Stockwinners Market Radar for August 02, 2024 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:50 EDT Greenlane Holdings trading halted, news pending

19:50 EDT Xylo Technologies Ltd trading halted, news pending

18:14 EDT Microsoft confirms Xbox game 'Avowed' delayed to February 18, 2025 - The company said in a post on X, formerly Twitter, "So many games coming! As such, we're moving Avowed to Feb 18, 2025 to give players' backlogs some breathing room."

17:20 EDT Ligand COO Matthew Korenberg to leave company - On August 2, in a regulatory filing, Ligand Pharmaceuticals announced that its President and COO, Matthew Korenberg, will be departing from the company. Korenberg's employment with the company will terminate effective upon the earlier of (i) October 31, 2024 and (ii) such date that Korenberg informs the company in writing of the termination of his employment with the company.

17:07 EDT RTX awarded $159.9M Navy contract - Raytheon was awarded a $159.9M firm-fixed-price contract for MK 15 Close-In Weapon System upgrades and conversions, system overhauls, MK 15 Mod 31 SeaRAM upgrade kits and conversions and associated hardware. Work is expected to be completed by October 2027. This contract was not competitively procured in accordance with 10 U.S. Code 2304(c)(1), only one responsible source and no other supplies or services will satisfy agency requirements. Naval Sea Systems Command is the contracting activity.

17:01 EDT Joyy names Ting Li chairperson and CEO - Joyyannounced that its board of directors has approved a carefully planned leadership succession. Ting Li, currently Director and Chief Operating Officer of the Company, will succeed David Xueling Li as Chairperson of the Board and Chief Executive Officer, effective immediately. David Xueling Li will continue serving as a member of the Board, ensuring continuity and supporting ongoing business momentum. David Xueling Li stated, "JOYY has become highly globalized, cultivating an engaging and vibrant user community worldwide. With robust localized operations and continuous innovation, we are poised to further diversify our revenue streams and seize new growth opportunities. The Board and I believe that this is the optimal time for leadership transition. I will remain as a member of the Board, exploring new long-term prospects while supporting the team." Effective immediately, Ting Li will assume the roles of Chairperson and CEO. She has been with the Company since 2011, serving as Chief Operating Officer since 2016, and joined the Board in November 2023. Her contribution in developing JOYY's ecosystem and enriching its content and product offerings has been pivotal. Prior to joining the Company, Ms. Li served as a product manager at Tencent from 2006 to 2011 after receiving a bachelor's degree from South China University of Technology.

16:59 EDT JPMorgan estimates reasonably possible losses up tot about $1.7B - In a regulatory filing, JPMorgan said it believes the estimate of the aggregate range of reasonably possible losses, in excess of reserves established, for its legal proceedings is from $0 to approximately $1.7B at June 30, 2024. This estimated aggregate range of reasonably possible losses was based upon information available as of that date for those proceedings in which the Firm believes that an estimate of reasonably possible loss can be made. For certain matters, the Firm does not believe that such an estimate can be made, as of that date.

16:51 EDT Uber Chief Legal Officer, Tony West, to take temporary leave of absence - On August 2, in a regulatory filing, Uber announced that Tony West, the company's Senior Vice President, Chief Legal Officer and Corporate Secretary, plans to take a temporary unpaid leave of absence commencing August 17 to volunteer on a political campaign in his personal capacity. Katie Waitzman, the company's Chief Deputy General Counsel, will assume West's duties as General Counsel, and Elizabeth Coleman, the company's Deputy General Counsel and Deputy Corporate Secretary, will assume West's duties as Corporate Secretary during such leave of absence.

16:35 EDT Plug Power names Dean Fullerton as COO - In a regulatory filing, Plug Power (PLUG) disclosed that on July 29, Dean Fullerton was appointed as the COO of Plug Power. Fullerton has more than 30 years of experience in the supply chain and logistics engineering industry. Prior to joining the company, he worked at Amazon.com (AMZN), where his career spanned 14 years and included many areas of responsibility, including most recently as Vice President of Global Engineering and Security Services from January 2020 to March 2024 and Vice President of Noth America Engineering Services from January 2017 to January 2020.

16:30 EDT Innoviz Technologies receives Nasdaq non-compliance letter - Innoviz Technologies announced that it has received a written notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC dated July 30, 2024, indicating that the Company no longer satisfies Nasdaq Listing Rule 5450(a)(1) based upon a closing bid price of less than $1.00 per share for the Company's ordinary shares for the prior 30 consecutive business day period. The notification from Nasdaq has no immediate effect on the listing of the Shares, and the Shares will continue to trade on the Nasdaq Capital Market under the symbol "INVZ".

16:12 EDT Arcadium Lithium acquires lithium metal business of Li-Metal for $11M in cash - Arcadium Lithium announced it has acquired the lithium metal business of Li-Metal Corp. The all-cash $11M acquisition includes the intellectual property and physical assets related to lithium metal production, including a pilot production facility in Ontario, Canada. Key personnel from Li-Metal's lithium metal business will be joining Arcadium Lithium as part of the acquisition. Maciej Jastrzebski, Li-Metal's co-founder and chief technology officer, has entered into a consulting agreement with Arcadium Lithium to facilitate the transfer of technology and integrate the team.

16:09 EDT VBI Vaccines provides update on restructuring proceedings, to delist shares - VBI Vaccines provided an update on the restructuring proceedings announced on July 30. On August 2, the United States Bankruptcy Court for the District of Delaware granted provisional relief under Chapter 15 of the U.S. Bankruptcy Code, and scheduled a further hearing to consider the recognition of the July 30, 2024, Ontario Superior Court of Justice order, which granted the company protection under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended. Additionally, he company received a letter from the listing qualifications department staff of the Nasdaq notifying the company that its common shares will be delisted from Nasdaq effective as of opening of business on August 8. The company does not intend to appeal the delisting determination.

16:07 EDT Jiade receives noncompliance letter from Nasdaq - Jiade announced that the company received a letter from the Nasdaq, notifying the company that it is not in compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rules for continued listing on the Nasdaq.

16:02 EDT Moody's exec Tulenko sells over 1,100 common shares - In a regulatory filing, Moody's Analytics president Stephen Tulenko disclosed the sale of 1,146.567 common shares of Moody's on July 31 at a price of $457.99 per share.

14:59 EDT Nexa Resources trading halted, volatility trading pause

14:45 EDT Lakeland Industries names Laurel Yartz Chief Human Resources Officer - Lakeland Industries announced the appointment of Laurel Yartz as Chief Human Resources Officer. Yartz most recently served as the Senior Human Resources Leader for Lewis Services.

13:56 EDT InFintT Acquisition Corp trading resumes

13:13 EDT Dun & Bradstreet jumps 11% to $10.37 after Reuters report of buyout interest

13:07 EDT Dun and Bradstreet trading halted, volatility trading pause

13:00 EDT Baker Hughes reports U.S. rig count down 3 to 586 rigs

12:00 EDT Meta Data Limited falls -25.1% - Meta Data Limited is down -25.1%, or -$1.13 to $3.37.

12:00 EDT Telus International falls -31.2% - Telus International is down -31.2%, or -$2.02 to $4.46.

11:33 EDT Avon Protection renamed Avon Technologies - Yesterday, the Group confirmed that Avon Protection plc has been renamed Avon Technologies plc. "As announced at the Group's Capital Markets Day on 8 February 2024 and again at the Group's Interim Results on 21 May 2024, the Board has chosen to change the name of the holding company to Avon Technologies plc to improve clarity and ensure there is no confusion between the Strategic Business Units, or 'SBUs,' and the wider Group. This new name recognises Avon's heritage while embracing the next stage of its development - accelerating growth through innovation in technology. The two SBU names, Avon Protection and Team Wendy, remain unchanged. The trading symbol 'AVON' and ISIN/SEDOL codes for the Company's ordinary shares listed on the London Stock Exchange remain unchanged," the Group stated in a notice to the London Stock Exchange.

10:36 EDT TENK Stock trading halted, volatility trading pause

10:25 EDT U.S. video game spending fell 5% y/y in June, says Circana - Circana analyst Mat Piscatella said that projected U.S. spending on video game hardware, content and accessories totaled $4.6B in June 2024, falling 5% when compared to a year ago. First half spending grew 1% compared to the first half of 2023, reaching $27.3B. Content spending dropped 2% in June vs. YA, to $4.1B. June mobile content spending growth of 12% combined with a 4% increase in non-mobile subscription content spending was ultimately offset by a 26% drop in console content spending. June video game hardware spending fell 37% when compared to a year ago, to $287M, and finished 1H 2024 31% lower vs.YA. During the first half of 2024 Switch (NTDOY) hardware spending was 48% lower than YA, while PlayStation 5 (SONY) declined by 28%, and Xbox Series (MSFT) fell 18%. PlayStation 5 again led the month's hardware market in unit and dollar sales. Nintendo Switch once again finished 2nd in unit sales, while Xbox Series ranked 2nd in dollars. These same rankings were reflected across 2024's total first half. June spending on Accessories fell 7% when compared to a year ago, to $204M. Growth in the Remote Play Device segment (PlayStation Portal) was offset by a 9% drop in Gamepads. Other publicly traded companies in the space include Electronic Arts (EA), GameStop (GME), NetEase (NTES), Take-Two (TTWO), Tencent (TCEHY) and Ubisoft (UBSFY). Reference Link

10:17 EDT Qilian International Holding Group Ltd trading halted, volatility trading pause

10:00 EDT Tutor Perini falls -26.1% - Tutor Perini is down -26.1%, or -$6.20 to $17.52.

10:00 EDT Cinemark rises 8.7% - Cinemark is up 8.7%, or $2.02 to $25.11.

09:54 EDT ARYA Sciences Acquisition Corp IV trading halted, volatility trading pause

09:48 EDT Telus International falls -29.2% - Telus International is down -29.2%, or -$1.89 to $4.59.

09:47 EDT Clipper Realty rises 6.9% - Clipper Realty is up 6.9%, or 26c to $4.04.

09:47 EDT RingCentral rises 11.1% - RingCentral is up 11.1%, or $3.70 to $37.15.

09:42 EDT DocGo awarded $4M contract extension - DocGo announced that Exceptional Medical Transportation, a DocGo subsidiary with a specialty in Critical Care Transportation, has been awarded a one-year, $4M contract extension to provide 911 basic life support services to the City of Atlantic City. The contract, which started on August 1, includes two additional one-year renewal options, potentially extending the partnership through 2027.

09:39 EDT Agilent receives FDA approval for MAGE-A4 IHC 1F9 pharmDx - Agilent announced that it has received FDA approval for the use of MAGE-A4 IHC 1F9 pharmDx as a diagnostic tool to aid in identifying patients with synovial sarcoma who may be eligible for treatment with Tecelra, a MAGE-A4-directed engineered TCR T-Cell therapy.

09:36 EDT Inspire Veterinary Partners Inc trading halted, volatility trading pause

09:34 EDT U.S. Tax Court enters decision on Coca-Cola tax case, reflects $6B in liability - The U.S. Tax Court completed the next step in the legal process by entering a decision in the ongoing tax case between Coca-Cola and the U.S. Internal Revenue Service. The decision reflects a liability of approximately $2.7B. With applicable interest, the total amount is anticipated to be approximately $6B. Coca-Cola believes the IRS and the Tax Court misinterpreted and misapplied the applicable regulations involved in the case and will defend its position on appeal. The company has 90 days to file a notice of appeal to the U.S. Court of Appeals for the Eleventh Circuit. The company looks forward to the opportunity to begin the appellate process and, as part of that process, will pay the agreed-upon liability and interest to the IRS. On Sept. 17, 2015, the company received a notice from the IRS seeking approximately $3.3B of additional federal income tax for years 2007 through 2009. In the notice, the IRS stated its intent to reallocate over $9B of income to the U.S. parent company from certain of its foreign affiliates retroactively, rejecting a previously agreed upon methodology without prior notice to the company. On October 15, 2015, the IRS designated this matter for litigation, precluding the company from any, and all, alternative means of resolution other than going to court. On November 18, 2020, the Tax Court issued an opinion in which it predominantly sided with the IRS. On November 8, 2023, the Tax Court issued a second related opinion also siding with the IRS on the remaining issue. The company said it believes it will prevail on appeal with respect to the issues raised in both the 2020 and 2023 Tax Court opinions. In line with the company's goal to be as transparent as possible, the company has also provided guidance on the potential outcome should it not to be successful on appeal. This guidance and other details about the tax case are available in the company's Securities and Exchange Commission filings, including the Form 10-Q filed on July 29.

09:30 EDT Asure Software trading halted, volatility trading pause

09:20 EDT Ford reports July U.S. sales down 0.2% to 173,223 vehicles - Ford reports July U.S. sales were down 0.2% to 173,223 vehicles versus 173,639 a year ago. Electric vehicle sales of 8,242 were up 31.2% year-over-year, hybrid vehicle sales of 16,825 were up 47.0% year-over-year and internal combustion vehicle sales of 148,156 were down 5.0% compared to last July.

09:15 EDT Amylyx granted orphan drug designation for AMX0035 - Amylyx announced the European Commission, or EC, based on an opinion issued by the Committee for Orphan Medicinal Products, or COMP, of the European Medicines Agency, or EMA, has granted orphan drug designation for AMX0035, Amylyx' proprietary, fixed-dose combination of sodium phenylbutyrate and taurursodiol for the treatment of Wolfram syndrome.

09:10 EDT Fortinet completes acquisition of Lacework - Fortinet announced that it has completed the acquisition of Lacework, a cloud security and cloud-native application protection platform, CNAPP, trailblazer, effective August 1, 2024. "The addition of Lacework aligns with Fortinet's commitment to protect our customers with innovative solutions that provide consistent security across on-premises and cloud environments," said Ken Xie, Founder, Chairman of the Board, and CEO at Fortinet. "Integrating Lacework's organically developed cloud-native platform with the Fortinet Security Fabric will result in the most comprehensive, full-stack AI-driven cloud security platform available from a single vendor."

09:03 EDT CleanSpark provides July 2024 Bitcoin mining update - CleanSpark released unaudited bitcoin mining and operations update for July 2024. Bitcoin mined in July: 494. Total bitcoin holdings as of July 31: 7,082. Month-end operating hashrate: 21.2 EH/s. The company sold 2.54 bitcoin in July 2024 at an average price of approximately $62,070 per bitcoin. The average hashrate throughout the month of July was 20.07 EH/s resulting in an average of 15.94 bitcoin mined daily and a single day high of 16.55. Hashing in Tennessee per the terms of the company's acquisition agreements with GRIID has begun. Under the co-location agreement approximately 50 MW of power is currently available, 1.0 EH/s of which was operational at month end, with an additional 1.28 EH/s expected to begin hashing by the end of the current week. In Wyoming, power agreements for 75 MW have been executed and the company has closed on its first Bitcoin mining site in the state. The initial 30 MW site will be immersion-cooled and is expected to add approximately 2 EH/s to CleanSpark's hashrate before the end of the year. The company expects to proceed with the closing of a second site in the coming weeks. The 15 MW Dalton expansion is expected to be hashing by early September 2024, leading to an increase of approximately 0.9 EH/s upon completion.

08:43 EDT Workhorse Group announces first delivery of W56 step van - Workhorse Group announced the first delivery of its W56 step van as part of an ongoing collaboration with NorCal Transports, a last-mile package delivery contractor in Richmond, California. The delivery, facilitated through Workhorse's Certified Dealer, Kingsburg Truck Sales, provides a significant opportunity to showcase the W56's outstanding real-world performance in the last-mile package delivery sector.

08:39 EDT Trump Media begins TV streaming rollout - Trump Media & Technology announced that the Company has commenced the phased rollout of its streaming platform, Truth+. TMTG begins moving existing beta testing of its Truth Social linear TV streaming to the Company's new content delivery network. After rigorous stress testing, the initial streaming service is expected to become available to all Truth Social users on the Web, followed shortly by its rollout on Android and iOS.

08:28 EDT Block board authorizing repurchase of up to an added $3B in shares - On August 1, Block announced that its board of directors approved an increase to the company's previously announced $1.0B share repurchase program, which has been completed, authorizing the repurchase of up to an additional $3.0B of the company's Class A common stock. "Repurchases may be made from time to time through open market purchases or through privately negotiated transactions subject to market conditions, applicable legal requirements and other relevant factors," the company stated in a regulatory filing. Reference Link

08:11 EDT Roblox CFO Michael Guthrie to resign - In a regulatory filing, Roblox stated that on August 1, Michael Guthrie, the company's Chief Financial Officer, notified Roblox of his intent to resign as Chief Financial Officer to pursue personal interests. "The company is working to identify a successor and Mr. Guthrie has agreed to remain in the role until a new Chief Financial Officer is appointed and will assist in the search for his successor," the company stated.

08:07 EDT 23andMe special committee responds to CEO's take-private proposal - The Special Committee of the Board of Directors of 23andMey sent the following letter to Anne Wojcicki, Chief Executive Officer, Co-Founder, and Chair of the Board of Directors of 23andMe, in response to Wojcicki's previously disclosed preliminary non-binding indication of interest to acquire all of the outstanding shares of 23andMe not owned by her or her affiliates or any other stockholder that she invites to roll over their shares for cash consideration of $0.40 per share of Class A Common Stock or Class B Common Stock: "We are disappointed with the proposal for multiple reasons, including because it provides no premium to the closing price per share on Wednesday, July 31st, it lacks committed financing, and it is conditional in nature. Accordingly, we view your proposal as insufficient and not in the best interest of the non-affiliated shareholders. Therefore, we are not prepared to move forward under the terms provided... Our expectation after months of work was that you would submit a fully-financed, fully-diligenced, actionable proposal that is in the best interests of the non-affiliated shareholders... the Special Committee is prepared to provide you and your potential investors with a limited amount of additional time to submit a revised proposal in line with our expectation. That revised proposal should not be subject to further diligence, and should be accompanied by fully committed financing, including an equity commitment letter on customary terms, that would fully finance the potential transaction... In the absence of a revised offer at a more appropriate price per share that meets the other requirements set forth above, we will pursue other alternatives in striving to maximize value for all shareholders."

08:04 EDT Dirtt Environmental announces debenture repurchase, enters support agreement - DIRTT Environmental Solutions announced today that it has entered into an agreement with 22NW Fund LP, DIRTT's largest shareholder, to purchase for cancellation an aggregate of C$18,915,000 principal amount of DIRTT's outstanding 6.00% convertible debentures due January 31, 2026 at a purchase price of C$684.58 per C$1,000 principal amount of January Debentures and C$13,638,000 principal amount of DIRTT's outstanding 6.25% convertible debentures due December 31, 2026 at a purchase price of C$665.64 per C$1,000 principal amount of December Debentures, for an aggregate purchase price of C$22,104,591.45, inclusive of a cash payment for all accrued and unpaid interest up to, but excluding, the date on which such Debentures are purchased by the Company. DIRTT also entered into a support and standstill agreement with 22NW and WWT Opportunity #1 LLC, DIRTT's second largest shareholder. The Support Agreement replaces the previously announced support and standstill agreement entered into with 22NW on March 22, 2024.

08:02 EDT CVRx announcs increased inpatient payment for barostim procedure - CVRx announced that Centers for Medicare and Medicaid Services, CMS, has reassigned the Barostim implant procedure for the inpatient setting as part of the Fiscal Year 2025 Medicare Hospital Inpatient Prospective Payment System, IPPS, final rule. "We applaud CMS' consideration and recognition of the resource requirements associated with the Barostim implant procedure. We believe that reassignment to MS-DRG 276 will facilitate increased access to the therapy for patients with heart failure by establishing sufficient reimbursement for the procedure when performed in an inpatient setting," said Kevin Hykes, President and CEO of CVRx.

08:01 EDT Iterum Therapeutics broadens patent estate for oral sulopenem - Iterum Therapeutics announced the United States Patent and Trademark Office, USPTO, has issued a notice allowance for two U.S. patents and the Canadian Intellectual Property Office, CIPO has issued a Canadian patent, all related to sulopenem etzadroxil and probenecid.

07:36 EDT CME Group reports July ADV of 24.8M contracts - CME Group reported its July 2024 market statistics set a new July average daily volume record of 24.8M contracts, up 24% from July 2023. The company's interest rate, equity index, metals, agricultural and options products also reached July ADV records, while its deeply liquid U.S. Treasury complex hit a new July volume record of 6.6M contracts. Reference Link

07:25 EDT Allego commences delisting from NYSE - Allego N.V. announced that it has commenced the process to voluntarily delist its ordinary shares from the NYSE following the completion of the previously announced tender offer by Madeleine Charging B.V., Allego's majority shareholder.

07:16 EDT Piper Sandler increases quarterly dividend 8% to 65c per share - The company's board declared a quarterly cash dividend on the company's common stock of 65c per share, an increase of 8% compared to the previous quarterly cash dividend. The dividend will be paid on September 13 to shareholders of record as of the close of business on August 29.

07:05 EDT Solaris completes socialization of initial district exploration programs - Solaris Resources announces the completion of joint socialization programs with government entities and local communities to support the initial exploration activities of its district exploration programs at its Warintza Project in southeastern Ecuador. The success of this socialization provides a template for broader ambitions in the northern Zamora belt for which the Company intends to secure a joint venture partner.

06:51 EDT Accenture acquires BOSLAN, terms not disclosed - Accenture has acquired BOSLAN, a provider of management services for large infrastructure projects, headquartered in Bilbao, Spain. With BOSLAN, Accenture will reinvent how clients engineer and execute net-zero infrastructure projects. By applying artificial intelligence and other digital technologies to asset lifecycle management, Accenture and the BOSLAN team will help clients optimize their project investments and become carbon-neutral faster.

06:32 EDT Exxon Mobil sees FY24 CapEx ~$28B - Capital and exploration expenditures were $7.0 billion in the second quarter including $0.7 billion from Pioneer, bringing year-to-date expenditures to $12.9 billion. The Corporation anticipates full-year capital and exploration expenditures to be approximately $28 billion, which includes the top end of the previously announced guidance for ExxonMobil of $25 billion, and about $3 billion for 8 months of Pioneer, consistent with their prior guidance.

06:20 EDT Chevron reports Q2 cash flow from operations 'in line with the year ago period'

06:18 EDT Chevron announces headquarters relocation to Texas, senior leadership changes - Chevron announced the relocation of the company's headquarters from San Ramon, California, to Houston, Texas, and senior leadership changes. The company's headquarters will move from San Ramon, California, to Houston, Texas. Chevron Chairman and CEO, Mike Wirth, and Vice Chairman, Mark Nelson, will move to Houston before the end of 2024 to co-locate with other senior leaders and enable better collaboration and engagement with executives, employees, and business partners. There will be minimal immediate relocation impacts to other employees currently based in San Ramon. The company expects all corporate functions to migrate to Houston over the next five years. Positions in support of the company's California operations will remain in San Ramon. Chevron currently has roughly 7,000 employees in the Houston area and approximately 2,000 employees in San Ramon. The company operates crude oil fields, technical facilities, and two refineries and supplies more than 1,800 retail stations in California. The company also announced the following leadership changes: Nigel Hearne, executive vice president, Oil, Products & Gas, will retire from Chevron after 35 years of service to the company. Since 2022, Hearne has led the consolidation of Chevron's Upstream, Midstream and Downstream businesses, ensuring a more integrated approach to value chains, asset class excellence and operational excellence. Mark Nelson, Chevron's vice chairman, will take responsibility for Oil, Products & Gas, effective October 1, 2024. Rhonda Morris, vice president and chief human resources officer, will retire after 31 years of service to the company. Since 2016, Morris has been responsible for shaping and driving Chevron's people and culture strategy, including leadership succession, learning and talent, diversity and inclusion, workforce planning and total rewards. Michelle Green, vice president, Human Resources, Oil, Products & Gas, will succeed Morris as vice president and chief human resources officer, effective January 1, 2025. Colin Parfitt, vice president, Midstream, will retire after 29 years of service to the company. Since 2019, Parfitt has been responsible for the company's shipping, pipeline, power and energy management and supply and trading operating units. The company appointed Andy Walz, currently president, America's Products, to president, Downstream, Midstream & Chemicals, effective October 1, 2024. In this role, Walz will be responsible for directing the company's worldwide manufacturing, marketing, lubricants, chemicals and additives businesses along with Chevron's shipping, pipeline, power, and trading units.

05:20 EDT Marriott enters pact with Zhong An to bring W Hotels brand to Hangzhou - Marriott recently announced that it has signed an agreement with Zhong An Commercial Group, part of China New City Group, to bring the W Hotels brand to Hangzhou. Anticipated to open in 2031, W Hangzhou will be located at the northwest intersection of Minhe Road and Liyi Road in Qianjiang Century City, Hangzhou's developing new CBD.