Fintech PR
Qiming Venture Partners’ Portfolio Company UBTech Listed on Hong Kong Stock Exchange
- UBTech is the first humanoid robot company to go public on HKEx
- Qiming is UBTech’s early institutional investor, exclusively investing in its Series A round in 2015
- UBTech’s listing is Qiming’s eighth IPO in 2023
SHANGHAI, Dec. 29, 2023 /PRNewswire/ — Qiming Venture Partners’ portfolio company UBTech, a humanoid robot leader in China, successfully debuted on the Hong Kong Stock Exchange today. The first humanoid robot company to list on the exchange, UBTech (SEHK:9880)’s issue price was HK$90.00 per share, valuing it at HK$37.60 billion.
At the listing ceremony, Panda Robot Youyou took to the stage and presented a mallet to Zhou Jian, Chairman, Executive Director, and CEO of UBTECH. In a pioneering move, Zhou Jian and UBTECH’s newest generation of industrial humanoid robot Walker S, holding another mallet, jointly hit the ceremonial gong, which has made a footnote in history and symbolically ushered an era of human-robot synergy.
As an early institutional investor in UBTech, Qiming has been a key supporter since exclusively investing in its Series A financing in 2015. The successful listing also marks the eighth IPO for Qiming in 2023.
Established in March 2012, UBTech is one of the few market players in the global humanoid robot industry. The company is dedicated to the research and development of humanoid robots, and design, production, and commercialization of smart service robot solutions. Notably, UBTech was among the first to commercialize while the sector was still at a nascent stage.
From 2020 to the first half of 2023, UBTech’s R&D expenditures account for an average of 56.5% of total revenue. The company holds over 1,800 registered robotic and AI-related patents as of June 30, 2023, including more than 900 invention patents and over 380 overseas patents. UBTech’s full-stack technology combines robotic technologies (robotic motion planning and control technology and servo actuators) and AI technologies (computer vision and voice interaction technologies), powering a range of integrated robotic and AI technologies (SLAM and autonomous technology, visual servo operation, and human-robot interaction), controlled through the self-developed Robot Operating System Application Framework (ROSA).
Leveraging advanced humanoid robot technologies, UBTech offers products and services across five main areas in AI education, smart logistics, smart wellness and elderly care, commercial services, and consumer-level robots. As of December 10, 2023, UBTech has served a broad customer base primarily in China and over 50 other countries and regions globally, with more than 900 corporate clients and over 760,000 units of robotic products sold during its track record period.
“In the field of hard & core technology, it’s essential for entrepreneurs to strike a balance between what’s technically possible and what the market needs. I am deeply convinced of the substantial and real market need for humanoid robots. Regardless of whether it takes ten or thirty years, we are committed to realizing our goals.” Said Zhou Jian, “Therefore, it is crucial for entrepreneurs to collaborate with investors who share a similar vision and focus on fostering long-term value. In this regard, Qiming Venture Partners has made a worthy example.”
Duane Kuang, Founding Managing Partner of Qiming Venture Partners, said, “Mr. Zhou’s commitment to the humanoid robot industry and his entrepreneurial drive to overcome challenges have impressed us from the start. We are proud to have supported UBTech’s journey to the IPO. Qiming is optimistic about the future of AI and humanoid robots, and we are bullish on Chinese entrepreneurs and companies who dare to innovate and break new grounds in these sectors.”
About Qiming Venture Partners
Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong in China and Singapore.
Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.5 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.
Since our debut, we have backed over 530 fast-growing and innovative companies. Over 200 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 70 portfolio companies that have achieved unicorn or super unicorn status. Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, UBTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology, among many others.
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Lending revenue dips against backdrop of record-high indices
NEW YORK, Jan. 2, 2025 /PRNewswire/ — The global securities finance industry generated $9.64 billion in revenue for lenders in 2024, according to DataLend, the market data service of fintech EquiLend. The figure represents a 10.3% decrease from the $10.74 billion generated in 2023.
Global broker-to-broker activity, where broker-dealers lend and borrow securities from each other, totaled an additional $2.57 billion in revenue for 2024, a 9.9% decrease from 2023.
Equity lending revenues fell 13% globally, with North America revenue declining 15% and EMEA revenue dropping 24%. In North America, the cause for the revenue decline was a 19% decrease in average fees, while in EMEA, fees and balances decreased 16% and 11%, respectively. Equity lending revenues in APAC were largely flat year-over-year.
Global sovereign debt revenue increased by 8% over 2023, with U.S. treasuries making up the lion’s share of the gains. Treasuries were up 16% year-over-year, driven by a 14% growth in balances.
In corporate debt lending, global revenue declined by 21% as a regression from a record 2023 continued. Fees were the main culprit, with a steep 29% decrease driving the year-over-year decline in revenue.
The top five earning securities in 2024 were Sirius XM Holdings (SIRI US), Lucid Group (LCID US), Beyond Meat Inc. (BYND US), Tempus AI Inc. (TEM US) and Trump Media & Technology Group (DJT US). The five securities in total generated $644 million for lenders over the course of 2024, a significant dip from the $1.11 billion generated by 2023’s top five earners.
Bloomberg Terminal users can subscribe to EquiLend’s exclusive Orbisa securities lending data by entering terminal shortcut APPS ORBISA About DataLend About EquiLend Logo – https://mma.prnewswire.com/media/1060364/EquiLend_Logo.jpg
DataLend, the market data service within EquiLend’s Data & Analytics Solutions group, tracks daily market movements across more than 200,000 securities, covering $35 trillion in lendable assets and $2.6 trillion in on-loan assets for the securities finance market. www.datalend.com
EquiLend is a global financial technology firm offering Trading, Post-Trade, Data & Analytics, RegTech and Platform Solutions for the securities finance industry. EquiLend has offices in North America, EMEA and Asia-Pacific and is regulated in jurisdictions around the globe. www.equilend.com
View original content:https://www.prnewswire.co.uk/news-releases/datalend-2024-securities-lending-revenue-down-10-yoy-to-9-64-billion-302341418.html
NEW YORK, Jan. 2, 2025 /PRNewswire/ — In a dynamic and increasingly complex business environment, small businesses across the USA are experiencing a growing need for expert financial management solutions. Bookkeeping in USA, a critical yet often overlooked business function, is proving essential for companies striving to stay competitive, compliant, and efficient.
Recent studies highlight the importance of tailored bookkeeping solutions to address challenges such as fluctuating tax laws, rising operational costs, and stringent compliance requirements. The demand for professional bookkeeping services in USA has surged, showcasing their role in fostering small business resilience and growth.
Click here: Get 50% Off and Simplify Your Bookkeeping USA
The Role of Bookkeeping in Small Business Success
Bookkeeping in USA offers small business owners’ clarity and control over their financial health. As the business landscape evolves, it is becoming a strategic necessity rather than just a support function. Challenges like tax compliance, cash flow management, and accurate financial reporting require dedicated expertise, which many small business owners find daunting to handle independently.
Insights from Industry Experts
“Small businesses are the backbone of our economy, and they deserve tools that empower them to succeed,” says Ajay Mehta, CEO of IBN Technologies. “Bookkeeping services enable entrepreneurs to focus on their strengths while ensuring their financial bases are secure.”
IBN Technologies has positioned itself as a leader in this space, offering streamlined bookkeeping services that align with industry standards and leverage cutting-edge technology. The company’s solutions are designed to help businesses avoid costly financial missteps, manage cash flow effectively, and maintain compliance with ever-changing regulations.
Modernizing Bookkeeping with Technology
The adoption of cloud-based bookkeeping solutions marks a transformative step forward for small businesses. Real-time access to financial data, enhanced security, and seamless collaboration between business owners and financial experts have made these tools indispensable. IBN Technologies integrates state-of-the-art technology into its services, ensuring clients can monitor their finances anytime, anywhere.
Addressing Tax Compliance and Financial Challenges
One of the most significant challenges for small businesses in the USA is navigating the complex web of federal and state tax laws. IBN Technologies specializes in offering tax-ready to serve bookkeeping in USA that not only mitigate the risk of audits but also identify potential tax savings. This dual approach has enabled many businesses to achieve better financial outcomes while reducing stress.
About IBN Technologies
IBN Technologies LLC, an outsourcing specialist with 25 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive efficiency and growth.
Contact Details:
Pradip
[email protected]
+1 – 844 – 644 – 8440
USA:
IBN Technologies LLC
66 West Flagler Street Suite 900 Miami, FL 33130
India: Global Delivery Centre
IBN Technologies Limited
Kohinoor House, 2nd floor,
691/A/1B, Plot no. 7,
Bibwewadi Road, Pune-411037
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View original content:https://www.prnewswire.co.uk/news-releases/bookkeeping-in-usa-empower-business-growth-and-success-with-ibn-technologies-302341224.html
Fintech PR
CUBE COMPLETES ACQUISITION OF THOMSON REUTERS REGULATORY INTELLIGENCE AND ODEN BUSINESSES
- Acquisition delivers an expanded customer base with a deep global subject matter expertise network that further powers CUBE’s RegBrain AI across its industry proven SaaS RegPlatform™
- CUBE continues to see strong organic customer growth in its well-established enterprise sector whilst also accelerating growth across the mid-market sector
- 2024 was a year of strategic milestones for CUBE including the partnership with Hg, expanding its global footprint across six main hubs, the acquisition of Reg-Room and Thomson Reuters Regulatory Intelligence and Oden businesses, together with pivotal board and executive appointments
LONDON, Jan. 2, 2025 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), has today formally announced the completion of its acquisition of the Thomson Reuters Regulatory Intelligence and Oden businesses on 31 December 2024.
The acquisition of these global businesses is another step forward in CUBE’s growth plans as a leader in regulatory intelligence. It will supplement and enhance CUBE’s ability to deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s global customer base will expand to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s Founder and CEO, Ben Richmond, said: “The completion of this acquisition is a major milestone for CUBE in a year that has seen many important milestones including our strategic partnership with Hg, the acquisition of Reg-Room, and the acquisition of Thomson Reuters Regulatory Intelligence and Oden businesses.”
“Thomson Reuters is best known in the industry for providing regulatory analysis and subject matter expertise combined with world-leading journalism and news,” said Ben Richmond. “The powerful combination of CUBE’s AI and the years of human generated content curated by Thomson Reuters Regulatory Intelligence and Oden subject matter experts sets us apart in the industry. This new dimension at CUBE will accelerate innovation and drive further growth and opportunity in 2025 and beyond.”
Following the announcement of its strategic partnership with Hg in March 2024, CUBE has now completed two transformational US-based acquisitions across three businesses whilst continuing to assemble a highly experienced executive team. CUBE’s continued impressive growth saw its presence in the enterprise sector surpassing 200 customers and now represents around 40% of Tier 1 financial institutions globally. In the mid-market sector, serving small and medium sized enterprises, CUBE now has near 800 customers.
With this growth CUBE solidified its global footprint by establishing offices across its six main hubs focused on customer support and implementation; with the number of employees at CUBE doubling to near 700 and a comparable increase in the number of countries where CUBE’s employees are located, which now totals 15 countries.
Ben Richmond said: “We are excited to welcome all of our new colleagues to CUBE – 2025 promises to be yet another significant year for the business as we continue to deliver further innovation focused on automating regulatory compliance and risk management for our customers.”
The definitive agreement was originally announced in May 2024 and terms were not disclosed.
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View original content:https://www.prnewswire.co.uk/news-releases/cube-completes-acquisition-of-thomson-reuters-regulatory-intelligence-and-oden-businesses-302341226.html
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