- Kicking off the first round of autumn trade fairs, two watch fairs on 3-7 September will bring in 700+ global exhibitors- Themed “Be on Time”, fairs will showcase different styles of wristwatches, parts, accessories, machinery and equipment- Visitors can gain updates on the latest market information and trends through forums, seminars, watch parades and networking events- Salon de TIME will be fully open to the public for the first time to create a globally renowned annual event for the industryHONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Organised by the Hong Kong Trade Development Council (HKTDC), Hong Kong Watch Manufacturers Association Ltd and The Federation of Hong Kong Watch Trades and Industries Ltd, the HKTDC Hong Kong Watch & Clock Fair and Salon de TIME will welcome more than 700 global exhibitors.Themed “Be on Time”, the fairs will feature different styles of wristwatches, parts, accessories, machinery and equipment to provide a one-stop sourcing platform. Under the hybrid EXHIBITION+ model, the physical fairs will run from 3 to 7 September at the Hong Kong Convention and Exhibition Centre (HKCEC), while exhibitors and buyers can meet online through the Click2Match smart business matching platform between 27 August to 14 September.For the first time, Salon de TIME will be fully open to the public for free admission. Sophia Chong, HKTDC Acting Executive Director, said: “This year, the Hong Kong Watch & Clock Fair and Salon de TIME will welcome more than 700 global exhibitors from 15 countries and regions, with new exhibitors from Belgium and Denmark as well as new brands from Greece, Türkiye and the United Kingdom. The two fairs will feature pavilions from Guangdong, Guangzhou, Taiwan as well as South Korea, which is returning after the pandemic, creating globally renowned annual fairs and business opportunities for the industry.”“To explore more new business opportunities, the HKTDC will bring about 80 buying missions from more than 50 countries and regions, including Finland, Germany, Norway, Poland, Russia, Spain, Switzerland, the United Kingdom in Europe; Brazil, Canada and the United States in the Americas; Japan, Singapore, South Korea, Thailand and Vietnam in Asia; and Israel and the United Arab Emirates in the Middle East,” she added.Salon de TIME presents famous global watch brandsSalon de TIME will host more than 130 internationally renowned watch brands and designer collections across five thematic zones: World Brand Piazza, Chic & Trendy, Craft Treasure, Renaissance Moment and Wearable Tech. Some exhibitors will also include retail offerings, allowing them to purchase watches on-site.Numerous styles of watches and accessories to cater to market trends and needsWith sustainability gaining traction in recent years, exhibitors at the two fairs have added a Green Solutions Suppliers label on their products to facilitate sourcing for buyers.Over 20 exhibitors will showcase sustainable watches, including:- German brand Lilienthal Berlin which has launched the world's first watch with a case made of recycled coffee grounds that won the New York Product Design Award, Green Product Award and iF Design Award; - Hong Kong exhibitor Gordon C. & Company Limited, which uses sustainable and biodegradable materials to manufacture watch cases and straps.Wearable tech with smart monitoring technologyThe Paris Olympics has prompted more interest in sport, fitness and wearable tech, providing opportunities for innovative watchmakers. This year’s Wearable Tech zone, led by the Federation of Hong Kong Watch Trades and Industries Ltd and more than 10 companies, will feature a complete industry supply chain, while showcasing software, accessories and the latest technology. Companies taking part include German brand Oskron, which has developed Link2Care, a new wireless monitoring solution for health data, and United Wealth Holdings Limited, which has developed a smart watch incorporating smart movement from Huawei that can also monitor health data.World Brand Piazza – luxury showcase of 10 international watch brandsWorld Brand Piazza, sponsored by Prince Jewellery & Watch for the 14th consecutive year, will present some exceptional luxury watches from 10 international brands: Baume & Mercier, Bovet, Corum, CVSTOS, DeWitt, Franck Muller, Kerbedanz, Montblanc, Parmigiani Fleurier and Sarcar.Watches include Golden Bridge Dragon from Swiss brand Corum. This wristwatch features an 18-carat gold dragon at its core, while the dragon’s eyes, tail and watch body are inlaid with diamonds, pearls and gemstones, respectively. The watch’s 18K gold rectangular movement is composed of more than 190 parts, reflecting its craftsmanship and HK$2.153 million price tag.The showcase also features Swiss brand Bovet’s 7-day Skeleton Tourbillon. The hands on the back side of the dial are reverse-fitted, so they can turn clockwise, using Bovet's proprietary and patented system. This watch is priced at HK$2.136 million.The two fairs will also feature watches and accessories with a range of styles and personalities that can match different market needs:- International Luxury Group returns with 15 international brands, such as Kenneth Cole, Police and Timberland. Among them, the American brand Kenneth Cole launched an automatic movement watch, which uses exquisite screws to embellish the internal structure of the dial and is equipped with a stainless-steel strap. - Hong Kong watchmaking brand ANPASSA features a wristwatch that can be combined with AR technology to present a unique Kowloon Walled City look. - Swiss brand ROMAGO is collaborating with Pokémon to launch a limited edition set of 250 watches. - A limited-edition tourbillon from Hong Kong’s Memorigin uses rare meteorites and a newly developed ultra-thin pearl tourbillon automatic movement to create its Explorer series watch, with a 39mm diameter and a thickness of just 9.9mm.- Swiss classic brand Solvil et Titus presents its Barista Collection of watches with exquisite design and retro style. The barrel-shaped watch body is equipped with an arched glass surface, reflecting the brand's belief that strong emotions brew over time. - Present, a watch and jewellery brand with oriental characteristics, is committed to bringing traditional craftsmanship and culture into the present, with its On the Love of Lotus concept.Unique craftsmanship from European watchmakersSwiss Independent Watchmaking Pavilion (SIWP) and Francéclat are returning this year, presenting 17 international brands. These include:- Pilo & Co Genève, founded by independent Swiss watchmaker Amarildo Pilo. The company has launched Corleone Evoluzione Superleggera, a unique piece with a domed and bevelled sapphire crystal, an ultra-light alloy, a meteorite dial and automatic chronograph movement. - French brand Montignac will present its Marina Capsule series of diving watches, which are made in France and water-resistant to a depth of 200m. The watch body is equipped with a unidirectional bezel and luminous coating, which can track diving time and depth.Nine major zones for buyersThe Watch & Clock Fair is made up of nine zones. The Pageant of Eternity zone showcases high-end OEM and ODM watches, while other zones cover complete watches, pre-owned watches, clocks, machinery and equipment, OEM smart watches, packaging & display, parts and components and trade services.Forums and seminars explore industry trendsVisitors can also gain first-hand market information and updates on the latest industry trends through forums, seminars, watch parades and networking events.At the Hong Kong International Watch Forum on 3 September, global watch association representatives will provide an overview of global trade and industry trends with their insights and visions on reshaping the global watch industry towards sustainability.At the Asian Watch Conference on 4 September, global market research agency Euromonitor International (Hong Kong) will analyse the latest market developments around this year’s theme, “The Infinite Possibilities with Watches”. Mr Frank Chen, Sales Director of Module of Huawei Device BG, and Mr Pierre Burgun, CEO of Pierre Lannier, will discuss the prospects of health monitoring and innovative practices for wearable tech as well as the latest trends for stylish wristwatches.On 5 September, Dr James Chung-Wai Cheung, Research Assistant Professor and Member of Research Institute for Smart Ageing of The Hong Kong Polytechnic University, and Mr Michael Ertl, CEO and Founder of ME & Friends AG, and Mr Paul Anthony Yuen, Secretary General of The Federation of Hong Kong Watch Trades & Industries Ltd., will explore how age-forward technology can empower the ageing population to maintain independence and embrace a more connected, active lifestyle.In addition, the HKTDC, The Federation of Hong Kong Watch Trades & Industries Ltd and the Hong Kong Watch Manufacturers Association Ltd are jointly organising the 41st HK Watch & Clock Design Competition to cultivate a new generation of watch designers and technicians and to promote innovation and continued development in watch design.The competition has two categories – Go Beyond Innovation for the Open Group and Talent Moment for the Student Group. The Made-to-Sell Award is also newly added to recognise student entries with market potential. Artist Benjamin Yuen has been invited as a guest judge this year.Award-winning works and finalists will be exhibited during the fairs, while the award ceremony will be held on 7 September at The Dial in Hall 3FG of Salon de TIME.A variety of events, lucky draws and workshop for the publicAt Salon de TIME, Mr Carlos Koo, Founder of CK Engraving and Metal Engraving Artist, will demonstrate the art of watch engraving. Watch influencers Billy Chan and Ko Sir will reveal their views into generational mindsets and offer insights on investing in luxury timepieces respectively.Mr Gary Ching, Founder of ANPASSA, will host a workshop titled “Watchmaking 101 Craft Your Own Timepiece”. A series of product launches and watch parades will be featured with celebrities, including table tennis players Doo Hoi-kem and Wong Chun-ting who just represented Hong Kong in the Paris Olympics, Hong Kong singer Aka Chio, YouTuber Jeffrey Fok and more.Visitors can also participate in lucky draws and join Smart Bidding to bid on their desired watches starting at a 90% discount off the retail price.In addition, Asia’s premier fashion event CENTRESTAGE will be held from 4 to 7 September at the HKCEC, showcasing designer brands from around the world. Visitors can view the latest products from more than 380 watch and fashion brands at the same venue.Export performance, Hong Kong watches and clocks:Q2, 2024Q1, 2024Change per quarter41.334.3+7Retail sales, Hong Kong watches and clocks*:20232022Change per yearHK$32.5 billionHK$25.6 billion+27%*Data from EuromonitorPhoto download: https://bit.ly/3MoUWCZThe HKTDC Hong Kong Watch & Clock Fair and Salon de TIME take place on 3-7 September at the Hong Kong Convention and Exhibition Centre. Introducing fair highlights at a press conference are Sophia Chong, HKTDC Acting Executive Director (4th from left), Eric Lai (3rd from left) and Edmond Ng (4th from right), Co-Chairmen, HKTDC Hong Kong Watch & Clock Fair Organising Committee 2024. Hong Kong exhibitor Gordon C. & Company Limited uses sustainable and biodegradable materials to manufacture watch cases and straps. German brand Oskron has developed Link2Care, a new wireless monitoring solution for health data. Sponsored by Prince Jewellery & Watch for the 14th consecutive year, World Brand Piazza presents rare watches from 10 international brands, including Corum’s Golden Bridge Dragon and BOVET’s 7-day Skeleton Tourbillon.Swiss classic brand Solvil et Titus presents its Barista Collection of watches with exquisite design and retro style. The barrel-shaped watch body is equipped with an arched glass surface, reflecting the brand's belief that strong emotions brew over time.Hong Kong watchmaking brand ANPASSA features a wristwatch that can be combined with AR technology to present a unique Kowloon Walled City look.Swiss brand ROMAGO collaborates with Pokémon to launch a limited edition set of 250 watches.Pilo & Co Genève, founded by independent Swiss watchmaker Amarildo Pilo, has launched Corleone Evoluzione Superleggera, a unique piece with a domed and bevelled sapphire crystal, an ultra-light alloy, a meteorite dial and automatic chronograph movement. The 41st HK Watch & Clock Design Competition has two categories – Go Beyond Innovation for the Open Group and Talent Moment for the Student Group. Award-winning works and finalists will be exhibited during the fairs.Dancers at the press conference showcase 27 selected timepieces. Websites:Hong Kong Watch & Clock Fair: https://www.hktdc.com/event/hkwatchfair/enSalon de TIME: https://www.hktdc.com/event/te/enMedia enquiriesPlease contact the HKTDC’s Communications & Public Affairs Department: Johnny TsuiTel: (852) 2584 4395Email : johnny.cy.tsui@hktdc.orgBubble MaTel: (852) 2584 4369Email : bubble.ma@hktdc.orgAbout 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. Copyright 2024 ACN Newswire via SeaPRwire.com.

Fuyao Glass Industry Group Co., Ltd. Announced the 2024 Interim Results

Ogos 29, 2024

Financial Highlights for the First Half of 2024- On a consolidated basis, revenue was RMB18,339.730 million, representing an increase of 22.01% as compared with the corresponding period last year, which was above the level of the industry growth;- Profit attributable to owners of the Company was RMB3,498.318 million, representing an increase of 23.36% as compared with the corresponding period last year;- Earnings per share was RMB1.34, representing an increase of 22.94% as compared with the corresponding period last year.HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Fuyao Glass Industry Group Co., Ltd. (“Fuyao Glass” or “the Company”; Stock Code: 600660.SH, 3606.HK) is pleased to announce the unaudited interim results of the Company and its subsidiaries for the six months ended June 30, 2024 (“Reporting Period”).Seizing market opportunities, securing robust growth in both revenue and profitsIn the first half of 2024, as the global economic growth slowly recovered, the international situation was complex and volatile, and the geopolitical conflicts intensified, the stability of the global industrial chain and supply chain still be challenged. China’s automobile industry showed growth in key economic indicators along with the trade-ins and the introduction of local supporting policies. According to the statistics released by the China Association of Automobile Manufacturers, automobile production volume and sales volume from January to June 2024 amounted to 13.891 million units and 14.047 million units, representing a year-on-year increase of 4.9% and 6.1%, respectively.The Company seized market opportunities, leading manufacturing upgrades through technological innovation, while enhancing efficiency with digital upgrades. High-quality development steadily advanced, and profitability has further improved. During the Reporting Period, the Company, on a consolidated basis, realized revenue of RMB18,339.730 million, representing an increase of 22.01% as compared with the corresponding period last year, which was above the level of the industry growth; realized profit before tax of RMB4,125.070 million, representing an increase of 24.27% as compared with the corresponding period last year; realized profit for the Reporting Period attributable to owners of the Company of RMB3,498.318 million, representing an increase of 23.36% as compared with the corresponding period last year; and realized earnings per share of RMB1.34, representing an increase of 22.94% as compared with the corresponding period last year.During the Reporting Period, the Company’s profit before tax increased by 24.27% as compared with the corresponding period last year. Excluding the losses from foreign exchange and the reduced investment revenue resulting from Taiyuan Jinnuo Industry Co., Ltd.’s termination of provisions pertaining to the transfer of the remaining 24% equity interest in Fuyao Group Beijing Futong Safety Glass Co., Ltd. , the profit before tax increased by 59.96% as compared with the corresponding period last year.Enhancing comprehensive competitiveness with outstanding performance of high value-added productsDuring the Reporting Period, the Company carried out work according to the Group’s business strategy centered on “continuously creating values for customers” with the market-oriented approach, the support of technological innovation and the protection by standardised management, to ensure the improvement of the comprehensive competitiveness of the Company.In terms of product quality, the Company conducted strict quality control at every stage, from product design, procurement of raw materials, production and manufacturing to finished product warehousing, thus ensuring the quality and reliability of its products and effectively preventing and controlling quality issues.In terms of supply, the Company improved global supply assurance capability. And it planned and laid out a comprehensive global supply system in advance according to industry trends; the Company also continuously innovated and optimized the production process, shortening the time from product input to warehousing, building flexible and agile production capabilities to ensure the global delivery and capacity, achieving mutual achievements and growth with the automobile industry.In terms of innovation capability development, the Company has continuously increased innovation efforts in technology, management and other areas. The proportion of high value-added products such as intelligent panoramic skylight glass, dimmable glass, head-up display glass, ultra-insultating glass, lightweight ultra-thin glass, coated heatable glass, tempered laminated glass has continued to grow, rising by 4.82 percentage points compared to the corresponding period last year, reflecting their value.In terms of sales, the Company always put customer needs first, insisted on rapid response and efficient service, established a high level of trust with customers, focused on creating value for customers, and built Fuyao’s sales organization, thus improving its sales management capabilities, increasing market expansion efforts and broadening sales channels.In terms of team building, the Company adhered to the people-oriented principle, ensured competitive employees’ benefits, promoted the humanities construction of Fuyao and established good discipline and work style, and built a more active and efficient international team.The Company stated: “The global economy will remain tough in the second half of 2024, and economic growth will continue to be confronted with multiple risks and challenges. In this regard, Fuyao will be prudent in every step of its operation: to strictly control the quality of products and new product development in all aspects, refine work process, make good use of the ‘one-vote veto system for quality’, and further create a good quality culture, form the work atmosphere where everyone cares about and values quality; to continues to optimize the Company’s production process, and establish agile management and flexible production mechanisms so as to ensure the global delivery and service, as well as high quality development while expanding its business scale; to continue to strengthen technological innovation, increase investment in R&D, accelerate the speed of R&D, promote product upgrades, and enhance Fuyao’s core competitiveness, with the focus on new materials, new processes, new technologies and cross-disciplinary cooperation; to enhance digital construction by digitizing operations, creating digital platforms, and making platforms intelligent and practically applicable, and ensure that data from various areas of the actual business process is transparent, shared, understandable, and useful, thereby leveraging the efficiency of digitization; to continue to play a leading role in sales, establish an all-round sales management mechanism, make efforts in multiple markets at home and abroad, expand new customers, stabilize regular customers, optimize the level of service, improve customer satisfaction and enhance corporate competitiveness; to continuously increase efforts in talent cultivation, train professionals in new technologies, management, automation, digitization and internationalization, implement staff development, strengthen organizational effectiveness, and improve corporate image and brand value.”- END -About Fuyao Glass Industry Group Co., Ltd.Established in 1987 in Fuzhou, China, Fuyao Group (Fuyao Glass Industry Group Co., Ltd.) is a large multinational conglomerate specialising in automotive safety glass, which was listed on the main board of the Shanghai Stock Exchange in 1993 (A-share code: 600660) and on the Hong Kong Stock Exchange in 2015 (H-share code: 3606), forming an “A+H” model with both domestic and overseas capital platforms.The Company is principally engaged in providing total solutions of safety glass and automotive accessories for various transportation vehicles, including design, manufacture and sale of automotive grade float glass, automotive glass, locomotive glass, luggage racks, vehicle window trims and provision of relevant services. The business model of the Company is globalized research and development, design, manufacture, distribution and after-sales services. Adhering to its brand development strategy of maintaining an industry-leading position in technology and quickly responding to market changes, the Company works with its customers on product design, manufacturing and rendering of services, focuses on improving its business ecological chain and responds to the ever-changing demand of customers systematically, professionally and rapidly, thus creating value for its customers. Copyright 2024 ACN Newswire via SeaPRwire.com.

Noah Holdings Announces $50M Share Repurchase, Signaling Confidence in Overseas Growth

Ogos 29, 2024

HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors, today announced its unaudited financial results for the second quarter of 2024.Noah recorded total net revenue of RMB 616 million in the second quarter of 2024. The wealth management business generated net revenues of RMB 416 million, while the asset management business reported net revenues of RMB 192 million.Strategically Overseas Expansion and Comprehensive investment SolutionsNoah’s overseas expansion is gaining momentum as client demand for global asset allocation strengthens, with overseas net revenue contribution increasing to 46.3% in the first half of 2024 and asset under management increasing 14.1% year-over-year during the quarter. Noah also raised US$ 338 million for overseas private equity, private credit, and other primary market funds year-to-date, a significant 40.2% year-over-year increase.Income from operations was RMB 134 million, an increase of 10.3% sequentially, with an operating margin of 21.8%, an increase from 18.7% in the first quarter of 2024. These results directly reflect the early success of Noah’s strategic transformation as it implements effective cost control measures, restructures its domestic business, and accelerates its expansion overseas."The pace of our overseas expansion is gaining momentum," said Zhe Yin, the Chief Executive Officer of Noah Holdings. "Our team of overseas relationship managers directly supporting this expansion grew 101.8% year-over-year and 24.2% sequentially during the quarter. While we are still in the relatively early stages of our overseas expansion, these results reflect the direction we are headed in going forward.”“Domestically, we are focused on stabilizing operations by streamlining our branch network to reduce overhead costs and adjusting our client service model to comply with evolving regulatory requirements by separating relationship and business development managers into different independent business units. While these initiatives may temporarily impact business activity over the next few quarters, they will ensure our ability to effectively and compliantly serve clients with a comprehensive portfolio of products in the long term. I am pleased with the progress we have made this quarter in expanding overseas, and confident in both our long-term growth potential and ability to consistently generate returns for shareholders."As of June 30, 2024, the number of overseas registered clients increased by 6.7% sequentially 23.0% year-over-year to 16,786, further reflecting the growing demand for overseas asset allocation. Notably, the number of overseas diamond and black card clients saw an even more substantial year-on-year increase of 14.2%.The Company also observed a shift in product preferences, a trend that aligns with the forward-looking strategies outlined in Noah's Chief Investment Office’s (CIO) house view. Interest in investment products increased substantially as a result of expectations for a potential Federal Reserve rate cut during the second half of the year. Known for its expertise and ability to offer clients alternative investments on a global basis, Noah is uniquely positioned to capitalize on this opportunity to grow its USD AUA.As of June 30, 2024, Noah’s overseas relationship manager team grew to 113, a 24.2% increase sequentially. This expansion reflects Noah’s commitment to building a robust presence in key international financial hubs, and enhances its ability to serve high-net-worth clients with comprehensive global investment solutions.Prioritizing Shareholder Interests and Delivering Sustained ReturnsAs part of its commitment to enhancing shareholder returns, the board of directors of the Company authorized a share repurchase program under which the Company may repurchase up to US$50 million of its American depositary shares or ordinary shares, effective immediately. The authorized term for carrying out this share repurchase program is two years.Noah announced in November 2023 that a new capital management and shareholder return policy (the “Policy”) had been adopted, pursuant to which up to 50% the Company's non-GAAP net income attributable to shareholders of the preceding financial year will be allocated to a Corporate Actions Budget which will serve various purposes, including dividend distribution and share repurchases. The share repurchase program announced on August 29 2024 does not form a part of the Corporate Actions Budget under the Policy. The Corporate Actions Budget based on Noah’s financial performance in 2024 is expected to be determined and announced alongside the Company’s earnings results for the fourth quarter and full year ending on December 31, 2024.Ms. Jingbo Wang, co-founder and chairwoman of Noah, commented, “This share repurchase program, along with the dividend payout we just completed, reflects our unwavering commitment to prioritizing shareholder interests and delivering sustained returns. While China’s wealth management industry is navigating a challenging period and undergoing a transition, we remain confident in Noah’s unique advantages stemming from our deep understanding of Mandarin-speaking high-net-worth individuals’ (HNWI) needs and our ability to deliver products and services to this still-growing client base. We are one of a few independent firms that maintains access, through years of investor education, to a large group of qualified individual investors who continue to seek professional services.”“As such, we believe that our stock is deeply undervalued and does not reflect our growth prospects, robust balance sheet and cash reserves, or the special bond we have formed with the Mandarin-speaking HNWIs globally. We value both our long-term and new shareholders and are committed to sharing our success with them through more proactive capital allocation policies moving forward.”Strengthening Commitment to ESG PrinciplesIn the first half of 2024, Noah published its 10th Annual environmental, social, and governance (ESG) report, highlighting its decade-long commitment to corporate responsibility and sustainable practices. Additionally, Gopher Asset Management, Noah's asset management arm, also joined the latest Nature Responsible Management initiative, Spring, announced by Principles for Responsible Investment (PRI) in 2024, reinforcing its role in driving responsible investment practices in order to halt and reverse biodiversity loss by 2030.By aligning with the PRI, Noah reaffirms its commitment to integrating ESG factors into its investment processes, fostering sustainable and responsible investment practices that benefit all stakeholders.Noah continues to adapt and evolve amidst a challenging market environment. The Company’s strategic initiatives, focused on global expansion, technological innovation, and sustainable practices, are beginning to yield tangible results, laying a strong foundation for continued success in the years to come.- END - Copyright 2024 ACN Newswire via SeaPRwire.com.

ACN Newswire

Reitar Logtech Holdings Limited (RITR) Successfully Listed on Nasdaq

Ogos 29, 2024

HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Reitar Logtech Holdings Limited ("Reitar Logtech") (NASDAQ: RITR) has officially listed on the Nasdaq stock market on August 23, 2024. This marks an important milestone in the company's internationalization, also signifies Reitar Logtech's commitment to driving the formation of smart logistics ecosystem, injecting new momentum into the industry.Founded in 2015, Reitar Logtech provides end-to-end logistics solutions by integrating real estate, logistics operations, and innovative technologies through two main segments:1. Asset management and consulting services - They source and develop logistics properties, enhance asset value through technology, and connect with suitable logistics operators.2. Construction management and engineering design - They provide project management services for logistics property development.Reitar Logtech's one-stop model allows them to deeply understand customer needs, provide tailored solutions, lower operating costs, and optimize overall logistics operations. As a pioneer in the PLT (property + logistics technology) space in Hong Kong with over 20 years of industry expertise and strong relationships with key players.The company serves both logistics operators (3PLs) and capital partners investing in logistics real estate projects. Reitar Logtech help 3PLs with property procurement, licensing, and strategic planning. The company help capital partners to source, develop, and manage logistics assets to maximize value. Reitar Logtech's integrated approach and deep industry knowledge are their key competitive advantages in the concentrated Hong Kong logistics services market.Reitar Logtech raised funds through its initial public offering (IPO) to accelerate product R&D, expand its global business footprint, and continuously optimize service quality. Going forward, Reitar Logtech will strive to consolidate its leadership position in the smart logistics field, partnering with global partners to drive the digital transformation of the supply chain, and lead the smart logistics industry into a new era of development, creating greater value for customers. Copyright 2024 ACN Newswire via SeaPRwire.com.

Noah Holdings Announces $50M Share Repurchase, Signaling Confidence in Overseas Growth

ACN Newswire

IBA of San Marino Partners with crwdunit for Advanced Quantum Ledger and Commodity Solutions

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MClean Technologies Reports Strong 177% Growth in Profit Before Tax for Q2 FY2024

Ogos 28, 2024

MALAYSIA, Aug 28, 2024 - (ACN Newswire via SeaPRwire.com) - MClean Technologies Berhad ("MClean Technologies" or the "Company"), an established provider of precision cleaning and surface treatment solutions, is pleased to announce its financial results for the second quarter ended 30 June 2024 (“Q2 FY2024”). The Company has recorded its second consecutive profitable quarter in the financial year ending 31 December 2024 (“FY2024”), marking a significant turnaround in its financial performance.Datuk Dr. Terence Tea Yeok Kian, the Executive Chairman and Managing Director of MClean Technologies BerhadFor Q2 FY2024, MClean Technologies reported revenue of RM15.5 million, a 30% increase compared to RM12.0 million in the same quarter last year (“Q2 FY2023”). This increase in revenue is largely attributed to stronger demand for the Company’s precision cleaning and surface treatment services. Notably, the Company achieved a profit before tax (“PBT”) of RM1.0 million, a substantial improvement from the loss before tax of RM1.1 million in Q2 FY2023, due to higher revenue in the current quarter and the successful implementation of cost management initiatives.Comparing to the immediate preceding quarter (“Q1 FY2024”), MClean Technologies recorded an 18% growth in revenue from RM13.1 million to RM15.5 million, driven primarily by increased demand for its precision cleaning services. In tandem with this revenue growth, the PBT of the Company surged by 177% in Q2 FY2024, compared to RM0.4 million PBT in Q1 FY2024.For the first six months of FY2024 (“6M FY2024”), MClean Technologies reported revenue of RM28.7 million, a 19% increase compared to RM24.0 million in the same period last year (“6M FY2023”), primarily due to stronger demand for precision cleaning and surface treatment services. The Company’s PBT for 6M FY2024 stood at RM1.3 million, marking a remarkable turnaround from the loss before tax of RM2.2 million in the corresponding period of FY2023. This growth underscores the consistent demand for MClean’s services, particularly in the Hard Disk Drive (HDD) and consumer electronics sectors.With the entry of the new substantial shareholder, Accrelist Crowdfunding Pte. Ltd., a wholly-owned subsidiary of Accrelist Ltd. (“Accrelist”), on 2 July 2024, which currently holds 28.5% stake in MClean Technologies, MClean Technologies aims to leverage on the strategic partnership opportunity that is presented by Accrelist’s extensive expertise in business transformation and growth.Accrelist, listed on the Catalist Board of the Singapore Exchange, is a diversified group with interests in medical aesthetics and injection moulding services, held through its subsidiary, Jubilee Industries Holdings Ltd, which is also listed on the Catalist. With the entry of this new shareholder, MClean Technologies is exploring various synergistic strategies to increase market share, expand customer and sector opportunities, and deepen cost-efficiency efforts through enhanced expertise and talent resource utilisation.Datuk Dr. Terence Tea Yeok Kian, Executive Chairman and Executive Director of MClean Technologies said, “We are very pleased with our performance in the second quarter of 2024, which marks our second consecutive profitable quarter in the current financial year. The strong financial results reflect the hard work and dedication of our team, as well as the strategic decisions we have made to enhance operational efficiency. The successful turnaround of the company demonstrates our commitment to building sustainable growth and profitability. Our focus remains on sustaining this positive momentum and achieving long-term profitability. We are particularly encouraged by the growth in demand for our HDD solutions in Malaysia and Thailand, and we will continue to leverage our strengths to deliver value to our shareholders.”Looking ahead, MClean is dedicated to maintaining its positive momentum and focusing on long-term profitability. The management team is confident that the Company's strategic initiatives, combined with ongoing cost management efforts, will position MClean for continued success in the quarters to come.As of 27 August 2024, the share price of MClean Technologies had closed at RM0.29 as at 5:00 P.M., representing a market capitalisation of RM57.2 million.This press release should be read in conjunction with the full text of the announcement released by MClean Technologies on 27 August 2024 in relation to its interim financial statements for the quarter and six months ended 30 June 2024 which is available on the Bursa website.ABOUT MCLEAN TECHNOLOGIES BERHADMClean Technologies Berhad, is a leading provider of surface treatment, precision cleaning, and packaging services. The Company serves a diverse range of industries, including Hard Disk Drive, Consumer Electronics, and Oil & Gas. With operations in Malaysia, Singapore, and Thailand, MClean is committed to delivering high-quality and reliable services to its clients. For more information, visit http://www.mclean.com.sg/.For more information, please contact:Jazzmin WanTel: +60 17-289 4110Email: j.wan@swanconsultancy.bizStephanie ChowTel: +60 18-314 3933Email: s.chow@swanconsultancy.biz Copyright 2024 ACN Newswire via SeaPRwire.com.

Everbright Grand China Announces 2024 Interim Results

Ogos 28, 2024

HONG KONG, Aug 27, 2024 - (ACN Newswire via SeaPRwire.com) - Everbright Grand China Assets Limited ("Everbright Grand China" or the "Group"; HKEX stock code: 03699.HK), a subsidiary of China Everbright Group, principally engaged in the businesses of property leasing, property management and the sales of properties held for sale, announced its interim results for the six months ended 30 June 2024 ("Reporting Period").During the Reporting Period, the Group's revenue amounted to approximately RMB23.9 million, representing an increase of approximately RMB1.8 million as compared to the same period of last year (2023: RMB22.1 million). The increase in revenue was mainly attributable to the increase in revenue from management services. Profit attributable to equity shareholders of the Company amounted to approximately RMB11.4 million (2023: RMB13.3 million), representing a decrease of approximately RMB1.9 million as compared to the same period of last year, which was attributable to the decrease in valuation gains on investment properties. Basic earnings per share was approximately RMB0.03 (2023: RMB0.03). Considering that the current operating environment remains relatively challenging, the Board declared an interim dividend of RMB0.78 cents (equivalent to HK$0.85 cents) (2023: RMB1.06 cents (equivalent to HK$1.16 cents)) per ordinary share for the six months ended 30 June 2024 as a token of appreciation to shareholders for their continuous support. In the second half of the year, the Company will decide on dividend distribution taking into account factors such as business development needs, financial performance and capital position, as well as performance growth, in order to bring the best return to the Company's shareholders and investors.In 2024, following two consecutive years of slowdown, the global economy is in the process of returning to a "normal" state, although growth remains relatively subdued with weakening momentum. Challenges such as interest rate hikes in Europe and the United States, decreasing inflation, and geopolitical risks have added uncertainties to the outlook for recovery. Despite this, the Chinese economy began the year positively in the first half of 2024. While growth momentum has softened, economic operations have remained relatively stable, showing signs of gradual improvement. The Group primarily manages commercial properties and has been attentively monitoring market developments and actively deploying strategies to carefully assess market conditions, adjust rental rates reasonably and seize opportunities to develop new tenants.Property LeasingThe continued recovery in consumer spending is set to become the core driver of economic growth in China in 2024, boosting demand for leasing in the commercial property sector. During the Reporting Period, rental income amounted to approximately RMB16.3 million (2023: RMB16.2 million), representing an increase of approximately RMB0.1 million as compared to the same period of last year. During the period, the average occupancy rate of the properties was approximately 77% (2023: 73%).Property Management ServiceFollowing unprecedented economic challenges, the development strategy of property management enterprises has undergone a significant transformation. Their strategic direction has become more prudent, shifting away from blind pursuit of scale expansion. The Group emphasizes the refinement and enhancement of service quality while adopting a "stabilize before expand" approach, aiming to maintain stable cash flow and business growth. During the Reporting Period, revenue from property management services amounted to approximately RMB7.6 million (2023: RMB5.9 million), representing an increase of approximately RMB1.7 million as compared to the same period of last year, which was mainly attributable to the increase in revenue from value-added management services.Investment PropertiesAs at 30 June 2024, the fair value of investment properties amounted to RMB962.3 million (31 December 2023: RMB959.5 million). The valuation gain on investment properties for the six months ended 30 June 2024 amounted to RMB1.0 million (2023: RMB5.4 million), representing a decrease of approximately RMB4.4 million as compared to the same period of last year.As at 30 June 2024, the Group held cash and bank balances of approximately RMB223.3 million (31 December 2023: RMB222.2 million). The Group's gearing ratio (measured as the Group's total liabilities divided by total assets) was 18.1% (31 December 2023: 18.6%) with a solid liquidity position.In the first half of 2024, the Group's tenant and leasing contracts and occupancy rates continued to remain stable. Meanwhile, the Group maintained a healthy financial position with zero debt and strong cash flow during the period under review. In light of the promising domestic and international environment, the Group will continue to focus on property investment in the future, and prudently identify suitable new investment projects with potential for long-term returns.ProspectsAs innovation in the digital economy continues to progress, China is actively driving its digital transformation. Property management companies are undergoing hardware upgrades and software enhancements to leverage intelligent technologies for operations simulation, optimized staffing, and the proactive advancement of industrial transformation. These enterprises have successfully implemented digital operations across various scenarios. With the ongoing evolution of technologies like artificial intelligence, it is anticipated that property management companies will soon experience the practical application of these advanced technologies, potentially elevating their service quality and management capabilities to new levels.Looking forward, the Group intends to uphold a prudent business strategy, emphasizing quality and steady progress. In additon, it will actively align with national policies, carry out effective initiatives to maintain market value, prioritize risk management and internal controls, and strive to generate long-term and sustainable value for shareholders. By actively adapting to national policies and industry shifts, the Group aims to expand its brand influence within the property management sector, ultimately creating greater societal value.- End - Copyright 2024 ACN Newswire via SeaPRwire.com.

ACN Newswire

AAC Technologies’s CFO Guo Dan: Expects 15% Growth in Revenue of Main Business

Ogos 27, 2024

HONG KONG, Aug 27, 2024 - (ACN Newswire via SeaPRwire.com) - On August 22, AAC Technologies (02018.HK) held its 2024 interim results presentation in Hong Kong, delivering remarkably impressive performance.According to the Interim Report, in the first half of 2024, AAC Technologies achieved a revenue of RMB 11.25 billion, hitting a new high since its listing, with a year-on-year revenue growth of 22.0% and a gross profit margin of 21.5%, up by 7.4 percentage points year-on-year. The net profit amounted to RMB 537 million, representing a significant increase of 257.3% year-on-year. Notably, PSS, which was announced to acquire last year, contributed a consolidated revenue of approximately RMB 1.5 billion in the first half of the year, with a gross profit margin of approximately 25.0%.During the interview, Ms. Guo Dan, the CFO of AAC Technologies stated that in the first half of 2024, all business segments of AAC Technologies made positive progress, significantly enhancing profitability and maintaining a continuous growth in gross profit margin. More importantly, the performance of the interim results indicated the potential growth value brought by the Company’s strategic transformation. It is expected that the operating revenue of the Group (excluding PSS) for the year will increase by 15% compared to last year. Additionally, the consolidation of PSS is expected to contribute approximately RMB 3 billion. Overall, the total revenue of the Group for 2024 is projected to grow by over 30% year-on-year, with a gross profit margin in the range of 22% to 25%.Benefitting from the surge in AI smartphone upgrades in the next 1-2 yearsAt the interim results presentation, AI smartphones took center stage as a key topic. Guo Dan believes that AI smartphones are still in the early stages, with software-driven enhancements propelling hardware upgrades. There has already been a trend of increased shipments and overall improvement in ASP for product categories such as acoustics, mechanics and microphones. Looking ahead, with the further development of AI smartphones and functionalities, hardware component is expected to continue to advance in the coming years.“AI smartphones have great potential for innovation. In the next 1-2 years, we will see some changes, with an acceleration of changes in the 3-5 year period, bringing us many opportunities and driving multiple product lines,” Guo Dan stated. She cited examples such as new trends in hardware like foldable and ultra-thin form factors, and the Company's unique innovative speakers, and Combo (two-in-one product, which integrates a speaker and an actuator) can better meet market demands.Moreover, AI smartphones have higher power consumption and require better heat dissipation solutions. AAC Technologies has industry-leading advantages from material sourcing to lean manufacturing processes and simulation design. Additionally, as the demand for human-machine interaction in AI smartphones increases, requiring more precise voice commands and functionalities, this will further drive the Company’s MEMS microphone upgrades, boosting prices and profit margins.The Group’s overall gross profit margin is expected to increase to 22%-25% for FY2024Guo Dan revealed that with the seasonal impact of more new product releases in the second half of the year, performance is expected to be stronger than the first half. It is anticipated that the full-year business performance (excluding PSS) will achieve a growth of over 15% compared to last year. With PSS contributing approximately RMB 3 billion, the Group’s revenue in 2024 is projected to grow by over 30% year-on-year, with the comprehensive gross profit margin increasing from 21.5% in the first half of the year to a range of 22%-25%.“Since the second half of last year, the entire industry has entered a healthy trend of increasing specifications and configurations. The Company has seen improvements in ASP and overall profit margins in areas such as acoustics, optics, and mechanics,” Guo Dan stated. Particularly in the automotive sector, there will be a steady growth trend in the medium to long term. "It can be said that AAC is now a company with multiple growth drivers and solutions across various platforms. As we forecast the overall growth for the next few years, we maintain a positive outlook.”The acoustics business is expected to exceed a scale of RMB 10 billion and build a comprehensive user experience across all scenariosGuo Dan mentioned that the gross profit margin of AAC Technologies’ acoustics business has resumed to a healthy growth trajectory. The gross profit margin in the first half of the year was 29.9%, and it is expected to rise to over 30% for the full year.“At the interim results presentation, the Company’s management also discussed how AAC Technologies, originally a micro-acoustic supplier for consumer electronics, has further established industry standards for a comprehensive user experience across all scenarios through the acquisition of PSS. Acoustic solutions will be a key driver for the next phase of growth in the acoustics business. In terms of scale, the acoustics business is the Company’s first to exceed a revenue scale of over RMB 10 billion, and in the next five years, we can expect this important business line with a revenue scale of RMB 20 billion and a sustainable gross profit margin of over 30%.”Definite progress in the WLG projects of multiple key customersIn terms of the optics business, Guo Dan believes that the optics market has transitioned from a relatively competitive state a few years ago to a period of healthy development.The gross profit margin for optics in the first half of the year was approximately 5%, with plastic lens gross profit margin at 16-17%. Shipments of 6P and higher specification lenses accounted for 15%-16% of total shipments, with expectations of reaching 15-20% in the second half of the year. “In terms of value, it has already surpassed 30% or even 35%, which reflects our technical capabilities, customer coverage, and recognition.”Guo Dan disclosed that AAC Technologies’ gross profit for optics will further improve in the second half of the year. “It is foreseeable that the profit for a single quarter will turn positive, with a high probability of occurring in the fourth quarter. Overall profitability will see significant improvement compared to last year, with continued steady growth in the future.”“Especially with G+P glass-plastic hybrid lenses and WLG lens products, there have been definite advancements in major projects with several key customers,” Guo Dan stated. The industry now widely acknowledges that G+P glass-plastic hybrid lenses are indeed a superior solution. The Company’s unique WLG technology finds applications in areas such as smartphones and automotive, creating value across multiple domains. “Next year, G+P glass-plastic lenses and WLG single lenses will gradually become one of the most crucial technologies and value supports in the entire optics business, with many deliveries to customers aligning with our expectations for WLG technology investments.”The interim results performance reflects the Company’s long-term growth value“Looking at the first half of this year, the electromagnetic actuators and haptic business have already reached a gross profit margin of approximately 30% with the optimization and upgrade of product portfolios on the Android side, and this healthy level is expected to be sustained in the future,” Guo Dan stated. With the boost from the development of new products like actuators and drives, this sector is poised to return to a high-growth trajectory.“At the interim results presentation, the Company's management also mentioned that in the heat dissipation segment, AAC Technologies achieved a business scale of RMB 150 million in the first half of the year, with a gross profit margin of over 30%. With the development of AI-enabled applications, the scale is expected to exceed RMB 1 billion in the future. When combined with precision mechanics, the overall scale could reach RMB 5 billion and potentially even surpass RMB 10 billion in the long term.”“Additionally, the overall gross profit for the sensor and semiconductor business will continue to increase in the second half of the year,” Guo Dan mentioned. Over the next two to three years, driven by factors such as the value enhancement brought by AI smartphones, the advantages brought by the Company’s resource platform, and the increase in self-developed product penetration rates, the sensor and semiconductor business is expected to experience rapid development.Guo Dan concluded, “At the interim results presentation, the management also pointed out that this performance has shown investors that AAC has achieved revenue growth, as well as gross and net profit improvements through strategic transformation at the current stage. However, more importantly, the interim results implied the long-term growth value of each major business line, and we encourage everyone to focus on the certainty of sustained long-term growth.” Copyright 2024 ACN Newswire via SeaPRwire.com.

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