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China YCT International Group Reports Financial Results for the Fiscal Quarter Ended June 30, 2018

JINING, China, Aug. 15, 2018 /PRNewswire/ — China YCT International Group, Inc. (OTCQB: CYIG) (the “Company”) today announced its financial results for the three months ended June 30, 2018.

  • Total revenues increased by 21.9% year-over-year to $20.89 million with growth in sales from both acer truncatum seed oil and Huoliyuan capsules. The increase in revenues also benefitted from favorable exchange rate between RMB to US$ compared to a year ago.
  • Overall gross margin was 42.7%, compared to 40.0% for the same period of the prior fiscal year. The increase in overall gross margin was mainly due to higher gross margin for acer truncatum seed oil as a result of decreased raw material, packaging and manufacturing costs.
  • Net income attributable to the Company was $4.49 million, or $0.15 per share, compared to $3.81 million, or $0.13 per share, for the same period of the prior fiscal year.

“We started the new fiscal year on a high note with revenues and net income increasing by 21.9% and 17.8%, respectively, for the first fiscal quarter that ended June 30, 2018. Gross and operating margins also increased on a year-over-year basis. The acer truncatum seed oil segment was particularly strong, with revenues growing by 81.3% to $5.25 million. Gross margin for acer truncatum seed oil also reached record level of 60.5% for the fiscal quarter ended June 30, 2018,” said Mr. Tinghe Yan, Chairman and Chief Executive Officer of the Company.

“As our order trend suggests continuing growth momentum, we are optimistic about the near-term outlook of our business and believe that we can extend our streak of five consecutive years of top-line growth in fiscal year 2019,” concluded Mr. Yan.

Fiscal Quarter Ended June 30, 2018 Financial Results

For the Three Months Ended June 30,

($ millions, except per share data)

2018

2017

% Change

Revenues

$20.89

$17.13

21.9%

Gross profit

$8.92

$6.85

30.3%

Gross margin

42.7%

40.0%

2.8 pp

Operating income

$6.13

$4.64

32.1%

Operating margin

29.3%

27.1%

2.3 pp

Net income attributable to CYIG

$4.49

$3.81

17.8%

Earnings per share

$0.15

$0.13

17.7%

Revenues

For the three months ended June 30, 2018, total revenues increased by $3.75 million, or 21.9%, to $20.89 million from $17.13 million for the same period of the prior fiscal year. The increase in total revenues was mainly due to increase in sales for acer truncatum seed oil and also benefited from RMB appreciation versus US$ compared to a year ago.

Revenues from health care products increased by $0.17 million, or 2.1%, to $8.01 million for the three months ended June 30, 2018 from $7.85 million for the same period of the prior fiscal year. The revenue from sales of health care products measured in RMB decreased by 5.0% but was offset by a 7.1% increase due to favorable US currency exchange rates. The decrease in sales of the health care products in RMB was primarily due to decreases in sales of other traditional health care products. 

Revenues from Huoliyuan capsules increased by $1.24 million, or 19.3%, to $7.63 million  for the three months ended June 30, 2018 from $6.40 million for the same period of the prior fiscal year. The increase in sales of Huoliyuan capsules was primarily due to improved market share performance.

Revenues from acer truncatum seed oil increased by $2.35 million, or 81.3%, to $5.25 million for the three months ended June 30, 2018 from $2.89 million for the same period of the prior fiscal year. The increase in sales of acer truncatum seed oil was primarily due to continuing promotions of acer truncatum seed oil at conferences highlighting features and benefits of the product to our distributors and customers. Since July 2015, the Company has produced and sold acer truncatum seed oil extracted from the acer truncatum pods purchased from third party vendors. Our crops of acer truncatum pods will not be ready for production until approximately the fall of 2018. 

The sales of health care products, Huoliyuan capsules, and acer truncatum Parliament seed oil accounted for 38.3%, 36.5%, and 25.1%, respectively, of total revenues for the three months ended June 30, 2018 , compared to 45.8%, 37.3%, and 16.9%, respectively, for the same period of the prior fiscal year.

The following table summarizes revenues and gross profit by products for the three months ended June 30, 2018 and 2017, respectively:

For the Three Months Ended June 30,

2018

2017

Revenues
($M)

Gross Profit
($M)

Gross Margin
(%)

Revenues
($M)

Gross Profit
($M)

Gross Margin
(%)

Health care supplements

8.01

3.56

44.4%

7.85

3.51

44.7%

Drugs (Huoliyuan capsule)

7.63

2.19

28.7%

6.40

2.05

32.1%

Acer truncatum oil

5.25

3.17

60.5%

2.89

1.29

44.5%

Total

20.89

8.92

42.7%

17.13

6.85

40.0%

Cost of Goods Sold

Cost of goods sold comprised primarily the cost of finished goods purchased from Shandong Yongchuntang, raw materials purchased from third party vendors, and the manufacturing cost of acer truncatum seed oil and Huoliyuan capsules. For the three months ended June 30, 2018, total cost of goods sold increased by $1.68 million, or 16.3%, to $11.96 million from $10.29 million for the same period of the prior fiscal year. As a percentage of revenues, total cost of goods sold was 57.3% for the three months ended June 30, 2018, compared to 60.0% for the same period of the prior fiscal year. The decrease was primarily due to decreased raw material, packaging and manufacturing costs for acer truncatum seed oil.

Cost of goods sold for health care products, Huoliyuan capsules, and acer truncatum seed oil were $4.45 million, $5.44 million and $2.07 million, respectively for the three months ended June 30, 2018, compared to $4.34 million, $4.34 million, and $1.61 million, respectively, for the same period of the prior fiscal year.

Gross Profit

Gross profit increased by $2.08 million, or 30.3%, to $8.92 million for the three months ended June 30, 2018, from $6.85 million for the same period of the prior fiscal year. Gross profit for health care products, Huoliyuan capsules, and acer truncatum Parliament seed oil were $3.56 million, $2.19 million, and $3.17 million, respectively, for the three months ended June 30, 2018, compared to $3.51 million, $2.05 million, and $1.29 million, respectively, for the same period of the prior fiscal year.

Overall gross margin was 42.7%, with gross margins for health care products, Huoliyuan capsules, and acer truncatum seed oil being 44.4%, 28.7%, and 60.5%, respectively, for the three months ended June 30, 2018. Overall gross margin was 40.0%, and gross margins for health care products, Huoliyuan capsules, and acer truncatum seed oil were 44.7%, 32.1%, and 44.5%, respectively, for the same period of the prior fiscal year. The increase in overall gross margin was mainly due to acer truncatum seed oil as a result of decreased raw material, packaging, and manufacturing costs.

Operating Expenses

Selling expenses consist primarily of sales commissions, advertising and promotion, freight charges, and related compensation. For the three months ended June 30, 2018, selling expenses increased by $0.16 million, or 12.6%, to $1.40 million, from $1.24 million for the same period of the prior fiscal year. The increase in selling expenses was primarily due to increases in shipping cost and sales commission from increased sales and salary expense.

General and administrative expenses increased by $0.17 million, or 19.0%, to $1.08 million for the three months ended June 30, 2018 from $0.91 million for the same period of the prior fiscal year. The increase in general and administrative expenses was primarily due to the increase in depreciation and consulting expenses.

Research and development expenses were $0.32 million for the three months ended June 30, 2018, compared to $0.06 million for the same period of the prior fiscal year. The increase in research and development expenses was mainly due to the increased cost of the materials used by the R&D department. As of June 30, 2018, the Company had a staff of 27 in the R&D department.

As a result, total operating expenses increased by $0.59 million, or 26.5%, to $2.80 million for the three months ended June 30, 2018, from $2.21 million for the same period of the prior fiscal year.

Operating Income

Total operating income increased by $1.49 million, or 32.1%, to $6.13 million for the three months ended June 30, 2018, from $4.64 million for the same period of the prior fiscal year. The increase in total operating income was mainly a result of increased gross profit, partially offset by increased operating expenses. Operating margin was 29.3% for the three months ended June 30, 2018, compared to 27.1% for the same period of the prior fiscal year.

Income before Income Taxes

Interest income was $40,073 for the three months ended June 30, 2018, compared to $25,103 for the same period of the prior fiscal year. The Company also booked gain on disposal of acer truncatum bunge plants of $0.57 million for the three months ended June 30, 2017.

Income before income tax provisions increased by $0.93 million, or 17.8%, to $6.17 million for the three months ended June 30, 2018, from $5.24 million for the same period of the prior fiscal year.

Net Income

Income tax expense increased by $0.23 million, or 17.8%, to $1.54 million for the three months ended June 30, 2018, from $1.31 million for the same period of the prior fiscal year.

Net income increased by $0.70 million, or 17.8%, to $4.63 million for the three months ended June 30, 2018, from $3.93 million for the same period of the prior fiscal year.

After the deduction of non-controlling interest, net income attributable to the Company was $4.49 million, or $0.15 per basic and diluted share for the three months ended June 30, 2018, compared to $3.81 million, or $0.13 per basic and diluted share, for the same period of the prior fiscal year.

Liquidity and Capital Resources

As of June 30, 2018, the Company had cash and cash equivalents of $27.86 million, and inventories of $3.16 million, compared to $25.35 million, and $2.38 million, respectively, as of March 31, 2018. Total working capital was $31.78 million as of June 30, 2018, compared to $28.08 million as of March 31, 2018.

Net cash provided by operating activities was $4.16 million for the three months ended June 30, 2018, compared to $5.55 million for the same period of the prior fiscal year. Net cash used in investing activities was $0.26 million for the three months ended June 30, 2018, compared to $1.21 million for the same period of the prior fiscal year. Net cash provided by financing activities was $nil for the three months ended June 30, 2018 and 2017, respectively. 

Recent Developments

On July 17, 2018, the Company announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed public offering of shares of its common stock, par value $0.001 per share, for gross proceeds of $7,500,000, excluding the proceeds from the sale of additional shares of common stock to cover over-allotments, if any. The number of shares to be offered and the price range for the proposed offering have not yet been determined. China YCT International Group, Inc. has applied to list its common stock on The Nasdaq Capital Market. Maxim Group LLC will act as the sole book-running manager for the proposed offering.

About China YCT International Group, Inc.

Based in Jining, Shandong Province and founded in January 1989, China YCT International Group, Inc., through its subsidiaries, engages in the business of (i) distributing health care supplement products manufactured by Shandong Yongchuntang Group Co., Ltd. in the PRC, (ii) developing, manufacturing, and selling Huoliyuan capsules, a prescription medicine, (iii) developing acer truncatum bunge planting bases, and manufacturing and selling acer truncatum bunge seed oil in the PRC. Acer truncatum bunge plants are a species of maple tree. For more information about the Company, please visit http://zgyct.yongchuntang.com.

Forward-Looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:

At the Company:

Zecheng Shao, Vice President
Phone: +86-156-5377-2006
Email: zc_shao@126.com

Investor Relations:

Tony Tian, CFA
Weitian Group LLC
Phone: +1-732-910-9692
Email: ttian@weitianco.com

CHINA YCT INTERNATIONAL GROUP, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

JUNE 30,

MARCH 31, 

2018

2018

Assets

Current assets:

Cash and cash equivalents

$

27,863,079

$

25,353,360

Accounts receivable

364,809

174,558

Inventories

3,164,358

2,383,382

Purchase deposit to related party

1,208,005

1,412,864

Prepaid leases – current portion

633,732

741,583

Total current assets

33,233,983

30,065,747

Prepaid leases

457,876

641,349

Development cost of acer truncatum bunge planting

46,730,621

48,984,881

Plant, property, and equipment, net

15,687,813

16,793,413

Intangible assets, net

10,952,043

11,862,017

Deferred tax assets

169,314

200,387

Security deposit to related party

1,511,350

1,590,305

Total assets

$

108,743,000

$

110,138,099

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable and other accrued expenses

$

135,556

$

372,782

Advance from customers

445,829

Taxes payable

1,321,890

1,164,198

Total current liabilities

1,457,446

1,982,809

Stockholders’ Equity

Preferred stock, par value $0.001 per share; 5,000,000
shares authorized, zero shares issued and outstanding

12% Preferred stock, par value $500 per share; 45 shares
authorized, issued and outstanding

22,500

22,500

Common stock, par value $0.001 per share; 100,000,000
shares authorized; 29,839,168 and 29,789,168 shares
issued and outstanding at June 30, 2018 and March 31,
2018, respectively

29,839

29,789

Additional paid-in capital

4,363,788

4,322,838

Statutory reserve

1,828,504

1,828,504

Retained earnings

98,935,764

94,447,937

Accumulated other comprehensive income (loss)

(916,224)

4,455,017

Total stockholders’ equity attributable to the Company

104,264,171

105,106,585

Noncontrolling interest

3,021,383

3,048,705

Total stockholders’ equity

107,285,554

108,155,290

Total liabilities and stockholders’ equity

$

108,743,000

$

110,138,099

CHINA YCT INTERNATIONAL GROUP, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)

THREE MONTHS ENDED

JUNE 30,

2018

2017

Sales

$

20,888,847

$

17,134,865

Cost of Goods Sold (including $4,390,324 and
$4,288,935 from a related party for the three months
ended June 30, 2018 and 2017, respectively)

11,964,700

10,287,148

Gross profit

8,924,147

6,847,717

Operating expenses

Selling expenses

1,391,603

1,236,292

General and administrative expenses

1,081,049

908,405

Research and development expenses

322,733

64,378

Total operating expenses

2,795,385

2,209,075

Income from operations

6,128,762

4,638,642

Gain on disposal of acer truncatum bunge plants

573,092

Interest income

40,073

25,103

Income before income tax provision

6,168,835

5,236,837

Income tax provision

1,542,209

1,309,209

Net income

4,626,626

3,927,628

Less: Net income attributable to noncontrolling
interest

138,799

117,829

Net income attributable to the Company

4,487,826

3,809,799

Other comprehensive income (loss):

Foreign currency translation adjustment

(5,537,362)

1,655,501

Comprehensive income (loss)

(910,736)

5,583,129

Less: Comprehensive income (loss) attributable to
noncontrolling interest

(27,322)

166,315

Comprehensive income (loss) attributable to the
Company

$

(883,414)

$

5,416,814

Earnings per common share

Basic and Diluted

$

0.15

$

0.13

Weighted average number of common shares
outstanding

Basic and Diluted

29,804,003

29,789,168

CHINA YCT INTERNATIONAL GROUP, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

THREE MONTHS ENDED

JUNE 30,

2018

2017

Cash Flows From Operating Activities:

Net income

$

4,626,626

$

3,927,628

Adjustments to reconcile net income to net cash provided by
operating activities:

Depreciation and amortization of plant, property and
equipment

352,766

287,248

Amortization of intangible assets

333,014

309,948

Amortization of prepaid leases

230,963

210,588

Stock-based compensation

41,000

Deferred taxes

21,912

167,355

Gain on disposal of acer truncatum bunge plants

(573,092)

Changes in operating assets and liabilities:

Purchase deposit to vendors

655,130

Inventory

(932,817)

2,315,657

Accounts receivable

(206,330)

1,080,011

Cash received from cancellation of lease

55,932

Taxes payable

223,523

(908,641)

Purchase deposit and accounts payable to related party, net

139,733

(2,014,308)

Advance from customers

(439,483)

Accounts payable and other accrued expenses

(226,868)

40,790

Net cash provided by operating activities

4,164,039

5,554,246

Cash Flows From Investing Activities:

Acquisition of property, plant and equipment

(70,793)

(2,080,416)

Proceeds from disposal of acer truncatum bunge plants

2,084,706

Development cost of acer truncatum bunge planting

(184,358)

(1,215,128)

Net cash used in investing activities

(255,151)

(1,210,838)

Effect of exchange rate changes on cash and cash equivalents

(1,399,169)

240,841

Net increase in cash and cash equivalents

2,509,719

4,584,249

Cash and cash equivalents at beginning of period

25,353,360

10,308,622

Cash and cash equivalents at end of period

$

27,863,079

$

14,892,871

Supplemental disclosures of cash flow information:

Cash paid during the periods for:

Interest

$

$

Income taxes

$

1,053,618

$

1,389,829

View original content:http://www.prnewswire.com/news-releases/china-yct-international-group-reports-financial-results-for-the-fiscal-quarter-ended-june-30-2018-300696735.html

Source: China YCT International Group, Inc.

AXA Hong Kong launches first-in-market ‘AXA Diabetes & Three-Highs Management Programme’ To actively help improve health of customers

Only 30% of Hong Kong citizens[1] understand the symptoms of diabetes

Growing trend of youngsters diagnosed with Diabetes

HONG KONG, Aug. 15, 2018 /PRNewswire/ — Diabetes is one of the ten leading causes of death in Hong Kong[2] ;one out of ten people in Hong Kong is living with the disease, including more than 20% of patients who were diagnosed before they turned 40 years old[3], and more than a half of patients have undiagnosed diabetes[4]. AXA Hong Kong commissioned marketing research firm Nielsen to conduct an online survey with 1,010 interviewees aged from 18 to 54. The findings revealed that nearly 90% of respondents expressed that they are not diabetic patients and around 70% of respondents misunderstood the symptoms of diabetes.


Xavier Lestrade, Managing Director, Life Insurance, AXA Hong Kong (middle); Professor Juliana CHAN, Chair Professor of Medicine and Therapeutics at CUHK and Chairperson of GemVCare (left); and Kevin Chor, Chief Life Product and Proposition Officer, AXA Hong Kong (right), attended the kick-off for the “AXA Diabetes & Three-Highs Management Programme”.

Due to the fact that diabetes may lead to life-threatening consequences, Hong Kong citizens with a weak awareness of diabetes cannot be overlooked. According to data, patients with the ‘three-highs’ (high blood pressure, high cholesterol and high BMI) may have a higher risk of developing diabetes[5], and diabetes patients have twice the risk of developing liver cancer[6].

“The survey revealed that Hong Kong citizens do not fully understand diabetes, and underestimate the impact to health associated with diabetes and the ‘three highs’. According to an analysis of the data from Hospital Authority, the annual direct medical costs for diabetes treatment can exceed HKD$120,000[7]. As a lifelong health partner, AXA Hong Kong is committed to putting our customers at the forefront to enjoy a healthier life. Further to launching the innovative insurance initiative ‘BetterMe by AXA’ and the first ‘Quit Smoking Incentive’ programme, for our second series, we invited Asia Diabetes Foundation Limited and GemVCare, to co-launch the first-in-market ‘AXA Diabetes & Three-Highs Management Programme’. This programme combines personalised dietary advice, physical training and health education to manage clients’ year-long health conditions, and support them in the ‘Better Me’ programme to effectively reduce the risks and anxieties associated with diabetes and the ‘Three-Highs’,” said Xavier Lestrade, Managing Director, Life Insurance, AXA Hong Kong. 

AXA Hong Kong believes that protection is not just about insurance product, but a concept.  There are some customers who cannot be covered by insurance due to their living habits, or chronic illnesses.  As a long term partner of our customers, AXA Hong Kong has launched an innovative insurance initiative ‘BetterMe by AXA’ to provide flexibility to these customers, and encourage them along the health journey, so that they can be adequately covered.  ‘BetterMe by AXA’ covers three areas with breakthroughs in underwriting approaches, inclusiveness of protection and all-round health management, it aims to protect customers in every possible way whilst supporting them to live a healthier and better life.

The ‘AXA Diabetes & Three-Highs Management Programme’ is a new series from ‘BetterMe by AXA’. This programme is authorised by the Asia Diabetes Foundation Limited (JADE®), with service provided by GemVCare, founded by a team of CUHK researchers with support from Technology Start-up Support Scheme for Universities. It aims to provide personalised professional health guidelines, suggestions and support to our customers, including: –

  • Participation in the Joint Asia Diabetes Evaluation Programme (JADE®) – Through an all-round risk assessment service, customers may fully manage their health conditions and control diabetes in an effective way.
  • 15% Premium Rebate – Upon completion of the ‘AXA Diabetes & Three-Highs Management Programme’ and accumulation of specific points, participants can enjoy a one-off 15% Premium Rebate.
  • Nurse Consultation – A nurse will follow up the year-long health management programme to regularly assess the customer’s health condition.
  • Dietary Advice – A registered dietitian will provide personalised dietary advice and a meal plan.
  • Physical Training Advice – A certified physical trainer will provide physical training advice to maintain body health.
  • Health Education – Regular workshops and webinars cover various topics including diabetes care, daily exercises and dietary planning to reinforce health knowledge.

“Out of the 10% of diabetic patients in Hong Kong’s population, there are 2% to 6%[8] who will develop dangerous complications every year, including critical illness such as heart disease, kidney failure or stroke. This statistic raises public concern because of these complications which may lead to death. According to data from 2009 in Hong Kong, the youngest affected patient with type 2 diabetes was less than 9 years old[9] and the trend had increased 13-fold over a decade9. It reflects the trend of adolescent-onset diabetes. JADE® is designed and developed by Asia Diabetes Foundation Limited, and currently has 30,000 participants in Hong Kong. The programme combines nurse-coordinated risk stratification and a supporting medical team to establish treatment programmes. Upon reassessment after 12 to 24 months, 20% to 50% of patients have a reduction in the incidence of major critical illness and hospitalisations[10],” said Professor Juliana CHAN, Chair Professor of Medicine and Therapeutics at CUHK and Chairperson of GemVCare.

From 15 August 2018 to 24 December 2018, Diabetes & Three-Highs (high blood pressure, high cholesterol and high BMI) individuals, who successfully apply for the ‘CritiPartner Critical Illness Plan’ with a total annualised first-year premium of such basic plan and its supplement (if applicable) of HKD$12,000 or above (or its equivalent in foreign currency) will have a chance to join the ‘AXA Diabetes & Three-Highs Management Programme’.

For more information on the new ‘AXA Diabetes & Three-Highs Management Programme’, please visit AXA Hong Kong website for details.  

The above information is for reference only. For details of the product features, content, terms, conditions and exclusions, please refer to the relevant programme brochures.

ABOUT AXA HONG KONG

AXA Hong Kong, a member of the AXA Group, prides itself on serving over 1 million customers1 in Hong Kong and Macau. Besides being one of the largest health protection providers in Hong Kong, it is also the #1 General Insurance provider2 and the #1 insurance brand worldwide for the ninth consecutive year3.

AXA Hong Kong has a clear goal of ’empowering people to live a better life’. This is reflected in everything we do. AXA Hong Kong is one of the most diversified insurers providing full range coverage for individual and commercial customers. We offer all-round, integrated solutions across Life, Health and Property & Casualty to address all their insurance needs.

AXA Hong Kong leverages on Big Data and AI to transform the end-to-end customer experience, making insurance simpler and more personal. As an innovative insurer, we continue to drive innovation notably in health and protection, supporting customers in prevention, treatment and recovery.

We also believe it is our inherent responsibility to support the communities in which we operate. The AXA Foundation is our flagship corporate social responsibility programme covering all of our efforts in promoting health, education and community support to create a positive and lasting impact for Hong Kong.

1 Including customers of AXA China Region Insurance Company Limited, AXA China Region Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability), and AXA General Insurance Hong Kong Limited
2 Based on 2016 Insurance Authority market share statistics represented by overall gross premiums
3 Interbrand Best Global Brand 2017 (By brand value)

THIS PRESS RELEASE IS AVAILABLE ON AXA’S WEBSITE:  AXA.COM.HK

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and AXA’s plans and objectives to differ materially from those expressed or implied in the forward looking statements. Please refer to Part 4 – “Risk factors and risk management” of AXA’s Document de Référence (Annual Report) for the year ended December 31, 2016, for a description of certain important factors, risks and uncertainties that may affect AXA’s business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise.

FOR MORE INFORMATION:

AXA Hong Kong:      

Alice Li: 

+852.3702.2566

Jaffa Lo:  

+852.3702.2571

Connie Ng:  

+852.3702.2570

Photo – https://photos.prnasia.com/prnh/20180815/2212654-1

Kaneka officially starts continuous manufacturing under GMP

Commercial production utilizing flow chemistry began June 2018 at Kaneka Singapore

TOKYO, Aug. 14, 2018 /PRNewswire/ — Kaneka Corporation (Headquarters: Minato-ku, Tokyo; President: Mamoru Kadokura) have installed continuous manufacturing equipment to be applied to pharmaceutical products at Kaneka Singapore Co. (Pte.) Ltd, (Headquarters: Singapore; President: Kazuhiko Yamada) with commercial production under cGMP already underway as of June 2018.


Kaneka officially starts continuous manufacturing under GMP

In the field of small molecule pharmaceutical products, the recent demands have begun to  trend toward an increased number of more diversified and smaller volume targets. With these changes, more efficient production technology is needed to address the broad range of targets now required. Continuous manufacturing, or Flow Chemistry, is a manufacturing technology that allows the introduction  of raw materials with little to no operator exposure and presents an  easy, safe and convenient approach to manufacturing, including reactions that may require tough or dangerous conditions under typical batch reaction conditions. Our equipment is a unique, Kaneka designed reactor that allows diversity of application through the ability to select the relevant parameters of the reaction tubing based on laboratory and scale-up research providing the highest performance of reactions. Kaneka Singapore has been qualified as a manufacturer from the US FDA *1 in 2017, and we expect to apply this  continuous manufacturing infrastructure to various Regulatory Starting Material (RSM), Intermediate, and API projects, including targets requiring GMP *2 production.

Kaneka has capability from process development to commercial production with excellent quality assurance, and we now aim to expand our solution services in the Health Care business field utilizing this new technology. 

 *1 Abbreviated name of Food and Drug Administration. It is an agency within the Department of Health and Human Services in US and  has responsibility for regulating the manufacturing, marketing, and distribution of pharmaceutical products.
 *2 Abbreviated name of Good Manufacturing Practice, the recommended guidelines and minimum requirements to ensure that products are consistently high in quality.

< Kaneka Singapore Co. (Pte.) Ltd. >
Representative: CEO, Kazuhiko Yamada
Paid-in Capital: 16 million Singapore dollars
Headquarter: Singapore
Establishment: 1979
Business field: Sales and manufacturing of pharmaceutical products.

Contact:
Alan Walker
VP Pharma, Kaneka Americas Holding
(212) 705-4392

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TIENS Group opens new high-tech Experience Store in Shenzhen

SHENZHEN, China, Aug. 8, 2018 /PRNewswire/ — TIENS Group, one of leading corporations in the Healthcare industry, unveiled a new high-tech Customer Experience Store in Shenzhen. Li Jinyuan, founder and chairman of TIENS group, announced the official opening of its first store in the world on August 3 in Luohu District, Shenzhen. The store offers a unique customer experience through a combination of advanced technology and experiential marketing, allowing visitors to explore the world of TIENS Group and learn how the company’s products positively impact the lives of global consumers. The launch date was chosen to coincide with the company’s 23rd anniversary.


Two young fashion women pass by the Experiencing center

TIENS’ new interactive customer experience is part of the company’s “One Body, Multiple Wings” strategy for global expansion.  As a large multinational corporation, Li and TIENS recognized the need for their business to be more responsive to the market, consumers, and their needs. To meet this challenge, TIENS Group studied the latest trends in technology and consumer behavior. Their findings showed that many consumers prefer to learn about products through interactive experiences which formed the foundation for the TIENS Experience Store.

Visitors to the TIENS Experience Store are immersed in futuristic technology from the moment they enter. Guests can experience TIENS’ specialty health and lifestyle products through interactive methods such as touch-screen computers and live product demonstrations. TIENS Group simultaneously analyzes visitor behavior with facial recognition and big data analysis to develop specialized omnichannel sales and marketing strategies that meet their customers’ needs.

According to Zhang Zhongtao, president of TIENS Group for Greater China, this effort represents a culmination of more than two decades of persistent innovation. Said Zhang, “Under the guidance of our Chairman, Li Jinyuan, and our ‘One Body, Multiple Wings’ strategy, TIENS Group is creating a model for a better life and a better future.”

Peggy Liu (Liu Yu), head of global strategic planning and operations for TIENS Group, echoed Zhang’s sentiments. Said Liu, “Twenty-three years ago, TIENS set out from China on the path of innovation and brought our strategy of ‘One Body, Multiple Wings’ to countries worldwide. Now, we are bringing our philosophy directly to consumers with the creation of the TIENS Experience Store. For thousands of global consumers, the TIENS Experience Store marks the beginning of a new “Fusion Lifestyle Era,” where technology works for the betterment of our lives.” 

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I-Mab’s Announces China Clinical Trial Approval of Long-acting hGLP-1 to Treat Type 2 Diabetes

SHANGHAI, Aug. 9, 2018 /PRNewswire/ — In July, 2018, I-Mab Biopharma (I-Mab) announced that it received clinical trial approval from China National Drug Administration (CNDA) for TJ103 (TG103) injection: an innovative, humanized, long-acting recombinant glucagon-like peptide-1 (hGLP-1) fused with a hybrid Fc (hyFc) for type 2 diabetes treatment

Type 2 diabetes is a common chronic disease characterized by high blood glucose. According to Frost & Sullivan’s data for 2017, there are estimated 120 million people with type 2 diabetes in China. However, only 44% of patients are receiving treatment, and many patients have insufficient blood glucose control; therefore, this chronic disorder has reached a pandemic level and unmet medical needs remain substantial.

Many of the anti-diabetic drugs on the markets are liable for hypoglycemia which is a significant safety concern. Thanks to its low risk of hypoglycemia, GLP-1 analog is an important class of anti-diabetic drug. However, currently no long-acting GLP-1 agonists have been approved in China yet, and the short-acting GLP-1 products on the market need to be injected once or twice daily.

TJ103 promotes glucose concentration dependent insulin secretion and inhibits glucagon production in the body without causing the risk of hypoglycemia. It is also designed molecularly with extended half-life to enable once-weekly or bi-weekly subcutaneous administration, which can significantly improve convenience and as a result to improve patient treatment compliance. In preclinical studies, and the on-going Phase I trial conducted in Germany, TJ103 demonstrated a good safety profile.

I-Mab Biopharma plans to conduct clinical trials in China to comprehensively assess the safety and efficacy of TJ103, as well as exploring the treatment compliance, the quality of life and other potentials, in hopes of bringing the innovative drug to patients with type 2 diabetes in China, which can significantly improve the treatment effect and quality of life of the patients.

About I-Mab

Facilitated by a merger between Third Venture Biotech and Tasgen Bio, followed by a Series B financing of US$150 million in 2017, I-Mab has rapidly built a highly experienced team with world-class R&D capabilities. On June 29, 2018, I-Mab announced that it had successfully raised US$220 million in Series C financing with a group of reputable investors led by Hony Capital, one of the largest amounts ever raised in Series C by an innovative biotech company in China.

I-Mab focuses on discovery and development of First-in-Class and Best-in-Class biologics in the areas of immuno-oncology and immuno-inflammation. The company has already initiated a Phase 2 clinical trial and is prepared to submit multiple IND applications for additional trials in China and in the US, including Phase 2 and Phase 3 studies.

www.i-mabbiopharma.com

Contact: IR@i-mabbiopharma.com, PR@i-mabbiopharma.com

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Shineco, Inc. Announces Apocynum Fiber and Comprehensive Utilization Industry Park Project Included in Official 13th Five-Year Plan of Bayingolin Mongol Autonomous Prefecture

BEIJING, Aug. 9, 2018 /PRNewswire/ — Shineco, Inc. (“Shineco” or the “Company”) (NASDAQ: TYHT), a manufacturer and distributor of Chinese herbal medicines, organic agricultural products, specialized textiles, and other health and well-being focused plant-based products in China, announced today its Apocynum Fiber and Comprehensive Utilization Industry Park Project (the “Project”) has been included in the official 13th Five-Year Plan of Bayingolin Mongol (“Bazhou”) Autonomous Prefecture. The Project is operated by the Company’s joint venture company, Xinjiang Shineco Taihe Agriculture Technology Ltd. (“Xinjiang Taihe”).

The 13th Five Year Plan describes the strategy for Bazhou’s development for 2016-2020 in the Korla National Economic and Technological Development Zone in Xinjiang and includes concrete targets regarding the environment and efficiency. As a key project of the 13th Five-Year Plan for Bazhou, the Company is expected to invest in the industrialization of Apocynum through its wholly owned subsidiary Shineco Beijing Technology Development Co., Ltd. The initial investment in the Project was approximately RMB1.1 billion and the second phase of investment is expected to be more than RMB4 billion. The Project includes the following, an Apocynum fiber comprehensive extraction plant, a hemp blended fiber plant, an apparel manufacturing plant, a biopharmaceutical plant, a health food factory, a research and innovation center as well as an e-commerce center. The Project is designed to optimize the agricultural industrial structure and industrial development in Bazhou and is expected to make great impact on the local society and the local economy.  

Xinjiang is located in the heart of Eurasia and is a core region of the “One Belt and One Road” infrastructure plan. Within Xinjiang, Bazhou has a good industrial foundation in cotton spinning, weaving and dyeing, and pharmaceuticals. Bazhou’s infrastructure is conducive to the expansion of Apocynum blending, biotechnology and other industries. The Project combines the strengths of Apocynum products with the geographic advantages of Xinjiang, to stabilize the supply chain, and establish more effective distribution and marketing channels to promote the development of Xinjiang’s regional economy and drive the rapid development of the local economy.

Mr. Yuying Zhang, Chairman and Chief Executive Officer of Shineco, stated, “After the signing of the cooperation agreement with the Development Zone Management Committee on November 15, 2017, our ‘Apocynum Fiber and Comprehensive Utilization Industrial Park’ project has progressed rapidly. In March 2018, it was approved by the Economic Development Bureau of the Development Zone. In April, the project was listed by the State of Bazhou as a ’13th Five-Year Plan’ development project. We are excited that our project was included in the local ’13th Five Year Plan’ project by the State of Bazhou and was referred to the provincial government for the Xinjiang Autonomous Region’s ’13th Five-Year Plan’ project. This is very rare in non-state-owned investment projects and demonstrates the importance of the Apocynum industry for local economic development.”

Mr. Zhang continued, “With the strong support and cooperation of local governments in Bazhou, we believe that the development of the Project will be swift. Shineco plans to take on the mission and responsibility of societal development and contribute to the ‘One Belt and One Road’ infrastructure plan. Upon the completion of the Project, we estimate the revenue to reach RMB51.4 billion with a projected investment return at as high as 183.6%.”

About Shineco, Inc.

Incorporated in August 1997 and headquartered in Beijing, China, Shineco, Inc. (“Shineco” or the “Company”) is a Delaware holding company that uses its subsidiaries’ and variable interest entities’ vertically- and horizontally-integrated production, distribution and sales channels to provide health and well-being focused plant-based products in China. Utilizing modern engineering technologies and biotechnologies, Shineco produces, among other products, Chinese herbal medicines, organic agricultural produce and specialized textiles. For more information about the Company, please visit  www.tianyiluobuma.com.

Forward-Looking Statements

This press release contains information about Shineco’s view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Shineco encourages you to review other factors that may affect its future results in Shineco’s registration statement and in its other filings with the Securities and Exchange Commission.

For more information, please contact:

Tina Xiao
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com

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NCCN Publishes First-Ever U.S. Guidelines for Rare Cancers Associated with Pregnancy

New NCCN Guidelines for gestational trophoblastic neoplasia created to ensure pregnant women with cancer receive life-saving treatment while preserving fertility.

FORT WASHINGTON, Pennsylvania, Aug. 9, 2018 /PRNewswire/ — The National Comprehensive Cancer Network® (NCCN®) has released new treatment guidelines for a group of rare cancers that impact women during pregnancy. Gestational trophoblastic neoplasia (GTN), also known as gestational trophoblastic disease (GTD), can occur when tumors develop in the cells that would normally form the placenta during pregnancy. It happens in approximately one out of every 1,000 pregnancies in the United States, though it is more common in many Asian and African countries. Due to the rare nature of this condition, and the small number of specialists worldwide, providers often are not aware of how to provide the best care for people with GTN.

“These guidelines are sorely needed,” explained David Mutch, MD, Siteman Cancer Center at Barnes-Jewish Hospital and Washington University School of Medicine, who leads the NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines®) Committee for GTN. “By compiling expert consensus, we can standardize the way this uncommon disease is treated. When treated properly, GTN can almost always be cured, but deviating from that standard can have severe consequences. Plus, by providing clear instructions for how best to treat GTN, we can streamline the insurance approval process for more efficient care.”

The NCCN Guidelines® for GTN details treatments for several variations of the disease. For molar pregnancy (also known as a hydatiform mole, a rare mass that can form inside the womb during early pregnancy, resulting in an abnormal fetus), surgery is the first, and often only treatment required. It is generally performed via suction dilation and curettage. Low-risk GTN is primarily treated with single-agent chemotherapy, although additional chemotherapy or surgery may be required for persistent disease. With high-risk GTN, treatment typically involves multi-agent chemotherapy, with possible radiation therapy for brain metastasis. Surgery can be used for chemotherapy-resistant disease.

Dr. Mutch was joined on the GTN Committee by John Lurain, III, MD, Robert H. Lurie Comprehensive Cancer Center of Northwestern University and R. Kevin Reynolds, MD, University of Michigan Rogel Cancer Center. The committee is a subset of the larger NCCN Guidelines Panel for Cervical, Uterine, and Vulvar Cancers, of which all three are members.

“We’re fortunate to have several recognized experts in GTN on our panel,” said Wui-Jin Koh, MD, Seattle Cancer Care Alliance, Chair of the NCCN Guidelines Panel for Cervical, Uterine, and Vulvar Cancers, and incoming Chief Medical Officer for NCCN. “These rare, potentially aggressive malignancies are highly curable. That’s why it’s so important to correctly diagnose, treat, and monitor people with GTN. When patients are appropriately managed — as described in these standardized guidelines — not only do they generally achieve excellent long-term outcomes, but fertility can also be preserved for the majority of patients.”

“If someone with a rare type of cancer doesn’t live near one of the world’s experts on that disease, it doesn’t mean their treatment path can’t be based on that expertise,” said Robert W. Carlson, MD, Chief Executive Officer, NCCN. “NCCN Guidelines provide care recommendations for 97 percent of all cancer patients, plus numerous additional recommendations covering screening, prevention, and supportive care. We have plans to add several more new guidelines in the next year, to build out our library of NCCN Harmonized Guidelines for regions with different resource levels, and to publish more translations for non-English speaking clinicians. We know that people with cancer all over the world are relying on NCCN Guidelines to make sure they get the best possible care for their cancer.”

The NCCN Guidelines for GTN bring the total number of NCCN Guidelines to 72. They are available free-of-charge online at NCCN.org or via the Virtual Library of NCCN Guidelines mobile app for smartphones and tablets. NCCN Guidelines are the most frequently-updated medical guidelines in the world, with new versions released at least once a year, and more often as needed. These evidence and expert consensus-based guidelines are downloaded millions of times a year by oncologists and other clinicians worldwide.

About the National Comprehensive Cancer Network
The National Comprehensive Cancer Network® (NCCN®), a not-for-profit alliance of 27 leading cancer centers devoted to patient care, research, and education, is dedicated to improving the quality, effectiveness, and efficiency of cancer care so that patients can live better lives. Through the leadership and expertise of clinical professionals at NCCN Member Institutions, NCCN develops resources that present valuable information to the numerous stakeholders in the health care delivery system. As the arbiter of high-quality cancer care, NCCN promotes the importance of continuous quality improvement and recognizes the significance of creating clinical practice guidelines appropriate for use by patients, clinicians, and other health care decision-makers.

The NCCN Member Institutions are: Fred & Pamela Buffett Cancer Center, Omaha, NE; Case Comprehensive Cancer Center/University Hospitals Seidman Cancer Center and Cleveland Clinic Taussig Cancer Institute, Cleveland, OH; City of Hope National Medical Center, Duarte, CA; Dana-Farber/Brigham and Women’s Cancer Center | Massachusetts General Hospital Cancer Center, Boston, MA; Duke Cancer Institute, Durham, NC; Fox Chase Cancer Center, Philadelphia, PA; Huntsman Cancer Institute at the University of Utah, Salt Lake City, UT; Fred Hutchinson Cancer Research Center/Seattle Cancer Care Alliance, Seattle, WA; The Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins, Baltimore, MD; Robert H. Lurie Comprehensive Cancer Center of Northwestern University, Chicago, IL; Mayo Clinic Cancer Center, Phoenix/Scottsdale, AZ, Jacksonville, FL, and Rochester, MN; Memorial Sloan Kettering Cancer Center, New York, NY; Moffitt Cancer Center, Tampa, FL; The Ohio State University Comprehensive Cancer Center – James Cancer Hospital and Solove Research Institute, Columbus, OH; Roswell Park Comprehensive Cancer Center, Buffalo, NY; Siteman Cancer Center at Barnes-Jewish Hospital and Washington University School of Medicine, St. Louis, MO; St. Jude Children’s Research Hospital/The University of Tennessee Health Science Center, Memphis, TN; Stanford Cancer Institute, Stanford, CA; University of Alabama at Birmingham Comprehensive Cancer Center, Birmingham, AL; UC San Diego Moores Cancer Center, La Jolla, CA; UCSF Helen Diller Family Comprehensive Cancer Center, San Francisco, CA; University of Colorado Cancer Center, Aurora, CO; University of Michigan Rogel Cancer Center, Ann Arbor, MI; The University of Texas MD Anderson Cancer Center, Houston, TX; University of Wisconsin Carbone Cancer Center, Madison, WI; Vanderbilt-Ingram Cancer Center, Nashville, TN; and Yale Cancer Center/Smilow Cancer Hospital, New Haven, CT.

Clinicians, visit NCCN.org. Patients and caregivers, visit NCCN.org/patients. Media, visit NCCN.org/news. Follow NCCN on Twitter @NCCNnews and Facebook @National.Comprehensive.Cancer.Network.

Media Contact:
Rachel Darwin
267-622-6624
darwin@nccn.org

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Sneakz Organic Achieves Organic Certification In China For New Category Of Vegetable-Infused Milk Drinks

First American Company Shipping Veggie-Infused Milk Drinks Into China With ‘Organic’ Clearly Stated On Packaging In Compliance To Chinese Regulations

JUPITER, Florida, Aug. 10, 2018 /PRNewswire/ — Sneakz Organic LLC, makers of the award-winning line of vegetable-infused milkshakes, is proud to announce that is has achieved what many thought was impossible: Obtaining the prized China Organic Certification. Different from the U.S. classification of what makes a product organic, the PRC (People’s Republic of China) lists the ingredients that you can use, as opposed to what you cannot use; so if an ingredient is not included on the list prior, the company must work to adjust its formula or work to get the ingredient approved before they can receive the certification. As such and in just 22 months, Sneakz Organic was able to create a brand new category of product and add two of its ingredients to the approved list in order to receive this esteemed certification.


Sneakz Organic Achieves Organic Certification in China for New Category of Vegetable-Infused Milkshakes

Sneakz Organic Milkshakes are made with a propriety blend of USA-certified organic vegetables and other nutrients such as high protein to help kids get their daily serving of veggies in a “good for you, fun for you” way. The flavorful shakes are shelf-stable and delivered in a convenient on-the-go style packaging so that families can enjoy them anytime, anywhere. Sneakz currently offers three flavors; chocolate, strawberry and vanilla.

“The time has finally come.  It’s been an incredible 22 months to get us to where we are today and being one of few to achieve organic certification in China we’re extremely pleased with the accomplishment.  From day one we had a clear ‘no debate’ mindset entering into this journey, where we were heart set against removing the word ‘organic’ from our packaging for the Chinese market,” says Jim Costa, principal at Sneakz Organic LLC. “Our milkshakes met all the criteria by every definition, whether it was the formulation, ingredients, process, milk supply, manufacturing, warehousing, etc.”

This certification carries much meaning for the Sneakz team. As they continue to expand their presence in the U.S. market and grow the brand offerings, the young company also is hoping to extend its international footprint. While the U.S. continues as Sneakz Organic’s core market, there is significant opportunity in regions with growing nutritional needs, especially for children in Asian markets with extreme milk deficits. Leveraging the enhanced productivity and output of U.S. dairy – specifically the quality and price advantage – Sneakz is hoping to support these struggling countries and bring its veggie-infused milkshake-style beverages to as many kids and families as possible.

In addition to Sneakz Organic Milkshakes, the company currently offers a non-dairy, vegan protein drink mix that also features a half-serving of the organic vegetable blend, high protein content and GanedenBC30 probiotics. Sneakz will introduce a new meal replacement powder mix in the fall of 2018 as well.

“We are very focused on delivering quality products that are healthy, good tasting and put smiles on kids’ faces,” says Jeff Robbins, CEO of Sneakz Organic LLC. “Both Jim and I have been in business a long time, but at the end of the day, our biggest joy is seeing a mom give her little ones a Sneakz Organic Milkshakes and seeing them light up with excitement. Knowing that it not only makes kids happier, but also healthier, makes all the difference. We hope to continue growing the brand and helping to make the world a little better than it was when we first entered it.”

Sneakz Organic LLC will begin shipping its vegetable-infused milkshakes to the Chinese market in September 2018. To learn more about Sneakz Organic LLC, visit www.sneakz.com.

PRESS CONTACT:

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Plug and Play China Officially Enters Health & Wellness Industry at the 2018 Plug and Play China Summer Summit – Sino-U.S. Health & Wellness Summit

BEIJING, Aug. 10, 2018 /PRNewswire/ — With the expansion of healthcare reform and the increase in consumption, China’s medical health services have guided multi-dimensional innovation and advancement. It is estimated that by 2030, the scale of China’s health service industry will reach 16 trillion. The health & wellness market has called for cross-regional modernization and accelerated expansion of the industry circle.

On June 27, 2018, representatives from more than a dozen well-known health & wellness corporations, medical institutions, hospitals, VC and start-up companies around the world gathered in Shanghai to participate in the 2018 Plug and Play China Summer Summit – Sino-U.S. Health & Wellness Summit. It was hosted jointly by Plug and Play with Deloitte China and Fosun Technology Innovation Center to discuss the frontiers of investment and technological innovation in the healthcare industry. The summit also received support from the Shanghai Biomedicine Technology Industry Promotion Center and Shanghai Pudong International Chamber of Commerce.

A group full of talents

Dozens of “superstars” in the health & wellness industry gathered at the Sino-US Health & Wellness Summit, including:

  • Deloitte China
  • Fosun Pharma
  • Philips Healthcare Innovation Centre
  • Johnson & Johnson China
  • Medlmmune
  • Green Leaf Group
  • Pfizer
  • Shanghai Second Military Region University
  • Changzheng Hospital
  • Yueyin Capital
  • 3E Bioventures Capital
  • SBCVC
  • K2VC
  • Feifan Capital
  • Fudan University
  • Xi’an Jiaotong-Liverpool University
  • Shanghai Huangpu District Government
  • Shanghai Center of Biomedicine Development
  • United Nations Industrial Development Organization (Shanghai)
  • Shanghai Pudong International Chamber of Commerce.

As seen by many industry leaders, Plug and Play China kicked off the Health & Wellness summit opening ceremony by formally announcing the introduction of original businesses in the health & wellness verticals of China and further expanding upon its innovative eco-environment layout.

Peter Xu, president and managing partner of Plug and Play China, stated, “China’s economic development, aging status, and government’s promotion all provide developmental soil for the healthcare industry. Many companies from overseas want to enter China, and domestic health care companies are actively seeking targets for overseas import, investment, mergers and acquisitions. Plug and Play have been deeply involved in Silicon Valley for so many years that they have a precise understanding of healthcare technology. It is the right time for us to build such a bridge connecting China and the world.”

According to Julia Belaya, Director of Health and Wellness at Plug and Play Silicon Valley, Plug and Play’s global healthcare innovation platform was established in 2016. After only two years of development, it has entered partnerships with more than 20 well-known health & wellness companies worldwide. In 2017, Plug and Play invested in more than 30 health and medical technology innovation projects.  Presently, the Health & Wellness vertical has come to China to help industry-related companies around the world to succeed in China. Rahim Amidi, CEO and founder of PNP, and Dr. Xiaochun Chen, PNP China Co-founder, also attended the summit.

Deloitte China has been in close collaboration with Plug and Play for a long time. We believe that by combining the experience and insights of both parties, it can help set a new trend for the industry and the direction of innovation development, as well as to build connections amongst large companies and start-ups that contribute to a revolutionary innovative ecosystem.” Yu Chao, the managing partner of Deloitte China Life Sciences and Medical Industry Management Consulting, also attended the event and discussed the “application of artificial intelligence in health & wellness fields.” The keynote speech pointed out that “the development of artificial intelligence is gradually infiltrating into products and services in various industries, but data and application have become the bottleneck of current AI development, and the maturity of the underlying technology still needs huge improvement.”

Shen Yun, Assistant President of Fosun and Executive Director of Fosun Technology Innovation Center, said at the summit, “Fosun is committed to promoting the application of advanced science and technology for the health, happiness and prosperity in families around the world, while providing solutions for the satisfaction of families. In the near future, combining Fosun’s industrial connections and the global science and technology acceleration platform of Plug and Play. Fosun Technology Innovation Center will strategically cooperate with Plug and Play, especially in the field of health.” Xu Zhe, Vice President and General Manager of Strategy Department of Fosun Health Holdings, also attended the event and shared thoughts on the theme of “Fosun Medical Health Investment”.

In the future, Plug and Play China will cooperate with Deloitte China and Fosun Technology Innovation Center to boost the development of China’s health industry.  Plug and Play China continues to connect corporates and startups from different industries as a leading accelerator for unicorns.

Plug and Play China: Embracing Open Innovation

The health & wellness industry is a microcosm of the current state of innovation in China. With the development of digital advancements and the integration of cutting-edge technologies such as artificial intelligence, Internet of Things, big data, blockchain, and traditional industries has broadened significantly. Moreover, the definition of boundaries in the industries are changing; more and more cross-border innovations are taking place. Plug and Play China is committed to accelerating this type of innovation.

Plug and Play puts forward the concept of “Innovation, Entrepreneurship and Venture”. In other words, the “Innovation” of large enterprises, the “Entrepreneurship” of entrepreneurial teams and the “Venture” of capital, which together form a solid “triangle” of a virtuous innovative ecosystem. At Plug and Play, cross-industry and cross-field enterprises are matched based on actual application scenarios and technical needs. The entrepreneurial teams can also directly interact with CEOs and CTOs of corporations in depth and simultaneously explore the possibility of technology landing in the unique Unicorn Accelerator.

Based on this “triangulation law,” Plug and Play is committed to maximizing the value in innovation and promoting the revolution and advancement of the industry. Just like Peter Xu said, “Ecology boosts innovation; innovation beautifies ecology.”

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JHL Biotech Receives Positive CHMP Scientific Advice for Global Phase III Clinical Trial of Proposed Bevacizumab Biosimilar to Treat Lung Cancer

HSINCHU, Taiwan and WUHAN, China, Aug. 10, 2018 /PRNewswire/ — JHL Biotech has announced it received a positive Scientific Advice from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) related to the EU approval pathway for its proposed bevacizumab biosimilar, JHL1149 to treat patients with non-small cell lung cancer (NSCLC).

The EMA, like other regulatory authorities such as the U.S. Food and Drug Administration and State Drug Administration of China (SDA), adopts the principle of a step-wise approach and the totality of the evidence from all studies in regulating the development and approval of biosimilars. In its correspondence to JHL, the EMA confirmed it agrees with JHL’s development approach, clinical development proposal, and study design of the global Phase III clinical study for JHL1149 in patients with non-small cell lung cancer (NSCLC). Based on the EMA’s review of these factors, the results of the Phase III clinical study will be acceptable for the submission of a Marketing Authorization Application as a biosimilar product, assuming the Phase III trial is completed successfully.

About JHL Biotech
JHL Biotech, Inc. is a biopharmaceutical company founded by a group of industry veterans with deep experience in biologics development and operations. With a mission to provide the world with affordable medicines of exceptional quality, the company is focused on research and development of new protein-based therapies and biosimilars. JHL Biotech’s experienced leadership team, ongoing global clinical trials for its pipeline of biosimilar candidates and two Asia-based world-class biologics manufacturing facilities built in accordance with United States, European Union, and ICH cGMP regulations and standards uniquely position the company to be a leading global supplier of high quality biologics. JHL Biotech is backed by premier financial firms, including Kleiner Perkins Caufield & Byers, Sequoia Capital, Biomark Capital, Milestone Capital, Fidelity and the China Development Industrial Bank. For more information, please visit www.jhlbiotech.com.

Media Contact
Jill Liu | Email: jliu@jhlbiotech.com | Phone: +86-27-87879208
Amber Chen | Email: achen@jhlbiotech.com | Phone: +886 3-658-3899
Lee Henely | Email: lhenely@jhlbiotech.com | Phone: +886 3-658-3899

Forward-Looking Statement
This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similar expressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, and speak only as of the date they are made. JHL undertakes no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond the control of either company. Actual results or outcomes may differ materially from those implied by the forward-looking statements.

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