representing – PressAP

ACN Newswire

Yalla Group Q3 Earnings: Quarterly revenue passes US$ 80 million as steady growth continues

November 28, 2022

HONG KONG, Nov 28, 2022 - (ACN Newswire via SEAPRWire.com) - On November 15, 2022, Yalla (NYSE: YALA) announced its Q3 2022 financial results. The results highlighted that Yalla had surpassed revenue expectations during the quarter and maintained its steady growth. While other companies in the social media and entertainment field may be struggling, Yalla's continued growth is a very positive sign. Revenue hits a quarterly highYalla's revenues were US$ 80.1 million in Q3 2022, representing a YoY increase of 12.3% and a QoQ increase of 5.2%. The figure surpasses the revenue guidance for the quarter (US$ 75 million) and represents a new record for the social media outfit. In terms of business segments, revenues generated from chatting services reached US$ 56.2 million, representing a YoY increase of 4.3% and a QoQ increase of 6.7%. Revenues generated from gaming services were US$ 23.9 million, representing a YoY increase of 36.9% and a QoQ increase of 2.3%. After the high-speed growth during the pandemic, Yalla's growth rate has stabilized. Thanks to strong operational management and product innovation, both business segments have achieved steady growth.In terms of profitability, due to spending on R&D, the promotion of new products, and a renewed focus on customer acquisition, Yalla's profit margin dropped slightly but generally remained broadly stable. In Q3 2022, the non-GAAP net income was US$ 29.4 million, representing a YoY decrease of 11.5% and a QoQ increase of 2.7%. The non-GAAP net margin was 36.7%, representing a slight decrease of 0.9% compared with Q2.For Q4 2022, Yalla's management expects the revenues to come in between US$ 70 million and US$ 76 million. This would represent a considerable YoY growth of between 3%-12%, as revenues in Q4 2021 came in at US$ 67.6 million.Hardcore games entered the testing stageIn the second half of 2021, Yalla announced the establishment of its subsidiary, Yalla Game. The business segment develops and runs a range of mid-core and hardcore games in the Middle East and North Africa (MENA). Yalla Game has recently created and launched its first hardcore SLG game - Merge Kingdom - and after nearly a year, the application has reached another major milestone.Merge Kingdom has now been released in its beta version in many MENA countries, Yalla management highlighted in the Q3 report. At present, Yalla Game is actively collecting user feedback and adjusting the product to meet client needs, the firm stated. Meanwhile, Yalla's management revealed that the company planned to release its second hardcore game in the MENA region and that more details would be announced by the end of this year. Positive signs for gaming monetizationIn 2021, Yalla launched its casual game portfolio, including Yalla Parchis, 101 Okey Yalla, and Yalla Baloot, in dozens of countries such as Colombia, Turkey, and Mexico. These products are showing considerable promise for monetization though they only generated limited revenues for now. In Q3 2022, Yalla Parchis ranked in the top five board games in 10 countries including Colombia, Mexico, Chile, and Spain. According to Yalla's management, the firm undertook activities in Q3 to enhance user acquisition. Taking the Spanish market as an example, Yalla launched an activity "Tomato Battle" with reference to "La Tomatina" - a traditional Spanish festival featuring the red fruit. This game attracted more than 50% of daily active users and increased the consumption of diamonds (top-up virtual currency) on the platform by over 20%.As for 101 Okey Yalla, Yalla added an independent chat room to the app during the quarter to meet the chatting needs of local users. According to Yalla's management, the number of paying users and the payment ratio of 101 Okey Yalla improved considerably, while its total revenue increased by over 100% compared with the previous quarter. It is also worth mentioning that Yalla has made many improvements to its flagship product, Yalla Ludo, to enhance the profitability of its game portfolio. In Q3, Yalla launched distribution gift cards for Yalla Ludo on its marketing channels, which improved the monetization of products. Meanwhile, Yalla added the applet Yalla Ludo to the IM product YallaChat, which gives users full access to the game assets and data in the application. A platform for future growthIn Q3 2022, the number of monthly active users (MAUs) was 30.9 million, representing a YoY increase of 19.1% and a QoQ increase of 3.3%. Growth in MAUs has been seen for 10 consecutive quarters. This is the first time that the MAUs of Yalla topped 30 million.With regards to paying users, Yalla has focused on improving the paying user conversion rate since 2022. The ratio of paying to non-paying users has increased from 30% at the end of 2021 to 37.4% in Q3 2022 - this is expected to increase further in the future.The development of mid-core and hardcore games and the further development of casual games also contributed to Yalla's rising costs. Yalla's research and development expenses in Q3 increased by 42.2% compared with the same period last year. In the field of casual games, Yalla increased its sales and marketing expenditure, which contributed to growing operating costs. In Q3, sales expenditure increased by 9% compared with the same period last year. Meanwhile, the cost of revenues increased by 26.3% compared with the same period last year.It is worth mentioning that Yalla Group has developed a very healthy cash position which will aid future expansion. Despite increasing expenditure, Yalla's cash and cash equivalents were US$ 391.2 million at the end of Q3 2022 - representing growth against the previous quarter. Yalla's positive cash flow is one of the reasons why I have been paying close attention to the company as rising interest rates increase the cost of growth for companies in need of borrowing. Yalla can even earn interest on its capital deposits. Closing Remarks Looking beyond future growth expectations, the stock looks attractive on value alone. The voice-centric social networking and entertainment platform doesn't look expensive by several metrics. It has a forward price-to-earnings ratio of 6.01, versus a sector average of 12.8, while its price-to-sales ratio is 2.14, above the industry average of 1.24. And given the size of its net cash position, it has an enterprise value-to-sales ratio of 0.72 versus a sector median of 1.95. Collectively, these metrics look positive. Considering the above, I'm expecting to see the share price push upward in the coming months towards $6 a share. This would bring the EV / share ratio closer in line with the sector average. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

The Hong Kong Institute of Directors Holds Silver Jubilee Dinner and Presentation Ceremony for Directors Of The Year Awards 2022

November 25, 2022

HONG KONG, Nov 25, 2022 - (ACN Newswire via SEAPRWire.com) - The Hong Kong Institute of Directors ("HKIoD") has announced the winners of the Directors Of The Year Awards ("DYA") 2022. As the flagship project of HKIoD, DYA is one of the most prestigious business accolades in Hong Kong and the first of its kind in Asia. It seeks to recognise outstanding boards and directors, publicise the significance of good corporate governance and promote good corporate governance and director professionalism. The Awards were presented during the Silver Jubilee Dinner that celebrates the 25th Anniversary of both HKSAR and HKIoD, both having operated since 1 July 1997.Financial Services and the Treasury (6th from the left, 1st row) bestows on the long-term loyal members of HKIoD souvenirs in recognition as Silver Jubilee Stars. They joined the membership in 1997, the inception year of HKIoD.Congratulations to the awardees, who are inspiring role models for all directors!This year's theme of work by HKIoD, notably in the Awards, is 'From Resilience to Sustainability', reflective of what directors have learnt over the years as resilience is the most important quality a company needs to survive in the ever-changing world and sustainability is the ultimate goal of every company.The winners have been recognised for their ability to cultivate resilience in their businesses to the degree that they are able to anticipate, prepare for and respond to incremental change in an age of great disruption, whilst setting the pace for excellent sustainability-focused leadership now and into the future. The winners of DYA 2022 in the various award categories are listed below: Listed Companies CategoriesExecutive Directors-- Mr TAI Chun KitFour Seas Group-- Ms TANG Mei Wah Town Ray Holdings Limited Boards-- Baguio Green Group Limited -- China Resources Beer (Holdings) Company Limited -- Tai Hing Holdings Group LtdNon-listed Companies CategoriesExecutive Directors-- Ms LINShun Heung, Ophelia Meiriki Japan Company Limited Boards-- Hong Yip Holdings LtdStatutory/Non-Profit Distributing Organisations CategoriesExecutive Directors-- Ms LI Sum, Helen The Institute of Internal Auditors Hong Kong Limited Non-Executive Directors-- Ms Cordelia CHUNGHong Kong Science and Technology Parks Corporation -- Mr Dennis HOChiu PingHong Kong Science and Technology Parks Corporation -- Mr Andrew JONES Kely Support Group Boards-- Competition Commission -- Board of Consumer Council -- General Committee of Federation of Hong Kong Industries -- Hong Kong Science and Technology Parks Corporation About Directors Of The Year AwardsThe Hong Kong Institute of Directors ("HKIoD") is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. HKIoD is a member institute of the Global Network of Director Institutes, a worldwide alliance of leading director institutes.About The Hong Kong Institute of DirectorsThe Hong Kong Institute of Directors is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. Website: http://www.hkiod.com.Media Enquiries:Strategic Public Relations Group LimitedBrenda Chan +852 2114 4396/ brenda.chan@sprg.com.hkChak Yau +852 2114 4395/ chak.yau@sprg.com.hkDirectors Of The Year Awards:The Hong Kong Institute of Directors Odessa So +852 2889 4988 / odessa.so@hkiod.comJoanne Yam +852 2889 1414/ joanne.yam@hkiod.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

Far East Horizon Announces 2022 Interim Results

August 29, 2022

HONG KONG, Aug 29, 2022 - (ACN Newswire via SEAPRWire.com) - Far East Horizon Limited (Stock Code: 03360.HK), a leading financial services and industrial group in China, announced its interim results for the six months ended 30 June 2022.Financial ReviewIn the first half of 2022, the international and domestic environment was complex and volatile, with increasing risks and challenges. Although the environment was posing new challenges to China's stable economic growth, the economy generally demonstrated a steady recovery. In reliance upon China's real economy, the Group continued to adhere to the operational philosophy of "finance + industry", and achieved stable growth in overall results in spite of the complicated and ever changing macro environment.During the Review Period, the Group realized revenue of RMB17.72 billion, representing an increase of 9.46% year-on-year ("YoY"). Among which, the financial and advisory segment remained stable overall with a slight increase, accounting for 65.17% of the total income (before taxes and surcharges). Structurally, financial services maintained growth, while advisory services recorded decline. The industrial operation segment continued to record substantial growth with an increase of 21.13% YoY, accounting for over 30% of the total income (before taxes and surcharges). The profit attributable to holders of ordinary shares of the Company during the Review Period amounted to RMB2,842 million, representing an increase of 10.47% YoY, basic earnings per share reached RMB0.68, together with the return on average equity (ROE) of 13.58%, demonstrating a steady growth momentum.Financial Business Developed Steadily with Significant Growth in Industrial OperationIn the first half of 2022, with respect to market competition, focusing on market changes and customer needs, the Group continued to strengthen the practice of the concept of "model innovation", and accelerated its implementation at the level of financial services and industrial operations, so as to form differentiated advantages from strategy to tactics, thereby ensuring the healthy development of the Company in a highly uncertain environment.In terms of financial business, to address the changes in financial needs in the market, the Group took "urban upgrading and industrial private bank" as its core strategy and simultaneously promoted the strategy in four aspects, namely the industry, customer base, regions and products. At the same time, the Group continuously strengthened the operational efficiency and service coordination of inclusive finance, overseas business, PPP investment, non-performing asset management and other businesses to ensure high-quality and stable development. During the Review Period, the income (before taxes and surcharges) of the financial and advisory segment was RMB11.60 billion, representing an increase of 4.17% YoY; Income derived from financial services increased by 12.39% YoY. In particular, interest income contribution from inclusive finance, commercial factoring, PPP investment, overseas business, asset business and other new business directions amounted to RMB1,187 million, representing an increase of 35.91% YoY. Income derived from advisory services decreased by 39.23% YoY mainly due to the active adjustment and continuous optimization of the Group's service structure in response to customers' needs after changes in the external operating environment.During the Review Period, the overall asset quality of the Group remained safe and under control. The non-performing asset ratio remained at a low level of 1.06% as at 30 June 2022, which remained the same as at the end of last year.In terms of industrial operation, the Group continued to stay close to the local markets, innovated service models, strengthened operational efficiency, emphasized management effectiveness, and highlighted differentiated competitive advantages. The income of the industrial operation segment sustained continuous growth. The industrial operation segment, which comprises of Horizon Construction Development, Horizon Healthcare and others, realized a total income of RMB6,198 million, representing an increase of 21.13% YoY. Income of the industrial operation segment increased to account for 34.83% of the total income.In particular, as a leading equipment operation service provider in China, Horizon Construction Development actively expanded its business size and consolidated its competitive advantages. Horizon Construction Development realized an income of RMB3,565 million during the Review Period, representing an increase of 46.73% YoY. As a large medical group funded by social capital in China, Horizon Healthcare has been actively responding to the country's call to encourage the communities to establish hospitals and expand the supply of quality medical services, continuing its focus on areas with scarce medical resources, and building a hospital network with unique Far East characteristics. During the Review Period, Horizon Healthcare realized an income of RMB2,067 million, representing an increase of 4.05% YoY.In the first half of 2022, in the face of the complex and difficult external environment, the Group adhered to its original aspiration and followed its development vision of "vigorously building excellent enterprises", placed more emphasis on the persistence and effectiveness of value creation, and continuously created incremental value for shareholders, customers, partners and employees. In the second half of the year, the Group will reinforce its strategic focus and operational efficiency, focus closely on the real economy, use finance as the major means to provide service, enrich service forms, enhance service capabilities, strengthen strategic synergies, and connect domestic and overseas markets, so as to lay a solid foundation for the Company's sustainable development.About Far East Horizon LimitedFar East Horizon Limited is one of China's leading innovative financial companies focusing on the Chinese fundamental industries and leveraging the business model of integrating finance and industry to serve enterprises of greatest vitality with the support of the fast-growing and enormous economy in China. Based on its operational philosophy of "finance + industry", Far East Horizon endeavours to realize its vision of "Integrating global resources and promoting China's industries" by making innovations in products and services to provide our customers with tailor-made integrated operations services. Over the past more than 10 years, the Group has been leading the development of the industry, and has been listed among the Fortune China 500 and Forbes Global 2000.Over the past two decades, the Group has evolved from a single financial service company into an integrated service provider with a global vision centered on China so as to facilitate national economic and sustainable social development. With the creative integration of industrial services and financial capital and with unique advantages in the organization of resources and value added services, we provide integrated finance, investment, trade, advisory and engineering services in healthcare, cultural & tourism, engineering construction, machinery, chemical & medicine, electronic information, public consuming, transportation & logistics, urban public utility as well as other fundamental sectors.The Group, headquartered in Hong Kong, has business operations centers in Shanghai and Tianjin, and has offices in major cities throughout China such as Beijing, Shenyang, Ji'nan, Zhengzhou, Wuhan, Chengdu, Chongqing, Changsha, Shenzhen, Xi'an, Harbin, Xiamen, Kunming, Hefei, Nanning and Urumqi, forming a client service network that covers the national market. The Group has been successfully operating its multiple specialized business platforms in China and abroad in financial services, industrial investment, hospital investment and operations, equipment operation services, exquisite education, trade brokerage, management consulting, engineering services, etc.The Company was officially listed on the Main Board of The Stock Exchange of Hong Kong Limited on 30 March 2011. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Bank of Qingdao Announced its 2022 Interim Results

August 27, 2022

HONG KONG, Aug 26, 2022 - (ACN Newswire via SEAPRWire.com) - Bank of Qingdao Co., Ltd. ("Bank of Qingdao" or the "Bank"), the largest City Commercial Bank in Shandong Province, China, announced its interim results for the six months ended June 30, 2022 (the "Reporting Period").In the first half of 2022, problems such as supply chain disrupted by the epidemic and energy shortages caused by the Russia-Ukraine conflict continued to ferment and the risk of global economic "stagflation" increased. However, the Bank of Qingdao has always centering on the development vision of "Innovative Finance, Brilliant Banking", the Bank is firmly committed to the strategic goal of "being a technology-driven bank that offers new quality financial products with lean management and outstanding features", the sustainable development capacity of the Bank is constantly enhanced, and set a record against the market.The Net Profit Increased Stably Credit Assets Increased SteadilyBank of Qingdao continued optimizing the structure of asset and liability while increasing support to the real economy, and strove to expand its intermediary services. As at the end of the Reporting Period, the Company's operating income amounted to RMB6.211 billion, representing an increase of RMB884 million or 16.60% YoY. In addition, during the reporting period, total customer deposits reached about RMB 330.030 billion, an increase of 5.26%. Among them, personal deposits broke through the 120 billion mark, an increase of 3.77%.In terms of performance indicators, the company's net profit increased rapidly. During the Reporting Period, the accumulated net profit was RMB2.060 billion, representing an increase of 12.40% over the same period of last year. Net profit attributable to shareholders of the parent company amounted to RMB2.018 billion, representing a year-on-year increase of 12.28%.In terms of asset quality, Bank of Qingdao continuously strengthened the quality control of credit assets. While the credit assets grew steadily, the bank strengthening the comprehensive remediation of overdue loans, non-performing loans and other risky loans and strived to minimize the cost of each risk. The credit quality maintaining steady and promising. As at the end of the Reporting Period, the non-performing loans ratio of bank continuously stable and declining, the non-performing loans ratio decreased by 0.01 percentage point as compared with that at the end of last year to 1.33%. Provision coverage ratio was 209.07%, representing an increase of 11.65 percentage points as compared with that at the end of the previous year, further improve the ability of risk resistance.Meanwhile, Bank of Qingdao expanded its credit support for the real economy and increased its risk-weighted assets. In terms of capital replenishment, the Company raised a net capital of RMB4.154 billion through A share and H share rights issue, to supplement core tier-one capital, improve the level of capital adequacy, and further improve its capacities on risk resistance and supporting the development of the real economy. Retail bankingDuring the Reporting Period, Bank of Qingdao saw record new retail customers in a continuously optimized customer base structure, the bank held RMB276.398 billion assets of retail customers, representing an increase of RMB22.490 billion or 8.86% as compared with that at the end of the previous year. Besides, the retail strategy of the bank achieved remarkable results, retail deposits continued to grow while the payroll credit business was booming, the balance of the Bank's retail deposits amounted to RMB128.674 billion, representing an increase of RMB18.244 billion or 16.52% as compared with that at the end of the previous year, accounting for 38.99% of total customer deposits, representing an increase of 3.77 percentage points as compared with that at the end of the previous year.In terms of retail loans, Bank of Qingdao developed inclusive finance and provided loan services for individual industrial commercial households and small and micro enterprises. On the premise of meeting the regulatory requirements, it steadily developed personal housing loans and increased the proportion of Internet loans granted in the province to build its own Internet loan brand. During the Reporting Period, the Bank vigorously developed its self-operated Internet loan "Hairong Yidai" by launching "Hairong Yidai - Convenient Loans" for residents in the province and optimizing such products as "rural revitalization loan" and "easy loans for stores", thereby forming a complete sequence of self-operated Internet loan products. As at the end of the Reporting Period, the business balance from "Hairong Yidai" reached RMB169 million, representing an increase of 233.80% as compared with that at the end of the previous year.In terms of credit card business, Bank of Qingdao upheld the principle of prudent risk management for its credit card business by strengthening operational compliance and developing customer base. During the Reporting Period, the accumulated transaction amount was RMB36.921 billion, representing a year-on-year increase of 56.31%.In term of the wealth management and private banking business, Bank of Qingdao adhering to the "customer-centric and market-oriented" service philosophy, the Bank is committed to building a professional service team and implementing customer segmentation by leveraging on market opportunities, so as to improve its customer service capabilities and drove a steady increase in the number of customers and asset size. As at the end of the Reporting Period, the Bank had 53.6 thousand retail customers with assets under management of over RMB1 million, an increase of 4.1 thousand or 8.28% from the end of the previous year, for a total of RMB123.772 billion assets managed by the Bank, an increase of RMB9.812 billion or 8.61% from the end of the previous year.In term of the customer service management, warm service is the operating feature of Bank of Qingdao. The bank has always attached importance to the promotion of network services, creating industry benchmarking and delivering "BQD services". The bank closely aligning with the theme of retail business development in service management, with continuous efforts to promote service experience management, and further expanded the intension and extension of BQD service. From the earliest standardized service to the warm service and then to the current advocated value-based service, BQD services always focus on customer needs, continuously optimized and adjusted the way of service management, coordinated and formed a synergy to improve customer experience, builds a closed loop from service quality management to service experience management, creating a new advantage of value-based service management to establish its core competitiveness in user experience, thus break new ground for the service management value.Corporate bankingIn terms of corporate banking, Bank of Qingdao established a grid-based marketing system and a front-end marketing mechanism to strengthen the service support capability of the headquarters. In addition, the Bank made precise efforts to expand customer base, increased income from intermediary business and reduced capital expenditures, driving a steady growth in corporate business. Bank of Qingdao's corporate deposits gained momentum. The Bank achieved steady growth in corporate deposits by capturing policy opportunities through "headquarter-to-headquarter" marketing, reaching out to industrial customers and acquiring customers from the source in bulk. The balance of corporate deposits (excluding accrued interest) reached RMB201.246 billion, accounting for 60.98% of the balance of various deposits (excluding accrued interest). During the Reporting Period, the Bank's efforts in customer base construction gradually emerged as a driver for increased deposits, with the average daily deposits from new corporate customers increasing by RMB3.610 billion and the average daily deposits from strategic customers at headquarter level reaching RMB82.820 billion, representing an increase of RMB11.551 billion as compared with that at the end of the previous year.In terms of the corporate loans, Bank of Qingdao fully implemented the new development concept with focusing on green and low-carbon development to develop a distinctive blue-finance brand. During the Reporting Period, amid challenges from economic downturn and decline in effective demand, the Bank seized quality assets and increased its credit facilities, balance of corporate loans (including discounted bills and excluding accrued interest) amounted to RMB189.087 billion, representing an increase of RMB21.624 billion as compared with that at the end of the previous year, representing an increase of 12.91%.In terms of the corporate customers, Bank of Qingdao revolving around customers, focused on building the customer base by promoting "the basic management and grass-roots management strategy" to expand foundational customer base, and adhering to hierarchical management to optimize customer structure, so as to achieve increased number and improved quality of customers. During the Reporting Period, the Bank paid close attention to the reserve of high-quality projects, followed major national and regional strategic plans and provincial and municipal industrial development plans, and strengthened accurate marketing to listed or to-be-listed, specialized, fine, characteristic and innovative companies specializing in green finance, blue finance and carbon finance. As at the end of the Reporting Period, the total corporate customers who have opened accounts with the Bank amounted to 194.2 thousand, representing an increase of 14.5 thousand or 8.07% from the end of the previous year. As at the end of the Reporting Period, Bank of Qingdao continued to adhere to the inclusive business development policy of "serving small and micro enterprises (SMEs) based on the local economy", and to focus on the three business directions of "technological finance, agricultural finance and livelihood finance" for strengthening product innovation and improving service level, so as to support development of SMEs. Since the epidemic, the Bank has implemented the support policies of governments at all levels and regulatory authorities for SMEs by launching "Easy Loan", "Growing Loan", "e Tax Loan" and other characteristic businesses, to fully support SMEs to fight against the epidemic and resume production. As at the end of the Reporting Period, the balance of inclusive loans to SMEs amounted to RMB25.578 billion, up by RMB3.572 billion or 16.23% from the end of the previous year, higher than the growth of the Bank's all other loans.Financial Market BusinessIn terms of the financial market business, Bank of Qingdao optimized the asset structure, and adhered to the development principle of light capital to enrich investment varieties for multiple channels to increase income and profits. The Bank actively promoted the issuance of capital bonds with no fixed term to provide strong support for business development. While continuously strengthening the comprehensive strength of wealth management, the Bank continued to enrich the product portfolios to give play to marketing commission channels. In addition, the Bank gave full play to the advantages of corporate banking qualification to expand the coverage of issuance and underwriting business, which significantly improved the depth and breadth of investment banking business, and increased its brand influence year by year. Bank of Qingdao responded to regulatory orientation, focused on market changes, continued to optimize the investment structure, actively participated in market transactions, adhered to the principle of light-capitalization development, increased total assets while controlling the capital consumption ratio, strengthened the swing trading of standardized assets, and improved comprehensive profitability. As at the end of the Reporting Period, the Bank's proprietary amounted to RMB203.933 billion, representing an increase of RMB20.370 billion or 11.10% as compared with that at the end of last year. Among them, the scope of bond investment reached RMB129.986 billion, representing an increase of RMB18.077 billion or 16.15% as compared with that at the end of last year, mainly due to the increase in investment in non-financial corporate bonds, local government bonds and railway bonds; RMB40.776 billion investments in public fund products, representing an increase of RMB803 million or 2.01% as compared with that at the end of last year, mainly due to the increased investment in bond-type public funds. In terms of the Interbank business, Bank of Qingdao actively responded to the new market making rules, and obtained the qualifications as a spot bond market maker in the bond market, becoming the first city commercial bank spot bond market maker in Shandong Province. During the Reporting Period, the Bank continued to obtain the primary dealer qualification for open market business in 2022. Through reasonable pricing and continuous and stable financing, the Bank actively carried out various businesses, continuously improved the quality and comprehensive strength of interbank market transactions, and gave full play to the active role of primary dealers in the open market, contributing to the healthy and stable operation of the interbank market business.During the Reporting Period, the net value of the Bank of Qingdao wealth management products was stable, with obvious comparative advantages among peers. The Bank has established and issued industry-themed fixed-term products, with product series continuing to be enriched. According to the Ranking Report on Wealth Management Capability of Banks (2022 Q2)" released by PY Standard, BQD Wealth Management, Bank of Qingdao's wholly-owned subsidiary, ranked sixth in comprehensive wealth management capability among urban and commercial wealth management institutions. Moreover, BQD Wealth Management was awarded the Golden Honor Award for Outstanding ROI Wealth Management Companies and Golden Honor Award for Outstanding Innovative Wealth Management Companies by PY Standard again by virtue of its excellent comprehensive strength and good customer reputation, proved the Bank's external wealth management financing channel expansion achieved fruitful results, and the management scale and profitability achieved a steady increase.During the Reporting Period, the scope and of scale of investment banking business of Bank of Qingdao has been significantly improved, so did the Bank's brand influence. During the Reporting Period, the Bank recorded the best prices of many projects among those comparables, allowing the Bank to satisfy the low-cost financing needs of good large businesses with less capital, which thus increased the customer loyalty and enhanced customer relationship. Besides, the Bank seized the opportunity for issuance and achieved good performance, and therefore established its image in the bond market by virtue of its excellent comprehensive business capabilities. During the Reporting Period, the Bank ranked first in terms of both scale and number of underwritings among issuers with corporate credit of AA and AA+ in Shandong Province, shown a competitive edge in field of marketization of bond business.In the second half of 2022, China's economy will continuously recover, meanwhile, the "The 20th National Congress of the Chinese Communist Party" will be held in the second half of 2022. This is an important moment for comprehensively building a modern socialist country and marching on a new journey toward the second centenary goal, and the Shandong Province and Qingdao City will continue to promote the replacement of old growth drivers with new ones for optimisation and acceleration. The positive fiscal policy will enhance its effectiveness in all-around way, together with the supports of the stable monetary policy in its aggregate structure and the regulatory policy to stabilise growth and adjust structures, the pressure on the banking sector is expected to ease gradually. Bank of Qingdao will continue to adhere to the basic operation guiding ideology of "deep cultivation and fine operation, intensified promotion, optimized structure, and sustained development" by taking concerted efforts and actions at all levels of the Bank proactively and quickly, and seizing the market to continue the solid development momentum in the first half of the year, so as to ensure the full completion of the annual operating plan. About Bank of Qingdao Co., Ltd.Bank of Qingdao Co., Ltd. Is founded in Nov 1996, which is the first main board listed bank in Shandong Province and the second "A + H" share listed city commercial bank in China. It has ranked among the 500 top banks in the world for many consecutive years. In Dec 2015, the company was listed on the main board of the stock exchange of Hong Kong (03866.HK). In Jan 2019, the company was listed on Shenzhen Stock Exchange (002948.SZ). Bank of Qingdao mainly provides customers with services and products such as corporate and personal deposits, loans, payment and settlement. Driven by the development of retail banking, corporate banking and financial market, the bank initially formed a relatively solid customer base and explored a development path with distinctive characteristics and high quality. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Hypebeast Ltd. (0150.HK) ended the financial year with another all-time high in revenue and profitability

June 29, 2022

HONG KONG, Jun 29, 2022 - (ACN Newswire via SEAPRWire.com) - Hypebeast Limited (Stock Code: 0150.HK) is the global leading platform for contemporary culture and lifestyle, and a premier destination for editorially-driven commerce and news. The Board of Directors of Hypebeast Limited has announced the Group's annual results for the year ended 31 March 2022 ("FY2022"). -- Revenue amounted to HK$895.6 million in FY2022, up from HK$674.2 million in FY2021, representing an increase of HK$221.4 million or 32.8%.-- Gross profit margin rose by 11.7 percentage points from 49.6% in FY2021 to 61.3% in FY2022. -- The Group delivered net profit of HK$100.2 million for FY2022, a 41.9% increase compared to FY2021. The increase translated to an improvement of net profit margin by 0.7 percentage points, resulting in an increase from 10.5% in FY2021 to 11.2% in FY2022.-- Total value in signed contracts for the Media Segment increased by 31.7% during FY2022 as compared to the prior year.-- 12-month average website monthly unique visitors (number of user who requests web pages across Hypebeast, Hypebae and Popbee platforms in a month) amounted to 16.4 million, representing a 5.1% increase over FY2021, and aggregated social media following (total number of followers on all third-party social media platforms, including but not limited to Facebook, Instagram, Twitter) increased from 26.1 million as at 31 March 2021 to 32.4 million as at 31 March 2022.The Group recorded strong revenue growth in FY2022 and reported another all-time high in revenue and profitability. Revenue amounted to HK$895.6 million in FY2022, up from HK$674.2 million in FY2021, representing an increase of HK$221.4 million or 32.8%. Gross profit margin rose by 11.7 percentage points from 49.6% in FY2021 to 61.3% in FY2022. The Group delivered net profit of HK$100.2 million for FY2022, a 41.9% increase compared to FY2021. The increase translated to an improvement of net profit margin by 0.7 percentage points, resulting in an increase from 10.5% in FY2021 to 11.2% in FY2022.Demand for the Group's media and agency services remained strong, with total value in signed contracts for the Media Segment having increased by 31.7% during FY2022 as compared to the prior year. As COVID-19 pandemic's intensity wanes and pandemic-related restrictions continue to ease, the Group's events production and offline partnerships under the Media Segment have surpassed pre-COVID-19 and FY2019 levels. The Group noted increasing demand for offline campaigns and activations as global marketing spend continues to expand. 12-month average website monthly unique visitors (number of user who requests web pages across Hypebeast, Hypebae and Popbee platforms in a month) amounted to 16.4 million, representing a 5.1% increase over FY2021, and aggregated social media following (total number of followers on all third-party social media platforms, including but not limited to Facebook, Instagram, Twitter) increased from 26.1 million as at 31 March 2021 to 32.4 million as at 31 March 2022. The Group aims to attract and reach a wider user-customer base through its development of new editorial properties, such as Hypegolf that focuses on golf and lifestyle, Hypeart on art and artists, and Hypemoon on Web 3.0 projects and technologies. The Group continues to explore similar opportunities by establishing various online and offline channels and touchpoints in order to drive the Group's brand awareness and increase engagement with new and existing users and customers. The HBX physical retail shop located in Central, Hong Kong remains a strong marketing window and attraction point for customers to participate in the Hypebeast ecosystem offline. In addition, the Group's U.S. flagship store opened in June 2022 (subsequent to the reporting financial year), spanning seven floors, housing the U.S. East Coast office, the HBX New York flagship store, a Hypebeans cafee, as well as event spaces. The New York flagship store will support execution and accelerate growth of our strong North American customer base and serve as a focused point of marketing for the E-Commerce and Retail Segment. Kevin Ma, Executive Director, Chairman, and CEO of Hypebeast, said: "We have recorded yet another all-time high in revenue and profitability, showing the strategic choices made both before and during the unprecedented COVID-19 context have paid off. The FY2022 result is the best demonstration of how the Group is geographically and strategically well-positioned to continue to capture further growth opportunities. Despite today's uncertainties, we are ambitious and will continue to focus on building and strengthening all facets of Hypebeast through market expansion, category diversification, and offering an omnichannel experience through our e-commerce platform and physical stores, in particular the newly opened HBX New York flagship store."A breakdown of this year's financial highlight is as follows:FY2022 HK$'000 FY2021 HK$'000Revenue 895,632 674,212Gross Profit 549,313 334,127Gross Profit Margin 61.3% 49.6%Selling and marketing expenses (160,391) (112,791)Administration and operating expenses (202,650) (125,005)Professional fees related to the Merger (30,185) -EBITDA (Note) 174,252 122,596Net profit 100,167 70,584Net profit margin 11.2% 10.5%Earnings per share- Basic (HK cent) 4.88 3.47- Diluted (HK cent) 4.87 3.45Note: Earnings before interest, tax, depreciation and amortization ("EBITDA") is calculated as profit before tax + interest expense + depreciation + amortization expense.For further details on the Annual Results performance, visit the Group's corporate website to view the full results announcement.https://hypebeast.ltd/investorsFor investor inquiries, please contact:investors@hypebeast.com For more information, please contact:media@hypebeast.com Strategic Financial Relations LimitedVicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hkIvy Chan Tel: (852) 2864 4890 Email: ivy.chan@sprg.com.hkWebsite: https://www.sprg.asia/ About Hypebeast Ltd. (Stock Code: 0150.HK)Hypebeast is a leading global platform for contemporary culture and lifestyle, and a premier destination for editorially-driven commerce and content. Founded in 2005, it became a publicly listed media company in 2016 and today boasts a global readership across North America, Asia Pacific, Europe and more. The Group has expanded its publishing brands to a wider scope in recent years, encompassing Hypebeast and its multiple content distribution platforms, e-commerce and physical store HBX, and agency Hypemaker. For more information, please visit www.hypebeast.ltd. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)