BEIJING, Dec. 20, 2024 /PRNewswire/ — In 2014, Lei Zhen, a graduate from Tsinghua University in Beijing, chose to settle in the Macao Special Administrative Region (SAR). He decided to start his business in Zhuhai, south China’s Guangdong Province, and make the innovative application of new materials with nano silver wire its core product.

When the central government established the Guangdong-Macao In-Depth Cooperation Zone in Hengqin in 2021, Lei relocated his company there, making full use of Macao and Hengqin’s capital, talent and taxation advantages to scale up production.

“Hengqin has a vast industrial space and a good supporting environment, which can provide a broad stage for the development of Macao’s high-tech and diversified industries,” he said.

Today, the cooperation zone has become a hub for innovation and entrepreneurship, hosting nearly 6,500 Macao-invested enterprises and providing a platform for new industries.

“Macao plus Hengqin” is becoming a new demonstration to enhance the practice of “One Country, Two Systems,” a new highland to promote the building of the Guangdong-Hong Kong-Macao Greater Bay Area, and a new platform to realize the country’s high-level opening up, said Chinese President Xi Jinping during an inspection tour of the cooperation zone on Thursday as part of his three-day visit to the Macao SAR.

New highland for innovation

Hengqin is located at the southern tip of Zhuhai and is separated from Macao by a narrow stretch of water. Since its establishment, the cooperation zone has served as a vital platform for promoting Macao’s appropriate economic diversification.

It has enabled Macao to develop industries such as high-end manufacturing, traditional Chinese medicine, financial services, and cultural tourism. Today, the cooperation zone is home to 30 national and provincial-level technological innovation platforms, 268 national high-tech enterprises, and 41 provincial-level specialized and sophisticated enterprises.

Currently, the cooperation zone has established innovation platforms, such as the Macao-Hengqin Youth Entrepreneurship Valley, and has drawn several innovative resources, such as industry-university-research bases of Macao universities and high-tech enterprises and talents.

Hailing the progress made in the cooperation zone, President Xi said the level of integration between Hengqin and Macao has gradually improved and that its role of supporting Macao’s appropriate economic diversification is becoming prominent.

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In recent years, the Macao SAR has also promoted the implementation of major sci-tech projects and important innovation platforms locally, making it a new technological platform for global innovation and a gathering place for talents.

“Macao Science 1” is the first space science satellite program jointly developed by the Chinese mainland and Macao. With the highest accuracy of geomagnetic field detection in China, the satellite will significantly improve the country’s space magnetic survey.

Visiting the Macau University of Science and Technology (MUST) on Thursday, Xi said the satellite is an example of deepened high-tech cooperation between Macao and the mainland, showcasing Macao’s sci-tech sector’s outstanding innovative and creative capabilities.

Cultivating young talents

The Macao SAR has also become an ideal place for entrepreneurs thanks to its open business environment and the opportunities provided by the cooperation zone.

Today, industry-university-research demonstration bases of the University of Macau and MUST have been established in Hengqin, and four state key laboratories in Macao have set up branches in the zone, carrying out the transformation and industrialization of university scientific and technological achievements.

As of November 2024, Hengqin had incubated 898 entrepreneurship projects for young people from Hong Kong and Macao, with 815 projects from Macao.

Meeting with Macao residents living in Hengqin and young entrepreneurs from Macao who have startups in the zone, President Xi emphasized that Hengqin’s development provides great opportunities for Macao’s youth to achieve their ambitions and expressed hope that more young people from Macao will build remarkable careers there.

“The building of the cooperation zone is reshaping the regional concepts and career plans of Macao youth. The younger generation is paying more attention to the development potential of the mainland’s vast market,” said Ip Kuai Peng, vice rector of the City University of Macau.

It is imperative to attach great importance to education from a strategic perspective, lay out the system of disciplines, and cultivate high-quality talents to meet the needs of the development of both the country and the Macao SAR, President Xi said during his visit to MUST.

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SEOUL, South Korea, Dec. 20, 2024 /PRNewswire/ — The Korea Startup Forum (KSF, Chairman Sangwoo Han) announced that COMEUP 2024, held on December 11 and 12 at COEX in Seoul, successfully concluded. The event welcomed startups, investors, global corporations, aspiring entrepreneurs, and the general public from 45 countries, establishing its international reputation.

Approximately 260 startups from 45 countries participated, with over half being international companies. National pavilions from the UAE, India, Japan, and Sweden showcased technologies, while 120 startups from 21 countries, including Germany, Austria, Sweden, and South Africa, engaged in pitching sessions, exhibitions, and networking events. Organizations like the International Trade Center (ITC) and the Africa Development Bank (AfDB) also participated.

COMEUP 2024 focused on global tech ecosystem trends such as deep tech, inbound innovation, and sustainable innovation (SIS). On December 11, Qamar Aftab from Wa’ed Ventures and Sunghyun Park from Rebellions discussed cross-border innovation. On December 12, SooJong Kim, CEO of INNOSPACE, spoke about opportunities in the space industry, drawing significant attention.

The public IR pitching event Startup Valley crowned Toonimotion, Foretell My Health, and POSCORE as Rookie League winners, securing their spots at Viva Technology 2025 in France. Other notable finalists included CUBIG, ZETIC.ai, and Tublet Korea, which are recognized for advancements in fields like AI and cybersecurity.

The Open Innovation Ground program facilitated collaborations between startups and companies like Microsoft, NVIDIA, Hyundai Motor, and Siemens. Customized matchmaking sessions featured expert talks on global expansion and funding, while the On the COMEUP platform enabled 1,900 successful business matches, nearly doubling last year’s record.

The Inbound Innovation track spotlighted foreign startups, including AiMA Beyond AI, a Spanish company developing AI-powered digital human solutions, which gained attention for its innovations and market entry efforts in Korea.

Sangwoo Han, Chairman of the Korea Startup Forum, stated, “COMEUP 2024 has become a global festival where startups and investors worldwide collaborate, break innovation boundaries, and shape the future. We will continue supporting startups in taking on new challenges and achieving global success.”

COMEUP 2024 highlights and replays are available on its official YouTube channel.

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SÃO PAULO, Dec. 19, 2024 /PRNewswire/ — Sendas Distribuidora S.A. (B3: ASAI3; NYSE: ASAI) (“Company”) announces that the Company’s Board of Directors approved at the meeting held on this date, the intention of the Company to proceed with the voluntary delisting of its American Depositary Shares (“ADSs”), each representing five common shares of the Company and represented by American Depositary Receipts (“ADRs”), from the New York Stock Exchange (“NYSE”) (“Delisting”), including the change of the Company’s ADR program to Level 1, in order to enable investors to maintain ownership of their ADSs, which may be traded on over-the-counter markets after the Delisting, as applicable, and deregistration with the United States Securities and Exchange Commission (“SEC”), once the Company complies with the applicable deregistration requirements.

The Company clarifies that the application for listing and admission to trading of its common shares on the Novo Mercado segment of B3 S.A. – Brasil, Bolsa, Balcão (“Novo Mercado”) and the application to list its ADSs on the NYSE were granted in February 2021 in the context of the corporate reorganization involving the Company and Companhia Brasileira de Distribuição (GPA), as disclosed to the market in general at the time.

However, the Company considers that maintaining a secondary listing on the NYSE is not currently beneficial, given that trading of the Company’s common shares is predominantly concentrated (around 87%) on the Novo Mercado. The Delisting is in line with the Company’s long-term strategy of maintaining efficient operations, given the low cost characteristic of the Company (“low-cost company”).

Accordingly, the Company intends to file a Form 25 with the SEC in due course seeking to make the Delisting effective by January 9, 2025. The Company expects immediately following the Delisting, the ADSs will begin to trade over-the-counter. Thereafter, if and when the requirements are met, the Company will file a Form 15F with the SEC to deregister and terminate its disclosure obligations under the Securities and Exchange Act of 1934, as amended. The Company reserves the right, for any reason and at any time, to postpone or cancel the filings of Forms 25 and 15F or otherwise modify its plans with respect to this matter

Finally, the Company clarifies that: (i) its common shares will continue to be listed and admitted to trading in Brazil, on the Novo Mercado, which is its primary trading market, maintaining all periodic and occasional disclosures required by applicable Brazilian regulations; and (ii) committed to high standards of governance, even after the effectiveness 2 of the Delisting and the deregistration with SEC, the Company will voluntarily maintain its current corporate governance practices.

The Company will keep its shareholders and the market in general informed of any material updates regarding the matters mentioned herein.

Important Notice Regarding Forward-Looking Statements:

This press release contains forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to Sendas Distribuidora S.A., are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forwardlooking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

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