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GTY Announces Principal Sponsorship For Transforming Local Government Conference

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GTY Technology Holdings Inc. (Nasdaq: GTYH) (GTY), a leading provider of SaaS/Cloud solutions for the public sector, announces that they are the Principal Sponsor for Alliance for Innovations annual Transforming Local Government Conference.

GTY Technology Holdings Inc. is proud to partner with AFI as the Principal Sponsor at TLG, known for its dynamic content and unique experience for local government professionals across the US and Canada, said Stephen Rohleder, President, CEO, and Chairman of GTY.

The Transforming Local Government (TLG) 2020 Conference is hosted by the City of Phoenix, AZ. May 5-8, 2020. Over 700 leading local government innovators are expected to attend at the GTY Conference Hall at the Phoenix Convention Center. We are looking forward to meeting new friends and catching up with existing clients at the GTY booth.

The Alliance for Innovation is proud to partner with GTY Technology and its business units to provide a unique opportunity for attendees from across the US and Canada. With GTYs Principal Sponsorship, TLG 2020 is set to be the premier event for local government professionals seeking to transform local government strategy, operations, culture, and ecosystems, noted AFI President and CEO, Joel Carnes.

GTY brings leading government technology companies together to achieve a new standard in citizen engagement and resource management through its six subsidiaries. GTY is the first in the government-technology industry to offer an intuitive cloud-based suite of solutions for over 2,000 states, local and tribal governments spanning functions in procurement, payments, grant management, budgeting, and permitting.

Click on the following link to learn more about how GTY and its business units are helping thousands of communities across the US and Canada: https://www.gtytechnology.com/

About GTY Technology Holdings Inc.

GTY Technology Holdings Inc. (NASDAQ: GTYH) (GTY) brings leading public sector technology companies together to achieve a new standard in stakeholder engagement and resource management. Through its six business units, GTY offers an intuitive cloud-based suite of solutions for state and local governments, education institutions, and healthcare organizations spanning functions in procurement, payments, grant management, budgeting, and permitting: Bonfire provides strategic sourcing and procurement software to enable confident and compliant spending decisions; CityBase provides government payment solutions to connect constituents with utilities and government agencies; eCivis offers a grant management system to maximize grant revenues and track performance; Open Counter provides government payment software to guide applicants through complex permitting and licensing procedures; Questica offers budget preparation and management software to deliver on financial and non-financial strategic objectives; Sherpa provides public sector budgeting software and consulting services.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The companys actual results may differ from its expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as expect, estimate, project, budget, forecast, anticipate, intend, plan, may, will, could, should, believes, predicts, potential, continue, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the companys expectations with respect to future performance and anticipated impacts of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the companys control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the ability to recognize the anticipated benefits of GTYs recent business combination transaction, which may be affected by, among other things, competition, the ability of the company to grow and manage growth profitably and retain its key employees; (2) costs related to the business combination; (3) the outcome of the New York and California lawsuits among the company, OpenGov, Inc. and the other parties thereto; (4) the inability to maintain the listing of the companys common stock on The Nasdaq Stock Market; (5) changes in applicable laws or regulations; (6) the possibility that the company may be adversely affected by other economic, business, and/or competitive factors; (7) any government shutdown which impacts the ability of the companys customers to purchase its products and services; and (8) other risks and uncertainties included in the companys registration statement on Form S-1 (File No. 333-229926), including those under Risk Factors therein, and in the companys other filings with the SEC. We caution you that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.

Company:

Carter Glatt

Senior Vice President, Head of Corporate Development, GTY

[email protected]

702-945-2898

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Electrolux Q3 2020 Interim report: Strong results and cash flow on rebounding markets

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STOCKHOLM, Oct. 23, 2020 /PRNewswire/ —

The comments and figures in this report refer to continuing operations unless otherwise stated

Highlights of the third quarter of 2020

  • Net sales amounted to SEK 32,004m (30,330). Organic sales increased by 15.2%.
  • Record high operating income of SEK 3,220m (1,063), corresponding to a margin of 10.1% (3.5), mainly driven by strong volumes and prices. The comparison period included non-recurring items of SEK -290m.
  • Significant market recovery driven mainly by pent-up demand and government stimulus programs.
  • Income for the period amounted to SEK 2,356m (610) and earnings per share was SEK 8.20 (2.12).
  • Operating cash flow after investments was SEK 6,005m (2,499).
  • The Board proposes to reinstate a dividend for 2019 of SEK 7.00 (8.50) per share, to be paid in one instalment.

President and CEO Jonas Samuelson’s comment

In the third quarter Electrolux reported record earnings of SEK 3,220m, or 10.1% of net sales, driven by pent-up demand and government stimulus programs impacting consumer spending. This drove significant volume growth, and positive price and mix improvement, resulting in organic sales growth of 15.2%. The record high operating income translated into a strong operating cash flow after investments of SEK 6,005m.

The strong demand in the quarter was to a significant extent a recovery of the very low market volumes in March-May due to store closures and restrictions on movement. Demand was further enhanced by stimulus programs, more than compensating for the weaker economy caused by the pandemic. Due to pandemic restrictions during the first half of the year, we entered the quarter with unusually low inventory levels, which have remained during the quarter despite high production levels, somewhat impacting our ability to meet the strong demand across all regions. 

Sales also benefitted from consumers spending more time at home, using their appliances more intensively and allocating more of their household budgets to home improvement. This in combination with our relentless focus on consumer experience innovation has continued to improve demand for our more highly featured products, driving favorable product mix.

One great experience innovation example is the Frigidaire Gallery AirFry cooker that recently received the 2020 innovation award at the Home Depot. The AirFry cooker also delivers a significantly higher gross margin compared to traditional cookers. Innovation is truly a key pillar for creating value and that is why we will showcase how we are driving profitable growth through innovation at our online Capital Markets Update on November 17.

The Board of Directors proposed to reinstate a dividend for the fiscal year 2019 based on the recovery in earnings and cash flow. The proposed dividend of SEK 7 per share will be up for decision at an Extraordinary General Meeting on November 3. Our strong commitment to sustainability remains unchanged with the target of climate neutrality by 2050, and I am pleased that the long-term incentive program for senior managers proposed by the Board includes a substantial climate impact reduction element.

Looking into the fourth quarter, visibility remains limited as demand may be impacted by several factors, especially as the pandemic is still very much present. However, we currently anticipate that consumer demand and thus financial performance will normalize gradually going forward. Considering this and the catch-up effect during the third quarter, we are revising our market outlook for the full-year 2020 upwards. We anticipate market demand for appliances in Europe to be slightly positive, in North America to be slightly positive to positive and in Latin America to be positive. It is only the combined demand in our larger markets in the Asia-Pacific, Middle East and Africa region that we still expect to be negative for 2020.

I am very proud of how we as an organization successfully have navigated in these challenging times. My colleagues around the world has done a great job in executing on our strategy. That is why I am confident that Electrolux remains well positioned to create value.

Telephone conference 09.00 CET

A telephone conference is held at 09.00 CET today, October 23. Jonas Samuelson, President and CEO and Therese Friberg, CFO will comment on the report.

Details for participation by telephone are as follows:

Participants in Sweden: +46 8 566 426 51

Participants in UK/Europe: +44 3333 000 804

Participants in US: +1 631 9131 422

Pin code: 36830556#

Slide presentation for download:

www.electroluxgroup.com/ir

Link to webcast:

https://edge.media-server.com/mmc/p/yv4vxegt

For further information, please contact:

Sophie Arnius, Head of Investor Relations +46 70 590 80 72

Åsa Öhman, Electrolux Press Hotline, +46 8 657 65 07

This is information that AB Electrolux is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 0800 CET on October 23, 2020.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/electrolux/r/electrolux-q3-2020-interim-report–strong-results-and-cash-flow-on-rebounding-markets,c3221416

The following files are available for download:

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UnionPay Mobile Payment Service Now Supported by 18 Southeast Asian E-wallets

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SINGAPORE, Oct. 23, 2020 /PRNewswire/ — UnionPay International (UPI) announced today that it will collaborate with Aleta Planet, a renowned Singapore-based fintech company, to launch AP-1, an e-wallet aimed at offering users the convenience of UnionPay’s QR code payment. At present, 18 e-wallet products that comply with UnionPay specifications are available to provide UnionPay cardholders with quick and secure payment in five Southeast Asian countries.

Till date, UnionPay cards are issued in all ten ASEAN countries, and several new payment scenarios for UnionPay mobile payment have been developed with nearly 500,000 local merchants are enabled. In this context, UPI has either developed or upgraded local e-wallets with UnionPay specifications in collaboration with several institutions in Singapore, Thailand, Malaysia, Vietnam, and Cambodia. The new products have turned out to be popular among local residents.

UnionPay mobile payment service in Southeast Asia has the following three distinctive characteristics:

  • Interconnected service areas. Users in Southeast Asia only need to link their cards once to pay with the UnionPay powered wallets both within their home country and in other countries of the region as well as in China.
  • A wide range of products. UnionPay has implemented a portfolio of products, such as UnionPay QR code wallets, HCE wallets and UnionPay Mobile QuickPass, in the region. They support physical card enrollment and virtual card issuance, providing flexibility to meet different user preferences in different markets.
  • A well-developed ecosystem. In addition to financial institutions, UPI also works with mobile phone manufacturers and telecommunication companies to serve more local UnionPay cardholders.

The UnionPay card acceptance coverage has reached 90% in Singapore, with more than 50,000 local merchants supporting UnionPay mobile payment service. AP-1 users can easily make payments on UnionPay’s global QR network as long as they link their UnionPay cards issued by Aleta Planet to the wallet, or apply for a UnionPay virtual card in the app.

Currently, UnionPay cards are accepted in 179 countries and regions worldwide, of which 61 support UnionPay mobile payment, and close to 90 e-wallet products conforming to UnionPay specifications are made available in 14 countries and regions.

 

Related Links :

http://www.unionpayintl.com

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Shanghai Free Trade Zone makes impressive progress over 7 years

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BEIJING, OCt. 23, 2020 /PRNewswire/ — A report from China Daily:

The China (Shanghai) Pilot Free Trade Zone, the country's first FTZ, is launched in September 2013. [Photo provided to chinadaily.com.cn]
The China (Shanghai) Pilot Free Trade Zone, the country’s first FTZ, is launched in September 2013. [Photo provided to chinadaily.com.cn]

The China (Shanghai) Pilot Free Trade Zone (FTZ), the first of its kind in China, was established in September 2013 and has been a leader in the country’s reform and opening-up ever since.

The Shanghai FTZ, located in the Pudong New Area in eastern Shanghai, consists of the Free Trade Areas, the Lujiazui Financial Subzone (including the Expo Area), the Jinqiao Development Subzone, and the Zhangjiang High-tech Zone. The Lin-gang Special Area was set up in August 2019.

Since its establishment, the Shanghai FTZ has made significant contributions to Pudong’s economic transformation and upgrading, with Pudong’s GDP exceeding 1.27 trillion yuan in 2019, a year-on-year increase of 7 percent. Pudong’s general financial revenue totaled 431.6 billion yuan last year, growing by 1.2 percent year-on-year.

Over the past seven years, the Shanghai FTZ has worked to facilitate trade and investment, improve governance, and promote financial innovation, leading to impressive achievements in the country’s institutional innovation.

On the institutional innovation index of China’s FTZs published by Sun Yat-sen University in July, the Shanghai FTZ ranked first overall among China’s FTZs in terms of institutional reforms. Over 300 innovative measures taken by the Shanghai FTZ relating to investment, trade, finance and the improvement of governance have been replicated in other areas.

Some of the zone’s most successful innovations include lists of areas that are off-limits to foreign investment, the introduction of the China (Shanghai) International Trade Single Window, the separation of business licenses and operating permits, and the Free Trade Account system.

Hema Fresh, a fresh food chain backed by e-commerce giant Alibaba, has benefited greatly from the zone’s institutional reforms.

Food sales, catering services, and online orders are considered separate categories in traditional business models, but Hema Fresh launched its first store combining the three in the Shanghai FTZ. This is a typical example of the zone’s efforts to optimize its business environment.

The fresh food chain has seen rapid growth since its first obtained its business licenses in 2016, according to Hema Fresh CEO Hou Yi.

As a national leader in opening-up and innovation, the Shanghai FTZ has attracted many of the world’s top innovators and investors.

Statistics show that by the end of June 2020, 12,000 newly established foreign enterprises, including Siemens, Itochu Corporation, and Porsche Finance Lease Co., Ltd. had set up operations there.

These enterprises are the biggest beneficiaries of the zone’s efforts to reform and open up.

With the zone’s comprehensive opening-up in sectors like manufacturing, service, Shanghai Artemed Hospital, the first foreign-owned general hospital in the Shanghai FTZ, opened on Sept 26, 2019. The hospital has become a shining example of how to improve the zone’s service sector.

IfFP Professional Skills Training (Shanghai) Co., the country’s first wholly foreign-owned financial services vocational training institute, was established in the zone in September 2018 and opened for business in March 2019.

It has historically been difficult for foreign businesses to invest in sectors such as financial training in China, but the shortened negative list, which permitted wholly foreign-funded enterprises to operate in more sectors, giving IfFP an opportunity to expand into the Chinese market.

IfFP received approval from the commerce commission of the Shanghai FTZ in just two days’ time, according to Zhong Ke, general manager of the company.

The zone’s efficient and high-quality services are what allowed IfFP to begin operating there, Zhong said.

Statistics show that by the end of June, the zone had pioneered 54 measures to further open up, and 3,392 projects were launched in the zone.

Authorities have said that the zone will ramp up efforts to improve its business environment, explore new ways to promote trade, and further loosen restrictions on investment in the aim of increasing its international influence and further consolidating itself as a leader in reform and opening-up.

Source: http://regional.chinadaily.com.cn/en/2020-10/21/c_552178.htm

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