Fintech PR
Lufax CEO Greg Gibb Forecasts Partnerships and Scenarioization in the Future of FinTech
Lufax chief executive officer Greg Gibb shared his thoughts on the future of FinTech, presaging inter-discipline partnerships and cross-platform scenarioization, at the Committee of 100 Greater China Conference and Gala 2019, held at the Ritz-Carlton Shanghai, Pudong.
Gibb observed that China’s FinTech landscape is restructuring dramatically – a process that started about 12 to 18 months ago, and, according to Gibb, will continue for another 12 to 18 months, “Before restructuring started, there were thousands of companies operating in the FinTech space. That number is going to come down to about a couple hundred.” Gibb however did not see the consolidation leading to a winner-take-all situation – he thought it is more likely that the top 10-15 players will command most of the market, “It is a very crowded space with lots of niches. The bar of play is going up very fast, and the winners are those armed with financial DNA, a lot of data, and breakthrough technologies.” Gibb, as a practitioner in the industry, welcomed restructuring and consolidation as a timely remedy, “In the early days you could literally become a FinTech company by purchasing a system on Taobao for a couple hundred Renminbi. Whereas the restructuring may be painful in the short term, it will be a good and necessary step in the long run.”
The way to play in China’s FinTech scene is also changing on the fundamental level, reminded Gibb. “If you roll back to four or five years ago, a lot of FinTech was much more siloed. Each company tried to fight in its own space, do its own thing, and control the process end-to-end,” noted Gibb. “Going forward, we will see much closer co-operation amongst FinTech companies, as well as between FinTech companies and traditional financial institutions, much like the recent Google-Citi partnership.” Likewise Gibb foresaw an increasing level of co-operation between platforms. E-commerce platforms are leveraging social platforms to achieve amazing growth, and Gibb called for FinTech companies to follow suit, “This is the open banking model for China – high-traffic platforms that have hitherto not entered the FinTech space will help provide scenarios for banks and FinTech companies to take advantage of the massive flow of traffic and data.”
Gibb predicted that the “scenarioization” of finance will drive a lot of growth in the coming years. “Payments was the first area where FinTech demonstrated its transformative power. Since then consumer finance has been growing very rapidly and shown great promise,” remarked Gibb. “But in second- and third-tier cities, the lack of assets and funding among businesses is still evident.” Time is ripe for a technological solution to help make asset management and financing more inclusive. “The asset management sector will present even more opportunities in the next five years, as the allocation of resources – where does the money go and how does it get there – becomes ever more important,” explained Gibb. “FinTech that connects the right customer to the right product, done with more transparency, more intelligence, and more investor education, can help direct money to the right areas and support the real economy.”
Gibb opined that institutions that inhabit financing scenarios, and gain point blank access to, as well as real understanding of, customers will command the lion share of the profit, “The profit cycles of FinTech rarely go beyond three years. Business models that have once induced value creation will reduce quite swiftly as time progresses. Those who capture the most value and avoid diminishing returns are the ones who continue to be ahead the innovation curve.” He submitted that one of the key issues going forward is to find a way to create more dialogue between innovation and regulation.
Gibb argued that China’s FinTech model will see the best application and fastest growth in other emerging markets. “A lot of the success we saw in China was thanks to the unique combination of first world technology and emerging market growth,” said Gibb. “The FinTech story will continue to be a fast-growing, emerging market story.”
“The low-hanging fruit is gone. FinTech now needs a scala of scale or skill to reach its goal,” analyzed Gibb. “A large customer base, financial DNA, or unique capabilities to integrate different forms of data, content, and offerings can each prove an asset; while the winning combination of all three will continue to see value.”
Gibb believed there is still tremendous potential for growth, “If you look at the banking and finance scene today, in terms of revenue and asset under management (AUM), FinTech still only accounts for 5-6% in China’s financial market; it has a small base, but is large in the global context and still poised for a lot of growth from unmet needs.” Gibb suggested that the key behind that growth will be AI, driven by chatbot capability, allowing financial services to leave the screen of an app and become a truly two-way interactive experience that prioritizes investor education in wealth management.
SOURCE Lufax
STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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