Grid Dynamics, The U.S. And Europe Business of ASL Successfully Listed on Nasdaq

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HONG
KONG, CHINA – Media OutReach – 9 March 2020 – Automated
Systems Holdings Limited (“ASL” or
“the Group”) (HKEX stock code: 771), a trustworthy and professional global
Information Technology (“IT”) partner, is pleased to announce that Grid
Dynamics Holdings, Inc. (“Grid Dynamics”), the Group’s U.S. and Europe business,
has been successfully listed on NASDAQ (NASDAQ: GDYN) on 6th March (Eastern
Time). Upon the completion, Grid Dynamics’ stock closed at US$12.0 on its first
day of trading, with the market value amounting to US$610.0 million
(approximately HK$4.78 billion), up 17.0% above its issue price. It makes for a
grandiose ending to the year-long-preparation leading to Grid Dynamics’ listing.

Grid Dynamics, The U.S. And Europe Business of ASL Successfully Listed on Nasdaq - Brand Spur

 

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Grid Dynamics will become an associate of the Group
after listing, with ASL as its single largest shareholder, holding 38.3% of its
shares.  Mr. Wang Weihang, Chairman of
the Board of Directors of ASL
, and Mr. Leon Wang, Executive Director and
Chief Executive Officer of ASL
, will both be appointed as members of the
new Grid Dynamics’ Board of Directors.

           

Mr. Leon Wang said on the listing day, “The successful listing of Grid Dynamics is a full reflection of its
value. Post-investment management has always been the focus and challenge of
the investment field and collaborative management operations. In the three
years, from the company’s acquisition of Grid Dynamics in 2017, to its listing
today, the company has implemented a new share option incentive scheme,
introduced a new strategic investor from the Silicon Valley, and invested US$7.0 million to continuously
promote the technological transformation of Grid Dynamics. Thanks to the
unremitting efforts of Grid Dynamics’ management team, the Group’s over 3,000
employees have gathered today to celebrate this memorable day.”

 

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The Group has achieved considerable investment returns through the
listing of Grid Dynamics. Its pre-investment valuation has increased by more
than three times as compared to 2017, and it has obtained a cash and stock return
of approximately US$200.0 million. This will greatly improve the Group’s
asset-liability structure, and acquire sufficient cash to support the
development of major operating businesses, thereby coping with the current
macroeconomic downward pressure, and further promoting and refining the
business layout and development in the Asia-Pacific region.

 

Mr. Wang Weihang congratulated the management and all employees
and said, “The spin-off and listing of Grid Dynamics is a great
leap forward, ASL will enter into a new era with the implementation of the Group’s
regional development strategy in Asia-Pacific, Europe and the United States.
The Group has not only procured a delivery network and the corresponding capability
covering Europe and the United States, especially for the countries along the ‘Belt
and Road Initiative’, but has also established a high-end scientific and technological
talent pool to match the digital transformation needs of several thousand global customers.”

 

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As the single largest shareholder of Grid Dynamics, the Group will
continue to work hand in hand with Grid Dynamics, to carry out in-depth
collaborations in three aspects, namely, technical capability enhancements,
complementary delivery capabilities, and customer resources sharing.

                                                         

The listing opens up an exciting new chapter for Grid Dynamics, for it is
bound to compete with many of the world’s top technology companies and to
achieve remarkable results.

 

Mr. Leon Wang concluded, “Looking
forward, ASL will unify software application, cybersecurity, and omni-channel
managed services to enhance technical service capacity, in the form of an “as-a-Service”
business model. The Group will combine its rich practical experience in the
industry, to help customers attain the integration of technology and
application, and to assist customers in business transformation through
technological innovation, in the fields of cloud computing, big data and more. At
the same time, please stay tuned to the Group’s annual solution tour, which
will showcase a series of brand-new ASL branded services.”

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For details of the transaction, please refer to the
announcement issued by ASL on 8th March 2020.

About Automated Systems Holdings Limited

Automated Systems Holdings Limited (“ASL” or “The Group”) has been listed
on the Stock Exchange of Hong Kong Limited since 1997 (Stock Code: 771). ASL,
consists of Automated Systems (H.K.) Limited, ELM Computer Technologies
Limited, CSA Automated (Macau) Limited, Guangzhou Automated Systems Limited,
and ASL Automated (Thailand) Limited. In addition, Grid Dynamics Holdings Inc.
and i-Sprint Innovations Pte Ltd are the associates of the Group. The Group’s core
business is based in Hong Kong and Macau and covers Asia Pacific, Europe and
the United States. It is dedicated to offering professional and trustworthy IT
services to corporate clients around the world.

The Group’s core businesses are Innovative Solutions, Intelligent
Cybersecurity Services and Integrated Managed Services. Innovative Solutions
business is offering holistic business solutions to accelerate customers’
digital transformation. Intelligent Cybersecurity business is specialized in
digital asset protection & risks prevention. Integrated Managed Services
business is to manage clients’ IT infrastructure and cloud platform in entire
IT lifecycle with its world class, industry specific and end to end services.

With ASL’s 7 research and development centers worldwide, over a thousand
of high caliber experts, and more than 45 years of experience in providing
professional IT services to global users, ASL provides the best practices for
customers’ IT management and is definitely customers’ trustworthy and
professional global IT partner.

For more information, please visit our web page at http://www.asl.com.hk.

About Grid Dynamics Holdings, Inc.

Grid Dynamics Holdings, Inc. (“Grid Dynamics”) (NASDAQ: GDYN) is a
leader in driving enterprise-level digital transformation services for Fortune
1000 corporations. We work in close collaboration with our clients on digital
transformation initiatives that span strategy consulting, early prototypes and
enterprise-scale delivery of new digital platforms. We help organizations
become more agile and create innovative digital products and experiences using
deep expertise in emerging technology, top global engineering talent, lean software
development practices, and a high-performance product culture. Our secret of
success is in applying emergent technologies such as artificial intelligence,
data science, cloud computing, Big Data and DevOps to enable digital
transformation across the enterprise. Headquartered in the San Francisco Bay
Area with over 1,400 technologists located in engineering delivery centers
throughout the U.S., Central and Eastern Europe, Grid Dynamics is known for
architecting and delivering some of the largest digital transformation programs
in the retail, technology and financial sectors to help its clients win market
share, shorten time to market and reduce costs of digital operations on a
massive scale. To learn more about Grid Dynamics, please visit
https://www.griddynamics.com.

Grid Dynamics, The U.S. And Europe Business of ASL Successfully Listed on Nasdaq - Brand Spur

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Grid Dynamics, The U.S. And Europe Business of ASL Successfully Listed on Nasdaq - Brand SpurGrid Dynamics, The U.S. And Europe Business of ASL Successfully Listed on Nasdaq - Brand Spur

Latest News

Qatar Airways Launches Ferry Transfer Service from Shenzhen Shekou to Hong Kong International Airport

Qatar Airways introduces Upstream Check-in Service in Shenzhen starting from 15 April 2021 to offer greater connectivity in the Greater Bay Area

Local passengers will have the option to utilise the 30-minutes-long ferry service to fly out of Hong Kong; "Asia's World City" to over 80 destinations in Europe, the Middle East, Africa and the Americas


SHENZHEN & HONG KONG SAR, CHINA - Media OutReach - 12 April 2021 - Qatar Airways today announced the sea-to-air ferry transfer service from Shenzhen Shekou Port to the SkyPier in the airside of Hong Kong International Airport (HKIA) starting from 15 April 2021, providing passengers in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), one of the world's most dynamic mega-regions, convenient access to the airline's global network from "Asia's World City".

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Grid Dynamics, The U.S. And Europe Business of ASL Successfully Listed on Nasdaq - Brand Spur

Partnering with Airport Authority Hong Kong, the introduction of the Upstream Check-in Service will allow Qatar Airways customers in Shenzhen greater flexibility and enhanced travel options to the world from Hong Kong, where the airline operates daily direct service to Doha with its modern and fuel-efficient Airbus A350-900 aircraft that features 36 lie-flat seats in Business Class and 247 seats in Economy Class.

Qatar Airways customers can purchase their ferry tickets from SkyLink or the port's website. Passengers utilising the 30-minutes-long ferry service will be provided with boarding passes and baggage check-through service to their final destinations at the Shenzhen Shekou terminal, where they will also clear their customs and immigration. Upon arrival at SkyPier, customers can proceed directly to their Qatar Airways boarding gate, or enjoy the award-winning duty-free shopping experience and fine-dining options at HKIA before continuing a seamless and hassle-free onward journey with the airline to more than 80 destinations in Europe, the Middle East, Africa and the Americas.

Mr. Thomas Scruby, Qatar Airways Vice President of Sales for Australasia & North Asia, said: "The introduction of ferry transfer service will boost our footprint in the Greater Bay Area by providing our Southern Chinese customers more flexible flying options via HKIA. We know connectivity within the region and to the wider world is critical for the success of the GBA. Therefore, we are excited to do our part to build the infrastructure necessary to make it easier and smoother for local customers to travel despite the disruption caused by the pandemic around the world."

"We are confident in the market's demand and our commitment to the region remains resolute. The next phase of our partnership with Airport Authority Hong Kong will see the ferry transfer service to be further expanded to other key GBA metropolis such as Macau and Dongguan once government restrictions are lifted, allowing even more customers in the region to enjoy the world-class experience that Qatar Airways has to offer."

Premium customers opting for the ferry transfer service can continue to enjoy the luxurious on-ground experience at the Plaza Premium Lounge, conveniently located near Gate 1 at the South Departures Hall in Hong Kong International Airport. Passengers will be able to take advantage of the well-furnished environment with comfortable seating, shower rooms, contactless food ordering service, highspeed Wi-Fi and international TV channels. Privilege Club Gold members and above as well as selected oneworld frequent flyers also enjoy access to The Wing located near Gates 1 - 4, the industry-renowned lounge operated by Cathay Pacific, where guests can recharge, relax, and catch up with work before boarding their Qatar Airways flights.

The Greater Bay area is home to many of the nation's leading universities and academic institutions; the ferry transfer service will also provide more travel choices to the area's students wishing to complete their higher-education or exchange programs abroad. International students will be able to enroll in Qatar Airways Student Club and enjoy a wide range of benefits throughout their educational journey, such as special fares, extra baggage allowances, the flexibility to change the dates of their flight, complimentary Super Wi-Fi onboard, and more. For information about Student Club, visit: https://www.qatarairways.com/en/student-club.html

In addition to the highest safety standards, passengers flying with Qatar Airways will enjoy an even greater range of thoughtfully designed onboard experiences, including locally inspired menus, multi-language entertainment programs within the airline's award-winning IFE system, as well as Cantonese and Mandarin-speaking staff service both onboard and at the airline's five-star hub Hamad International Airport (HIA).

Qatar Airways continues to expand its network of destinations, offering more flights to international destinations than any other airline. By the middle of summer 2021, Qatar Airways' plans to rebuild its network to more than 140 destinations including 23 in Africa, 14 in the Americas, 43 in Asia-Pacific, 43 in Europe and 19 in Middle East. Many cities will be served with a strong schedule with daily or more frequencies.

Qatar Airways has become the first global airline in the world to achieve the prestigious 5-Star COVID-19 Airline Safety Rating by international air transport rating organisation, Skytrax. This follows HIA's recent success as the first airport in the Middle East and Asia to be awarded a Skytrax 5-Star COVID-19 Airport Safety Rating. These recognitions provide assurance to passengers across the world that airline health and safety standards are subject to the highest possible standards of professional, independent scrutiny and assessment. For full details of all the measures that have been implemented onboard and in HIA, please visit qatarairways.com/safety.

A multiple award-winning airline, Qatar Airways was named 'World's Best Airline' by the 2019 World Airline Awards, managed by the international air transport rating organisation Skytrax. It was also named 'Best Airline in the Middle East', 'World's Best Business Class', and 'Best Business Class Seat', in recognition of its ground-breaking Business Class experience, Qsuite. Qsuite is available on flights to more than 45 destinations including Johannesburg, Frankfurt, New York and Singapore.

About Qatar Airways:

A multiple award-winning airline, Qatar Airways was named 'World's Best Airline' by the 2019 World Airline Awards, managed by international air transport rating organisation Skytrax. It was also named 'Best Airline in the Middle East', 'World's Best Business Class' and 'Best Business Class Seat', in recognition of its ground-breaking Business Class experience, Qsuite. Qatar Airways is the only airline to have been awarded the coveted "Skytrax Airline of the Year" title, which is recognised as the pinnacle of excellence in the airline industry, five times.


Hamad International Airport (HIA), the airline's home and hub, was recently ranked "Third Best Airport in the World", among 550 airports worldwide, by the SKYTRAX World Airport Awards 2020. Rising from fourth position in 2019 to third in 2020, HIA has been steadily rising in the 'World's Best Airports' rankings since the start of its operations in 2014. In addition, HIA was voted the 'Best Airport in the Middle East' for the sixth year in a row and 'Best Staff Service in the Middle East' for the fifth year in a row.


Qsuite, a patented Qatar Airways product, features the industry's first-ever double bed in Business Class, as well as privacy panels that stow away, allowing passengers in adjoining seats to create their own private room, a first of its kind in the industry.

Qatar Airways was the first Gulf carrier to join global airline alliance oneworld, enabling its passengers to benefit from more than 1,000 airports in more than 160 countries, with 14,250 daily departures.


Oryx One, Qatar Airways' in-flight entertainment system offers passengers up to 4,000 entertainment options from the latest blockbuster movies, TV box sets, music, games and much more. Passengers flying on Qatar Airways flights served by its B787, B777, A350, A380, A319 and select A320 and A330 aircraft can also stay in touch with their friends and family around the world by using the award-winning airline's on-board Wi-Fi and GSM service.


Qatar Airways proudly supports a range of exciting international and local initiatives dedicated to enriching the global community that it serves. Qatar Airways, the official FIFA partner, is the official sponsor of many top-level sporting events, including the FIFA World Cup Qatar 2022TM, reflecting the values of sports as a means of bringing people together, something at the core of the airline's own brand message - Going Places Together.


Qatar Airways Cargo, one of the world's leading international air cargo carriers, serves more than 60 freighter destinations worldwide via its world-class Doha hub and also delivers freight in the belly-hold of passenger aircraft to an extensive global network. The Qatar Airways Cargo fleet includes two Boeing 747-8 freighters and 24 Boeing 777 freighters.


Qatar Executive is the private jet charter division of Qatar Airways Group. Luxury jet services are available for worldwide charter on board the operator's wholly-owned business jet fleet. Qatar Executive is the launch customer for Gulfstream's G700, the world's first commercial service operator of the Gulfstream G500 and largest commercial operator of the G650ER worldwide. Qatar Executive's service portfolio also includes aircraft management, maintenance and Fixed Based Operator services.

Grid Dynamics, The U.S. And Europe Business of ASL Successfully Listed on Nasdaq - Brand Spur
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