ACN Newswire
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Reorganize Business Segments, Inject High-Quality Assets, Gome Retail Prepare Operations & Strategies Adjustments

indie
5 minutes

HONG KONG, Aug 22, 2022 - (ACN Newswire via SEAPRWire.com) - GOME Retail Holdings Limited (HKEX Code: 493.HK, "GOME" or "the Company", and together with its subsidiaries, "the Group") announced the Possible Very Substantial Acquisition and Connected Transaction on 19th, August 2022. The Company conditionally agreed to acquire the entire equity interests in Eagle Delight Properties (Overseas) Limited, aiming to inject high-quality assets at low prices and optimize the asset structure, increasing the level of return to shareholders of the Company. An application has been made by the Company to the Stock Exchange for trading in the Shares to resume from 9:00 a.m. on 22, August 2022.Affected by the internal and external macro environment, the capital market and the industry face uncertain risks. GOME prudently assesses the market situation, with the objective of improving future operational efficiency, the Company plans to reorganize its business segments and optimize its asset structure, use technological means to facilitate the digital transformation of the enterprise and improve the consumer service experience throughout the process, ultimately improve the profitability of the Group...

SeaPRwire
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GONGGANTECH of Korea, introduces Earthquake-Resistant Ceiling lightweight Steel Frame that Will Change the Paradigm of Construction

pandora
3 minutes

Seoul, Korea, March 25, 2022 – (SEAPRWire) – GONGGANTECH is proud to announce the release of their newest model of earchquake-resistant ceiling lightweight steel frame, which will change the paradigm of construction. Established in 2002 as a construction company, GONGGANTECH Korea, develops construction safety technology and products based on 20-year know-how and experience in the construction industry. In particular, the level of GONGGANTECH’s technology for earthquake-resistant safety products is outstanding. Its product was awarded the presidential citation in 2018, selected as an excellent invention by Korean Intellectual Property Office in 2019, ranked in the top 10 excellent patents for industrialization in 2021, and certified as a promising small and medium-sized enterprise by the local government community. Attracting attention, the ‘Earthquake-Resistant Ceiling lightweight Steel Frame’ surpasses the limit of existing lightweight products, which have been used for the past 40 years and presents a new paradigm of lightweight steel structure. Existing products have been used even before the various equipment such as electricity, firefighting, communication, air conditioning, ...

JCN Newswire
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Showa Denko Group Starts to Consider Transformation into Holding Company Structure

ruth
5 minutes

TOKYO, Mar 9, 2022 - (JCN Newswire via SEAPRWire.com) - Showa Denko K.K. (SDK) (TOKYO: 4004) announces that it was resolved at the Board of Directors meeting held today that, regarding a plan for transformation from current company structure to holding company structure, the Company will start to consider the plan and prepare for execution of the plan. Execution of the plan is subject to adoption of relevant resolutions by shareholders at an extraordinary general meeting of shareholders, which is planned to be held in late September 2022, and is also subject to approval and authorization by the appropriate authorities. We will announce details of the plan as soon as they are decided.1. Background and purpose of the considerationAs we stated in "Our Policy toward Realization of 'Co-Creative Chemical Company'," which was announced on February 14, 2022, the Showa Denko Group aims to change the Group into "Company that can compete on the world stage," "Company that contributes to sustainable global society," and "Company that develops talent that represents Japan's manufacturing industry," thereby making the Group "Global Top-Level Functional Chemical Manufacturer from Japan," which is...

JCN Newswire
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NEC Announces Business Structure Reform for Achieving the Mid-term Management Plan 2025

ruth
4 minutes

TOKYO, Jan 31, 2022 - (JCN Newswire via SEAPRWire.com) - NEC Corporation (TSE: 6701) today announced business structure reforms for further accelerating and strengthening the execution of business strategies in support of achieving the Mid-term Management Plan 2025. The implementation of reform measures centered on "organizational simplification," "flattening of layers (hierarchies)," "flexibility of organizational design" and the "delegation of authority with clarification and strengthening of responsibility" are set to be introduced through a new business structure which will be effective from April 1, 2022. With the progress of digital transformation (DX), customer needs are shifting from the improvement of operational efficiency and business innovation within companies and organizations to creating new value and business, including cross industrial initiatives. Moreover, the competitive environment is becoming more global and complex. In order to respond quickly to such changes in the environment, it is essential to allocate NEC's resources flexibly and speedily. Since the introduction of the business division system in the 1960s, NEC has been operating its business without sig...

SeaPRwire

As Evergrande default looms, what legal options do offshore creditors have?

elean
5 minutes

LONDON/HONG KONG (REUTERS) - With China Evergrande Group's default deadline drawing closer, offshore bond investors in the property developer are pondering their legal options to safeguard their investments. Below are some factors at play as offshore investors, with some US$20 billion (S$27 billion) of Evergrande debt outstanding, gear up to deal with the potential fallout from what could become China's biggest ever corporate default: Do Evergrande's offshore bonds carry any guarantee from issuer? Chinese legal rules prevent mainland-incorporated parent companies from guaranteeing their subsidiaries' offshore debt without going through a registration and approval process. To work around this, offshore corporate bonds, in many cases, are issued by Special Purpose Vehicles (SPVs) and feature a so-called keepwell structure. The way many market participants worked around the lack of a guarantee was by using keepwell deeds - an undertaking to bondholders, and the offshore SPV which issues the debt, that the parent will make sure the SPV maintains a positive net worth and remains solvent. The keepwell structure emerged in 2012-2013, according to Fitch, which cited data estimating that in...