From the Sector

Beijing - Tencent Holdings Limited (“Tencent”) (00700.HK), JD.com, Inc. (“JD.com”) (NASDAQ:JD), and Vipshop Holdings Limited (“Vipshop”) (NYSE:VIPS), today jointly announced that Tencent, a leading provider of internet value-added services in China, and JD.com, China’s largest retailer, have entered into definitive agreements with Vipshop, a leading online discount retailer for brands in China, such that Tencent and JD.com will invest an aggregate amount of approximately US$863 million in cash in Vipshop at the closing of the transaction.

Pursuant to the share subscription agreement, Tencent and JD.com will subscribe for newly issued Class A ordinary shares of Vipshop in the amount of approximately US$604 million and approximately US$259 million, respectively. The purchase price will be US$65.40 per Class A ordinary share, which is equivalent to US$13.08 per American Depositary Share (“ADS”) of Vipshop, five of which represent one Class A ordinary share. The purchase price represents a 55% premium over the closing price of the ADSs as of the last trading day on December 15, 2017.

The transaction is expected to close in the near future, subject to customary closing conditions.  Upon the closing, Tencent and JD.com will beneficially own, taking into account any existing holding, approximately 7% and 5.5%, respectively, of Vipshop’s total issued shares. The Class A ordinary shares issued to Tencent and JD.com will be subject to a two-year lock up restriction. Tencent and JD.com will have the right to appoint a director and an observer, respectively, to Vipshop’s board of directors during the two-year lockup period. After the end of the lock-up period, for so long as Tencent and JD.com hold approximately 12% and 8%, respectively, of Vipshop’s total issued shares, or otherwise by mutual agreement with Vipshop, they will maintain director and board observer rights.

Concurrently with the entry of the share subscription agreement, Tencent and JD.com have entered into business cooperation agreements with Vipshop, effective upon closing, establishing a cooperative relationship among Tencent, JD.com and Vipshop. Under these agreements, Tencent will grant Vipshop an entry on the interface of Weixin Wallet enabling Vipshop to utilize traffic from Tencent’s Weixin platform, and JD.com will grant Vipshop entries on both the main page of JD.com’s mobile application and the main page of its Weixin Discovery shopping entry, and will assist Vipshop in achieving certain GMV targets through JD.com’s platform.   

“I am truly delighted about Vipshop's new strategic cooperation relationships with Tencent and JD.com,” said Mr. Eric Ya Shen, Vipshop’s Co-founder, Chairman of the Board of Directors and Chief Executive Officer. “This undoubtedly is an important event for Vipshop as well as China's e-commerce and internet industries. We, together with Tencent and JD.com, will leverage our respective strengths to form a strategic cooperative alliance aiming to achieve a deep, win-win cooperation and to benefit internet users and consumers. We will develop a holistic cooperation with Tencent on the Weixin platform and expand our strategic alliance with Tencent into more and broader areas.  We will explore win-win opportunities in multiple areas with JD.com, including establishing a strategic alliance in collaboration with brand suppliers, and an on-line traffic alliance. We will continue to operate as an independent e-commerce platform and further deepen and enhance our leading e-commerce capabilities in fashion (including apparel, shoes, bags and accessories) and cosmetics categories as well as our strong female user base, thereby offering higher value and better user experience to our customers.”

“The strength of Vipshop’s flash sale and apparel businesses, as well as its outstanding management team, create clear and strong synergies with us,” said Richard Liu, Chairman and CEO of JD.com. “This partnership will further extend the strong inroads that we have made with female shoppers, and will expand the breadth and reach of our fashion business. We continue to add the top-notch partners to complement JD.com’s core strengths, ensuring that JD and our partners provide the best customer experience for every shopping need.”

Martin Lau, President of Tencent Holdings, said, “We are pleased to become strategic investor in and partner with Vipshop. We look forward to providing Vipshop with our audiences, marketing solutions, and payment support to help the company provide branded apparel and other product categories to China’s rising middle class. We already see substantial demand from our users to discover, discuss and purchase branded apparel in our applications, and we believe that connecting our users more deeply to products on Vipshop’s platform will enrich their online experiences while benefiting Vipshop. We are proud of the role our resources such as marketing technology, payments handling, and machine learning play in facilitating a healthy and diverse retail ecosystem, online and offline.” 

About JD.com, Inc.

JD.com is both the largest e-commerce company in China, and the largest Chinese retailer, by revenue. The company strives to offer consumers the best online shopping experience. Through its user-friendly website, native mobile apps, and WeChat and Mobile QQ entry points, JD offers consumers a superior shopping experience. The company has the largest fulfillment infrastructure of any e-commerce company in China. As of September 30, 2017, JD.com operated 7 fulfillment centers and 405 warehouses covering 2,830 counties and districts across China, staffed by its own employees. JD.com is a member of the NASDAQ100 and a Fortune Global 500 company.

About Vipshop Holdings Limited

Vipshop Holdings Limited is a leading online discount retailer for brands in China. Vipshop offers high quality and popular branded products to consumers throughout China at a significant discount to retail prices. Since it was founded in August 2008, the Company has rapidly built a sizeable and growing base of customers and brand partners. For more information, please visit www.vip.com.

About Tencent Holdings Limited

Tencent uses technology to enrich the lives of Internet users. Our social products Weixin and QQ link our users to a rich digital content catalogue including games, video, music and books. Our proprietary targeting technology helps advertisers reach out to hundreds of millions of consumers in China. Our infrastructure services including payment, security, cloud and artificial intelligence create differentiated offerings and support our partners’ business growth. Tencent invests heavily in people and innovation, enabling us to evolve with the Internet. Tencent was founded in Shenzhen, China, in 1998. Shares of Tencent (00700.hk) are traded on the Main Board of the Stock Exchange of Hong Kong.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, statements regarding the expected closing of the transactions and the quotations from management in this announcement are or contain 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, those included in JD.com’s and Vipshop’s filings with the SEC and in Tencent’s filings with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and none of Tencent, JD.com or Vipshop undertake any duty to update such information, except as required under applicable law.

• Nathalie Brunel’s role is to support Lectra’s global teams in the roll-out of its new strategy to customers

Paris – Lectra, the world leader in integrated technology solutions dedicated to industries using fabrics, leather, technical textiles and composite materials, is pleased to announce the appointment of Nathalie Brunel to the role of Vice-President Sales, Fashion & Apparel. Based at Lectra’s headquarter’s in Paris, Nathalie reports to Edouard Macquin, Chief Sales Officer, Lectra and a member of the executive committee.

Nathalie Brunel’s role is to support Lectra’s subsidiaries as they conduct the Group’s strategic roadmap through the deployment of an offer—integrating the PLM and the cutting room of the future—which is rooted in customer experience. Nathalie will notably work with six countries: United States, China, Germany, United Kingdom, France and Italy.

“The fashion and apparel industry, a historic market for Lectra, is the pillar of our international presence. Our customers expect a high level of expertise and advice to meet the challenges they face due to the digitalization of their professions. Nathalie Brunel’s experience in transforming organizations and developing business for complex solutions within large groups is a valuable asset for both Lectra and our customers,” states Edouard Macquin.

“The fashion and apparel ecosystem is clearly entering the digital era. I aim to bring Lectra’s value proposition to our customers, facilitating their adoption of Industry 4.0 principles. I am proud to contribute to the integration of new technologies in their processes, from design to the finished product. It is crucial to meet the needs of companies facing a complex and fragmented market that is generating both local, and global, pressures,” underlines Nathalie Brunel.

Nathalie Brunel has over 20 years of experience in managing large accounts and management responsibility. In 1996, she joined the Altran group where she successively held the roles of Development Director, Director of a business unit, Associate Director, and Executive Director of large accounts. In 2011, Orange Business Services recruited Nathalie Brunel as Vice-President, Business Operations and Support, then Vice-President Large Accounts, Manufacturing and IT. Prior to joining Lectra, Nathalie Brunel held the position of CEO and shareholder of Okavango Energy, a consulting and industrial energy performance company.

Nathalie has a diploma from the Institut supérieur de commerce de Paris.

The AZL will continue its collaboration on composites in buildings and infrastructure after completing an initial market and technology study which identified new potentials for composite technologies in buildings and infrastructure markets. The aim of the new AZL Workgroup which will meet for the first time on January 25th, 2018 is to jointly develop new applications and to support the business development for composites in these two growing markets. The meeting is open to interested companies from the composite industry as well as the building and infrastructure markets.

The aim of the initial workgroup meeting will be to turn insights from the study into a long-term workgroup collaboration and to define topics and initiatives for the joint cooperation in the field of process and manufacturing technologies, fire safety regulations, materials as well as standards and norms. Industrial keynote presentations will introduce these action fields and will provide an insight into building and infrastructure applications for composites. The meeting will furthermore provide a platform to network with companies along the entire composite value chain.

Dr. Amer Affan, CEO and founder of AFFAN Innovative Structures based in Dubai is in charge of various composite projects for buildings such as the Museum of the Future in Dubai: “We have been utilizing structural composites in construction since 2010. Composites is a truly high-tech material compared with the traditional building materials (steel, concrete, timber and aluminum) but it is still to be recognized as such in the conservative and price-sensitive building industry. AZL, particularly its location at the RWTH Aachen University and its partner companies, offers a good platform to progress the use of composites in construction.”

AZL together with more than 25 companies just completed the Joint Market and Technology Study on “New Potentials for Composite Technologies in Buildings and Infrastructure” establishing a broad knowledge on business opportunities for composite technologies in these two growing markets. In a structured approach, the study determined the key segments as well as the technologies/applications with the highest market and technological potential. Analyses of 20 market segments, investigation of 438 applications, technology analyses of 25 highlight components and 11 detailed business cases were elaborated throughout the study. Additional to requirement analyses for materials and production technologies, new concepts for efficient profitable production technologies and cost engineering analysis were developed. With the workgroup, the AZL will take this initiative a step further with the aim to build a long-term cooperation platform for composites in buildings and infrastructure markets.

Justin Jin, CEO of the Korean company AXIA Materials participated in the study and is part of the AZL Partner Network: “As producer of large thermoplastic composite sheets and composite SIP (Structural Insulated Panel), we are eager to drive composites in B&I applications with the best efficient way. The AZL study on Buildings and Infrastructure provided us a great networking with key players in this business field and opportunities to strengthen our products with the key elements from partners. The study also gave us a proper market understanding including market size/volume in numbers to prove the value of this technology to building industry. We are looking forward to following up on these first insights and to realize applications with the AZL and its partners.”

Besides the networking options, the meeting will offer the opportunity to get an insight into the activities of the AZL Network consisting of nine research institutes at the RWTH Aachen Campus and more than 80 companies from 21 countries. During an optional guided tour, participants will visit selected institutes at the RWTH Aachen Campus. The meeting is open to all interested companies and free of charge.

More Information on Meeting and the Study
Information on AZL activities in the field of buildings and infrastructure:
www.azl-lightweight-production.com/composites-buildings-infrastructure
Details and registration to first Workgroup Meeting on January 25th, 2018:
http://www.azl-lightweight-production.com/termine/1st-workgroup-meeting-buildings-infrastructure

Bobingen - On the 4th October 2017 a new brand was introduced at Trevira: Trevira SINFINECO®. This label may be carried by all textiles that contain sustainable Trevira products. Sustainable, innovative, high-value and responsible – these are the values the new brand stands for.

As an industrial enterprise, Trevira is conscious of its special responsibility for an intact environment and has long advocated the recycling of valuable raw materials and waste products. Trevira CEO Klaus Holz: “We at Trevira wish to preserve the environment and at the same time work to create value. These are the criteria of our sustainability concept.“

Creation of the new brand is therefore only a logical step, one that enables customers to label their sustainable Trevira products as such. Trevira is known for the high quality of its products. In every way recycled products are as good as the original materials in terms of quality and performance.

Two vital elements in Pre-Consumer Recycling and an important concept in Post-Consumer Recycling form part of the sustainability strategy of Trevira to conserve resources and maintain value. :

In the area of Pre-Consumer Recycling, on the one hand, residual materials resulting from the manufacture of polyester fibres and filaments in Bobingen and Guben, dependent on the manufacturing step, are processed in the agglomeration plant and restored to become serviceable primary material. The recyclates are then fed back to our fibre and filament spinning mills, to be made into new top-quality products.

On the other hand, in fibre production there occurs in the manufacture of tow a small proportion of tow that cannot be used for converting and has to be cut out. Instead of selling this material as waste, it is cut up, pressed into balls and then carded / combed by a partner, resulting in a 1A quality product. The GRS certification (Global Recycled Standard) is requested for this. As with converter tow from new material, the recycled tow is mostly incorporated into polyester wool blends (55 % PET / 45 % wool), which are used primarily in corporate wear and uniforms.

In the area of Post-Consumer Recycling, Trevira offers filament yarns consisting of 100 % recycled PET bottles. Our parent company Indorama manufactures very high quality recycled chips from PET bottles. Since only transparent PET bottles are used in Thailand, the flakes and chips are of a particularly good and very uniform quality. The recycled chips, fibres and filaments from Indorama bear the GRS certificates (Global Recycled Standard) and RCS-NL (Recycled Claim Standard). Trevira processes the regranulate made by Indorama from bottle flakes into filament yarns consisting 100 % of recycled material. The filament yarns are available in titres 167 and 76 dtex normal polyester. Alongside technical applications, they are used in the automotive and apparel sectors. In addition, many promising developments with the recycled material are on their way.

At Heimtextil, which is to be held in Frankfurt from 9 to 12 January 2018, Trevira GmbH will be represented together with some important Trevira CS clients in Hall 4.2 at a 1,305 m2 booth.
The core of this joint booth will be a Trevira exhibition. Participating clients will present their latest Trevira CS collections for home textiles and commercially used textiles at individual stands around this core exhibit. The joint stand is located in close proximity to the new exhibition “Interior. Architecture. Hospitality. EXPO” of Messe Frankfurt.
“We are delighted to be able to make a significant contribution to the new thematic focus of Hall 4.2 with our trade fair concept for next year. It enables us to offer a platform to our clients allowing them to reach important decision-makers. In

addition, visitors to the trade fair will appreciate being able to find such a large number of Trevira CS novelties and collections in a one-stop-shop,” says Anke Vollenbröker, Head of Marketing at Trevira GmbH.
Trevira CEO Klaus Holz is pleased that the idea of a joint stand has been so well received by their clients. “The high level of demand shows that our concept of a comprehensive partnership with our clients pays off. Our long-standing clients appreciate that we not only offer them high quality and sustainably produced fibres and yarns, but that we also support them with our technical expertise and in marketing their Trevira fabrics.”

The following clients will be represented with a large selection of their beautiful and modern Trevira CS fabrics at the joint booth in January: Baumann Dekor Ges.m.b.H., Engelbert E. Stieger AG, FIDIVI Tessitura Vergnano S.p.A., Jenny Fabrics AG, Johan van den Acker Textielfabriek B.V., Mattes & Ammann GmbH & Co. KG, Pugi R.G. S.R.L., Spandauer Velours GmbH & Co. KG, SR Webatex GmbH / Getzner Textil AG, Swisstulle AG, Tessitura Mario Ghioldi & C. srl, Torcitura Fibre Sintetiche S.p.A., Torcitura Lei Tsu S.r.l., Vlnap a.s. / Wagenfelder Spinning Group, Wintex S.r.l., Mersem Teksil San. Ve Tic. Ltd. Sti, Teksko Kadife Kumas San. Ve Tic. A.S.

Based in Porto, Portugal, Rodrigo Siza will focus on nurturing new regional collaborations to benefit the needs of Lectra’s customers, and faciliate their success in the Industry 4.0 era. Rodrigo will rely on Lectra’s highly experienced teams located in the region.
“Rodrigo has very effectively established long-term partnerships with our fashion and apparel, automotive and furniture customers in Portugal. He has helped our customers to emerge stronger from the world crisis which heavily impacted them. After 10 successful years as head of Lectra Portgual, Rodrigo is now also in charge of meeting the expectations of our Spanish customers,” stated Daniel Harari, Lectra Chairman and CEO.

Players in the region are witnessing a strong dynamic, notably fashion brands in Spain and fashion and automotive industrialists with heightened added-value in Portugal. With the recent announcement of a new strategy to focus on Industry 4.0, Lectra is in a strong position to support these businesses in the digitalization of their processes.
For industries faced with more demanding consumers and ever-shorter product development and manufacturing cycles, integrating all steps along the extended supply chain, from design to cutting, is now a top priority. This is particularly apparent in Spain and Portugal, two countries positioned, in their own way, at the heart of Europe’s fashion and automotive industries.
Rodrigo started his career at Tradetex, a trading company of textiles for clothing, as a textile designer. From 1991 to 1999, he was an associate of V-Sistemas Informatica, specialized in the development and distribution of technical solutions for the textile industry. In 2000, he joined Lectra Portugal as a design and merchandising manager, and then evolved into the position of international consultant in 2004. He left Lectra in 2005 to take the position of Sales Director of RPB Têxteis e Vestuario, a company that makes clothes, before returning to Lectra in 2007 to take over the management of the Portuguese subsidiary. Rodrigo has a masters in marketing from Minho University and a degree in design and communication from Porto University, both located in Portugal.

TRSA has upgraded its inspection management protocol for Clean Green and Hygienically Clean certifications, appointing an inspection program administrator and auditor to train and administer the inspection process and inspector training.
This enhances TRSA’s well-established reputation for expertise, consistency and impartiality for all applicant laundry companies and plants when inspectors verify their adherence to best management practices (BMPs). It also adds a highly expert third party to oversee the inspection program. It aligns with ISO quality management system (QMS) standards for assessing laundry applicants’ quality assurance practices and Hazard Analysis Critical Control Point (HACCP) plans.

Laundry Design Group, LLC, Las Vegas, Nevada was selected as inspection program administrator after considering several firms, acknowledged for excellence in evaluating businesses’ QA guideline compliance. Bob Corfield, the firm’s CEO, has over 30 years’ industry experience, five performing inspections for Clean Green and Hygienically Clean. Corfield is a certified ISO QMS Lead Auditor with a HACCP designation.
As chief inspector and program administrator, Corfield identifies, administers and trains the independent inspector team. Each inspector enters a comprehensive training program including certification standards review, evidence collection procedures, interview protocol, ATP (work surface) testing, technology use, HACCP compliance and sample collection procedures. Training also focuses on educating inspectors regarding acceptable approaches launderers can take to implement BMPs. Each inspector must agree to a code of ethics including confidentiality and conflict of interest statements.
The inspection program is deployed on an iPad application that all inspectors must use for note-taking, evidence collection, and inspection scoring. This creates consistency from inspection to inspection and inspector to inspector. Inspectors’ reports are disseminated within hours of each inspection for lead audit review and discussion if required.

  “Trevira with its renowned brand is an integral part within our specialty portfolio strategy”, explains Mr. Uday Gill, CEO of IVL’s Fibres Business. “We see further growth potential especially in the hygiene and automotive segments, as well as in the high-end home textiles business.”

For Trevira CEO Klaus Holz the takeover of the remaining Sinterama share is just the last consequent step which documents the long-term commitment of the parent company. „For Trevira and its customers and suppliers, this consolidation reflects Indorama Ventures’ commitment to investing in the company and ensuring a continued strong and reliable partnership. IVL has supported us from the very beginning in all our activities and has integrated us in its global network. We cooperate in joint projects and benefit significantly from the synergies within the IVL group. We would like to thank the Sinterama team for their ongoing support in ensuring a seamless transition.“