China-Euro Stock Connect Launch to a Flying Start, Gotion High-Tech GDR is officially listed on the SIX Swiss Exchange

At 9:00 p.m. on July 28, Beijing time and 3:00 p.m. on July 28, Swiss time, Gotion High-Tech’s GDRs were successfully listed on the SIX Swiss Exchange with the sound of six crisp bells. The Chinese Ambassador to Switzerland, Wang Shiting, Swiss SIX Group Executive Board of Directors and head of the Global Exchange Tom Zeeb, and deputy general manager of the Shenzhen Stock Exchange, Tang Rui, delivered a speech and witnessed.
On 7.28, the listing ceremony of the first batch of GDRs for the China-Switzerland Stock Connect was held simultaneously on the SIX Swiss Exchange, the Shenzhen Stock Exchange and the Shanghai Stock Exchange. The listed companies by issuing GDRs at the SIX Swiss Exchang include Gotion High-Tech, GEM, Shanshan and Keda Manufacturing. Among them, Gotion High-Tech is the company with the largest GDR basic issuance scale at the Swiss Stock Exchange since the implementation of the China-Euro Connect and is the only Chinese company providing new energy solutions including electric vehicle (EV) batteries and energy storage systems (ESS) batteries that have been successfully listed in Switzerland so far. Mr. CAI Yi, Senior Vice President of Gotion High-Tech and President of ITRI, and Mr. WANG Qisui, President of China Business Section, delivered speeches on behalf of the Company at the SSE and SZSE respectively.

Mr. CAI Yi stated in his full English speech that the successful listing of Gotion High-Tech’s GDRs is a milestone in the Company’s internationalization process. We will continue to expand our production capacity around the world, continue to invest in research and development to ensure our leading position in battery technology, continue to maximize shareholder value, continue to contribute to society and support the families of our employees around the world.

In his speech, Mr. WANG Qisui said that the development of Gotion High-Tech is inseparable from the support of the government, the progress of Gotion High-Tech is inseparable from the opportunities of the industry, the growth of Gotion High-Tech is inseparable from its own efforts, and the future of Gotion High-Tech is inseparable from its compliance with international rules. “The successful issuance of our GDRs represents the recognition of the industry by domestic and foreign investors, and the recognition of Gotion High-tech not only shows the determination of the Chinese government to support the development of the new energy industry but also shows the confidence of Chinese enterprises to enter the international markets. It refreshes the world’s understanding of the energy revolution.”

According to information from the Shenzhen Stock Exchange, with the approval of the China Securities Regulatory Commission, Gotion High-Tech has been listed at the Swiss Stock Exchange on July 28. It is the project with the largest issuance scale and the smallest discount among the first batch of Swiss GDR issuance projects. The number of Gotion High-Tech’s GDRs placed amounted to 22,833,400 shares, accounting for 6.4% of the total equity interest after the issuance of GDRs; the offer price was US$30.00 (the offer price represented a discount of 3.5% on the previous closing price), and the gross proceeds of the GDRs were about US$685 million. After the listing of Gotion High-Tech’s GDRs, the market performance was stable. On the first day of listing, the closing price was US$30, which was the same as the offer price.






Topic: Press release summary

Sectors: Alternative Energy


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From the Asia Corporate News Network

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Eastvantage Wins Gold Stevie Award in 2022 International Business Awards®


The International Business Awards® are the world’s premier business awards program. All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small – are eligible to submit nominations. The 2022 IBAs received entries from organizations in 67 nations and territories. More than 3,700 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories.



Stevie Award winners were determined by the average scores of more than 300 executives worldwide who participated in the judging process in June and July. Eastvantage’s impressive 12% revenue growth amidst the pandemic, brought about by its #everybodysells campaign and 360°+ business development cycle strategy, received commendations from the judges. The company’s 70+% increase in accounts portfolio and headcount in 2021 earned for the company the highest earnings in its 11 years of operations.



“We are honored by this recognition. We are very proud of what the Eastvantage team has achieved together in the past year. The growth is expected to continue, as we are bent on seizing opportunities by continually evolving in line with market demand,” said Joeri Timp, Managing Director of Eastvantage.



“The higher focus on complex and digital services is expected to contribute high value to the business. Our direction is to further expand globally and be the IT Managed Services partner of choice,” shared Kamal Asarpota, CEO of Eastvantage. “With a stronger team aligned with our goals, we are positive of continued growth,” he added. Already, the company has opened up additional delivery centers in the Philippines, India, and Bulgaria. It has also recently engaged a US-based Business Strategy Advisor for its diversification in North America.



Timp and Asarpota are expected to join other winners at a gala banquet to be held at the InterContinental London Park Lane Hotel, in London, England, on Saturday, October 15. It will be the first live IBA awards ceremony since 2019.



“We’re thrilled that we’re able to return to celebrating Stevie winners in person this year,” said Stevie Awards president Maggie Miller. “This year’s class of honorees are as innovative, adventuresome, persistent, and successful as we’ve ever had. We look forward to celebrating their achievements with them during our 15 October awards banquet in London.”



About Eastvantage


Eastvantage provides business solutions to global companies, enabling offshore operations from its locations in the Philippines, India and Bulgaria. The management team of Eastvantage brings a wealth of global insights and local knowledge in the areas of digital transformation, customer experience, and business support. Combining expertise with a hands-on approach to managing client relationships, Eastvantage makes outsourcing simple and seamless. Find out more about our flexible solutions at www.eastvantage.com.



About the Stevie Awards


Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 nominations each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at www.StevieAwards.com.

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Ascott Residence Trust to acquire S$318.3 mil of assets in Australia, France, Japan, USA and Vietnam to strengthen presence in key markets


The acquisition is expected to strengthen ART’s presence in its existing markets. The assets are predominantly located in Asia-Pacific with seven of the assets in Australia, Japan and Vietnam, and two in France and the USA. The acquisition of the nine properties with a total of 1,018 units will grow ART’s total assets to S$8.3 billion as of 31 December 2021 on a pro forma basis, further consolidating ART’s position as Asia-Pacific’s largest hospitality trust. Post-acquisition, ART’s portfolio will exceed 100 properties, with over 18,000 units across 47 cities and 15 countries.



The acquisition will enhance ART’s income resilience as 92% of the nine assets’ gross profit are from stable income sources. It will further increase ART’s total proportion of stable income from 69% to 71% of its gross profit. ART is acquiring three serviced residences – Quest Cannon Hill in Brisbane, Australia and La Clef Tour Eiffel Paris in France that are on master leases; and Somerset Central TD Hai Phong City in Hai Phong, Vietnam which caters mainly to corporate guests and has an average length of stay of about 11 months. The five rental housing properties in Japan have typical lease tenures of about two years. They are in Kyoto, Osaka, Hyogo and Nagoya. The acquisition will expand ART’s footprint to Hai Phong, Hyogo and Nagoya, further diversifying its portfolio.



In South Carolina, USA, ART is doubling its stake in Standard at Columbia, acquiring an additional 45% stake in the student accommodation property. Student accommodation properties typically have an average length of stay of about one year. Standard at Columbia is expected to perform well given its prime location and growing student population. ART’s portfolio of operating student accommodation properties in the USA have achieved a strong occupancy rate of over 95%. Currently under development, Standard at Columbia is slated for completion in 2Q 2023. For more information about the nine assets, please refer to Annex.



Ms Serena Teo, Chief Executive Officer of Ascott Residence Trust Management Limited and Ascott Business Trust Management Pte. Ltd. (the Managers of ART) said: “We are proposing to acquire nine quality assets that will increase ART’s stable income and further strengthen the resilience of our portfolio, demonstrating our focus to deliver long-term value for our Stapled Securityholders. The acquisition will enhance our geographically diverse portfolio while deepening our presence in our key markets of Australia, France, Japan, USA and Vietnam. The addition of the five rental housing properties in Japan and a student accommodation property in the USA will increase the proportion of our longer-stay portfolio from 17% to 19% of ART’s total portfolio value. This will bring us closer to our target of 25% – 30% for longer-stay assets in the medium term. The acquisition is also set to boost ART’s proportion of green-certified properties, reinforcing our focus on sustainability. ART continues to seek yield-accretive investments while remaining committed to sustainability and taking a disciplined approach in managing our capital and costs.”



The transaction is expected to be completed by November 2022, subject to Stapled Securityholders’ approval at an Extraordinary General Meeting to be held on 9 September 2022. The acquisition is to be funded by debt and/or proceeds from a private placement. Post-acquisition, ART will have a gearing of 38.5% which is well below the 45% gearing threshold set by the Monetary Authority of Singapore. ART remains in a strong financial position to continue to make yield-accretive acquisitions. With ART’s longer-stay portfolio comprising 19% of its total portfolio value and the strength of its balance sheet, ART is also resilient against any potential economic volatility.



Well-positioned to benefit from recovery in global travel


The three serviced residences to be acquired are located in key gateway cities and growth markets. The luxurious La Clef Tour Eiffel Paris has an average daily rate that is more than 30% higher compared to pre-COVID-19 level. The serviced residence has an occupancy rate of about 80%, which is above pre-COVID-19 occupancy. Its performance is expected to pick-up as Paris’ tourism market fully recovers by 2023 and as the city hosts the 2024 Summer Olympic Games.



Quest Cannon Hill’s occupancy rate is about 95%, exceeding its pre-COVID-19 performance. Its occupancy is expected to remain robust as Brisbane continues to develop and upgrade its infrastructure to attract more domestic and international arrivals. Similarly, Somerset Central TD Hai Phong City is well-positioned for further growth as Hai Phong, Vietnam’s third largest city, continues its trajectory of economic development as an industrial hub. In 2021, Hai Phong surpassed Ho Chi Minh City and Hanoi as the top foreign direct investment destination in Vietnam with a registered capital of more than US$5.26 billion, nearly 3.5 times compared to 2020. Somerset Central TD Hai Phong City has an occupancy rate of over 90%, which is in line with its pre-COVID-19 level. The serviced residence’s historical EBITDA yield pre-COVID-19 is about 9.7%.



Greening ART’s portfolio


The acquired properties will increase the proportion of ART’s green-certified properties from approximately 35% to 38% of its global portfolio by square metre. Quest Cannon Hill, La Clef Tour Eiffel Paris, Somerset Central TD Hai Phong City and Standard at Columbia are expected to be green-certified before the end of 2023. They will contribute to ART’s sustainability targets of greening 50% of its global portfolio by 2025 and 100% of its global portfolio by 2030.

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Vetrano Attorneys Named 2022 Top Lawyers by Main Line Today


Main Line Today is a regional magazine for the Main Line suburbs of Philadelphia, covering various topics of local concern. The magazine publishes an annual Top Lawyers list, recognizing exemplary attorneys practicing in Chester, Delaware, and Montgomery Counties. The final list of Top Lawyer award winners is decided through a process involving nomination by peers, vetting by Main Line Today editorial staff, and a vote. Main Line Today will honor all of the winners at their annual Top Lawyers reception on August 24th.



Kathleen Vetrano, Esq. has provided legal guidance to Main Line residents since 1981 and advocates for collaborative divorce. Ms. Vetrano has a family-centric philosophy that has nurtured harmony for many of her clients during divorce and child custody proceedings. Ms. Vetrano is a Fellow of the American Academy of Matrimonial Lawyers and has served in many roles, including past president and founding member of the Doris Jonas Freed American Inn of Court for family law. Ms. Vetrano’s selection as one of the 2022 Top Lawyers marks the sixth time she has been honored as a Top Lawyer by Main Line Today.



Sarinia Feinman, Esq. is a partner with Vetrano | Vetrano & Feinman and has chosen to limit her practice to family law. Ms. Feinman helps clients in the areas of divorce, custody, child, and spousal support. She has a particular interest in the rights of special needs children and addiction issues, as well as other children’s rights issues. Ms. Feinman has served in many leadership roles for the Montgomery Bar Association, and is currently serving as President. 2022 is the fifth year that she has received the Top Lawyers recognition.



Lindsay Childs, Esq. is a partner at Vetrano | Vetrano & Feinman. She has also chosen to limit her practice to family law matters, including divorce, custody, and support. Ms. Childs serves as President Emeritus of the Doris Jonas Freed American Inn of Court in family law and as Chair of the Montgomery Bar Association’s Family Law Section. In addition, Ms. Childs has been honored as one of Main Line Today’s Top Lawyers four times since 2019.



About the Divorce and Family Lawyers of Vetrano | Vetrano & Feinman LLC


The family lawyers of Vetrano | Vetrano & Feinman LLC provide skilled divorce and family law services to residents of Main Line communities such as of Blue Bell and Wayne. The law firm’s attorneys work diligently in pursuit of success for their clients and share the philosophy that, though parents may divorce, the family still exists. This belief drives them to facilitate proceedings as amicably as possible to help clients maintain a healthy family environment after divorce.



For more information about the 2022 Top Lawyers at Vetrano | Vetrano & Feinman LLC in Main Line, PA, please visit the firm’s website, https://www.vetranolaw.com/ or call (610) 265-4441.

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California-Based BBA Wealth Management Rebrands to Beach House Wealth Management, Ushering in a New Era of Financial Partnership

Burroughs-Braley-Alibrandi Wealth Management (BBA Wealth), a California-based wealth management and financial planning firm, has undergone a rebrand including a name change to Beach House Wealth Management, new logo, and updated website.

Burroughs-Braley-Alibrandi Wealth Management (BBA Wealth), a California-based wealth management and financial planning firm, has undergone a rebrand including a name change to Beach House Wealth Management, new logo, and updated website.

Since John Burroughs founded BBA Wealth in 2003, the firm has provided holistic wealth management services to clients in the Capitola, California area and beyond. Over the years, the services have expanded to include comprehensive financial planning, investment management services, and strategic partnerships for ongoing client support.

When Jason Braley and Sabin Alibrandi became owners in 2017, they retained John’s original commitment to the surrounding community while modernizing the practice to accommodate clients across the country. With this company rebrand, Braley and Alibrandi hope to communicate the evolutions the company has made since 2003 and their refreshed approach to wealth management.

“The industry used to be purely centered on managing people’s investments. Our services expand into all other aspects of a person’s financial life that are important,” Co-owner Jason Braley said of the evolution. “It can be a relief for our clients to know that there’s someone who knows what’s going on with their finances and can help them navigate difficult situations.”

The updated name steps away from the traditional partner name approach and, instead, speaks to what many clients hope to achieve: making work optional. Whether that means retiring early and buying a beach house or moving across the country to pursue other passions, the team at Beach House Wealth Management helps clients from all walks of life meet their financial goals. Learn more and explore the update website at beachhousewealthmanagement.com.

About Beach House Wealth Management

Beach House Wealth Management is a wealth management and financial planning firm that believes in creating long-standing partnerships with its clients in order to help them achieve their goals. In addition to financial planning, the firm has a long history of community involvement.

Associated Designs – Farmhouse Plan Tacoma Offers a Four Bedroom Floor Plan

Step inside the Tacoma house plan by Associated Designs. On the outside the home is wrapped in horizontal lap siding, batt and board gable ends, and a stone wainscot which blends to give the Tacoma an eye-catching farmhouse look. The entry is tucked away towards the right and is sheltered by the covered porch.

Horizontal lap siding, batt and board gable ends, and a stone wainscot blend to give the Tacoma an eye-catching farmhouse look. The entry is tucked away towards the right and is sheltered by the covered porch.

The entry is open and offers enough space for a bench to the right and a coat closet is around the corner. Double doors open to the study, which would make a great home office or remote learning room. Straight ahead the entry opens to the vaulted great room. Windows along two walls fill the room with light and on cold, dark winter days the fireplace fills the room with light and warmth. A ceiling transition helps to separate the kitchen and dining room from the great room while keeping the floor plan open. The kitchen is well appointed and offers ample counter space.

An L-shaped hallway frames the great room separating the gathering space from the bedrooms. Two of the four bedrooms are at the front of the Tacoma’s floor plan and have a compartmentalized bathroom. Towards the back of the home is the large laundry room and at the end of the hall is the owners’ suite. This quiet sanctuary features a private bathroom with walk-in shower, twin sinks, and two walk-in closets.

A staircase off the hallway leading to the owners’ suite runs up to the second floor built into the roof, giving the home the look of a single-story design from the street. Another bedroom is upstairs along with a bonus room and full bathroom.

Completing the Tacoma is the attached two car garage. The tandem bay offers the option of storage space or additional car parking if the vehicle is not a daily driver.

The Tacoma 31-140 is created by Associated Designs, Inc.’s talented team of residential home designers. To learn more about this design visit www.AssociatedDesigns.com.

About Associated Designs

Founded in 1990, Associated Designs offers pre-designed plans and custom design services. Created by a talented team of designers with more than 45 years of design experience, Associated Designs offers a variety of single family homes, garage and accessory structures, and multi-family designs.