(NASDAQ:AMZN) “ Customers can shop now and score Black Friday-worthy deals with Amazons Holiday Dash deals eventdeep discounts from small businesses and top brands are available across the hottest categories from toys to fashion, electronics, home, kitchen, beauty and more at amazon.com/holidaydash. With new deals dropping every day starting today, customers can shop early and with confidence that they are getting Black Friday-worthy deals and incredible savings on a huge selection of productsmaking it easy to check everyone off the gift list earlier than ever. Plus, Amazon will offer customers over a million deals worldwide throughout the season, in addition to the biggest-ever collection of Holiday Gift Guides and a wide selection of products at everyday low prices, making it truly a season of savings for customers all around the world.
Customers can start snatching up deals at amazon.com/holidaydash, on the Amazon App, or by simply asking, Alexa, what are my deals? Customers can also shop on smile.amazon.com/holidaydash or use AmazonSmile on the Amazon App and support their favorite charities while they check gifts off their liststheyll find the same amazing deals and Amazon shopping experience, with the added bonus that AmazonSmile will donate a portion of the purchase price of eligible products to a charity of their choice.
See below for more details on Amazons Holiday Dash deals event, more ways to shop all season long, and fast, free and convenient delivery options.
Holiday Dash: Early Black Friday Deals Daily
Amazons Holiday Dash deals event is serving up holiday cheer and epic savings early this year to give customers more time to shop and save. Theres no need to wait to secure great dealswith Holiday Dash, Amazon is making it easier than ever to find top gifts at amazing prices ahead of the holiday hustleplus most items shipped now through December 31, 2020 can be returned until January 31, 2021. The deals included below, and many more, will be available on various dates and times beginning today, while supplies last.
- Save up to 30% on select kids clothing and more from our brands including Amazon Essentials, Spotted Zebra, and Simple Joys by Carters
- Save up to 30% on select men’s and women’s clothing and more from our brands including Amazon Essentials, Daily Ritual and Goodthreads
- Save up to 20% on AmazonBasics
- Save 40% on Wag dog food, and treats
- Save 20% on household and personal care products from Solimo
- Save 20% on Presto! Refillable Cleaners
- Save 20% on baby care products from Mama Bear and Solimo
- Save 20% on Belei skincare
- Save 20% on nutrition and wellness products from Amazon Elements and Revly
- Save 20% on coffee, snacks, and other grocery essentials from Solimo, Happy Belly, and Amazon Fresh
Toys & Games
- Save up to 40% on Star Wars toys
- Save up to 40% on Collectible toys from L.O.L. Surprise!, Calico Critters, Fingerlings, and more
- Save up to 30% on Hot Wheels toys
- Save up to 30% on Building Sets from LEGO, Magna-Tiles, and PlayMonster
- Save up to 30% on Marvel toys
- Save up to 30% on Fortnite, Pokemon, Roblox and more
- Save up to 40% on Tegu Building Blocks
- Save up to 30% on Funko POPs!
- Save up to 30% on Arts & Crafts sets
- Save 30% on Evenflo Pivot Explore Wagon
- Save up to 30% on preschool toys from Jazwares, Spin Master, Hape, and more
- Save on AmScope 52-piece kids beginner microscope STEM kit
- Save up to 40% on select apparel from Calvin Klein
- Save up to 40% on select Levi’s apparel for the whole family
- Save up to 40% on Star Wars apparel
- Save up to 30% on select New Balance footwear and apparel
- Save up to 40% on select Tommy Hilfiger apparel
- Save up to 40% on select kids’ clothing from Gerber, Hudson Baby, and more
- Save up to 50% on select watches from Citizen, Bulova, Anne Klein, and more
- Save up to 30% on select Lacoste apparel, shoes, and accessories
- Save up to 30% on Marvel apparel
- Save up to 30% on select seasonal fashion trends
- Save up to 25% on select Nautica men’s and women’s apparel
- Save up to 48% on select Hanna Anderson pajama sets and underwear styles
- Save up to 30% on select styles from The Drop
- Save up to 40% on select womens shoes from Shopbop
- Save up to 15% on select womens accessories from Shopbop
Household, Kitchen, Home Improvement & Smart Home
- Save on Le Creuset Cast Iron and Stoneware, including up to 48% on select Le Creuset 3.5Qt Oval Dutch Ovens
- Save up to 50% on select Bissell Vacuums
- Save up to 40% on SharkNinja Shark Navigator Lift-Away
- Save up to 35% on Eufy by Anker RoboVac
- Save up to 30% on Eureka Stick Vacuum
- Save on iRobot Robotic vacuums and mops
- Save up to 30% on iLife Robotic vacuum cleaner
- Save up to 25% or more on Samsung vacuums
- Save up to 36% on select Blueair air purifiers
- Save up to 20% on select Molekule air purifiers
- Save up to 40% on KitchenAid tools
- Save up to 20% on the Instant Pot Duo Mini Plus
- Save up to 30% on Hallmark gift wrap, ornaments, and cards
- Save up to 20% on select Breville Smart Ovens
- Save up to 20% on OXO BREW coffee makers
- Save up to 30% on Tineco floorcare products
- Save on Ninja AF161 Air Fryer and Ninja FG551 Foodi Indoor Smart Grill
- Save on select SodaStream Fizzi Sparkling Water Maker Bundles
- Save on the Keurig K-Mini Coffee Maker
- Save up to 20% on OXO Good Grips Smart Seal and bakeware
- Save up to 35% on Ayesha Curry Cookware
- Save 30% on Linenspa 10″ hybrid mattresses
- Save up to 30% on Zinus furniture and mattresses
- Save 30% on Sweetnight mattresses
- Save up to 30% on Moen bathroom fixtures and up to 20% off on Moen kitchen products
- Save up to 25% on select Hansgrohe products
- Save 15% on GE Profile Ice Maker
- Save 20% on select Broan appliances
- Save up to 15% on select Delta Faucet products
- Save up to 15% on Whirlpool softeners
- Save 15% or more on gaming, home education and home office furniture
- Save on select August Smart Locks
- Save on select Kwikset Smart and Mechanical Locks
- Save on Smart Home products from Emerson, Kasa TP-Link, and more
Beauty, Health & Personal Care
- Save up to 50% on your favorite Premium Beauty brands from Elemis, Mario Badescu, Redken, and more
- Save up to 40% on Premium Beauty appliances from T3, Foreo and more
- Save up to 40% on Waterpik and Colgate oral care appliances
- Save up to 45% on skin care from NIVEA, Aquaphor, and Eucerin
- Save up to 30% on hair dryers and products from Revlon, Bed Head, and more
- Save up to 35% on razors from Braun, Gillette, and more
- Save 33% on Panasonic and Norelco shavers
- Save up to 20% on Fitbit Activity and Fitness Trackers
- Save up to 33% on select Nintendo Switch games
- Save up to 35% on Nixplay Digital Frames
- Save up to 30% on Kodak Instant Cameras and Printers
- Save 25% on Adobe Creative Cloud Entire Collection
- Save up to 20% on Samsung TVs
- Save up to 20% on Sony TVs
- Save up to 50% on JBL Speakers
- Save up to 33% on Sony Headphones
- Save up to 33% on Bose Headphones
- Save up to 40% on select Mynt 3D printing pens and accessories
- Save 30% on Mynt 3D PRO Pen with OLED Display
- Save up to 30% on VAVA 4K Projectors
- Save up to 30% on TaoTronics Headphones
Small Businesses on Amazon Launchpad
- Save up to 50% on Kids Against Maturity: Card Game for Kids and Families
- Save up to 30% on the SOLIOM S600 Outdoor Security Camera
- Save up to 25% on the Zen Laboratory DIY Jumbo Slime Kit for Kids
- From October 26 to November 19, Prime members can save 10% or more on select unique products from small brands on Amazon Launchpad like: Mobile Pixels Duex Portable Monitor for Laptops and Scentered Travel Essentials Aromatherapy Balm gift set
Entertainment: Amazon Music, Audible, Books & Prime Video
- Amazon Music: Beginning October 23, new Amazon Music Unlimited customers can get three months of the premium streaming tier free, to enjoy unlimited access to more than 60 million songs, ad-free and a wide selection of popular podcasts.
- Amazon Music: Beginning October 29, current Amazon Music Unlimited subscribers can upgrade to the Family Plan free for three months, with access for up to six accounts.
- Audible: Between November 1 and December 31, new members save nearly 40% on the first six months of an Audible Plus membership at just $4.95 per month. Membership includes unlimited access to more than 10 thousand Audible Originals, audiobooks and podcasts.
- Books: Deals on select multi-genre books and ebooks throughout the season
- Prime Video: This holiday season, Prime Video will offer up to 50% off select popular Halloween, family and holiday movies to rent or buy. Deals will roll out over the next few months, so be sure to check www.amazon.com/pmd for updates.
Amazon Gift Cards
- Starting today, customers using Amazon Reload to replenish their Amazon Gift Card balance for the first time will receive a $10 bonus with their reload of $100 or more. Offer available through December 31.
- Starting October 26, first-time Amazon Gift Card shoppers will receive a $15 promotional credit with the purchase of $50 or more in Amazon Gift Cards. Offer available through December 20. The promotional credit expires on February 6, 2021. Other restrictions apply.
Amazon Credit Cards:
- Now through December 22, with an eligible Prime membership, customers who apply and are approved for the Amazon Prime Rewards Visa Card will instantly receive a $100 Gift Card. Prime Cardmembers earn 5% back at Whole Foods Market and Amazon.com. Additionally, starting November 1 through December 22, customers without a Prime membership can apply for the Amazon Rewards Visa Card and receive a $60 Gift Card upon approval, in addition to earning 3% back at Whole Foods Market and Amazon.com as a cardmember. Restrictions apply. Visit amazon.com/visa for details.
Automotive, Tools and Lawn & Garden
- Save 50% on tire installation
- Save up to 25% on Miracle-Gro Expand ‘n Gro concentrated planting mix
- Save 25% on Castrol GTX Conventional motor oil
- Save 20% on Select Tonno Pro Tonneau covers
- Save up to 20% on select Streamlight flashlights
- Save on select DEWALT cordless drills and tools
- Save up to 30% on select SKIL tools
- Save up to 15% off on select ZGrills Pellet Grills & Smokers
- Save up to 15% on Shintenchi 4 piece wicker rattan outdoor patio furniture set
- Save on select Renogy monocrystalline solar panels
Sports & Outdoors
- Save up to 20% on Select Coleman Tents & Gear
- Save up to 20% on select CamelBak kids water bottles
- Save up to 25% on select Sawyer Products water filters
- Save up to 30% on select Stanley drinkware
- Save up to 28% on select Segway scooters and kids bikes
- Save up to 30% on select Stiga table tennis rackets and Zume badminton set
- Save up to 30% on select Legendary Whitetails apparel
- Save up to 30% on select Osprey Outdoor Packs
- Save 20% on Catit Creamy cat treats
- Save on Petsafe electronic dog toys
- Save on The Honest Kitchen human grade pet treats
- Save on Friends Forever donut pet beds
Whole Foods Market:
- Both in-store and online, Prime members can receive discounts on customer favorites including 35% off Bare Bones broths and 35% off all packaged teas, available now through October 27.
- Available now through October 20, customers can get 20% off pumpkins and gourds “ excluding squash.
More Ways to Shop, All Season Long
- Gift Guides: Get an early start on holiday shopping with Amazons biggest-ever selection of gift guides and exclusive storefronts, available earlier than ever before at amazon.com/gifts. Amazons gift guides are easy to navigate and include thoughtful collections with something for everyone on your list, no matter your budget.
- Small Business Gift Guide: amazon.com/smallbusinessgiftguide
- Beauty Gift Guide: amazon.com/beautyguide
- Fashion Gift Guide: amazon.com/fashiongiftguide
- Holiday Toy List: amazon.com/holidaytoylist
- Home Holiday Guide: amazon.com/homeholidayguide
- Electronics Gift Guide: amazon.com/techgifts
- Amazon Launchpad Gift Guide: amazon.com/launchpadgiftideas
- (RED) Gift Guide: For the fourth consecutive year, (RED) is teaming up with Amazon to provide customers a single destination to shop an array of products that give back, spanning tech, fashion, health and wellness, kitchen and home, and more: amazon.com/red
- Amazon App: Shop anytime, anywhere with the Amazon App and ensure you never miss a deal.
- Amazon.com in Spanish: Customers can visit Amazon.com/espanol or use the Amazon App to shop, browse and search for millions of products, view their carts, and place orders in Spanish. On the mobile App customers can go to Settings and tap on Country and Language to select Spanish. Amazon.com in Spanish gives customers the same convenient shopping experience in their preferred language.
- Alexa Shopping: Alexa makes it easy to find the best holiday deals. Just ask, Alexa, what are my deals?
- Alexa Donations: Simply say, Alexa, I want to make a donation, and you can make a monetary donation to the organization of your choice. For more information and charities to support, visit pay.amazon.com/alexadonations.
- AmazonSmile: This holiday season, customers can visit smile.amazon.com and find the exact same Amazon experience “ amazing deals, wide selection, fast and free delivery options “ with the added bonus that AmazonSmile will donate a portion of the purchase price on eligible products to a charity of their choice. Customers can shop with AmazonSmile via the Amazon app on iPhones and Android phones, or by starting at smile.amazon.com on a web browser.
- Charity Lists: Charity Lists give charitable organizations an easy way to create wish lists of needed products while providing customers a convenient way to donate items directly to these causes. Customers can shop thousands of Charity Lists this holiday season by visiting smile.amazon.com/charitylists, with new charities joining all the time.
- Climate Pledge Friendly: Customers can discover and shop for products that have one or more of 19 different sustainability certifications, which help preserve the natural world. Get details at amazon.com/ClimatePledgeFriendly
- Amazons Holiday Wish Book: Discover the top toys and gifts for kids in Amazons Joy Delivered shoppable look book, which arrives in homes this week and is available digitally at amazon.com/wishbook
- Amazon Live: Throughout the holiday season, tune-in to amazon.com/live for shoppable livestreams featuring holiday inspiration, gift guides, and live demonstrations of this seasons top deals and gift ideas from influencers and celebrities.
- Shop In-Store: Customers can visit Amazons retail locations, including Amazon Books, Amazon 4-star, Amazon Pop Up, Amazon Fresh, and Whole Foods Market to find incredible deals and amazing savings this holiday season. Find your nearest store at amazon.com/stores or wholefoodsmarket.com/stores.
Fast, Free & Convenient Delivery Options
At Amazon, incredible employees come together to deliver magical experiences for customersevery day and throughout the holiday seasonand that includes offering fast, free and convenient delivery options for customers. Amazon announced just last month that it is hiring an additional 100,000 regular full-time and part-time jobs in its fulfillment and logistics network throughout the U.S. and Canada. With more than 150 new process improvements and safety measures implemented over the last several months, these permanent positions will work safely alongside the hundreds of thousands of employees already across Amazons network to ensure fast and efficient delivery for customers throughout the holiday season, and beyond. In addition to free delivery on millions of items for all Amazon customers, Amazon offers a number of ways for customers to shop for and receive holiday gifts.
- Fast One-Day & Same-Day Delivery: Prime members in the U.S. can shop a selection of over 10 million items eligible for Prime Free One-Day Delivery with no minimum purchase, and millions of items available for Same-Day Delivery in 47 major metropolitan areas. These delivery options are not only convenient for customers but theyre better for the planet because One-Day and Same-Day deliveries ship from local fulfillment centers so they travel shorter distances and generate less carbon emissions. This is just another way that Amazon is leveraging its scale for good to make investments that support communities. Learn more at amazon.com/primedelivery. Not a Prime member yet? Join Prime or start a 30-day free trial at amazon.com/prime.
- Ultrafast & Free Grocery Delivery: Prime members in more than 2,000 cities and towns have access to free, two-hour delivery on more than 170,000 products from Whole Foods Market and Amazon Fresh. Plus, in addition to groceries, Prime members can find toys, gifts, household products, and everyday essentials, electronics, Amazon devices, and more available with free, two-hour delivery from Amazon Fresh. Prime members also get free one-hour pickup at all U.S. Whole Foods Market and Amazon Fresh locations.
- Delivery Where its Needed Most: Whether road-tripping to see family, staying home and need a secure delivery location, or sending a gift to a loved one or friend, there are thousands of alternative package pickup options customers can choose from via Amazon Hub. These locations are conveniently located near or in offices, convenience stores, malls, apartment buildings, and grocery stores, in more than 900 cities and towns across the country. Tens of millions of products can be easily and conveniently delivered to an Amazon Hub pickup point at Whole Foods Market, 7-11, Chase Bank, Rite-Aid, HealthMart, GNC, Stage Stores, and more. To find an Amazon Hub location, visit amazon.com/hub.
- Extended Returns Window: Customers can buy gifts with confidence on Amazon knowing that millions of items are eligible for free and convenient returns at over 18,000 locations in the U.S. and this years return window is even longeritems shipped between October 1 and December 31, 2020 can now be returned until January 31, 2021. In addition, over 5,800 locations including Amazon Books, Amazon 4-star, UPS Store locations and Kohl’sand new this year Whole Foods Marketoffer label-free, box-free returns, making it even easier than ever to check returns off your list.
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.
TVM Capital Life Science Announces Substantially Oversubscribed US$478 Million Final Closing of TVM Life Science Innovation II, largest fund in the firm’s history
– The Fund continues the proven "Project Focused Company" investment strategy for early-stage drug development candidates
– In addition, the Fund continues to invest in late-stage clinical biopharmaceutical companies, medical device companies and diagnostic companies
MUNICH and MONTREAL, Oct. 27, 2020 /PRNewswire/ — TVM Capital Life Science, one of the leading life sciences venture capital firms in North America and Europe, today announced the final closing of its latest fund, TVM Life Science Innovation II (TVM LSI II). Committed capital totals US$478 million which was raised from high profile international investors, including Eli Lilly and Company, other strategic investors, pension funds, endowments, foundations, fund-of-funds, wealth managers and large US banks as well as multi and single family offices from the Americas, Europe and South Korea. The geographical focus for the Fund’s investment activity is on North-America and Europe.
TVM LSI II was substantially oversubscribed. The Fund already sold its first investment in February 2020.
TVM LSI II will maintain TVM’s focus on investing in assets that provide a visible and attractive exit strategy from the outset with the goal of maximizing returns and providing early and significant liquidity for its investors. About 50-60% of the Fund’s capital is intended to be invested in "Project Focused Companies" ("PFCs") which are majority-owned by the Fund and set up for the development of early-stage drug candidates in a capital and time efficient manner. The remaining capital will be invested in late clinical stage biopharmaceutical companies as well as commercial stage medical device and diagnostic companies. The proven focus of TVM LSI II continues on building a portfolio of differentiated first-in-class and best-in-class assets that are diversified by indication and stage of development.
Dr. Luc Marengere, Managing Partner of TVM Capital Life Science commented: "We are thrilled by the strong support of existing and new investors in TVM LSI II. TVM LSI II is the largest fund raised by TVM since inception. In addition, we are grateful for the pivotal role in raising TVM LSI II in the Americas and Europe by New York based OCP and Founder Joelle Wyser-Pratte."
Stefan Fischer, Managing Partner (Finance) stated: "We are confident that TVM LSI II will not only continue the TVM success story for our investors but will also enable the financing of the development of new and differentiated treatment options for patients with significant unmet medical needs."
"The success of this fundraising effort is a strong validation of the innovative, capital-efficient investment strategy that we have implemented in 2012 together with Eli Lilly and Company. TVM LSI II intends to make investments in about 16 early-stage single asset PFCs and 10 late-stage companies with a focus on North America and Europe," wrote Dr. Hubert Birner, Managing Partner of TVM Capital Life Science based in Munich.
With the closing of TVM LSI II, Stefan Fischer was promoted to Managing Partner (Finance) and Dr. Sascha Berger was promoted to Partner.
In the past few months, the TVM investment team was complemented with the addition of Alexandra MacLean, MD and Alain Thibault, MD as Principals and, Dr. Valentina Agostina, Catello Somma and Philipp Lechner as Associates.
About TVM Capital Life Science
TVM Capital Life Science provides venture capital to international biopharmaceutical, medical technology, and diagnostic companies in North America and the EU. TVM follows a two-pronged strategy with a focus on early and late stage investments.
TVM Capital Life Science: Stefan Fischer, Managing Partner (Finance), TVM Capital Life Science, [email protected], +49 89 998 992 36
OCP Capital: Joelle Wyser-Pratte, Founder, [email protected], +1 914 441 3554
TVM Life Science Innovation II (GP) S. à r.l.
8, Rue Lou Hemmer
Grand Duchy of Luxembourg
TVM Life Science Management Inc.
2 Place Alexis Nihon, Suite 902, Montréal, QC H3Z 1X5, Canada
TVM Life Science Management GmbH
Related Links :
Canadian Solar Launches Series 7 Modules of up to 665 W
GUELPH, ON, Oct. 27, 2020 /PRNewswire/ — Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), today launches its Series 7 high-power, high-efficiency modules with power output of up to 665 W. The new generation modules are set to deliver one of the industry’s most competitive levelized cost of electricity (LCOE) as it further reduces balance of system (BOS) and other costs for solar power plants.
The new monofacial HiKu7 and bifacial BiHiKu7 modules are optimized with leading tracker and inverter designs to support seamless installation of solar plants. This means more modules per string, more watts per tracker and pile, lower equipment and labor costs, and higher project returns.
Series 7 Product Portfolio: Solidifying Canadian Solar’s Technology Leadership
- Power classes of up to 665 W and module efficiencies of up to 21.4%
- Commercial deployment of Canadian Solar’s proprietary cell technology and module design, including hetero-type ribbon (HTR) and paving technology (PA)
- Further reduction of the light- and elevated temperature-induced degradation (LeTID) using Canadian Solar Advanced Regeneration (CSAR) technology
- Excellent value for commercial and utility scale PV plants, reducing balance of system costs by up to 5.7% and LCOE by up to 8.9% relative to mainstream 445 W modules
Dr. Shawn Qu, Chairman and CEO of Canadian Solar remarked, "Following the launch of our 500 W+ modules only four months ago, I am excited to introduce our 600+ W modules today, which marks another milestone for Canadian Solar as the leader in solar PV cell and module technologies." He added, "As always, the design of our new Series 7 modules puts our customer needs at heart. Our focus is not only to increase power wattage but more importantly, to reduce LCOE, improve product reliability and increase energy yield. These product and technological innovations will continue to boost solar project returns, further improve solar energy’s competitiveness and accelerate the global clean energy transition."
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world’s largest solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy and storage solutions and has a geographically diversified pipeline of utility-scale solar power projects in various stages of development. Over the past 19 years, Canadian Solar has successfully delivered over 46 GW of premium-quality, solar photovoltaic modules to customers in over 150 countries. Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Japan, the U.S., India and China; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; delays in the process of qualifying to list the MSS subsidiary in the PRC; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company’s SEC filings, including its annual report on Form 20-F filed on April 28, 2020. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
Related Links :
Ping An Reports Steady Growth of 4.5% in Operating Profit Attributable to Shareholders of Parent Company in 9M 2020
HONG KONG and SHANGHAI, Oct. 27, 2020 /PRNewswire/ — Ping An Insurance (Group) of Company of China, Ltd. (hereafter "Ping An" or the "Group" or the "Company", HKEx:2318; SSE:601318) today announced its results for the nine months ended 30 September 2020.
In the third quarter of 2020, China achieved strong results in the prevention and containment of COVID-19. As a result, the domestic economy saw a steady recovery and Ping An’s business development through traditional offline channels gradually resumed. However, Ping An’s long-term protection business was still adversely impacted by COVID-19 as domestic consumption demand was still recovering and offline face-to-face meetings remained below pre-epidemic levels. Meanwhile, the ongoing global spread of COVID-19 sent major economies into recession and complicated the international environment.
Facing such unfavorable conditions as rising credit risk and volatile equity markets, Ping An adopted various measures, including strengthening risk management, advancing Ping An Life’s reform, and promoting online-merge-offline operations, to mitigate the adverse impact of COVID-19 on its activities and lay a solid foundation for future sustainable growth.
In the first nine months of 2020, operating profit attributable to shareholders of the parent company rose by 4.5% year on year to RMB108,692 million, culminating in a 20.9% annualized operating ROE. Net profit attributable to shareholders of the parent company decreased by 20.5% year on year to RMB103,041 million, a smaller decline compared with the first half of the year. Retail customer development continued to yield strong results. As of September 30, 2020, retail customers increased by 7.0% from the beginning of 2020 to over 214 million. In the first nine months of 2020, new customers increased by 2.5% year on year to 28.53 million. Contracts per customer grew by 2.7 % year to date to 2.71. Value contributions from corporate business cross-selling rose year on year. Ping An continued to take a segmented approach to customer development, serving nationwide strategic customers, regional large customers, and small and micro-business customers. In the first nine months of 2020, the new financing volume achieved through corporate business cross-selling climbed by 149.8% year on year, and the written premium of the corporate channel achieved through cross-selling grew by 113.4% year on year.
Ping An continued to develop its technological capabilities. As of September 30, 2020, Ping An’s technology patent applications increased by 6,654 on the year to date to 28,037, more than most other international financial institutions. In addition, Ping An won multiple international honors in AI, healthtech and other fields. Ping An’s healthtech team won the championship in the biomedical translation task of 2020 Conference on Machine Translation (WMT2020).
Financial Businesses: Operating profit after tax of the life and health insurance business rose by 9.2% year on year, Ping An Property & Casualty’s premium income grew by 11.5% year on year, and Ping An Bank maintained stable business operations.
With the epidemic under control, traditional offline operations gradually recovered, but it remained difficult to hold large-scale offline campaigns. Offline customer meetings have yet to return to pre-epidemic levels. In the first nine months of 2020, operating profit after tax of the life and health insurance business rose by 9.2% year on year to RMB75,446 million; NBV of the life and health insurance business declined by 27.1% year on year to RMB42,844 million. In response to the challenges posed by the epidemic, the Company continued to upgrade its online operating model, and took innovative measures in team management, customer development, and product promotion to accumulate momentum for business growth.
To tap into the high potential Chinese life insurance market, Ping An Life has started a series of reform projects to empower business teams through culture building, model upgrading, operations improvement, product strategies, and channel development. By doing so, Ping An Life is building long-term competitive advantages, and sustainable and healthy growth platforms for its long-term strategic development. The reform projects have been piloted and will be scaled up.
The property and casualty insurance business grew steadily, with quality under control. In the first nine months of 2020, Ping An Property & Casualty maintained steady development despite the COVID-19 epidemic. Premium income grew by 11.5% year on year to RMB219,490 million. China has contained the epidemic and maintained strong economic resilience, growth momentum, and favorable policies. In addition, Ping An Property & Casualty has improved its risk management policies, customer management, and post-underwriting management. As a result, Ping An Property & Casualty’s guarantee insurance combined ratio for the first nine months of 2020 was better than that for the first half. As market competition intensified, the overall combined ratio for the first nine months of 2020 reached 99.1%, 1.0pps higher than that for the first half. Operating profit decreased by 22.4% year on year to RMB11,055 million.
As of September 30, 2020, "Ping An Auto Owner" app, the largest automotive tool app in China, had over 117 million registered users, up by 26.5% year to date. Ping An Property & Casualty streamlined the claims process to offer more accurate claims services. As of September 30, 2020, 88% of family auto insurance claims were settled via "One-click Claim Services", demonstrating the leading position of Ping An Property & Casualty in online claim settlement.
The Company continued to improve the asset allocation and asset-liability duration matching of its investment portfolio of insurance funds. As of September 30, 2020, the Company’s investment portfolio of insurance funds grew by 10.3% from the beginning of 2020 to RMB3.54 trillion. In the first nine months of 2020, the investment portfolio of insurance funds achieved an annualized net investment yield of 4.5% and an annualized total investment yield of 5.2%. Based on the long-term trends of China’s economic growth and financial markets, the Company optimized asset allocation and strengthened ex-ante risk management.
Banking business maintained stable business operations and strengthened provisions. Ping An Bank proactively strengthened provisions for impairment losses on loans and advances as well as non-credit assets according to economic trends and predictions regarding domestic and international environment. Meanwhile, Ping An Bank increased the write-off of non-performing assets and raised the provision coverage ratio. In the first nine months of 2020, revenue grew by 13.2% year on year to RMB116,564 million and pre-provision operating profit grew by 16.2% year on year to RMB83,313 million. Net profit decreased by 5.2% year on year to RMB22,398 million, but it declined at a slower pace compared with the first half of the year. As of September 30, 2020, Ping An Bank’s retail assets under management (AUM) rose by 25.5% from the beginning of 2020 to RMB2,488,171 million. Retail customers increased by 6.8% from the beginning of 2020 to 103.64 million. The provision coverage ratio was 218.29%, up by 35.17pps from the beginning of 2020.
Technology Businesses: Ping An continues to further its technology strategies to empower core financial businesses and strengthen external expansion. Total revenue of the technology businesses increased by 8.3% year on year.
Ping An continues to further its technology strategies and develop its technology businesses rapidly. In the first nine months of 2020, total revenue of the technology businesses increased by 8.3% year on year to RMB65,028 million.
In respect of financial services ecosystem, Lufax Holding maintained steady growth. As of September 30, 2020, Lufax Holding’s client assets rose by 9.1% from the beginning of 2020 to RMB378,278 million. The balance of retail credit facilitated by Lufax Holding increased by 15.9% from the beginning of 2020 to RMB535,788 million. The ratio of loans more than 30 days overdue in loan portfolios facilitated by Lufax Holding has fallen significantly from the peak seen in the second quarter and has returned to pre-epidemic levels.
OneConnect (NYSE: OCFT) is a leading technology-as-a-service platform for financial institutions, serving over 3700 financial institutions in more than 18 countries or regions. OneConnect technological empowerment has achieved good results and recognition. In August 2020, OneConnect was included in the 2020 IDC China Fintech Top 50. In September 2020, OneConnect won the Platinum Award for Digital Banking at the IFTA FinTech Achievement Awards 2019.
In respect of health care ecosystem, Ping An Good Doctor (HKSE: 01833.HK) provides users with online and offline medical services, by integrating offline health care networks. In mid-2020, Ping An Good Doctor launched an across-the-board "strategic upgrade". Through the strategic upgrade, Ping An Good Doctor is committed to facilitating communication between doctors and patients and strives to become China’s largest online healthcare service platform with the most advanced business models and the strongest barriers to competition. In September 2020, Ping An Good Doctor launched a sub-brand "Ping An Doctor Home" and upgraded its services, including the Private Doctor and the Doctor Virtual Office, to serve both users and doctors.
In the government and medical service providers sector, Ping An Smart Healthcare launched the "Nationwide COVID-19 Real Time Dashboard", with key authoritative organizations of the State. The dashboard went live on over 300 official platforms in 21 provinces and 31 cities across China, keeping the public updated on the latest development of the epidemic. Ping An Smart Healthcare also provided AI-based image reading services for over 1,500 medical institutions across China to identify COVID-19. The service takes only 15 seconds on average to issue a single smart analysis. More than 40 million images were analyzed. With respect to payers, Ping An HealthKonnect launched a Smart Social Health Insurance (SHI) Integrated Platform. As of September 30, 2020, Ping An HealthKonnect had won bids to construct SHI platforms for nine provinces, including Qinghai, Hainan, Guangdong and other regions.
In respect of auto services ecosystem, Autohome (NYSE: ATHM) is China’s leading online auto services platform, providing auto consumers with diverse products and services across the entire auto lifecycle. A data-driven business, Autohome is committed to empowering automakers and dealers in terms of research and development and marketing and sales. Autohome successfully held the 818 Global Super Auto Show 2020, which was attended by over 70 brands and over 2,400 auto dealers, receiving wide attention from consumers.
In respect of smart city ecosystem, Ping An’s smart city business empowers city development with technologies in government services, business development, and citizen services. Ping An has developed a portfolio of integrated smart city solutions to fulfill the Company’s mission of serving the country, society, and public. Ping An’s smart city business covers sectors, including government affairs, lifestyle, transportation, health care, and education, with a presence in 143 domestic cities and multiple countries and regions involved in the Belt and Road Initiative. In citizen services, Ping An built an integrated smart citizen service platform to improve the service experience of citizens. As of September 30, 2020, the citizen service platform had attracted nearly 23 million registered users and over 1.5 billion visits since its ‘go-live’.
Looking forward, Ping An said: "Consumer demand for insurance and other financial services have recovered in the short run, but demand was still weaker compared to before the COVID-19 epidemic. Meanwhile, credit risk is rising and the asset management business remains under pressure in terms of quality. However, in the long run, profound changes in the domestic and foreign environment will also bring new opportunities, and further economic growth will be driven by rising potential domestic demand. People’s health awareness will be stronger after the epidemic, and their demand for insurance and other financial services will grow. Moreover, driven by policies and technologies, the health care industry will develop rapidly, bringing increasing upstream and downstream industry growth opportunities. In response to the State’s call, the Company will pursue steady progress, by executing our "finance + technology" and "finance + ecosystem" transformation strategies. By accelerating technological empowerment, the Company will seize new opportunities in industries, including financial services and health care to create greater value for shareholders, customers, and society."
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With over 214 million retail customers and nearly 579 million Internet users, Ping An is one of the largest financial services companies in the world.
Ping An has two over-arching strategies, "pan financial assets" and "pan health care", which focus on the provision of financial and health care services through our integrated financial services platform and ecosystems. Our "finance + technology" and "finance + ecosystem" strategies aim to provide customers and internet users with innovative and simple products and services using technology. As China’s first joint stock insurance company, Ping An is committed to upholding the highest standards of corporate reporting and corporate governance. The Group is listed on the stock exchanges in Hong Kong and Shanghai.
In 2020, Ping An ranked 7th in the Forbes Global 2000 list and ranked 21st in the Fortune Global 500 list. Ping An also ranked 38th in the 2020 WPP Kantar Millward Brown BrandZTM Top 100 Most Valuable Global Brands list. For more information, please visit www.pingan.cn.
Related Links :
Canadian Solar Launches Series 7 Modules of up to 665 W
GUELPH, ON, Oct. 27, 2020 /PRNewswire/ — Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), today launches its Series 7...
TVM Capital Life Science Announces Substantially Oversubscribed US$478 Million Final Closing of TVM Life Science Innovation II, largest fund in the firm’s history
– The Fund continues the proven "Project Focused Company" investment strategy for early-stage drug development candidates – In addition, the Fund...
2020 Baoding Comprehensive Emergency Response Drill of Radiation Incidents Conducted in IT Tech Packaging, Inc.
BAODING, China, Oct. 27, 2020 /PRNewswire/ — IT Tech Packaging, Inc. (NYSE MKT: ITP) ("IT Tech Packaging" or "the Company"),...
Frontrunner Itiviti kicks off cloud transformation of its entire trading infrastructure
STOCKHOLM, Oct. 27, 2020 /PRNewswire/ — Itiviti, a leading technology and service provider to financial institutions worldwide, today announced the...
SKF Nine-month report 2020: Strategy implementation continues to drive strong results
GOTHENBURG, Sweden, Oct. 27, 2020 /PRNewswire/ — Alrik Danielson, President and CEO: "SKF’s transformation into a more customer-focused, innovative and...
Ping An Reports Steady Growth of 4.5% in Operating Profit Attributable to Shareholders of Parent Company in 9M 2020
HONG KONG and SHANGHAI, Oct. 27, 2020 /PRNewswire/ — Ping An Insurance (Group) of Company of China, Ltd. (hereafter "Ping An"...
Essential Bobbleheads – A Thank You Gift for Those Amazing Essential Workers
Kloanz Inc has introduced a line of Essential Worker Bobbleheads to celebrate these amazing men and women who have worked...
Churchill Middle Market Senior Loan Fund Wins “Private Debt – Mid-Market Lending” Award at the 2020 AltCredit US Performance Awards
Churchill Asset Management (Churchill or the Firm), an investment-specialist affiliate of Nuveen providing customized financing solutions to private equity firms...
Baptist Health Engages Kyruus to Enable Next-Generation Online Patient Access Experience
Kyruus, the leader in provider search and scheduling solutions for health systems, today announced that Baptist Health, the largest not-for-profit...
Taiwan’s Sugarcane Straws Explore US Market
TAIPEI, TAIWAN – Media OutReach – 27 October 2020 – Taiwan not only invented bubble tea that has created a...