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BrewBilt Closes $550k in New Orders Just This Week with Oakland Based Brewery Along with $1.2M in Quotes to Restaurants

SACRAMENTO, CA, Nov 23, 2020 - (ACN Newswire) - Today BrewBilt Manufacturing Inc. (the "Company") (OTCPINK: BBRW), announced that the company received $550,000 in new orders this week, while it filed its Form-10Q ending September 30, 2020 with approximately $1M in sales, up from $500,000 in 2019 for the same period; with more than $700,000 net profit up from $100,000 in 2019. The company is showing gains of 5X, while reducing liabilities in the amount of $100,000 compared to 2019.Jef Lewis, CEO, stated, "With the projected $20M in brewery revenue for 2021, BrewBilt received several orders this week, including SGIC's order of $45,000 for the new consumer 2BBL home brewery which will debut in 2021 in our advertising campaign, and a commercial order from Ghost Town Brewer in Oakland, California for $500,000, inclusive of our new fully automated brewery consisting of 30 BBL. Ghost Town will also receive our newest accessory Mobile Flow Meter which allows the user to monitor the volume of liquid being transferred from vessel to vessel. The new flow meter is a first in the industry and will sell for $7,500."The company launched a new advertising campaign this quarter with multiple major trade media, inclusive of Food & Beverage and Pizza Today print and digital media. The first ads were released in October and as a result the company received $1.2M in quotes from restaurants that want to brew beer to increase their net profits and offer their own brand. "Quotes turn into real purchase orders which result in more revenue. This is part of a multifaceted strategy to build revenues in the USA, Europe and Asia. Currently with $3M in orders, and $15M in quotes from customers waiting for COVID to pass, realizes our projected 2021 revenue of $20M." Stated Jef Lewis, CEO.Watch Video Success Stories:https://www.brewbilt.com/success-storieshttps://www.youtube.com/watch?reload=9&v=eAtMrDj7PYA&feature=youtu.beABOUT BREWBILT: (www.brewbilt.com)Located in the Sierra Foothills of Northern California, BrewBilt is one of the only California companies that custom designs, hand crafts, and integrates processing, fermentation and distillation processing systems for the craft beer, cannabis and hemp industries using "Best in Class" American made components integrated with stainless steel processing vessels using only American made steel. Founded in 2014, the company began in a backyard shop by Jef Lewis with a vision of creating a profitable company in "Rural America". BrewBilt has built a solid foundation by having strong relationships with local suppliers of raw materials, equipment and services in California, an aggressive referral network of satisfied customers nationwide, and an Advisory Board consisting of successful business leaders that provide valuable product feedback and business expertise to management. The craft brewing & spirits industries continue to grow worldwide. California is where craft brewing began and now has over 900 operating breweries - being centrally located in this booming market was a large draw for BrewBilt to locate its manufacturing facility in the Sierra foothills. All BrewBilt products are designed and fabricated as "food grade" quality which enables the company to build vessels for food & beverage processing. More important, the company has been building systems that are pharmaceutical grade for clients involved in distillation for the cannabis and hemp industries over the past 36 months, thus making the revenue potential much greater.FORWARD-LOOKING STATEMENTSThis document contains forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. The forward-looking statements are based on management's expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Corporation's ability to effectively execute its business plans; changes in general economic and financial market conditions; changes in interest rates; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcy, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Corporation's business; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. Management may elect to update forward-looking statements at some future point; however, it specifically disclaims any obligation to do so.Contact:Jef Lewis, Chairman and CEOBrewBilt Manufacturing Inc. - BBRWCall or Text: 530-802-5023Info@BrewBilt.com Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com

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Zhonghua Gas Holdings Limited Announces Completion of the Subscription Agreement of Issuance of Convertible Bonds Amounting to HK$97,800,000

HONG KONG, Nov 18, 2020 - (ACN Newswire) - Zhonghua Gas Holdings Limited (the "Company"; Stock Code: 8246) together with its subsidiaries (collective namely the "Group") today announces that the completion of the Subscription Agreement of the issuance of the three-year convertible bonds in the aggregate principal amount of HK$97,800,000. The bond Subscriber is the wholly-owned subsidiary of Kai Yuan Holdings Limited (Stock Code: 1215). The net proceeds are intended to be used for the enhancement of the existing business of the Group and working capital.The Board of Directors considers this move presents an opportunity for the Group to strengthen its financial position while optimizing its investor and capital base. It will also set a good foundation for further strategic alliance with the Subscriber. Therefore, the Group is optimistic towards the prospects of the Group.Kai Yuan Holdings Limited, a company listed on the Main Board of the Hong Kong Stock Exchange, is principally engaged in investment holding. One of its substantial shareholders is renowned Chinese entrepreneur Mr. Du Shuang Hua, who was ranked 65th in the Hurun Rich List of 2019. He has extensive businesses covering industries in steel manufacturing, logistics, banking and properties development in the PRC. The subsidiary companies of Kai Yuan are principally engaged in hotel operation and money lending business.The convertible bonds represent approximately 10.00% of the existing issued share capital of the Company as at the date of completion and approximately 9.09% of the issued share capital of the Company as enlarged by the issue of the Conversion Shares. The Company has a total of 3,622,136,000 Shares in issue. The initial Conversion Price of HK$0.27 (subject to adjustments) per Conversion Share.Zhonghua Gas Holdings LimitedZhonghua Gas Holdings Limited is principally engaged in provision of diverse integrated new energy services including technological development, construction and consultancy services in relation to heat supply and coal-to-natural gas conversion, supply of liquefied natural gas, coupled with trading of new energy related industrial products. The Group is also engaged in the property investment business.Media Contacts:Angel YeungJovian Communications LtdTel: +852 2581 0168Email: news@joviancomm.com Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com

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Rykadan Proposes Buyback at HK$.68 per share; to Hold EGM 23 November

HONG KONG, Nov 12, 2020 - (ACN Newswire) - Rykadan Capital Limited (stock code: 2288) will be holding Extraordinary General Meeting ("EGM") on 23 November 2020 (Monday) at Room 1, 10/F, United Centre, 95 Queensway, Admiralty, Hong Kong at 1:00 p.m. for approving the Proposed Share Buy-back announced earlier in September. According to the Proposed Share Buy-back, Rykadan Capital, through Dongxing Securities (Hong Kong) Company Limited, will make a conditional cash offer to the shareholders of the Company to buy back up to 102,000,000 shares of the Company at a premium offer price of HK$0.68 per share.Premium valuation: The Proposed Share Buy-back provides an opportunity for the shareholders to sell their shares at a premium to the prevailing market prices of the shares of the Company and receive cash proceeds in return. In particular, the closing price of the Shares has not exceeded the offer price for almost twelve months after 27 September 2019. Certain and immediate value: The shares had been trading on the Hong Kong Stock Exchange at an average daily trading volume of approximately 71,397 Shares for the six months up to and including the last trading day (i.e. 15 September 2020), representing less than 0.02% of the total issued shares as at the last trading day. Hence, the Proposed Share Buy-back presents an immediate opportunity for the Company's shareholders to dispose of their Shares, not constrained by trading liquidity, and exit their investment for cash proceeds.Monetise at a lower discount to the Company's NAV: In addition, Innovax Capital Limited, being the independent financial adviser (IFA) of the exercise, mentioned that the shares have consistently been traded at a substantial discount to the net asset value (NAV) per share attributable to equity shareholders of the Company, and the IFA considers that the Proposed Share Buy-back provides an opportunity for the shareholders to monetise their shareholdings at a lower discount to the Company's NAV per share attributable to equity shareholders of the Company. In all, as an intrinsic merit of the exercise, the Proposed Share Buy-back confers the shareholders the flexibility and equal opportunity to participate in the Offer on the same terms at their own absolute discretion. The Proposed Share Buy-back required independent shareholders' approval at the EGM on 23 November 2020 (Monday). Qualified shareholders of Rykadan Capital should seize this opportunity to cast their votes by actively participating in the EGM in order to express their views. For CCASS participants, they're encouraged to express their votes intension to Share Registrar (i.e. Tricor) through their respective brokers on or before 4:30pm on November 17 (Tuesday). Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com

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Rykadan Capital’s Proposed Share Buy-back at a Premium Offer Price of HK$0.68 per Share Seeking Approval from Independent Shareholders at the Extraordinary General Meeting on 23 November 2020

HONG KONG, Nov 11, 2020 - (ACN Newswire) - Rykadan Capital Limited (stock code: 2288) will be holding Extraordinary General Meeting ("EGM") on 23 November 2020 (Monday) at Room 1, 10/F, United Centre, 95 Queensway, Admiralty, Hong Kong at 1:00 p.m. for approving the Proposed Share Buy-back announced earlier in September. According to the Proposed Share Buy-back, Rykadan Capital, through Dongxing Securities (Hong Kong) Company Limited, will make a conditional cash offer to the shareholders of the Company to buy back up to 102,000,000 shares of the Company at a premium offer price of HK$0.68 per share.Premium valuation: The Proposed Share Buy-back provides an opportunity for the shareholders to sell their shares at a premium to the prevailing market prices of the shares of the Company and receive cash proceeds in return. In particular, the closing price of the Shares has not exceeded the offer price for almost twelve months after 27 September 2019. Certain and immediate value: The shares had been trading on the Hong Kong Stock Exchange at an average daily trading volume of approximately 71,397 Shares for the six months up to and including the last trading day (i.e. 15 September 2020), representing less than 0.02% of the total issued shares as at the last trading day. Hence, the Proposed Share Buy-back presents an immediate opportunity for the Company's shareholders to dispose of their Shares, not constrained by trading liquidity, and exit their investment for cash proceeds.Monetise at a lower discount to the Company's NAV: In addition, Innovax Capital Limited, being the independent financial adviser (IFA) of the exercise, mentioned that the shares have consistently been traded at a substantial discount to the net asset value (NAV) per share attributable to equity shareholders of the Company, and the IFA considers that the Proposed Share Buy-back provides an opportunity for the shareholders to monetise their shareholdings at a lower discount to the Company's NAV per share attributable to equity shareholders of the Company. In all, as an intrinsic merit of the exercise, the Proposed Share Buy-back confers the shareholders the flexibility and equal opportunity to participate in the Offer on the same terms at their own absolute discretion. The Proposed Share Buy-back required independent shareholders' approval at the EGM on 23 November 2020 (Monday). Qualified shareholders of Rykadan Capital should seize this opportunity to cast their votes by actively participating in the EGM in order to express their views. For CCASS participants, they're encouraged to express their votes intension to Share Registrar (i.e. Tricor) through their respective brokers on or before 4:30pm on November 17 (Tuesday). Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com

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Yincheng Life Service (1922.HK) Celebrates the 1st Anniversary of its Listing

HONG KONG, Nov 6, 2020 - (ACN Newswire) - The leading enterprise in the property management industry in Nanjing and Jiangsu Province, the PRC, Yincheng Life Service CO., Ltd. ("Yincheng Life Service" or "the Company", together with its subsidiaries, "the Group"; Stock code: 1922) is pleased to celebrate the 1st anniversary of its listing on the main board of HKEx.With the effective expansion of business scale and continuous deep cultivation in the industry, the Company is providing more diversified and value-added services Yincheng Life Service's listing on the Hong Kong Stock Exchange on November 6, 2019 ushered in a golden period of development as the Company seizes good opportunities, implements a multi-pronged strategies, achieves record highs in various operating indicators, and attaining remarkable development in operational scale. From 2016 to 2019, the CAGR of the Company's contracted GFA and GFA under management were 45.6% and 58.0%, respectively, reaching 37.3 million sq.m. and 33.7 million sq.m. as of June 30, 2020. The CAGR of revenue and core net profit from 2016 to 2019 were 44.9% and 25.4%, respectively.Yincheng Life Service consistently promotes regional deep cultivation and deeply engages in developed cities in the Yangtze River Delta Megalopolis with Nanjing as the regional focus. Within a year of its listing, the Company's business coverage has expanded from the original 10 cities to the current four provinces and 16 cities, serving nearly 190,000 households covering over one million customers. The number of properties under management has increased significantly from 63 in 2016 to 307 as of June 30, 2020.In addition to providing high-quality property management services to residential customers, the Company is also committed to promoting diversified property management services and increasing the development of non-residential projects. In March 2020, the Company completed its first strategic merger and acquisition after listing. It acquired 51% of Nanjing Huiren Hengan for RMB45.9 million to tap into the hospital property management field and improve its comprehensive strength.Standing out from the industry with unique characteristic Yincheng Life Service adheres to the business philosophy of "Exceeding customer expectations with valuable services", and insists on "Strict service quality control, complete complaint mechanism, and continuous customer experience enhancement". The Company allocates one life consultant for every 300 households, the proportion is far exceeding industry standards. Currently, the Company has 450 life consultants in total to respond to customer needs in a timely manner; the Company adheres to at least two customer satisfaction surveys per year to maintain industry benchmarks level. After listing, the Company was even stricter in self-discipline, and continue to maintain high-quality services and reputation with refined management system.As a pioneer of marketization in the industry, Yincheng Life Service actively obtains the appointment from third-party real estate developers and property owners' association while the parent group provides stable business growth. The Company's GFA under management from third party property developers has continued to increase from 54% in 2016 to the current 82%. As a second-hand property management expert, relying on the Company's solid and high-quality services and market reputation, the Company has been appointed to replace existing property management service providers for completed projects, and through effective operations, these projects are attaining sustainable profitability. As one of the few companies in the industry who owns self-established professional companies, Yincheng Life Service has 4 subsidiary companies with qualified licenses, covering installation, repair and maintenance of elevators and escalators and courtyard greening, etc., which enables the Company to save costs and improve efficiency for customers and let the Company to stand out in the process of acquiring new projects. The high-quality services also enable the Company to be appointed by other property companies, expanding the revenue streams.Affirmed by the market in the first year since its listingSince its listing, the investment value of Yincheng Life Service is continuously being recognized by the industry and the capital market. In 2020, Yincheng Life Service was ranked among the "Top 100 Property Services Companies in China", and its ranking jumped from 34th in 2019 to 24th. In the first year of listing, the Company's highest stock price has risen four times the issue price and has received a "buy" or "strong recommendation" rating by a number of investment institutions. The Company actively communicates with investors and shareholders through various channels in a timely manner to demonstrate transparent and efficient corporate governance. In order to return shareholders' long-term support, the Company has made a 30% dividend payout ratio after the first annual resulted was announced. Focusing on Community and Employee DevelopmentAs a socially responsible company, Yincheng Life Service made full use of its understanding of property owner' needs, organized various community activities throughout the year. During the CONVID-19 breakout, the Company stood on the front line and quickly launched a number of new services for property owner' convenience. Yincheng Life Service attaches great importance to talent cultivation, continuously improves the talent system. After the listing, the Company also fulfilled its commitment to provide share incentives to employees. Today, on this special day of the first anniversary of listing, the Company organizes a series of meaningful activities such as charity hiking and group running to show employees its appreciation for their hard work during the year and to make some contribution to the society.XIE Chenguang, Chairman of Yincheng Life Service CO., Ltd, said "2020, is our first year of listing on the Hong Kong Exchange, it will also be a year remembered by the world. Faced with various challenges of public health, domestic economy, and international environment, Yincheng Life Service responded quickly with the united power of our employees and customers. We proactively stepped out of the comfort zone, steadily fought against all the difficulties with the expectation and support of the public, and finally achieved success in all areas. Our aim is to become a century-old company, we are proud to have just completed the first step in the coming-of-age ceremony. The way ahead is fill with challenges, but also full of hope and opportunities. Looking forward to the future, we will continue to adhere to our initiatives and maintain consistent growth as we pursue our goal of becoming a leading regional property management company." Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com

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SDK to Split Its Optical Semiconductor Business

TOKYO, Oct 27, 2020 - (JCN Newswire) - Showa Denko (SDK; TSE:4004) decided at its Board of Directors' meeting today to split its business in optical semiconductors and rare earth alloys through an absorption-type company split effective January 1, 2021 (hereinafter "the Company Split"). Showa Denko Photonics Co., Ltd., a wholly-owned subsidiary of SDK, will succeed to the business.As the Company Split is to be implemented through a simplified absorption-type company split between SDK and its wholly-owned subsidiary, part of details is omitted in this disclosure.1. Objective of the Company SplitIn its medium-term business plan "The TOP 2021," SDK aims to establish itself as a "KOSEIHA Company," which means a group of KOSEIHA businesses that can maintain their profitability and stability at high levels over a long period. The optical semiconductor business is classified as one of the "Grow" businesses under the plan. SDK aims to expand the business in this growth market by providing products and technologies meeting customer needs, thereby developing it into one of its KOSEIHA businesses.To achieve this goal, SDK will make the business an operating company, increasing the speed of decision-making and sharing of the latest market information. By focusing on thegrowing business in infrared light-receiving/emitting devices, we will meet customers' requirements, taking advantage of our industry-leading product quality and customizing capability.We will transfer the business to a newly-established subsidiary Showa Denko Photonics through an absorption-type company split.2. Outline of the company split(1) SchedulesApproval of the contract by SDK's Board of Directors' meeting: October 27, 2020Conclusion of the contract: November 6, 2020Approval of the contract by Showa Denko Photonics's shareholders' meeting: October 27, 2020Effective date: January 1, 2021 (planned)Note: The Company Split will be a simplified company split under Article 784, paragraph 2, of the Companies Act. Thus, there will be no procedure for approval by SDK's shareholders' meeting.(2) Method of company splitThis will be an absorption-type company split, with SDK serving as the splitting company and Showa Denko Photonics as the succeeding company.(3) Allotment pertaining to company splitAt the time of the Company Split, Showa Denko Photonics will deliver its 100 common shares to SDK. (4) Handling of warrant and bond with warrant pertaining to company splitNot available(5) Increase/decrease in capital stock due to company splitThere will be no change in SDK's capital stock due to the Company Split.(6) Rights and obligations to be transferredAs the succeeding company, Showa Denko Photonics will assume SDK's rights and obligations regarding the business in optical semiconductors and rare earth alloys on the effective date.(7) Prospect of fulfillment of obligationsSDK considers that there will be no problem about the prospect of fulfillment of obligations by Showa Denko Photonics after the Company Split.3. Outline of the parties to company split (as of October 27, 2020)Splitting company(1) Name: Showa Denko K.K.(2) Location: 13-9, Shiba Daimon 1-chome, Minato-ku, Tokyo(3) Representative: Kohei Morikawa, President(4) Scope of business: Production and sale of petrochemicals, gas products, specialty chemicals, electronics, inorganics, aluminum, etc.(5) Capital stock: 140,564 million yen(6) Date of incorporation: June 1, 1939(7) Number of shares issued: 1,497,112,926(8) Accounting term: December 31(9) Major shareholders and rate of shareholding: The Master Trust Bank of Japan Ltd. (Trust Account) 7.24%KOREA SECURITIES DEPOSITORY-SAMSUNG 4.80%Japan Trustee Services Bank, Ltd. (Trust Account) 3.51%Fukoku Mutual Life Insurance Company 3.09%Japan Trustee Services Bank, Ltd. (Trust Account 7) 2.21%(10) Net assets: 519,433 million yen(11) Total assets: 1,076,381 million yen(12) Net assets per share: 3,423.25 yen(13) Net sales: 906,454 million yen(14) Operating income: 120,798 million yen(15) Ordinary income: 119,293 million yen(16) Net income attributable to owners of the parent: 73,088 million yen(17) Net income per share: 501.03 yenSucceeding company(1) Name: Showa Denko Photonics Co., Ltd.(2) Location: 1505 Shimokagemori, Chichibu, Saitama Prefecture (3) Representative: Masahiko Usuda, President (4) Scope of business: Production and sale of visible-light & infrared LEDs, light-receiving epitaxial wafers, and rare earth alloys(5) Capital stock: 1 yen(6) Date of incorporation: October 9, 2020(7) Number of shares issued: 100(8) Accounting term: December 31(9) Major shareholders and rate of shareholding: -(10) Net assets: 1 yen(11) Total assets: 1 yen(12) Net assets per share: 0.01 yen(13) Net sales: -(14) Operating income: -(15) Ordinary income: -(16) Net income attributable to owners of the parent: -(17) Net income per share: -As for item (9), descriptions about SDK represent the situation as of June 30, 2020.As for items from (10) through (17), figures for SDK are based on the financial statements for the fiscal year ended December 2019. 4. Outline of the business division to be split(1) Scope of business of the division to be splitProduction and sale of SDK's visible-light and infrared LEDs, light-receiving epitaxial wafers, and rare earth alloys(2) Performance of the division to be split (for the fiscal year ended December 2019)Net sales: 4,799 million yen(3) Items and amounts of assets/liabilities to be splitAssetsCurrent assets: 1,185 million yenFixed assets: 559 million yenTotal: 1,744 million yenLiabilitiesCurrent liabilities: 0 million yenLong-term liabilities: 0 million yenTotal: 0 million yenNote: The figures shown above are based on the balance sheet as of June 30, 2020. The actual amount of assets and liabilities to be split will be finalized in consideration of increases/decreases until the effective date.5. Outline of listed company and succeeding company after absorption-type company splitSplitting company(1) Name: Showa Denko K.K.(2) Location: 13-9, Shiba Daimon 1-chome, Minato-ku, Tokyo(3) Representative: Kohei Morikawa, President(4) Scope of business: Production and sale of petrochemicals, gas products, specialty chemicals, electronics, inorganics, aluminum, etc.(5) Capital stock: 140,564 million yen(6) Accounting term: December 31Succeeding company(1) Name: Showa Denko Photonics Co., Ltd.(2) Location: 1505 Shimokagemori, Chichibu, Saitama Prefecture(3) Representative: Masahiko Usuda, President(4) Scope of business: Production and sale of visible-light & infrared LEDs, light-receiving epitaxial wafers, and rare earth alloys(5) Capital stock: 100 million yen(6) Accounting term: December 31 6. Future prospectsAs the Company Split is to be implemented as a business transfer to a wholly-owned consolidated subsidiary of SDK, it will have only minor influence on SDK's business performance.About Showa Denko K.K.Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY) is a major manufacturer of chemical products serving from heavy industry to computers and electronics. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory/graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high bright LEDs, and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.Contact:Showa Denko K.K., CSR & Corporate Communication Office, Tel: 81-3-5470-3235 Copyright 2020 JCN Newswire. All rights reserved. www.jcnnewswire.com

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TOT BIOPHARM International Company Limited Optimises Company Management Structure to Promote Strategic Development Upgrade

HONG KONG, Oct 16, 2020 - (ACN Newswire) - TOT BIOPHARM International Company Limited ("TOT BIOPHARM" or the "Company"; stock code: 1875.HK), is pleased to announce that Ms. Yeh-Huang, Chun-Ying, Executive Director, has been appointed as Vice Chairman of the Board while she has resigned as General Manager of the Company. Besides, it has also announced that Dr. Liu, Jun has been appointed as Chief Executive Officer of the Company and will cease to act as Chief Operating Officer and Vice General Manager.Mr. Fu, Shan, Chairman of the Board of the Company, said, "To implement the strategic development plan of the Company in the next decade, the appointments of the Board and the management will be conducive to optimising the Company's management structure, or initiating a long-term succession plan for the management, so that the Company will achieve long-term sustainable development and be fully equipped to enter the commercialization development stage. Also, this move will enhance the development of the Company's overseas R&D projects and international cooperation projects, promoting its strategic deployment of internationalization."Ms. Yeh-Huang has established a comprehensive industrial chain platform for the Company, laying major milestones as well as a solid foundation for its long-term development. She will also continue to promote the Company's strategic development, enhancing its brand recognition and public relations.As a scientist and senior management of the Company, Dr. Liu has been deeply involved in the R&D of biological drugs for years and also possesses profound experience in internationalization management. After taking the helm of CEO, the Board believes that Dr. Liu will continue to pursue the Company's strategic goal of developing TOT BIOPHARM into a leader in the field of China's antibody drug conjugate ("ADC") and establish a competitive CDMO business platform, leading the Company to scale new heights.Dr. Liu, Jun, aged 53, joined the Company as Deputy General Manager in October 2016, and was appointed as Executive Director, Chief Scientific Officer and Chief Operating Officer in October 2018, March 2019 and April 2020, respectively. He also serves as a member of the Strategic Committee, and is responsible for the Company's R&D, supervising overall operations as well as business development.Before joining the Company, Dr. Liu was the Senior Scientist of Bayer HealthCare's Global Biologics Development Group in Berkeley, the US, the Chief Researcher of Immunology Department at Beckman Research Institute in California, the US, and also the Executive Director of Biologics Research and Development Department at Shanghai ChemPartner Co., Ltd.Dr. Liu possesses a professional background with international exposure, holding a PhD in Bioanalytical Chemistry from the University of California, Davis in the US and a Bachelor's degree in Chemistry from the University of Science & Technology of China. Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com

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Woori BMO Group Comments on Finance of America Set for IPO

TORONTO, ONTARIO , Oct 16, 2020 - (ACN Newswire) - Woori BMO Group has today commented on Blackstone Group-backed consumer-leading platform Finance of America Equity Capital LLC as they get set to go public with a valuation of $1.9 billion through a publicly traded special purpose acquisition company (SPAC) merger, the popular way to list this year."Finance of America is merging with the special-purpose acquisition company Replay Acquisition Corp. This will give the company a valuation of $1.9 billion. The company will also receive $250 million in investment from institutional investors as part of the deal," commented Christian Harper, Director of EMEA Wealth Management at Woori BMO Group.As a result of the transaction, the Pennsylvania-headquartered company's founder and CEO Bill Dallas and funds managed by Blackstone will be left with a 70% ownership stake.This year, SPACs have emerged as a popular IPO substitute for some businesses, offering a route to going public with less regulatory oversight and more clarity about the valuation that will be reached and the funds that will be raised."So far in 2020, U.S. SPACs have raised $53.8 billion through IPOs, which is more than the total raised in the last seven years," commented Director of Institutional Equity at Woori BMO Group, Andrew Williams.Finance of America has generated over $65 billion in loans through its collection of companies since 2017, according to researchers at Woori BMO Group. The company operates in four emerging markets including Commercial Real Estate, Mortgages, Reverse Mortgages and Fixed Income Investing. In recent years, Blackstone has evolved Finance of America through a series of acquisitions, including purchases of Gateway Funding, Pinnacle Capital Mortgage and Skyline Home Loans.In the third quarter, Finance of America generated over $7.4 billion, the highest of any quarter on record for the end-to-end lending and services platform. Like other mortgage lenders, the Blackstone portfolio company has highly benefited from ultra-low interest rates and a huge demand for refinancing business.About Woori BMO GroupFounded in 2007, Woori BMO Group is a full-service wealth management company providing both corporate institutions and private clients a tailored financial advisory service from its retail office in Toronto, Canada.Media ContactCompany: Woori BMO GroupContact: Mr. Shinsato Masao, Chief EconomistTelephone: +1-647-946-8880Email: shinsato.masao@wbginternational.comAddress: 25F Exchange Tower, 130 King Street West, Toronto, ON, Canada M5X 1E3Related LinksWoori BMO Group https://www.wbginternational.com/To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66036 Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com

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