From the Sector

• JEC World 2018, closes its doors on March 8 with a record increase in attendance resuming 3 days of vibrant networking and knowledge sharing.

The event confirms its leading position of JEC Group as number one organization for the promotion and development of the composites industry. Indeed the show welcomed more than 1,300 exhibitors from every continents and counted 42,445 professional visits from 115 countries. “The ability of JEC Group to gather the whole composites Industry under one roof over 3 days lies in the fact that we always initiate new precursory programs to the service of composites professionals.” says Ms. Frédérique Mutel, JEC Group President & CEO. “This year we initiated new programs, for instance the Composite Challenge allowing 10 PhD students to pitch their thesis in front of the industry, thus facilitating connections between students and industrialists. In the same spirit, we increased in power our Start Up Booster and Innovation Award Programs to accelerate relations between young or innovative companies with investors or established enterprises. We also introduced one new planet called “Make it Real” along with the Aero, Auto and Construction planets. In this planet, we could discover astonishing futuristic products for example the Aeromobil, a flying car that would revolutionize urban transportation in the near future,“ she adds. “We launched our new Book on Natural Fibers: Flax and Hemp. We had strong communications on Composites Environmental Input and Recycling.”

The event was the first event to promote and host the new “French Fab”, a French government initiative to internationally promote the French Industry and Manufacture. Also, JEC World welcomed the French Secretary of State to the Minister of Economy and Finance Ms. Delphine Gény-Stephann, visit that demonstrates the growing role of composites in the industry.

Inspiring Keynotes to foster composites disruption

Dirk Ahlborn,CEO of Hyperloop opened the Startup Booster ceremony by supporting the spirit of ingenuity in the Industry. Dayton Horvath, industry expert and consultant in additive manufacturing presented his vision of how to apply artificial intelligence to composite Materials and Manufacturing. Finally, Yves Rossy, the “jetman” using the latest carbon-fiber wings for flight introduced the JEC Innovation awards ceremony, motivating the audience to pursue their dreams and explaining how composites could made his dreams come true.

The "Public Choice” Awards Winners

A first at the show this year was the introduction of the public votes to elect their favorite projects among two JEC programs promoting innovation. “The goal to create the “public choice awards” was to involve and embark our community to make their innovation loud. Our vision at JEC is to demonstrate and to make understand towards a broader scope the vast range of possibilities that composite materials offer.”
comments Ms. Anne-Manuèle Hébert, Director for JEC World and European Events for JEC Group.

Public Choice Award for Startup  Booster: Inca-Fiber (Germany) with 62.36% of the 2,221 votes
Public Choice Award for JEC Innovation Awards: Infusion technology for an aircraft wing by AeroComposit JSC (Russia) gaining 20.96% of the 4,126 votes.

Wilmington, MA – March 1, 2018 - Koch Membrane Systems, Inc. (KMS), a global leader in membrane filtration technologies, announced today that it has provided PURON® Membrane Bio-Reactor (MBR) modules as part of a system upgrade to the wastewater treatment facility of KPR Mill Limited. KPR Mill is one of the largest apparel manufacturing companies in India. KPR Mill decided to upgrade their wastewater treatment facility from an old conventional plant to an advanced MBR technology due to its environmental commitment to ensure zero liquid discharge (ZLD) by recycling 100% of their wastewater. Among the key reasons for selecting the PURON® MBR modules are its unique design, including single header and central aeration, reliable and consistent operation, and strong after-market support from KMS.
 
KPR Mill has been using a conventional Effluent Treatment Plant (ETP).  Their old technology involved high chemicals consumption which required high maintenance levels, resulting in frequent production shut downs due to ETP failures.  The new MBR plant is designed to handle 3000 m³/day of textile effluent, utilizing two MBR trains. Initial results show that KPR Mill has reduced chemical costs and eliminated downtime, maximizing textile production. In addition to savings in operational cost and production optimization, KPR strives for an eco-friendly textile processing system. KPR’s selection of PURON® membranes help them achieve their goals of environmental sustainability.
 
“The membrane bioreactor technology from KMS operates very reliably and has resulted in a significant reduction of chemical, operating and maintenance costs of about 10%,” said Mr. C.R. Ananda Krishnan, executive director of KPR Mill Limited. “And as we are a trend setter in using eco-friendly advanced technologies, we were happy to have PURON® MBR as a technology partner who fits our needs and our vision.”
 
“KMS has developed advanced membrane solutions for the textile industry,” said Mr. Manny Singh, President of KMS. “Our products and services help the industry treat wastewater to meet strict discharge and reuse targets, and create value through various chemical recovery processes.”

Wielsbeke, Belgium – February 26, 2018 – Beaulieu Fibres International, the leading European polyolefin fibre producer, is once again the proud recipient of a “Distinguished Supplier” European Supplier Award from Yanfeng Automotive Interiors (YFAI). It is the second year in succession that the global leader in automotive interiors has recognised the significant expertise and support provided by Beaulieu Fibres International.

The very close cooperation between the two companies in 2017 enabled YFAI to successfully develop its latest generation of lightweight door panels, helping to further reduce weight. The technical team at Beaulieu Fibres International worked closely with YFAI’s development team to achieve this important step forward for the automotive industry.

Beaulieu Fibres International was presented with the award at YFAI’s annual European Supplier Award ceremony held this year on February 7th at its European headquarters in Neuss, Germany.

A total of 15 suppliers providing plastics, resins, chemicals, foams, trim and metal components received the European Supplier Award in various categories in recognition of their outstanding performance in 2017. Suppliers are rated on the factors of quality, cost, customer satisfaction, development, technology and innovation, and service.

The two AZL Partners Conbility GmbH and Fraunhofer IPT, Aachen started their long-term cooperation for the further development and for the commercialization of Fraunhofer´s tape-placement and tape winding systems with in-situ-consolidation by the usage of laser or IR heat sources.

With this cooperation, the company Conbility GmbH makes 25 years of expertise in special machine development of tape placement systems of the Fraunhofer Institute for Production Technology IPT commercially available. Conbility offers two different tape processing systems available in different configurations.

The “PrePro 2D” machine system allows for the automated tailored tape placement of UD laminates and which can be used for subsequent thermoforming or as stiffening structures in injection molding processes. The machine comprises a rotating and translational table which is moved relatively to the applicator station. The table is scalable according to the requirements of customers. Standard table diameters are 1200 mm or 2000 mm. The applicator station can be equipped with a single or with multiple spool applicators. Because of the large process area, a 9 kW IR heater is used for the in-situ-consolidation process.  
Three in one: Three technologies included in one single modular system
Furthermore, the award-winning “PrePro 3D” tape placement and winding applicator is available as modular product with decentral control system (including closed-loop control of energy input into the processing zone) for the “plug-in” implementation in existing robot systems or machine systems by standard interfaces for the communication with the master control system. Conbility provides the single applicator as well as turn-key ready systems including the robot and handling systems.

Unique selling point of the PrePro 3D system is its multifunctional range of usage: it accomplishes laser-assisted thermoplastic tape placement, IR-assisted thermoset prepreg placement and dry fiber placement: Three technologies included in one single modular system.  

During the JEC World in Paris (March 6th – 8th 2018), Conbility GmbH will present its new “VCSEL Tape Placement and Winding Applicator” (Fig. 3), developed in cooperation with Fraunhofer IPT and Philips Photonics at the AZL Composites in Action area (Hall 5A, C55).

VCSEL Laser Systems as heat source for lower investment and process costs
This applicator uses an integrated VCSEL Laser System as heat source which has been developed by Philips Photonics. This tape placement and winding applicator can also be integrated as modular “plug-in” system into industrial jointed-arm and linear gantry robots in variable manufacturing cells. Using the new VCSEL Laser as heat source (VCSEL: Vertical-Cavity Surface Emitting Laser) leads to significant lower investment and process cost in comparison to other laser systems. Furthermore, the VCSEL laser system can accomplish controllable in-process adjustments of the laser-spot geometry as well as the intensity distribution within the spot size during the process (in-process control of laser-spot geometries and intensities) for the first time. The new system with 2 kW laser power and 10 separate emission zones which can be controlled separately will be shown at JEC World in Paris 2018 as new product of Conbility GmbH.

Baldwin Technology Company Inc.’s exclusive and innovative Precision Application System—which realizes substantial savings of water, chemistry and energy while increasing productivity—was designed with companies like HanesBrands in mind.

HanesBrands—whose venerable apparel lines include Hanes, Champion, Playtex, Bali and Maidenform, to name a few—has set significant environmental stewardship goals to reduce energy consumption and water use. The company’s recent investment in Baldwin’s Precision Application Systems, with a textile finishing technology that allows for accurate and controlled placement and therefore, reduced use of end-of-line chemicals and water, will help HanesBrands achieve its environmental sustainability goals. Additionally, Baldwin’s groundbreaking application system improves output through greater flexibility, fewer production steps and increased uptime.

Mike Abbott, HanesBrands Global Director of Research and Innovation, said: “Baldwin fulfilled our requirements to provide a solution that optimizes our productivity while reducing our environmental impact.” HanesBrands thoroughly evaluated the technology for eight months in live production conditions with positive results. Abbott continued: “During the evaluation period of the system, we have had outstanding results in productivity increase, and we can clearly see that this technology will make a great contribution to our future efficiency and sustainability savings.”

Peter Hultberg, Chief Commercial Officer at Baldwin, said: “We are honored to partner with one of the world’s strongest apparel brands to help the company achieve not only its business goals, but also its corporate responsibility goals. The trust the HanesBrands team placed in Baldwin and our innovative application technology marks an important milestone for Baldwin and our quest to redefine the standards of sustainable textile finishing.”

The HanesBrands contract includes an option to supply 15 additional Precision Application Systems. 

The market for the production of carpet yarn is increasingly evolving towards more demanding processes. However, beyond commodity products, standard plants can no longer fully exploit their advantages. From 20th to 22nd March 2018, Oerlikon Neumag will be presenting an economical alternative in Shanghai in hall W3, booth F03 at the Domotex asia/Chinafloor, the leading floor covering trade fair in the Asia-Pacific region: the BCF plant Sytec One with single-end technology.

If the requirements for the production of BCF yarns increase, for example, from recycled polyester or fine filaments, then this can also lead to higher breakage rates. Highly standardised production plants must then often strike compromises with regard to throughput, quality or cost-efficiency. In such cases, the Sytec One offers a good solution instead of the mostly three-end technology plants for standard processes.

Single-end technology with 98% productivity

This BCF plant works with only one yarn (end) per position, making it ideal for demanding production processes. The reason: when a yarn break occurs only one yarn tears, all other yarns continue to run. This not only simplifies troubleshooting, it also reduces the re-threading time. In addition, less waste is produced. As a result, the productivity of the Sytec One is still over 98% for ten breakages a day, while a plant with three-end technology only reaches around 92%.

Faster processes due to a straight yarn path

In addition, the absolutely straight yarn path of the Sytec One enables significantly higher process speeds of up to 15% in spinning and texturing processes compared to multi-end technologies. Higher total titers of up to 6,000 dtex can also be produced without any problems. The gentle yarn guidance also ensures minimum friction on the individual filaments. This means less yarn breaks and a more stable process.

Optimised key component: spinning pack

Last but not least, the engineers at Oerlikon Neumag have developed a new design for the spinning pack. This central component of every BCF machine significantly influences the yarn quality. The corresponding solution for the Sytec One optimises the polymer flow in the spin pack, thus reducing the polymer dwell time. This leads to shorter product and colour change times and increases the plant efficiency. In addition, the spinning packs were widened so that yarns with up to 500 filaments can now be produced.

The product mix is decisive

In view of these advantages, the single-end Sytec One is recommended for processes with high breakage rates, fine filaments, frequent colour changes or in general when demanding processes take up an increasing share in the business. "The product mix is decisive for the choice of technology," sums up Alfred Czaplinski, Sales Manager BCF at Oerlikon Neumag. "We are happy to advise on the optimal solution and offer both single-end and three-end plant technologies." 

Good business at the Domotex Hanover, Germany

In the run-up to the trade fair, the Domotex Hanover in mid-January was already proving to be a promising harbinger. With four lively trade fair days and contract conclusions in the lower double-digit million euro range, mainly from the European and Asian markets, the order intake for Oerlikon Neumag was very good.

At the upcoming ISPO exhibition, SITIP are pleased to introduce BEHOT, a SITIP Heat Generating Technology for fabrics that has been licensed from the unique ROICA™ StretchEnergy™ System by Asahi Kasei and is already adopted by Santini that is offering Premium cycle wear Made in Italy since 1965.

SITIP is a leading Italian textile company specialized in high-tech and function-rich innovations for sport, technical underwear, shapewear, beachwear, footwear components, protective helmets, and in particular Velcro-receptive fabrics for mechanical fastening systems and a number of innovative technical fabrics for other industrial end-uses, all made through key manufacture technologies that include weft & warp knit fabric innovations.

Further, SITIP has more recently launched 16 unique trade brands, each one specialized in highly advanced innovation solutions designed to fit both market and the discerning needs of the contemporary consumer.

Santini is offering to the market a multi-panel thermal bib tight for the coldest winter training. Made with the special BeHot fabric by Sitip, constructed with the ROICA™ StretchEnergy™ active performance material, it not only insulates, but generates up to 2 degrees of heat as you workout as certified by CeRism, Outdoor Sport Research Centre at Verona University. Complete comfort and protection thanks to the Acquazero by Sitip treatment that ensures you stay dry even in the most challenging conditions.

The design is completed with breathable mesh braces for added comfort and a reflective pixel detail on the leg to improve visibility in low light conditions. BeHOT represents a special combination of a highly refined type of knitted construction combined with this unique ROICA™ Premium Stretch yarn function, and has been especially developed for this new high-function concept.

Sanitized®Odoractiv 10 with patented, dual-action technology

SANITIZED AG presents a new unique dimension to odor-management for functional polyester textiles. The newly developed wash-resistant Sanitized®Odoractiv 10 has a dual-action effect: on the one hand it prevents the bacteria from docking on the textile, and on the other, it adsorbs odors whilst the garment is being worn. The underlying technology that has been further developed was awarded the Swiss Technology Award. Goodbye permastink!

Manufacturers of functional polyester textiles from all over the world face the same challenge: freshly washed garments develop an unpleasant odor even after a short wearing period. The cause of this undesirable effect is not the human perspiration itself, but the bacteria that break down the perspiration. This process of decomposition generates the characteristic sweet, pungent smell. Once the bacteria, or the odor molecules, have penetrated into the surface of the polyester textile, they remain there permanently. Machine wash cycles and special detergents will never completely eliminate them. The bacterial colonization produces a biofilm on the polyester, which not only causes unpleasant odors, but also has a negative impact on the properties of the material.

Surface modulation with anti-adhesive properties
This is exactly where the new, dual-action technology from SANITZED AG comes into play: the surface of the textile is "coated" with Sanitized®Odoractiv 10 in the padding process. This creates a protective film on the surface of the textile. The bacteria use this anti-adhesive protective film as the basis for latching onto the garment. The bacteria can therefore be completely washed out in a normal wash cycle, consequently preventing any biofilm from forming. An anti-adhesion test method was developed in cooperation with EMPA to prove this Wash Effect.

The second advantage: Sanitized®Odoractiv 10 has a high adsorbing effect. Odors are "trapped" and removed during a normal wash cycle. The new product is the result of a technology that has been further developed and was awarded the Swiss Technology Award. The odor adsorption is identified using GC-MS.

As the Product Manager at SANITIZED AG, Urs Zihlmann, succinctly puts it: "Sanitized®Odoractiv 10 marks the end of permastink in polyester textiles." Sanitized®Odoractiv 10 can be combined with other Sanitized®products, in particular with products based on zinc pyrithione. The treatment does not influence the feel of the final treated textile.

Wash-resistant, sustainable and still "no nano"
The odor-reducing function is clearly still going strong even after 50 wash cycles. This is even the case if garments are washed at 30°C, either by hand or in the machine, meaning consumers save on water and energy, not to mention that the piece of clothing will look great for longer.

As with all its other products, SANITZED AG does not use any nano technology. The Hohenstein Institute has awarded the company the rating Skin Friendly, the bluesign®registration is underway. The product also bears the label Eco Passport by OEKO-TEX®.

"The unique, dual Odor Control Function of Sanitized®Odoractiv 10 enjoys a unique position in the market and it furthermore fulfills two market requirements: the prevention of permastink and the minimization of odor intensity during wear. Almost all manufacturers of functional polyester textiles are confronted with this problem," commented Urs Zihlmann. "The new technology creates tangible added value for consumers. This is a competitive differentiating
advantage for global marketing."

As with all other products, the service provided by SANITIZED AG includes technological advice before and during production, in the definition of the verified efficacy and in the use of the Sanitized®Ingredient Brand for promotional purposes.

• Metallic sheen and concealed safety

Net-like structures, metallic sheen, concealed safety, naturally-warming fabrics with Nilit® Heat yarn made of coffee charcoal and PFC-free bio technologies based on renewable raw materials are just some of the highlights of the Schoeller 2019/20 Winter Collection, developed and produced amidst the mountains of Switzerland. Color effects create metallic surfaces on functional textiles and exciting multi-colored looks with richly contrasting reverses.

METALLIC SHINE

The new schoeller®-spirit qualities provide grand style in winter 2019/20. The softly-flowing warp-knitted goods play with transparency and metallic looks. In forest green, silver or copper and aluminized reverse, this season’s  showpieces are also reflective. This play with light continues in the crosswise elastic lightweight with a reflecting dot design. This cool print with concealed safety in two-tone silver grey or khaki green ensures outstanding visibility at twilight. Additional water repellence is provided by the fluorocarbon-free ecorepel® Bio technology, based on renewable raw materials.

WARM FABRICS

The new schoeller®-dryskin qualities ensure a pleasantly warm body climate in winter 2019/20. Thanks to the insulating Nilit® Heat yarn on the interior, which captures and stores the body’s own heat, these fabrics warm the wearer naturally. This unique yarn produced using coffee charcoal posseses antibacterial properties and offers maximum clothing comfort at winter temperatures. The focused pants and jacket qualities in a variety of weights in fresh mandarin, deep aubergine, petrol or light stone also impress with their high abrasion resistance, ideal moisture management and reliable water repellence thanks to PFC-free ecorepel® Bio technology. The same natural heat retention is offered by the cozy schoeller®-naturetec in washable, mulesing-free wool and ecorepel® Bio in dark petrol, navy or rust.

MULTI COLOR

In addition to sustainable fabrics and technologies, winter 2019/20 is dominated by multi-coloration. The highly-elastic multi-colored schoeller®-prestige and schoeller®-dryskinqualities lead to completely new color effects and nuances. Ever-changing, exciting effects result from beautiful mossy greens and dark blue and grey variations to burnt henna and chocolate color combinations. Always with a contrasting color on the reverse, they are real eye-catchers which of course also impress in functional terms. In addition, the schoeller®-dryskin qualities are finished with the PFC-free ecorepel® Bio technology.

Nilit® Heat is a registered trademark of NILIT Ltd.

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.