SINGAPORE, Sept. 30, 2024 /PRNewswire/ — The Esteemed Chairman and Standing Director of CPC Corporation, Taiwan, Lee Shun-Chin, has been recognized as a Master Entrepreneur at the Asia Pacific Enterprise Awards (APEA) 2024. The awards ceremony took place at the Grand Hyatt Taipei on 13 September.  

The renowned Asia Pacific Enterprise Awards (APEA) honors exceptional entrepreneurs for their leadership while shining light on enterprises demonstrating corporate excellence. This year, in addition to honoring its chairman, the APEA also recognized CPC Corporation, Taiwan under the Inspirational Brand category for its outstanding achievements and ESG-centric approach.

CPC Corporation, Taiwan has established a strong presence throughout Taiwan and is involved in everything from importing petrochemical materials to supplying finished consumer goods. As it caters to various oil products, the company has implemented a few production and sales models as well as established many offices for effective oversight and governance.

CPC is shifting its focus from traditional energy to sustainable energy. The company aims to produce valuable fuel materials, reduce carbon emissions and fight climate change by introducing strategies that aim to produce valuable petrochemicals, reduce carbon emissions, and use renewable energy. Strategies implemented include improving its refining processes, adding value to chemicals, and carbon capture and reuse. The company also uses its expertise in carbon fiber composite materials to design special space-grade composite.

CPC aims to provide the people of Taiwan with a green, safe, and healthy social environment. It believes that sustainable growth needs balance in the economy, society, and environment. Hence, the company plans to focus on national development, improving its business practices, and promoting green energy to achieve low-carbon development. It aligns with ESG principles to promote “High-value Petrochemical, Low Carbon Emission, Lean-Renewable Energy” in order to realize sustainable development.

The company is dedicated to improving energy efficiency and promoting renewable energy to achieve net zero carbon emissions. With the goal of reducing carbon emissions by 40.6% and 49.5% by 2025 and 2030, 62 measures will be implemented to reduce carbon emissions by 262,000 metric tons, saving 74,000 metric tons of oil equivalent. CPC will also develop geothermal and hydrogen energy and build hydrogen refueling demonstration stations and hydrogen energy transmission and storage facilities to promote clean energy.

Through his “High-value Petrochemical, Low Carbon Emission, Lean-Renewable Energy” transformation strategies, Chairman Lee Shun-Chin’s transformation strategies for CPC Corporation, Taiwan has enabled the organization to build resilience in areas of governance excellence, environmental friendliness, and social prosperity. His admiral leadership skills and vision for the company make him truly deserving of the APEA’s Master Entrepreneur recognition.

PR Newswire is the Official News Release Distribution Partner of Asia Pacific Enterprise Awards 2024.

About Enterprise Asia

Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are an investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs, and other organizations to promote competitiveness and entrepreneurial development, uplift the economic status of people across Asia, and ensure a legacy of hope, innovation, and courage for future generations. Please visit www.enterpriseasia.org for more information.

About Asia Pacific Enterprise Awards

Launched in 2007, the Asia Pacific Enterprise Awards is the region’s most prestigious award for outstanding entrepreneurship, continuous innovation, and sustainable leadership. The Award provides a platform for companies and governments to recognize entrepreneurial excellence, hence spurring greater innovation, fair business practices, and growth in entrepreneurship. As a regional award, it groups together leading entrepreneurs as a powerful voice for entrepreneurship and serves as a by-invitation-only networking powerhouse. The program has grown to encompass 16 countries/ regions and markets all over Asia. For further information, please visit www.apea.asia.

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SOURCE Enterprise Asia

TORONTO, Sept. 29, 2024 /PRNewswire/ – Payfare Inc. (“Payfare” or the “Company”) (TSX: PAY) (OTCQX: PYFRF), a leading international Earned Wage Access (“EWA”) company powering instant access to earnings and digital banking solutions for workforces, today announced that its Board of Directors has initiated, with the assistance of outside legal and financial advisors, a comprehensive and thorough strategic review process to explore and evaluate a broad range of potential options for the Company to enhance value.

The foundation, funding, and execution of Payfare’s ongoing programs remain secure with a robust pipeline of potential new opportunities in the gig economy and EWA space. To support conversion of these new opportunities and alleviate concentration risk, the Board has decided to initiate a strategic review to accelerate these goals. During this process, Payfare remains focused on executing its current business strategy and will continue to provide industry-leading financial solutions for its clients and cardholders. This review process will assess strategic alternatives that may include, but are not limited to strategic partnerships, strategic investments, accretive acquisitions, a potential sale, merger or other business combination.

In conducting the strategic review, the Company’s Board and management team are committed to acting in the best interests of the Company, its shareholders and its stakeholders. There is no deadline or definitive timetable for the completion of the strategic review and Payfare does not intend to comment further unless the Board has approved a specific transaction or otherwise determined that disclosure is necessary or appropriate. There can be no assurances that the strategic review will result in any specific transaction or outcome.

Advisor

The Board has engaged Keefe, Bruyette & Woods Inc. (KBW) as financial advisor to assist with the strategic review process.

Support for DasherDirect Program and Cardholders Through Early 2025

Payfare is proud to have built DasherDirect, an award-winning digital banking solution providing cardholders with free instant pay, cashback rewards, and other meaningful benefits. Since inception, the program has successfully serviced millions of cardholders and processed billions of dollars of transactions. The level of adoption, user reviews, and app store ratings, including its consistent position as the top finance app as ranked by unitQ, demonstrates both the value proposition to cardholders and Payfare’s ability to deliver a best-in-class user experience. Payfare will continue its role as a good partner supporting the DasherDirect program and cardholders through early 2025.

Long-Term Client Renewals with Uber and Lyft Executed in 2024

On July 25, 2024, the Company announced the long-term renewal of its agreement with Lyft Inc. to power the Lyft Direct program. The renewal allows drivers on the Lyft platform to continue benefiting from free instant pay, a feature-rich digital banking product and cashback rewards for years to come. Subsequent to the extension, Payfare also announced new value-added product enhancements to Lyft Direct including Balance Protection, Lyft Direct Savings, and more. Active Lyft Direct users have increased by more than fifty percent year to date, demonstrating the ongoing success of the program.

On March 5, 2024, the Company announced the launch of the Uber Pro Card, a new program with Uber providing free instant payouts after every trip or delivery, enhanced loyalty features for drivers and delivery people, and backup balance for qualifying users on the Uber platform in Canada, powered by Payfare’s leading digital banking app. Active users of the Uber Pro Card have increased by more than five times compared to the legacy program.

Well-Funded to Support Future Growth

Payfare has over $100 million in cash, cash equivalents, and guaranteed investment certificates and is well capitalized to fund ongoing operations and new strategic initiatives. Although the loss of the DasherDirect program will have a substantial impact on the Company’s revenue profile, Payfare intends to right size its operating expenses to align with the near to mid-term reduction in revenues while providing the flexibility to execute on new business and initiatives to build long-term value.

About Payfare (TSX:PAY, OTCQX: PYFRF)

Payfare is a leading, international Earned Wage Access (“EWA”) company powering instant access to earnings through an award-winning digital banking platform for today’s workforce. Payfare partners with leading e-commerce marketplaces, payroll platforms, and employers to provide financial security and inclusion for all workers.

Cautionary Statement Regarding Forward Looking Information

Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of applicable securities legislation that involve risks and uncertainties relating, but not limited, to Payfare’s current expectations, intentions, plans, and beliefs. Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “target”, “intend”, “estimate”, “could”, “should”, “may” and “will” or the negative of these terms or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Examples of forward-looking information in this news release include, without limitation the strategic review process and timing and length of such process, exploring potential options including strategic partnerships, strategic investments, accretive acquisitions, a potential sale, merger or other business combination, execution of Payfare’s current business strategy and continued provision of industry-leading financial solutions for its clients and cardholders, support for the DasherDirect program and cardholders through early 2025, the impact of the loss of the DasherDirect program to the Company’s revenue profile, intentions to right size operating expenses and impacts to Payfare’s liquidity position, and executing on new opportunities and initiatives. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.

Security holders, potential security holders and other prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Such risks include the factors discussed from time to time in Payfare’s filings with the Canadian Securities Authorities, copies of which can be found under Payfare’s profile on the SEDAR+ website at www.sedarplus.ca. In addition, there is risk that opportunities identified through the strategic review may take longer than anticipated or may not be a fit or appropriate for the Company or will not be at terms that are acceptable to the Company, and right sizing efforts may not have the intended impacts as expected by management on its liquidity.

Security holders, potential security holders and other prospective investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Payfare undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

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SOURCE Payfare Inc.

SHENZHEN, China, Sept. 30, 2024 /PRNewswire/ — vivo today announced the launch of Funtouch OS 15 for users in international markets, ushering in a new era of smooth and an enhanced mobile experience. Building upon user feedback and requests, the latest Funtouch OS 15 is vivo’s take on the new Android 15 version, delivering unparalleled smoothness, a suite of new personalization options, and optimized features focused on photography, gaming, and productivity. Funtouch OS 15 seamlessly connects vivo users to the digital world, enhancing efficiency in everyday life.

Go Beyond Smooth: Experience Unparalleled Fluidity

Funtouch OS 15 improves the overall fluidity of the Android system and animated elements that bring the device to life. By replacing Android’s existing Fair Scheduling algorithm with vivo’s proprietary Priority Scheduling model, Funtouch OS 15 prioritizes computing power for foreground processes. This results in a 15% increase in average app startup speed, even under overload scenarios.

To further enhance performance, the new Memory Enhancement Technology employs an optimized zRAM memory compression algorithm, resulting in a remarkable 40% increase in compression speed. Additionally, it reduces GPU memory consumption for background applications, enabling users to run multiple apps simultaneously without compromising the device’s smoothness.

Funtouch OS 15 also introduces vivo’s exclusive Origin Animation, an innovative approach that enhances animation smoothness and interaction responsiveness. The Lightning-Speed Engine creates a dedicated channel for animation execution and improves app startup response speed by 20%. Inspired by nature, the Aqua Dynamic Effect enhances system interactions with animated effects that evoke the movement of water, making each interaction feel smoother and more natural. Last but not least, 700+ touch scenarios have been optimized based on extensive ergonomics research, ensuring a consistently Smooth Touch experience all around.

Naturally You: Craft Your Own Digital Space

Funtouch OS 15 empowers users to express their individuality. With 3,800+ redesigned design elements, including updated system colors, fonts, icons, and illustrations, Funtouch OS 15 offers a clean and minimalistic aesthetic. Users can further personalize their devices with a wide array of options, including nine general system themes and a variety of Static, Immersive, and Video Wallpapers. Four new fingerprint recognition animations, customizable app icon styles, and adjustable icon shapes and sizes provide even greater control over the user interface.

Be Pro, So Easy: Efficiency at Your Fingertips

Recognizing the integral role smartphones play in everyday life, Funtouch OS 15 enhances creativity, elevates entertainment, and boosts efficiency. The AI Image Lab allows users to automatically enhance photo quality and remove shadows from documents using AI-powered tools. For avid mobile gamers, the upgraded Ultra Game Mode introduces a convenient sidebar with a performance panel, game tools, and the Game Small Window feature. This allows for quick access to social apps and easy setting adjustments, such as the screen refresh rate and touch sampling rate, without interrupting gameplay.

In terms of productivity, Funtouch OS 15’s optimized Link to Windows feature enhances cross-device collaboration between vivo devices and PCs, allowing users to sync content in real-time, manage file sharing efficiently, view recent photos across devices, and more. Additionally, the overhauled S-Capture feature now allows for annotations during screen recording, supports multiple audio tracks, and includes a control panel for microphone volume and system sound recordings.

Availability

Funtouch OS 15 will be available for upgrade starting from mid-October on vivo X Fold3 Pro, X100 Series and iQOO 12. 

About vivo

vivo is a technology company that creates great products based on a design-driven value, with smart devices and intelligent services as its core. The company aims to build a bridge between humans and the digital world. Through unique creativity, vivo provides users with an increasingly convenient mobile and digital life.

While bringing together and developing the best local talents to deliver excellence, vivo is supported by a network of R&D centers in Shenzhen, Dongguan, Nanjing, Beijing, Hangzhou, Shanghai, Xi’an and more cities, including 5G, artificial intelligence, industrial design, photography and other up-and-coming technologies. vivo has also set up an intelligent manufacturing network (including those authorized by vivo), with an annual production capacity of nearly 200 million smartphones. As of now, vivo has branched out its sales network across more than 60 countries and regions, and is loved by more than 500 million users worldwide.

Following the company’s core values, which include Benfen*, user-orientation, design-driven value, continuous learning and team spirit, vivo has implemented a sustainable development strategy with the vision of developing into a healthier, more sustainable world-class corporation.

*”Benfen” is a term describing the attitude on doing the right things and doing things right – which is the ideal description of vivo’s mission to create value for society.

SOURCE vivo