Left Right Our journey began when our Institutional banking colleagues became aware of what social enterprises SE are and learnt more about how SEs offer sustainable solutions to bridging the gap of inequality by generating both financial and social returns.
Particle owns Yidian Zixun "Yidian"a rapidly-growing personalized news and life-style information application in China, which allows users to efficiently define and explore individualized content over mobile devices.
The Company currently owns approximately Long De subsequently informed the Company and Particle that it has not obtained necessary government approval for remitting funds offshore to make payments to the Company or Particle, and therefore, neither the assignment of the August Loan to Long De nor the proposed subscription for Series E preferred shares and warrants of Particle by Long De or its affiliate has been completed.
Both the loan assignment and warrants exercise are expected to be completed only after Long De and its affiliates have obtained necessary funds offshore to make payments to the Company and Particle, as applicable. Concurrent with issuance of the warrants, Long De and its affiliates agreed to provide interest-free, Renminbi-denominated loans to consolidated affiliated entities of Particle in China in amounts substantially the same as their expected payment obligations for the warrants exercise.
Such loans are expected to be repaid when Long De and its affiliates inform Particle that they are ready to start the process for remitting funds offshore in order to complete the warrants exercise. It is, however, uncertain when Long De and its affiliates can obtain necessary funds offshore to make payments to the Company and Particle and there is uncertainty as to whether and when the loan assignment and warrant exercises can be completed.
The purpose of the above mentioned transactions is to enable Particle to receive the gross proceeds as soon as possible. After such transactions have been completed as described above, Particle will receive gross proceeds of approximately RMB Having originated from a leading global Chinese language TV network based in Hong Kong, Phoenix TV, the Company enables consumers to access professional news and other quality information and share user-generated content on the Internet and through their mobile devices.
Phoenix New Media's platform includes its ifeng.
These statements are made under the "safe harbor" provisions of the U. Private Securities Litigation Reform Act of These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements.
Among other things, the business outlook and quotations from management in this announcement, as well as Phoenix New Media's strategic and operational plans, contain forward-looking statements. Phoenix New Media may also make written or oral forward-looking statements in its periodic reports to the U.
Securities and Exchange Commission "SEC" on Forms F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements about Phoenix New Media's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties.
A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Further information regarding these and other risks is included in the Company's filings with the SEC, including its registration statement on Form F-1, as amended, and its annual report on Form F.
All information provided in this press release is as of the date of this press release, and Phoenix New Media does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries please contact: Phoenix New Media Limited.Agri-tech start-up Junga FreshnGreen has joined hands with InfraCo Asia Development Pte. Ltd. (IAD) this year to develop hydroponics farming methods in India.
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