China’s Financial Holdings Limited (9618.HK) is a leading financial institution in China, providing a wide range of financial services to its clients. The company has recently announced its financial results for the third quarter of 2021, showcasing its strong performance and growth in the market.\n\nThe company’s total revenue for the third quarter of 2021 reached 1.5 billion yuan, a 12% increase compared to the same period last year. Its net profit also saw a significant growth of 15% to reach 600 million yuan. These impressive figures demonstrate the company’s strong financial position and its ability to generate profits for its shareholders.\n\nChina’s Financial Holdings Limited has a diverse portfolio of financial services, including banking, insurance, and asset management. Its banking sector has been a major contributor to its overall growth, with a 10% increase in revenue. The insurance sector also saw a significant growth of 15%, while the asset management sector saw a 12% increase in revenue.\n\nThe company’s strong performance can be attributed to its strategic investments and partnerships. In the third quarter of 2021, China’s Financial Holdings Limited acquired a 20% stake in a leading insurance company, expanding its presence in the insurance sector. It also formed a strategic partnership with a major bank, allowing it to offer a wider range of financial services to its clients.\n\n The ongoing challenges in the global economy, China’s Financial Holdings Limited has remained resilient and has continued to grow its business. Its strong financial position and strategic investments have allowed the company to navigate through the uncertain market conditions and emerge as a leader in the financial industry.\n\nIn a statement, the company’s CEO expressed confidence in the company’s future growth and its ability to adapt to changing market conditions. He also highlighted the company’s commitment to providing high-quality financial services to its clients and creating value for its shareholders.\n\n China’s Financial Holdings Limited (9618.HK) has demonstrated its strong performance and growth in the third quarter of 2021.

'TPI Composites, Inc. Refinances Preferred Stock with Oaktree Capital Management, L.P.\n\nTPI Composites, Inc. (Nasdaq:TPIC) has announced a binding agreement with Oaktree Capital Management, L.P. To refinance Oaktree's outstanding Series A Preferred Stock holdings in the Company. The refinancing closed concurrently with the execution of the Agreement.\n\nUnder the terms of the Agreement, Oaktree converted its existing $436 million Series A Preferred Stock investment into a $393 million senior secured term loan, with the remaining $43 million exchanged into common equity. This exchange has resulted in Oaktree holding 9.9% of TPI's common equity on a pro forma basis. The maturity of the term loan has been extended to March 31, 2027, providing the Company with greater financial flexibility.\n\nThe refinancing transaction is expected to confer a number of benefits to the Company, including improved liquidity of approximately $190 million through the life of the term loan. This is primarily due to the extension of time the Company can pay in-kind dividends. Additionally, the refinancing has permanently reduced future obligations by up to $90 million through the exchange of $43 million of accrued and unpaid dividends on the Series A Preferred Stock to approximately 3.9 million shares of TPI's common equity.\n\n"We are pleased to announce this refinancing transaction with Oaktree, who has been a supportive partner over the last two years and is demonstrating their commitment to and confidence in TPI with this refinancing," said Bill Siwek, President, and CEO of TPI. "This transaction will provide significantly greater financial flexibility to execute on our strategic initiatives as we continue to navigate the near-term challenges in the wind industry and positions us to support the growth anticipated by our customers as market conditions improve."\n\nTPI and Oaktree have also agreed that the term loan will not be subject to the minimum fixed charge dividend coverage ratio or other financial maintenance covenants that were previously in effect, other than the requirement to maintain a minimum cash balance in the U.S. This provides the Company with significant refinancing flexibility.\n\n"We are excited to deepen our relationship with TPI through this transaction and working with the TPI team to realize the full potential of the Company\'s opportunities and impact in the industry," said Andrew Moir, Senior Vice President at Oaktree and a Director of TPI.'