Author: Durian

Results Highlights:- Revenue and net profit reached US$78.9 million and US$18.8 million, respectively.- APAC market revenue grew significantly by 31.0%, driven by both organic growth and contributions from SJ Medicare and PT Revass, the South Korean and Indonesian distributors acquired in Q4 2023.- Total sales volume of proprietary products remained at 717,000 units.- In 1H2024, the Group made extensive efforts to integrate eucatech AG, a German company acquired last year, into its operations and reorganize its production lines, and expects eucatech AG to resume production and shipment in Q3.- The Group has been actively registering products of eucatech AG in various countries and regions, and eucaLimus, a coronary drug eluting stent, has already received registration approval in Malaysia.- For the clinical studies of TricValve, patient enrollment has commenced in 13 hospitals in the PRC. In Japan, the Group is working closely with the Pharmaceuticals and Medical Devices Agency (“PMDA”) and the US Food and Drug Administration (“FDA”) to prepare for the clinical trial and registration process.- In May 2024, the Group engaged the main contractor for its largest R&D and manufacturing facility in Hangzhou, which is expected to begin operation in 2027, adding an annual production capacity of 2.4 million product units upon commencement of production.- The Group’s financial position remained strong, as evidenced by the cash and bank balances of US$246.7 million as of June 30, 2024.- The Group expects to maintain a stable dividend policy, demonstrating its confidence in future prospects.HONG KONG, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - OrbusNeich Medical Group Holdings Limited (“OrbusNeich” or the “Group”; stock code: 6929), a major global medical device manufacturer specializing in interventional devices for percutaneous coronary intervention (“PCI”) and percutaneous transluminal angioplasty (“PTA”) procedures, today announced its interim results for the six months ended June 30, 2024 (the “Reporting Period”), with revenue and profit for the period attributable to owners of the Company maintained at US$78.9 million and US$18.8 million respectively despite various market challenges.Mr. David Chien, Chairman, Executive Director and Chief Executive Officer of OrbusNeich, said, “The global economy has been highly volatile in recent years, as a result of factors such as geopolitical tensions and major central banks shifting their monetary policies. Albeit the challenging external environment, we were able to seize the opportunity to implement a series of measures to enhance operational efficiency and integrate the businesses of SJ Medicare, PT Revass and eucatech AG acquired last year into our Group. We believe the investments made in the first half year are crucial to supporting our future sustainable growth.”For the Reporting Period, the Group’s revenue decreased slightly by 3.1% to US$78.9 million, mainly attributable to decline in sales volume in the US due to integration of Cardiovascular Systems, Inc. (“CSI”) into Abbott Laboratories (“Abbott”), and in the PRC market due to on-going impact of anti-corruption campaign, as well as the Group’s termination of distribution of certain third-party products, despite the significant sales growth recorded in APAC, as well as the modest revenue growth in Japan in terms of Japanese Yen. Excluding the impact of the foreign exchange fluctuations, total revenue would have recorded a slight year-on-year increase of 0.6%. Gross profit amounted to US$55.8 million while gross profit margin stood at 70.7%.Despite the decline in revenue and the short-term increase in expenses incurred by the Group’s series of measures to enhance operational efficiency and integrate the businesses acquired in the previous year, the Group maintained a healthy level of net profit for the first half of 2024. It is worth noting that, excluding the operating expenses of the newly acquired businesses, the three core operating expenses, namely selling and distribution expenses, general and administrative expenses and research and development expenses, for the first half of 2024, remained flat against the same period last year. As of June 30, 2024, the Group maintained a strong financial position with cash and bank balances of approximately US$246.7 million, laying a solid foundation to support its growth objective.Robust Balloon Sales in APAC and EMEAThe Group’s proprietary balloon products continued to gain traction worldwide. In the first half of 2024, revenue from the APAC market saw organic growth of a marked 8.6% year-on-year, thanks to strong balloon sales growth in markets such as Malaysia, Hong Kong, India, Vietnam and Singapore. Particularly, the latest generation of scoring balloon, Scoreflex TRIO, recorded a rapid rise in sales since it was launched in Malaysia in early 2024. Together with the additional contribution of US$4.3 million from the SJ Medicare and PT Revass, distributors acquired in South Korea and Indonesia respectively in Q4 2023, the revenue generated from APAC amounted to a total of US$24.0 million, representing a significant increase of 31.0% year-on-year.In addition, mainly attributable to the increase in sales of the Group’s proprietary balloon products in direct sales markets such as Germany, France and Spain, as well as distributor sales markets including Czech Republic and Slovakia, revenue generated from EMEA slightly increased by 1.3% to US$19.2 million, even being partly offset by the termination of distribution agreement with CSI for atherectomy products.During the first half of 2024, Scoreflex TRIO continued to drive revenue generated from Japan, the Group’s largest single-country market, in terms of Japanese Yen, achieving an 8.1% increase year-on-year.Integrating Newly Acquired Business to Drive Future GrowthFollowing the acquisition of eucatech AG in November 2023, extensive efforts were made to integrate eucatech AG into the Group’s operation and reorganize production lines. The Group has been actively registering eucatech AG’s four products, namely eucaLimus, Support C, Resistant, and VITUS, in various countries and regions to avail those products via the Group’s own sales network to physicians and patients in different markets. In the first half of 2024, eucaLimus was granted registration approval in Malaysia, one of the Group’s direct sales markets. Registration applications for eucatech AG’s products have also been submitted to relevant regulatory bodies in Hong Kong, Malaysia, Switzerland, Italy and Saudi Arabia and are pending approval. The Group also promoted eucatech AG’s products at major conferences including EuroPCR, as well as educated distributors about these offerings so that sales could be ramped up smoothly once the products become available.In April 2024, the Group supported eucatech AG’s on-site Medical Device Directive (“MDD”) and Medical Device Regulation (“MDR”) surveillance audit, as such, was able to extend the CE Mark expiration dates for their 4 products under the MDD framework. All these efforts are expected to see eucatech AG resume production and shipment in the third quarter of the year.Relentless Drive to Translate Innovations into Thriving Product LinesAs of June 30, 2024, OrbusNeich had an aggregate of over 50 approved products. The Group has maintained a steadfast commitment to translating its R&D efforts into commercially successful products. To date, the Group achieved major milestones, including:- Obtaining NMPA approval for Teleport Neuro, FDA approval for Teleport XT and JADE PLUS 14/18/35 OTW, CE Mark for Sapphire ULTRA and Sapphire NC ULTRA;- Submission of registration applications to the NMPA for its Guiding Catheter;- Completion of the clinical trial patient enrollment for Scoreflex TRIO in the PRC, with the NMPA application expected to be submitted in Q3 2024;- Preparation for the Sapphire 3 clinical trial in the US, with enrollment scheduled to begin in Q3 2024.Alongside these regulatory and commercialization efforts, the Group continued to invest in new pipeline products, such as the Corepass modular microcatheter, support catheter and the JADE Plus. Registration applications for these innovative offerings are planned for submission to various authorities in 2024.Meanwhile, the joint venture OrbusNeich P&F made significant efforts to advance the clinical studies of TricValve in two major Asia Pacific markets. Patient enrollment has commenced in the PRC for its clinical trial, and the clinical trial and registration process in Japan is being prepared in close collaboration with the PMDA and the FDA.Boosting Production Capacity through Rigorous Quality Processes and Operational ExcellenceThe Group has always prioritized product quality, which is ensured by a robust quality management system. During the Reporting Period, various sites successfully passed audits conducted by various regulatory and notifying bodies. Furthermore, the Group remains committed to enhancing operational efficiency and reducing production costs by continually optimizing manufacturing processes, work-in-progress inventory levels, and employee productivity. To meet future production needs, the Group will construct its largest R&D and manufacturing facility in Hangzhou, the PRC, for which it engaged the main contractor in May 2024 and which is expected to begin operation in 2027, adding an annual production capacity of 2.4 million units of products upon commencement of production.Mr. Chien concluded: “Looking ahead, as new sales strategies are being executed in the PRC and the US markets, we expect these key geographies will regain growth momentum in second half of the year. Meanwhile, OrbusNeich has maintained active efforts to expand our market presence. On the product front, we are leveraging our comprehensive sales network and brand recognition to market innovative endovascular intervention products to enhance the solutions we provide to the physicians. New products from eucatech AG which is expected to resume production soon will also contribute to improved profitability. We are also actively identifying M&A opportunities that align with our strategic priorities and position us for sustainable growth. Despite the first-half headwinds, we remain optimistic about restoring growth momentum soon and expect to maintain a stable dividend policy for shareholders based on our robust financial position.”- End -About OrbusNeich Medical Group Holdings LimitedOrbusNeich is a major global medical device manufacturer specializing in interventional devices for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures. Headquartered in Hong Kong, China, OrbusNeich sells its products in more than 70 countries and regions worldwide. It is also actively expanding into neuro vascular intervention and structural heart disease. As of June 30, 2024, OrbusNeich has more than 230 granted patents and published patent applications worldwide. Its in-house R&D team has more than two decades of product development experience and has developed world-leading proprietary technologies.For more information, please visit the Group’s official website: https://orbusneich.com/. Copyright 2024 ACN Newswire via SeaPRwire.com.

BRISBANE, AUS, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - CISO FSI ANZ 2024 invites cybersecurity professionals in the Financial Services Industry to join this free virtual event designed to inspire and share intelligence. The online gathering will cover everything from cyber strategy, risk management, governance, program and incident management, leadership, to enabling business growth.CISO FSI ANZ offers a unique opportunity to expand your knowledge and find ways to avoid cyber threats in the FSI industry. Benchmark your strategies with peers and learn how to get buy-in and collaboration in your projects across the board.Key topics include:Strategies to advance your company’s cyber security maturity modelsHow to align cyber risk management with the company's goalsComplying with APRA regulations in Australia and MBIE in New ZealandThe impacts of the privacy act reform in information securitySuccessful practices to mitigate the increase of third-party risksBridging the talent gap by investing in culture, education and trainingNavigating the “AI high” by leveraging its benefits while minimising its risksCISO FSI ANZ is an essential online event for those looking to advance their knowledge and network within the cybersecurity community. Join us on 12 September 2024 at 10 AM AEDT or 12 PM NZT.It’s free! Register now: https://bit.ly/4dpyOUYVisit website: https://ciso-fsi-anz.coriniumintelligence.com/About Corinium IntelligenceCorinium Intelligence is a global leader in providing conferences, events, and content to the information and technology industries. With a focus on fostering collaboration and innovation, Corinium Intelligence brings together industry leaders to share insights, best practices, and strategies for success.Media Contact:Claudia Peixoto, Marketing Managerclaudia.peixoto@coriniumgroup.com Copyright 2024 ACN Newswire via SeaPRwire.com.

CANBERA, AUSTRALIA, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - CISO Canberra invites cyber security professionals to explore the critical role of public sector cyber security in protecting the public and driving transformative leadership strategies for delivering the 2023-2030 Australian Cyber Security Strategy.The tech demo exhibition will showcase cutting-edge services and innovations driving change in the cybersecurity landscape. InfoSec leaders will share their strategic insights in no-nonsense talks, providing valuable substance over empty rhetoric.Key themes include:STRENGTH IN UNITY: Building robust shields against cyber threats by navigating the 2023-2030 Australian Cyber Security Strategy to be the most secured nation.AWARENESS, EMPOWERMENT, & COORDINATION: Maturing cyber security culture through collective responsibility and collaborative efforts for enhanced resilience.PROACTIVE GRC MANAGEMENT: Integrating Zero Trust and evaluating risks in supply chains, data and AI to empower decision making at the pace of innovation.MODERNISING THREAT DETECTION & RESPONSE: Embracing cutting-edge technologies and strategies to advance security, integrity and resilience capabilities.CISO Canberra 2024 is an essential event for those looking to advance their knowledge and network within the cybersecurity community. Join us at the Canberra Rex Hotel on 14 November 2024 for an event that promises to inspire and empower.Use the code ACNNEWS20 for 20% off the ticket price.Register here: https://bit.ly/4dqzPfbVisit website: https://ciso-bris.coriniumintelligence.com/ About Corinium IntelligenceCorinium Intelligence is a global leader in providing conferences, events, and content to the information and technology industries. With a focus on fostering collaboration and innovation, Corinium Intelligence brings together industry leaders to share insights, best practices, and strategies for success.Media Contact:Claudia Peixoto, Marketing Managerclaudia.peixoto@coriniumgroup.com Copyright 2024 ACN Newswire via SeaPRwire.com.

SHENZHEN, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - On August 15, 2024, China Medical System Holdings Limited (“CMS” or the “Company”) released its 2024 interim results announcement, with a steady increase in overall revenue and profit for the period compared to the second half (2H) of 2023. In the first half (1H) of 2024, the Company recorded a turnover of RMB3,611.1 million, representing a decrease of 21.7% compared with 1H 2023, an increase of 6.1% compared with 2H 2023. In the case that all medicines were directly sold by the Company, the turnover was RMB4,287.5 million, representing a decrease of 22.6% compared with 1H 2023, an increase of 8.9% compared with 2H 2023; Among which, the total revenue of non-National VBP exclusive products and innovative products was RMB2,404.7 million, accounting for 56.1% of CMS’s revenue in the case that all medicines were directly sold by the Company. Profit for the period was RMB903.4 million, representing a decrease of 52.8% compared with 1H 2023, a substantial increase of 92.8% compared with 2H 2023.The year 2024, not only marks the first year of the commercialization of CMS’s innovative products, but also a crucial point for the release of National Volume Based Procurement (“National VBP”) impact on its financial performance. Deanxit entered the seventh batch of National VBP in November 2022, Plendil and Ursofalk entered the eighth batch of National VBP in July 2023, and none of the three original drugs were selected, which had a negative impact on the Company’s business performance. In 1H 2024, the Company’s overall performance showed a growth trend compared with 2H 2023, indicating that CMS has basically digested the impact of National VBP and successfully entered the "New Product Era" where non-national VBP exclusive products and innovative products drive its growth.With the approval for marketing of LUMEBLUE (Methylthioninium Chloride Enteric-coated Sustained-release Tablets) in June and METOJECT (Methotrexate Injection)’s additional indication of active rheumatoid arthritis (RA) in adults in July this year, CMS's innovative drug portfolio in the commercialization stage has expanded into 5 products (including 6 indications); simultaneously with a rich and differentiated innovative pipeline reserve. Gathering the power of innovation and riding the momentum of development, CMS is comprehensively shaping new drivers for development with a healthier product structure, further opening up a new cycle of quality development.The "Collaborative and In-house" dual-engine R&D model drives the simultaneous improvement in quantity and quality of the pipeline, accelerating the transformation of innovative biotechnologyA profound innovative drug R&D pipeline is an important driving force for the long-term development of CMS. The Company adheres to the purpose of innovation for meeting the unmet clinical needs and solving the difficulties of patient medication, and promotes innovation development through a two-wheel drive of “Collaborative R&D and In-house R&D”, continuously deploying FIC (first-in-class) and BIC (best-in-class) innovative products, and enhancing the capabilities and efficiency of research and clinical development to achieve a rapid transformation of scientific outcomes into social and commercial values.As of now, CMS's innovative product portfolio approved for marketing in China has been expanded into 5 products (including 6 indications), among which, 4 innovative drugs (VALTOCO, ILUMETRI, METOJECT - psoriasis indication, VELPHORO) have been included in the National Reimbursement Drug List (NRDL) and entered large-scale clinical application; also, CMS newly added LUMEBLUE and METOJECT (RA), for being approved for marketing in China recently.CMS has also steadily advanced the clinical development of innovative products. Currently, Desidustat Tablets is under NDA review in China; Also, a total of about 10 projects have been prepared/launched for their registrational clinical trials, mainly randomized controlled trials (RCT).At the same time, the Company had continued to strengthen basic research and independent innovation capabilities, and successfully promoted more than 10 in-house R&D projects, among which, three innovative drugs (VEGFA/ANG2 Tetravalent Bispecific Antibody, Highly Selective TYK2 Inhibitor CMS-D001 Tablets, and GnRH Receptor Antagonist CMS-D002 Capsules) have entered the clinical development stage.In addition, the Company’s innovative pipeline has continued to expand. CMS Skinhealth collaborated with Incyte once again, and has obtained exclusive license to research, develop, register and commercialize povorcitinib, a selective oral small-molecule JAK1 inhibitor, in countries/territories including Mainland China, Hong Kong, Macau, Taiwan Region and 11 Southeast Asian countries. This further enriched the product portfolio of CMS Skinhealth in the treatment of vitiligo and other immune-mediated dermatology diseases.Subsequently, CMS will continue to produce innovative products with higher efficiency and more controllable costs every year, accelerating the release of innovative value and embracing quality and sustainable performance growth through a healthy product structure dominated by non-National VBP exclusive products and innovative products.Successful commercialization system releases the clinical value of innovative products in an efficient and collaborative mannerAfter 32 years of deep cultivation in specialty therapeutical fields, successful commercialization capability is one of CMS’s core competitiveness. By continuously reinforcing and integrating its commercialization platform, it has achieved in-depth development of its three major business segments including cardio-cerebrovascular/gastroenterology, dermatology, and ophthalmology, and expanded its boundaries in related fields. Additionally, the Company established a highly qualified, professional promotion team with strong execution, as well as extensive channel and resource coverage, which has laid a solid foundation for the rapid market entry and brand building of its innovative products.Four innovative drugs of CMS have entered large-scale clinical applications, covering various disease fields such as central nervous system, dermatology, nephrology, and gastroenterology, and developed synergistically with the existing marketed products in promotion team and channels. Meanwhile, leveraging on the opportunity of being included in the NRDL, CMS is advancing hospital development, brand building, real world studies and medically-driven academic promotion. CMS is improving patients’ accessibility to innovative drugs with the help of patient aid and disease knowledge popularization programs, promoting the release of products’ clinical value.The Dermatology and Medical Aesthetic Business "CMS Skinhealth" regards dermatology prescription products as its core, and extends to light medical aesthetic products and dermatology-grade skincare products, continuously improving the construction of a full life-cycle skin-health management platform covering dermatological treatment, skincare, and medical aesthetics through internal development and external collaboration. In terms of clinical development of dermatology prescription drugs, CMS has completed the Pivotal Real World Study for ruxolibinib cream in vitiligo, and is advancing the registration application process in Mainland China. At the same time, it has continuously complemented the regenerative light medical aesthetic portfolio, among which the China’s medical device registration application of the Poly-L-lactic Acid Microparticle Filler Injection has been accepted by the NMPA during the Reporting Period; and the Company has newly obtained exclusive licenses of three regenerative light medical aesthetic products (Polycaprolactone Microsphere Gel for Injection, Calcium Hydroxylapatite Microsphere Gel for Injection, and Decellularized Extracellular Matrix Implant), which are currently under the registrational clinical trial stage in China.The results announcement shows that, as of the end of June, the promotion network of CMS has covered over 55,000 hospitals and medical institutions, and approximately 280 thousand retail pharmacies in China.Leveraging the accumulated advantages in cardio-cerebrovascular, gastroenterology, central nervous system, nephrology, ophthalmology, dermatology and other specialty therapeutical fields, CMS steadily releases the scale effect of its specialty businesses, and builds high competition barriers, creating broad commercial potential for its innovative products and exclusive products.Drawing up the internationalization layout to gather momentum for the incremental marketIntegrating the advantageous resources of the Company, its Southeast Asia business “Rxilient Health”, shares and expands the successful experience of CMS gained from the China market, as well as global quality products and innovative technological resources, into the Southeast Asia market. This accelerates the improvement of the platform integrating “R&D, manufacture, and commercialization” of the Southeast Asia business, empowering Chinese and global pharmaceutical companies to implement the “overseas development” strategy, and also opening up a larger space for incremental development opportunities for CMS.As of the end of June, Rxilient Health has established a competitive product portfolio with more than ten differentiated products, covering therapeutic areas such as oncology, central nervous system, autoimmune, dermatology, and ophthalmology, etc. Rxilient Health is accelerating the relevant work on the market registration processes in Southeast Asian countries for innovative pipeline products, such as ruxolitinib cream, Methylthioninium Chloride Enteric-coated Sustained-release Tablets, and Diazepam Nasal Spray, etc. Furthermore, Rxilient Health collaborated with Junshi Biosciences to promote the registration process of toripalimab (anti-PD-1 monoclonal antibody) in multiple countries in Southeast Asia, aiming to benefit local cancer patients as soon as possible.In December last year, the Company and Rxilient Health joined hands with Pharmaron and other partners to complete the purchase of the Singapore manufacturing plant. This year, all relevant parties have been orderly advancing a series of work for the Singapore manufacturing plant, including equipment testing, quality verification, and production quality system certification, etc., so as to accelerate the CDMO business development, and to optimize the Company’s overseas supply chain and manufacturing capabilities. The business layout will further facilitate more inter-industry cooperation between CMS and global partners in the future, thus jointly building a win-win medical innovation ecosystem with mutual benefits.ConclusionSince its establishment in 1992, CMS has followed the development pattern of the industry and has promoted three significant strategic transformations successfully with a forward-looking vision. The Company started as an agent of imported original drugs, gradually developed to control the rights of original/exclusive products, and then achieved a comprehensive innovative transformation. Each step of the transformation is in sync with the industry development trends. CMS steadily aims towards the ultimate goal, and constantly builds up its strength and resilience to persist through the industry development cycle. With the gradual release of the impact of national VBP on its financial performance, CMS has been transforming into a brand-new company. While embracing the innovation achievements in each stage, CMS is fully prepared for a sustainable and healthier development in the future.About CMSCMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet medical needs.CMS focuses on the global first-in-class (FIC) and best-in-class (BIC) innovative products, and efficiently promotes the clinical research, development and commercialization of innovative products, enabling the continuous transformation of scientific research into clinical practices to benefit patients.CMS deeply engages in several specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to promote the in-depth development of its advantageous specialty fields and expand business boundaries. While strengthening the competitiveness of the cardio-cerebrovascular/gastroenterology business, CMS independently operates its dermatology and medical aesthetics business, and ophthalmology business, aiming to gain leading positions in specialty therapeutic fields, whilst enhancing the scale and efficiency. At the same time, CMS has expanded its business territory to the Southeast Asian market, striving to become a "bridgehead" for global pharmaceutical companies to enter the Southeast Asian market, further escorting the sustainable and healthy development of the Group.CMS Disclaimer and Forward-Looking StatementsThis press release is not intended to promote any products to you and is not for advertising purposes. This press release does not recommend any drugs, medical devices and/or indications. If you want to know more about the diagnosis and treatment of specific diseases, please follow the opinions or guidance of your doctor or other medical and health professionals. Any treatment-related decisions made by healthcare professionals should be based on the patient’s specific circumstances and in accordance with the drug package insert.This press release which has been prepared by CMS does not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in connection with any contract or binding commitment whatsoever. This press release has been prepared by CMS based on information and data which it considers reliable, but CMS makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this press release. Certain matters discussed in this press release may contain statements regarding the Group’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Group and the Company is not responsible for such third-party statements and projections.Media ContactChina Medical System Holdings Ltd.CMS Investor RelationsEmail: ir@cms.net.cnWebsite: https://web.cms.net.cn/en/home/Source: China Medical System Holdings Ltd. Copyright 2024 ACN Newswire via SeaPRwire.com.

FINANCIAL HIGHLIGHTS- In the first half of the year, the Group recorded the following operating results: – Revenue rose by 2.3% to RMB14,345 million; gross profit margin rose by 1.6 percentage points to 50.4% – Net operating cash inflow increased by 40.6% to RMB2,730 million – Net profit attributable to equity holders of the Company was RMB1,952 million with net profit margin of 13.6%, and EBITDA margin was 24.0%- Working capital remained at a healthy level: – The percentage of gross average working capital to revenue was 7.1% – The cash conversion cycle was 31 days, representing an increase of 1 day as compared to the same period last year- The Board resolved to declare an interim dividend of RMB37.75 cents per ordinary share of the Company issued or to be issued upon conversion of convertible securities for the six months ended 30 June 2024.OPERATIONAL HIGHLIGHTS- The retail sell-through for the overall platform decreased by low-single-digit, including online and offline channels- Channel inventory increased by mid-single-digit comparing to the same period last year. The inventory turnover and ageing structure remained at a healthy level- Offline channel new product sell-through decreased by mid-single-digitHONG KONG, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - Li Ning Company Limited (stock codes: 2331 (HKD counter) and 82331 (RMB counter)) announces today its 2024 interim results for the six months ended 30 June 2024.Financial ResultsIn the first half of 2024, China’s economy demonstrated an orderly recovery, with favorable national policies continuously injecting vitality into the market. Against the backdrop of the rising public health awareness, numerous international and national events have spurred public’s enthusiasm for sports. Currently, overall consumer confidence still has room for recovery, and the market is in a gradual and positive adjustment phase.Leveraging the brand’s professional sports background, the Group maximizes its insights into the sports industry, understanding of sports categories, and technological innovation capabilities, concentrating on five core categories of running, basketball, fitness, badminton, and sports casual during the Reporting Period. Through continuous research and development (“R&D”) investment and technological innovation, the Group consistently enhances product capabilities, optimizes consumer experience, and ensures sustainable development in the long run while expanding the Group’s business.In the first half of 2024, the Group’s overall performance remained stable with pragmatic growth. During the Reporting Period, revenue amounted to RMB14,345 million, representing an increase of 2.3% as compared to the corresponding period of 2023 (2023 H1: RMB14,019 million). Gross profit increased by 5.8% from RMB 6,839 million in the same period of 2023 to RMB 7,236 million, and the overall gross profit margin was 50.4% (2023 H1:48.8%), the gross profit margin increased by 1.6 percentage points as compared to the corresponding period of last year. Basic earnings per share was RMB75.80 cents (2023 H1: RMB80.63 cents). The Board resolved to declare an interim dividend of RMB37.75 cents (2023 H1: RMB36.20 cents) per ordinary share of the Company issued or to be issued upon conversion of convertible securities for the six months ended 30 June 2024. The interim dividend payout ratio is 50%.In terms of cash flow management, the Group's net cash generated from operating activities during the Reporting Period amounted to RMB2,730 million (2023 H1: RMB1,942 million). As at 30 June 2024, cash and cash equivalents (including cash at banks and in hand, and fixed term deposits with original maturity of no more than three months) amounted to RMB6,147 million, representing a net increase of RMB703 million, as compared with the position as at 31 December 2023. Adding back the amount recorded as fixed-term deposits held at banks, cash balance amounted to RMB17,558 million, which represented a net decrease of RMB417 million as compared to 31 December 2023. During the period, revenue increased year-on-year while the efficiency of settlement remained stable, which, in conjunction with the reasonable purchase and payment plan, contributed to the year-on-year increase in net cash generated from operating activities. The Group will continue to place extra emphasis on its cash flow management to ensure stable development of the Group in the long run.Operational SummaryDuring the Reporting Period, the Group adhered to the core strategy of “Single Brand, Multi-categories, Diversified Channels” focusing on seven major business transformation tracks and continuously strengthening its sports genes to establish a clear professional sports brand positioning. Meanwhile, the Group was efficiently empowered in supply chain management, logistics platform, channel expansion and store upgrading, jointly building a solid foundation for the overall sales of the Group.In terms of technological innovation, in May 2024, the Group successfully held a technology conference with the theme of “In My Name, Tech LI-NING” , which demonstrated that the Group has built two key pillars of product development and innovation consisting of technology R&D and sports science research through long-term accumulation of technological innovation. At the conference, the Group presented its six innovative technologies of “Carbon Core” , “Dual-Stage Assist Curves”, “Super Jiang” , “GCU”, “Super BOOM” and “Extreme Boom Fiber” , and also unveiled three new innovations for the first time: the running shoes of “Shadow 3”, the premium racing shoes of “Dragonflight” and dual-vent nanotechnology for rainstorm protection.In terms of professional products and marketing, the Group continued to focus on the five core categories of running, basketball, badminton, fitness and sports casual, and continued to make efforts in the innovation in sports technology. At the same time, the Group also actively integrated with sports fashion culture, launched sports products with both technology and fashion attributes and continuously enhanced the core competitiveness of products. In addition, the Group actively deployed universal marketing to enhance consumers’ awareness of the Group’s products, continuously enhance brand influence and expand its consumer base.In the midst of a great year for sports, the Group launched a campaign theme “In My Name” , to encourage everyone to engage in sports activities and create their own highlight moments. Through delivering the brand proposition and spirit and telling stories of the athletes from the national gold medal team, top athletes in various categories and sports KOLs, as well as overall demonstrating Li Ning’s technological strength, launching theme series products and creating atmosphere for themes at stores, the Group reinforces the professional brand image of LI-NING, realizes the whole chain from brand proposition to product experience, and deeply connects the brand with each consumer.In terms of supply chain management, the Group constructed an all-round and high-efficiency supply chain ecosystem. It not only deeply explored and expanded high-quality supplier resources for high-end sports and outdoor products to form a strong supplier matrix, but also flexibly responded to market changes with a flexible supply strategy as the core.In terms of logistics management, the Group adopted refined logistics plan management, customized strategies based on the characteristics of the business divisions, and optimized the process of goods warehousing and delivery. Meanwhile, the logistics informationization platform empowered distributors to share information in real time, improved the efficiency of store distribution, and further improved the quality of logistics services.In terms of channel expansion and image upgrading, the Group actively optimized its channel layout, consolidated and expanded its competitive advantage in the high-end market by closing low-efficiency stores and strengthening the renovation and expansion of premium stores. Meanwhile, the active development of emerging markets, the new upgrading of the 9th generation stores, and the successful establishment of premium outlets further enhanced the brand image and market influence. In order to create an immersive experience of key events, 4,238 stores introduced key visual display designs featuring “In My Name” themes and core sports resources in the first half of the year, further enhancing consumers’ visual experience and brand awareness.As of 30 June 2024, the number of conventional stores, flagship stores, China LI-NING stores, LI-NING 1990 stores, factory outlets and brand stores under LI-NING brand (including LI-NING Core Brand and LI-NING YOUNG) amounted to 7,677, representing a net increase of 9 Point-of-sale (“POS”) as compared to 31 December 2023. The number of distributors was 44 (including sales channels of China LI-NING stores), representing a net decrease of 2 as compared to 31 December 2023, demonstrating the Group’s precision and efficiency in channel layout.In terms of retail operation, in the first half of the year, the Group deepened the innovation and practice of the single-store operating model to effectively promote the comprehensive implementation of retail operation standards. The store management efficiency has been significantly improved through the comprehensive promotion of its retail end sales planning system and the implementation of the system in core stores.In terms of new retail business, the Group strengthened community operations and content creation through digital transformation to achieve efficient conversion of private traffic, effectively improving sales and conversion efficiency. In addition, the Group actively explored diversified business models, including attracting traffic through social platforms such as Douyin and online business cooperation with core channels, constantly injecting new momentum into store sales, increasing the proportion of out-of-store sales in stores, and further enhancing the operating efficiency of stores.In respect of the e-commerce operation, the e-commerce of Li Ning continued to focus on breakthroughs in professional functional products, especially achieving rapid growth in the field of running shoes, while professional basketball shoe products also consolidated its market leading position. In addition, in terms of online exclusive IP, the Group has successfully created a number of IP that have gained volume and reputation in the industry. During the period, the Group achieved synergistic growth of e-commerce business and retail operation through effective integration and innovative practices across online and offline channels, driving a significant increase in sales performance and further strengthening of market share.In terms of kidswear business, LI-NING YOUNG comprehensively streamlined the youth product matrix, clarified the core competitiveness of clothing and accessories, and improved the footwear product matrix. For marketing, LI-NING YOUNG consolidated its marketing resources and actively explored omni-channel marketing and community operation. By actively cooperating with basketball star Wade to further increase the brand influence. LI-NING YOUNG also actively actively carried out various member community activities and launched new celebrity athlete in-store opening activities to continuously drive store traffic. As at 30 June 2024, the total number of LI-NING YOUNG POS in China amounted to 1,438, representing a net increase of 33 POS since the end of the previous quarter and a net increase of 10 POS since the beginning of this year. The Group will continue to intensely develop its LI-NING YOUNG business, take a product focused approach to upgrade core product technology and design, advance the exploration of market demands and product categorization and strengthen brand promotion, so as to develop LI-NING YOUNG into a leading professional sportswear brand for kids in China.OutlookThe Group will continue to practice its core strategy of “Single Brand, Multi-categories, Diversified Channels”, persistently strengthen its product capabilities and integrate its operational resources to propel the Group towards stable and enduring growth by leveraging the organizational capability as an efficient corporation:– Develop the fundamental business with stability. The Group will continue to amplify the market influence of the LI-NING brand, focusing on the development of its five core categories including running, basketball, fitness, badminton and sports casual. Through investment in research, development and innovation, the Group will achieve continuous upgrading of its product matrix to meet the growing consumer demand for high-quality and personalized sports equipment, thereby reinforcing and expanding the Group’s market leading position in core areas.– Optimize and upgrade the product structure. The Group will further upgrade its diversified product matrix under the single-brand strategy, aligning with the evolving market trends and consumer preferences. By fully leveraging the complementary functions of “China LI-NING” and “LI-NING 1990” in the sports casual sector, and expanding multiple dressing scenarios, the Group will enhance the competitiveness of its brands in diverse scenarios.– Look to the future and seize opportunities to make a breakthrough. The Group will actively explore breakthroughs and take the lead in entering new tracks in sports consumption. By tapping into the huge potential of the women’s, outdoor and youth markets, formulating targeted marketing strategies and launching products that meet the needs of the target groups, the Group aims to make breakthroughs in these new areas.– Optimize market expansion strategy. To achieve comprehensive market coverage, the Group will optimize the allocation of resources to existing high-level markets to improve market efficiency. Concurrently, by actively exploring emerging markets and formulating strategies for overseas markets, the Group strives to achieve significant breakthroughs in overseas markets while keeping a steady and sustainable momentum.Mr. Li Ning, Executive Chairman and Joint CEO of the Group, concluded, “The country's series of in-depth market reform policies will steadily advance, providing the Group with a fair and more vibrant market environment, and opening up broader growth space. The Group will adhere to its established development strategy, rely on the professional sports genes of its brands and continue to launch high-quality sporting products for the public. At the same time, the Group will continue to cultivate the sports market in China, and ride the wave of the Olympics, upholding the spirit of ‘Anything is Possible’, to propel the Chinese sports industry onto the international stage.”- END -About the GroupLi Ning Company Limited is one of the leading sports brand companies in China, mainly operating professional and leisure footwear, apparel, equipment and accessories under the LI-NING brand. Headquartered in Beijing, the Group has brand marketing, research and development, design, manufacturing, distribution and retail capabilities. It has established an extensive retail distribution network and supply chain management system in China. The Group is committed to be the most prominent, stylish, world-leading sports brand from China.In addition to its core LI-NING brand, the Group also manufactures, develops, markets, distributes, sells various sports products which are selfowned by or licensed to the Group, including Double Happiness (table tennis), AIGLE (outdoor sports), Danskin (fashionable fitness products for dance and yoga) and Kason (badminton), which are operated through joint venture/associate with third parties of the Group. Copyright 2024 ACN Newswire via SeaPRwire.com.

MANILA, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - Darwinbox, a global leader in providing end-to-end Human Resources Management Systems (HRMS), has significantly transformed the operations of Security Bank Corporation, one of the largest private domestic universal banks in the Philippines and its subsidiaries.This comes as Darwinbox continues to enhance the HR landscape in the Philippines by helping companies optimize their human resources (HR) and improve overall operational efficiency.Security Bank EVP and Chief People Officer, Nerissa Berba, said that Darwinbox, a new-age, enterprise-ready Human Capital Management (HCM) platform, optimized the bank's processes, reduced manual tasks, and enhanced efficiency with streamlined workflows.Security Bank has already observed significant enhancements in its HR processes thanks to Darwinbox. To date, it has automated close to 90 per cent of HR processes, leading to a 67 per cent increase in HR operational efficiency within the first year, which exceeded the initial projection of 30 per cent. Consequently, this has allowed for a 30 per cent improvement in report generation speed and a 75 per cent reduction in the time taken for performance administration ensuring full compliance with policies.Berba further said that Darwinbox met all the bank’s HCM requirements. First, the entire employee lifecycle, from hire-to-retire, can be managed within Darwinbox, allowing the bank to have one system for all its employees’ needs. The Bank has implemented most of the Darwinbox modules, ensuring a consistent experience across the majority of the organization and HR processes.Additionally, the simplicity and user-friendliness of the Darwinbox interface, along with its deep functionality and intuitive mobile app, add significant value to the Bank’s operations. The no-code backend of the highly configurable platform empowers its HR team to tailor processes to the organization’s needs without external consultants.“[Darwinbox] is truly an empowering platform for an enterprise that is customer-first and people-empowered,” Berba said.Security Bank currently provides banking services across the Philippines through a dedicated workforce of nearly 9,000, who deliver the brand’s promise of ‘BetterBanking’.“Our commitment to a future-ready organization hinged on a compelling employee value proposition and a transformative work culture,” Berba said.Meanwhile, Darwinbox, founded in Asia and currently catering to over 950 enterprises worldwide, is actively expanding its presence in the Philippines.The company plans to engage various sectors, utilizing its advanced HR technology to address the diverse needs of organizations in the region. This expansion is in line with Darwinbox's goal to provide businesses with comprehensive and intuitive HR solutions, specifically designed for the unique challenges and opportunities within the Philippine market.Media Contact:Shruti Parmarshruti@bloomingdalepr.comBloomingdale Public Relations Copyright 2024 ACN Newswire via SeaPRwire.com.

SAN DIEGO, CA, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - The Japan Coast Guard (JCG) has signed a contract for the purchase of two SeaGuardian® Remotely Piloted Aircraft (RPA) from General Atomics Aeronautical Systems, Inc. (GA-ASI), scheduled for delivery in 2025. This follows JCG's ongoing Company-Owned, Contractor-Operated agreement with GA-ASI for operating SeaGuardian, which began in April 2022."Since JCG started operating SeaGuardians, they have been used for various JCG missions, including supporting search and rescue and disaster response, specifically during the 7.6 magnitude earthquake early this year near the Noto Peninsula of Ishikawa Prefecture and maritime surveillance during the 2023 G-7 Summit in Hiroshima, and the system has performed efficiently and effectively," said GA-ASI CEO Linden Blue.SeaGuardian is a medium-altitude, long-endurance RPA system that can fly for 24 hours or more, depending on the configuration.GA-ASI has strengthened its Maritime Wide Area Surveillance (MWAS) for Japan with Optix+, which gathers information from the SeaGuardian sensors, as well as other data sources, displaying the full picture of surveillance information for its operator. This functionality makes it easy to task and direct its Intelligence, Surveillance and Reconnaissance (ISR) information in real time. GA-ASI's Optix+ software suite rapidly correlates and exploits collected data into an easily shared common operational picture. Having multi-source correlated data enables automatic detection of anomalous behaviors over waters.About GA-ASIGeneral Atomics Aeronautical Systems, Inc. (GA-ASI), an affiliate of General Atomics, is a leading designer and manufacturer of proven, reliable RPA systems, radars, and electro-optic and related mission systems, including the Predator® RPA series and the Lynx® Multi-mode Radar. With more than eight million flight hours, GA-ASI provides long-endurance, mission-capable aircraft with integrated sensor and data link systems required to deliver persistent situational awareness. The company also produces a variety of sensor control/image analysis software, offers pilot training and support services, and develops meta-material antennas.For more information, visit www.ga-asi.com.Avenger, Lynx, Predator, SeaGuardian, and SkyGuardian are registered trademarks of General Atomics Aeronautical Systems, Inc.Contact InformationGA-ASI Media Relationsasi-mediarelations@ga-asi.comSOURCE: General Atomics Aeronautical Systems, Inc. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - The opening ceremony of the exhibition entitled "Launch from Greater Bay Area: Nanhai I Shipwreck and the Maritime Silk Road", co-organised by the Development Bureau (DEVB), the National Cultural Heritage Administration and the Secretariat for Social Affairs and Culture of the Government of the Macao Special Administrative Region, was held on August 15. Featuring artefacts discovered from Nanhai I, an ocean-going merchant ship, and relevant artefacts from Guangdong, Hong Kong and Macao, the exhibition showcases the role of the Guangdong-Hong Kong-Macao Greater Bay Area on the Maritime Silk Road. The opening ceremony was officiated by the Secretary for Development, Ms Bernadette Linn; Deputy Director of Art Exhibitions China Ms Zhou Yu; the President of the Guangdong Provincial Institute of Cultural Relics and Archaeology, Ms Cao Jin; and the Vice President of the Cultural Affairs Bureau of the Government of the Macao Special Administrative Region, Mr Cheang Kai-meng.Nanhai I was a merchant ship of the Southern Song dynasty. Its shipwreck was salvaged in 2007 and is the most complete ancient ocean-going merchant ship discovered through archaeological excavation to date. A large collection of artefacts was discovered from Nanhai I, mainly porcelain, bronzeware, ironware, gold, silverware, lacquerware and woodenware. The quantities, shapes, craftsmanship and forms of the artefacts are rare among the archaeological finds of the Southern Song dynasty. Archaeologists believe that Nanhai I might have sunk along the maritime route from Guangdong to the South China Sea in the 10th year of the Chunxi reign (1183) of the Southern Song dynasty or shortly afterwards. Among the 255 items of exhibits are artefacts discovered from Nanhai I, including a brown glazed jar with four lugs and stamped with the Chinese characters “Chun Xi Shi Nian” (i.e. the 10th year of the Chunxi reign) from the Nanhai kiln; a qingbai glazed foliated bowl with stamped plum blossom pattern from the Jingdezhen kiln; a green glazed ogee-shaped foliated dish with incised lotus pattern from the Longquan kiln; a necklace with gold chain and rhinoceros horn-shaped cone ornaments; and a gem-set hollow gold bracelet. Also on display are relevant exhibits unearthed from Guangdong, Hong Kong and Macao, including the bottom fragment of a qingbai glazed bowl with inked Chinese characters “Gong Shi” (i.e. envoy) from the Hutian kiln of the Song dynasty from the site of the Nanyue Kingdom Palace in Guangzhou; a yellowish-green glazed jar with six lugs and dragon pattern of the Song dynasty from the site of the former Sacred Hill in Hong Kong; and a blue-and-white kendi with elephant head shaped spout from the Jingdezhen kiln of the Ming dynasty from the site of St. Paul's College in Macao.The exhibition will run at the Hong Kong Heritage Discovery Centre, Kowloon Park, Haiphong Road, Tsim Sha Tsui, from August 16 to February 12 next year. Admission is free. A short video about the preparation of the exhibition is available on the website of the Antiquities and Monuments Office of the DEVB (www.amo.gov.hk/en/news/index_id_153.html?year=2024). The exhibition entitled “Launch from Greater Bay Area: Nanhai I Shipwreckand the Maritime Silk Road” opened on August 15. Photo shows the Secretaryfor Development, Ms Bernadette Linn (second right); the Deputy Directorof Art Exhibitions China, Ms Zhou Yu (second left); the President ofGuangdong Provincial Institute of Cultural Relics and Archaeology,Ms Cao Jin (first right); and the Vice President of the CulturalAffairs Bureau of the Government of the Macao Special AdministrativeRegion, Mr Cheang Kai-meng (first left), officiating at the opening ceremony.The exhibition entitled “Launch from Greater Bay Area: Nanhai I Shipwreckand the Maritime Silk Road” opened on August 15. Photo shows the Secretaryfor Development, Ms Bernadette Linn (first left), the Deputy Directorof Art Exhibitions China, Ms Zhou Yu (third right), and the VicePresident of the Cultural Affairs Bureau of the Governmentof the Macao Special Administrative Region, Mr Cheang Kai-meng(second right) touring the exhibition.The exhibition entitled “Launch from Greater Bay Area: Nanhai I Shipwreckand the Maritime Silk Road” opened on August 15. Photo shows theSecretary for Development, Ms Bernadette Linn (first left), the DeputyDirector of Art Exhibitions China, Ms Zhou Yu (second left), and theVice President of the Cultural Affairs Bureau of the Government of theMacao Special Administrative Region, Mr Cheang Kai-meng (third left)touring the exhibition.Brown glazed jar with four lugs and stamped Chinesecharacters “Chun Xi Shi Nian” (i.e. the tenth yearof the Chunxi reign) from Nanhai kiln. The inscriptionon the jar is crucial for determining when the"Nanhai I" sank.Gem-set hollow gold bracelet with sophisticated techniques of SouthernSong dynasty (1127-1279) unearthed at “Nanhai I”, similarartefacts were also found at Riyadh, Saudi Arabi.Green glazed ogee-shaped foliated dish with incised lotus pattern ofSouthern Song dynasty (1127-1279) from Longquan kiln unearthed at “Nanhai I”. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - Weilong Delicious Global Holdings Ltd (“WL Delicious” or the “Company”) and together with its subsidiaries (the “Group”) (Hong Kong stock code: 9985.HK) announced its unaudited interim results for the six months ended 30 June 2024 (the “Reporting Period”).In the first half of 2024, against the backdrop of increasing global uncertainties, the Chinese economy maintained a robust growth momentum. Benefiting from the growing consumption willingness of young consumer groups led by Generation Z, the casual snack food industry has exhibited strong growth prospects. During the Reporting Period, WL Delicious seized the structural opportunities in the snack food sector brought by diversified mainstream consumption concepts, adhering to the strategy of "multiple categories and large single product". The Company continuously upgraded its research and development capabilities, actively engaged in integrated online and offline marketing activities to enhance brand influence, and vigorously implemented its omni-channel strategy to provide consumers with a more satisfying, convenient, and superior consumption experience.During the Reporting Period, WL Delicious's operational strategy yielded significant results, with performance continuously improving and achieving double-digit growth in both revenue and net profit. In the first half of 2024, the Group’s total revenue reached approximately RMB 2,939 million, representing a year-on-year growth of 26.3%. This growth was primarily attributed to the effective implementation of the Group’s business development strategies during the Reporting Period, particularly the active promotion of omni-channel construction and brand investment and brand building, resulting in the steady increase in both online and offline revenues. Benefiting from an increase in utilization rate and a decrease in the prices of certain raw materials during the Reporting Period, the Group recorded a gross profit of approximately RMB 1,462 million, marking a 32.2% year-on-year increase. The gross profit margin increased by 2.3 percentage points from the same period last year to 49.8%. The Group's net profit surged by 38.9% year-on-year to around RMB 621 million. Driven by the improvements in revenue and gross margin, the net profit margin increased by 1.9 percentage points from the same period last year to 21.1%.Based on the overall performance during the Reporting Period, the Board of Directors decided to declare an Interim Dividend of RMB 0.16 per share (inclusive of tax for 2024, amounting to a total Interim Dividend of approximately RMB376.2 million), representing approximately 60% of the net profit of the Group for the six months ended June 30, 2024. The expected dividend payment date is on or about October 18, 2024.In terms of products, the Group adhered to its consumer-centric approach andmaintained the strategy of "multiple categories and large single product". It actively enhanced its research and development capabilities, continuously explored the changing consumption preferences of young consumer groups, and successively launched products such as spicy barbecue-flavored konjac vegetarian tendon "XIAO MO NV", hot and sour hotpot-flavored vegetarian tripe "XIAO MO NV", and lime-flavored crisp Latiao “CUI HUO HUO”, expanding its product portfolio to meet the diverse and personalized consumer demands.In terms of brand development, the Group continued to strengthen its branding efforts. It actively engaged in integrated online and offline branding and marketing activities to enhance interaction with consumers and boost brand influence. Activities including brand promotion of the core large product "Konjac Shuang," IP animated videos for the " XIAO MO NV", "Durian Latiao" pop-up stores, and collaborative marketing events like the " Eggy Party" were organised. The Group has been actively creating a distinct path towards brand rejuvenation, aiming to continuously increase brand vitality and appeal. This makes the brand more aligned with the lifestyle and consumption habits of young consumer groups.Regarding distribution channels, the Group actively implemented its omni-channel strategy. While consolidating its presence in traditional snack distribution channels, it was also seizing growth opportunities brought by emerging channels such as O2O, content e-commerce platforms, snack specialty retailers, and warehouse clubs. During the Reporting Period, the Group deepened its online and offline omni-channel development, establishing closer connections with consumers and providing a more convenient consumption experience.Mr. Liu Weiping, Chairman of WL Delicious, stated: "As a pioneer and leader in the Chinese spicy snack food industry, the Group remains committed to embracing the diverse changes in consumer preferences with a more proactive and open mindset. We actively strengthen our product category and product innovation, promote youthful and diverse development of our brand, seize the opportunities brought by the emerging channels while reinforcing traditional channels, firmly advocate for product innovation and omni-channel development, and remain focused on enhancing the quality and efficiency of our supply chain. We are dedicated to continuously establishing ourselves as a leading provider of value-driven spicy snack foods for consumers. The Group will continue to stay true to our original aspirations, remember our mission, and strive to deliver the maximum value and return to consumers, customers, shareholders, investors, employees, and society."RMBFor the 6 months ended 30 JuneChange20242023Revenue2,939 million2,327 million+26.3%Gross Profit1,462 million1,106 million+32.2%Gross Profit Margin49.8%47.5%+2.3p.p.Net Profit621 million447 million+38.9%Net Profit Margin21.1%19.2%+1.9p.p.Basic Earnings Per Share0.270.19+42.1%Interim Dividend0.16 / ordinary share0.12 / ordinary share+33.3%- Ends -About Weilong Delicious Global Holdings LtdWEILONG Delicious Global Holdings Limited ("WL Delicious") is an all-in-one spicy snack products enterprise, leading in the research and development, production, and sales of spicy snack foods in China. Based on traditional formulas, WL Delicious started the Chinese seasoned flour products (also commonly known as Latiao industry, created our first Latiao snack in 2001, leading the standards construction of Latiao industry. With our outstanding product development capabilities, the Group has successfully diversified into vegetable products, bean-based products and others, including Konjac Shuang, Fengchi Kelp, Soft-boiled egg and others. The Group has further launched new products like spicy Latiao, konjac vegetarian tripe “XIAO MO NV” and spicy crisp Latiao “CUI HUO HUO”, which are quite popular among consumers. WL Delicious is a popular snack food brand among young consumers in China. It has an omni-channel sales and distribution network that effectively reaches young consumers. In 2024, we have won the FBIF WOW Food Award "Best Snack Award" ( FBIF WOW and "Hurun Top 100 National Brands" award. For more information, please visit https://www.weilongshipin.com/. Copyright 2024 ACN Newswire via SeaPRwire.com.

- Food Expo, Food Expo PRO, Beauty & Wellness Expo, Home Delights Expo, Hong Kong International Tea Fair & the International Conference of the Modernization of Chinese Medicine and Health Products (ICMCM) opened today, attracting some 1,860 exhibitors from 30 countries and regions- Introducing four theme days, featuring a wide array of delicacies and beverages. Coupled with a variety of exciting events, the exhibitions offer a diverse range of shopping and entertainment experiences- Lucky draw prizes worth over HK$500,000 are up for grabs and Smart Bidding enables visitors to bid on various tantalising food and beverage products starting from 10% of the original price- Flash deals and limited time offers are available on the “August Happy Buy” website, including over 130 discount coupons, allowing visitors to enjoy good deals- ICMCM focuses on "The Industry-University-Research Collaboration and Clinical Research on Traditional Medicine" with 18 renowned speakers invited to attendHONG KONG, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - Organised by the Hong Kong Trade Development Council (HKTDC), three public events including the HKTDC Food Expo, HKTDC Beauty & Wellness Expo, and HKTDC Home Delights Expo opened today at HKCEC, and will run from 15 to 19 August. Running alongside for three days are the Food Expo PRO and the Hong Kong International Tea Fair. The International Conference of the Modernization of Chinese Medicine and Health Products (ICMCM), organised by the Modernised Chinese Medicine International Association (MCMIA) in collaboration with the HKTDC and ten scientific research institutions, will run today and tomorrow.Officiating at the opening ceremony was guest of honour Algernon Yau, Secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region (HKSAR), who was joined by HKTDC’s Chairman, Dr Peter K N Lam and Executive Director, Margaret Fong.“We are excited to welcome some 1,860 exhibitors from 30 countries and regions at our summer shows. These events provide an excellent opportunity for exhibitors from across the globe to connect directly with consumers not only from Hong Kong but also from the Greater Bay Area, as well as buyers from around the world. This reinforces our city’s reputation as Asia’s leading hub for consumer and lifestyle products. Around the various daily themes of Delights Across Mainland China, Happy Friday, Japan & Korea Express and Wellness Weekend, we are offering visitors a wide range of activities which promises to be a delightful experience for all,” said Margaret Fong, Executive Director of the HKTDC during her welcome remarks at the opening ceremony.The five-day Food Expo, Beauty & Wellness Expo, and Home Delights Expo are open to the public from 15 to 19 August. Food Expo PRO and the Hong Kong International Tea Fair are open to trade buyers on the first two days (15-16 August) and then open to the public on 17 August. This year’s fairs will have a new look with four new lifestyle-inspired themes, offering visitors a range of exciting events and unique experiences to fulfil different needs of gourmet treats or tea, health and wellness knowledge, or lifestyle products.“Delights Across Mainland China” (15 August)On the first day of the fairs, “Delights Across Mainland China” offers visitors an opportunity to experience the diverse culinary flavours of Mainland China. The Star Kitchen & Star Stage at the Gourmet Zone features Lau Ka Wing, Executive Chef of Hau Tak Restaurant who will give a cooking demonstration under the theme “Legacy of Cantonese Cuisine”. The Entertainment Stage will host a Sichuan taste promotional event, while at the Gourmet Stage there will be delicacies from Jiangsu Province and a cooking demonstration of Inner Mongolian Mutton with wine pairing. At the Beauty & Wellness Theatre, there will be sharing on improving inner and outer health using traditional Chinese medicine.Other “Delights Across Mainland China” highlights include frozen Fo Tiao Qiang from Guangdong (Booth: 1D-C10), sauerkraut fish fillet and rattan pepper fish fillets (Booth: 1B-A22), Luochuan apples from Shaanxi Province, and sweet corn grown at high altitude in the Qinba Mountain area (Booth: 1E-D26). The China National Agricultural Pavilion, organised by the Agricultural Trade Promotion Centre, the Ministry of Agriculture and Rural Affairs of Mainland China, showcases over a thousand agricultural and food products from 12 provinces in Mainland China. Visitors can experience delicacies such as sea cucumbers from Liaoning, goji berries from Ningxia, melons and fruits from Guangdong, fresh eggs from Sichuan, soup dumplings from Jiangsu, camellia oil from Hunan, dates from Xinjiang, Wenchang chicken from Hainan, and broad bean noodles from Gansu.“Happy Friday” (16 August)Offering visitors a relaxing and enjoyable way to unwind after a busy week, “Happy Friday” (16 August) will be at the Food Expo's Gourmet Zone, with a wide selection of fine wines at promotional prices. Notable deals include limited tastings of selected Juyondai sake for HK$20 and Daiginjo for HK$1 (limited to 10 servings each at Booth: 3B-C01), 100ml of Ohmine 3 Grain Sakura Yamada Nishiki Original Sake for HK$30 (Booth: 3B-C12), exclusive draft beer buckets for HK$100 (Booth: 3B-A09), and dark chocolate liqueur with a buy two, get one free offer (Booth: 3B-D13).The Star Kitchen & Star Stage have curated an exciting lineup of activities, including the mixology shows by star mixologists and food crafting demonstration showcasing culinary aesthetics. The Beauty & Wellness Theatre will also host engaging performances and interactive workshops featuring a fancy rope skipping show and a vibrant rainbow calligraphy workshop.“Japan and Korea Express” Day (17 August)Visitors will be transported to Japan and Korea on Saturday (17 August) through exciting events, workshops and food stalls showcasing their unique food and lifestyle of these two vibrant countries. The Food Expo's Star Kitchen & Star Stage will offer visitors immersive experiences with traditional Japanese dance and judo performances organised by the Japanese Society of Hong Kong, kimchi-making demonstrations by a Korean chef, Korean functional food talks, taekwondo, and dances.Visitors can also discover premium Japanese and Korean food, including Korean-style frozen kimbap (Booth: 1C-A10), Japanese freshly pressed clear sesame oil (Booth: 3C-D02), Kagoshima Kurobuta dumplings (Booth: 1B-C02), and Japanese organic salba chia (Booth: 3B-E16).Food Expo PRO and Tea Fair are open to the public on the last day (17 August). Over at the Tea Fair, visitors can find the highly sought-after Hadong Black Tea (Booth: 5F-E13), while Food Expo PRO features Japanese Torimeshi Bento (Booth: 5B-C13), and Korean Cupchelin Gochujang Bibimbap (Booth: 5C-A13), among other delicacies. Furthermore, eight renowned Japanese businesses, each boasting a legacy of over a century, participated in the Food Expo PRO and hosted by the Research Institute of Centennial Management and Kyoto Shinise Research Institute. Each of them showcases Japanese culinary delights, including Wagashi and Miso.Japanese and Korean furniture are on display at the Home Delights Expo, including a made-in-Japan IH rice cooker (Booth: 3F-D17), a mini Korean barbecue grill (Booth: 3F-D02), and Korean slow juicer (Booth: 3G-A26). At the Tea Fair (Booth: 5F-F01) the exquisite Japanese imperial chrysanthemum Fuji-shaped Tetsubin, a Meiji-era piece adorned with the Imperial Chrysanthemum motif is offered. The Beauty & Wellness Expo offers visitors the chance to learn about the traditional cultural background of Japanese incense at CMUSIC SHOP LIMITED (Booth: 3D-D24) and even experience its relaxing and healing properties."Wellness Weekend" (17-18 August)Spanning Saturday and Sunday (17-18 August), the Wellness Weekend aims to provide visitors with a serene space to relax and focus on their well-being. At the Food Expo’s Gourmet Stage, Hong Kong Youth Latte Art Competition winners will showcase their talents and share insights of latte art. The Beauty & Wellness Theatre will host exciting activities promoting physical and mental health, including a mesmerising sand art performance. Visitors can express their hidden talents by participating in cloisonné enamel perfume bottle and wood colour painting workshops. Those motivated by sports health should look out for sharing by the Sports Therapists Association of Hong Kong on the benefits of sports therapy. On Saturday (17 August), the Hong Kong International Tea Fair will host a Japanese Tea Ceremony Demonstration at the Tea Salon to present an authentic Japanese tea performance, highlighting this tradition's cultural and philosophical aspects.This year's Beauty & Wellness Expo introduces a new Body Mind Spirit Zone catering to the needs of urban dwellers. Visitors can explore innovative products like a movable silent booth (Booth: 3E-A16) for flexible personal space; for those seeking inner peace and balance, experiences such as the Nepalese singing bowl (Booth: 3E-B36) and Chinese rainbow calligraphy (Booth: 3E-C31, 3E-C33) are available. Hong Kong Association of Flower Arranging Societies presents over 30 exquisite floral art pieces under the theme “Blossoms - Delights”, along with floral art workshops and demonstrations for the public.Snap a pic with Snoopy & friends for limited-edition houseware, and treat yourself to a HK$45 haircut or styling sessionThe fairs offer even more special programmes for visitors to enjoy in person. For example, the 10th edition of the Home Delights Expo coincides with the 50th Anniversary of PEANUTS (BEAGLE SCOUTS) collection. The exhibitor presents the “Home Delights Expo 10th Edition Celebration Special: Snoopy Hide & Seek” (Booth: 3F-C22). Visitors can redeem special edition homeware by taking selfies with designated Snoopy and friends characters at the venue, adding a touch of fun to their living spaces. At the Beauty & Wellness Expo, 30 free haircuts are offered on a first come, first served basis on-site daily during the Expo. Additionally, visitors can enjoy discounted quick cuts or styling at a special discount of HK$60 per person, with a further discount to HK$45 if payment is made via PayMe.Two trade fairs: Expanding food and tea trade networks; unveiling the latest food trendsThe second edition of Food Expo PRO welcome 20 pavilions from different countries and regions, including multiple provinces in Mainland China, the neighbouring Japan and Korea, Thailand, Indonesia, Malaysia and Philippines from the ASEAN region, Poland and Mexico from outside Asia, and more. The trade show also introduces a dedicated Halal food and beverage label, featuring over 100 exhibitors from both Food Expo PRO and Food Expo who showcase Halal food and beverage products. A Halal food showcase area is set up at Hall 5E to help facilitate sourcing for buyers and promotes the development of the halal food and beverage sector in the region.The spotlighted Food Science and Technology zone presents alternative and future food products. Today’s Food Tech Symposium focuses on the latest food packaging, refrigeration technology and applications in ready meals, with the Hong Kong Food Professionals Association, and Hong Kong Food Innovation & Technology Hub, discussing food innovation and technology trends alongside food tech start-ups and company from Mainland China.The 15th Hong Kong International Tea Fair features four pavilions: Sri Lanka, Fujian, Hunan, and the first-ever pavilion by the Hong Kong and Kowloon Tea Trade Merchants Association. Attendees can taste local organic teas from Hong Kong’s Kadoorie Farm & Botanic Garden, Wuyi Rock Tea from Fujian, Purple Tea from Kenya and Hadong Black Tea from Korea while exploring speciality tea wares.ICMCM – Discussion on Industry-University-Research Collaboration and Clinical Research on Traditional Medicine (15-16 August)The Modernized Chinese Medicine International Association (MCMIA) is partnering with the HKTDC, and ten scientific research institutions to present at the latest International Conference of the Modernization of Chinese Medicine & Health Products (ICMCM). Themed "The Industry-University-Research Collaboration and Clinical Research on Traditional Medicine", this conference offers valuable Chinese medicine insights and information.18 keynote speakers will discuss development trends, scientific research achievements, successful experiences, regulations, and the outlook of Chinese medicine and health products in connection to the “Belt and Road” initiative. The hybrid format of the conference aims to foster the exchange of ideas among speakers and participants, and registered Chinese medicine practitioners in Hong Kong who can apply for Continuing Medical Education (CME) credits.Lucky draw and exciting special offersThe fairs feature daily lucky draws with an impressive prize pool worth over HK$500,000. Prizes include kitchenware, furniture, beauty products and treatments, gourmet food, and health products and more. Visitors can enter the lucky draw by spending HK$200 or more on a single receipt, with a maximum of five entries per receipt at the fairs. The Smart Bidding sessions allow visitors to bid for their favourite products starting from a 90% discount. PayMe users can scan QR codes onsite and grab a HK$10 PayMe voucher. The HKTDC’s “August Happy Buy” promotional website continues to provide the latest shopping information, including flash sales, limited offers and over 130 shopping coupons designed to enhance visitors’ Hong Kong shopping spree.Physical ticket sales for the August exhibitions are not available at the fairground. E-tickets can be purchased in advance through e-Payment Sponsor BoC Pay, offering a 10% discount on ticket purchases and discounts of up to HK$100 on purchases at the fairgrounds, or through AlipayHK’s “Movies/Tickets” and Alipay’s “Exhibition Tickets” applet. A designated number of ticket purchasers will receive a HK$2 discount and a complimentary HK$10 mooncake or fairground cash coupon. Visitors can also purchase tickets at the 01 Space e-ticketing platform, all 7-11 and Circle K convenience stores, and via the Octopus App or use their AlipayHK, Alipay or Octopus card for admission instantly at the toll booths set up at the fair entrance. The HKTDC has also extended the discounted morning and night admission tickets for the public on designated dates.Photo download: https://bit.ly/4dJJxsSThe 34th Food Expo, the 8th Beauty & Wellness Expo, the 10th Home Delights Expo, the 2nd Food Expo PRO, the 15th Hong Kong International Tea Fair, and the International Conference of the Modernization of Chinese Medicine and Health Products (ICMCM) all officially opened today. Algernon Yau, Secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region (HKSAR) (front row, seventh left), officiated the opening ceremony, was joined by HKTDC’s Dr Peter K N Lam, Chairman (front row, seventh right), Margaret Fong, Executive Director (front row, sixth left) and other distinguished guestsThe Food Expo PRO helps industry players get a head start on industry insights and development trends. This year's event showcases Halal food products from around the world, including Korean Cupchelin Gochujang Bibimbap, Thai fried seaweed, and moreThe Hong Kong International Tea Fair features four regional pavilions, including Sri Lanka, Fujian and Hunan, and the debut of the Hong Kong & Kowloon Tea Trade Merchants Association Pavilion, showcasing the unique tea cultures and quality tea products of different regionsThe Food Expo's Public Hall and Gourmet Zone features events like star chefs and mixologists, food promotions, performances by the Coffee Latte Art Demo winners, various dance and taekwondo performancesThe China National Agricultural Pavilion, organised by the Agricultural Trade Promotion Centre, the Ministry of Agriculture and Rural Affairs of Mainland China, showcases over a thousand agricultural and food products from 12 provinces in Mainland ChinaOrganised by the Hong Kong Hair & Beauty Merchants Association, this year’s Beauty & Wellness Expo offers 30 free haircuts and styling quotas on a first come, first served basis during the five-day fairTo celebrate the 10th edition of the Home Delights Expo, which coincides with the 50th Anniversary of PEANUTS (BEAGLE SCOUTS) collection, jointly hosts the “Home Delights Expo 10th Edition Celebration Special: Snoopy Hide & Seek” campaignOpening dates and times of the exhibitions:DateHKTDC Food Expo PRO, Hong Kong International Tea FairOpen to trade buyers only: 15-16 August (Thursday to Friday)Open to trade buyers and public: 17 August (Saturday)HKTDC Food Expo, HKTDC Beauty & Wellness Expo, HKTDC Home Delights Expo15-19 August (Thursday to Monday)International Conference of the Modernization of Chinese Medicine and Health Products15-16 August (Thursday to Friday)TimeHKTDC Food Expo PRO, Hong Kong International Tea Fair15-16 August: 10:00 am to 6:00 pm17 August: 10:00 am to 5:00 pmHKTDC Food Expo, HKTDC Beauty & Wellness Expo, HKTDC Home Delights Expo15-18 August: 10:00 am to 10:00 pm19 August: 10:00 am to 6:00 pmVenueHong Kong Convention and Exhibition Centre, Wan ChaiAdmission- HKTDC Food Expo Public Hall, HKTDC Beauty & Wellness Expo, HKTDC Home Delights Expo 2024: HK$30 per person (Ticketholders can pay a top-up fee of HK$10 for admission to the Gourmet Zone on the same day)- HKTDC Food Expo Public Hall and Gourmet Zone, HKTDC Beauty & Wellness Expo, HKTDC Home Delights Expo 2024 pre-sale combo tickets: HK$36 per person**HK$36 per person during the pre-sale period from 1 to 14 August and HK$40 per person from 15 to 19 August. (Tickets are available for pre-sale and walk-in at all 7-Eleven and Circle K convenience stores for HK$36 per person.)Remarks: Holders of 17 August single ticket & combo ticket can visit Food Expo PRO and Hong Kong International Tea Fair- Morning admission tickets (entry before noon on 15, 16 and 19 August, Thursday, Friday and Monday): HK$10 (pay directly by AlipayHK, Alipay or Octopus card for admission at the hall entrances only)- Night admission tickets (entry after 6:00 pm on 15, 16, 17 and 18 August, Thursday to Sunday): HK$10 (pay directly by AlipayHK, Alipay or Octopus card for admission at the hall entrances only)- Concessionary price for persons with disabilities: HK$10 (top-up fee for the Gourmet Zone on the same day is HK$10)Note: Persons with disabilities need to present a “Registration Card for Persons with Disabilities”, issued by the Labour and Welfare Bureau (pay directly by AlipayHK, Alipay or Octopus card for admission at the hall entrances only)- Tourist tickets: HK$20 (HK$30 including admission to the Gourmet Zone)Note: Tourists need to present valid travel documents at the fairground to purchase tickets.- Free admission is available for children aged three and under and senior citizens aged 65 or above (presenting valid age proof).Tickets- E-tickets are available for sale at BoC Pay (e-payment sponsor), AlipayHK and Alipay, the 01 Space e-ticketing platform, all 7-11 and Circle K convenience stores, and via the Octopus App.HKTDC Food Expo PROhttps://foodexpopro.hktdc.comHKTDC Hong Kong International Tea Fairhttps://hkteafair.hktdc.comHKTDC Food Expohttps://hkfoodexpo.hktdc.comHKTDC Beauty & Wellness Expohttps://hkbeautyexpo.hktdc.comHKTDC Home Delights Expohttps://homedelights.hktdc.com/The International Conference of the Modernization of Chinese Medicine and Health Products (ICMCM)https://icmcm.hktdc.com/ August Happy Buy websitehttps://ecoupon.hktdc.com/food/Media EnquiriesOgilvy Public Relations:Cynthia SitTel: (852) 9425 4547Email: cynthia.sit@ogilvy.comLeanne PokTel: (852) 9379 9694Email: leanne.pok@ogilvy.comHKTDC's Communications and Public Affairs Department:Frankie LeungTel: (852) 2584 4298Email: frankie.cy.leung@hktdc.orgClayton LauwTel: (852) 2584 4472Email: clayton.y.lauw@hktdc.orgMedia Room: http://mediaroom.hktdc.comAbout HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn Copyright 2024 ACN Newswire via SeaPRwire.com.

Financial Highlights:- In the first half of 2024, the total revenue amounted to RMB1,867 million, representing a year-on-year growth of 27.1% - The revenue of the 4ParadigmSage AI Platform (the “Sage AI Platform”) business grew by 65.4% year on year to RMB1,251 million, accounting for 67.0% of the total revenue - The SHIFT Intelligent Solutions business recorded revenue of RMB453 million, accounting for 24.3% of the total revenue - The revenue of the 4ParadigmSageGPT AIGS Services segment amounted to RMB163 million, accounting for 8.7% of the total revenue- In the first half of 2024, gross profit amounted to RMB790 million, representing a year-on-year increase of 12.1% and a gross profit margin of 42.3%- In the first half of 2024, the total R&D expenses further increased to RMB850 million, with a R&D expense ratio of 45.5%- In the first half of 2024, the adjusted net loss narrowed by 4.0% year-on-year, and the adjusted net loss margin decreased to 9.0% year-on-yearOperation Highlights:- In the first half of 2024, the Company engaged with 14 industries, serving a total of 185 users, including 86 benchmark users, who contributed an average revenue of RMB11.48 million, representing a 26.9% year-on-year increase- 4ParadigmSage: During the Reporting Period, the Company launched the “4ParadigmSage AI Platform 5.0”, positioned as an industry-focused model development and management platform aimed at enhancing the core competitiveness of enterprises; In the “Sage Inside Model”, the Company leveraged the core technology within the Sage AI Platform as an engine to develop intelligent products and solutions tailored to the diverse needs of different industries; leveraging the core capabilities of the “Sage AI Platform”, the Company collaborated with “Paradigm Ecology” partners to efficiently develop more than 30 AI products, covering various scenarios across more than 20 industries as of August 1, 2024, including research, production, supply, sales and services- 4Paradigm SHIFT: During the Reporting Period, the Company has launched “Tianshu”, an integrated platform for search, advertising and promotion, Model Hub, a large model hosting platform, and Copilot, a data query, intelligent number query and software operation assistant, and other products- 4Paradigm AIGS: During the Reporting Period, the Company continued to iterate and optimize product features, with a greater focus on providing developers with efficient and convenient operation habits and programming experience. At the functional level, the product further optimized the immersive coding experience, allowing developers to directly access the necessary business and technical documentation without leaving the development environmentHONG KONG, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - A leading enterprise AI software company-Beijing Fourth Paradigm Technology Co., Ltd. (“Fourth Paradigm” or the “Company”, Stock Code: 6682.HK) today announced the consolidated interim results for the six months ended June 30, 2024 (the “Reporting Period”).In the first half of 2024, Fourth Paradigm recorded robust growth in revenue, riding a clear profitability trajectory. The total revenue amounted to RMB1,867 million, representing a year-on-year growth of 27.1%. The Company’s gross profit amounted to RMB790 million, representing a year-on-year increase of 12.1% and a gross profit margin of 42.3%. While maintaining the high level of R&D investment. the Company continued to reduce losses during the Reporting Period, with an adjusted net loss narrowing by 4.0% year-on-year, and the adjusted net loss margin decreasing to 9.0% year-on-year.In the first half of 2024, Fourth Paradigm remained committed to diversifying its customer base and reinforcing its dominant presence in key industries such as transportation, energy and power, finance and telecommunications. During the Reporting Period, the Company engaged with 14 industries, serving a total of 185 users, including 86 benchmark users, who contributed an average revenue of RMB11.48 million, representing a 26.9% year-on-year increase.During the Reporting Period, the Company’s core business, “4ParadigmSage AI Platform”, maintained strong growth momentum, with revenue reaching RMB1.251 billion, representing a 65.4% year-on-year increase and accounting for 67.0% of the total revenue. In the first half of 2024, attaching equal importance to the extensive application and the expansion of its product ecosystem, this business has supported the extensive application of 4Paradigm’s industry-specific large models across 14 industries. Meanwhile, by leveraging AI technology, the business has developed over 30 products for various industries. In the future, the Company will continue to build an AI product ecosystem with top-notch product matrices to drive business growth and bolster the competitiveness of numerous industries.Two Engines of Industry-specific Large Model + 4ParadigmSage AI Product Ecosystem Drive the Explosive Revenue Growth of Core Business by 65.4% YoY“Sage Inside” Product Matrix: Expansion of 4Paradigm’s Industrial Ecosystem with High-quality AI Product CapabilitiesIn the first half of 2024, Fourth Paradigm launched multidimensional and multilayered AI products with high-quality output through the “Sage Inside Model” by innovatively “productizing AI technologies” and leveraging the core capabilities of the Sage AI Platform. This move serves to push the boundaries of AI applications and establish 4Paradigm’s industrial ecosystem.By implementing the “Sage Inside Model”, the Company leveraged the core technology within the Sage AI Platform as an engine to develop intelligent products and solutions tailored to the diverse needs of different industries. The “Sage Inside Model” transforms the basic AI capabilities of the Sage AI Platform into a matrix of AI products that are adaptable to various scenarios. These AI products serve as the cornerstone of the “Paradigm Ecology”, supporting ecosystem partners and their products to enhance service quality and efficiency and expanding the application of AI technology to empower numerous industries.In the first half of 2024, drawing on the core capabilities of the Sage AI Platform，Fourth Paradigm collaborated with “Paradigm Ecology” partners to efficiently develop more than 30 AI products. As of August 1, 2024, the Company covered various scenarios across more than 20 industries, including research, production, supply, sales and services. These products encompass various AI technology areas such as large-model speech synthesis, physical simulation, multimodal generation, AutoML visual inspection, search, advertising and promotion. The AI products the Company has launched (including the AI Digital Human Video Synthesis Platform, vGPU Resource Pooling, 5G Video Marketing, AI Quality Inspection System, and 3D Scanning and Modeling Equipment) have been deployed across various scenarios within enterprise customersIndustry-specific Large Models Extensive Application Across 14 IndustriesOver the past decade, the Sage AI Platform has evolved from version 1.0 to 5.0. The “4ParadigmSage AI Platform 5.0”, which was launched this year, is positioned as an industry-focused model development and management platform aimed at enhancing the core competitiveness of enterprises. The platform supports the integration of various types of enterprise data and offers accessible modeling tools for large model training and fine-tuning, an innovative scientist service system, North Star strategy management platform, large model hosting platform, mainstream computing power adaptation and optimization capabilities, thereby enabling end-to-end construction, deployment and management of industry-specific large models.In the first half of 2024, leveraging the capabilities of the “4ParadigmSage AI Platform 5.0”, Fourth Paradigm efficiently built industry-specific large models for various applications including academic translation, health management, water and electricity management, water conservancy, 3D auxiliary design, supply chain and fluid dynamics across 14 major industries, including transportation, data centers, finance, energy and power, telecommunications, information technology, smart manufacturing and retail sectors. The platform efficiently empowered enterprises in their multi-scenario and high-value digital transformation, and steadily advancing the large-scale application of AI technology across various industries.In the future, with the continuous improvement of 4ParadigmSage, Fourth Paradigm will continue to deeply explore the high-value application scenarios of the industry-specific large models in the field of enterprise services, and accelerate the landing process of the artificial intelligence industry through extensive application and expansion of product capabilities.In terms of Strategic Outlooks, Dr. Dai Wenyuan, Chairman of the Board, Executive Director, Chief Executive Officer and General Manager of Beijing Fourth Paradigm Technology Co., Ltd. said, “Founded nearly 10 years ago, Fourth Paradigm adheres to innovation-driven development and is committed to leveraging the ‘4Paradigm’ technology theory to empower numerous industries and advance the evolution of AI technology. During the Reporting Period, we focused on driving the diverse applications of AI technology through innovation and transforming AI technology into productized solutions. In the first half of the year, we efficiently developed more than 30 AI products for various industries.'Drawing on the core capabilities of the Sage AI Platform, we collaborated with our ‘Paradigm Ecology’ partners, our products have been deployed across more than 20 industries as of August 1, 2024, covering various scenarios such as research, production, supply, sales and services. We are building a robust AI industry ecosystem with high-quality products. In the future, we will continue supporting technical innovation, developing high-quality product matrices, and fostering an AI product ecosystem, so as to diversify and improve the efficiency and core competitiveness of AI applications across numerous industries while driving business growth." Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 16, 2024 - (ACN Newswire via SeaPRwire.com) - Yuexiu Real Estate Investment Trust ("Yuexiu REIT", together with Yuexiu REIT Asset Management Limited, collectively known as the “REIT”; stock code: 0405) has announced its interim results for the six months ended 30 June 2024.Yuexiu REIT Management Team: Chairman, Chief Executive Officer andExecutive Director Mr. LIN Deliang (second from the left), Deputy ChiefExecutive Office and Executive Director Ms. OU Haijing (third from theleft), Chief Financial Officer Mr. KWAN Chi Fai (first from the left), and Investor Relations Director Mr. JIANG Yongjin (fourth from the left)2024 Interim Results Highlights:- Overall operation was stable, with total revenue of RMB 1,034 million (corresponding period of 2023: RMB1,061 million).- Distribution of approximately RMB0.0371 per unit, equivalent to approximately HK$0.0405 for the period. This represents an annualized distribution yield of 8.52%.- As at 30 June 2024, the overall occupancy rate of the properties was 84.0%, unchanged from the previous corresponding period.Guangzhou International Finance Center (GZIFC):- Operating revenue of the GZIFC complex was RMB504 million, accounting for 48.8% of the REIT’s total revenue.- Its office building successfully renewed leases with a number of key tenants, with a renewal rate of 88.2%.- GZIFC Shopping Mall recorded a year-on-year increase of 5% in customer flow.- Four Seasons Hotel saw a significant increase in the proportion of international customers, and Ascott Serviced Apartments' overall operating revenue reached a record high.Yuexiu Financial Tower:- Yuexiu Financial Tower recorded operating revenue of approximately RMB182 million, representing 17.6% of the REIT’s total revenue. The occupancy rate was 82.9%.- In the first half of the year, it successfully secured the lease renewals of key quality tenants. The renovated vacant units recorded a high sell-through rate of 86%. The tenant structure continued to improve.Active management of financing risks and effective reduction of financing costs- With regard to the loans maturing within the year, the Manager planned in advance and introduced an offshore revolving loan of RMB530 million with a fixed interest rate of 3.70% in February and then an offshore loan of HK$1.12 billion from domestic banks in May to refinance the maturing financing during the year so as to ensure effective control of liquidity risk.- Taking advantage of the spread window of the RMB financing cost, the Manager has replaced the existing offshore foreign currency financing with RMB loans. As of the end of June 2024, a total of RMB7.38 billion of financing has been introduced and used to replace Hong Kong dollar financing. The average financing cost was 4.55%, representing a year-on-year decrease of 35 basis points.- The Manager continued to further reduce the exchange rate exposure by adjusting the financing structure and increasing the proportion of low-cost RMB financing where appropriate. As at the end of June 2024, Yuexiu REIT had RMB financing of approximately RMB8,404 million, accounting for 41% of total financing.Mr. LIN Deliang, Chairman, Chief Executive Officer and Executive Director of Yuexiu REIT, said, "In the first half of this year, domestic economic growth was mainly driven by the supply side, while overall effective demand was insufficient and social expectations remained weak. Nevertheless, with a focus on three core business sectors, namely, office buildings, retail, and hotels and serviced apartments, the Manager tapped into demands to find opportunities in light of market trends, conducted analyses in relevant challenges and difficulties encountered in different business sectors to work out resolutions and seek breakthroughs, and implemented effective leasing strategies and operational measures to navigate through the competitive market conditions, gearing up all efforts to achieve satisfactory results for Unitholders."Guangzhou International Finance Center (GZIFC)In the first half of the year, GZIFC withstood the downward pressure in the office market and successfully renewed leases with a number of key tenants such as the British Consulate, Zurich General Insurance, Youngy Group and the CBD Administrative Committee, achieving a renewal rate of 88.2% and effectively securing high-quality customer resources. It continued to optimize the tenant structure by introducing a number of renowned enterprises, including Celue Law Firm, Shengang Securities and CPEP, and also further expanded the lease of an existing tenant, Guan Ling Law Firm, with an additional area of 1,071 sq.m. In order to attract quality customers requiring large spaces, GZIFC has proactively promoted the integration of units and improved the leasing efficiency of high-rise floors. Currently, there is a full-floor unit with a total area of approximately 10,000 sq.m. for which business negotiations with potential clients are underway.GZIFC Shopping Mall actively adjusted its business categories, took the initiative to remove tenants with low effectiveness in generating the anticipated market rent, and optimized its specialty catering mix. In the first half of the year, it introduced the first novelty bakery brand “INCUBATOR” in Zhujiang New Town, the first directly operated “Subway” flagship store in Guangzhou, the high-end coffee brand chain “M Stand”, and the trendy snack retailer “CURIOUS SNACKS”, continuously enhancing the variety and popularity of brands in the shopping mall. In terms of promotion, GZIFC Shopping Mall organized a marketing campaign of “Cantonese Music Festival & Liquor Bazaar & Dancing Party to celebrate its eighth anniversary, while expanding its promotional influence and coverage. The shopping mall recorded a year-on-year increase of 5% in customer flow in the first half of the year.Four Seasons Hotel maintained its leading position in the local luxury market, and was awarded the “Forbes Travel Guide Five-star Hotel” for the ninth consecutive year. In the first half of the year, the average occupancy rate was 79.0%, and the proportion of international customers increased significantly, effectively filling the gap of the decline in domestic market demand. The average room rate was RMB2,214, an increase of 0.5% year-on-year. Ascott Serviced Apartments leveraged the competitive advantage of the differentiated product of its large-sized apartments in the short-term rental market and achieved a significant breakthrough with a record high overall operating revenue. The average occupancy rate in the first half of the year was 90.5%, an increase of 0.2 percentage point year-on-year; the average room rate was RMB1,134, an increase of 3.0% year-on-year. With a high competitive RevPAR index of 146.3, the apartments maintained a leading position in the competitive market and remained a top player among its peers.Yuexiu Financial TowerIn the first half of the year, Yuexiu Financial Tower concluded lease renewal contracts for a total of 7,454 sq.m. and successfully secured the lease renewals of key quality tenants such as Everbright Securities, Guoyuan Securities, SHZQ Futures and Minmetals Land. Additionally, it successfully retained three customers who did not renew their leases upon expiration by offering alternative solutions such as relocation to another floor and reduction of the leased area. The renovated vacant units recorded a high sell-through rate of 86%, with the successful introduction of a major law firm brand “Digtech Law Firm” and two renowned premium financial institutions, marking a continuous improvement in the tenant structure.White Horse BuildingWhite Horse Building, benchmarked against high-quality brands in the competitive market, stepped up its efforts in customer engagement and retention, with a focus on solving the operation and optimization issues of floors and units at risk of vacancy. Driven by the dual driver of tenant acquisition and stabilization, the average occupancy rate maintained at a high level of 95.7% in the first half of the year. In the first half of the year, White Horse Building innovated its marketing strategy, continued to collaborate with government and industry resources, and implemented a series of projects to expand its brand influence. By participating in CHIC Shanghai and organizing the Infinite Form 2024 Autumn/Winter Order Fair, the White Horse brand has expanded its coverage at home and abroad.Fortune Plaza and City Development PlazaFortune Plaza further optimized its tenant structure by successfully introducing C&S Paper, an industry-leading company, and “Ke Jun”, a Hong Kong-style restaurant, to seamlessly occupy a street-facing shop on the first floor. City Development Plaza successfully introduced a government-owned sports service agency and leased approximately 2,500 sq.m. of vacant space, which led to a year-on-year increase of 5.8 percentage points in occupancy rate. In addition, leases with key customers such as Konica Minolta and WUYIGE Certified Public Accountants were successfully renewed, contributing to a relatively high renewal rate of 87.9% in the first half of the year.Victory PlazaVictory Plaza made a breakthrough in signing a lease for a specific unit that required greater efforts in attracting business, successfully introduced a financially sound beauty brand, and recorded 1,033 sq.m. of new leases in the first half of the year. The management team actively sought external resources for Victoria Plaza to facilitate new product launches and promotional arrangements of its major tenants, which helped boost the business performance of Uniqlo. Based on holiday consumption patterns in the first half of the year, the team was able to stimulate in-store consumption, resulting in a year-on-year increase of 14% in customer flow in the first half of the year.Shanghai Yue Xiu TowerIn the first half of the year, it recorded 3,400 sq.m. of newly contracted space, successfully introduced well-known companies including Chang’an Ford and Taiping Insurance, and renewed leases with high-quality customers including Access World and Sulzer. In view of the insufficient effective leasing demand and low number of visitors in the Zhuyuan area, Shanghai Yue Xiu Tower proactively expanded its tenant acquisition channels and optimized and improved its products by selecting key units for premium furnishing and refurbishing undecorated units, thereby increasing the number of visitors and improving the signing rate.Wuhan PropertiesIn the first half of the year, the project recorded 17,000 sq.m. of newly contracted space and successfully renewed leases with high-quality customers including Luzhou Laojiao, AVIVA-COFCO and Guangdong Guangxin. Faced with various difficult conditions in the Wuhan market with a low net absorption rate and high vacancy rate, Yuexiu Fortune Centre reviewed its leasing policies and pricing strategies in a timely manner, adjusted the commission policy and actively expanded business acquisition channels, focusing on identifying high-quality customers in the same area and attracting more visitors through the channels of the five major banks, while also strengthening risk control.Starry Victoria Shopping Centre continued to optimize various business formats for its portfolios. In the first half of the year, it successfully signed contracts with brands including Xiaomi, Yinxingkong (隱星空) and New Oriental, resulting in a higher proportion of training/education and retail space. By continuously optimizing different business formats for its portfolios, it has revitalized the overall retail atmosphere. The shopping mall recorded a year-on-year increase of 37.6% in customer flow and a year-on-year increase of 16.2% in sales in the first half of the year.Hangzhou VictoryHangzhou Victory effectively resolved the risk related to the termination of large-area leases, as it succeeded in attracting tenants to sign new contracts covering two entire floors in the first half of the year, with effective rents 20% and 12% higher than the previous contracts, respectively. In terms of lease renewal management, it successfully renewed leases with existing high-quality customers including Shanxi Road & Bridge, Bank of China and Yiqiwan, ensuring the stable operation of the existing high-quality customers.ProspectsIn the second half of 2024, the Manager is expected to invest more than RMB38 million to actively promote asset appreciation projects in order to achieve value preservation and appreciation of properties. Regarding financing, the Manager will take a series of liquidity management measures to manage the annual interest rate at a reasonable level and monitor the foreign exchange risk. In light of the interest rate continuing to remain high, the refinancing strategy will continue to focus on replacing foreign currency financing with low-cost domestic RMB financing. The Manager will also maintain a prudent financial policy to ensure that it can meet the operational needs and the distributions of Yuexiu REIT.– End –About Yuexiu Real Estate Investment TrustYuexiu Real Estate Investment Trust ("Yuexiu REIT") was listed on the Hong Kong Stock Exchange of Hong Kong Limited on 21 December 2005 and is the first listed real estate investment trust only investing in properties in the People's Republic of China (the "PRC") in the world. The current property portfolio comprises ten high quality properties, namely Guangzhou International Finance Center, White Horse Building, Fortune Plaza, City Development Plaza, Victory Plaza, Yuexiu Financial Tower in Guangzhou, Yuexiu Tower in Shanghai, Wuhan Properties in Wuhan (including Wuhan Yuexiu Fortune Centre and Starry Victoria Shopping Centre), Victory Business Centre in Hangzhou and Yuexiu Building in Hong Kong, with a total area of ownership of approximately 1.184 million sq.m. All properties are located in the central business district of Guangzhou, Shanghai, Wuhan, Hangzhou and Hong Kong respectively. The categories of the properties include Grade-A offices, commercial complexes, retail business, hotel, serviced apartments and professional clothing market etc.For media enquiries:Strategic Financial Relations LimitedVicky Lee Tel: +852 2864 4834Phoebe Leung Tel: +852 2114 4172Lilia Yang Tel: +852 2864 4833Email: sprg_yx@sprg.com.hkWebsite: http://www.sprg.com.hk Copyright 2024 ACN Newswire via SeaPRwire.com.

Capitalising on the rapid growth in the buying and trading of Whisky Casks to discerning investors and consumersCombining the industry-leading knowledge and expertise of the Whisky Cask Club founder, Alex Knight and SMI’s Mark Bedingham’s, the former regional Managing Director (Asia Pacific) of Moet Hennesy, extensive global industry knowledgeSINGAPORE, Aug 15, 2024 - (ACN Newswire via SeaPRwire.com) - SMI Vantage Limited (SGX: Y45) (“SMI” or the “Company”), a Singapore-based investment and management company listed on the mainboard of the SGX is pleased to announce the acquisition of a controlling interest in Whisky Cask Club (“WCC”). This move marks a significant step in SMI Vantage's strategy of investing in innovative businesses with high growth potential.Whisky Cask Club is a premier brokerage firm based in Singapore, specialising in the investment and trading of casks of rare and ultra-premium whisky. With over 50 years of combined experience in the Scottish whisky industry, the company partners with exclusive suppliers to provide clients access to some of the most sought-after casks available in the market.Mark Bedingham, President and CEO of SMI Vantage, stated, "This is a major acquisition which is transformative for SMI Vantage and is expected to become the leading growth contributor for SMI driving rapid increase in revenues and the overall profitability of the Group. The partnership with Alex Knight will allow considerable growth around the region and beyond from its Singapore base and aligns perfectly with our strategy to diversify into high growth businesses that are immediately revenue and profit generating."Alexander Knight, CEO and Co-Founder of Whisky Cask Club remarked, "Joining forces with SMI Vantage and partnering with its CEO Mark Bedingham will create the conditions for acceleration of the growth path that WCC has been on for the last few years. With Mark’s help, we will look to open several major new international markets and bring the excitement and pleasure of investing in, as well as experiencing, the extraordinary whiskies that we can bring to the world."https://links.sgx.com/1.0.0/corporate-announcements/2RJ2U427QZN8ZI47/815867_20240815_SMI%20Invests%20in%20the%20Whisky%20Cask%20Club.pdf About SMI VantageSMI Vantage Limited is an investment and management company focused on capitalising on strong trends in the new economy, including Food and Beverage related businesses, technology-based SaaS services and other high-tech platforms. Listed on the Main Board of the Singapore Stock Exchange, SMI Vantage Limited has a highly capable and experienced management team with a proven track record in building strong business partnerships and alliances.Whisky Cask ClubThe Whisky Cask Club has a combined 50 years of experience in the Scottish whisky industry. We have partnered with some of the most exclusive suppliers of Scottish whisky to give our clients the most sought-after casks of whisky in the market. In order to be able to sell our clients casks of ultra high-end whisky, the Cask Club has partnered with ACEO Spirits and Whisky who are our official UK Duty representative.For media queries, please reach out to:Waterbrooks Consultants Pte LtdWayne Koo - wayne.koo@waterbrooks.com.sg +65 9338-8166Derek Yeo – derek@waterbrooks.com.sg +65 9791-4707Proud Investor Relations partner:www.waterbrooks.com.sg www.shareinvestorholdings.com www.alphainvestholdings.com Copyright 2024 ACN Newswire via SeaPRwire.com.