A very warm welcome to Ms. Jessica Zhong, as our Partner in AVISTA Beijing office. Jessica is primarily responsible for a comprehensive range of valuation services for financial reporting and transaction purposes in Beijing Office. With over 18 years’ experience in valuation and M&amp;A financial advisory in the PRC, Jessica has participated in several local and overseas projects for M&amp;A, IPO and financial reporting purposes across various industries. Jessica also participated in the theoretical and applied research related to valuation on investment value as a study group member of the SASAC, which supervises all state-owned enterprises in the PRC. Jessica has served a broad spectrum of state-owned enterprises and multinational corporations and brings a proven track record of developing strategic business plans for companies as well as financial models for their potential transactions. Prior to joining AVISTA, Jessica served as the Director of the valuation and modeling department in a global professional services firm. We are thrilled to have Jessica joining us and trust that she will lead our Beijing team to new heights in this newly created leadership role. <img src="../../../../../uploads/Slide1_109ac17cd6.PNG" alt="" width="450" height="253" /> <img src="../../../../../uploads/Slide2_9b80aeabcc.PNG" alt="" width="450" height="253" />

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New Partner Announcement: Welcome Ms. Jessica Zhong

Congratulations to all awardees! AVISTA is glad to be invited to be bronze sponsor of the HKUST-Sino One Million Dollar Entrepreneurship Competition 2022 and have witnessed the effort of fellow participating teams come to fruition. Open to both local and global participants for the first time, the annual flagship competition attracted a total of 175 teams this year, among which three out of nine finalist teams emerged as winners on 22 June. The final round presentation was evaluated by a panel of judges from around the world and broadcasted online to a global audience. In its 12th anniversary, the city-wide competition spotlights technology and innovation driven solutions incorporated with global perspective with a vision to shape Hong Kong into an international tech hub with a smart future. AVISTA is honored to sponsor the competition for two consecutive years and will continue our commitment to motivating innovation in the young minds of tomorrow. <img src="../../../../../uploads/All_Team_ce3d45668f.jpg" alt="" width="500" height="334" /> <img src="../../../../../uploads/b_3073258ca1.jpg" alt="" width="400" height="400" /> <img src="../../../../../uploads/b_3073258ca1.jpg" alt="" width="400" height="400" /> <img src="../../../../../uploads/d_76d1f986d4.jpg" alt="" width="400" height="400" />

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As the Sponsor of the HKUST-Sino One Million Dollar Entrepreneurship Competition 2022

AVISTA is pleased to be invited by The Hong Kong Chartered Governance Institute (HKCGI) to be the Silver Sponsor of their annual signature event – Annual Corporate Regulatory Update (ACRU) 2022. ACRU is a city-wide governance forum that gathers governance professionals, directors and senior management in the city to learn about the latest key corporate and regulatory developments, insights and enforcement trends directly from regulators each year. Representatives from regulatory bodies, including HKEX, SFC and CR, were invited to discuss and deliver practical governance with focuses on key company law, listed company and securities related law and regulations. Important regulatory compliance topics such as business ethics and data privacy protections were covered as well. The event attracted over 2000 participants. Staying current with the ever-changing regulatory landscape is critical to our quality advisory practices. Sharing the same notion– fostering better corporate governance – in our advisory work, AVISTA proudly supports ACRU 2022. <img src="../../../../../uploads/102_D7_R07291_ACRU_2022_LR_6ffc48834b.jpg" alt="" width="500" height="333" /> As the Silver Sponsor of ACRU 2022, our Managing Director, Mr. Vincent Pang (left) received souvenir from a representative of HKCGI. <img src="../../../../../uploads/108_A7407195_ACRU_2022_LR_8442656e97.jpg" alt="" width="500" height="333" /> Pre-conference Lunch

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As the Silver Sponsor of the HKCGI 23rd Annual Corporate Regulatory Update (ACRU 2022)

Our Managing Director, Mr. Vincent Pang was pleased to be invited by the Hong Kong Institute of Certified Public Accountants (HKICPA) to deliver a webinar titled “The Requirement and Technical Issues of Valuation in IPO” in its Entities Listing on HKEX Series. The series aim to provide practical up-to-date knowledge regarding the key aspects in listing, merger and acquisition of listed or listing entities on HKEX, financial restructuring of listed companies amid COVID-19 as well as effective measures to deal with fraud and financial account scandals to fellow financial professionals. In the webinar, Vincent covered technical topics concerning listing entities on HKEX in financial and property valuation practices, with in-depth illustration of the preliminary considerations, key rules and regulations, prevailing valuation report standards as well as various approaches and techniques in the course of IPO. <img src="../../../../../uploads/webinar_cc56c2a43d.png" alt="" width="517" height="200" />

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As Guest Speaker in HKICPA’s Entities Listing on HKEX Webinar Series – “The Requirement & Technical Issues of Valuation in IPO”

Vision Deal HK Acquisition Corporation has been successfully listed on the Mainboard of HKSE on 10 June 2022. AVISTA Group is honored to be engaged in providing valuation services. Vision Deal is a special purpose acquisition company (SPAC) that intends to acquire high-quality companies in China which specialize in smart car technologies or possess supply chain and cross-border e-commerce capabilities, that position them to benefit from domestic consumption upgrading trends. David Wei, the founding partner and chairman of Vision Knight Capital, DealGlobe and Opus Capital are promoters of the SPAC. Citigroup and Haitong International Capital are serving as joint sponsors. Vision Deal plans to accomplish the announcement within 18 months and the completion of a De-SPAC Transaction within 30 months from now. <img src="../../../../../uploads/Slide1_721945af3a.PNG" alt="" width="533" height="400" />

Congratulations to Vision Deal HK Acquisition Corp. (7827.HK) on its Successful Listing

Our Managing Director, Mr. Vincent Pang, was delighted to be invited on 2 June to deliver a workshop on startup valuation titled “What is Your Business Worth?” to the finalist teams at the HKUST-Sino One Million Dollar Entrepreneurship Competition 2022. During the webinar, Vincent shared a comprehensive overview on the fundamentals of various valuation methodologies, complemented by case studies, from evaluating financial health and growth potential to curating valuation models specific to startups. He also explored some possible material valuation issues that may have a significant impact on the business value and term sheet negotiation to prepare the teams for the pitching stage and final round. In its 12th anniversary, the HKUST-Sino One Million Dollar Entrepreneurship Competition 2022 is open to both local and overseas participants for the first time. As the bronze sponsor of the annual flagship entrepreneurial event, AVISTA gladly supports the city-wide competition to continue its vision of shaping Hong Kong into an international tech hub by facilitating a platform for the younger generation to realize their innovative ideas. <img src="../../../../../uploads/pic_social_2f202f3721.jpg" alt="" width="450" height="338" /> <img src="../../../../../uploads/AVISTA_Group_workshop_web_banner_v2_e2690bf5cc.png" alt="" width="450" height="238" />

As Guest Speaker of Startup Valuation Workshop “What is Your Business Worth?” at HKUST-Sino One Million Dollar Entrepreneurship Competition 2022

Yunkang Group Ltd. has been successfully listed on the Mainboard of HKSE on 18 May 2022. AVISTA Group is honored to be engaged in providing valuation services. Yunkang Group is a medical operation service provider in China established in 2008, primarily engaged in offering a full suite of diagnostic testing services for medical institutions. The group was among the top five major medical operation service providers in China in 2020, with a market share of 3.7% in terms of revenue, according to Frost &amp; Sullivan. Yunkang also ranked the second largest provider in China’s diagnostic testing services for medical institution alliances market in 2020, accounted for a 12.5% market share. The outbreak of the COVID-19 pandemic, and the subsequent growth in market needs for diagnostic services and supplies, the COVID-19 test kits in particular, have contributed to a surge in demand for Yunkang’s diagnostic outsourcing services, presenting a higher gross-profit margin accompanied by economies of scale.   Located in a diagnostic outsourcing service market with sizable growth potential, and equipped with own reliable diagnostic capabilities and a nationwide customer base, currently Yunkang operates three lines of business, namely diagnostic testing services for medical institution alliances, diagnostic outsourcing services and diagnostic testing services via outpatient clinic for non-medical institution customers.  The group targets to continue expanding its on-site diagnostic center network to capture a larger market share.
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