New York, New York – Newsfile Corp. – July 6, 2023 – WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of DouYu International Holdings Limited (NASDAQ: DOYU) between April 30, 2021 and May 9, 2023, both dates inclusive (the “Class Period”) of the important August 8, 2023 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased DouYu securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the DouYu class action, go to https://rosenlegal.com/submit-form/?case_id=15999 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 8, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose, among other things, that: (1) The Chinese government, due to concerns about issues such as video game and computer addiction, as well as content challenging its authority, could become increasingly aggressive towards DouYu regardless of how effective or sincere its attempts to comply with Chinese law were; (2) this increasingly aggressive posture subjected DouYu to a heightened risk of an investigation and subsequent government enforcement action and ultimately resulted in enforcement action; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the DouYu class action, go to https://rosenlegal.com/submit-form/?case_id=15999 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40^th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

The issuer is solely responsible for the content of this announcement.

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

SINGAPORE – Media OutReach – 7 July 2023 – The O&G Specialist Clinic, a leading IVF clinic in Singapore, is pleased to announce the expansion of its Egg Freezing services to more groups of women. This is in line with the legislation of Elective Egg Freezing in Singapore. Starting from 1 July, women in Singapore aged 21 to 37 are no longer limited to undergoing Egg Freezing solely for medical reasons but can now do so under personal circumstances.

Egg Freezing is a complex and delicate process that can only be carried out by specialised medical professionals, a service offered by The O&G Specialist Clinic. From ovarian monitoring and egg retrieval to laboratory handling and genetic testing, Egg Freezing entails many critical steps that require a deep understanding of reproductive physiology. Egg Freezing is also a personalised treatment that sees patients receiving careful evaluation and planning based on their medical history, hormone levels, ovarian reserve, and overall health. The esteemed doctors at The O&G Specialist Clinic are highly experienced in this area of treatment and will employ their expertise throughout the procedure.

The O&G Specialist Clinic is founded by Dr. Loh Seong Feei, a renowned Infertility Management and O&G Specialist and Surgeon with over 30 years of experience. Dr. Loh is currently the Medical Director of Thomson Fertility Centre and has previously headed the Department of Reproductive Medicine at KK Women’s and Children’s Hospital where he was also the Director of KKIVF Centre. He is joined by Dr. Janice Tung, an IVF-accredited specialist, who has over 12 years of medical experience in the public and private care sector. Aside from Egg Freezing, other specialised services provided by The O&G Specialist Clinic include In vitro Fertilisation (IVF), Intrauterine Insemination (IUI) treatment in Singapore and care for pregnancy and women’s health.

One of the main objectives that The O&G Specialist Clinic constantly seeks to achieve is to deliver tailored fertility treatments which are patient-centred and patient-friendly. The clinic’s Egg Freezing Package is now available to a wider range of female patients, and appointments can be scheduled either at the clinic or through virtual consultation.

For more information, please visit https://ogclinic.com.sg/.

Hashtag: #O&GSpecialistClinic #EggFreezing #IVFClinic

The issuer is solely responsible for the content of this announcement.

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

New York, New York – Newsfile Corp. – July 6, 2023 – WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Cutera, Inc. (NASDAQ: CUTR) between February 17, 2021 and May 9, 2023, both dates inclusive (the “Class Period”) of the important July 24, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Cutera securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Cutera class action, go to https://rosenlegal.com/submit-form/?case_id=16520 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 24, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) overstated the sustainability of Cutera’s revenue growth; (2) failed to disclose significant conflicts among members of the Company’s senior leadership and Board; (3) failed to disclose several material weaknesses in the Company’s internal control over financial reporting; and (4) as a result of the foregoing, and the significant decline in the market value of the Company’s common stock, Plaintiff and other members of the Class suffered significant damages. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Cutera class action, go to https://rosenlegal.com/submit-form/?case_id=16520 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

The issuer is solely responsible for the content of this announcement.

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

New York, New York – Newsfile Corp. – July 6, 2023 – WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Microvast Holdings, Inc. (NASDAQ: MVST) (NASDAQ: MVSTW) resulting from allegations that Microvast may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Microvast securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=16538 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

WHAT IS THIS ABOUT: On May 22, 2023, Reuters reported that the U.S. Department of Energy (DoE) canceled a $200M grant to lithium battery manufacturer, Microvast, citing lawmakers’ concerns over Microvast’s alleged links to the Chinese Communist Party. Microvast has been in talks with the DoE over the grant to help build a plant in Tennessee to support its work with General Motors developing specialized electric vehicle batteries.

On this news, Microvast’s stock price fell $0.80 per share, or 36.36% to close at $1.40 per share on May 23, 2023.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

The issuer is solely responsible for the content of this announcement.

Source link

This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

New York, New York – Newsfile Corp. – July 6, 2023 – WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of JinkoSolar Holding Co., Ltd (NYSE: JKS) resulting from allegations that JinkoSolar may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased JinkoSolar securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=16025 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

WHAT IS THIS ABOUT: On May 9, 2023, before trading hours, the Jacksonville Daily Record published an article entitled “Federal agents issue search warrant at JinkoSolar plant in Cecil Commerce Center: Homeland Security said it is part of an ongoing investigation; the factory, whose parent company is in China, opened in Jacksonville in 2018.” The Jacksonville Daily Record reported that “[a]ccording to the Federal Bureau of Investigation, federal agents were assisting the Department of Homeland Security with the execution of a search warrant.” Further, the article cited WJXT News4Jax, stating that JinkoSolar is one of several companies under investigation by the U.S. Commerce Department for circumventing trade rules by sending products to other countries before moving them to the U.S.

On this news, JinkoSolar’s American depositary receipt (“ADR”) price fell $3.91 per ADR, or 8%, to close at $43.47 per ADR on May 9, 2023, on unusually heavy trading volume.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

The issuer is solely responsible for the content of this announcement.

Source link

This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

New York, New York – Newsfile Corp. – July 6, 2023 – WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Fox Corporation (NASDAQ: FOX) (NASDAQ: FOXA) resulting from allegations that FOX may have issued materially misleading business information to the investing public. The prospective class includes those who purchased FOX call options and/or sold put options.

SO WHAT: If you purchased FOX securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=13327 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

WHAT IS THIS ABOUT: In the wake of the 2020 U.S. Presidential Election, Dominion Voting Systems sued FOX for defamation. Dominion’s lawsuit alleges that FOX defamed Dominion’s business by endorsing, repeating or broadcasting a series of “verifiably false yet devastating lies about Dominion.” Dominion claims that various statements that were made on FOX News, including that Dominion committed election fraud by rigging the 2020 election, that Dominion’s software and algorithms manipulated vote counts in the 2020 election, that Dominion was founded for the purpose of rigging elections, and that Dominion paid kickbacks to government officials who used its machines, were defamatory and false. Dominion and Fox eventually agreed to settle the case for $787 million.

Beginning in February 2023, specific details emerged of internal discussions at FOX in the wake of the 2020 election, revealing that FOX’s senior leaders understood that claims to the effect that Dominion and other entities had rigged the 2020 election were false. As a consequence, FOX faces significant potential legal liability.

As a result of ongoing revelations about FOX’s legal exposure in the Dominion lawsuit, FOX’s Class A stock has declined from a closing price of $37.03 on February 17, 2023 to a closing price of $32.52 on March 15, 2023, a 12% decline. FOX’s Class B stock has declined from a closing price of $34.22 on February 17, 2023 to a closing price of $29.83 on March 15, 2023, a 12% decline.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

The issuer is solely responsible for the content of this announcement.

Source link

This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

• Secarna’s LNAplus™ ASOs suppress expression of NLRP3, a central component of the inflammasome pathway, which is overactive in many inflammatory diseases
• Cryopyrin-associated periodic syndrome (CAPS) is a group of rare inherited autoinflammatory diseases driven by overactive NLRP3, resulting in systemic inflammation
• With NLRP3-specific ASOs, inflammatory downstream effects were interrupted in immune cells and strong symptom relief and significant prolongation of survival was achieved in a CAPS disease model.

MUNICH/MARTINSRIED, GERMANY – EQS Newswire – 6 July 2023 – Secarna Pharmaceuticals GmbH & Co. KG (“Secarna”), a biopharmaceutical company focusing on the discovery and development of next-generation antisense oligonucleotide (ASO) therapies to address challenging or previously undruggable targets via its LNAplus™ platform, announced today the publication of compelling new preclinical data supporting the use of ASOs for the treatment of inflammatory diseases in the peer-reviewed journal, The Journal of Immunology. The article, “Antisense oligonucleotide therapy decreases IL-1β expression and prolongs survival in mutant Nlrp3 mice”, addresses the joint work of the groups of Prof. Ariel Feldstein and Prof. Hal Hoffman from the University of California San Diego, world-leading specialists in the field of NLRP3-mediated inflammation and CAPS, and Secarna and can be found here.

Using its proprietary Oligofyer™ bioinformatics system, Secarna designed LNAplus™ ASOs to specifically suppress the expression of the NLR family pyrin domain containing 3 (NLRP3), the central component of the inflammasome pathway. Activation of the inflammasome results in release of proinflammatory cytokines such as IL-1β. Overactivation of this pathway has a pathological role in many diseases with an inflammatory component, such as arthritis, inflammatory bowel disease, acute and chronic kidney disease, non-alcoholic steatohepatitis, asthma and also diseases of the central nervous system, such as Parkinson’s disease and Alzheimer’s disease. The results of this study demonstrate that NLRP3-specific ASO treatment downregulates NLRP3 expression and IL-1β release in the CAPS disease model, suggesting ASO therapy as a potential treatment of CAPS or other NLRP3-mediated diseases.

CAPS are a spectrum of autoinflammatory diseases caused by activating mutations in the NLRP3 gene. Depending on the type of mutation, symptoms and disease severity, they are divided into neonatal onset multisystem inflammatory disease (NOMID), Muckle Wells syndrome (MWS), and familial cold autoinflammatory syndrome (FCAS). Symptoms are heterogeneous and can include fever, urticarial rash but also multiple neurological manifestations that can be debilitating and have a severe impact on quality of life. Current therapies have been designed to inhibit the IL-1β pathway and have been shown to improve clinical symptoms in patients. However, there remains an unmet clinical need for patients who do not respond adequately, emphasizing the need for improved therapies.

“With the publication of these preclinical results, we have demonstrated that NLRP3-specific ASOs can effectively target this gene across the CAPS spectrum and therefore block the overactivation of the inflammatory cascade,” said Frank Jaschinski, Ph.D., Chief Scientific Officer of Secarna Pharmaceuticals. “We are excited to see that in a particularly aggressive model of CAPS clear therapeutic benefits on different readouts in relevant organs were achieved by NLRP3-ASO treatment. Furthermore, the data open the door for these ASOs to treat other diseases driven by an overactive NLRP3 inflammasome pathway, such as inflammatory bowel disease, acute and chronic kidney disease, and diseases of the central nervous system. I very much look forward to seeing the development of ASOs targeting inflammation, a field where, to date, there is no approved ASO treatment.”

The groups from the University of California San Diego tested the potential of the NLRP3-ASOs for treatment of CAPS in in vitro and in vivo models. In cell culture they demonstrated that NLRP3-ASOs potently suppressed expression of the gene. Furthermore, there was a strong reduction in the secretion of the proinflammatory cytokine IL-1β in immune cell cultures derived from in vivo models from all three types of CAPS. The activity of NLRP3-ASO was tested in an in vivo NOMID disease model; NOMID is the most severe form of CAPS. After systemic ASO treatment, life expectancy was significantly increased, with weight gains and reductions in the severity of skin lesions, showing an overall reduction in systemic inflammation.

Hashtag: #SecarnaPharmaceuticals

The issuer is solely responsible for the content of this announcement.

About Secarna’s proprietary drug discovery and development platform, LNAplus™

Secarna’s proprietary, customized LNAplus™ platform is being applied to the discovery, testing and selection of antisense oligonucleotides (ASOs) for pre-clinical and clinical development. LNAplus™ encompasses all aspects of drug discovery and pre-clinical development and has proven to be fast, reliable, scalable and efficient, enabling the discovery of novel antisense-based therapies for challenging or currently undruggable targets. The platform includes the powerful proprietary Oligofyer™ bioinformatics pipeline, a streamlined, high efficiency screening process, including Secarna’s proprietary LNA-Vit(r)ox™ safety test system, as well as target-specific functional assays. Secarna’s platform and ASOs have been validated by numerous in-house projects as well as in several academic and industry collaborations.

About Secarna Pharmaceuticals GmbH & Co. KG
Secarna Pharmaceuticals is the leading independent European next-generation antisense drug discovery and development company addressing high unmet medical needs in immuno-oncology and immunology, as well as viral, neurodegenerative and cardiometabolic diseases. Secarna’s mission is to maximize the performance and output of its proprietary LNAplus™ antisense oligonucleotide discovery platform, as well as to develop highly specific, safe, and efficacious best-in-class antisense therapies. With over 20 discovery and development programs, including both proprietary pipeline projects and partnered programs, Secarna focuses on targets in indications where antisense-based approaches have clear potential benefits over other therapeutic modalities. www.secarna.com

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Residential Transaction Slowdown Since May as More Buyers Turn Cautious in Rate Hike Environment

• Retail sentiment continues to rebound, with high street rents maintaining low-single-digit growth, vacancy rates further dropping across districts, and pharmacy sector the most active for expansion
• Overall Grade A office net absorption in Q2 recorded -172,700 sq ft as leasing activity is yet to rebound significantly, some tenants taking advantage of lower rents for flight-to-quality moves
• Initial boost from border reopening on residential market fades, as high interest rate environment suppresses housing transactions and price performance

HONG KONG SAR – Media OutReach – 6 July 2023 – Global real estate services firm Cushman & Wakefield today published its Hong Kong Property Markets Review and Outlook 1H 2023 report. Hong Kong’s regular economic activity levels have gradually resumed as the city fully reopened its border, supporting a recovery of tourist spending in the retail market. Total retail sales reached $171.9 billion in the first five months of the year, up 21.0% y-o-y. However, the office leasing market has yet to see a notable rebound, with negative absorption continuing into Q2. The overall office availability rate rose slightly to 17.3%, further weighing on rental levels. In the residential market, buyers have become more hesitant to enter transactions given the higher interest rates, leading to a 13% q-o-q decline in the number of transactions in Q2. Home prices also started to fluctuate towards the end of the quarter.

Office Market — Net Absorption Still Negative in Q2 as Corporates Remain Cautious

Overall business sentiment strengthened after Hong Kong fully reopened its border, although the return of cross-border activity to normalcy did not alleviate companies’ caution amid an uncertain global economic outlook. The office leasing market has not yet seen a significant rebound, while leasing activity by mainland enterprises in Hong Kong has yet to meet expectations. Hong Kong’s Grade A office market recorded net absorption of -172,700 sq ft in Q2, mainly due to downsizing by multinational companies during the quarter, notably in Greater Tsimshatsui and Greater Central. However, this is an improvement from the -248,200 sq ft recorded in Q1. The overall availability rate has slightly increased from 17.1% in Q1 to 17.3% in Q2, in turn exerting further downwards pressure on Grade A office rents, which fell by 2.1% q-o-q and 3.6% YTD, with the most notable drop observed in Hong Kong East.

John Siu, Managing Director, Head of Project and Occupier Services, Hong Kong, Cushman & Wakefieldstated: “In terms of new leasing transactions, the share of new transactions by area across business sectors was distributed more evenly in Q2. While the banking and finance sector still accounts for the largest share of newly leased space (25%), the medical/health/beauty, consumer products/manufacturing, and insurance sectors have each contributed more than 10%. The increase in demand for medical/health/beauty and insurance services from mainland visitors since the border reopening has driven up office space requirements from these sectors. Looking ahead to 2H, several large new office buildings are expected to be completed, and this, added to the existing high office availability, has hindered the rebound in office rents. Overall office rents are expected to further adjust in 2H, with a forecast of a 5-7% decline for 2023. With the recent signs of improving Sino-U.S. relations, it is expected that the gradual return of the economy and cross-border activities will support business confidence and expansion plans, which could aid the office market to recover.”

Retail Market — High Street Rents Improve as Vacancy Rates Further Decline, yet Larger Retail Brands Remain Wait-and-See

Hong Kong’s retail market has been gradually recovering thanks to the resumption of tourist spending. Total retail sales from January to May totaled HK$171.9 billion, recording a significant y-o-y increase of 21.0% due to the lower base last year. Among retail sectors, Jewellery & Watches, Fashion & Accessories and Medicines & Cosmetics, popular product categories among tourists, continued to outperform, with y-o-y growth rates of 76.6%, 54.0% and 37.4%, respectively. The overall high street vacancy rate continued to trend downwards across submarkets, with an average vacancy rate of approximately 9%, the lowest in the past three years. As for high street retail rents, all districts recorded low single-digit q-o-q growth in Q2, bringing an average rise of approximately 5% for 1H 2023. Central district saw the strongest increase of 7.1%, supported by both high-end tourists and local consumption. In addition, F&B rents continued to rise steadily, with 1H 2023 growth of 5% to 6% across different districts.

Kevin Lam, Executive Director, Head of Retail Services, Agency & Management, Hong Kong, Cushman & Wakefield stated, “Since the border reopened, drug stores and pharmacies have been the predominant driving force of new leasing activities in the core districts. The spending pattern of mainlanders has changed from “shopping-centric” to more “experience-based” tourism, which has paused the expansion plans of some high-end retailers and large brand chains. Although there have been some recent leasing transactions for luxury brands, most of them are for relocation and consolidation purposes, hence making it difficult to foresee a significant rebound of rental growth in the short term. As well, we have seen that following the border reopening, the travel outflow of locals is greater than the inflow of tourists to Hong Kong, which could diminish some local consumption power. As a result, the retail market during the Labor Day and the Buddha’s Birthday holiday periods was not as active as hoped-for. Therefore, we are conservative on the rental projection for 2H this year, depending on tourist arrival numbers in the first summer vacation period since the onset of the pandemic.”

Residential Market — High Interest Rates Slow Buying Sentiment, Housing Prices Expected to Rise From 3% to 7% for 2023

The housing market witnessed an initial recovery in prices and transaction volume following the border reopening in February. However, the subsequent interest rate hikes in May, coupled with global stock market volatility, have dampened potential buyers’ appetites towards the later-half of Q2.

Around 12,200 residential transactions were recorded in Q2, down 13% q-o-q and down 18% y-o-y. Developers have continued to actively launch new projects at the market rate, further thinning purchasing power in the secondary market. Primary market housing transactions accounted for around 24% of total residential transactions between January and May.

According to the latest government data, overall residential prices turned negative in May after rising for the previous four months, dropping 0.7% m-o-m. However, the first five months still recorded a cumulative increase of 4.9%. According to Cushman & Wakefield’s latest data on popular housing estates price levels, some have declined in the past two months and hence have offset some of the Q1 gains. The price level in City One Shatin, representing the mass market, was down by 3.0% q-o-q in Q2 (1H 2023 up 16.4%); Taikoo Shing, in the middle market, was down 3.9% q-o-q (1H 2023 up 6.9%); while Residence Bel-Air, representing the luxury market bracket, dropped 1.1% q-o-q (1H 2023 up 4.2%).

Rosanna Tang, Executive Director, Head of Research, Hong Kong, Cushman & Wakefield, said: “Although the market believes that interest rates may peak in 2H, the consensus is that the high interest rate environment will persist for quite some time. In addition, the recent stock market volatility, geopolitical instability, and slow recovery of the global economy, has contributed to a more cautious buying sentiment and hence dampened the recovery process of residential transactions and prices. We expect developers to continue to actively launch their new projects in the 2H period, mostly of units at less than HK$10 million, with attractive pricing and packages, while transactions in the secondary market may remain relatively slow. In 2023, overall residential property prices are expected to rise by 3% to 7% for the year, while total residential transactions are expected to rise by 10% to 15% y-o-y to around 50,000 units.”

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Photo caption:
John Siu, Managing Director, Head of Project and Occupier Services, Hong Kong, Cushman & Wakefield (middle); Kevin Lam, Executive Director, Head of Retail Services, Agency & Management, Hong Kong, Cushman & Wakefield (left) and Rosanna Tang, Executive Director, Head of Research, Hong Kong, Cushman & Wakefield (right)

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About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2022, the firm reported global revenue of US$10.1 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china).

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.