Korindo in its Transition to an Eco-Friendly Company ACN Newswire

Korindo in its Transition to an Eco-Friendly Company

October 3, 2022
JAKARTA, Oct 3, 2022 - (ACN Newswire via SEAPRWire.com) - Environmental issues and climate change get increasingly highlighted as nature declines at unprecedented speed and level. Continuous innovations and mass movements become necessary to soften impacts from the crises.Korindo Group acknowledges the need to transform into a more environmentally-friendly company by creating breakthroughs in its various business units. An example of this is Cibubur Square Rest Area, with which the company tries to alleviate organic waste dumping issues. Operated by Korindo Group, the public facility includes a bioconversion waste processing plant with BSF (Black Soldier Flies) as its biological agent."Poor food waste management practices remain prevalent in many places, and these practices bring negative long-term impacts to nature and human health. That is why we built this facility," said Seo Jeongsik, Korindo Foundation's General Secretary.Aside from being environmentally beneficial, the bioconversion process is relatively safe for the surrounding area and community. Of all 800 fly species on earth, the Black Soldier Fly stands out for its non-pathogenic nature and the absence of disease agents.This project marks the foundation's second collaboration with Forest For Life Indonesia (FFLI). In 2018, they built a similar plant in Lombok, West Nusa Tenggara.For years, Korindo Group has strived to be more eco-friendly, especially in developing its businesses. Its Paper Division has been awarded as an environmentally-friendly paper producer by the UN Environment Programme (UNEP), due to its use of recycled product.As we know, recycling is one of the ways to solve environmental problems caused by deforestation. Yet, despite using recycled material, Korindo Group pays attention to product quality by upholding ISO 9001:2015 Quality Management System.Korindo's Paper Division is one of the largest newsprint suppliers in Southeast Asia. Its mill is provided with DIP (Deinked Pulp) and paper machines with a total capacity of 330,000 MT per year. Boasting such a large capacity, the Division partners with a number of esteemed media companies, both domestic and abroad (Japan, United States, European countries). Korindo Group is also the region's only wind tower manufacturer, with more than 50 years of operation. The wind towers help industries generate environmentally-safe renewable energy.The factory has a production capacity of 500 towers per year, and received certification for ISO 14001:2000, ISO 9001:2000, and The National Board of Boiler & Pressure vessel DIN 18800-7 Class E Japan H-Grade. Today, over 3,000 towers (6 gigawatt) have been created and delivered around the world.Korindo Group, a leader across multiple industries in the South East Asian market, have a lot to be proud of. Over our 50 years of operation, we've built up our business by making a significant contribution to the country's economic development while simultaneously upholding environmentally friendly, future-oriented practices. Official Corporate Website: www.korindo.co.idOfficial News Website: www.korindonews.comOfficial Foundation Website: www.korindofoundation.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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HG Semiconductor and GCL Technology Founder Mr Zhu Gongshan Officially Enters Shares Subscription and Warrants Subscription Agreements ACN Newswire

HG Semiconductor and GCL Technology Founder Mr Zhu Gongshan Officially Enters Shares Subscription and Warrants Subscription Agreements

October 1, 2022
HONG KONG, Sep 30, 2022 - (ACN Newswire via SEAPRWire.com) - HG Semiconductor Ltd (6908.HK) is pleased to announce that it has officially entered into a subscription agreement with Mr. Zhu Gongshan, the Founder, Chairman and Executive Director of GCL Technology Holdings Ltd (GCL; 3800.HK) regarding the Investment Agreement on 4 August 2022.Pursuant to the Investment Agreement, the Group has agreed to issue, and Mr. Zhu has agreed to 60 million Shares Subscription and 60 million Warrants Subscription. In view that the due diligence examinations have been completed, and that Mr. Zhu is reasonably satisfied with the results of the examinations, he will participate in the Shares Subscription and Warrants Subscription through his designated beneficially owned entity Profit Act Limited. Upon completion of the Shares and Warrants Subscription, Mr. Zhu will become the major strategic shareholder of the Group. As at 30 September 2022, the Group has 573,019,000 shares in issue. Pursuant to the Share Subscription Agreement, the 60 million subscription shares represent approximately 10.47% of the existing issued share capital of the Group. After the deduction of relevant costs and expenses, the net proceeds from the Shares Subscription are estimated to be approximately HK$180 million. The net price per subscription share upon the completion of the Shares Subscription is estimated to be approximately HK$3.00 per subscription share. In addition, assuming full exercise of the subscription rights attached to the warrants, the 60 million warrant shares represent approximately 10.47% of the existing issued share capital of the Group, while the gross and net proceeds from the Warrants Subscription are estimated to be approximately HK$220.8 million. The maximum net price per warrant share upon full exercise of the subscription rights attached to the warrants is estimated to be approximately HK$3.68 per warrant share. The Group intends to use the maximum proceeds from the Shares Subscription and the Warrants Subscription of approximately HK$400.8 million for the development of its gallium nitride (GaN) business. The completion of the Shares Subscription and Warrants Subscription are subject to the satisfaction and/ or fulfilment of certain conditions precedent, and the Group will convene an extraordinary general meeting (EGM) to seek a specific mandate from shareholders for the allotment and issue of the Shares. Mr. Zhu is the Founder and Executive Director of GCL Technology Holdings Limited. He was a member of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC) and is currently a member of the 12th Jiangsu Province Committee of the CPPCC, the chairman of the Global Green Energy Industry Council, the vice chairman of the Global Innovation Centre, the chairman of Asian Photovoltaic Industry Association, the deputy director of the Green and Low Carbon Development Promotion Committee of China Enterprise Confederation, the executive vice president of the Energy Storage and Electric Vehicle Branch of China Electricity Council. Over the years, Mr. Zhu has been involved in the fields of power photovoltaic, natural gas, new energy vehicle operations and semiconductor sectors etc. Meanwhile, Mr. Zhu has a great influence in Xuzhou; with all major strategic deployment of GCL Group rooted in Xuzhou and started in Jiangsu.Earlier on, HG Semiconductor also entered into a strategic cooperation framework agreement on 7 September 2022 with Golden Concord Group Limited ("Golden Concord Group"), a discretionary trust with Mr. Zhu Gongshan and his family members as beneficiaries, with the intention to establish close cooperation in application of gallium nitride (GaN) power chips in the fields of new energy, including Golden Concord Group or its subsidiaries will be involved in equity of the Group or its subsidiaries to establish in-depth cooperation. HG Semiconductor and Golden Concord Group will establish a domestic new energy joint venture (the "JV Company") to tap into the application of GaN chips in the field of new energy, including but not limited to technologies and equipment on charging/exchanging batteries, energy storage technology and related equipment and distributed solar inverters. The Group will provide technical support to the JV Company and jointly develop application products based on silicon-based power chips and third-generation semiconductors. Mr. Zhu's investment in HG Semiconductor through his family trust and the signing of the strategic cooperation framework agreement with the Group are not only a recognition of the future development potential of the third-generation semiconductor business, but also demonstration of his confidence in the strategic development of the Group. The completion of the investment agreement signifies that the Group has formally established a close partnership with Golden Concord Group and will further develop its integrated industrial chain in the third-generation semiconductor arena and achieve rapid development of production capacity and products.After nearly two years of business transformation, the Group has established a relatively prominent advantage in the field of GaN power semiconductors and new energy sector. With the completion of the Subscription Agreement with Mr. Zhu Gongshan and leveraging on his background as the major strategic shareholder of the Group, the Group expects that Mr. Zhu can (i) coordinate the resources of the new energy industry and form strategic synergy with the Group's third-generation semiconductors (especially power chips) to form complementary industrial resources; (ii) use his financial resources and business network to assist the Group in the rapid development of production capacity and products; (iii) assist the Group to work closely with local governments to improve the policies and supports for the third-generation semiconductor industry; and (iv) use his own experience in operation and management to assist the Group to build up its talents, operations, technology, as well as research and development.With the evolution of the technological revolution, the semiconductor industry has been deeply integrated into the new energy industry. For the future of mass energy system, the third-generation semiconductor GaN will play a core role and serve as a bridge between photovoltaic and mass energy systems. The management of the Group believes that the industrial resources of Golden Concord Group are expected to bring vast application opportunities for HG Semiconductor, enabling the Group to further accelerate the development of GaN technology and application in the field of new energy. The Shares Subscription and Warrants Subscription represent a good opportunity for the Group to raise additional capital for the its GaN business development, thereby enhancing the Group's research and development capabilities and moving towards the goal of becoming an integrated device manufacturing ("IDM") enterprise with semiconductor design and manufacturing as the core, as well as the integration of manufacturing, testing, and sales. In view of the strong demand for high-tech semiconductor products in both domestic and overseas markets, coupled with the promotion of national policies, the Group expects its GaN business development to grow steadily.About HG Semiconductor LimitedHG Semiconductor Limited (6908.HK) is principally engaged in the semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode (LED) beads and a new generation of semiconductor gallium nitride (GaN). The Group is committed to accelerating its research and development and expansion in the application of GaN-related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost.For more details, please visit www.hg-semiconductor.com. Copyright 2022 ACN Newswire. All rights reserved. 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HG Semiconductor and GCL Technology Founder Mr. Zhu Gongshan Officially Entered into Shares Subscription and Warrants Subscription Agreement, Mr. Zhu Gongshan has Become Major Strategic Shareholder of the Group ACN Newswire

HG Semiconductor and GCL Technology Founder Mr. Zhu Gongshan Officially Entered into Shares Subscription and Warrants Subscription Agreement, Mr. Zhu Gongshan has Become Major Strategic Shareholder of the Group

September 30, 2022
HONG KONG, Sep 30, 2022 - (ACN Newswire via SEAPRWire.com) - HG Semiconductor Limited ("HG Semiconductor", together with its subsidiaries, "the Group"; Stock Code: 6908.HK) is pleased to announce that the Group has officially entered into subscription agreement ("Subscription Agreement") with Mr. Zhu Gongshan ("Mr. Zhu"), the Founder, Chairman and Executive Director of GCL Technology Holdings Limited ("GCL", Stock Code: 3800.HK) regarding the Investment Agreement ("Investment Agreement") on 4 August 2022.Pursuant to the Investment Agreement, the Group has agreed to issue, and Mr. Zhu has agreed to subscribe for 60 million subscription shares ("Shares Subscription") and 60 million warrants ("Warrants Subscription"). In view that the due diligence examinations have been completed, and that Mr. Zhu is reasonably satisfied with the results of the examinations, he will participate in the Shares Subscription and Warrants Subscription through his designated beneficially owned entity Profit Act Limited. Upon completion of the Shares and Warrants Subscription, Mr. Zhu will become the major strategic shareholder of the Group. As at 30 September 2022, the Group has 573,019,000 shares in issue. Pursuant to the Share Subscription Agreement, the 60 million subscription shares represent approximately 10.47% of the existing issued share capital of the Group. After deduction of relevant costs and expenses, the net proceeds from the Shares Subscription are estimated to be approximately HK$180 million. The net price per subscription share upon the completion of the Shares Subscription is estimated to be approximately HK$3.00 per subscription share. In addition, assuming full exercise of the subscription rights attaching to the warrants, the 60 million warrant shares represent approximately 10.47% of the existing issued share capital of the Group, while the gross and net proceeds from the Warrants Subscription are estimated to be approximately HK$220.8 million. The maximum net price per warrant share upon full exercise of the subscription rights attaching to the warrants is estimated to be approximately HK$3.68 per warrant share. The Group intends to use the maximum proceeds from the Shares Subscription and the Warrants Subscription of approximately HK$400.8 million for the development of its gallium nitride (GaN) business. The completion of the Shares Subscription and Warrants Subscription are subject to the satisfaction and/ or fulfillment of certain conditions precedent, and the Group will convene an extraordinary general meeting (EGM) to seek a specific mandate from shareholders for the allotment and issue of the Shares. Mr. Zhu is the Founder and Executive Director of GCL Technology Holdings Limited. He was a member of the 12th National Committee of the Chinese People's Political Consultative Conference (the "CPPCC") and is currently a member of the 12th Jiangsu Province Committee of the CPPCC, the chairman of Global Green Energy Industry Council, the vice chairman of Global Innovation Centre, the chairman of Asian Photovoltaic Industry Association, the deputy director of the Green and Low Carbon Development Promotion Committee of China Enterprise Confederation, the executive vice president of the Energy Storage and Electric Vehicle Branch of China Electricity Council. Over the years, Mr. Zhu has been involved in the fields of power photovoltaic, natural gas, new energy vehicle operations and semiconductor sectors etc. Meanwhile, Mr. Zhu has a great influence in Xuzhou; with all major strategic deployment of GCL Group rooted in Xuzhou and started in Jiangsu.Earlier on, HG Semiconductor also entered into a strategic cooperation framework agreement on 7 September 2022 with Golden Concord Group Limited ("Golden Concord Group"), a discretionary trust with Mr. Zhu Gongshan and his family members as beneficiaries, with the intention to establish close cooperation in application of gallium nitride ("GaN") power chips in the fields of new energy, including Golden Concord Group or its subsidiaries will be involved in equity of the Group or its subsidiaries to establish in-depth cooperation. HG Semiconductor and Golden Concord Group will establish a domestic new energy joint venture (the "JV Company") to tap into the application of GaN chips in the field of new energy, including but not limited to technologies and equipment on charging/exchanging batteries, energy storage technology and related equipment and distributed solar inverters. The Group will provide technical support to the JV Company and jointly develop application products based on silicon-based power chips and third-generation semiconductors. Mr. Zhu's investment in HG Semiconductor through his family trust and the signing of the strategic cooperation framework agreement with the Group are not only a recognition of the future development potential of the third-generation semiconductor business, but also demonstration of his confidence in the strategic development of the Group. The completion of the investment agreement signifies that the Group has formally established a close partnership with Golden Concord Group and will further develop its integrated industrial chain in the third-generation semiconductor arena and achieve rapid development of production capacity and products.After nearly two years of business transformation, the Group has established a relatively prominent advantage in the field of GaN power semiconductors and new energy sector. With the completion of the Subscription Agreement with Mr. Zhu Gongshan and leveraging on his background as the major strategic shareholder of the Group, the Group expects that Mr. Zhu can (i) coordinate the resources of the new energy industry and form strategic synergy with the Group's third-generation semiconductors (especially power chips) to form complementary industrial resources; (ii) use his financial resources and business network to assist the Group in the rapid development of production capacity and products; (iii) assist the Group to work closely with local governments to improve the policies and supports for the third-generation semiconductor industry; and (iv) use his own experience in in operation and management to assist the Group to build up its talents, operations, technology, as well as research and development.With the evolution of the technological revolution, the semiconductor industry has been deeply integrated into the new energy industry. For the future of mass energy system, the third-generation semiconductor GaN will play a core role and serve as a bridge between photovoltaic and mass energy systems. The management of the Group believes that the industrial resources of Golden Concord Group are expected to bring vast application opportunities for HG Semiconductor, enabling the Group to further accelerate the development of GaN technology and application in the field of new energy. The Shares Subscription and Warrants Subscription represent a good opportunity for the Group to raise additional capital for the its GaN business development, thereby enhancing the Group's research and development capabilities and moving towards the goal of becoming an integrated device manufacturing ("IDM") enterprise with semiconductor design and manufacturing as the core, as well as the integration of manufacturing, testing, and sales. In view of the strong demand for high-tech semiconductor products in both domestic and overseas markets, coupled with the promotion of national policies, the Group expects its GaN business development to grow steadily.About HG Semiconductor LimitedHG Semiconductor Limited (6908.HK) is principally engaged in semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode ("LED") beads and a new generation of semiconductor gallium nitride ("GaN"). The Group is committed to accelerating its research and development and expansion in the application of GaN related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost.For more details, please visit www.hg-semiconductor.com Copyright 2022 ACN Newswire. All rights reserved. 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Q&M Group awards 7 dentists with Performance Shares,12-year Service Agreements, and a Private Placement ACN Newswire

Q&M Group awards 7 dentists with Performance Shares,12-year Service Agreements, and a Private Placement

September 30, 2022
SINGAPORE, Sep 30, 2022 - (ACN Newswire via SEAPRWire.com) - Mainboard-listed Q&M Dental Group (Singapore) Limited [SGX: QC7] announced on 29 September 2022 the award of 2,014,245 shares to 7 promising next-generation dentists as part of the Q&M Performance Share Plan (PSP) 2018, as well as the proposed placement of an additional 4,985,755 treasury shares, totalling S$1.75 million, through placement to the same dentists.These 7 Key Dentists are the recipients of awards under the PSP 2018 by Q&M in its announcement dated 29 September 2022. These Key Dentists have also expressed their interest to subscribe for further shares as an expression of their confidence in and their commitment to the continued success of the company. They intend to enter into an arrangement similar to that entered into between the founding dentists of the Group in respect of Q&M's controlling shareholder, Quan Min Holdings Pte. Ltd., in order to hold their Shares in Q&M.The placement of 4,985,755 treasury shares at a price of 35.1 Singapore cents is based on the volume weighted average price (VWAP) for trades done on the shares of Q&M on the Singapore Exchange for the full market day on 29 September 2022, being the market day on which the Placement Letters were executed. This amounts to a gross consideration of S$1.75 million."The Board is heartened by the decision of these Key Dentists to cement their association with the Company in tying their long-term futures with the future success of Q&M Dental Group. These high-performing dentists represent some of the very best of the Company's dentists and the quality of their work is demonstrated on a day-to-day basis. We are very pleased to see them take this next major step. The Company's next generation management could even be among them!" said Dr Ng Chin Siau, CEO, Q&M Dental Group.The Board is approached from time to time by its dentists who seek opportunities to participate in the growth of Q&M through equity investments. Share-based incentive schemes such as PSP 2018 Plan are somewhat limited in scope and do have a direct impact on Q &M's bottom line.Q&M's Board is thus of the view that a placement exercise to its own dentists brings greater benefit to the Group in the following ways:- Allows key dentists to participate in the equity of Q&M by investing their own funds, thereby aligning their interests with those of the Group. This alignment of interest promotes greater dedication, loyalty and higher standards of performance amongst dentists; and- Strengthens the capital base of Q&M and increases Q&M's public spread, which has the potential to improve the level of trading liquidity of its Shares.Dr Karan Singh Ubhi (one of the 7 Key Dentists) said, "We are grateful for the opportunity given by the Board to participate in the success of the Company and appreciate also the recognition of the work and effort that we have put in. We are firmly committed to the continued success of Q&M Dental Group and hope to contribute positively to its growth going forward."The Board believes that the Proposed Placement provides an effective way of motivating the Key Dentists to maximise their performance by investing in the Group's future, which will result in creating better value for Q&M and its shareholders.Dr Tabitha Foo, another of the 7 dentists said: "Having worked at Q&M, I have witnessed first-hand, the commitment of the management in identifying and grooming the next generation of leaders and am extremely proud to be given the opportunity to participate in this share placement and having a personal stake in the success of Q&M."Q&M board of directors understands that the Key Dentists are in the process of incorporating a new company, "Quan Min Plus 2 Pte. Ltd." to hold their Shares. The Board further notes that a similar voluntary arrangement was entered into previously by another 9 next-gen dentists on the Group through a company called Quan Min Plus Pte. Ltd., as announced by the Company on 23 October 2020.Q&M intends to use all of the Net Proceeds of approximately S$1.70 million raised for its general working capital purposes, such as business expansions, acquisitions and/or paying off loans.The Board and management of Q&M will continue to work hard in identifying the best talent within the Company, with the aim of mentoring their growth, grooming some of them to positions of leadership, while also giving them direct opportunities to participate in the growth of the Company in line with their corporate mission.About Q&M Dental Group (Singapore) Limited [SGX QC7.SI] [BIC QNM:SP] [RIC QMDT:SI]Q&M Dental Group (Singapore) Limited (QC7.SI) ("Q&M" or together with its subsidiaries, the "Group") is a leading private dental healthcare group in Asia.The Group owns the largest network of private dental outlets in Singapore, operating 106 dental outlets across the country. Underpinned by about 270 experienced dentists and over 350 supporting staff, the Group sees an average of 40,000 patient visits a month in Singapore. The Group also operates 5 medical clinics and a dental supplies and equipment distribution company.Outside of Singapore, the Group has 45 dental clinics and a dental supplies and equipment distribution company in Malaysia, as well as a dental clinic in the People's Republic of China ("PRC"). Q&M is also the substantial shareholder of Aoxin Q&M Dental Group Limited, a dental Group listed on the Catalist board of the Singapore Exchange that operates dental clinics and hospitals primarily in the north- eastern region of the PRC. The Group aims to expand its operations geographically and vertically through the value chain in Malaysia, the PRC and within the ASEAN region.The Q&M College of Dentistry was established in 2019 to offer postgraduate dental education as part of its commitment to continual education and professional development of dentists. It offers Singapore's first private postgraduate diploma programme in clinical dentistry.In 2020, the Group expanded into the medical laboratories and research industry with the strategic investment into Acumen Diagnostics Pte. Ltd. ("Acumen"). Acumen currently focuses on the manufacture, sale and distribution of COVID-19 diagnostic test kits, as well as COVID-19 testing. It is also working to roll out a pipeline of new tests, including PCR assays for dengue, sepsis and, identification of bacterial pathogens and their associated antibiotics resistance in pneumonia and bloodstream infections.EM2AI Pte Ltd, a wholly-owned subsidiary of the Group that focuses on developing AI-powered solutions to diagnosis and treatment planning has rolled out IDMS, enabling dentists within the Group's network to administer ethical treatment plans for patients.The Group was listed on the Mainboard of the Singapore Exchange Securities Trading Limited ("SGX- ST") on 26 November 2009. For more information on the Group, please visit www.QandMDental.com.sgSGX Links Reference:- Press Release: https://tinyurl.com/sgx-qm-20220930-pr- Treasury Shares: https://tinyurl.com/sgx-qm-20220930-tres- Employee Stock Options: https://tinyurl.com/sgx-qm-20220930-esoFor more information, please contact:Waterbrooks Consultants Pte LtdWayne KooTel: +65 9338-8166Email: wayne.koo@waterbrooks.com.sg Derek YeoTel: +65 9791-4707Email: derek@waterbrooks.com.sgProud Investor Relations partner: https://www.waterbrooks.com.sg/ and https://www.shareinvestorholdings.com/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Eisai’s Lecanemab Confirmatory Phase 3 Clarity AD Study Met Primary Endpoint JCN Newswire

Eisai’s Lecanemab Confirmatory Phase 3 Clarity AD Study Met Primary Endpoint

September 28, 2022
TOKYO, Sep 28, 2022 - (JCN Newswire via SEAPRWire.com) - Eisai Co., Ltd. and Biogen Inc. (Nasdaq: BIIB) announced positive topline results from Eisai's large global Phase 3 confirmatory Clarity AD clinical trial of lecanemab (development code: BAN2401), an investigational anti-amyloid beta (Abeta) protofibril antibody for the treatment of mild cognitive impairment (MCI) due to Alzheimer's disease (AD) and mild AD (collectively known as early AD) with confirmed presence of amyloid pathology in the brain. Lecanemab met the primary endpoint (CDR-SB: Clinical Dementia Rating-Sum of Boxes*) and all key secondary endpoints with highly statistically significant results. Eisai will discuss this data with regulatory authorities in the U.S., Japan and Europe with the aim to file for traditional approval in the US and for marketing authorization applications in Japan and Europe by the end of Eisai's FY2022, which ends March 31, 2023. Additionally, Eisai will present the Clarity AD study results on November 29, 2022, at the Clinical Trials on Alzheimer's Congress (CTAD), and publish the findings in a peer-reviewed medical journal.Lecanemab treatment met the primary endpoint and reduced clinical decline on the global cognitive and functional scale, CDR-SB, compared with placebo at 18 months by 27%, which represents a treatment difference in the score change of -0.45 (p=0.00005) in the analysis of Intent-to-treat (ITT) population. Starting as early as six months, across all time points, the treatment showed highly statistically significant changes in CDR-SB from baseline compared to placebo (all p-values are less than 0.01). All key secondary endpoints were also met with highly statistically significant results compared with placebo (pThe incidence of amyloid-related imaging abnormalities-edema/effusion (ARIA-E), an adverse event associated with anti-amyloid antibodies, was 12.5% in the lecanemab group and 1.7% in the placebo group. The incidence of symptomatic ARIA-E was 2.8% in the lecanemab group and 0.0% in the placebo group. The ARIA-H (ARIA cerebral microhemorrhages, cerebral macrohemorrhages, and superficial siderosis) rate was 17.0% in the lecanemab group and 8.7% in the placebo group. The incidence of symptomatic ARIA-H was 0.7% in the lecanemab group and 0.2% in the placebo group. There was no imbalance in isolated ARIA-H (i.e., ARIA-H in patients who did not also experience ARIA-E) between lecanemab (8.8%) and placebo (7.6%). The total incidence of ARIA (ARIA-E and/or ARIA-H) was 21.3% in the lecanemab group and 9.3% in the placebo group. Overall, lecanemab's ARIA incidence profile was within expectations. Clarity AD was a global confirmatory Phase 3 placebo-controlled, double-blind, parallel-group, randomized study in 1,795 people with early AD. The treatment group was administered a dosage of 10 mg/kg bi-weekly of lecanemab, with participants allocated in a 1:1 ratio to receive either placebo or lecanemab. The baseline characteristics of both placebo and lecanemab groups are similar and well balanced. Eligibility criteria allowed patients with a broad range of comorbidities/comedications: hypertension, diabetes, heart disease, obesity, renal disease and anti-coagulants, etc. Eisai's recruitment strategy for the Clarity AD clinical trial ensured greater inclusion of ethnic and racial populations in the U.S., resulting in approximately 25% of the total U.S. enrollment including Hispanic and African American persons living with early AD. Due to the inclusive eligibility criteria and the successful recruitment of diverse ethnic and racial populations in the U.S., Clarity AD's population is generally comparable to the country's Medicare population. "Since Eisai launched Aricept in the U.S. and Japan in the late 1990s and obtained its approval in over 100 countries, Eisai has provided the drug to people living with dementia while building empathy for them and their families through disease education efforts and community involvement. The positive result of the lecanemab, an anti-Abeta protofibril antibody, pivotal study after almost 25 years since Aricept's launch is an important milestone for Eisai in fulfilling our mission to meet the expectations of the Alzheimer's disease community. Alzheimer's disease not only presents a great challenge for patients and their families, but it also negatively impacts society, including decreased productivity, increased social costs and disease-related anxiety. We believe that helping to alleviate these burdens will positively impact society as a whole," said Haruo Naito, Chief Executive Officer at Eisai. "Additionally, the lecanemab Clarity AD study results prove the amyloid hypothesis, in which the abnormal accumulation of Aβ in the brain is one of the main causes of Alzheimer's disease, when targeted with a protofibril-binding therapy. Eisai believes these findings will create new horizons in the diagnosis and treatment of Alzheimer's disease as well as further activate innovation for new treatment options. The successful results of the Clarity AD clinical trial would not be possible without the truly inspiring dedication of the study's participants, their families and caregivers and the clinical investigators around the world. We thank all the people involved in the study for their invaluable contributions.""Today's announcement gives patients and their families hope that lecanemab, if approved, can potentially slow the progression of Alzheimer's disease, and provide a clinically meaningful impact on cognition and function," said Michel Vounatsos, Chief Executive Officer at Biogen. "Importantly, the study shows that removal of aggregated amyloid beta in the brain is associated with a slowing of disease in patients at the early stage of the disease. We want to thank the many patients who participated in this groundbreaking global study and want to acknowledge the clinical investigators who worked tirelessly to increase the enrollment of traditionally underrepresented populations. As pioneers in neuroscience, we believe defeating this disease will require multiple approaches and treatment options, and we look forward to continuing the discussion about the significance of these findings with the patient, scientific, and medical communities."In July 2022, the U.S. Food and Drug Administration (FDA) accepted Eisai's Biologics License Application (BLA) for lecanemab under the accelerated approval pathway and granted Priority Review. The Prescription Drugs User Fee Act action date (PDUFA) is set for January 6, 2023. The FDA has agreed that the results of Clarity AD can serve as the confirmatory study to verify the clinical benefit of lecanemab. In an effort to secure traditional FDA approval for lecanemab as soon as possible, Eisai submitted the BLA through the FDA's Accelerated Approval Pathway so that the agency could complete its review of all lecanemab data with the exception of the data from the confirmatory Clarity AD study.In March 2022, Eisai began submitting application data, with the exception of Clarity AD data, to Japan's Pharmaceuticals and Medical Devices Agency (PMDA) under the prior assessment consultation system with the aim of obtaining early approval for lecanemab so that people living with early AD may have access to the therapy as soon as possible.Eisai serves as the lead of lecanemab development and regulatory submissions globally with both Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority.*CDR-SB is a numeric scale used to quantify the various severity of symptoms of dementia. Based on interviews of people living with AD and family/caregivers, qualified healthcare professionals assess cognitive and functional performance in six areas: memory, orientation, judgment and problem solving, community affairs, home and hobbies, and personal care. The total score of the six areas is the score of CDR-SB, and CDR-SB is also used as an appropriate item for evaluating the effectiveness of therapeutic drugs targeting the early stages of AD. For more information, visit www.eisai.com/news/2022/news202271.html. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Eisai: Metoject Subcutaneous Injection Syringe (Methotrexate) Approved in Japan for Rheumatoid Arthritis JCN Newswire

Eisai: Metoject Subcutaneous Injection Syringe (Methotrexate) Approved in Japan for Rheumatoid Arthritis

September 26, 2022
TOKYO, Sep 26, 2022 - (JCN Newswire via SEAPRWire.com) - Eisai Co., Ltd. and nippon medac Co., Ltd., a subsidiary of medac Gesellschaft fur klinische Spezialpraparate mbH announced today that they have obtained manufacturing and marketing approval from the Japanese Ministry of Health, Labour and Welfare for the indication of the anti-rheumatic agent "Metoject Subcutaneous Injection 7.5mg syringe 0.15mL, 10mg syringe 0.20mL, 12.5mg syringe 0.25mL and 15mg syringe 0.30mL" (methotrexate, "MTX") for the treatment of rheumatoid arthritis. Metoject will be the first self-administrable MTX subcutaneous injection formulation for rheumatoid arthritis in Japan. Based on the license agreement signed by Eisai and medac GmbH in May 2019, nippon medac will hold the marketing authorization of Metoject, while Eisai will be responsible for product distribution of Metoject in Japan.The approval is based on the results of a Phase III clinical trial (MC-MTX.17/RA) conducted in Japan by nippon medac to compare the efficacy and safety of Metoject with that of oral MTX, which consisted of a double-blind phase and an extension phase. In the double-blind phase of this trial, 102 rheumatoid arthritis patients who had not been treated with MTX received either 7.5 mg/week of Metoject or 8 mg/week of oral MTX for 12 weeks in repeated doses. The primary endpoint of ACR20 response* at 12 weeks was 59.6% in the Metoject group versus 51.0% in the oral MTX group, indicating comparable efficacy. The adverse drug reaction incidence rates in this trial were 25.0% in the Metoject group and 34.0% in the oral MTX group. In the double-blind phase, the most common adverse drug reactions (incidence 5% and higher) were stomatitis (5.8%) in the Metoject group, and nausea (12.0%) and stomatitis (6.0%) in the oral MTX group.It is reported that there are approximately 700,000 - 800,000 rheumatoid arthritis patients in Japan. MTX is used as the first-line option for the treatment of rheumatic arthritis, but only the oral formulation is available in Japan. Eisai and nippon medac will provide a self-administrable subcutaneous injection as a new treatment option for rheumatoid arthritis patients in Japan as soon as possible, and will make further contributions to address the diversified needs of, and increase the benefits provided to, rheumatoid arthritis patients.*ACR20 is a criterion developed by the American College of Rheumatology that measures improvement in clinical symptoms of rheumatoid arthritis. It expresses the percentage of patients who demonstrated a 20% or greater improvement in tender and swollen joint counts and at least three of the following five disease activity variables: patient assessment of pain; patient assessment of global disease activity; physician assessment of global disease activity; patient assessment of physical function; and chronic response protein or erythrocyte sedimentation rate concentrations.For more information, visit www.eisai.com/news/2022/news202269.html. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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AEON Credit 1H2022 Revenue Up by 11.8% to HK$571.7 Million ACN Newswire

AEON Credit 1H2022 Revenue Up by 11.8% to HK$571.7 Million

September 26, 2022
HONG KONG, Sep 26, 2022 - (ACN Newswire via SEAPRWire.com) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) today announced its interim results for the six months ended 31st August 2022 ("1H2022" or the "reporting period"). During the reporting period, the Group's revenue was up by 11.8% year-on-year to HK$571.7 million and profit after tax increased by 2.6% to HK$176.8 million, with earnings per share rising to 42.21 HK cents (1H2021: 41.15 HK cents). In view of the Group's sound fundamentals and to share its fruitful results with shareholders, the Board has resolved to declare an interim dividend of 22.0 HK cents per share (1H2021: 22.0 HK cents per share), representing a dividend payout ratio of 52.1%.The Group took a number of timely initiatives during the reporting period to drive healthy growth in both sales and receivables and maintain a quality portfolio, as the market in Hong Kong was on a gradual recovery following an array of economic stimulus measures launched by the government. With an increased in the overall sales and receivables balance, the Group recorded an increase in interest income of 10.4% to HK$479.7 million 1H2022. The solid growth in revenue was also attributable to a 30.8%, or HK$14.0 million, increase in overall fees and commissions, which was driven by the continued increase in credit card sales throughout 1H2022 and the launch of the acquiring service for AEON Stores in the second half of the previous financial year. Among its various initiatives to drive business growth during the reporting period, the Group resumed mass promotion activities, and engaged celebrities for promotion as part of its brand building efforts. The Group also enhanced the reach and use cases of its existing products and services by running new promotions with a major payment solution provider in the market and revamping its physical branch network. As a result, the Group achieved a 24.2% increase in overall sales year-on-year, while the gross advance and receivable balance at 31st August 2022 recorded an increase of 12.8% when compared with the balance at 28th February 2022.Looking ahead, while the uncertainty of the Covid-19 pandemic ( the "pandemic"), the spread of global inflationary pressure and the adjustment to the Hong Kong base rate in response to the interest rate hike by the US Federal Reserve are expected to affect consumer sentiment to a certain extent in 2H2022, the easing of pandemic restrictions is anticipated to facilitate economic recovery. Presented with both challenges and opportunities, the Group will primarily focus on maintaining the momentum of sales and receivables growth, while also closely monitoring asset quality. On the marketing side, the Group will continue to launch mass promotion activities to capture any possible surge in consumer spending in the market. Moreover, the Group will further strengthen its customer relationship management and foster customer engagement through different channels. Besides, new products and digital services will be explored, and new branches will be opened in convenient locations to enable customers to experience its services.For the Mainland China businesses, the microfinance subsidiary in Shenzhen will continue to focus on seeking business opportunities in the Greater Bay Area to grow its receivables with sound asset quality. The Group will also make better use of recently acquired subsidiary as a business process centre to enhance the Group's operational effectiveness.Embracing sustainability, the Group believes that the improvement of its ESG performance is crucial to its long-term business development. The Group will continue to commit significant resources to digitalization to improve its internal operations to achieve greater sustainability and enhance its ability to respond both the continuously evolving market environment and climate change. Mr. Tomoharu Fukayama, Managing Director of AEON Credit, said, "We are pleased to have rolled out various timely initiatives in the first half of this financial year to capture the recovering consumer spending market, and thus achieved solid top-line growth. With a strong liquidity position and balance sheet, the Group is well prepared to move forward and capture new potential business opportunities to outperform and stay ahead of its peers in the face of a competitive market environment."About AEON Credit Service (Asia) Company Limited (Stock Code: 00900)AEON Credit Service (Asia) Company Limited, a subsidiary of AEON Financial Service Co., Ltd. (TSE: 8570) and a member of the AEON Group, was set up in 1987 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in 1995. The Group is principally engaged in the consumer finance business, which includes the issuance of credit cards and the provision of personal loan financing, card payment processing services, insurance agency and brokerage business in Hong Kong and microfinance business in Mainland China.For more information, please visit the company's website at www.aeon.com.hk. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Restricted Shares Will be Lifted on 22 September, and the Management and Investors of Arrail Group are “Hoarding”, Release High Growth Signals

September 22, 2022
HONG KONG, Sep 22, 2022 - (ACN Newswire via SEAPRWire.com) - The restricted shares of Arrail Group Limited ("Arrail Group" or the "Company", stock code: 06639.HK), a leading dental services group in China, will be officially lifted and listed for circulation on 22 September 2022. In this regard, the Company's management and investors clearly presented the idea of being "hoarding" and their current confidence.Arrail Group is a leading dental services group and have established a nationwide footprint in China, operating both Arrail Dental, a leading premium dental services brand, and Rytime Dental, a middle-end dental services brand. According to Frost & Sullivan Report, the Company is the largest dental service provider in China's premium private dental service market and the third largest dental service provider in China's entire private dental service market based in terms of total revenue in 2020.Institutional shareholders' confidence in long-term development is demonstrated by "not to reduce its shareholding"Based on the confidence in the industry prospect and the future development of Arrail Group, the major investors of the Company said that they would continue to hold shares. Meanwhile, as disclosed in the prospectus of the Company, approximately 31.55% of the shares held by Mr. Zou Qifang, the founder of the Company, and his management team will remain locked for 6 months until the end of March 2023.It is understood that prior to the public offering, Arrail Group has carried out several rounds of financing from January 2010 to January 2021, with the Pre-IPO Investors including KPCB China Fund, Qiming Venture Partners, OrbiMedAsia, Temasek, Goldman Sachs, Hillhouse Capital, etc. During the listing period, the Company also introduced five cornerstone investors, namely Abax, Harvest, Hudson Bay, OrbiMedAsia OrbiMed and Modern Dental, with subscribed amount of approximately HK$507 million of shares, accounting for approximately 74.66% of the offering shares as per the IPO Price with a lock-up period of 6 months. The "no reducing shareholding" idea of the management of Arrail Group and major investors will not only help stabilise the share price of the Company, but also promote the long-term stable development of the Company and enhance investors' confidence.The scarcity and uniqueness of national chain are recognised by the marketIt is worth mentioning that few institutions can achieve the nationwide coverage with the distinguishing regional characteristics of the dental service market. The Company is the only national chain dental institution listed on the market at present. Its business is distributed in four core regions domestically, namely North China, East China, South China and West China, and 15 cities. The scarcity and uniqueness of Arrail Group are gradually being recognised.Since entering the Hong Kong Stock Connect on 5 September, both the share price and liquidity have improved significantly. On 9 September, the trading volume reached approximately 7 million shares, with over HK$63 million. The share price has increased by nearly 100% since early September. The Company's business expansion prospects and development potential are promising.The solid fundamentals and outstanding performance also added confidence for "not to reduce its shareholding". As disclosed in the financial report, affected by the news and the improvement of comprehensive strength, for the financial year ended 31 March 2022, the total number of visits of Arrail Group reached 1.559 million, representing a year-on-year increase of 13.7% from 1.371 million in the financial year 2020/2021; The total revenue was RMB1.624 billion (the same below), representing a year-on-year increase of 7.16% as compared to the financial year 2020/2021; The adjusted net profit for the year amounted to RMB66 million, up 18.0% year on year, with strong profitability.The next step of the Company's development is also worth the market's expectation. In early July, Arrail Group announced a strategic cooperation with Wuxi Tongshan. The project was completed on 1 September. In addition, the two new hospitals and six clinics in this financial year were also basically completed. It is expected that 268 chairs will be added in this financial year, representing an increase of 20% as compared to the previous financial year. The management of the Company stated that the new chairs will lay a solid foundation for the long-term development of the Company in the future.In the long run, with the implementation of the centralised purchase policy, the market gradually returns to the rational cognition of the health care service sector. As the only listed national dental chain medical institution in the market, Arrail Group is undoubtedly the first one to enjoy the market bonus. In the future, Arrail Group will continue to improve its operational capabilities and service quality, and enhance its core competitive advantages. It is expected that the results and valuation of Arrail Group will be improved, thus promoting the further development of its dental services. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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HG Semiconductor Enters into Strategic Cooperation Framework Agreement with the Family Trust of GCL Technology Founder Mr. Zhu Gongshan ACN Newswire

HG Semiconductor Enters into Strategic Cooperation Framework Agreement with the Family Trust of GCL Technology Founder Mr. Zhu Gongshan

September 8, 2022
HONG KONG, Sep 8, 2022 - (ACN Newswire via SEAPRWire.com) - HG Semiconductor Limited ("HG Semiconductor", together with its subsidiaries, "the Group", Stock Code: 6908.HK) is pleased to announce that the Group entered into a strategic cooperation framework agreement (the "Strategic Cooperation Framework Agreement") on 7 September 2022 with Golden Concord Group Limited ("Golden Concord Group"), a company ultimately held under a discretionary trust (the "Investor Family Trust") with Founder, Chairman and Executive Director of GCL Technology Holdings Limited ("GCL", Stock Code: 3800.HK) Mr. Zhu Gongshan (the "Investor" or "Mr. Zhu") and his family members as beneficiaries. Pursuant to the Strategic Cooperation Framework Agreement, the Group and Golden Concord Group (collectively, the "Parties") intend to initiate close cooperation in application of gallium nitride ("GaN") power chips in the field of new energy, including (i) Golden Concord Group or its subsidiaries will be involved in equity of the Group or its subsidiaries to establish in-depth cooperation; (ii) the Parties will establish a domestic new energy joint venture (the "JV Company") to tap into application of GaN chips in the field of new energy, including but not limited to technologies and equipment on charging/exchanging batteries, energy storage technology and related equipment and distributed solar inverters; (iii) the Group will provide technical support to the JV Company and jointly develop application products based on silicon-based power chips and third-generation semiconductors; Golden Concord Group will assist HG Semiconductor and the JV Company to enter into the market of new energy industry supply chain based on its leading position and comprehensive layout in the new energy industry.Golden Concord Group Limited is ultimately held under the Investor Family Trust, while the Investor Family Trust is the shareholder of GCL Technology, GCL New Energy Holdings Limited (Stock Code: 451.HK), GCL System Integration Technology Co., Ltd. (Stock Code: 002506.SZ) and GCL Energy Technology Co., Ltd. (Stock Code: 002015.SZ). Earlier on, the Group had entered into an investment agreement with Mr. Zhu or his wholly-owned entity, pursuant to which the Group can conditionally allot and issue 60 million subscription shares ("Shares Subscription") and 60 million warrants ("Warrants Subscription"). Subsequent to the Shares and Warrants Subscription, this Strategic Cooperation Framework Agreement again fully demonstrates Mr. Zhu's confidence in the development of HG Semiconductor's third-generation semiconductor business, and it is believed that the collaboration can give a full play to the advantages of both parties in the industry, supply chain, talent, technology and other aspects, in order to achieve positive innovation, mutual benefits and a double-win outcome.The management of HG Semiconductor is delighted that the family trust of Mr. Zhu has become the Group's strategic alliance partner. This collaboration will further drive and strengthen the Group's capabilities of promoting the application of the third-generation semiconductor technology in the new energy sector, and enable HG Semiconductor to gradually grow its business by leveraging the rich experiences as well as the financial and industrial resources of Golden Concord Group, thereby assisting the Group to build up its talents, operations, technology, research and development. The Group will constantly pursue innovation, striving to form complementary industrial resources with Golden Concord Group while investing resources in the optimisation and development of GaN related products. The Group believes that the cooperation will further drive new collaborative initiatives with Mr. Zhu, setting new heights in the development of GaN business in the field of new energy. About HG Semiconductor LimitedHG Semiconductor Limited (6908.HK) is principally engaged in semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode ("LED") beads and a new generation of semiconductor gallium nitride ("GaN"). The Group is committed to accelerating its research and development and expansion in the application of GaN related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost.For more details, please visit www.hg-semiconductor.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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InvesTech Holdings Announces 2022 Interim Results ACN Newswire

InvesTech Holdings Announces 2022 Interim Results

September 1, 2022
HONG KONG, Aug 31, 2022 - (ACN Newswire via SEAPRWire.com) - InvesTech Holdings Limited ("InvesTech Holdings", together with its subsidiaries, the "Group"; stock code: 1087.HK), a leading integrated smart IT solutions provider in China, announces its unaudited consolidated results for the six months ended 30 June 2022 (the "Period"). During the Period, the Group formed strategic alliance with technology giants to jointly offer enterprise digital transformation solutions. These initiatives set to drive sustainable business growth and enhance the Group' core competence. During the Period, intensifying economic uncertainty dampened the business environment in the IT industry in general, meanwhile the delays in project schedules affected by the lockdown of cities in China attributed to a reduction of the Group's revenue to approximately RMB197.1 million (1H 2021: approximately RMB230.4 million). Despite this, thanks to the Group's effective cost control measures and an increase in the proportion of sales of smart office software solutions and related services with relatively higher gross profit margins, the gross profit increased by approximately 32.4% year-on-year to approximately RMB27.0 million (1H 2021: approximately RMB20.4 million). The gross profit margin for the Period was approximately 13.7%, representing a year-on-year leap of approximately 4.9 percentage points (1H 2021: approximately 8.8%). Mainly attributable to the increase in income tax expenses, a loss for the period of approximately RMB14.1 million was recorded (1H 2021: loss for the period of approximately RMB12.2 million).Business ReviewIT Infrastructure System Integration BusinessLeveraging its solid foundations in the industry and strong customer relationships, the Group continued to expedite the development of its traditional IT infrastructure system integration business during the Period. By deepening its business collaboration with technology giants, the Group continued to leverage its core competitiveness and provided advanced and customised IT infrastructure solutions to clients in segments including finance, manufacturing and retail.Smart Office Software Solutions BusinessWhile the Group's self-developed applications (apps) - namely MetaVisitor, MetaWorkspace and MetaMeeting - were launched on several platforms during the Period, the Group also redoubled its efforts to upgrade Virsical, its flagship smart office software solutions product. The Group strived to expand the customer base for its professional smart office solutions and property technology solutions, which provide professional tools such as intelligent building control systems and smart visitor management systems to clients in diversified sectors.Stepping up Efforts to Expand its Business in Hong KongAfter the Group winning a government contract for the provision of a smart library system for the Hong Kong government's Leisure and Cultural Services Department last year, it began to carry out preliminary work including the design of core library systems. The work performed during the first half of 2022 translated into the recognition of approximately RMB12.4 million of revenue during the Period. The Group expects that the project will provide a large and stable income stream as it is completed. In addition, the Group also strived to secure more contracts related to government and public sectors in Hong Kong during the Period, with a focus on smart city and smart IT-related projects, aspiring to enhance its revenue. OutlookLooking ahead, the Group will maintain the stable development of its IT infrastructure system integration business, with a focus on facilitating the development of its smart office software business, which will serve as its revenue growth engine. To acquire new clients and offer cutting-edge solutions, the Group will continue to form strategic alliances with technology giants. In addition to expanding its customer base in the PRC, the Group will also continue its strategic tendering for both public and private projects in Hong Kong, striving to increase its market share. With the aim of expanding its business in overseas markets, the Group intends to explore its business opportunities in Southeast Asia and countries along the route of Belt and Road Initiative to accelerate its business development and capture market opportunities.In recent years, technology giants have made immense investments to expedite the development of enterprise metaverse, leading to breakthroughs in this new technology. Enterprise metaverse solutions have become one of the latest trends in the IT industry, considering that many employees have switched to working from home due to recurrent COVID-19 outbreaks. Leveraging InvesTech's advanced digital-twin technology and solid experience in hybrid smart office solutions, the Group aims to modify and enhance its software products through built-in compatibility with the latest technology. The Group will also join hands with technology giants to offer highly realistic, virtual smart office solutions to customers, with the ultimate goal of facilitating the development of enterprise metaverse.Mr. Ringo CHAN, Chairman of InvesTech Holdings, said: "Taking the rising global demand of IT infrastructure system integration and smart office software solutions into consideration, we are optimistic about our prospects. To capture market opportunities and enhance our leading position in integrated smart IT solutions industry, it is essential to strengthen our core competence to maintain a sustainable development. Therefore, we have continuously been increasing our investment and expand the professional team at our research and development ("R&D") centre in the PRC city of Xi'an in order to optimise our R&D capabilities. Looking ahead, we will explore every opportunity to inject new impetus to our business development and maximize our income, in hopes of bringing greater returns to shareholders and investors."About InvesTech Holdings LimitedInvesTech Holdings Limited (Stock code: 1087.HK) was listed on the main board of Hong Kong Stock Exchange in 2010. As a leading integrated smart IT solutions provider with more than 30 years of experience in IT industry, the Group is principally engaged in IT infrastructure system integration and smart office software solutions businesses. The Group has strong presence in China, with more than 10 offices nationwide with a research and development centre in Xi'an. Website: http://www.investech-holdings.com/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Universal Medical (2666.HK) Announces 2022 Interim Results ACN Newswire

Universal Medical (2666.HK) Announces 2022 Interim Results

August 31, 2022
HONG KONG, Aug 31, 2022 - (ACN Newswire via SEAPRWire.com) - The board of directors of Genertec Universal Medical Group Co Ltd (the "Company" or "Universal Medical"; Stock code: 2666.HK) is pleased to announce the interim results of the Company and its subsidiaries (together, the "Group") for the six months ended 30 June 2022. Facing with various unexpected factors emerged during the first half of 2022, while making unwavering efforts to lead the subordinate medical institutions in its proactive commitment to fighting against the pandemic, the Group adhered to its established business strategies by continuing to move forward in the field of medical and healthcare, and steadily promoted its business and improved its overall operating performance.In the first half of 2022, the Group recorded a revenue of RMB5,712.3 million, representing an increase of 14.1% as compared to the corresponding period of the previous year; recorded a net profit of RMB1,176.4 million, representing an increase of 4.5% as compared to the corresponding period of the previous year; recorded a net profit attributable to owners of the parent of RMB1,089.4 million, representing an increase of 3.8% as compared to the corresponding period of the previous year; recorded return on total assets (ROA) of 3.20%, and return on equity (ROE) attributable to owners of the parent of 16.51%. The indicators of income maintained a steady performance and the asset quality was generally safe and controllable.The Profit of Hospital Group Increased by 13.7% While Accommodating the Needs for Pandemic ControlHospital group is the essential resources of building a healthcare conglomerate. Having been actively participating in integration and takeover of medical institutions of SOEs since 2017, the Group continued to expand its hospital group business, and orderly advanced its post-investment management to better accommodate the needs for pandemic control of SOE-owned hospitals. The Group also continuously enhanced the three core capabilities of "discipline", "operation" and "service", with an aim to build overall advantages of the hospital group in terms of safety, effectiveness, accessibility, and humanities as a way to promote high-quality development of hospitals of SOEs. Moreover, relying on the development foundation of the hospital group, the Group expanded business layout in various fields including medical service, life cycle management of medical equipment, medical testing, internet-based healthcare services, health and wellness and insurance, and actively expanded external customers while efficiently serving the Group's member hospitals to gradually lay a foundation for development in scale.With the implementation of group management and control of hospitals, the core capabilities of disciplines, operations and services have been gradually improved to lay the groundwork for sustainable growth trends in the medical business. In the first half of 2022, facing with the frequent outbreaks and pandemic rebound in certain cities, its medical institutions made proactive response to the relevant requirements of the government regarding pandemic prevention and control by undertaking a great number of nucleic acid testing and vaccination tasks. Under the temporary operation pressure of staff shortage and increasing costs for pandemic prevention and control, the Group maintained overall stable profitability in the first half of 2022 through measures such as increasing volunteer medical consultation and featured services to boost business volume and reinforce refined operation.In terms of consolidated revenue, in the first half of 2022, the hospital group business (excluding hospital investment platforms) recorded revenue of RMB2,721.1 million during the consolidation period, representing an increase of 28.4% as compared to the corresponding period of the previous year, mainly due to the consolidation of additional medical institutions during the period, and recorded profit for the period of RMB112.6 million, representing an increase of 13.7% as compared to the corresponding period of the previous year. The gross profit margin from operations was 12.1%, and net profit margin was 4.1%.In terms of operations, in the first half of 2022, the Group consolidated the accounts of six additional medical institutions with a capacity of 2,507 beds in total; the total number of medical treatments in the 51 consolidated medical institutions of the Group was approximately 5,446,000, representing an increase of approximately 52.2% as compared to the corresponding period of the previous year. The number of outpatient and emergency visits amounted to approximately 4,951,000, representing an increase of approximately 57.1% as compared to the corresponding period of 2021, which was mainly attributable to the significant increase in the outpatient visits for nucleic acid test during the first half of 2022. Without taking into account of the impact of nucleic acid visits, the number of outpatient and emergency visits still outperformed that of the corresponding period of the previous year by approximately 6%. The number of inpatient visits based on discharges amounted to approximately 160,000, remaining basically in line with that of the corresponding period of 2021, which was mainly due to the frequent outbreaks of covid-19 pandemic across the country during the first half of 2022. Meanwhile, with the continuous expansion of the medical examination business operated by its medical institutions, the number of visits for medical examination reached approximately 495,000 in the first half of 2022, representing an increase of approximately 15.9% as compared to the corresponding period of 2021. The revenue of hospital operation of the 51 consolidated medical institutions for the first half of 2022 reached RMB2,694.9 million in total, representing an increase of approximately 8.8% as compared to the corresponding period of the previous year, and the overall income per bed of the consolidated medical institutions was approximately RMB420,000 on an annualised basis.Following the integration and takeover of medical institutions of SOEs since 2017, the Group continued to empower the development of the hospitals and took active and effective measures in response to external factors such as the pandemic and reforms. In the future, in order to serve the national healthcare initiative and in the trend of high-quality development of the medical industry, the Group will give full play to the competition advantages of central state-owned enterprises in running medical care by reinforcing group management and control and upgrading professional operation, further improving the operating efficiency of medical institutions.Meanwhile, by fostering hospital group, the Group will also further build replicable advantages in terms of hospital operation management, life cycle management of medical equipment, supply chain management, infrastructure management and digital services, expand the market presence in addition to the health conglomerate and cultivate the new service mode featured with the integration of industry and finance, so as to promote quality and efficiency enhancement for external hospital customers and create new growth drivers for the Company.The Interest Income of Financial Business Increased by 5.7% under the Efforts to Overcome the Impact of Ongoing PandemicIn the first half of 2022, the Group strived to overcome the impact of ongoing pandemic. With risk control as a top priority, the Group were committed to ensuring quality project development for its customers, with an aim to ensure safe and healthy development of the finance business. By keeping abreast of the market changes, the Group strived to control financing costs with a flexible approach to meet investment capital requirements. In the first half of 2022, the finance and advisory business of the Group recorded a revenue of RMB2,987.8 million in total, representing an increase of 3.4% as compared to the corresponding period of the previous year, of which the interest income amounted to RMB2,391.1 million, representing an increase of 5.7% as compared to the corresponding period of the previous year. All business indicators continued to maintain a good level. The average yield of interest-earning assets was 7.46% and the average cost rate of interest-bearing liabilities was 3.71%, while the net interest margin was 3.75% and the net interest spread was 4.16%.While its finance business continued to expand steadily, the Group continued to optimize the dynamic management of pre-rental, rental, and post-rental process, and enhanced accountability to ensure its asset quality remaining at an industry-leading level. As of 30 June 2022, its net interest-earning assets reached RMB65,804.8 million, representing an increase of 7.7% as compared to the end of 2021; the non-performing asset ratio was 0.98%; the overdue ratio (30 days) was 0.82%, and the provision coverage ratio was 242.96%.While keeping a controllable risk profile, the Group will continue to facilitate steady development of the finance leasing business in the fields of public hospitals and urban public utility. Leveraging on the core businesses of the central state-owned group and in an active response to the national policies, the Group will continue to foster and expand innovative businesses. The Group will explore a development model featured with the integration of finance business and medical care industry so as to lay a solid foundation for the high-quality development of a central state-owned and listed enterprise and achieve a leapfrog growth in the operating results.About Genertec Universal Medical Group Co LtdGenertec Universal Medical Group Co., Ltd. ("Universal Medical"; 2666.HK) is a publicly listed state-owned enterprise committed to China's healthcare industry. China General Technology (Group) Holding Co Ltd., one of the backbone SOEs directly supervised by the central government is the controlling shareholder of the Company. Universal Medical focuses on the fast-developing healthcare industry in China, with medical services as the core and financial business as the foundation. The Company harvests modern management concepts, professionals, quality medical resources with solid financial strength, and an inclusive corporate culture. Altogether it strives to build a reliable healthcare conglomerate and develop a healthcare ecosystem that all can mutually share and benefit. The Company owns 63 medical institutions, distributed in 14 provinces and municipalities such as Shaanxi, Shanxi, Sichuan, Liaoning, Anhui, Hebei, Beijing, and Shanghai, including 5 Grade III Class A hospitals and 29 Grade II hospitals, with a total of more than 16,000 beds. In the future, Universal Medical will continue to grasp opportunities posed by China's healthcare sector, actively respond to the "Health China" program and make contributions to China's public health industry. Please visit https://en.umcare.cn/.This press release is released by PEANUT MEDIA LIMITED on behalf of Genertec Universal Medical Group Company Limited.For further information, please contact:PEANUT MEDIA LIMITEDLu Jing / Jing GaoDirect Line: +86-755-61619798 +8210Email: hswh@czgmcn.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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HG Semiconductor Announces 2022 Interim Results ACN Newswire

HG Semiconductor Announces 2022 Interim Results

August 31, 2022
HONG KONG, Aug 30, 2022 - (ACN Newswire via SEAPRWire.com) - HG Semiconductor Limited ("HG Semiconductor", together with its subsidiaries, "the Group"; stock code: 6908.HK) is pleased to announce its unaudited consolidated results for the six months ended 30 June 2022 (the "first half of 2022" or the "Period"). Business ReviewDuring the Period, while developing its existing LED beads, the Group continued to expand its business presence in the third-generation semiconductor industry chain. In the first half of 2022, the economic situation in China was challenging due to the pandemic. Supply chains and manufacturing industry were hard hit by various pandemic precautions and control measures, including mandatory lockdowns. The Group's business was inevitably affected. Revenue decreased by approximately 42.4% to approximately RMB43.4 million during the Period (first half of 2021: approximately RMB75.3 million). The Group recorded a loss of approximately RMB51.5 million for the Period (first half of 2021: loss of approximately RMB41.2 million), mainly attributable to the decrease in revenue under the poor market environment with suppressed demand and delayed procurement plans from the Group's customers in China. Loss per share for the Period was approximately RMB9.14 cents (first half of 2021: loss per share of approximately RMB9.70 cents).The management of the Group revealed that since its gradual strategic transformation, the Group remained committed to accelerating its research and development ("R&D") efforts to rapidly expand into the third-generation semiconductor design and production markets, and to providing integrated solutions that offer higher efficiency and keener competitiveness in terms of system costs. The Group is determined to evolve as an integrated device manufacturing ("IDM") enterprise covering full-chain operation including R&D, manufacturing, packaging, testing and sales. Because of the extensive use of GaN in the fast-charging segment, the technology has steadily rolled out to electric vehicles, wireless charging, 5G infrastructure and other areas, pointing to great market potential in the future. The Group will continue to strengthen its business presence along the GaN industry chain, promote the rapid development of various businesses, and speed up GaN production capacity and swiftly move to a period of yielding returns on investment.Active Development of the New-Energy Vehicle and Fast-charging Pile Segment; Accelerated Development of the GaN BusinessDuring the Period, the Group strategically invested in multiple leading third-generation semiconductor enterprises in China and overseas, and actively entered into strategic and framework cooperation agreements, with the aim of leveraging its existing platform and resource advantages and to speed up R&D and the technological applications of GaN. Following the acquisition of GSR GO Holding Corporation (which is primarily engaged in R&D of fast-charging solutions for battery system) and its subsidiaries ("GSR GO Group") the previous year, the Group also focused on high-voltage new energy vehicles by investing in VisIC Technologies Ltd ("VisIC"), an Israel-based developer of GaN-related products, and also focused on consumer products by investing in GaN Systems Inc. ("GaN Systems"), a Canadian GaN technology leader. In the first half of 2022, the Group continued to seek cooperation with domestic and overseas enterprises in the GaN segment, and to develop GaN products alongside related sales and marketing.In March 2022, the Group entered into a strategic cooperation agreement with Cogobuy Group (stock code: 400.HK), a leading enterprise service platform in the integrated circuit industry. The aim of this cooperation includes helping the Group to sell its own chips in China, and to engage the two parties into a long-term strategic cooperation arrangement involving chip application and development. In addition, the Group entered into a strategic cooperation agreement with China Titans Energy Technology Group Co., Limited (stock code: 2188.HK) in May 2022. The two parties will jointly engage in R&D of next-generation fast-charging stations using third-generation semiconductor technology developed by the Group in the next three years, develop fast-charging pile services in Hong Kong, and jointly launch a fast-charging system solution. The Group also entered into a non-legally binding memorandum of understanding with GUH Holdings Berhad (stock code: 3247.KL). Through this cooperation, the Group will expand its sales of fast-charging batteries and GaN components to Malaysia and Southeast Asia with a view to increasing its sources of income.Actively Promoting GaN Site Testing and Positively Contributing to "Carbon Peak" and "Carbon Neutrality"The Group is committed to implementing a strategic transformation by actively developing its third-generation semiconductor business and has established a semiconductor production factory covering more than 7,000 square metres in the Xuzhou Economic and Technological Development Zone in Jiangsu Province, China. At the same time, the Group also owns an R&D centre in Shenzhen that enhances the design and production of materials and components. Alongside its entry into the third-generation semiconductor business last year, the Group is continuing to strengthen its R&D capabilities. During the Period, the Group has applied for the registration of five invention patents, one utility model and one appearance patent. All of the above patent applications have been accepted.Xuzhou GSR Semiconductor Company Ltd., a wholly-owned subsidiary of the Group, entered an important milestone during the Period by conducting the first publicised industry field trial of GaN with GaN systems in the power infrastructure of an internet data centre ("IDC"). The test results showed that the total energy consumption of IDCs could be reduced by 10%. Compared to traditional silicon-based power supplies, this is expected to yield power savings of up to 20%. This energy-saving result potentially increases the profit margins of IDCs, reduces operating costs and lowers energy consumption, supporting a sustainable future as the Group hopes to reduce the carbon footprints of IDCs. As part of the overall drive to achieve a green environment, the use of GaN power transistors for more energy-efficient power supply units and power modules offers a solid technical foundation for the high-quality, green development of IDCs, which also aligns with China's goal of "carbon neutrality".Focusing on R&D; World-class R&D Standards and the Management TeamWhile strengthening its R&D capabilities, the Group has continued to recruit cutting-edge talent and management expertise from the semiconductor industry to provide valuable guidance to its third-generation semiconductor business, and for strategic investment and development. During the Period, the Group's Global Strategic Advisory Committee was formally established. Members of the committee have extensive experience of the GaN semiconductor industry, as well as of strategic investment and development, to provide effective strategies and tactical advice to the Group. Furthermore, the Group engaged a number of experts in the semiconductor sector to manage its Xuzhou Factory and scientific research projects, giving strong technical support to its semiconductor product operations. Core experts include Dr. Chen Zhen, who is in the GaN semiconductor business, and Dr. Thomas Hu, in device design and technical manufacturing of GaN high-electron mobility transistors (HEMT), alongside Mr. Lu Ruilin and Mr. Min Junhui, who each have extensive experience in the semiconductor industry and of wafer fabrication technology and management. These experts bring years of experience in the fields of third-generation semiconductor production and management, mergers and acquisitions, investment, fund management and business administration, and are poised to lead the Group into a bright future.OutlookThe year 2022 has represented a crucial phase of industrial upgrading and the implementation of China's "dual- carbon" policy, with the semiconductor industry thus becoming a focus of attention. The Third-Generation Semiconductor Industry Development Report, issued by the China Advanced Semiconductor Industry Innovation Alliance, predicts that the market for third-generation semiconductor electronic devices in China will be worth nearly RMB20 billion in 2024, with a compound annual growth rate (CAGR) exceeding 40% in the next five years. Consulting firm Grand View Research predicts that the global GaN semiconductor device market will reach US$5.85 billion in 2027, with a CAGR of 20% from 2020 to 2027, as third-generation semiconductors boasting high efficiency and low power consumption become hot items. GaN, as a third-generation semiconductor material, has higher bandgap, and is the material with theoretically the highest enhancement of electro-optical and photoelectric conversion efficiency in theory.At present, third-generation semiconductor devices are moving rapidly into applications in new-energy vehicles, photovoltaic inverters, 5G base stations, power delivery and fast-charging, among other GaN devices are mainly used in 5G base stations. Thanks to the support of the "14th Five-Year Plan", led by the central government, the Group will further develop and explore third-generation semiconductor products, with a particular focus on GaN, and is committed to becoming an IDM enterprise specialising in third-generation semiconductors. Looking ahead, as the Group continues to expand its market presence in GaN, quality and efficiency improvements at related businesses along the industry chain will take place. The future of GaN business should be more than just promising. The Group will continue to promote the construction and commissioning of production lines at its Xuzhou Factory, which is currently undergoing renovation, and for which machinery is being purchased, with production expected to commence by early 2024. The Group will also strengthen its existing business and its R&D capabilities, and in the future, it will continue to cooperate with leading enterprises and attract more semiconductor industry talent to further accelerate R&D and expand the applications of GAN-related products.The management of the Group believes that the increasing popularity of electric vehicles in Mainland China and Hong Kong will provide a promising future for the development and commercialisation of the next generation charging piles in both jurisdictions. The Group will explore every opportunity to establish a strong foothold in the fast-charging battery solution business in both Mainland China and Hong Kong, aims to inject new life into its business development, and bring long-term returns to its shareholders, while at the same time pressing ahead with R&D and the manufacture of GaN-related products, aiming to be the industry leader in supplying third-generation GaN semiconductors to the Greater China market.About HG Semiconductor LimitedHG Semiconductor Limited (6908.HK) is principally engaged in semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode ("LED") beads, new generation of semiconductor gallium nitride ("GaN") chips, GaN components and related application products, as well as fast charging products. Leveraging its industry expertise in LED manufacturing, the Group is dedicated to accelerating its research and development and expansion in the application of GaN related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost. For more details, please visit www.hg-semiconductor.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Inkeverse 2022 Interim Results Announcement ACN Newswire

Inkeverse 2022 Interim Results Announcement

August 29, 2022
HONG KONG, Aug 29, 2022 - (ACN Newswire via SEAPRWire.com) - Inkeverse Group Limited ("Inkeverse" or the "Group"; stock code: 3700.HK) has announced its interim results for the six months ended 30 June 2022 (the "Reporting Period").In the first half of 2022, the Group continued to intensify its expansion in the interactive entertainment and social networking sector while enriching its business scenarios to boost operational efficiency. Through its strategy of profiting from a diversified matrix, the Group realized total revenue of RMB4.0 billion. Supported by stable revenue, Excluding the impact of share-based non-cash compensation expenses and goodwill impairment losses, the Group recorded an adjusted net profit of RMB402 million, a year-on-year increase of 150.8%. The Group's gross profit increased by 22.8% to approximately RMB17.3 billion, and the gross profit margin also increased to 42.6% from 34.9% in the same period last year, primarily due to an increase in the proportion of revenue from products under revenue-sharing businesses with high gross profit and the optimization of the revenue-sharing structure.In particular, revenue from social networking products accounted for 69.6% of total revenue. Revenue from live streaming products and dating products accounted for 22.2% and 5.5% of total revenue respectively. The encouraging performance of these products demonstrated the effectiveness of the Group's development strategies, which will help drive future growth.Mr. Feng Yousheng, Chairman and Chief Executive Officer of the Group, said, "In the first half of 2022, although affected by the macroeconomic environment and short-term epidemic resurgence, we continued to refine our technologies through innovation and maintained stable and sound cash flow which provided strong support for further business expansion. Entering the new era of Web 3.0, we have drawn on our extensive operating experience and social network to continuously acquire new technologies. In June 2022, we upgraded our brand, changing its name to Inkeverse Group Limited, and announcing our entry into the metaverse market. We are poised to seize the new growth opportunities presented by the times and the industry, and strive to bring better returns to our shareholders."Business ReviewContinuous development in live streamingLooking at the development of live streaming thus far, it is no longer a tool in a single scenario, but a strong pillar of support facilitating the growth of other business sectors. The new metaverse era has driven the development of virtual reality and other advanced technologies. As the Group's most mature product, "Inke" APP has innovated the traditional live streaming model with new technology. In May 2022, the Group launched "Panoramic Karaoke", an immersive KTV function which integrates a 3D space with virtual images, creating a variety of new live streaming scenarios and continuing to empower more business segments to realize higher business value. Refined social networking operationThe Group continued to refine the management of its existing social networking products and polished its business model, and also actively explored more diversified scenarios to keep abreast of new market trends. With social networking at the core, the Group has built a diversified product portfolio with multiple scenarios for people of different social circles, ages, geographical backgrounds, and interests, laying a solid foundation for the Group's product development with the continuous launch of new and iterative products. In addition, the Group has been actively exploring the new ecology of metaverse social networking. Its diversified models have also helped improve the profitability of the social networking sector.Increased dating match efficiencyThe Group maintained its market acumen and developed an innovative matching and dating model. By continuously optimizing the user matching strategy, the rapid penetration of the "Cloud Matching" model has completely improved the issue of "unmatched dating information". The Group has established its position as a leader in the online dating industry with its professional and extensive product operations and user services. In addition to providing professional relationship guidance, "Matchmakers," has created tens of thousands of jobs in the markets of lower-tier cities and facilitated more than 25 million dating matches. In May 2022, the Group launched "Love Planet" for lovers to create a new ecology for romantic social networking. By reaching male and female users of different ages in different regions, the satisfaction and influence of our brand have been furthered enhanced.Rapid growth of middle platform valueWith the diversification of business development, the value of the Group's middle platform has grown at an accelerated pace. In addition to stepping up investment in the metaverse, Web 3.0 and other cutting edge technologies, the Group constructed an efficient and intelligent data input system for the overseas market, upgraded the overseas multi-cloud structure and applied HTTP 3 and other technologies to improve service access quality in major countries and regions around the world, providing strong support to the overseas business expansion and development of the metaverse ecology. Prospects Looking ahead, the Group will focus on pan-entertainment development of overseas markets. With interactive entertainment and social networking sectors at the core, the Group will promote and replicate its operating experiences in different countries and regions, actively explore local demand and achieve breakthroughs in more markets around the world. At the same time, the Group will seize diversified development opportunities, continue to enrich and upgrade the metaverse elements in its products, quickly enter the emerging Web 3.0 sector and try to integrate frontier elements with social networking experiences to maintain profits and achieve quality growth. In addition, the Group will continue to closely monitor upstream and downstream industrial chains, take business synergies into consideration, explore business areas in line with its existing operations, expand and analyse new growth opportunities globally and create room for multi-dimensional development.About Inkeverse Group Limited (stock code: 3700.HK)Inkeverse (3700.HK) is a leading interactive social platform in China. In May 2015, the core product Inke APP was launched, creating the trend of domestic mobile live streaming broadcasting. Inke was listed in Hong Kong in July 2018, making it the first entertainment livestreaming enterprise on the Hong Kong Stock Exchange. Inke continues to deepen its efforts in the field of audio and video streaming. After its listing, Inke is focusing on the strategy of "matrix products" for the development layout of the Group. Based on the mature industrial mid-stage system, aiming at the needs of many vertical markets and individuals, it has successively created a number of phenomenon products such as the Jimu APP, Duiyuan APP and Super Like APP, and has rolled out a rich matrix of social products. Its business covers live broadcasting, dating and social networking. After undergoing multiple online and offline scenarios, and establishing a presence in overseas markets, it has transformed from a single product line into a matrix of products to drive performance growth. Reflecting this shift, in 2022, Inke changed its name to Inkeverse, aiming to create a multidimensional social matrix combining reality and virtual reality based on a new technology model.Company Website: https://www.inkeverse.com/index.htmlPress ContactsStrategic Financial Relations LimitedVicky Lee Tel: (852) 2864 4834 E-mail: vicky.lee@sprg.com.hkYan Li Tel: (852) 2864 4320 E-mail: yan.li@sprg.com.hkDaphne Duan Tel: (852) 2864 4833 E-mail: daphne.duan@sprg.com.hk Website: www.sprg.com.hk Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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天宝集团 (1979.HK) 公布2022年中期业绩，中期收益稍微下跌9.6%至约30.0亿港元，工业电源业务分部展现韧性，上半年收益增幅达8.4%

August 27, 2022
EQS 新闻 via SEAPRWire.com / 2022-08-26 / 19:35 UTC+8 【请即时发布】 2022年8月26日 TEN PAO GROUP HOLDINGS LIMITED 天宝集团控股有限公司 （股份代号：1979.HK） 公布2022年中期业绩 中期收益稍微下跌9.6%至约30.0亿港元 工业电源业务分部展现韧性 上半年收益增幅达8.4% 期内加快新能源业务发展步伐 开拓未来盈利增长点 2022年中期财务摘要 收益约为30.0亿港元，同比略减9.6% 工业电源分部收益录得约14.1亿港元，同比增幅达8.4%，反映业务抗风险能力 期内毛利约为4.5亿港元，毛利率同比微跌2.1百分点。有赖成本控制措施奏效，舒缓了近期市场环境因素带来的影响 本公司拥有人应占溢利较去年同期减少30.1%约达1.3亿港元 建议每股派付中期股息2.8港仙 （2022年8月 26 日 - 香港 ) 天宝集团控股有限公司 （「天寳」或「本公司」，连同其附属公司统称「本集团」；股份代号：1979.HK)，宣布本集团截至2022年6月30日止六个月(「期内」) 之经审核合并业绩。 二零二二年上半年，全球疫情起伏、通胀、地缘政治等不定诸多不利因素，增加营商的难度。天宝采取积极应对措施，将市场不景气所带来的影响降至最低，然而，新一波新冠疫情及俄乌冲突，无可避免地为本集团的客户以及供货商带来了影响，故此截至二零二二年六月三十日为止的六个月，收益下降9.6%至约30.0亿港元。本期间除税前溢利约为1.6亿港元，本公司拥有人应占溢利较二零二一年同期下降30.1%至1.3亿港元。本期间每股基本盈利由二零二一年同期19港仙下降至13港仙。 为回馈本公司股东的长期支持，本公司董事会已决定就截至二零二二年六月三十日止六个月派发中期股息每股普通股2.8港仙（二零二一年：每股普通股5.7港仙）。 进军新能源汽车充电业务，逐步与国际品牌接轨，产品瞄准商用及民用市场 本集团其中一个重点发展方向为新能源产业。在全球层面，市场对新能源汽车储能产品需求殷切，未来增长空间巨大；在内地层面，受免车辆购置税及补贴优惠等政策推动，新能源汽车渗透率持续增加，行业处于高速发展的风口，社会对充电桩及各种电源零部件的需求不断提升，本集团继续从中受惠。本集团研发之新能源汽车充电桩核心组件（30KW充电模块）已经获得主要充电设备制造商之认可，订单量可观。目前，这一产品已于四川达州基地投入量产，且产能正在不断提升。 除充电模块外，本集团在各充电、储能技术的消费应用上尤其重视，投放大量资源开拓这一市场。集团近年抢先一步成为首批设计及生产新能源汽车手提充电枪及便携储能箱的企业之一。本集团自研的新能源汽车手提充电枪及便携储能箱产品已获得国际能源巨擘蚬壳(Shell)认可，以其商标合作开拓北美市场，产品已经登陆美国大型网站销售，销量正逐步攀升。 在汽车电子领域方面，本集团与一家领先的美国汽车电源产品知名公司共同开发了汽车电池智能充电器、应急电源及锂电池包等一系列产品，全部于美国及欧洲各大网站销售。此外，本集团与另一家国际知名品牌合作推出针对户外使用之大容量便携储能箱。现今年轻人热衷各种户外活动，对于便携储能设备的需求日益增加。本集团相信这一新系列产品将成为业绩增长动力。 灵活管理奠定更加抗风险能力，二季度业绩回稳 回顾上半年，行业受到多方面压力，原材料供应及价格波动。本集团客户的经营节奏也受到不利因素影响，下调了订单量。集团透过调节生产计划、适时批量采购、多地灵活配置原材料等方式去巩固供应链管理。加上本集团多年来与客户保持良好沟通，提升订单可预见性，使集团第一季度业绩即使迎来较大的冲击，第二季度业绩也能够适时回稳，并瞄准复苏的势头。 本集团积极推动智能化生产升级，进一步完善已有的全球化生产布局。目前，本集团于广东惠州、四川达州、匈牙利及越南均设有生产基地。集团于广东惠州增建的天宝智能制造工业园区已进入生产线安装阶段，集团将密切跟随市场环境策划投产时间表，适时提供更多产能。本集团另正透过产能调配、供应链计划及智能升级等方案，为客户提供稳定的服务及灵活的关税安排，进而减少本集团单一地域的潜在风险。 展望 展望二零二二年下半年，鉴于全球局势仍然复杂及充满不确定性，总体营商环境挑战重重。本集团将谨慎地运用资源，以审慎和灵活的管理模式继续稳固传统业务，保持稳中有增之趋势。另一方面本集团秉持继往开来的精神，在营运生产及研发创新方面保持活力，进军新能源业务，开启一大盈利增长点。未来，本集团将继续抓紧机遇，在汽车电源研发及生产、电子制造解决方案、数字化生产改革及新客户扩展等方面加快步伐，力求将业务发展得更广更深。 天宝集团控股有限公司管理层表示：「期内，中国国内及海外环境可谓瞬息万变。天宝管理团队采取积极应对措施，持续开拓新能源产品线，拓展国际多元客户布局，优化全球产能规划及提升生产基地自动化效益，同时稳固战略库存，尽力减低原材料缺货及通涨带来的营运压力，使生产及出货更具弹性，推动本集团在艰巨环境下砥砺前进。」 管理层续继而表示：「新能源汽车过去几年的发展锐不可挡，市场预计今年下半年将延续高速增长，本集团锐意将新能源业务发展成为驱动集团前进的增长点，现正积极向研发及市场开拓两方面投放更多资源，抢占新能源汽车充电配套之市场份额。本集团目前正计划增加40KW充电模块之产线，同时积极研发更高功率的新能源汽车充电装置、汽车电子等高端组件和产品，有望为市场带来更省时、节能、安全及具成本优势的充电设备。另一方面，集团将在现有网上销售的基础上，布局北美线下销售网络，透过与油站及大型家电零售商合作，进军实体消费领域，将新能源汽车手提充电枪及便携储能箱带给更多消费者。集团冀透过与更多国际品牌合作，逐步开拓消费端市场，提升品牌形象，为未来在新能源产业的全面发展奠下基础。」 「就国际化产能分部方面，除了一直以来所倚重的广东惠州厂房外，集团于四川达州、匈牙利、越南均设有厂房，未来不排除于其他地区布局生产基地。产能国际化有助集团向不同地区的终端客户提供更多生产基地及更优质的客制化服务，加强供货商网络，提升原材料采购能力及强化供应链管理，为客户提供更有保障的一站式制造解决方案，同时亦有利集团进一步拓展国际市场。另一方面，为进一步提高现有业务的生产效率，本集团透过专责智能技术改造部门，持续高效推进智能及数字化改革，计划伸延至其他生产基地，以持续减少劳动成本，使季度人员流动对本集团生产过程中带来的成本压力降至最低，同时提高产质量素的可控性。在全球受到不确定因素笼罩的情况下，上述改革有助集团保持竞争优势。」 管理层继而补充：「于二零二二年七月二十七日，本集团获公司主席兼行政总裁及控股股东洪光椅先生通知，洪先生及其联系人已按本公司于二零二二年七月十五日所公布的有关截至二零二一年十二月三十一日止年度末期股息的以股代息计划，选择以新股代替现金方式收取末期股息。按以股代息计划每股新股的股价1.234港元计算，洪先生及其联系人将增持约2,975万新股，是次洪先生透过以股代息增持本公司股份，也反映其对本公司的前景有充分信心。天宝集团定必付诸最大的努力，持续深耕智能电源市场，稳步发展，为股东创造更佳回报。」 – 完 – 关于天宝集团控股有限公司 天宝始创于1979年，2015年在香港主板上市，专注电源技术研发超过40年，设计和制造安全可靠的电源与智能充电器产品，为不同的客户及不同的终端领域， 提供具有市场竞争力的「一站式智能电源解决方案」，集团多年来成功与全球多个国际品牌建立了良好业务关系，不断拓展巩固客户基础，同时作为国内增长迅速的领先品牌的主要供货商。 此新闻稿由金通策略有限公司代天宝集团控股有限公司发布。 如有查询，请联络： DLK Advisory 金通策略 电话： +852 2857 7101 传真： +852 2857 7103 2022-08-26 此财经新闻稿由EQS Group via SEAPRWire.com转载。本公告内容由发行人全权负责。原文链接: http://www.todayir.com/sc/index.php
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Dynasty Fine Wines’s White Wine Revenue Transcends Red Wine for The First Time in The First Half of 2022 ACN Newswire

Dynasty Fine Wines’s White Wine Revenue Transcends Red Wine for The First Time in The First Half of 2022

August 27, 2022
HONG KONG, Aug 26, 2022 - (ACN Newswire via SEAPRWire.com) - Dynasty Fine Wines Group Limited ("Dynasty" or the "Group") (Stock Code: 00828), a premier grape winemaker in China, today announced its unaudited interim results for the six months ended 30 June 2022.During the period, the resurgence of COVID cases in various cities in China caused the imposing of control and lockdown measures in consuming places and also led to adverse impact on consumer sentiment. As a result, in the first half of 2022, the Group's revenue decreased by 44% to HK$101 million, compared to the same period last year, whereas profit attributable to owners of the Company dropped by 45% to HK$10.7 million. However, gross profit margin increased from 38% in the first half of 2021 to 40% during the period.With consumers' growing interest in white wine products of the Group, especially in coastal regions of China, revenue of white wine products transcended red wines products for the first time in the first half of 2022, as the Group's major revenue contributor, accounted for approximately 52% (2021 1H: 41%) of the Group's revenue for the period. Red wines revenue accounted for 45% (2021 1H: 58%). During the period, the gross margin of white wine products and red wine products were 44% and 35% respectively (2021 1H: 35% and 39% respectively).The Group produces a wide range of more than 100 wine products under the "Dynasty" brand. It has been actively pursuing innovation, embracing the "5+4+N" product strategy. The Group's 5 key series of products comprise the air dry series, seven-year reserve series, merlot series, classic series and best-selling series, which cover fully the price range of mainstream markets, whereas the 4 advantageous product categories include dry red wines, dry white wines, brandy and sparkling wines, which enlarge vertical market shares for the Group. Furthermore, the Group boasts the development of "N" kinds of customized products to meet the diversified needs of Chinese consumers. During the period, the Group launched a new round of upgraded products, the innovative 373ml and 180ml Dynasty dry red and semi-dry white series. The new sizes coming with screw caps offer greater convenience to enjoy and young and chic styles that target the young consumer market. The 180ml wine comes in boxes of six, giving young people another choice of drinks than beers in gatherings. As for the 373ml size, with online-to-offline (O2O) platform support, consumers can scan the product QR code and get rewards. Moreover, the Group has created a gift box during the period for the collection of "Pleasant Color" wines which targets the young consumer market as well. The gift option is ideal for gatherings with family and friends and festive celebrations. New product launch and product upgrade are not only promoting interaction between consumers and the Group's brand, but also ultimately enable Dynasty's products to reach wider consumer groups.In addition, the Group also sold chateau wines imported from France and other foreign branded wines in China through the Group's existing distribution network. In that way, the Group introduced classic "old world" and "new world" varietals to cater for the consumer group preferring the taste of foreign premium wines.During the year, the Group's e-commerce team started to operate online stores on such traditional e-commerce platforms as JD.com, Tmall and Pinduoduo. Moreover, innovations were achieved across its brands, product categories, business systems, operation procedures and models via new retail platforms including Weibo, RED (Xiaohongshu app), Kuai (Kuaishou app) and TikTok (Douyin app), which replaced the cooperation with distributors. The e-commerce team has also actively cultivated e-commerce live broadcasting talents to further expand the Group's sales channels so as to build up a new customer base.The Group held its tasting and business events this February and June, during which the Group actively promoted its latest product mix that covered all product lines, and received enthusiastic market response. Close to the end of the first half of the year, the pandemic has subsided in most regions of China, and the business and sales of the Group has a gradual recovery to normal. Against this backdrop, the Group will continue its reform in sales and marketing. Following the relaxation of COVID control and lockdown measures, the Group will forge ahead the mass-scale marketing campaign showcasing 20,000 shops, hosting 1,000 wine tasting events and organising 100 plant visits, so as to keep developing and enhancing its point-of-sale network.Mr. Wan Shoupeng, Chairman of Dynasty, concluded, "Looking ahead to the second half of 2022, Dynasty will further strengthen presence in Ningxia and Xinjiang to secure the supply of quality grapes and grape juice, and plan for the development of local production bases of grape juice in these regions in the long term. In addition, following the gradual containment of the COVID situation and relaxation of control and lockdown measures at the end of the second quarter of 2022, as well as the policy support for the recovery of economy, the Board currently remains cautiously optimistic on the business in the second half of 2022. The Group will continue to be well prepared to tackle the uncertainties associated with the pandemic, proactively develop the market, enhance product quality and boost sales volume." Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Yincheng International Holding Announces 2022 Interim Results

August 26, 2022
HONG KONG, Aug 26, 2022 - (ACN Newswire via SEAPRWire.com) - An established property developer in the PRC focusing on developing quality residential properties in the Yangtze River Delta Megalopolis for customers of all ages, Yincheng International Holding Co., Ltd. ("Yincheng International Holding" or the "Company", together with its subsidiaries, the "Group", Stock code: 1902.HK) is pleased to announce its unaudited consolidated interim results for the six months ended 30 June 2022 (the "Period").During the Period, the Group's revenue increased by approximately 20.9% YoY to approximately RMB 4.58 billion. While the gross profit increased significantly by approximately 95.9% YoY to approximately RMB 1.35 billion, the gross profit margin increased by 11.3 percentage points YoY to approximately 29.5%. Profit for the Period increased by approximately 11.9% YoY to approximately RMB333.7 million. Net profit margin remained roughly the same as that from the same period last year at approximately 7.3%.Key projects achieved favourable sales record The real estate industry in the PRC has undergone a tremendous transition since last year due to various factors including the pandemic, an overall economic decline, industrial downturn and funding difficulties. During the Period, the Group recorded contracted sales of approximately RMB6.57 billion, which drop was in line with the overall trend amongst its peers. In such extremely challenging market conditions, the Group has made great efforts to maintain a stable operation, and vigorous launch for key projects, including Yi He Shan Zhuang in Hangzhou, Dong Wang in Suzhou, Jinlinfu in Taizhou and Huan Le Tian Di in Wenzhou, still bucked the market with excellent performance and became bestselling projects in their respective regions. It indicates that the Group commenced its business in Nanjing and successfully expanded its footprint to other cities in the Yangtze River Delta Megalopolis. During the Period, the contracted sales gross floor area ("GFA") was approximately 308,597 sq.m. while the average selling price of the contracted sales remained relatively stable at approximately RMB21,277 per sq.m., representing an increase of approximately 4.4% YoY.All projects delivered on schedule with a record-high cash collection rate In view of the continuously harsh business environment and facing the common industry problem of tight cash flow just like any other real estate enterprises, the Group has taken a number of measures to maintain sufficient liquidity and stability with its daily operations. There was a comparatively high cash collection rate in the first half of the year with an overall cash collection of approximately RMB8.21 billion, which makes a cash collection rate of 125%. As project delivery has become the focus of the industry and even the entire society, the Group has made "guaranteed delivery" a priority to ensure timely delivery of its projects, so as to protect the interests of home buyers, live up to the market's confidence in the Group and maintain the good market reputation of its brand. In the first half of the year, the Group delivered properties with a total GFA of approximately 158,000 sq.m.. In particular, all projects were delivered on schedule without any breach on contract delivery. The overall delivery rate of the Group in the first half of the year was approximately 85.8% and the delivery satisfaction rate was approximately 86%, both of which were at benchmark level in the industry.Precise deployment in key markets with sufficient land reserves supports future developmentAs a regional deep-cultivation enterprise, the Group has sufficient land reserves and saleable projects to support its future sales. During the Period, the Group had a land bank with an aggregate estimated GFA of approximately 7.19 million sq.m., out of which the land bank with interests attributable to the Group amounted to approximately 4.73 million sq.m, mainly situated in core cities of the Yangtze River Delta Economic Megalopolis and the new first-tier cities, including Nanjing, Zhejiang and southern Jiangsu, accounted for 92% of the total land reserves. As of 30 June 2022, the Group's total saleable GFA was approximately 2.94 million sq.m., with a total saleable value of RMB 62.3 billion and an ASP of approximately RMB21,200/sq.m., providing solid supports to the Group's future revenue and long-term sustainable operation. During the Period, the Group had 61 projects located in 10 cities in the PRC, of which 35 projects were developed and owned by the Group and the remaining 26 projects were developed and owned by the Group's joint ventures and associates.Effective de-leverage yielded remarkable results with strong operation managementWhile striving to achieve stable business growth, the Group is committed to optimizing its debt structure and deleveraging. During the Period, the Group reduced its liabilities, hence the size of interest-bearing liabilities decreased by 14.1% to RMB11.7 billion, compared with the end of 2021. Among which, the short-term borrowings remained at a stable level, showing that the Group continued to manage its liabilities in an orderly manner. The Group's average financing cost was further declined from the end of 2021, and maintained at a relatively low level of 6.7%, maintaining its efficient fund utilization. The financing structure was primarily consisted of bank loans with a lower overall cost, which accounted for 75.6% of the total debt, to safeguard the Group's sustainable operation.Mr. Huang Qingping, the Chairman of Yincheng International Holding, said "In the second half of the year, although there have been improvements in the operating environment of the real estate industry, and both market confidence and transaction volume are expected to recover or resume to a certain extent, given the uncertainties of the COVID-19 pandemic, the continuing trend of economic downturn and the ongoing tight cash flow problem in the industry, real estate enterprises are still facing an overall unfavorable operating environment. The Group believes that private enterprises can no longer be guided by business scale in the future, they should instead strive to have a full understanding of customer and product needs in regional markets and make business decisions swiftly in response to market changes, so as to secure regional market development opportunities. Looking forward, the Group will take the market recovery and rebound as an opportunity to improve its sales and actively minimize potential risks over the course of its operation. Not only will the Group perfect its overall cash flow management to safeguard its business operations, but it will also require its subsidiaries to audit cash flow records (including sales return records), regulate the use of funds and, in particular, to restore liquidity available for allocation by the Group. At the same time, the Group will properly handle its cooperative relationship with suppliers under the current market situation, balance various payment relationships and ensure that all its business units can carry out various business tasks smoothly. the Group will use its best endeavour to maintain normal project development with timely sales and delivery. It will, as a listed real estate enterprise and a reputable local brand, strive to maintain or carry out an appropriate level of commitment and social responsibility of towards its investors, home buyers and the market." Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Q P Group Announces Record-high 2022 Interim Results ACN Newswire

Q P Group Announces Record-high 2022 Interim Results

August 26, 2022
HONG KONG, Aug 26, 2022 - (ACN Newswire via SEAPRWire.com) - Q P Group Holdings Limited ("Q P Group" or the "Group"; Stock code: 1412), one of the leading manufacturers of paper-based tabletop games and paper-based greeting cards in the People's Republic of China (the "PRC"), recorded a total revenue of approximately HK$657.8 million, representing a year-on-year increase of approximately 11.6% for the six months ended 30 June 2022 ("6M2022" or the "Period"). The Group's profit attributable to equity holders of the Company was approximately HK$53.7 million, up by approximately 65.1% as compared with that of the six months ended 30 June 2021 ("6M2021"). Basic earnings per share was approximately HK10.09 cents (6M2021: HK6.11 cents).The Board of Directors has resolved to declare an interim dividend of HK3.0 cents per share for 6M2022 (6M2021: HK2.0 cents).Business ReviewDuring the Period, the COVID-19 pandemic continued to affect the global economy and business operations. Despite the challenges, the Group weathered the global supply chain chaos over the past year and its order fulfilment resumed to normal during the Period. Also, the Group successfully captured the business opportunities derived from the strong demand for tabletop games and educational items in the European and the USA markets extending from the previous years and achieved growth in OEM business, with the revenue derived from OEM sales increased by approximately 14.2% year-on-year to approximately HK$566.8 million for 6M2022, which drove the increase in total revenue of approximately 11.6% year-on-year to approximately HK$657.8 million and the increase in net profit of approximately 65.1% year-on-year to approximately HK$53.7 million for 6M2022. Meanwhile, the revenue derived from web sales business during 6M2022 was approximately HK$91.0 million (6M2021: approximately HK$93.2 million); the number of active registered user accounts, which refers to the number of registered user accounts with orders placed via the Group's major websites, amounted to approximately 53,300 as at 30 June 2022 (approximately 54,700 as at 31 December 2021).ProspectsThe Group will continue to stay highly focused on consolidating its business while remaining cautious about the business environment for the rest of the year. As many countries are accelerating steps to roll back COVID-19 restrictions, the Group will actively engage with existing and potential corporate customers in the USA and Europe through exhibitions, trade shows and client visits by its overseas sales representatives to explore OEM business opportunities and foster business relationships. For the web sales business, the development of Q P Market Network ("QPMN"), a business-to-business-to-consumer (B2B2C) online platform offering one-stop product customisation solutions, will continue to be the Group's key strategic focus. Q P Group will make determined efforts to promote the mutually beneficial business model of QPMN to potential partners including brand owners, enterprises, designers and organisations. It will actively network with design communities and institutes to build up QPMN's brand awareness and reputation in the field. Expansion of the product range will be another important part of QPMN's development in the long run, so that the platform can cater to the market demand for diversified customised products and the needs of potential business partners. Besides QPMN, the Group will also introduce new products for its other web sales platforms and market its new launch through crowdfunding so as to further increase its brands' market presence and brand exposure in the global online market.In addition, Q P Group is developing a comprehensive supply chain in Vietnam to expand production capacity and diversify operational risk. The development of a self-owned production plant in Ha Nam Province, Vietnam is in progress, with completion expected to take place in the third quarter of 2023. Mr. Cheng Wan Wai, Founder, Chairman and CEO of Q P Group concluded: "The global economy is widely expected to be buffeted by various uncertain factors and challenges. Q P Group will stay alert and take proactive measures to strengthen our foundation through application of innovative business operating models, steady business expansion and continuous improvement in our operational excellence, so as to pursue business success through stability and create value for our shareholders and society."About Q P Group Holdings Limited (Stock code: 1412)Established in Hong Kong in 1985, Q P Group is one of the leading paper-based tabletop games and paper-based greeting cards manufacturers in the PRC, with production sites in Dongguan and Heshan. Its principal product categories include tabletop games, greeting cards, educational items and premium packaging. Since 2010, the Group has operated web sales businesses to provide online solutions for diversified customised paper products and gift items. Currently, the number of its active registered users has reached over 50,000.Q P Group's major websites are:www.makeplayingcards.comwww.boardgamesmaker.comwww.createjigsawpuzzles.comwww.printerstudio.comwww.gifthing.comwww.maketotebags.comQ P Market Network:www.qpmarketnetwork.comFor more information, please visit: https://www.qpp.com/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Chu Kong Shipping Announces 2022 Interim Results, Profit Attributable to the Equity Holders of the Company Significantly Increases by 110.6% to HK$54.9 Million ACN Newswire

Chu Kong Shipping Announces 2022 Interim Results, Profit Attributable to the Equity Holders of the Company Significantly Increases by 110.6% to HK$54.9 Million

August 25, 2022
HONG KONG, Aug 25, 2022 - (ACN Newswire via SEAPRWire.com) - Chu Kong Shipping Enterprises (Group) Company Limited ("Chu Kong Shipping", or the "Company", together with its subsidiaries, the "Group"; Stock Code: 560.HK) is pleased to announce its interim results for the six months ended 30 June 2022 (the "Period"). During the Period, the international environment became more complex and severe, while the global epidemic remained severe. However, thanks to the growth of the terminal logistic business, the Group's results during the Period remained promising. In the first half of 2022, the continuous impact of the repeated COVID-19 epidemic and the sharp increase of oil prices led to significant pressure on the Group's business operation. The fifth wave of the epidemic, which broke out in Hong Kong at the beginning of the year, had certain impact on the local ferry and water cultural tourism businesses. The cross-border passenger transportation business operations of the Group were still in a trough due to the epidemic prevention policies. Nonetheless, in the face of the challenges in the external environment, the Group accelerated its business transformation and upgrading, endeavoured to create new drivers for growth and efficiency, and continued to optimise its operation and control model. Subsequently, most of the terminal logistic business was stabilised and showed improvement through active development. During the Period, the Group recorded consolidated revenue of HK$1,601.2 million (1H 2021: HK$1,142.7 million) , representing an increase of 40.1% over the same period last year. Profit for the Period amounted to HK$61.7 million (1H 2021: HK$39.7 million), representing an increase of 55.4% over the same period last year. Profit attributable to the equity holders of the Company amounted to HK$54.9 million (1H 2021: HK$26.1 million), representing an increase of 110.6% over the same period last year. Precisely Grasping Market Opportunities and Continue to Build New Advantages in the Port Logistics BusinessRegarding the freight business, leveraging its advantages of the terminal's network, the Group seized the opportunity to assist Hong Kong's anti-epidemic livelihood supplies transportation project and continued to provide new impetus to local businesses. It focused on improving the layout of the industrial chain and vigorously developed the terminal logistic business market, while carrying out epidemic prevention and control. During the Period, the break bulk cargoes transportation volume recorded 342,000 tons, representing a year-on-year increase of 4.9%. Under the influence of the epidemic, several domestic cities were locked down and the supply of container space and containers was insufficient, the container transportation volume recorded 644,000 TEU. As for the cargo handling business, the container handling volume recorded 571,000 TEU, representing a year-on-year increase of 0.2%. The break bulk cargoes handling volume recorded 4,036,000 tons, representing a year-on-year increase of 6.6%, and the volume of container hauling and trucking recorded 98,000 TEU.During the Period, the Group fully utilised its business advantage as a combination of "transit and port" in the Guangdong-Hong Kong-Macao Greater Bay Area; Chu Kong Transhipment & Logistics Co., Ltd. ("CKTL"), in conjunction with Qingyuan Port, Doumen Port, Zhongshan Port, Zhongshan Huangpu Port, Gaoming Port, Beicun Port, Sanbu Port and many other freight ports, has been successfully opening "Green Passages" and "Synergised Passages" to secure a full logistics chain, in order to realise a smooth integration of consignment consolidation, custom clearance, as well as consignment loading and unloading, which in turn has efficiently supplied medical materials and other resources for anti-epidemic measures, quarantine measures, as well as for daily necessity such as fresh food and grocery items. Being faced with the precarious situation of the fifth-wave epidemic in Hong Kong, the Group has also earnestly fulfilled its corporate social responsibility by making an outstanding contribution to the anti-epidemic work in Hong Kong, which has received extensive coverage by many mainstream media news.Driven by the transportation business of anti-epidemic materials for Hong Kong during the Period, CKTL, Zhongshan Huangpu Port, Doumen Port and Qingyuan Port have significantly improved their operating efficiency. The new warehouse in Tuen Mun was successfully put into operation, and the integrated logistics business has developed rapidly. CKTL and a courier company have jointly operated the warehouse for Regulated Air Cargo Screening Facilities Scheme in Tuen Mun Godown Wharf, which has further enhanced the Group's air freight business volume. CKTL has vigorously developed the business of local construction logistics in Hong Kong, transformed and upgraded the traditional container berth in Yau Ma Tei and built it into a professional engineering logistics loading, unloading and distribution base. The Group has successfully facilitated the logistic project of inner wall bent plate of the tunnel for the Central Kowloon Route, as well as the logistic project of the transitional housing scheme in Kong Ha Wai Village, concentrating on securing the logistics for the Hong Kong Mobile Cabin Hospital and other construction projects supported by the central government concerning the anti-epidemic measures in Hong Kong. Gaoming Port has taken lead to develop cross-border e-commerce business and started a trans-customs transportation business between Foshan Gaoming district and Guangzhou Baiyun International Airport; the express parcel processing facility in Gaoming Port has also successfully launched its cross-border e-commerce direct delivery business. Civet Port has seized the opportunity to successfully develop the operating business of the centralised Zhuhai cross-border freight transfer station, as well as the operation business of the Guangdong-Hong Kong-Macao Logistics Park cross-border freight transfer station. Doumen Port has continued to promote business diversification whilst continuing to develop a comprehensive logistics business and has successfully developed bulk building materials businesses such as remote loading of bridge components for Hong Kong and Macao, and berthing and loading of cement ships for Hong Kong. Doumen Port has also coordinated the existing warehouse resources, completed the qualification examination and acceptance process of supervised designated sites for imported fruits, and prepared to develop business for imported fruits.Steadily Promoting Airport Strategy and Actively Cultivating New Businesses in Passenger Transportation SegmentRegarding the passenger transportation business, the Group actively cultivates new businesses surrounding Hong Kong International Airport, and achieved another key breakthrough in its airport strategy. Hong Kong International Airport Ferry Terminal Services Limited, a member of the Group, has won the project of passenger and baggage service in transit terminal of Hong Kong International Airport, which has, in turn, expanded the Group's cross-border airport passenger service from "sea-air transport" to "sea-land-air transport". The businesses previously developed by Chu Kong Passenger Transport Co., Ltd. related to Hong Kong International Airport have maintained normal operation under the impact of the epidemic, among which, the car-sharing business on the apron of Hong Kong International Airport has maintained steady growth.OutlookIn the second half of the year, the COVID-19 epidemic will continue to exert pressure on the Group's cross-border passenger transportation and its related auxiliary businesses. The Group will actively integrate into the national and regional development landscape, optimise the strategic layout as a breakthrough, accelerate the construction of new development pattern, and plan the strategic layout in the operating segments such as cargo transportation, cargo handling and storage, passenger transportation business, fuel supply, etc. The Group will persistently accelerate its business transformation, upgrade and innovation by broadening its vision of operation and development, adjusting the layout of industrial structure, and integrating advantageous resources to break through development bottlenecks as well as to form development synergies.Firstly, the Group will make every effort to transform and upgrade its logistics business. The Group will actively capture the opportunities in the Hong Kong infrastructure market, and fully utilise the professional engineering logistics loading, unloading and distribution base operated by the Group in Hong Kong, in order to further develop our engineering materials logistics business; the Group will leverage the geographic advantage of the Tuen Mun Godown Wharf to focus on developing the e-commerce logistics, air cargo logistics and duty-free warehousing businesses; the Group will focus on nurturing the e-commerce logistics business at Gaoming Port, improve the capacity of the supporting logistics service, and build a quality cross-border e-commerce custom clearance centre in the Greater Bay Area; the Group will also strengthen the development of the business in Civet Port's centralised cross-border trucking terminal, and promote maintenance and upgrade for its quays and berths to enhance cargo handling capacity.Secondly, the Group will continue to develop new advantages in the passenger transport business. The Group will promote operation integration of its cross-border passenger business, focus on developing potential routes and cancelling routes that have become less competitive in an orderly manner; the Group will continue to actively participate in bidding for strategic and quality projects of Hong Kong International Airport, and strive to become an integrated service provider for Hong Kong International Airport; the Group will enhance the management quality and service capability of its local ferry business, and strengthen the local transportation and public industry in Hong Kong; the Group will prepare to launch the passenger route between Guangzhou Huangpu and urban Hong Kong, as well as the routes between Guangzhou Pazhou, Shunde and Hong Kong International Airport, and actively prepare for the resumption of cross-border passenger routes.Thirdly, the Group will actively develop the water cultural tourism industry. The Group will focus on the project of the "Oriental Pearl" Victoria Harbour tour and will promote the brand building and raise awareness of "Oriental Pearl" to create a platform for water cultural tourism and commercial events in Hong Kong. In the second half of the year, "Oriental Pearl" will realise berth-and-operate in Central Ferry Pier No.8, strengthen exploration of the market potential in urban Hong Kong Island, strengthen the promotion of both online and offline agents, and actively plan for festival-theme events as well as commercial boat charter events.Fourthly, the Group will fully explore the potential of the fuel supply business. The Group will take advantage of Hong Kong scarce local refueling buoy facilities, strengthen cooperation with oil companies, and actively bid for over-the-water fuel supply projects in Hong Kong.Fifthly, the Group will accelerate the implementation of investment projects in countries along the "Belt and Road" initiatives. The Group will accelerate the establishment of logistics business outlets in the ASEAN region, acquisition of investment projects with synergistic value, establish overseas bases, and actively develop markets along the "Belt and Road" initiatives.About Chu Kong Shipping Enterprises (Group) Company LimitedChu Kong Shipping is a listed company incorporated in Hong Kong held by Chu Kong Shipping Enterprises (Holdings) Company Limited and subject to Guangdong Provincial Port & Shipping Group Company Limited. Chu Kong Shipping operates and manages the largest high-speed passenger fleet and network of waterway passenger transport in Guangdong, Hong Kong Macau which is based in Hong Kong and covered the Pearl River Delta ("PRD") and Macau including more than 10 cities such as Guangzhou, Shenzhen, Shunde, Zhongshan, Zhuhai, Dongguan, Jiangmen, Macau and so on. Since the acquisition of Sun Ferry Services Company Limited in May 2020, CKSG has entered the local ferry market in Hong Kong, providing services on five main inner harbour and outlying island ferry routes. Chu Kong Shipping is also one of the largest operators of inland terminal and logistics service in the PRD. Based in Hong Kong, Chu Kong Shipping builds up a network covering more than 20 cities in the PRD, including Zhaoqing, Qingyuan, Foshan, Guangzhou and Jiangmen etc., providing the operation of inland cargo terminals, integrated logistics, international forwarding and solutions to logistic supply chain and so on.For more information, please visit: https://www.cksd.com/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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VCREDIT 1H2022 Achieves a Solid Performance ACN Newswire

VCREDIT 1H2022 Achieves a Solid Performance

August 24, 2022
HONG KONG, Aug 24, 2022 - (ACN Newswire via SEAPRWire.com) - VCREDIT Holdings Limited ("VCREDIT" or the "Group"; stock code: 2003.HK), a leading independent online consumer finance provider in China, announced its unaudited interim results for the 6 months ended 30 June 2022 (the "Period"). During the Period, the Group achieved a solid performance from operations despite a number of challenges, including outbreaks of the COVID-19 coronavirus and lockdown of Shanghai and other cities in China and deterioration in the real estate sector. The Group record a total income of RMB1,582.5 million, and an adjusted Net Profit of RMB331.5 million. The Board has recommended the distribution of an interim dividend of HK10 cents per ordinary share of the Company (the "Share") for the Period to shareholders of the Company. Investment Highlights1H 2022(RMB million)Total Income: 1582.5Operating Profit: 430.4Net Profit: 328.0Adjusted net profit: 331.5Proposed Interim dividend: HK10 centsDuring the Period, the Group achieved solid performance from operation in line with its expectations, notwithstanding adjustments to its business strategy and model to accommodate alignments between its product and regulatory limits on consumer finance interest rate and risks within the Chinese macro-economy arising from intermittent COVID-19. At the same time, the Company continued to make evolutionary adjustments to risk management model to reflect market developments and behavioural changes that affect demand for its products as the Group maintain its strategy of targeting higher quality prime and near-prime borrowers. Its loan origination volume reached a record high of RMB24.64 billion for the Period, representing an increase of 9.4% compared to the six months ended June 30, 2021 and an increase of 35.5% compared to the six months ended December 31, 2021. Outstanding loan balance exceeded RMB20.49 billion as of June 30, 2022, representing an increase of 31.1% compared to RMB15.64 billion as of December 31, 2021.Initiate strategy changes that foster flexibilityBy using dynamic data analytics to constantly refine its penetration as well as enriching its service to customers, the number of its registered users increased to 118.1 million, and are paying dividends as 89.2% of its loan volume for the Period was contributed by repeat borrowers. In order to reach and stay connected with more of its target customers, the Group has expanded its network of customer acquisition channels and use of industry platforms with priority given to channels that capture high-quality customers. The collaborations with newly-partnered channels, such as OPPO, Xiaomi and China Telecom, are proving mutually beneficial. Notwithstanding, to improve customer experience on its digital platform, the Group continues to refine its online APPs along with various loan facilitation and post-loan management services. Asset quality remains robust despite market downturnDespite the added risks within China's macro environment due to the effects of outbreaks of the COVID-19 and lockdown of Shanghai and other cities in China and deterioration in the real estate sector in 2021, which persisted throughout the first half of 2022, the Group manages to improve its delinquency ratios and asset quality metrics which are currently at levels that are considerably better than second half of 2021.As a leading fin-tech enterprise, the Group leveraged its leading finance technology and robust risk control capabilities to mitigate the inherent risks to its business and continued to optimize its credit risk policy in order to ensure the Group captured and served higher-quality customers in the sterner operating environment. As a result, the Group's credit control capabilities are evidenced by the outstanding performance of its asset quality metrics. The Group's first payment delinquency ratio achieved a new record low of around 0.25% for the Period, whilst its M1-M3 ratio and M3+ ratio declined to 2.07% and 2.06%, respectively, in the second quarter of 2022 from 4.01% and 2.39%, respectively, in the fourth quarter of 2021.Stable financial institutional partners drive sustainable growth to the business By the end of the Period, the Company had long-term collaborative relationships with 80 external funding partners, including commercial banks, consumer finance companies and trusts. Through these long-standing cooperations, funding costs continued presentation a declining trend. Furthermore, third-party guarantee companies and asset management companies secure the ecosystem in terms of funding flexibility and protection to its funding partners. Moreover, to strengthen the relationship with its funding partners, the Group has been exploring potential technology cooperation opportunities to empower its digital capabilities. OutlookLooking forward, as an innovation-oriented and technology-driven finance company, the Group will strive to maintain its agile, efficient and regulated business approach. Fulfilling its prime and near-prime customers under-served credit demands is its driving force to systemise marketing strategies, upgrade credit risk algorithms and models, and optimise product operation. Moving forward, the Group intends to continue to execute these strategies to maintain its growth in the industry, including streamline and extend its credit solutions to better serve its customers to improve brand recognition and customer loyalty and creditworthiness, enhance risk-centered technology capability through constant research and development; consolidate regulated and long-term collaborations with licensed financial institutional partners and business partners; compliance with the laws and regulations as the first priority to maintain the sustainability of its business; cultivate a dynamic enterprise value and culture and grow its in-house talents. About VCREDIT Holdings Limited (2003.HK)VCREDIT Holdings Limited (stock code: 2003.hk) ("VCREDIT") is a leading player in China's consumer finance industry with over 10 years of track record. The Company caters to prime and near-prime borrowers underserved by traditional financial institutions by offering credit card balance transfer products, and consumption credit products. To match the funding needs for these products, the Company primarily engages institutional funding partners through three types of sustainable and scalable funding structures: trust lending, credit-enhanced loan facilitation and pure loan facilitation. Through such funding structures, VCREDIT provides institutional funding partners with solutions at varying levels of risk discretion and flexible profit-sharing arrangements.For enquiries, please contact Hill+Knowlton Strategies Asia:Vivian Kwan / Jennifer Wong Tel: (852) 9146 6322 / (852) 2894 6255 Email: vcredit@hkstrategies.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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GamesCoin Group’s Gaming Revolution is Moving Ahead at an Unstoppable Pace ACN Newswire

GamesCoin Group’s Gaming Revolution is Moving Ahead at an Unstoppable Pace

August 23, 2022
BERLIN, Germany, Aug 23, 2022 - (ACN Newswire via SEAPRWire.com) - Their worldwide promotional roadshow "MOMENTUM" will be continued as part of Gamescom in Cologne - the gaming metaverse will be presented at the exhibition. Alex Suárez, CEO & Founder, GamesCoin GroupKey highlights:- GamesCoin Group has built the first 'Play to Own' Metaverse Platform on the Blockchain.- The company has launched the GamesCoin LAB to experiment and develop different innovative and disruptive ideas.- The next stop of their international promotional tour is at Gamescom in Cologne, from August 24 to 26, 2022.Alex Suarez, CEO and founder of GamesCoin Group, is rewriting the history of gaming by simply merging gaming with modern blockchain technology. The immersive game world gives players full control over all assets they unlock or acquire in the game and allows them to benefit from their in-game achievements. GamesCoin Group positions itself as the pioneer and a true game changer in the blockchain gaming industry as it works with disruptive tech that incorporates metaverse and Web 3 experiences. GamesCoin Group is providing a comprehensive ecosystem for gamers, game developers, publishers and advertising partners built on the GamesChain - its own Ethereum-based blockchain. The Hub will enable players to seamlessly move between different games and virtual worlds using NFTs and digital assets to play. Users can also effortlessly create and own their gaming experience in an open and scalable metaverse with a higher level of interactivity. A key component is their GamesCoin token, an integrated currency in all worlds of the Hub.The world's first 'Play to Own' metaverse hub for gaming on the blockchain requires increased agility and reduced reaction times. The company has launched the GamesCoin LAB, which is a think tank focused on experimentation for innovation. Experts from various disciplines, gamers and like-minded people from all around the globe meet here to contribute to the development of GamesCoin and its digital gaming ecosystem. The small-scale successes become reliable building blocks during the execution of the innovation. From the design of new games, digital asset related developments or the further refinement of decentralised technologies, the GamesCoin LAB is where ideas transform into practical applications."The GamesCoin LAB gives us the opportunity to invite people to join us in shaping the evolution of gaming according to their own aspirations. In doing so, we not only appeal to experienced contributors but also give the next generation the opportunity to bring their ideas to the table, shape new gaming experiences and profit from their success." said Alex Suarez, CEO & Founder, GamesCoin Group.As part of its international promotion tour MOMENTUM, the GamesCoin Group is making its next stop at Gamescom in Cologne. The company will welcome its visitors from August 24 to 26, 2022, and present the current state of its developing gaming metaverse to the trade audience.About GamesCoin GroupGamesCoin is unlocking an ecosystem for a whole new gaming world by combining blockchain and gaming in innovative ways to enable a digital cosmos offering countless opportunities - from multi-utility NFT marketplaces for gaming items to cross-game promotions. Extremely secure, compliant and user-friendly wallet technology enables gamers and partners great accessibility to this next-generation gaming ecosystem. Web: https://gamescoin.ioCONTACTGamesCoin GroupChristian Schon / CCO13587 Berlin, Germanyinfo@gamescoin.iogamescoin.iomomentum.gamescoin.ioT +49 30 439 73 82 80Source: Plato Data Intelligence: https://platodata.ai Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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