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SoftBank’s Vision Funds Report Historic $27 Billion Loss

SoftBank’s Vision Funds Report Historic $27 Billion Loss

While the unraveling of ARK (and its flagship fund ARKK in particular) have come…

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SoftBank's Vision Funds Report Historic $27 Billion Loss

While the unraveling of ARK (and its flagship fund ARKK in particular) have come to epitomize the unraveling of the pandemic-era tech boom, Cathie Wood and company are rank amatures compared with Masa Son and SoftBank, who have seen their portfolio of rising tech firms hammered by the trifecta of global economic contagion: Rising rates in the US, China's COVID-inspired lockdowns (and before that, Beijing's crackdown on Chinese tech) and the fighting in Ukraine (and the inflationary hellscape that rising oil and food prices have unleashed).

We noted back in March that SoftBank's portfolio had seen $25 billion evaporate. Since then, the bleeding has only worsened.

To wit, SoftBank's two Vision Funds have posted historic investment losses of ¥3.5 trillion ($27.5 billion) over the 12 months to March 31 as the funds' biggest holdings were pummeled by rising interest rates and Beijing’s crackdown on the tech sector.

These losses helped drive Masayoshi Son’s conglomerate as a whole into its biggest-ever quarterly net loss of ¥2.1 trillion ($16.3 billion). Shares in the group closed down 8% on Thursday ahead of company's dour earnings report, tumbling to their lowest level in nearly two months. Meanwhile, for the year ended March 31, the Vision Fund swung to a loss of ¥2.64 trillion ($20.5 billion), compared with a ¥4.03 trillion profit in the previous year.

As we have reported many times before, the situation for SoftBank is much more dire than for ARK, because Masa Son's entire fortune is underwritten by SoftBank's debt-to-loan ratio. You see, it wasn't enough for Masa Son to invest his considerable fortune into emerging tech startups (remember, SoftBank has styled itself as nothing less than the "conductor of the AI revolution"). He decided to leverage up, using Softbank shares as his stock in trade, which leads us to this, SoftBank's loan-to-value ratio.

The company maintains that its LTV ratio has been "strictly maintained" below 25% for the last three years. But when additional borrowing is included, it's closer to 30%, says Jefferies analyst Atul Goyal. Last month, the company's main lender, Mizuho, spoke out to say it was "unconcerned" about SoftBank's ability to pay down its debt, and the company claims it has enough cash on hand to pay bond redemptions for at least the next two years.

Source: SoftBank

Among SoftBank's biggest losses include Didi, the Chinese ride-hailing giant which has seen its shares crumble to a fraction of their former value, and South Korean ride-hailing giant Coupang.

During Thursday's presentation, Masa Son started off by playing"defense" (as he put it): toward the beginning, there was a slide entitled “Concerns about SoftBank?” which addressed questions about his (and the company's) debt load, the decline in his equity holdings and his cash position.

Source: SoftBank

But during the presentation, he also spoke about his preference for playing "offense".

"In terms of personality, I do like to play offense," said Son. But with the "pandemonium" of COVID and war in Ukraine, he understands now is the time to play defense. “When it rains, you open an umbrella," he said.

Son clarified that SoftBank’s "safe driving" in recent months had solidified its financial position. He explained in a slide that the company has allocated 2.9 trillion yen of cash, or roughly twice the 1.3 trillion yen due for bond redemptions in fiscal 2022 and 2023.

Amusingly, in its earnings report, SoftBank insisted that its earnings remain strong, and that its loan-to-value ratio had actually improved over the past quarter.

"The investment environment remains challenging, dominated by fast-rising inflation, increasingly complex geopolitical risk and a global energy shock," said SoftBank. "Our conviction in the AI revolution remains strong; in the quarter we made 43 new investments."

But as we mentioned above, this is actually questionable.

Among SoftBank's many problems: it is heavily exposed to crackdown in China, thanks to its 25% stake in Alibaba, the e-commerce group founded by Jack Ma, which has come under increasing regulatory scrutiny (although the COVID pandemic has forced the CCP to shelve its "shared prosperity" crackdown...at least for now).

Fortunately for Masa Son, we imagine that if Japan's most visible national champion actually does experience a liquidity crisis, the BoJ - which has shown few qualms about buying up Japanese equities - would be more than willing to step in.

Tyler Durden Thu, 05/12/2022 - 15:20

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Economics

Morgan Stanley: SPX could return to its pre-pandemic 3,400 level

The S&P 500 index could return to its pre-pandemic 3,400 level in the coming months that translates to another 15% downside from here, warned a Morgan…

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The S&P 500 index could return to its pre-pandemic 3,400 level in the coming months that translates to another 15% downside from here, warned a Morgan Stanley analyst on Monday.

Don’t be fooled by the bear market rally

Michael Wilson dubs the recent bounce (about 4.0%) in U.S. equities a “bear market rally” and says investors should brace for more pain ahead as inflation and supply constraints remain a significant headwind. In his note, the analyst said:

With valuations now more attractive, equity markets so oversold an rates potentially stabilizing below 3.0%, stocks appear to have begun another material bear market rally. After that, we remain confident that lower prices are still ahead.

Last week, the U.S. Bureau of Labour Statistics said inflation stood at 8.30% in April – a marginal decline versus the prior month but still ahead of the Dow Jones estimate.

How to navigate the current environment?

Wilson continues to see a recession as unlikely, but agrees that the risk of such an economic downturn has certainly gone up. The U.S. economy unexpectedly shrank 1.40% in the first quarter of 2022.

That is just another reason why equity risk premium is too low, and stocks are still overpriced. The bear market won’t be over until valuations fall to levels (14 – 15x) that discount the kind of earnings cuts we envision, or earnings estimates get cut.

He recommends increasing exposure to real estate, health care, and utilities stocks to navigate the current environment, while tech and consumer discretionary stocks remain a big “no” for him.

The post Morgan Stanley: SPX could return to its pre-pandemic 3,400 level appeared first on Invezz.

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Economics

DNA Sequencing Market Size to Rise by USD 23.56 bn | 38% of the market growth to originate from North America| Technavio

DNA Sequencing Market Size to Rise by USD 23.56 bn | 38% of the market growth to originate from North America| Technavio
PR Newswire
NEW YORK, May 16, 2022

NEW YORK, May 16, 2022 /PRNewswire/ — According to the latest market analysis report “DNA S…

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DNA Sequencing Market Size to Rise by USD 23.56 bn | 38% of the market growth to originate from North America| Technavio

PR Newswire

NEW YORK, May 16, 2022 /PRNewswire/ -- According to the latest market analysis report "DNA Sequencing Market by Solution and Geography - Forecast and Analysis 2022-2026", the market will witness a YOY growth of 19.53% in 2022. The market is predicted to witness a potential growth difference of USD 23.56 billion at a CAGR of 20.85% from 2021 to 2026. The report is segmented by solution (products and services) and geography (North America, Europe, Asia, and Rest of World (ROW)).

 

For more insights on YOY and CAGR, Read our Sample Report

Vendor Insights 

The DNA sequencing market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. Companies are engaging in launching innovative market solutions to garner the attention of existing and new customers. To make the most of the opportunities and recover from post-pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • 10X Genomics Inc.
  • Abbott Laboratories
  • Agilent Technologies Inc.
  • Azenta US Inc.
  • Becton Dickinson and Co.
  • BGI Group
  • Bio Rad Laboratories Inc.
  • Danaher Corp.
  • Eurofins Scientific SE
  • F. Hoffmann La Roche Ltd.
  • Illumina Inc.
  • Macrogen Inc.
  • Merck KGaA
  • Pacific Biosciences of California Inc.
  • PerkinElmer Inc.
  • QIAGEN NV
  • SeqLL Inc.
  • Tecan Group Ltd.
  • Thermo Fisher Scientific Inc.

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Sample Report. 

Geographical Market Analysis 

The rising incidence of chronic diseases, increasing healthcare expenditure, and the presence of several key vendors in the region will facilitate the DNA sequencing market growth in North America over the forecast period. 38% of the market's growth is anticipated to be contributed by North America during the forecast period. The US is the key revenue-generating economy for DNA sequencing market in the region. Market growth in this region will be slower than the growth of the market in the European and Asian regions. 

Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/dna-sequencing-market-industry-analysis 

Key Segment Analysis

The products solution segment held the largest DNA sequencing market share in 2021. The segment will continue to account for the highest share throughout the forecast period. The growth of this segment can be attributed to the increasing demand for consumables in academic institutions and research centers and their expanding use in a wide range of genetic testing procedures.

View Sample Report: to know additional highlights and key points on various market segments and their impact in coming years. 

Key Market Scope

Technavio categorizes the global DNA Sequencing market as a part of the global life science tools and services market. Our report provides extensive information on the value chain analysis for the DNA sequencing market, which vendors can leverage to gain a competitive advantage during the forecast period.

The DNA sequencing market covers the following areas:

DNA sequencing Market Sizing
DNA sequencing Market Forecast
DNA sequencing Market Analysis

Key Market Drivers & Challenges: 

The rising adoption of NGS DNA sequencing technology has emerged as a crucial factor in influencing the market growth positively in the recent years. NGS enables the sequencing of entire human genome within one day and aid in revolutionized genomic research. In addition, NGS is increasingly being used for the diagnosis and treatment of chronic conditions including cancer and infectious diseases. Furthermore, NGS technology detects sequence variations effectively, and provides several genetic markers, including common and rare variants, further spurring its adoption. This is further expected to boost the DNA sequencing market growth.

However, the inadequate resources for DNA sequencing in developing countries will be a major challenge for the DNA sequencing market during the forecast period. The deployment of DNA sequencing has spurred in the recent years due to its investigative accuracy and overall minimized sequencing cost. However, DNA sequencing remains largely underutilized in developing countries, leading to limited R and D funding Furthermore, lack of skilled personnel coupled with high costs incurred in the establishment and maintenance of sequencing facilities will limit the overall market growth in the long run.

Download sample report copy  for highlights on market Drivers & Challenges affecting the DNA sequencing market.

Customize Your Report 

Don't miss out on the opportunity to speak to our analyst and know more insights about this market report. Our analysts can also help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.  

For tailor-made reports suiting your business requirements,  Speak to our Analyst now!

Related Reports: 

Next Generation Sequencing Market by Product and Geography - Forecast and Analysis 2021-2025

Microbiome Sequencing Services Market by End-user and Geography - Forecast and Analysis 2020-2024

Carrier Screening Market by Type and Geography - Forecast and Analysis 2022-2026

DNA Sequencing Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 20.85%

Market growth 2022-2026

$ 23.56 billion

Market structure

Fragmented

YoY growth (%)

19.53

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 38%

Key consumer countries

US, UK, Germany, China, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

10X Genomics Inc., Abbott Laboratories, Agilent Technologies Inc., Azenta US Inc., Becton Dickinson and Co., BGI Group, Bio Rad Laboratories Inc., Danaher Corp., Eurofins Scientific SE, F. Hoffmann La Roche Ltd., Illumina Inc., Macrogen Inc., Merck KGaA, Pacific Biosciences of California Inc., PerkinElmer Inc., QIAGEN NV, SeqLL Inc., Tecan Group Ltd., and Thermo Fisher Scientific Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Content

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Solution
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Solution

  • 5.1 Market segments
    • Exhibit 24: Chart on Solution - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Solution - Market share 2021-2026 (%)
  • 5.2 Comparison by Solution
    • Exhibit 26: Chart on Comparison by Solution
    • Exhibit 27: Data Table on Comparison by Solution
  • 5.3 Products - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Products - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Products - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Products - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Products - Year-over-year growth 2021-2026 (%)
  • 5.4 Services - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Services - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Services - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Services - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Services - Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Solution
    • Exhibit 36: Market opportunity by Solution ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 North America - Market size and forecast 2021-2026
    • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.4 Europe - Market size and forecast 2021-2026
    • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.5 Asia - Market size and forecast 2021-2026
    • Exhibit 50: Chart on Asia - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on Asia - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on Asia - Year-over-year growth 2021-2026 (%)
  • 7.6 Rest of World (ROW) - Market size and forecast 2021-2026
    • Exhibit 54: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
  • 7.7 US - Market size and forecast 2021-2026
    • Exhibit 58: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.8 UK - Market size and forecast 2021-2026
    • Exhibit 62: Chart on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 7.9 Germany - Market size and forecast 2021-2026
    • Exhibit 66: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.10 China - Market size and forecast 2021-2026
    • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.11 Japan - Market size and forecast 2021-2026
    • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 7.12 Market opportunity by geography
    • Exhibit 78: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 79: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 80: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 81: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 82: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 83: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 84: Matrix on vendor position and classification
  • 10.3 Agilent Technologies Inc.
    • Exhibit 85: Agilent Technologies Inc. - Overview
    • Exhibit 86: Agilent Technologies Inc. - Business segments
    • Exhibit 87: Agilent Technologies Inc. - Key news
    • Exhibit 88: Agilent Technologies Inc. - Key offerings
    • Exhibit 89: Agilent Technologies Inc. - Segment focus
  • 10.4 BGI Group
    • Exhibit 90: BGI Group - Overview
    • Exhibit 91: BGI Group - Product / Service
    • Exhibit 92: BGI Group - Key offerings
  • 10.5 Bio Rad Laboratories Inc.
    • Exhibit 93: Bio Rad Laboratories Inc. - Overview
    • Exhibit 94: Bio Rad Laboratories Inc. - Business segments
    • Exhibit 95: Bio Rad Laboratories Inc. - Key news
    • Exhibit 96: Bio Rad Laboratories Inc. - Key offerings
    • Exhibit 97: Bio Rad Laboratories Inc. - Segment focus
  • 10.6 Danaher Corp.
    • Exhibit 98: Danaher Corp. - Overview
    • Exhibit 99: Danaher Corp. - Business segments
    • Exhibit 100: Danaher Corp. - Key news
    • Exhibit 101: Danaher Corp. - Key offerings
    • Exhibit 102: Danaher Corp. - Segment focus
  • 10.7 Eurofins Scientific SE
    • Exhibit 103: Eurofins Scientific SE - Overview
    • Exhibit 104: Eurofins Scientific SE - Business segments
    • Exhibit 105: Eurofins Scientific SE - Key news
    • Exhibit 106: Eurofins Scientific SE - Key offerings
    • Exhibit 107: Eurofins Scientific SE - Segment focus
  • 10.8 F. Hoffmann La Roche Ltd.
    • Exhibit 108: F. Hoffmann La Roche Ltd. - Overview
    • Exhibit 109: F. Hoffmann La Roche Ltd. - Business segments
    • Exhibit 110: F. Hoffmann La Roche Ltd. - Key news
    • Exhibit 111: F. Hoffmann La Roche Ltd. - Key offerings
    • Exhibit 112: F. Hoffmann La Roche Ltd. - Segment focus
  • 10.9 Illumina Inc.
    • Exhibit 113: Illumina Inc. - Overview
    • Exhibit 114: Illumina Inc. - Business segments
    • Exhibit 115: Illumina Inc. - Key news
    • Exhibit 116: Illumina Inc. - Key offerings
    • Exhibit 117: Illumina Inc. - Segment focus
  • 10.10 PerkinElmer Inc.
    • Exhibit 118: PerkinElmer Inc. - Overview
    • Exhibit 119: PerkinElmer Inc. - Business segments
    • Exhibit 120: PerkinElmer Inc. - Key news
    • Exhibit 121: PerkinElmer Inc. - Key offerings
    • Exhibit 122: PerkinElmer Inc. - Segment focus
  • 10.11 QIAGEN NV
    • Exhibit 123: QIAGEN NV - Overview
    • Exhibit 124: QIAGEN NV - Product / Service
    • Exhibit 125: QIAGEN NV - Key news
    • Exhibit 126: QIAGEN NV - Key offerings
  • 10.12 Thermo Fisher Scientific Inc.
    • Exhibit 127: Thermo Fisher Scientific Inc. - Overview
    • Exhibit 128: Thermo Fisher Scientific Inc. - Business segments
    • Exhibit 129: Thermo Fisher Scientific Inc. - Key news
    • Exhibit 130: Thermo Fisher Scientific Inc. - Key offerings
    • Exhibit 131: Thermo Fisher Scientific Inc. - Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 132: Inclusions checklist
    • Exhibit 133: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 134: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 135: Research methodology
    • Exhibit 136: Validation techniques employed for market sizing
    • Exhibit 137: Information sources
  • 11.5 List of abbreviations
    • Exhibit 138: List of abbreviations

About Us: 
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. 

Contact 
Technavio Research 
Jesse Maida 
Media & Marketing Executive 
US: +1 844 364 1100 
UK: +44 203 893 3200 
Email: media@technavio.com 
Website: www.technavio.com/ 

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Economics

Jelenew becomes the only sports brand as the Signature Sponsor of amfAR Gala during the 75th Festival de Cannes

Jelenew becomes the only sports brand as the Signature Sponsor of amfAR Gala during the 75th Festival de Cannes
PR Newswire
WILMINGTON, Del., May 16, 2022

Jelenew x Stéphane cycling-pants dress will be auctioned off to support the fight against AID…

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Jelenew becomes the only sports brand as the Signature Sponsor of amfAR Gala during the 75th Festival de Cannes

PR Newswire

Jelenew x Stéphane cycling-pants dress will be auctioned off to support the fight against AIDS and COVID-19

WILMINGTON, Del., May 16, 2022 /PRNewswire/ -- AmfAR announced on April 26 that Jelenew would be an amfAR Signature sponsor during the 75th Cannes Film Festival. It is reported that Jelenew is the only athletic brand among them. And Jelenew will jointly create a cycling-pants dress newlook with Stéphane Rolland, and one of the cycling-pants dresses will auction at the dinner. This helps amfAR raise funds for the American AIDS Research Foundation to contribute to the global fight against AIDS (AIDS) and COVID-19.

As a pioneer challenger in the professional cycling apparel industry, Jelenew has always adhered to the brand concept of "born for women." It focuses on solving clothing and equipment problems in professional cycling for women. It is committed to providing women with cycling products that perfectly integrate "sport functionalism, comfort, and 3D structural aesthetics". The earliest motivation for Jelenew to develop "1+1 model" detachable outer padded cycling pants (1 pair of tight-fitting leggings + 1 pair of detachable outer padded cycling shorts) came from Jelenew's social responsibility and industry mission.

In tracing the evolution history of cycling pants, the Jelenew R&D team found that although there are significant structural differences and needs between men and women. In the past 100 years, male and female riders have worn the same built-in pad cycling pants structure. They know that the "cycling pad" significantly impacts cyclists; it is the core element that affects cycling pants' comfort, sports performance, and health and hygiene index. Unscientific structure and design will obliterate women's health, comfort, and beauty. The women's cycling apparel industry urgently needs a cycling brand that is "truly made for women," which can solve the pain points of female consumers from a female perspective. So those female cyclists can enjoy the same healthy riding as male cyclists.

Jelenew's creative director Di Liu, a former Chanel Haute Couture designer, established Jelenew's research team and product development team in Paris, France. According to the different physiological structures of men and women and the differentiated needs in the riding process, he took the lead in introducing the moulage technique into the design of professional cycling pants. He led the development of the first professional cycling pants for women, the Jelenew 1+1 model: detachable outer padded cycling pants. These cycling pants subvert the built-in pad structure of traditional cycling pants. They are the first professional cycling pants truly created for women globally. 

As the world's top charity dinner, amfAR has become one of the most anticipated events during the Cannes Film Festival. Each session has attracted many international celebrities to show up to help out. As a high-profile event, amfAR is also cautious in selecting cooperative brands. The list of official partners used to be Chopard, Bvlgari,Harry Winston and Louis Vuitton, the top brands loved by celebrities. This year, in the official invitation letter of amfAR, the cutting-edge brand Jelenew is listed, and it is the only signature sponsor other than Chopard.

Di Liu said: "Jelenew is honored to be the amfAR signature sponsor during the 75th Cannes Film Festival. Over the years, this good foundation has been dedicated to advocating the impact of AIDS and HIV, providing financial support to HIV/AIDS researchers worldwide, and seeking to translate their research findings into effective policy, prevention, and a therapeutic education program that benefits the world. Each of us has the power to drive transformation. As an individual, the power may not be that great. However, when we come together, we become world game-changers. Jelenew is proud to be a part of it. "

It is understood that the cycling-pants dress newlook of Jelenew x Stéphane Rolland, which will be auctioned at the charity dinner this time, draws inspiration from the golden age of Spain in the 17th century and is a "dark cycling bride" dress look with a sense of the times. Stéphane Rolland designs the black dress on the upper body according to the paintings of Goya and Velasquez and the large black tunic with more stripes. And sleeves are embroidered with Art Deco crystals. Jelenew is based on the first professional outer padded cycling pants. It is inspired by the "Goddess of Victory" in the Louvre Museum. It draws inspiration from the Spanish 17th-century noble knight pants to create a pair of cycling pants with feminine avant-garde. This is the first cross-field cooperation between Sports Technology and Haute Couture, a milestone in the fashion field. 

It is reported that all proceeds from the cycling-pants dress newlook auction will be donated to the "amfAR AIDS Research Fund."

About JELENEW 

Jelenew is an American avant-garde cycling brand born for women. It creates the first cycling pants truly made for women in the world. It brings the groundbreaking combination of "Haute Couture and Sportswear" and carefully designs each product with "luxury moulage technique" to provide a more refined sports experience and promote a healthy lifestyle for cyclists to enjoy elegant and stylish suburban cycling.

About amfAR and amfAR Gala 

amfAR, The Foundation for AIDS Research, is one of the world's leading nonprofit organizations dedicated to the support of AIDS research, HIV prevention, treatment education, and advocacy. Since 1985, amfAR has invested nearly $617 million in its programs and has awarded more than 3,500 grants to research teams worldwide.

Celebrities frequently donate items to be auctioned off for the foundation. Past donors have included Uma Thurman, Karlie Kloss, and Milla Jovovich. The 25th annual gala embraced the #MeToo movement. 25 prominent women chaired it on stage and screen, namely: Alessandra Ambrosio, Poppy Delevigne, Linda Evangelista, Sylvia Fendi, Aileen Getty, Kate Hudson, Scarlett Johansson, Milla Jovovich, Heidi Klum, Daphna Krim (daughter of Mathilde Krim), Karolina Kurkova, Sienna Miller, Angela Missoni, Mary Parent, Katy Perry, Natasha Poly, Aishwarya Rai, Vanessa Redgrave, Joely Richardson, Carine Roitfeld, Caroline Scheufele, Irina Shayk, Lara Stone, Donatella Versace, and Michelle Yeoh. Past items auctioned have included numerous photographs by Andy Warhol, Annie Leibovitz portrait sessions, stays in fashion moguls and celebrity houses, and 53-karat diamond jewelry. Heidi Klum notably donated her Bentley S3 convertible to garner one of the highest bids at €200,000.

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SOURCE Jelenew

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