Breakthrough in Blockchain Application: Launch of New Platform in Hanoi, Vietnam

0

HANOI, VIETNAM – Media OutReach – 13 November 2019 – Swiss
digital financial trading platform Algo Cipher collaborated with several global
indicator FinTech teams to develop its Super Public Blockchain 4.0 Platform ACF
(Algo Cipher Funds), which was launched on Nov. 9, 2019 in Hanoi, Vietnam,
aiming to resolve industry pain points by delivering efficiency, cross chain,
high adaptability, and inexpensive maintenance. 
The launch of this platform gathered momentum for the upgrading of the
overall blockchain industrial application.

Algo Cipher Super Public Blockchain 4.0 Platform Release in Hanoi, Vietnam

 

Algo Cipher global CEO J.C. Hsu pointed out that against the
backdrop of the abundant human resource and mobility Vietnam has to offer,
ACF’s Hanoi release promises more collaboration in future markets.  Multiple cooperation agreements among global
institutions were signed on the ACF Conference, and the prospects of ACF is
worth anticipating.

 

After two
years of research and development, Algo Cipher Super Public Blockchain 4.0
Platform ACF achieved major technical breakthroughs.  It not only provides faster algorithms but
also facilitates cross chain communication and value exchange, delivering an
interconnection of all chains and the cross chain application of all
currencies.  2020 will start seeing the
launch of major gaming, decentralized gambling, and decentralized charity
platforms, and by 2021 an estimated 2000+ app ecosystems on this platform will
secure ACF’s leading role in the blockchain industry.

Hong Kong retains first place in global ranking of most expensive shopping streets

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  • Half of global top 10 locations
    are European with four from Asia and one from the US
  • Beijing’s Wangfujing is ranked
    11th in the global list and 6th in the Asia Pacific list
  • Seven locations across Greater
    China made the top 20 in the Asia Pacific list
  • Challenging retail market is
    putting pressure on rents in some areas
  • Online retail sales are growing
    rapidly around the world. 

HONG KONG,
CHINA – Media OutReach – 13
November 2019 – Hong Kong’s Causeway Bay has retained its crown as the world’s most
expensive shopping street, followed by New York’s Upper 5th Avenue and London’s
New Bond Street, according to new data from Cushman & Wakefield. Beijing’s
Wangfujing is the other city across Greater China to break the top 20, with a
global rank of 11.

The annual ‘Main
Streets Across the World’ report tracks rents for 448 locations across 68
markets – the largest number ever included since it started in 1988. The report
ranks locations by their prime rental value using Cushman & Wakefield’s
proprietary data.

Last year Causeway Bay ended five years of domination by New York’s
Upper 5th Avenue, and in the 2019 rankings,it retains its position with rents
to locate a store amounting to $2,745 per sq ft/yr. Upper 5th Avenue is in
second place at $2,250 psf/yr, with London’s New Bond Street third in the
global list, with annual rents at the London thoroughfare having risen 2.3% in
the past 12 months to $1,714 per psf/yr.

Report author Darren Yates, Head of EMEA
Retail Research at Cushman & Wakefield,
said: “In terms of rental performance,
this year’s results are encouraging and demonstrate the resilience of the
premier retail locations. Rents on the world’s top retail streets have been
fairly stable and there is greater clarity on where retail is heading. However,
there is downward pressure on rents in many weaker locations, particularly in
the more mature markets of Europe and North America.  In Asia Pacific, retail has generally
performed well across a very diverse group of markets.”

In Europe, New Bond Street leads the way ahead of Paris and Milan, with
Zurich’s Bahnhofstrasse at $866 psf/yr and Vienna’s Kohlmarkt at $513 psf/yr
completing the top five. Overall, rents in around 70% of locations in Europe
were stable or up on last year. Polarization is evident, however, between the
more established markets of North Western Europe and Southern, Central and
Eastern Europe, where online sales have yet to really accelerate.

In the Americas rental trends have shown a wide degree of variation.
Rents in Canada and the US remain under pressure in many areas, although there
can be significant variations between individual streets. There is some good
news in that rents in New York streets appear to be stabilizing, following
falls in recent years. Latin American retail markets continue to mature,
although rents can be volatile.

The Asia Pacific region is in a relatively strong position, with rents
in over 80% of locations covered either rising or stable. India recorded a
particularly strong performance, with solid rental growth across several
cities, while retail rents in Hong Kong have been resilient in the face of the
recent protests — although the outlook is more uncertain.

“Hong Kong’s Causeway Bay, (Russell Street) remains the world’s
most expensive retail street this year, based on data as of June 2019 at the
time the global survey was completed. Since then, however, the Hong Kong retail
market has come under growing pressure from local social unrest that has led to
a sharp drop in tourist arrivals and retail sales, as well as interruptions to
retailer operations, especially during weekends. As a result, retail rents have
fallen across all submarkets in recent months and the outlook for the remainder
of the year is muted,” explained Kevin
Lam, Executive Director, Head of Retail Services, Hong Kong at Cushman &
Wakefield
. “However, some retailers see the current market
correction as a rare opportunity to return to the high street, and we therefore
expect some adjustment in retail trade mix. In particular, trades that focus on
mass-market demand and local consumption, such as the education, lifestyle and
sports/athleisure sectors, will fare better in the current environment. We are
seeing a number of such retailers cautiously look for opportunities to expand
or to seek a better rental package.”

Across Greater China, seven locations ranked in the top 20 in the Asia
Pacific list, including Hong Kong (1st), Beijing (6th), Shanghai (8th),
Shenzhen (11th), Guangzhou (13th), Taipei (15th) and Nanjing (20th). All of
their rankings remained unchanged from last year, besides Nanjing, which moved
three places up to round out the list.

Most major cities in mainland China continue to see a significant amount
of new retail development, with activity being driven by both domestic and
international retailers, the latter continuing to pursue a strategy of opening
in multiple locations. A variety of sectors are active, including fashion,
children’s education, cosmetics, entertainment, luxury, lifestyle, fitness and
F&B.

Following initial concerns about the impact of online on traditional
retail, the focus has now shifted to developing the ‘new retail’ model, which
blends the best of both in-store and online experiences. Shopping malls and
retailers are now deploying smart technologies across the whole retail spectrum
from merchandising to marketing and customer engagement, intending to improve
operational efficiencies, reduce costs and enhance the customer shopping
experience.

Darren Yates further expanded on the relationship
between online and in-store retail experiences: “Online sales continue to
increase around the world, but while much of the narrative is focused on the
challenges the internet poses for traditional bricks and mortar, the
relationship between the two is more complex. While quantifying the value of
the store has become more difficult, it remains an important touchpoint for the
consumer and generates both in-store and online sales by acting as a showroom
and creating a wider brand presence — the so-called ‘halo effect’. The most
successful retailers will be those who best integrate their physical and online
operations to create a seamless, positive brand experience for shoppers.”

TOP 20 MOST EXPENSIVE RETAIL STREETS BY MARKET (source: Cushman & Wakefield)

Rank

2019

Rank

2018

Location

City

Market

Rent Q2 2019

US$/sq ft/year

1

1

Causeway Bay (main street shops)

Hong Kong

Hong Kong,China

2,745

2

2

Upper 5th Avenue (49th – 60th Sts)

New York

USA

2,250

3

3

New Bond Street

London

United Kingdom

1,714

4

4

Avenue des Champs Elysees

Paris

France

1,478

5

5

Via Montenapoleone

Milan

Italy

1,447

6

6

Ginza

Tokyo

Japan

1,251

7

7

Pitt Street Mall

Sydney

Australia

1,076

8

9

Bahnhofstrasse

Zurich

Switzerland

866

9

8

Myeongdong

Seoul

South Korea

862

10

10

Kohlmarkt

Vienna

Austria

513

11

11

Wangfujing

Beijing

Mainland China

471

12

12

Kaufinger/Neuhauser

Munich

Germany

469

13

13

Grafton Street

Dublin

Ireland

401

14

15

Ermou

Athens

Greece

361

14

14

Portal de L’Angel

Barcelona

Spain

361

16

17

Orchard Road

Singapore

Singapore

312

17

16

Kalverstraat

Amsterdam

Netherlands

301

18

19

Na Příkopě street

Prague

Czech Republic

298

19

18

Stoleshnikov

Moscow

Russia

288

20

21

Khan Market

New Delhi

India

243

Please click here to download the report.

Notes to
Editors:
. Data is Q2 2019

Data for retail rents relates to our professionals’ opinion of the rent
obtainable on a standard unit in a prime pitch of 448 locations across 68
markets around the world. For the purposes of this survey, the standard main
street unit is defined — where possible — as a unit with 150-200 sq.m of sales
area.  Typically, a unit has a frontage
of 6-8 metres. However, an element of flexibility is needed with the
definition, given that unit configuration varies from market to market.  Assumptions regarding ancillary space follow
local practice.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global
real estate services firm that delivers exceptional value for real estate
occupiers and owners. Cushman & Wakefield is among the largest real estate
services firms with 51,000 employees in approximately 400 offices and 70
countries. Across Greater China, there are 22 offices servicing the local
market. The company won four of the top awards in the Euromoney Survey 2017
& 2018 in the categories of Overall, Agency Letting/Sales, Valuation and
Research in China. In 2018, the firm had revenue of $8.2 billion across core
services of property, facilities and project management, leasing, capital
markets, advisory and other services. To learn more, visit www.cushmanwakefield.com.hk or follow us on
LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china)

Gelam Gallery Alive November 2019

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SINGAPORE – Media OutReach – 13 November
2019 – Gelam Gallery Alive, organized by Colorinc Pte Ltd and supported
by Singapore Tourism Board, is a lively arts and craft market with numerous
performances. This event will be held at the recently opened first ever outdoor
art gallery Gelam Gallery @ Muscat Street over 2 weekends in November, 16-17
November and 22-23 November 2019.

The new dates and opening hours are

16-17 November, 4pm to 10pm.

22 November, 5pm to 11pm

23 November, 4pm to 10pm

Free entrance.

 

Visitors can visit this unique gallery and at the same time participate
in the various art and craft demos like dried flowers arrangements, the art of
macramé, hand-painted bags, silkscreen painting on bags, scarves, accessories,
crochet dolls and clay art, etc…  For
performances, be entertained by the juggling and mime artists, dancers and
other performing artists throughout the 2 weekends.

 

The Singapore Wellness Association will also be joining us with its
Lovestreets program. Since 2017, Lovestreets has popped up at multiple
festivals inviting passers-by to express their feelings, wishes and talents on
the Love canopy. This will be the same on 16, 17 and 22 November. On 23
November only, dating or married couples are invited to bring a little momento
or photo to Gelam Gallery Alive from 7-10pm to make and decorate little time
capsules for themselves to be hung up and lit on the Love canopy. For those who
register at the Lovestreets website, your time capsules will be collected and
kept for 10 years and opened at a special party on 14 February 2029.

 

This event is also supported by Singtel Dash.

An all-in-one mobile wallet, Singtel Dash enables you to make safe and
easy payments wherever you go — be it in-store or online, locally or globally.
Download Dash from Apple App Store or Google Play Store to shop, dine, commute
and send money with your mobile phone.

 

For more information on Dash, please visit www.dash.com.sg

 

Visitor Information:

The entrance to the Gelam Gallery is located at the two Muscat Street,
perpendicular to Baghdad Street, Singapore. For more information, please visit https://www.theadmin.sg/gelam-gallery-alive

Hyatt Announces the Asia Pacific Winner of The Good Taste Series Annual Culinary Challenge

0

Eight talented chefs from Hyatt hotels across the region competed at Grand Hyatt Macau in the third edition of Hyatt’s global cooking competition

 

HONG KONG, CHINA – Media OutReach – 13 November 2019 – Hyatt today announced that Vernon Rego,
Chef de Partie — Events at
Grand Hyatt Melbourne
has emerged champion in the Asia Pacific edition of The Good Taste Series competition. Vernon Rego, together with runners-up
Daichi Kondo, Chef de Partie at The Grill in Hyatt Regency Kyoto and Mark
Zaragoza, Chef de Cuisine at The Cellar in Grand Hyatt Manila, will represent
the company’s Asia Pacific region in the global final held in Abu Dhabi in
March 2020. A
testament to Hyatt’s commitment to culinary excellence and creativity, The
Good Taste Series
 is open to anyone from line cooks to executive sous
chefs in Hyatt hotels globally.

All dish in TGTS Asia Pacific Final

Vernon REGO – Winner of TGTS Asia Pacific Final

All contestants in TGTS Asia Pacific Final with Hyatt Executives

 

“Hyatt
has enjoyed the reputation of being a leader in food and beverage. Our secret sauce
to success is to foster a nurturing environment where we develop and recognize
our chefs through a stimulating platform that sparks their creativity,” said
Andreas Stalder, senior vice president, food and beverage operations and
product development, Asia Pacific at Hyatt. “More than 630 chefs — an 85% increase
from last year, competed in The Good Taste Series competition this year. This strengthens
the foundation that Hyatt has built for career
development, enabling our chefs to create unparalleled experiences for our
guests.” 

 

Vernon
Rego was named the winner by a panel of judges comprised of acclaimed chefs
including
Daniel Calvert,
Margarita Forés, Nicolas Le Bec, Shane Osborn, Stefan
Stiller and Sze Man Sui; food
critic Evelyn Chen; Li Shu Tim, executive Chinese chef at Grand Hyatt Hong
Kong; and Andreas Stalder.

 

631 chefs
from 72 Hyatt hotels and resorts in 12 countries in Asia Pacific competed in
the rigorous regional contests for the coveted opportunity to showcase their
culinary chops on an international stage. This year’s Asia Pacific final
featured eight contestants, an increase from previous years, as there were three
contestants representing mainland China — which accounts for almost half of
Hyatt’s portfolio in the fast-growing region.

 

The
eight chefs who won a place in the Asia Pacific final include Gavin Fan of
Hyatt Regency Tianjin East, Jang Byung-Duk of Grand Hyatt Seoul, Daichi Kondo
of Hyatt Regency Kyoto, Nguyen Thi Truc Linh of Park Hyatt Saigon, Vernon Rego
of Grand Hyatt Melbourne, Annie Wang of Hyatt Regency Jinan, Wilson Xu of Grand
Hyatt Shenzhen and Mark Zaragoza of Grand Hyatt Manila.

 

The
night before the Asia Pacific final, the finalists received a mystery black box
— which consisted of sustainable salmon, free-range chicken, cage-free eggs and
young kailan and young fennel from Eco Farm, a certified organic farm in
Jiangxi, China. These ingredients embody Hyatt’s food and beverage philosophy, Food. Thoughtfully Sourced. Carefully
Served,
in order to better care for guests and communities in which Hyatt
hotels operate. Each chef was required to prepare an appetizer and a main dish
using these ingredients.

 

Vernon
Rego won top marks from the judges with his two creations: An appetizer of confit
salmon, soffritto, fennel and orange and a main course of chicken,
apricot, hazelnut and spice carrot. “This
has been an incredible experience where I have been able to challenge myself
and play with my ideas for new dishes and flavors. Coming this far in this
highly regarded competition has been an amazing journey and a career highlight
for me,” said Vernon Rego. “I look forward to the next stage in the global
final, meeting my fellow Hyatt competitors and seeing how we all challenge each
other in this supportive environment.”

 

Daichi
Kondon prepared marinated salmon with citrus flavor, écailler-style fennel with
yogurt cream, pickled zucchini and three-pepper basil sauce (appetizer) and
steamed chicken breast with lemongrass sauce, Chinese kale and mushroom
duxelles and exotic hollandaise sauce (main course). Mark Zaragoza’s appetizer
was salmon, egg yolk confit, caper and raisin fennel and the main course was
chicken roulade, mushroom, kailan, Jerusalem artichoke puree, jus.

 

Vernon
Rego, Daichi Kondo and Mark Zaragoza will travel to Abu Dhabi in March 2020 where
nine talented chefs from Hyatt hotels around the world will face off in the
third global final of The Good Taste Series competition.

 

The term “Hyatt” is used in this release for convenience
to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.


About Hyatt Hotels Corporation

Hyatt
Hotels Corporation, headquartered in Chicago, is a leading global hospitality
company with a portfolio of 20 premier brands. As of September 30, 2019, the
Company’s portfolio included more than 875 properties in over 60
countries across six continents. The Company’s purpose to care for people so
they can be their best informs its business decisions and growth strategy and
is intended to attract and retain top colleagues, build relationships with
guests and create value for shareholders. The Company’s subsidiaries develop,
own, operate, manage, franchise, license or provide services to hotels,
resorts, branded residences, vacation ownership properties, and fitness and spa
locations, including under the Park Hyatt®, Miraval®, Grand
Hyatt®
, Alila®, Andaz®, The
Unbound Collection by Hyatt®
, Destination®Hyatt
Regency®
, Hyatt®, Hyatt Ziva, Hyatt
Zilara
, Thompson Hotels®, Hyatt Centric®, Caption
by Hyatt
, Joie de Vivre®, Hyatt House®, Hyatt
Place®
, tommie™Hyatt Residence Club® and Exhale® brand
names, and operates the World of Hyatt® loyalty program that
provides distinct benefits and exclusive experiences to its valued
members. For more information, please visit www.hyatt.com.

Deutsche Post DHL Group and UNDP join hands for resilient local airports

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  • Get Airports Ready for Disaster (GARD) Local is a follow-up initiative to GARD workshops
    conducted at international airports.
  • Airport
    authorities in Nepalgunj and Dhangadhi among the first to attend the new
    training format

KATHMANDU, NEPAL/SINGAPORE – Media OutReach –
November 12, 2019 – Deutsche Post DHL Group, the leading mail and logistics
company, and the United Nations Development Programme (UNDP) Nepal today rolled
out its first Get Airports Ready for Disaster (GARD) Local workshops.

Over the next four days, nearly 40 airport
staff in Nepalgunj and Dhangadhi, two sub-metropolitan cities along the eastern
border of Nepal, will be trained to prepare their airports to handle an influx
of humanitarian aid in the event of disaster. The decision to train local
airports in Nepal is a result of lessons learnt from the 2015 earthquake. The
taxiway at Tribhuvan International Airport in Kathmandu, the country’s sole
international airport, had crumbled under the initial influx of aircraft
delivering aid, making it impossible for subsequent large aircraft to land. Had
there been a support network of trained local airports in the vicinity, aid
might have been able to land elsewhere for more efficient onward distribution.

 

DHL air network and logistics experts have been
running GARD workshops since 2009, having trained more than 50 international
airports in over 25 countries. “The team realized that there was demand from
local airports to get trained as well,” said Kim Melville, Lead GARD Trainer,
GoHelp Program, Deutsche Post DHL Group. This new GARD Local format has been
designed as a tailor-made service for smaller local airports that currently do
not have the required expertise, and that may be activated as mini-hubs for the
inflow and outflow of humanitarian aid in times of disaster. “Additionally, the
aim of this new format is to develop a preparedness assessment model that can
then be rolled out to other domestic airports by the civil aviation authorities
who have themselves been trained,” continued Melville.

 

Over the next four days, the GARD Local
workshops will seek to train local civil aviation authorities from key domestic
airports to assess cargo and air operations, with new sections on risks and
onward logistics in contrast to the original GARD modules.

 

“The Government of Nepal is eager to prepare
all concerned personnel to respond to disasters in a timely manner. UNDP, as a
long-time partner, is pleased to support the government’s efforts in achieving
that goal. This initiative of making airports more resilient is part of our
joint collaboration,” said Ayshanie Medagangoda-Labé, Resident
Representative of UNDP Nepal. Medagangoda-Labé also stated that the GARD
workshop is crucial to disaster-prone countries like Nepal as it will help in
immediate response actions during disasters. “We have completed a workshop
for Tribhuvan International Airport and we aspire to extend this training to
all 28 operational domestic airports. Airport service is crucial during
emergencies and this type of workshop will help prepare for future humanitarian
efforts,” she added.

 

The disaster response initiative falls under
DPDHL Group’s GoHelp initiative, a corporate responsibility program focusing on
disaster management. In addition to the GARD initiative, GoHelp also comprises a
Disaster Response Team (DRT). Following the major earthquake that hit Nepal in
2015, over 33 Asia Pacific DRT volunteers were deployed to support humanitarian
logistics operations at Tribhuvan International Airport. Four teams in rotation
spent over 30 days relieving the congested tarmac area of humanitarian
supplies, delivering cargo to airside warehouses, and transporting relief goods
to NGOs’ warehouses. During its time there, the DRT processed 80 —
120 tonnes of relief goods each day. 

Interested to learn more
about the DRT behind-the-scenes? Find out about their training in the
Philippines
, the teams in action in Mozambique
and their relief efforts in the aftermath of the Palu earthquake on
our content hub, Logistics of Things.

 

You can find the press
release for download as well as further information on dpdhl.com/pressreleases or read more about our CR activities
in our latest CR
Report
.

About Deutsche Post DHL Group

Deutsche Post DHL Group is the world’s
leading mail and logistics company. The Group connects people and markets and
is an enabler of global trade. It aspires to be the first choice for customers,
employees and investors worldwide. The Group contributes to the world through
responsible business practices, corporate citizenship and environmental
activities. By the year 2050, Deutsche Post DHL Group aims to achieve zero
emissions logistics.

Deutsche Post DHL Group is
home to two strong brands: Deutsche Post is Europe’s leading postal service
provider. DHL offers a comprehensive range of international express, freight
transport, and supply chain management services, as well as e-commerce
logistics solutions. Deutsche Post DHL Group employs approximately 550,000
people in over 220 countries and territories worldwide.

The Group generated
revenues of more than 61 billion Euros in 2018.

Die Post für Deutschland. The logistics company for the
world.

About UNDP Nepal


UNDP Nepal works with the
people and Government of Nepal, and other development partners to pursue
equitable and sustainable human development goals through eradication of
poverty, increase in livelihood opportunities, improvement in community
resilience against conflict, disasters and impact of climate change, while
laying down strong foundations for a society based on rule of law with an
inclusive and participatory democracy.

About the GARD Program


In 2009, GARD was developed
by Deutsche Post DHL Group in cooperation with the United Nations Development
Programme (UNDP) with the aim of preparing airports in disaster-prone areas to
handle the surge of incoming relief goods after a natural disaster occurs. It
also enables the various organizations and aid agencies to better understand
the processes at the airport in the aftermath of a disaster, which will help
facilitate relief efforts and enhance overall coordination.

 

To date, GARD workshops
have been held at over 50 airports in Armenia, Bangladesh, Bosnia &
Herzegovina, Costa Rica, the Dominican Republic, El Salvador, Ecuador,
Honduras, India, Iraque, Iran, Indonesia, Jordan, Kazakhstan, Lebanon,
Macedonia, the Maldives, Mauritius, Nepal, Panama, Peru, the Philippines, the
Seychelles, Sri Lanka and Turkey.

 

GARD trainers and training
materials are provided free-of-charge by Deutsche Post DHL Group while UNDP
leads the project implementation and facilitates the coordination with the
national authorities and governmental ministries.

 

GARD is an integral part of
Deutsche Post DHL Group’s GoHelp program in which the Group pools all of its
activities related to disaster preparedness and management. As a form of crisis
prevention, GARD workshops are used to prepare airports for coping with
potential natural disasters. Should a disaster strike, Disaster Response Teams
(DRTs) provide emergency aid and ensure that relief supplies can be accepted in
a coordinated manner and passed on to the correct aid organizations.

The Launch of 2019 Taipei International TV Market & Forum increases the international viability of Taiwan’s original content

0

TAIPEI, TAIWAN – Media OutReach – 12 November
2019 – The Bureau of Audiovisual and Music Industry
Development today announces the launch of the 2019 Taipei International TV
Market & Forum at the Taipei Marriot Hotel.

Peng Chun-heng, Deputy Minister of Ministry of Culture and other distinguished guests are here to start the event.

 

Peng Chun-heng, Deputy Minister of Ministry
of Culture; Hsu Yi-chun, Director General of Bureau of Audiovisual and Music
lndustry Development, Ministry of Culture; Ting Hsiao-ching, Chairperson of
Taiwan Creative Content Agency, join hands to kick off the event, which
showcases the best of Taiwan’s TV products and spurs international cooperation
and sales, and the event will run through November 14.

In remarks made at the opening ceremony,
Deputy Minister Peng said that the Taipei International TV Market & Forum is
an excellent place to take stock of the industry, share experiences and
technologies, develop international cooperation, and together create a
healthier environment for cultural industries. He also emphasized that The
Ministry of Culture has invested heavily over the past few years in creating an
environment conducive to the growth of cultural industries. As part of this, it
has offered awards and funding for the publishing of novels, creation of
scripts, establishment of the Taiwan Comic Base, program production,
post-production and special effects, culture-related technology, personnel
training, overseas marketing, and script translations and dubbing. These grants
and guidance programs have laid the groundwork for creation, and greatly
increased the nation’s capacity to produce original content. Moreover, they
have opened new pathways for derivative content to reach the marketplace.

This year, in order to expand the scope of
activities and increase business with rising markets, there will be 84 buyers
from 20 nations and regions to join the event including Brazil, Burma,
Cambodia, Colombia, France, Great Britain, Hong Kong, India, Indonesia, Iran,
Japan, Korea, Malaysia, Philippines, Russia, Singapore, Spain, Thailand, the
United States, and Vietnam.

This year among the guests of honor are GYAO
and Hulu Japan, both from Japan, and the sponsors are proud to announce the
addition of the Southeast Asia Exhibition Area, where related nations will host
booths.

There are 64 vendors attend the event this
year, including Taiwan’s television channels, post-production firms, new media
technology firms, TV content creators, over-the-top platforms, film councils of
Taiwan’s cities and counties, and southeast Asian vendors, as well as the newly
established Taiwan Creative Content Agency (TIACCA). Altogether, these vendors
will be offering over 244 TV programs to buyers.

 

In addition to rights trading meetings, three
International TV Forums will be held: Bringing Taiwan’s Original Content to the
Global Market, the TV/OTT Effect on Drama Productions; and Content Analytics:
Functions and Applications. At these, experts from Taiwan and other nations will
bring their insights and perspectives on the latest international trends,
successful cases, and key operational milestones. These events will spur new
understandings among Taiwan’s industry players, and spur the greater growth of
this sector. Two pitching sessions will be held to allow Taiwan’s content
creators the opportunity to meet with investors from Taiwan and all over the
world.

 

At a tea party during the opening ceremony,
Deputy Minister Peng will present the 2019 Awards for Television Dramas
Broadcast Overseas. For its success in having The Perfect Match broadcast all over the world– including Hong
Kong, Macao, Malaysia, Europe, and the Americas–Sanlih E-Television Co., Ltd.
will be presented with the Best Effective Reach on an Overseas Platform Award.
The series has also made inroads in such historically closed markets as Central
Asian nations, Japan, South Korea, and Thailand. Choco Media Co., Ltd.,
meanwhile, will be honored with the Best Overseas Creativity Marketing Award
for HIStory Seasons One and Two. This
series is noteworthy for having used smart marketing strategies over new media
to break new ground with audiences. It has been acclaimed by young people all
over the world, enjoying record views and clicks online.

 

Taiwan Television Enterprise Ltd. will be
honored with the Best Overseas Production Award for its series Prince William. This program was a major
hit among Mandarin-speakers in the Americas and New Southbound Policy partner
countries. Each award recipient will also be granted NT$1 million.

 

Deputy Minister Peng emphasized that Taiwan
is a land of many moving stories that can serve as inspiration for TV and film
productions. Taiwan is an excellent partner for the development of the
international film/TV market. Working together, Taiwan and foreign enterprises can
make Taiwan globally renowned as a producer of fine TV programming. The TAICCA, founded in May, will work with
the Ministry of Culture to create an environment that is suitable for the
development of cultural content industries. The agency will work to establish a “national team” of noteworthy
enterprises by joining government and private resources in support of film/TV,
pop music, illustrated publications, digital publishing, games, fashion, and
culture-related technology. Assistance will be provided concerning creation, distribution,
and international sale of these products. The main thrusts of TAICCA’s efforts will be content
development, creation of culture-related technology, and building a funding
system for cultural works. To achieve its end of being a bridge between the
government and the private sector, it will conduct surveys, train personnel,
make investments, and forge international alliances.

 

The Taipei International TV Market &
Forum is a much-anticipated event for the TV industry for both Taiwanese and
foreign participants. Over three days, in addition to the market, international
forums, pitching meetings, and meetings with government film commissions will
be held. A new media tech area will also be featured this year. Aside from
these events, the TV Screenwriting Award and Taiwan Literature Award will be
presented. More, a special tea party for XMediaMatch-Excerpts from “From Book
to Screen” Titles, as well as XMediaMatch “From Book to Screen” business matching
events will be held. According to the Bureau of Audiovisual and Music Industry
Development, the events will give international buyers, local investors, and
content creators the chance to better understand Taiwan’s literature,
animation, and TV content and spur international derivative rights trading, business
matching, and expanded cooperation.

Jacobson Pharma Launches Smartfish Health Nutrition Products from Norway in Greater China and Asia Pacific Region

0

HONG KONG, CHINA – Media
OutReach
 – 12 November 2019 – Jacobson Pharma Corporation Limited (“Jacobson
Pharma” or the  “Group”; Stock Code:
2633)
, a leading company engaging in research, development, production,
marketing and sale of generic drugs and proprietary medicines, announced the launch of Smartfish’s
health nutrition range of products in Greater China (including Mainland China,
Hong Kong, Macau and Taiwan) and Asia under an exclusive distribution agreement
with Smartfish AS, a branded health nutrition company
incorporated in Norway.


Smartfish provides products for the consumer health nutrition range and ​is the official supplier of sports nutrition drinks to sports clubs and national teams, including English Premier League Tottenham Hotspurs Football Club 

 

According
to the agreement, the Group has an in-licensed right for 10 years to distribute
and market Smartfish’s  consumer health products
in Greater China and the Asia Pacific Region, covering four product ranges,
namely “Smartfish Recharge” for sports nutrition, “Smartfish Resolve” for
improving metabolic health and diabetes care, “Smartfish Reflect” for promoting
adults’ brain health and cognitive function, and “Smartfish Cream” for
benefiting children’s brain development

 

Built
upon a patented emulsion technology and clinically substantiated, Smartfish’s Omega-3-enhanced nutritional drinks and
emulsion products complement the fast-growing medical and consumer nutrition markets
with products of evidence-based health benefits.

 

Differentiated from standard fish oil
supplements, Smartfish’s emulsion carries high levels of Omega 3 fatty acids,
in synergy with other nutrients, that can produce the potentiating
anti-inflammatory effects to deliver various health benefits . It can also
ensure a tasty delivery of nutrients by protecting Omega-3 fatty acids, which
are rich in fish oil, from oxidizing and forming the rancid taste. The products
are clinically tested, and all health benefit claims for Smartfish products are
supported by rigorous science.

 

Smartfish’s
products range provides health nutrition for the elderly and the young, medical
nutrition for chronic disease patients, and sports nutrition for athletes. Smartfish
has established itself as a trusted nutritional source for professional
athletes worldwide being the official supplier of sports nutrition drinks to
sports clubs and national teams, which include English Premier League Tottenham
Hotspurs Football Club and Norwegian Nordic Combined National Team of Skiing.

 

Jacobson
Pharma’s strategic collaboration with Smartfish also included a shareholding
investment of 9.04% of Smartfish’s issued capital made in July 2019, which is
expected to forge a stronger partnership and platform for both companies on exploring
potential business cooperation in the high growing consumer health nutrition
market in the future.

 

Mr. Derek Sum,
Chairman and Chief Executive Officer
of
Jacobson Pharma, comments, “We welcome
Smartfish’s nutrition products with well-documented potency to our consumer
health product portfolio. The  health
nutrition market has witnessed strong growth driven by the greater inclination
towards self-care and health problems prevention, alongside a growing aged
population and increase in disposable income. Through this collaboration,
Jacobson Pharma has primed itself to collaborate with Smartfish in exploiting
the latent demand for clinically substantiated health nutrition products to
meet different lifestyle and healthcare needs among consumers in Greater China
and the Asia Pacific Region.”

About Jacobson Pharma Corporation Limited (雅各臣科研製藥有限公司;Stock Code: 2633)

Jacobson Pharma is a leading generic drug company in Hong Kong. The Group’s
proprietary brand portfolio, notably being Po Chai Pills (「保濟丸」), Ho Chai Kung Tji Thung San (「何濟公止痛退熱散」), Contractubex Scar Gel (「秀碧除疤膏」) , Flying Eagle Wood Lok Medicated Oil (「飛鷹活絡油」), Tong Tai Chung Woodlok Oil (「唐太宗活絡油」), Doan’s Ointment (「兜安氏藥膏」), Saplingtan (「十靈丹」), Shiling Oil (「十靈油」) and Col-gan Tablet (「傷風克」)  have been widely recognised by the market. The Group aims to
enrich its portfolio through addition of high
value-added products covering sterile injections, oncology products as well as
orphan drugs and biosimilars. With its corporate headquarters based in Hong Kong, the Group has also
established its operating subsidiaries in China, Macau,
Taiwan, Singapore and Cambodia forming a regional commercial platform to tap the market
potential in the Asia Pacific and Greater China region. Jacobson Pharma
has been a constituent stock of MSCI Hong Kong Micro Cap Index since 1 June 2017.
For more details about Jacobson Pharma, please visit the Group’s website:

http://www.jacobsonpharma.com

About Smartfish AS

Smartfish is a company
incorporated in Norway which focuses on research & development, production
and marketing of advanced, science-based and clinically documented nutritional
products. Smartfish provides unique nutritional solutions for both medical use
and consumer health. Its nutrition products are based on a proprietary emulsion
technology that enables the effective delivery of high levels of Omega 3 fatty
acids, whey protein and other nutrients. 
Smartfish has a number of ongoing clinical development projects and
studies in the pipeline in close collaboration with renowned researchers and
institutions around the world. The company was founded in 2001 and is now
headquartered in Oslo, Norway with an operating subsidiary in Lund, Sweden.
Smartfish’s main shareholders include Investinor (a Norwegian-based fund) and Industrifonden
(a Nordic fund). Learn more on
www.smartfishnutrition.com.

Jumia Reports Q3 2019: JumiaPay Total Payment Volume up 95% and JumiaPay Transactions up 262% year-over-year

Marketplace revenue up 52% and Gross profit up 45% year-over-year 

LAGOS, Nigeria – Jumia Technologies AG (NYSE: JMIA) (“Jumia” or the Company) announced today its financial results for the quarter ended September 30, 2019.

“We are making significant progress in the usage and relevance of our platform for consumers and sellers and are firmly positioning Jumia as the digital destination of choice for everyday needs in Africa. In parallel, we continue to make great strides in our payment and fintech business with JumiaPay showing very strong growth momentum on both volume and transaction metrics,” commented Sacha Poignonnec and Jeremy Hodara, Co-Chief Executive Officers of Jumia.

“Our financial strategy seeks to balance growth, JumiaPay development, monetization and cost efficiencies. We manage this equation on a dynamic basis and are now placing even greater emphasis on cash discipline and efficiency. Our growth strategy favours business verticals and product categories that drive adoption, repeat purchase and usage. On the cost efficiency front, we continuously seek to optimize our portfolio of assets and geographies to ensure efficient capital allocation. We are confident this strategy will enhance our focus on our core assets and contribute to building a healthy foundation for the long-term growth and success of Jumia.”

Business and Financial highlights

  • Growth momentum in topline drivers
    • We are focused on growing consumer adoption, usage and engagement on our platform. While our GMV increased by 39% this quarter compared to the third quarter of 2018, our Annual Active Consumers for the 12-month period ending September 30, 2019, grew by 56% and number of Orders for the quarter grew by 95% on a year-on-year basis.
    • The fastest-growing categories on our platform in terms of items sold are digital services offered on our JumiaPay mobile application, such as airtime recharge and utility bills payments, which are growing at triple digits, followed by Fast Moving Consumer Goods (“FMCG”), such as groceries and staples, which increased by 99% over the 9-month period ending September 30, 2019 compared to the same period last year. While these categories typically include lower average value items, we believe they drive strong engagement of our users and contribute to repeat purchases and increased consumer lifetime value, while providing consumers with an affordable entry point into our ecosystem.
    • In an effort to enhance our value proposition to sellers and consumers continuously, we have launched Jumia Mall in September 2019. Jumia Mall provides a dedicated space for brands or their official distributors to reach consumers through a customized e-shop with multiple services available to build their brand awareness and online sales performance. These services include marketing and visibility packages, business intelligence and data analytics as well as seamless logistics through the Jumia Express program. As of September 30, 2019, a couple of weeks after its launch, Jumia Mall was already home to approximately 50% of the top 100 Forbes consumer brands, which we believe is a strong validation of the relevance of Jumia as a platform of choice for brands.
  • Development of JumiaPay
    • JumiaPay remains a key focus area for us, and we aim to drive the adoption of Jumia Pay on our platform in a gradual manner, in order to expand into off-platform payments in the future.
    • Our Total Payment Volume (“TPV”) reached €32 million in the third quarter of 2019, up 95% from the same period last year. Our number of JumiaPay Transactions reached 2.1 million, up 262% from the same period last year, demonstrating robust traction of digital payments on our platform. In the third quarter of 2019, approximately 31% of Orders at Group level were settled via JumiaPay compared to 16% a year ago, demonstrating our ability to leverage the marketplace flywheel to drive the adoption of JumiaPay.
    • As of September 30, 2019, JumiaPay is available in six markets: Nigeria, Egypt, Ivory Coast, Ghana, Morocco and Kenya. We continue to prepare the rollout into selected new markets in the near future.
    • Our financial services marketplace, which is part of JumiaPay, is a core element of our fintech ecosystem. Jumia Lending, which today acts as an intermediary between sellers on our platform and third-party financial institutions, is making great progress in driving financial inclusion and access to credit for SMEs. Jumia Lending is instrumental in the credit underwriting process, providing valuable business data to financial institutions to help pre-score the credit of our sellers. We typically take no credit risk and have no balance sheet exposure to such loans. As of September 30, 2019, Jumia Lending is available in the six countries where JumiaPay is active. Jumia Lending helped in the origination of approximately €5 million worth of loans to more than 770 sellers on our platform since its launch in early 2017. The average loan amount is around €3,200 for an average duration of 5 months.
  • Increased monetization
    • In parallel with driving topline growth and development of JumiaPay, Gross profit increased by 45% compared to the third quarter of 2018, while Marketplace revenue increased by 52% over the same period, demonstrating our ability to effectively drive monetization while sustaining robust growth of our platform. Driving revenue and gross profit is an important part of our strategy and a primary focus for us.
    • Our monetization strategy aims to create diversified revenue streams from transaction activity and usage of our platform, particularly through the monetization of services that enhance our sellers’ performance, such as Jumia Express or Jumia Advertising.
    • Jumia Advertising is set up as an in-house advertising agency with dedicated marketing and advertising professionals. Leveraging the unique reach and data of the Jumia platform, Jumia Advertising aims to drive measurable results to brands and sellers, external advertising agencies and third-party advertisers. We offer them a comprehensive range of solutions, including sponsored product ads, sponsored display and CRM tools that can target consumers in a granular manner at different stages of their shopping journey.
  • Cost efficiencies
    • Our financial strategy seeks to balance robust topline growth and development of JumiaPay with growing monetization and cost efficiencies.
    • We are seeing very significant improvements in our Sales and Advertising efficiency. While delivering robust growth of topline drivers and usage of our platform, Sales & Advertising expense as a percentage of GMV decreased by 143 basis points (“bps”), from 6.1% of GMV in the third quarter of 2018 to 4.7% in the third quarter of 2019, reflecting the strong Jumia brand awareness, our discipline in terms of Sales & Advertising investments as well as the strong momentum of our offering among existing and new consumers.
    • Adjusted EBITDA loss as a percentage of GMV improved from negative 18.0% in the third quarter of 2018 to negative 16.5% in the third quarter of 2019.
  • Portfolio optimization
    • We regularly conduct portfolio reviews which assess the allocation of our resources to business verticals and geographies against multiple criteria, including financial performance, commercial environment as well as the ease and cost of doing business. As part of this year’s portfolio review, a number of initiatives are underway. We expect these initiatives to collectively account for less than 10% of our GMV, Gross profit and Operating loss for the 9-month period ending September 30, 2019.
    • These initiatives are aimed at enhancing our business focus and allocating investment, resources and talent to those areas that we believe present the best opportunities to support the Company’s long-term growth and path to profitability.

Selected Operational KPIs

1. Marketplace KPIs

2018

2019

Third Quarter

Third Quarter

GMV1 (€ million)

198.4

275.3

Annual Active Consumers2 (million)

3.5

5.5

Number of Orders3 (million)

3.6

7.0

1 GMV corresponds to the total value of orders for products and services including shipping feesvalue added tax and before deductions of any discounts or vouchers irrespective of cancellations or returns for the relevant period.

Annual Active Consumers means unique consumers who placed an order for a product or a service on our platform within the 12-month period preceding the relevant dateirrespective of cancellations or returns.

Number of Orders corresponds to the total number of orders for products and services on our platform irrespective of cancellations or returnsfor the relevant period.

  • GMV increased by 38.7% from €198 million in the third quarter of 2018 to €275 million in the third quarter of 2019, on the back of sustained volume growth on the platform. Comparisons between the third quarters of 2019 and 2018 and between the second and third quarters of 2019 are affected by changes in our commercial calendar dates, particularly the Jumia Anniversary campaign which is a Tier 1 campaign that took place in its entirety in the third quarter of 2018 while approximately half of it took place this year during the second quarter.
  • The number of Annual Active Consumers as of September 30, 2019, was 5.5 million, up from 3.5 million a year ago and up from 4.8 million at the end of the second quarter of 2019. This corresponds to a quarterly net addition of approximately 636 thousand consumers compared to a quarterly net addition of approximately 300 thousand consumers over the same period last year. This acceleration in consumer growth is a result of our continuous efforts to drive product and service offering relevance while consistently enhancing consumer experience at every touchpoint of the Jumia platform.
  • The number of Orders on our platform increased by 95.2% from 3.6 million in the third quarter of 2018 to 7.0 million in the third quarter of 2019. Our Orders growth outpaces GMV growth as a result of consumers purchasing increasing amounts of everyday product categories, which are typically lower average value items, on a more frequent basis. Over the 12-month period ending September 30, 2018, we had 3.5 million Annual Active Consumers placing on average 3.4 orders per annum, for an average value of €59.7 per order. Over the 12-month period ending September 30, 2019, we had 56% more consumers – 5.5 million Annual Active Consumers – placing on average 27% more orders – 4.3 orders per annum – for an average value of €46.5 per order. This reflects the ability of our platform to drive consumer adoption and more frequent usage.

2. JumiaPay KPIs

2018

2019

First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter

First
Quarter

Second
Quarter

Third
Quarter

TPV1 (€ million)

2.2

7.1

16.4

29.1

20.7

26.0

32.0

JumiaPay Transactions2 (million)

0.1

0.2

0.6

1.2

1.3

1.8

2.1

Total Payment Volume corresponds to the total value of orders for products and services completed using JumiaPay including shipping fees, value-added tax, before any cashback, irrespective of cancellations or returns.

JumiaPay Transactions corresponds to the total number of orders for products and services completed using JumiaPay, irrespective of cancellations or returns.

  • TPV increased by 94.8% from €16 million in the third quarter of 2018 to €32 million in the third quarter of 2019 while JumiaPay Transactions grew by 262% over the same period. This led to an increase in the penetration of JumiaPay transactions on our platform, as JumiaPay TPV represented 11.6% of GMV in the third quarter of 2019, and JumiaPay transactions represented 30.6% of Orders placed on our platform, up from 16.5% a year ago.
  • The increase in JumiaPay penetration is driven by a combination of continuous education efforts of consumers on our platform, incentives such as capped cashbacks offered to consumers for the usage of JumiaPay, as well as the roll-out of JumiaPay to more geographies and Jumia properties. We also continued to add relevant digital services to consumers as part of our JumiaPay payment app.

Selected Financial Information

1Revenue

The following table shows a breakdown of the revenue for the third quarters of 2018 and 2019.

For the three months ended September 30

YoY

(€ million)

2018

20191

Change

Marketplace revenue

12.5

18.9

52.1%

Commissions

4.2

5.3

27.5%

Fulfillment

4.0

7.3

82.2%

Marketing & Advertising

0.7

1.6

125.4%

Value-Added Services

3.6

4.7

32.9%

First Party revenue

20.5

20.9

1.8%

Platform revenue

33.0

39.8

20.8%

Non-Platform revenue

0.7

0.2

(64.1%)

Revenue

33.6

40.1

19.1%

Certain types of vouchers and consumer incentives were reclassified from Sales & Advertising to Revenue as further described in “Voucher and consumer incentives reclassification” below. The cumulative effect for the nine months ended September 302019 is included in the results for the three months ended September 30 2019. Results for the three months ended September 302018 have not been adjusted.

  • Marketplace revenue increased by 52.1% in the third quarter of 2019 compared to the third quarter of 2018, as we continue to drive monetization in parallel with increased usage of our platform.
    • Commissions, which are charged to our sellers, grew by 27.5%.
    • Fulfilment, which are delivery fees charged to consumers, grew by 82.2%.
    • Marketing & Advertising, which corresponds to the revenue generated from the sale of a diversified range of ad solutions to sellers and advertisers grew by 125.4%. The sustained momentum in this revenue stream shows the appetite from both sellers and advertisers for a compelling offer of digital advertising reaching a broad base of users, capable of driving measurable performance.
    • Value Added Services, which include revenue from services charged to our sellers such as logistics services, packaging, or content creation, grew by 32.9%.
  • First Party revenue increased by 1.8% in the third quarter of 2019 compared to the third quarter of 2018. We undertake our first party activity in an opportunistic manner to complement the breadth of product assortment on our platform, usually in areas where we see unmet consumer demand. Over time, it is our goal to reduce the proportion of first party activity in favor of third-party activity at the group level. This strategy may however vary from quarter to quarter and from country to country.
  • Shifts in the mix between first party and marketplace activities trigger substantial variations in our Revenue as we record the full sales price net of returns as First Party revenue and only commissions and fees in the case of Marketplace revenue. Accordingly, we steer our operations not on the basis of our total revenue, but rather on the basis of Gross profit, as changes between third-party and first-party sales mix are largely eliminated at the Gross profit level.

2. Gross Profit

For the three months
ended September 30

YoY

(€ million)

2018

2019

Change

Gross profit

12.5

18.1

45.0%

Gross profit increased by 45.0% from €12.5 million in the third quarter of 2018 to €18.1 million in the third quarter of 2019, as a result of increased platform monetization.

3. Fulfilment Expense

For the three months
ended September 30

YoY

(€ million)

2018

2019

Change

Fulfilment expense

13.3

20.7

55.4%

Fulfilment expense includes expenses related to services of third-party logistics providers, expenses related to our network of warehouses and pick-up stations, including employee benefit expenses. Fulfilment expense grew by 55.4% in the third quarter of 2019 compared to the third quarter of 2018.

Fulfilment expense is influenced by a number of factors including:

  • The origin of the goods, for example, the cost of shipping a product from a cross-border seller based overseas is higher than shipping from a local seller.
  • The destination of the package and type of delivery, for example main city vs. secondary city vs. rural area, and home delivery vs. pick-up station.
  • The type of goods, for example, the cost of delivery is higher for a large home appliance than a fashion accessory.

Fulfilment expense this quarter was impacted by a higher proportion of cross-border packages shipped from overseas sellers as well as a higher proportion of packages delivered outside primary cities. However, we continue to observe significant Fulfillment expense efficiencies as our order volumes grow.

4. Sales & Advertising Expense

For the three months
ended September 30

YoY

(€ million)

2018

20191

Change

Sales & Advertising expense

12.2

12.9

6.3%

Certain types of vouchers and consumer incentives were reclassified from Sales & Advertising to Revenue as further described in “Voucher and consumer incentives reclassification” below. The cumulative effect for the nine months ended September 302019 is included in the results for the three months ended September 30 2019. Results for the three months ended September 302018 have not been adjusted.

Our Sales & Advertising expense increased by 6.3% to €12.9 million in the third quarter of 2019 from €12.2 million in the third quarter of 2018, while we were able to increase our Active Consumers by 56.3% and our Orders by 95.2% over the same period.

5. General and Administrative Expense, Technology and Content Expense

For the three months
ended September 30

YoY

(€ million)

2018

2019

Change

General and Administrative (“G&A”) expense

22.5

32.7

45.4%

Share-Based Compensation (“SBC”) expense

(4.3)

(7.1)

67.1%

G&A expense, excluding SBC

18.2

25.6

40.3%

Technology & Content expense

5.3

7.0

31.4%

G&A, Technology & Content expense, excluding SBC

23.5

32.5

38.3%

General and Administrative expense contain wages and benefits, including share-based payment expense of management, as well as seller management, commercial development, accounting and legal staff, depreciation and amortization, professional fees, audit expense, utility cost, insurance and other overhead expense.

General and Administrative expense excluding SBC increased by 40.3% from €18.2 million in the third quarter of 2018 to €25.6 million in the third quarter of 2019, as a result of an increase in staff costs and professional fees.

Technology and Content expense increased by 31.4% from €5.3 million in the third quarter of 2018 to €7.0 million in the third quarter of 2019.

BUSINESS WIRE

Jumia Reports Q3 2019 Results: Marketplace revenue up 52% and Gross profit up 45% year-over-year

JumiaPay Total Payment Volume up 95% and JumiaPay Transactions up 262% year-over-year

LAGOS, Nigeria -Jumia Technologies AG (NYSE: JMIA) (“Jumia” or the Company) announced today its financial results for the quarter ended September 30, 2019.

“We are making significant progress in the usage and relevance of our platform for consumers and sellers and are firmly positioning Jumia as the digital destination of choice for everyday needs in Africa. In parallel, we continue to make great strides in our payment and fintech business with JumiaPay showing very strong growth momentum on both volume and transaction metrics,” commented Sacha Poignonnec and Jeremy Hodara, Co-Chief Executive Officers of Jumia.

“Our financial strategy seeks to balance growth, JumiaPay development, monetization and cost efficiencies. We manage this equation on a dynamic basis and are now placing even greater emphasis on cash discipline and efficiency. Our growth strategy favours business verticals and product categories that drive adoption, repeat purchase and usage. On the cost efficiency front, we continuously seek to optimize our portfolio of assets and geographies to ensure efficient capital allocation. We are confident this strategy will enhance our focus on our core assets and contribute to building a healthy foundation for the long-term growth and success of Jumia.”

Business and Financial highlights

  • Growth momentum in topline drivers
    • We are focused on growing consumer adoption, usage and engagement on our platform. While our GMV increased by 39% this quarter compared to the third quarter of 2018, our Annual Active Consumers for the 12-month period ending September 30, 2019, grew by 56% and number of Orders for the quarter grew by 95% on a year-on-year basis.
    • The fastest-growing categories on our platform in terms of items sold are digital services offered on our JumiaPay mobile application, such as airtime recharge and utility bills payments, which are growing at triple digits, followed by Fast Moving Consumer Goods (“FMCG”), such as groceries and staples, which increased by 99% over the 9-month period ending September 30, 2019 compared to the same period last year. While these categories typically include lower average value items, we believe they drive strong engagement of our users and contribute to repeat purchases and increased consumer lifetime value, while providing consumers with an affordable entry point into our ecosystem.
    • In an effort to enhance our value proposition to sellers and consumers continuously, we have launched Jumia Mall in September 2019. Jumia Mall provides a dedicated space for brands or their official distributors to reach consumers through a customized e-shop with multiple services available to build their brand awareness and online sales performance. These services include marketing and visibility packages, business intelligence and data analytics as well as seamless logistics through the Jumia Express program. As of September 30, 2019, a couple of weeks after its launch, Jumia Mall was already home to approximately 50% of the top 100 Forbes consumer brands, which we believe is a strong validation of the relevance of Jumia as a platform of choice for brands.
  • Development of JumiaPay
    • JumiaPay remains a key focus area for us, and we aim to drive the adoption of Jumia Pay on our platform in a gradual manner, in order to expand into off-platform payments in the future.
    • Our Total Payment Volume (“TPV”) reached €32 million in the third quarter of 2019, up 95% from the same period last year. Our number of JumiaPay Transactions reached 2.1 million, up 262% from the same period last year, demonstrating robust traction of digital payments on our platform. In the third quarter of 2019, approximately 31% of Orders at Group level were settled via JumiaPay compared to 16% a year ago, demonstrating our ability to leverage the marketplace flywheel to drive the adoption of JumiaPay.
    • As of September 30, 2019, JumiaPay is available in six markets: Nigeria, Egypt, Ivory Coast, Ghana, Morocco and Kenya. We continue to prepare the rollout into selected new markets in the near future.
    • Our financial services marketplace, which is part of JumiaPay, is a core element of our fintech ecosystem. Jumia Lending, which today acts as an intermediary between sellers on our platform and third-party financial institutions, is making great progress in driving financial inclusion and access to credit for SMEs. Jumia Lending is instrumental in the credit underwriting process, providing valuable business data to financial institutions to help pre-score the credit of our sellers. We typically take no credit risk and have no balance sheet exposure to such loans. As of September 30, 2019, Jumia Lending is available in the six countries where JumiaPay is active. Jumia Lending helped in the origination of approximately €5 million worth of loans to more than 770 sellers on our platform since its launch in early 2017. The average loan amount is around €3,200 for an average duration of 5 months.
  • Increased monetization
    • In parallel with driving topline growth and development of JumiaPay, Gross profit increased by 45% compared to the third quarter of 2018, while Marketplace revenue increased by 52% over the same period, demonstrating our ability to effectively drive monetization while sustaining robust growth of our platform. Driving revenue and gross profit is an important part of our strategy and a primary focus for us.
    • Our monetization strategy aims to create diversified revenue streams from transaction activity and usage of our platform, particularly through the monetization of services that enhance our sellers’ performance, such as Jumia Express or Jumia Advertising.
    • Jumia Advertising is set up as an in-house advertising agency with dedicated marketing and advertising professionals. Leveraging the unique reach and data of the Jumia platform, Jumia Advertising aims to drive measurable results to brands and sellers, external advertising agencies and third-party advertisers. We offer them a comprehensive range of solutions, including sponsored product ads, sponsored display and CRM tools that can target consumers in a granular manner at different stages of their shopping journey.
  • Cost efficiencies
    • Our financial strategy seeks to balance robust topline growth and development of JumiaPay with growing monetization and cost efficiencies.
    • We are seeing very significant improvements in our Sales and Advertising efficiency. While delivering robust growth of topline drivers and usage of our platform, Sales & Advertising expense as a percentage of GMV decreased by 143 basis points (“bps”), from 6.1% of GMV in the third quarter of 2018 to 4.7% in the third quarter of 2019, reflecting the strong Jumia brand awareness, our discipline in terms of Sales & Advertising investments as well as the strong momentum of our offering among existing and new consumers.
    • Adjusted EBITDA loss as a percentage of GMV improved from negative 18.0% in the third quarter of 2018 to negative 16.5% in the third quarter of 2019.
  • Portfolio optimization
    • We regularly conduct portfolio reviews which assess the allocation of our resources to business verticals and geographies against multiple criteria, including financial performance, commercial environment as well as the ease and cost of doing business. As part of this year’s portfolio review, a number of initiatives are underway. We expect these initiatives to collectively account for less than 10% of our GMV, Gross profit and Operating loss for the 9-month period ending September 30, 2019.
    • These initiatives are aimed at enhancing our business focus and allocating investment, resources and talent to those areas that we believe present the best opportunities to support the Company’s long-term growth and path to profitability.

Selected Operational KPIs

1. Marketplace KPIs

2018

2019

Third Quarter

Third Quarter

GMV1 (€ million)

198.4

275.3

Annual Active Consumers2 (million)

3.5

5.5

Number of Orders3 (million)

3.6

7.0

1 GMV corresponds to the total value of orders for products and services including shipping feesvalue added tax and before deductions of any discounts or vouchers irrespective of cancellations or returns for the relevant period.

Annual Active Consumers means unique consumers who placed an order for a product or a service on our platform within the 12-month period preceding the relevant dateirrespective of cancellations or returns.

Number of Orders corresponds to the total number of orders for products and services on our platform irrespective of cancellations or returnsfor the relevant period.

  • GMV increased by 38.7% from €198 million in the third quarter of 2018 to €275 million in the third quarter of 2019, on the back of sustained volume growth on the platform. Comparisons between the third quarters of 2019 and 2018 and between the second and third quarters of 2019 are affected by changes in our commercial calendar dates, particularly the Jumia Anniversary campaign which is a Tier 1 campaign that took place in its entirety in the third quarter of 2018 while approximately half of it took place this year during the second quarter.
  • The number of Annual Active Consumers as of September 30, 2019, was 5.5 million, up from 3.5 million a year ago and up from 4.8 million at the end of the second quarter of 2019. This corresponds to a quarterly net addition of approximately 636 thousand consumers compared to a quarterly net addition of approximately 300 thousand consumers over the same period last year. This acceleration in consumer growth is a result of our continuous efforts to drive product and service offering relevance while consistently enhancing consumer experience at every touchpoint of the Jumia platform.
  • The number of Orders on our platform increased by 95.2% from 3.6 million in the third quarter of 2018 to 7.0 million in the third quarter of 2019. Our Orders growth outpaces GMV growth as a result of consumers purchasing increasing amounts of everyday product categories, which are typically lower average value items, on a more frequent basis. Over the 12-month period ending September 30, 2018, we had 3.5 million Annual Active Consumers placing on average 3.4 orders per annum, for an average value of €59.7 per order. Over the 12-month period ending September 30, 2019, we had 56% more consumers – 5.5 million Annual Active Consumers – placing on average 27% more orders – 4.3 orders per annum – for an average value of €46.5 per order. This reflects the ability of our platform to drive consumer adoption and more frequent usage.

2. JumiaPay KPIs

2018

2019

First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter

First
Quarter

Second
Quarter

Third
Quarter

TPV1 (€ million)

2.2

7.1

16.4

29.1

20.7

26.0

32.0

JumiaPay Transactions2 (million)

0.1

0.2

0.6

1.2

1.3

1.8

2.1

Total Payment Volume corresponds to the total value of orders for products and services completed using JumiaPay including shipping fees, value-added tax, before any cashback, irrespective of cancellations or returns.

JumiaPay Transactions corresponds to the total number of orders for products and services completed using JumiaPay, irrespective of cancellations or returns.

  • TPV increased by 94.8% from €16 million in the third quarter of 2018 to €32 million in the third quarter of 2019 while JumiaPay Transactions grew by 262% over the same period. This led to an increase in the penetration of JumiaPay transactions on our platform, as JumiaPay TPV represented 11.6% of GMV in the third quarter of 2019, and JumiaPay transactions represented 30.6% of Orders placed on our platform, up from 16.5% a year ago.
  • The increase in JumiaPay penetration is driven by a combination of continuous education efforts of consumers on our platform, incentives such as capped cashbacks offered to consumers for the usage of JumiaPay, as well as the roll-out of JumiaPay to more geographies and Jumia properties. We also continued to add relevant digital services to consumers as part of our JumiaPay payment app.

Selected Financial Information

1Revenue

The following table shows a breakdown of the revenue for the third quarters of 2018 and 2019.

For the three months ended September 30

YoY

(€ million)

2018

20191

Change

Marketplace revenue

12.5

18.9

52.1%

Commissions

4.2

5.3

27.5%

Fulfillment

4.0

7.3

82.2%

Marketing & Advertising

0.7

1.6

125.4%

Value-Added Services

3.6

4.7

32.9%

First Party revenue

20.5

20.9

1.8%

Platform revenue

33.0

39.8

20.8%

Non-Platform revenue

0.7

0.2

(64.1%)

Revenue

33.6

40.1

19.1%

Certain types of vouchers and consumer incentives were reclassified from Sales & Advertising to Revenue as further described in “Voucher and consumer incentives reclassification” below. The cumulative effect for the nine months ended September 302019 is included in the results for the three months ended September 30 2019. Results for the three months ended September 302018 have not been adjusted.

  • Marketplace revenue increased by 52.1% in the third quarter of 2019 compared to the third quarter of 2018, as we continue to drive monetization in parallel with increased usage of our platform.
    • Commissions, which are charged to our sellers, grew by 27.5%.
    • Fulfilment, which are delivery fees charged to consumers, grew by 82.2%.
    • Marketing & Advertising, which corresponds to the revenue generated from the sale of a diversified range of ad solutions to sellers and advertisers grew by 125.4%. The sustained momentum in this revenue stream shows the appetite from both sellers and advertisers for a compelling offer of digital advertising reaching a broad base of users, capable of driving measurable performance.
    • Value Added Services, which include revenue from services charged to our sellers such as logistics services, packaging, or content creation, grew by 32.9%.
  • First Party revenue increased by 1.8% in the third quarter of 2019 compared to the third quarter of 2018. We undertake our first party activity in an opportunistic manner to complement the breadth of product assortment on our platform, usually in areas where we see unmet consumer demand. Over time, it is our goal to reduce the proportion of first party activity in favor of third-party activity at the group level. This strategy may however vary from quarter to quarter and from country to country.
  • Shifts in the mix between first party and marketplace activities trigger substantial variations in our Revenue as we record the full sales price net of returns as First Party revenue and only commissions and fees in the case of Marketplace revenue. Accordingly, we steer our operations not on the basis of our total revenue, but rather on the basis of Gross profit, as changes between third-party and first-party sales mix are largely eliminated at the Gross profit level.

2. Gross Profit

For the three months
ended September 30

YoY

(€ million)

2018

2019

Change

Gross profit

12.5

18.1

45.0%

Gross profit increased by 45.0% from €12.5 million in the third quarter of 2018 to €18.1 million in the third quarter of 2019, as a result of increased platform monetization.

3. Fulfilment Expense

For the three months
ended September 30

YoY

(€ million)

2018

2019

Change

Fulfilment expense

13.3

20.7

55.4%

Fulfilment expense includes expenses related to services of third-party logistics providers, expenses related to our network of warehouses and pick-up stations, including employee benefit expenses. Fulfilment expense grew by 55.4% in the third quarter of 2019 compared to the third quarter of 2018.

Fulfilment expense is influenced by a number of factors including:

  • The origin of the goods, for example, the cost of shipping a product from a cross-border seller based overseas is higher than shipping from a local seller.
  • The destination of the package and type of delivery, for example main city vs. secondary city vs. rural area, and home delivery vs. pick-up station.
  • The type of goods, for example, the cost of delivery is higher for a large home appliance than a fashion accessory.

Fulfilment expense this quarter was impacted by a higher proportion of cross-border packages shipped from overseas sellers as well as a higher proportion of packages delivered outside primary cities. However, we continue to observe significant Fulfillment expense efficiencies as our order volumes grow.

4. Sales & Advertising Expense

For the three months
ended September 30

YoY

(€ million)

2018

20191

Change

Sales & Advertising expense

12.2

12.9

6.3%

Certain types of vouchers and consumer incentives were reclassified from Sales & Advertising to Revenue as further described in “Voucher and consumer incentives reclassification” below. The cumulative effect for the nine months ended September 302019 is included in the results for the three months ended September 30 2019. Results for the three months ended September 302018 have not been adjusted.

Our Sales & Advertising expense increased by 6.3% to €12.9 million in the third quarter of 2019 from €12.2 million in the third quarter of 2018, while we were able to increase our Active Consumers by 56.3% and our Orders by 95.2% over the same period.

5. General and Administrative Expense, Technology and Content Expense

For the three months
ended September 30

YoY

(€ million)

2018

2019

Change

General and Administrative (“G&A”) expense

22.5

32.7

45.4%

Share-Based Compensation (“SBC”) expense

(4.3)

(7.1)

67.1%

G&A expense, excluding SBC

18.2

25.6

40.3%

Technology & Content expense

5.3

7.0

31.4%

G&A, Technology & Content expense, excluding SBC

23.5

32.5

38.3%

General and Administrative expense contain wages and benefits, including share-based payment expense of management, as well as seller management, commercial development, accounting and legal staff, depreciation and amortization, professional fees, audit expense, utility cost, insurance and other overhead expense.

General and Administrative expense excluding SBC increased by 40.3% from €18.2 million in the third quarter of 2018 to €25.6 million in the third quarter of 2019, as a result of an increase in staff costs and professional fees.

Technology and Content expense increased by 31.4% from €5.3 million in the third quarter of 2018 to €7.0 million in the third quarter of 2019.

BUSINESS WIRE