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News

First Batch of 250 Students of ‘Samsung Innovation Campus’ Graduate with Certificates in Coding & Programming

Aug 12, 2024 by Mansi Praharaj 0 Comments #BENGALURU, #Corporate Vice President, #ESSCI, #Ltd, #Samsung Electronics Co., #Samsung Innovation Campus, #Samsung Southwest Asia, #soft skills training, #SP Chun, #Sri Krishnarajendra Silver Jubilee Technological Institute

Karnataka August 12th, 2024: Samsung has awarded certificates of completion to its first batch of 250 students of its flagship CSR programme, Samsung Innovation Campus at Sri Krishnarajendra Silver Jubilee Technological Institute, Bengaluru. The students were all from the course in Coding & Programming. Through the programme, Samsung has committed to being a strong partner in the Government’s mission to empower the country’s youth and #PoweringDigitalIndia.

The students who were mentored and trained at Shri Krishnarajendra Silver Jubilee Technological Institute, Bengaluru also participated in a hackathon and devised tech-based solutions to solve real-world problems. The hackathon encouraged participants to collaborate, innovate, and develop a problem-solving mindset. They were awarded certificates of completion at a felicitation ceremony by Sri KM Suresh Kumar, Joint Director, Department of Collegiate & Technical Education, Government of Karnataka, Dr. Abhilasha Gaur, CEO, ESSCI, Dr Paul Vizhian S, Principal, University of Visvesvaraya College of Engineering (UVCE), and Dr. Vijaya GS, Principal, SKSJTI.

“Samsung Innovation Campus is aligned with the Government of India’s objectives of skilling the youth and empowering them with professional growth opportunities. It is inspiring to see young students develop skills at such a fast pace. We are proud to be a part of their upskilling journey. Samsung is committed to building a platform of skill-based learning that would create job opportunities in future-tech domains, and effect meaningful change”, said SP Chun, Corporate Vice President, Samsung Southwest Asia.

This year the programme goes beyond just skilling to include more exciting opportunities for the students. The national toppers from each domain will receive a cash award of INR 1 Lakh along with an opportunity to visit Samsung facilities in Delhi/NCR. The visits to the facilities will provide the students with an opportunity to interact with the leadership team at Samsung. The national course toppers will also get exciting Samsung products.

During the programme, participants will receive instructor-led blended classroom and online training through approved training and education partners of ESSCI across the country.

The students are also being imparted soft skills training to enhance their employability. The participant mobilisation is being implemented through ESSCI’s training and education partners across India. The approach includes a combination of offline and online learning, immersive hackathons and capstone projects, as well as expert mentorship provided by Samsung employees.

The curriculum structure varies depending on the chosen course track. For instance, participants opting for the AI course will immerse themselves in 270 hours of theoretical training and complete 80 hours of project work. Meanwhile, those pursuing the IoT or Big Data courses will undergo 160 hours of training, supplemented by 80 hours of practical project work. Participants in the Coding & Programming course will engage in 80 hours of training and participate in a 3-day hackathon event.

The programme spans eight educational institutions across four states. In the northern region, training centres are established in Lucknow and Gorakhpur, besides two in Delhi/NCR. In the Southern region, covering states of Tamil Nadu and Karnataka, training centres are located in Chennai and Sriperumbudur, besides two in Bengaluru.

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, home appliances, network systems, and memory, system LSI, foundry and LED solutions, and delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For latest news on Samsung India, please visit Samsung India Newsroom at http://news.samsung.com/in. For Hindi, log on to Samsung Newsroom Bharat at https://news.samsung.com/bharat. You can also follow us on Twitter @SamsungNewsIN.

Business

SF Intra-city(09699.HK) Expand Its on-demand Delivery Business in Hong Kong in July

Jun 27, 2024 by Sujata Muguda 0 Comments #Delivery Business in Hong Kong in July, #Hangzhou SF Intra-city Industrial Co., #Hong Kong, #Ltd, #RMB, #SF Intra-city, #SoFast

HONG KONG, June 27, 2024 — Hangzhou SF Intra-city Industrial Co., Ltd. (“SF Intra-city”, Stock Code: 9699.HK), China’s largest third-party on-demand delivery service provider, is pleased to announce that it will develop and expand its intra-city on-demand delivery services in Hong Kong, China in July 2024. Leverage its extensive industry experience and operational strengths of on-demand delivery industry accumulated over the years, SF Intra-city aims to provide better services to merchants and consumers.

Together with recent recruitment postings on various platforms, SF Intra-city is actively recruiting a large number of rider partners, including walkers, bicycle riders, drivers of motorcycle, passenger car, and van in Hong Kong. The rider-specific mobile application (App), “SoFast Rider”, for the Hong Kong region has been officially launched gradually and has been available for public download on major mobile app stores. SF Intra-city will launch its services in Hong Kong under the “SoFast” brand.

The recruitment postings show that unlike food delivery services, the platform’s delivery tasks will primarily focus on documents, small parcels rather than food delivery. The per-kilometer income for deliveries is twice as high as other food delivery platforms, and the hourly revenue can reach up to HKD $300. Riders can choose delivery tasks based on their own schedules without any fixed online time limits, allowing them to freely decide how many tasks to accept. Additionally, they can participate in lucrative incentive programs.

It is reported that SF Intra-city has always regarded its riders as primary partners, placing the utmost efforts to protect their rights and interests, providing them income opportunities and long-term development. This initiative aims to offer Hong Kong riders the opportunity to “earn flexibly, accept orders freely, enjoy stable order volumes, and receive generous rewards,” fostering a mutual beneficial ecosystem.

SF Intra-city has introduced a range of equipment for Hong Kong riders featuring the “SoFast” logo, including T-shirts, vests, hand carry cases, backpacks, sun protection clothing, and rain gear. Currently, the first batch of registered riders will receive “SoFast” basic gear (T-shirt or vest) for free, and those who become pioneer riders would have the chance of receiving the full “SoFast” gear set for free.

In recent years, the on-demand delivery market in mainland China has experienced rapid development. According to data from iResearch, the market size of on-demand delivery industry in mainland China is expected to maintain high growth from 2023 to 2028, and is projected to RMB 810 billion by 2028. Data from the Hong Kong Census and Statistics Department shows that revenue from local courier activities business in Hong Kong recorded a rapid growth of 116% to HKD 2,253 million during 2012 to 2020. This indicates significant room for penetration and commercial development in Hong Kong’s on-demand delivery market in the future.

The expansion of SF Intra-city’s on-demand delivery business to the Hong Kong market marks an important milestone for the Group in its overseas expansion development. Last year, the Group’s business continued to grow healthily, pioneering the industry in achieving profitability, fully demonstrating the release of the Gorup’s economies of scale and network effects in the mainland business. Moreover, the Group’s differentiated services attracted high-value orders while technology-driven comprehensive co-ordination and scheduling has boosted the efficiency of the delivery network. The continuous measures to refine management and improve operational quality have enhanced the efficiency of resource input-output.

The Group’s business integration in various markets in mainland China, including food delivery, instant retail, personal services and last-mile delivery have unlocked more exciting business opportunities, which will lead to a more even distribution of orders. This has driven improvements in the operational efficiency of riders around-the-clock, allowing the Group to increase business scale and rider order density.

SF Intra-city will strive to leverage its extensive and successful experience in on-demand delivery from the mainland China market, along with its leading technology and solutions, to offer high-quality on-demand delivery services to Hong Kong users. The third-party multi-scenario business model, proven in the mainland China market, is expected to be effectively applied in Hong Kong. By partnering with various e-commerce platforms and new retail brands, SF Intra-city will bring more momentum and growth opportunities to Hong Kong’s on-demand delivery market.

As the largest third-party on-demand delivery platform in China, SF Intra-city is actively exploring overseas expansion to find new growth opportunities. Entering the Hong Kong market will help SF Intra-city validate its business model in international markets, aiding the Group in discovering more opportunities abroad in the future. As SF Intra-city strives to fulfill its mission of “letting more people enjoy a close and beautiful life,” the Group looks forward to steady progress, high-quality growth, and delivering increased value to shareholders and investors.

News

Cctv+: Dream Chasers–ten Stories in One City (Episode 1)

Jun 27, 2024 by Sujata Muguda 0 Comments #BEIJING, #Cctv+: Dream Chasers, #CEO of Beijing Anding Homecoming Agricultural Science, #Li Yuefeng, #Ltd, #Stories in One City (Episode 1), #Technology Co.

BEIJING, June 27, 2024– Episode 1: Heart of the Homeland: The Dream Journey of Li Yuefeng, CEO of Beijing Anding Homecoming Agricultural Science and Technology Co., LTD.

From the center of Beijing, a journey southward less than 40 kilometers brings you to the ancient town of Anding in Daxing District. Here lies the largest ancient mulberry garden in north China and also a unique site exclusive to Beijing, earning it the name “hometown of mulberry“. Now, this venerable mulberry garden welcomes a new neighbor—the Taiwan Oneheart science and technology farm. Li Yuefeng, hailing from China’s Taiwan region, is building a smart farm on this land alongside his partners.

Business

EKA Mobility announces second tranche investment from Mitsui & Co., Ltd

Jun 21, 2024 by Sujata Muguda 0 Comments #Dr. Sudhir Mehta, #EKA, #EKA (Pinnacle Mobility Solutions), #EKA Mobility, #Electric Vehicle, #Ltd, #Mitsui & Co., #Mitsui & VDL Groep, #Mobility Business Unit 1 of Mitsui, #Mr. Hiroshi Takeuchi, #New Delhi

New Delhi, Thursday, June 21, 2024 – EKA (Pinnacle Mobility Solutions) announces Mitsui & Co., Ltd. (“Mitsui”), a global trading and investment company with a rich history of contributing to industrial innovation, has executed a second tranche investment as a part of the initially announced phased investment, further solidifying their commitment to the rapidly growing electric vehicle (EV) company. This strategic infusion of capital will be directed towards capital expenditures (Capex) and working capital, supporting EKA Mobility’s continued expansion and innovation in the EV sector. This tranche also establishes an attractive valuation benchmark for the company and is testimony to the rapid growth that EKA is witnessing.

Team #BharatKiEKA

In December 2023, EKA, Mitsui & VDL Groep entered into a strategic long-term partnership, that included joint investments of USD 100 million in phases, equity, and technology cooperation to create a leading global OEM in India. This is one of the largest and most significant partnerships in the new mobility segment globally. Under the cooperation, EKA Mobility will receive significant and strategic investments from Mitsui, and technological support & equity partnership from VDL Groep, a leading Dutch technology and manufacturing company. As part of this partnership, VDL Bus & Coach, a subsidiary of VDL Groep and Europe’s frontrunner in electric buses & coaches will support EKA Mobility by transfer-of-technology to produce electric buses in India for the Indian market.

Earlier this year, Mitsui invested its maiden tranche in EKA which propelled the company to establish one of the largest R&D centres in the country for electric commercial vehicles, new product development, and expanding its export footprints. The second tranche will support EKA Mobility’s manufacturing capabilities, accelerate new product development, expand market reach, and provide working capital. The investment will strengthen the company’s financial base to support day-to-day operations, supply chain optimization, and market expansion initiatives.

“We are thrilled to deepen our partnership with EKA Mobility through the investment of this second tranche,” said Mr. Hiroshi Takeuchi — Deputy General Manager of Mobility Business Unit 1 of Mitsui. “EKA Mobility has demonstrated strong growth and innovation in the EV space, and we are excited to support their continued success. We look forward to utilizing Mitsui’s global network to promote exporting EKA’s competitive products to overseas markets. This investment aligns with Mitsui’s strategic focus on sustainable and forward-looking industries, and we are confident that EKA Mobility will play a pivotal role in the future of transportation.”

EKA, headquartered in Pune, India, has been at the forefront of the commercial electric mobility revolution, developing a range of electric buses in 7mtr, 9mtr & 12mtr categories, intercity coaches, and a range of electric light commercial vehicles. EKA is also one of the commercial vehicle manufacturers approved under the Government of India’s Auto PLI policy. Mitsui’s renewed investment underscores its confidence in EKA Mobility’s vision, technology, and market potential.

Dr. Sudhir Mehta, Founder of EKA (Pinnacle Mobility Solutions), expressed his gratitude for Mitsui’s continued support: “We are immensely grateful to Mitsui & VDL Groep for their unwavering confidence and sustained investment in EKA Mobility. The continued investment support will enable us to accelerate our growth trajectory, bring innovative EV solutions to market faster, and further our mission to create a sustainable and green transportation ecosystem. We look forward to a long and successful partnership with Mitsui & VDL.”

Business

InfoComm Asia 2024 Highlights Top Tech Innovations

Jun 20, 2024 by Sujata Muguda 0 Comments #Asia's Premier International Professional AudioVisual (Pro AV) Exhibition, #Bangkok, #Chinavut Marketing Co., #InfoComm Asia, #InfoComm Asia 2024, #Ltd, #Shenzhen Guojia Optoelectronics Co., #Top Tech Innovations

BANGKOK, June 20, 2024 — InfoComm Asia 2024—Asia’s Premier International Professional AudioVisual (Pro AV) Exhibition – returns to Bangkok, Thailand for its 4th edition this July with new and first-to-debut in Asia products by leading technology and solution providers, including Barco, Christie, Jabra, Sennheiser, and many others. In addition, InfoComm Asia and TruSound will present a one-of-a kind showcase – the Immersive Sound Experience – a tranquil black box environment designed by Emmy-award winning composer Stephen Cavit, offering attendees a truly immersive auditory journey, amidst the bustling show floor.

InfoComm-Asia-2024-17-19-July-Bangkok-Thailand

InfoComm Asia 2024 promises to be the largest yet, with over 40% show floor expansion. Boasting over 180 exhibitors, 280 brands, and 52 forward-thinking conference sessions, InfoComm Asia 2024 will take place from 17-19 July at the Queen Sirikit National Convention Center (QSNCC). Professionals can register for the show in advance to skip the long queues onsite and explore the complete line-up of program and opportunities at InfoComm Asia 2024 here.

Just some of the featured and first to debut in Asia companies, products, and solutions at this year’s InfoComm Asia includes:

Barco: Celebrating their 90th anniversary and showcasing their biggest products to date, Barco will unveil their most significant products to date, including the Projector I600, Encore3 Event Master QD X and Clickshare Video Bar and Clickshare CX50 Gen2.
Christie: AV stalwart Christie will launch their new 1 DLP Projector that uses the latest TI chip and invites all attendees to experience their “fully immersive interactive cave” powered by their signature 4K 13 HS Series Projector.
Jabra: In the field of audio sensation enhancements, Jabra will introduce Jabra+, their new software platform for comprehensive meeting room management capability, allowing administrators to manage room devices remotely and at scale.
Sennheiser: Introducing their innovative Sennheiser Room Planner software that enables AV teams to virtually design audio systems with microphone coverage. Sennheiser will also debut TeamConnect Solutions in Asia, including the feature-rich conferencing devices TeamConnect Bars and TeamConnect Ceiling.

In addition, InfoComm Asia 2024 will also feature exciting product debuts from these solution providers:

Jector Digital (Taiwan, China): Introducing the LX -Series 138”LED for the first time in Asia.
AHA Co., Ltd. (Korea): Launching the world’s first QLED IFPD -with Wide color gamut with 95% coverage.
MMD Singapore Pte. Ltd.: Presenting for the first time in Asia the Philips Tableaux Advanced Colour ePaper display, delivering images in 60,000 vivid colors 24/7.
Shenzhen Guojia Optoelectronics Co., Ltd. (China): Experience their LED Holographic Invisible Screens, utilizing advanced holographic technology forming 3D visuals that seem to float in mid-air.
Chinavut Marketing Co., Ltd. (Thailand): See first-hand their KWH-55WT (Transparent Digital Signage), incorporating the latest 4G digital multimedia processor technologies for excellent visual effects.

Business

Bakery China Concludes The 26th Edition with a Whopping 393,009 Visits in Shanghai

Jun 12, 2024 by Sujata Muguda 0 Comments #009, #Bakery China, #Bakery China Exhibitions Co., #China Association of Bakery and Confectionery Industry, #Global Integration for Coordinated Industry Development, #Ltd, #Shanghai, #The 26th Bakery China, #The 26th Edition with a Whopping 393, #Zhen Hongguo

SHANGHAI, June 12, 2024 — The 26th Bakery China, co-organized by the China Association of Bakery and Confectionery Industry (CABCI) and Bakery China Exhibitions Co., Ltd., concluded successfully on May 24th. This exhibition reached unprecedented heights with a 320,000-square-meter area, encompassing the entire industry chain. With over 2,200 exhibitors from more than 30 countries and regions, it showcased an impressive array of over 100,000 brands. The event garnered a remarkable total of 393,009 visits from professional buyers.

Spanning 4 days, the exhibition focused on showcasing the industry’s current state and specific developmental prospects. Its aim was to help the bakery industry meet evolving demands from diverse scenarios and demographics in innovative ways, while providing a platform for sharing countless business opportunities.

Fostering Global Integration for Coordinated Industry Development

The exhibition attracted buyer delegations from emerging markets or those with high purchasing power, such as Asia, the Middle East, Europe, and Oceania, resulting in over 10,000 visits from beyond China. The International Trade Match-Making service facilitated over 3,000 precise business matchmaking sessions. More than 90% of international buyers expressed satisfaction with the services. “We are very loyal to Bakery China for at least 7 or 8 years.” commented a French buyer.

“More and more international buyers and professional bakers and industrial bakers are coming to China to source for more equipment, bakery needs and looking forward for new innovations and new trends,” said Zhen Hongguo, President of Filipino-Chinese Bakery Association, Inc.

The Bakery Products market in China is anticipated to achieve a projected market size of US$162.4 billion by 2030. This growth trajectory is attracting an increasing number of international buyers, professional and industrial bakers to China, seeking to procure advanced equipment and ingredients to meet their baking needs. They are actively exploring innovative avenues for development and emerging trends in the industry.

Forging an Innovative and Digitalized Integrated Platform

With over 2,200 industry supply chain participants, the exhibition comprehensively showcased cutting-edge innovation trends across various dimensions. Teaming up with globally renowned consulting firms like Euromonitor, Innova, and Mintel, it provided firsthand data and innovative trends from China and other key markets. Additionally, the showcase of Bakery China Go Green exemplary cases demonstrated responses to global decarbonization and emission reduction initiatives.

Diverse activities, including nearly thirty forums, four thematic competitions, one bazaar, multiple industry cluster zones, and more, were integrated into the exhibition. By connecting food, fashion, culture, and art, it truly created an annual event that breaks boundaries. Moreover, the digital platform iBakeryChina pioneers a layered exhibition hall layout and enables real-time synchronization between exhibitors’ physical booth locations and their online stores.

Stay tuned for an exciting lineup of upcoming baking events. The Bakery China Autumn & China Home Baking Show 2024 is scheduled to take place from October 17th to 19th at the Wuhan International Expo Center. The 27th Bakery China is set to be held from May 19th to 22nd 2025 at the National Exhibition and Convention Center.

News

Seibu Ikebukuro Main Store Slated for Summer 2025 Grand Re-opening as a New Department Store

Jun 11, 2024 by Mansi Praharaj 0 Comments #Department Store, #Ltd, #Maison, #o & Seibu Co., #Seibu Ikebukuro

June 11, 2024

TOKYO, Japan

Sogo & Seibu Co., Ltd. which has a long successful history of innovative and creative thinking, will renew its business strategy under its new shareholder and commence full-scale renovation work on the Seibu Ikebukuro Main Store. The store will reopen in stages starting in January 2025, with a grand re-opening planned for the summer of the same year.

Seibu Ikebukuro Main Store, always at the forefront of the times, aims to provide customers with encounters of high quality and a special sense of excitement by undergoing a full renovation of the building for the first time. With the theme of “INCLUSION”, the store will feature larger stores with both “women” and “men” categories in the same stores catering to modern tastes for enjoyment and shopping. Moving away from the traditional department store which was very segregated by different floors for Men and Women, Seibu Ikebukuro will welcome all customers visiting Ikebukuro in unifying spaces where friends, couples, and families can shop and enjoy time together. With a variety of world-class brand shops and a high-quality interior and exterior design, the store will create a new face for the Ikebukuro area.

The entire Seibu Ikebukuro Main Store itself and each floor will be designed with the architectural concept of “Maison” (“House” in French) to create spaces that embody three elements befitting high quality: “class”, “sophistication”, and “art”. The centerpieces will focus on luxury, cosmetics, and basement deli section, and the fashion areas will feature sales floors that remove the traditional gender concepts of “women” and “men”.

Merchandising will be strengthened, focusing on luxury, cosmetics, and the basement deli section, areas that have been mostly supported by customers in recent years. The “Luxury” section will bring together about 60 of the world’s top brands and will be presented in mixed men’s and women’s shops (with sales floor area 1.3 times larger than the current size). The “Cosmetics” section will offer about 60 domestic and international brands, including unisex brands that customers can shop for with their partners (with sales floor area 1.7 times larger than the current size). The basement deli section, which is considered to be the face of a department store, will aggregate Seibu Ikebukuro Main Store’s power content and is scheduled to feature about 180 shops including new brands. Sogo & Seibu will also strengthen its private sales service for valued customers which is one of its strengths.

As a commercial facility that supports Ikebukuro, the 3rd largest terminal station in the world and one of the world’s top-class premium market, Seibu Ikebukuro will enhance its grade to provide maximum customer satisfaction in both scale and content. It will serve as the gateway to Toshima Ward, which continues to evolve as an international city of art and culture.

As lifestyles diversify, department stores are entering an era where they are required to evolve. We hope you will look forward to the new Seibu Ikebukuro Main Store, which will provide new value tailored to customer needs while retaining the excellent services of traditional department stores.

Business

SF Intra-city (9699.HK) Intends to Continue Shares Repurchase

Jun 11, 2024 by Sujata Muguda 0 Comments #Hong Kong, #Ltd, #m Hangzhou SF Intra-city Industrial Co., #SF Intra-city, #Stock Exchange

HONG KONG, June 11, 2024 — Hangzhou SF Intra-city Industrial Co., Ltd. , China’s largest third-party on-demand delivery service provider, is pleased to announce that the Board of Directors intends to continue to conduct H Shares repurchases by utilising the Share Repurchase Mandate and repurchase H shares in the open market from time to time by using the remainder of the HK$200 million limit for repurchasing H shares as announced in 19 October 2023, which is approximately HK$37 million.

On 19 October 2023, the Board of the Group decided to utilise the 2023 Share Repurchase Mandate passed at the 2022 annual general meeting of the Company held on 6 June 2023 and, it plans to repurchase H shares in the open market from time to time by using up to HK$200 million limit. As at 6 June 2023, the Company had used a total of HK$163,109,888.01 to repurchase 16,082,200 H shares. The H shares repurchased by the Company before 11 June 2024 (being the date on which the proposed amendments to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited relating to treasury shares will come into effect) shall be cancelled in due course.

Pursuant to the 2023 annual general meeting of SF Intra-city held on 6 June 2024, the Board was granted the powers under the general mandate (the “Share Repurchase Mandate”) to repurchase the H Shares. And the Board announced on 6 June 2024, to continue to conduct H shares repurchases by utilising the Share Repurchase Mandate and repurchase H shares in the open market from time to time by using the remainder of the HK$200 million limit for repurchasing H shares as announced in 19 October 2023, which the remainder is approximately HK$37 million.

The Proposed Share Repurchase is intended to be financed by the Group’s own financial resources other than proceeds from the listing of the H Shares on the Main Board of The Stock Exchange of Hong Kong Limited in December 2021. The Group believes that the current financial resources of the Company would able to implement the Proposed Share Repurchase while maintaining a solid financial position.

The Group believes that a share repurchase in the present market conditions will demonstrate the Company’s confidence in its own business outlook and prospects and would, ultimately, benefit the Group and create value for the shareholders.

SF Intra-city stated that the share repurchase demonstrates the Group’s confidence in its business development and prospects, conveying a positive signal to the market and investors. It will enhance investors’ understanding of the Company’s potential to increase earnings per share and improve the attractiveness of the Group’s financial indicators. This aims to deliver greater value and returns to its shareholders and investors.

Business

CICC Porsche Fund has completed its initial closing

Jun 8, 2024 by Sujata Muguda 0 Comments #Asset Management Association of China, #BEIJING, #CICC, #CICC Porsche Fund, #CICC Private Equity Investment Management Co., #Ltd, #Lutz Meschke, #Venture Capital Investment Partnership

BEIJING, June 8, 2024 — Recently, CICC Porsche (Shanghai) Venture Capital Investment Partnership (Limited Partnership) (hereinafter referred to as “CICC Porsche Fund”) sponsored by CICC Private Equity Investment Management Co., Ltd. and the wholly-owned overseas entities of Dr. Ing. h.c. F. Porsche AG (hereinafter referred to as “Porsche”) has completed its initial closing and filing with the Asset Management Association of China.

It is Porsche’s first cooperation with a leading Chinese financial institution’s private fund management subsidiary worldwide. Porsche is an anchor investor that will zealously promote the development of the fund. Porsche’s investment and main cooperation scheme this time have been approved by the Porsche Global Board of Directors at its headquarters in Germany, with a highly strategic positioning. Porsche’s excellent technical system is expected to help CICC Porsche Fund select investment targets and promote post-investment empowerment.

CICC Porsche Fund is the first CICC fund (through its private fund management subsidiary) to cooperate with internationally renowned auto companies. It is significant as an illustration of CICC group’s international business. It is a model of cooperation between CICC and overseas industrial groups, attracting global capital, and serving as a high-level opening-up to the world.

The CICC Porsche Fund team has been deeply involved in the fields of new energy and intelligent connected vehicles, with distinct industry characteristics and international attributes. The team will continue to explore investment opportunities in the fields of new energy and intelligent connected vehicles with professional investment capabilities, balancing internationalization and regionalization strategies, striving for a win-win situation for portfolio companies, strategic partners, and investors, and helping China’s new energy and intelligent connected vehicle industry to flourish.

On April 24, 2024, Lutz Meschke, Deputy Chairman of the Executive Board and CFO of Porsche, and his delegation met with Yicheng Xu, member of the Management Committee of CICC, in Beijing. Björn Scheib, Head of Investor Relations and Vice President of Porsche, Shuguang Wang, member of the Management Committee of CICC and head of the Investment Banking Department, and Gang Chu, Managing Director of CICC, accompanied the meeting.

News

Art is for all. Art is a unifying factor: Parvathi Reddy, Guest of Honour and Art Collector

Minister Jubally Krishna Rao seen exploring the various art installations showcased at the 3 day India Art Festival that kicked off in the city

Hyderabad, June 07, 2024……Tourism Minister of Telangana Mr. Jupally Krishna Rao inaugurated 3day India Art Festival along with Ms. Parvathi Reddy, Art Collector and Director of NAR Infra Pvt, Ltd, Mr K. Laxma Goud, Eminent Artist; Ms. Anju Poddar Art Connoisseur and Author and Rajendra Patil, Founder Director of India Art Festival.

After 20 editions in Mumbai and Delhi, India’s contemporary art festival now comes to Hyderabad. It is our maiden show in the city. Henceforth it will be an annual affair in Hyderabad stated Rajendra Patil, Founder Director of India Art Festival. The festival is currently underway at Kings Kohinoor Convention, Gudi Malkapur Road.

Art must be affordable to all. Every house must have a piece of art. Minister Jupally Krishna Rao, the Minister for Excise and Prohibition, Tourism and Culture, Government of Telangana.

Every home should have a beautiful landscape painting, painting, a piece of abstract art or a sculpture, an artefact, or a photo. They brighten up the place and create a focal point. While it gives a good feeling, it also helps artisans. Many arts and crafts forms are vanishing. It also helps to revive them. Overall, the artists and artisans need encouragement. The India Art Festival is a must-visit festival. I will revisit tomorrow leisurely and buy some art. I also appeal to all corporate houses, my Minister colleagues and bureaucrats to visit the India Art Festival and encourage young and budding artists. Telangana Government is committed to developing arts and crafts in the state.

Guest of Honour Parvathi Reddy said art must be affordable. Art is for all. Art is a unifying factor. Art bonds people. It lights up the place. Art culture must be cultivated. Festivals like this will help young, talented, budding artists to showcase their works. It also offers them a platform to reach out to people.

Bross Mewtal Shirt_Iron Out the Wrikles on display at the India Art Festival

K. Laxma Goud, the eminent artist said Art is a visual object or experience created through an expression of skill, talent, and imagination. He appreciated the organisers for bringing the show to Hyderabad

The India Art Festival has 30 galleries, 250 artists showcasing their 3500 artworks and 100 stalls. A fusion show with live music is being held on all three days at the festival from 3.30 pm to 5 pm and a Film screening of The Eternal Canvas, a 12000-year journey through Indian art will be held between 6 pm to 7.15 pm on all three days.

The three-day festival is being held from Friday to Sunday and is open from 11 am to 8 pm. Architects and interior designers are invited. But for the general public, there is an entry fee of Rs 299/- per person. The tickets are available online at Bookmyshow.com. 15000 art lovers are expected to visit the festival during the three days.

Some of the exhibitors are the Telangana Sculptors and Artists, Ganesh Kumar Malthurkar, The Bombay Art Society, Colour Canvas, Hyderabad Art Society, Fusion Show, The Bombay Art Society, Sama Kantha Reddy, Mriya Art, Canvas Dreams Art Gallery, The Indian Art Cottage, OM Thadkar, Studio Tigerwala BOA Gallery and many other

Tag: Ltd

June 11, 2024

TOKYO, Japan