Fintech PR
Qudian Inc. Reports Third Quarter 2019 Unaudited Financial Results
Qudian Inc. (“Qudian” or the “Company”) (NYSE: QD), a leading technology platform empowering the enhancement of online consumer finance experience in China, today announced its unaudited financial results for the quarter ended Sep 30, 2019.
Third Quarter 2019 Operational Highlights:
- Total number of registered users as of Sep 30, 2019 reached 78.3 million, representing an increase of 11.8% from Sep 30, 2018
- Number of outstanding borrowers[1] from loan book business and transaction services business as of Sep 30, 2019 increased by 3.4% to 6.3 million from 6.1 million as of June 30, 2019
- Cumulative number of borrowers[2] from loan book business and transaction services business as of Sep 30, 2019 increased by 3.6% to 19.0 million from June 30, 2019
- New active borrowers[3] from loan book business and transaction services business for this quarter increased by 15.2% to 669,111 from 580,727 for the third quarter of 2018 as a result of incremental user growth driven by transaction services business
- Total outstanding loan balance including transaction services business[4]as of Sep 30, 2019 increased by 151.2% to RMB38.4 billion from Sep 30, 2018
- Weighted average loan tenure for our loan book business was 10.4 months for this quarter, compared with 8.4 months for the second quarter of 2019; Weighted average loan tenure for transactions serviced on open-platform was 13.0 months for this quarter, compared with 14.1 months for the second quarter of 2019
- Cumulative number of users for transactions serviced on open-platform as of Sep 30, 2019 increased by 153.3% to 1,057,497 from June 30, 2019 Cumulative amount of transactions serviced on open-platform in 2019 was RMB15.7 billion as of Sep 30, 2019
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[1] Outstanding borrowers are borrowers who have outstanding loans as of a particular date, including outstanding borrowers from both loan book business and transaction services business. Transaction services business, relates to various services, including credit assessment, referral and post-origination services, provided through our open-platform, which was launched in the second half of 2018. [2] Cumulative number of borrowers are borrowers who have drawn down credit on or prior to a particular date, on a cumulative basis, including outstanding borrowers from both loan book business and transaction services business. [3] Active borrowers are borrowers who have drawn down credit in the specified period from both loan book business and transaction services business. New active borrowers are active borrowers who had never drawn down credit on our platform prior to the specified period. [4] Includes off and on balance sheet loans directly or indirectly funded by our institutional funding partners or our own capital, net of cumulative write-offs. Includes loan balance facilitated through our open platform to funding partners which Qudian does not undertake credit risks and does not include auto loans from Dabai Auto business. |
Third Quarter 2019 Financial Highlights:
- Total revenues were RMB2,590.9 million (US$362.5 million), increased by 34.3% from same period last year, primarily due to the ramp up of the open-platform initiative
- Loan facilitation income and other related income increased by 72.6% year-on-year to RMB583.3 million (US$81.6 million) from RMB337.9 million for the same period last year
- Transaction services fee and other related income which relate to transaction services and traffic referral services provided by our open-platform, substantially increased to RMB993.3 million (US$139.0 million) from nil for the same period last year
- Financing income decreased by 16.9% to RMB797.9 million (US$111.6 million) from RMB960.2 million for the same period last year as a result of a decrease in average on-balance sheet loan balance
- Net income increased by 52.6% year-on-year to RMB1,043.4 million (US$146.0 million), or RMB3.29 (US$0.46) per diluted ADS
- Non-GAAP net income[5] increased by 52.9% year-on-year to RMB1,061.8million (US$148.6 million), or RMB3.34 (US$0.47) per diluted ADS
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[5] For more information on this Non-GAAP financial measure, please see the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this press release. |
“The third quarter marks our successful evolution to a balance sheet independent, technology services fee driven business. Our transaction services fee overtook as the largest in revenue scale and delivered staggering 150% growth from the previous quarter,” said Mr. Min Luo, Founder, Chairman and Chief Executive Officer of Qudian.
“In the face of a complex and evolving regulatory framework over the past several years we have proven our ability to lead and innovate, creating China’s leading regulatory compliant fintech company. Our past efforts in full compliance with Circular 141, restrained use of micro lending license, complete avoidance of P2P business model, 100% institutional funding base, disciplined approach to collection and respect of our customers’ data privacy have all cumulated to our open platform solution. Our open platform where the licensed and regulated financial institutions lend and assume borrowers risk while QD provides a full suite of transaction services using cutting edge technologies to enhance analytics, user experience, reduce customer acquisition and engagement cost, is likely to be the ultimate form of regulatory compliant fintech in China.”
“Our open platform technology enables high speed precision processing of micro loans while simultaneously syndicating each individual user to multiple lenders. This allows all our lender partners to lower risk while providing enhancement in credit size, allowing open platform to focus on the higher quality borrowers. As of the end of third quarter, our open-platform has bridged over 1,020,940 outstanding borrowers and 11 licensed and, regulated financial institutions, both more than doubling from last quarter. Notably, the repeat borrowing ratio was more than 70% for the quarter, demonstrating strong sustainability and user stickiness trends.”
“As a whole, our registered user base grew to 78.3 million and total outstanding borrowers reached 6.3 million, both the highest in our company’s history, illustrating the sustained demand for our services. With the right high-scale, risk-free and regulatory compliant approach to China’s exciting consumer credit opportunity, we believe Qudian remains best positioned to deliver exceptional financial results and returns to our shareholders for the long term.”
“We delivered another quarter of solid Non-GAAP net income of RMB1,061.8 million, a 52.9% year-over-year increase despite the overall industry credit deterioration driven by the macro economic environment and reduced liquidity as non-complaint player exit the credit market,” said Mr. Carl Yeung, Chief Financial Officer of Qudian. “Continuing last quarter’s momentum, our open-platform initiative has become the main growth and profit driver, generating RMB993.3 million revenue for the third quarter, which represents over 90% of our net profit, further boosting our bottom line, as it carries little marginal operational cost and zero credit risk.”
“Attracted by our affordable and seamless product offering, more than 669,000 new borrowers joined the platform with minimal acquisition costs. Our total loan balance including the risk-free open platform business has grown further to RMB38.4 billion, solidifying our strong execution capabilities to drive business development and focus on the higher quality borrowers. Building on the innovation in our open-platform, we will continue to pursue our tech-driven growth strategy to connect China’s over 300 million creditworthy but underserved consumers to more than 5,000 licensed domestic financial institutions.”
“In our risk undertaking business, we implemented a conservative strategy of reducing credit volumes and paused our credit trial program. Our proactive and prompt management of macro driven risk was effective in stabilizing the delinquency rates. To enhance comparability to peers and transparency in our disclosures, our M6+ vintage charge-off rates measured by current receivables at risk stayed below 1.6%. Although risk remains well managed, we believe the recent exit of many smaller players may create further credit liquidity pressure for the Chinese consumption credit sector. As such, we expect to continue a conservative approach on our risk-taking book into the final quarter of 2019 and thus revise our full year guidance accordingly.”
“Given a large disconnect between the strong momentum in our open-platform and risk-free fee based business model and the market value of our company which is near net assets, we have announced another US$195 million of shares under our forward stock repurchase program, bringing our total buyback amount to US$572 million since we became a public company. This reflects our confidence in Qudian’s growth prospects and upholds our commitment to creating shareholder value.”
Third Quarter Financial Results
Total revenues were RMB2,590.9 million (US$362.5 million), increased by 34.3% from RMB1,928.9 million for the third quarter of 2018.
Financing income totaled RMB797.9 million (US$111.6 million), a decrease of 16.9% from RMB960.2 million for the third quarter of 2018, as a result of a decrease in average on-balance sheet loan balance.
Loan facilitation income and other related income increased by 72.6% to RMB583.3 million (US$81.6 million) from RMB337.9 million for the third quarter of 2018, as a result of an increase in the amount of off-balance sheet transactions.
Transaction services fee and other related income substantially increased to RMB993.3 million (US$139.0 million) from nil in the third quarter of 2018, as a result of the ramp-up of the open-platform initiative.
Sales income substantially decreased to RMB135.5 million (US$19.0 million) from RMB586.1 million for the third quarter of 2018, due to the scaling down of the Dabai Auto business.
Sales commission fee increased by 96.0% to RMB69.9 million (US$9.8 million) from RMB35.7 million for the third quarter of 2018, due to an increase in the margins for merchandise credit products.
Total operating costs and expenses increased by 14.0% to RMB1,400.8 million (US$196.0 million) from RMB1,229.0 million for the third quarter of 2018.
Cost of revenues decreased by 70.5% to RMB206.3 million (US$28.9 million) from RMB698.5 million for the third quarter of 2018, primarily due to a decrease in costs incurred by the Dabai Auto business and a decrease in funding costs associated with the on-balance sheet portion of our loan book business.
Sales and marketing expenses decreased by 45.4% to RMB65.5 million (US$9.2 million) from RMB120.1 million for the third quarter of 2018. The decrease was primarily due to the scaling down of the Dabai Auto business.
General and administrative expenses increased by 34.9% to RMB65.1 million (US$9.1 million) from RMB48.2 million for the third quarter of 2018. The increase was primarily due to an increase in service fees.
Research and development expenses increased by 7.0% to RMB44.1 million (US$6.2 million) from RMB41.2 million for the third quarter of 2018.
Provision for receivables increased by 136.4% to RMB691.1 million (US$96.7 million) from RMB292.4 million for the third quarter of 2018. The increase was primarily due to an increase in past-due on-balance sheet outstanding principal receivables compared to the third quarter of 2018 and a write-down relating to the Dabai Auto business of RMB42.7 million (US$6.0 million).
As of Sep 30, 2019, the total balance of outstanding principal and financing service fee receivables for on-balance sheet transactions for which any installment payment was more than 30 calendar days past due was RMB970.6 million (US$135.8 million), and the balance of allowance for principal and financing service fee receivables at the end of the period was RMB1,184.5 million (US$165.7 million), indicating M1+ Delinquency Coverage Ratio of 1.2x.
The following charts display “vintage charge-off rate.” Total potential receivables at risk vintage charge-off rate refers to, with respect to on- and off-balance sheet transactions facilitated during a specified time period, the total potential outstanding principal balance of the transactions that are delinquent for more than 180 days during such period, divided by the total initial principal of the transactions facilitated in such vintage.
Current receivables at risk vintage charge-off rate refers to, with respect to on- and off-balance sheet transactions facilitated during a specified time period, actual outstanding principal balance of the transactions that are delinquent for more than 180 days during such period, divided by the total initial principal of the transactions facilitated in such vintage.
Total potential receivables at risk M1+ delinquency rate by vintage refers to, with respect to on- and off-balance sheet transactions facilitated during a specified time period, the total potential outstanding principal balance of the transactions that are delinquent for more than 30 days during such period, divided by the total initial principal of the transactions facilitated in such vintage.
Current receivables at risk M1+ delinquency rate by vintage refers to, with respect to on- and off-balance sheet transactions facilitated during a specified time period, the actual outstanding principal balance of the transactions that are delinquent for more than 30 days during such period, divided by the total initial principal of the transactions facilitated in such vintage.
Income from operations increased by 73.5% to RMB1,219.6 million (US$170.6 million) from RMB702.8 million for the third quarter of 2018.
Net income attributable to Qudian’s shareholders increased by 52.6% to RMB1,043.4 million (US$146.0 million), or RMB3.29 (US$0.46) per diluted ADS.
Non-GAAP net income attributable to Qudian’s shareholders increased by 52.9% to RMB1,061.8 million (US$148.6 million), or RMB3.34 (US$0.47) per diluted ADS.
Cash Flow
As of Sep 30, 2019, the Company had cash and cash equivalents of RMB2,656.1 million (US$371.6 million) and restricted cash of RMB981.6 million (US$137.3 million). Restricted cash mainly represents (i) cash held by the consolidated trusts through segregated bank accounts; (ii) time deposits that are pledged for short-term bank loans; and (iii) security deposits held in designated bank accounts for guarantee of off-balance sheet transactions. Such restricted cash is not available to fund the general liquidity needs of the Company.
For the quarter ended Sep 30, 2019, net cash provided by operating activities was RMB1,670.9 million (US$233.8 million), mainly attributable to net income of RMB1,043.4 million (US$146.0 million), adjustment of provision for receivables of RMB691.1 million (US$96.7 million). Net cash provided by investing activities was RMB438.6 million (US$61.4 million), mainly due to proceeds from collection of loan principal of RMB5,779.4 million (US$808.6 million), partially offset by payments to originate loan principal of RMB5,279.4 million (US$738.6 million). Net cash used in financing activities was RMB1,919.4 million (US$268.5 million), mainly due to repayments of borrowings of RMB2,752.5 million (US$385.1 million) and prepayment of forward purchases of RMB1,383.1 million (US$193.5 million), partially offset by net proceeds from convertible senior notes of RMB2,389.0 million (US$334.2 million).
Board Member Changes
We also announced today the replacement of Mr. Lianzhu Lv from Qudian’s Board of Directors by Mr. Long Xu, Qudian’s Senior Vice President.
With extensive experience managing startups, Mr. Xu joined Qudian, Inc. in 2016 and has focused on key operations including products, human resources and customer engagement. Mr. Lv will remain as key management of the company focusing on administration.
Outlook
Due to recent strategy for the company to reduce risk-taking loan balance and focus on higher quality borrowers via open-platform, the Company has adjusted its expected total Non-GAAP net income for the full year of 2019 to RMB4.0 billion, which will represent an approximately 57% increase from RMB2.55 billion for 2018.
The above outlook is based on current market conditions and reflects the Company’s preliminary expectations as to market conditions, its regulatory and operating environment, as well as customer demand, all of which are subject to change.
Qudian to Hold Annual General Meeting on December 30, 2019
Qudian announced that it will hold its annual general meeting of shareholders (the “AGM”) at Level 39, Tower A, AVIC Zijin Plaza, Siming District, Xiamen, Fujian Province, China, on December 30, 2019 at 11:00AM (Beijing / Hong Kong Time). No proposal will be submitted to shareholders for approval at the AGM. Instead, the AGM will serve as an open forum for shareholders and holders of the Company’s ADSs to discuss the Company’s affairs with management. The chairman of the AGM will conduct and lead the AGM and may accept questions from shareholders at his sole and absolute discretion.
The board of directors of the Company has fixed the close of business on December 6, 2019 (Eastern Standard Time) as the record date (the “Record Date”) for determining the shareholders entitled to receive notice of and attend the AGM or any adjournment or postponement thereof.
Holders of record of the ordinary shares, par value US$0.0001 per share, of the Company (the “Ordinary Shares”), at the close of business on the Record Date are entitled to attend the AGM and any adjournment or postponement thereof in person.
The notice of the annual general meeting is available on the Company’s website at http://ir.qudian.com. The Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2018 with the U.S. Securities and Exchange Commission (the “SEC”) on April 15, 2019. Holders of the Ordinary Shares and the Company’s American depositary shares may obtain a copy of the Company’s annual report on Form 20-F, free of charge, from the Company’s website at http://ir.qudian.com, or from the website of the U.S. Securities and Exchange Commission at http://www.sec.gov, or by contacting Qudian at Level 39, Tower A, AVIC Zijin Plaza, Siming District, Xiamen, Fujian Province, China, attention: Mr. Ben Zhao, email: [email protected].
SOURCE Qudian Inc.
Fintech PR
Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore
SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving India–Singapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.
Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.
Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”
The event brought together a distinguished array of participants, highlighting the transformative potential of India–Singapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.
Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.
The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.
For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.
Photo: https://mma.prnewswire.com/media/2565374/Synapse_2024.jpg
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OTTAWA, ON, Nov. 22, 2024 /PRNewswire/ — The Royal Canadian Mint (the “Mint”) announces its financial results for the third quarter of 2024 that provide insight into its activities, the markets influencing its businesses and its expectations for the next 12 months.
“As the markets continue to change, the Mint is proving its ability to seize on new opportunities thanks to its diversified structure and flexible business strategy” said Marie Lemay, President and CEO of the Royal Canadian Mint.
The financial results should be read in conjunction with the Mint’s annual report available at www.mint.ca . All monetary amounts are expressed in Canadian dollars, unless otherwise indicated.
Financial and Operational Highlights
- The financial results for the third quarter of 2024 were ahead of target and higher than 2023 levels. Higher gold market pricing and foreign circulation volumes combined with lower fixed costs were the main drivers for the quarter over quarter increase. These increases were partially offset by lower than expected bullion volumes from the continued soft demand in the global bullion market. The Mint expects to meet its financial goals for 2024, as set out in its 2024-2028 Corporate Plan, the Mint’s Leadership team continues to actively monitor its status.
- Consolidated revenue decreased to $252.7 million in 2024 (2023 – $360.6 million).
Revenue from the Precious Metals business decreased to $217.6 million in 2024
(2023 – $328.4 million):- Gold bullion volumes decreased 38% quarter over quarter to 106.1 thousand ounces (2023 – 170.1 thousand ounces) while silver bullion volumes decreased 20% to 2.7 million ounces (2023 – 3.4 million ounces).
- Gold and silver market prices increased quarter over quarter by 27% and 23%, respectively.
- Sales of numismatic products decreased 12% quarter over quarter mainly due to the high demand in 2023 for the Queen Elizabeth II’s Reign products.
- Revenue from the Circulation business increased to $35.1 million in 2024
(2023 – $32.2 million):- Revenue from the Foreign Circulation business increased 77% quarter over quarter, a reflection of higher volumes produced and shipped in 2024 as compared to 2023.
- Revenue from Canadian coin circulation products and services decreased 12% quarter over quarter as fewer coins were required to replenish inventories, combined with lower program fees in accordance with the memorandum of understanding with the Department of Finance.
- Overall, operating expenses decreased 27% quarter over quarter to $28.3 million (2023 – $36.0 million) mainly due to planned reductions in consulting and workforce expenses.
Consolidated results and financial performance
(in millions)
|
13 weeks ended |
39 weeks ended |
|||||||||||
|
Change |
Change |
|||||||||||
|
September |
September |
$ |
% |
September |
September 30, 2023 |
$ |
% |
|||||
|
Revenue |
$ |
252.7 |
$ 360.6 |
(107.9) |
(30) |
$ 861.2 |
$ 1,841.8 |
(980.6) |
(53) |
|||
|
Profit (loss) for the period |
$ |
5.7 |
$ (5.8) |
11.5 |
(198) |
$ 24.1 |
$ 15.0 |
9.1 |
61 |
|||
|
Profit (loss) before |
$ |
1.4 |
$ (8.7) |
10.1 |
(116) |
$ 12.3 |
$ 23.4 |
(11.1) |
(47) |
|||
|
Profit (loss) before |
0.6 % |
(2.4) % |
1.4 % |
1.3 % |
||||||||
|
(1) Profit (loss) before income tax and other items is a non-GAAP financial measure. A reconciliation from profit for the period to profit before income tax and other items is included on page 13 of the Mint’s 2024 Third Quarter Report. |
|
(2) Profit (loss) before income tax and other items margin is a non-GAAP financial measure and its calculation is based on profit before income tax and other items. |
|
As at |
||||||||||
|
September 28, 2024 |
December 31, 2023 |
$ Change |
% Change |
|||||||
|
Cash |
$ |
58.4 |
$ |
59.8 |
(1.4) |
(2) |
||||
|
Inventories |
$ |
71.5 |
$ |
68.8 |
2.7 |
4 |
||||
|
Capital assets |
$ |
174.2 |
$ |
173.0 |
1.2 |
1 |
||||
|
Total assets |
$ |
376.8 |
$ |
380.4 |
(3.6) |
(1) |
||||
|
Working capital |
$ |
99.2 |
$ |
97.8 |
1.4 |
1 |
||||
As part of its enterprise risk management program, the Mint continues to actively monitor its global supply chain and logistics networks in support of its continued operations. Despite its best efforts, the Mint expects changes in the macro-economic environment and other external events around the globe to continue to impact its performance in 2024. The Mint continues to mitigate potential risks as they arise through its enterprise risk management process.
To read more of the Mint’s Third Quarter Report for 2024, please visit www.mint.ca.
About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada’s prestigious military and civilian honours. As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services. As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations.
For more information on the Mint, its products and services, visit www.mint.ca. Follow the Mint on LinkedIn, Facebook and Instagram.
FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES
This Earnings Release contains non-GAAP financial measures that are clearly denoted where presented. Non-GAAP financial measures are not standardized under International Financial Reporting Standards (IFRS) and might not be comparable to similar financial measures disclosed by other corporations reporting under IFRS.
This Earnings Release contains forward-looking statements that reflect management’s expectations regarding the Mint’s objectives, plans, strategies, future growth, results of operations, performance, and business prospects and opportunities. Forward-looking statements are typically identified by words or phrases such as “plans”, “anticipates”, “expects”, “believes”, “estimates”, “intends”, and other similar expressions. These forward-looking statements are not facts, but only estimates regarding expected growth, results of operations, performance, business prospects and opportunities (assumptions). While management considers these assumptions to be reasonable based on available information, they may prove to be incorrect. These estimates of future results are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what the Mint expects. These risks, uncertainties and other factors include, but are not limited to, those risks and uncertainties set forth in the Risks to Performance section of the Management Discussion and Analysis in the Mint’s 2023 annual report, as well as in Note 9 – Financial Instruments and Financial Risk Management to the Mint’s Audited Consolidated Financial Statements for the year ended December 31, 2023. The forward-looking statements included in this Earnings Release are made only as of November 20, 2024 and the Mint does not undertake to publicly update these statements to reflect new information, future events or changes in circumstances or for any other reason after this date.
For more information, please contact: Alex Reeves, Senior Manager, Public Affairs, Tel: (613) 884-6370, [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/royal-canadian-mint-reports-profits-and-performance-for-q3-2024-302314428.html
Fintech PR
OIVE and ViniPortugal celebrate closing of joint campaign that reached 100 million consumers
MADRID and PORTO, Portugal, Nov. 22, 2024 /PRNewswire/ — For three years, A Shared Passion showed European consumers the quality and unparalleled versatility of Iberian wines. The program reached over 100 million consumers with advertising in airports, train stations, press trips, digital content, and other actions with opinion leaders.
The wine interprofessionals of Spain (OIVE) and Portugal (ViniPortugal) celebrated the closing of their ambitious joint campaign A Shared Passion with flagship events in Madrid and Porto. The closing event in Spain took place in Madrid’s iconic Calle Alcalá, while in Portugal, the World of Wine (WOW) in Porto was the perfect setting to present the achievements of the international collaboration. Both ceremonies were very well received by the press and the wine sector, highlighting the impact of the promotional actions that reached more than 79.2 million travelers in key transport infrastructures.
The campaign included 22 study trips, taking 150 specialized journalists to explore the world of wine in both countries and generating publications that reached nearly 15 million European consumers.
On social media, the A Shared Passion profile on Instagram exceeded 15,000 followers, consolidating its presence in the digital sphere. In addition, exclusive activities such as workshops and VIP dinners contributed significantly to this initiative’s global impact.
The final events were honored by the presence of opinion leaders, such as Masters of Wine Pedro Ballesteros and Dirceu Vianna Júnior, who moderated round tables with the presidents of OIVE, Fernando Ezquerro, and ViniPortugal, Frederico Falcão. The conference concluded with masterclasses that highlighted Spain and Portugal’s extraordinary oenological diversity, reinforcing the relevance of the sector in the economic, social, and environmental sustainability of both countries.
With funding from the European Union, A Shared Passion highlighted not only the quality and authenticity of Iberian wines but also their strategic role in the sustainable development of numerous municipalities. This initiative underlines the passion with which Spanish and Portuguese wines are made, reflecting their rich traditions and commitment to the future.
For more information: www.asharedpassion.com
Video: https://mma.prnewswire.com/media/2565600/ViniPortugal_and_OIVE.mp4
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