are in for a treat when embarking on these city hike adventures.

Andrew Smith, Senior Vice President, Supply at Agoda said: “Asia is special to have so many incredible hike routes right in the heart of these popular cities. The five highlighted hikes are just a sample of the many breathtaking city trails the continent has to offer. Adventurous travelers will want to try them all and thankfully Agoda helps make travel affordable with great value deals on over 4.5 million properties globally.”

These are the five city hikes, ranked from easiest to most challenging:

Kuala Lumpur’s Bukit Nanas Forest Reserve offers a unique experience of trekking through a tropical rainforest right in the city center. The trail is relatively easy, with well-marked paths and informative signboards about the local flora and fauna, making it a great choice for families and nature enthusiasts.

Elephant Hill in Taipei offers a short but rewarding climb. The trail is well-maintained and provides stunning views of Taipei’s skyline, including the famous Taipei 101. It’s an ideal spot for those looking to enjoy a quick escape into nature without straying far from the city.

In Singapore, the Southern Ridges trail offers a moderate hike through a series of interconnected parks and gardens. Spanning 10 kilometers, this trail provides a lush green corridor amidst the urban environment, with highlights including the Henderson Waves bridge and panoramic views of the city.

Namsan in Seoul presents a slightly more challenging hike, leading to the N Seoul Tower. The trail is popular among locals and tourists alike, offering a mix of natural beauty and cultural landmarks, with several routes to choose from depending on the desired difficulty level.

Finally, Hong Kong’s Dragon’s Back is a favorite for its breathtaking views of the coastline and the South China Sea. This moderately challenging hike is known for its undulating ridges and scenic vistas, providing a rewarding experience for those willing to tackle its ups and downs.

In each of these city hike destinations, Agoda offers great value accommodation. In addition to holiday properties, Agoda’s 130,000 flight routes and 300,000 activities ensure the platform is the one-stop travel solution to help booking an entire trip. The latest Agoda deals can be found in the Agoda app or on agoda.com/deals.

— ENDS —

 

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SOURCE Agoda

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