ASE Technology Holding’s Subsidiary, USI Shanghai, Announces Completion of Acquisition of Asteelflash

TAIPEI, Taiwan, R.O.C., Dec. 3, 2020 /PRNewswire/ — ASE Technology Holding Co., Ltd. (NYSE: ASX, TAIEX: 3711, “ASEH” or the “Company”), today announced the Company’s subsidiary, Universal Scientific Industrial (Shanghai) Co., Ltd. (“USI”, SSE: 601231), has successfully completed the acquisition (the “Acquisition”) of 100% shares of Asteelflash Group through the acquisition of Asteelflash Group’s parent company, Financière AFG S.A.S. (“FAFG”).

The closing consideration was paid in an amount of US$421,481,287, including cash and share consideration. In addition to the payment of closing consideration, Universal Scientific Industrial (France) (“USI France”), USI’s wholly owned subsidiary, is obliged to pay an additional amount up to US$42,804,551 in cash, subject to an earn-out mechanism linked to FAFG’s business performance provided under the definitive agreement, after the end of year 2022. The cash consideration was in an amount of US$374,606,287 paid by USI France upon closing. Upon making payment

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Following Apple Award Win, Shanghai Developers Of Genshin Impact Hopes To Build Its Own ‘Marvel Universe’

When Forrest Liu and his Shanghai-based video game developer company MiHoYo decided in 2017 to build a new mobile game to accompany its successful action RPG (role-playing game) Honkai Impact series, he envisioned an open-world style adventure, in which users can roam freely with their virtual characters.

The problem was, while open-world games have been all the rage in the console and PC space, it had never been done before in the mobile gaming space.

“It seemed like an impossible task,” Liu says. But after three years of development and “over 100 million yuan spent on the project,” the open-world mobile game Genshin Impact made its debut this past September.

It helped that MiHoYo, which was cofounded by Liu and two former college classmates in 2011, already had the smash hit Honkai series, so it wasn’t hard finding investors

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Why Can’t Shanghai Run A Public Offering?

In November 2007, the Shanghai stock exchange carried out an Initial Public Offering (IPO) for PetroChina
PTR
, China’s leading energy company. The share price soared 163% on the first day. PetroChina became (briefly) the world’s most valuable company. The Wall Street Journal called it a “stunning debut.” Western media noted that by some measures, PetroChina surpassed a $1 Trillion-dollar market capitalization — over a decade before Apple
AAPL
did it. (Note: The question of the company’s true market cap was complicated by very different valuations of PetroChina shares trading on the Shanghai, Hong Kong and New York exchanges. But in any case, it was a huge deal.) 

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Coronavirus testing panic grips Shanghai airport

“Just let me go,” shouts one man in the crowd. “I don’t want to die here,” cries out another.

The reason that more than 17,000 employees were sealed inside Shanghai’s main airport on Sunday? Seven cases of coronavirus linked to the cargo unit.

By Monday morning, Shanghai was back on message, with local officials announcing that 17,719 airport cargo workers had been tested for coronavirus in one night. All of the 11,544 test results received so far came back negative, they said. Official videos showed workers waiting in orderly lines for testing, set to soothing piano music.

Left unanswered was where the workers are now. An airport spokesman declined to say on Monday if they were still in the airport, taken to quarantine, or allowed to go home.

Earlier at a news conference, officials blamed a cargo flight from North America as the possible source of the outbreak, while promising

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Shanghai to Build Sci-Tech Innovation Center

(Yicai Global) Nov. 9 — Promoting innovation is an important task for Shanghai to build itself into a science and technology innovation center with global influence, amid a new round of scientific and technological revolution and industrial transformation.

With a series of major scientific research platforms, including the Shanghai Synchrotron Radiation Facility and the Shanghai Supercomputer Center, and multiple colleges and research institutes, Pudong New Area is the core of this sci-tech invention hub.

At a recent briefing held on the 30th anniversary of the opening-up and development of Pudong, Hang Yingwei, the district chief of the new area, told reporters that Pudong is leading construction of the sci-tech innovation center in Shanghai with its Zhangjiang Science City.

All 73 projects in the first phase have started, of which 72 will be completed this year. The 82 projects in the second phase will have kicked off by next month.

The

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Shanghai technology MoU signed Phnom Penh Post

The Ministry of Industry, Science, Technology and Innovation on Thursday signed a memorandum of understanding (MoU) with the Shanghai Science and Technology Committee (STCSM) on cooperation in the fields of science, technology and innovation.

STCSM describes itself as a component of the Shanghai municipal government on China’s central coast that is responsible for the city’s scientific and technological development.

It also supports cooperation between domestic and international institutions that are relevant to the areas of science and technology, according to its website.

The MoU was inked by minister Cham Prasidh and STCSM director-general Zhang Quan at a ceremony held via video link, the ministry reported.

At the event, Prasidh said the agreement would increase opportunities for Cambodian-Chinese joint ventures to undertake priority tasks.

This includes capacity training in fields such as science, technology, innovation, agriculture, agricultural processing, sanitation, health, the environment, information technology and telecommunications, he said.

“We welcome the

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Shanghai Disneyland responds to fake APP’s illegal collection of personal information

An aerial view of the Enchanted Storybook Castle in Shanghai Disneyland at Shanghai Disney Resort in Pudong, Shanghai, China on June 4 Photo: IC

Shanghai Disney Resort issued a statement confirming that a fake “Disneyland” mobile application had been discovered by Chinese regulatory authorities, with an investigation into the matter already started.

The “Shanghai Disneyland” mobile application, blacklisted by the Ministry of Industry and Information Technology (MIIT), was actually a counterfeit application, read an announcement issued by the Shanghai Disney Resort on its official WeChat account on Tuesday. 

The application in question, developed by Horgos Lvji Software Technology Co., Ltd., is not an official application of the Shanghai Disney Resort, and has no connection with the resort either, the announcement said.

Shanghai Disney Resort said it has already contacted MIIT and initiated an investigation into the counterfeit application.

The Ministry of Industry and Information Technology released a batch of applications

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111, Inc. and Shanghai Uniondrug Information Technology Join Hands to Advance Innovation in Commercial Insurance Payment

SHANGHAI, Oct. 15, 2020 /PRNewswire/ — On September 24, 111, Inc. (NASDAQ: YI) (“111”) and Shanghai Uniondrug Information Technology Co., Ltd (“Shanghai Uniondrug”) officially signed a strategic partnership agreement (the “Agreement”). The two companies will share resources and leverage each company’s expertise to build a multiple-layer partnership covering various fields. They will jointly promote commercial insurance innovation and explorations in oncology drug retail and diversified healthcare services, and provide integrated solutions for pharmaceutical companies, including innovative payments solutions, patient management, doctor and patient education, and offering efficient and convenient access to medication and other healthcare products.

Under the Agreement, the two companies will leverage their advantages to promote the development of an integrated ecosystem connecting pharmaceutical companies and insurers to lower the cost of medications while improving the market environment of pharmaceutical companies and pharmacies. More importantly, this Agreement will help reduce the cost burden of medication for

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