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Bupa Hong Kong Champions Inclusivity as Official Healthcare Partner for the China Hong Kong Paralympic Committee


HONG KONG SAR – Media OutReach Newswire – 28 August 2024 – Championing health, equality, and inclusion, Bupa Hong Kong is proud to announce its role as the Official Healthcare Partner for the China Hong Kong Paralympic Committee, supporting Hong Kong’s Para athletes in their journey to Paris 2024 Paralympic Games.

Bupa Hong Kong champions inclusivity as Official Healthcare Partner for the China Hong Kong Paralympic Committee
Bupa Hong Kong champions inclusivity as Official Healthcare Partner for the China Hong Kong Paralympic Committee

Bupa Hong Kong is glad to support the Hong Kong China Delegation to the Paris 2024 Paralympic Games to compete on the world’s largest stage for para sport. Bupa will also provide on-site healthcare support for Hong Kong Paralympic Day 2024 on December 8, 2024.

Bupa strives to make healthcare better and more accessible for everyone, whether in sports, the workplace, or healthcare. This partnership not only aligns with Bupa’s purpose but also provides us with an opportunity to learn from these remarkable athletes and improve our services.

The President of China Hong Kong Paralympic Committee, Mrs. Jenny Fung Ma Kit Han SBS BBS JP said, “We are thrilled to welcome Bupa Hong Kong as our Official Healthcare Partner. Their commitment to inclusivity and support for our athletes aligns perfectly with our vision and mission of “Building an inclusive world with splendour in Para sports”. This partnership will not only provide support for our team but also inspire Hong Kong to embrace Paralympic Value and celebrate the achievements of our remarkable athletes.”

Fiona Harris, Managing Director of Bupa Hong Kong added, “We are honoured to be the Official Healthcare Partner for the China Hong Kong Paralympic Committee. This partnership aligns perfectly with our purpose of helping people live longer, healthier, and happier lives while making a better world. We are committed to providing unparalleled support to these extraordinary athletes and celebrating their remarkable achievements.”

This partnership is also part of Bupa’s broader commitment to advancing sports inclusivity and making a positive impact in the world. Bupa has demonstrated similar support in other countries, backing the Paralympic teams of Spain, Poland, Chile, Great Britain, Australia, and New Zealand. This global commitment underscores our unwavering dedication to creating a better world for all. Our diverse sports sponsorships, including the USRC Rugby Club and the global All Blacks team, reflect our commitment to promoting health, wellness, and equal opportunities for all athletes.
Hashtag: #Bupa #BupaHongKong #ParisParalympic #Healthcare #HongKongChinaTeam

The issuer is solely responsible for the content of this announcement.

Bupa – A health insurance specialist

Bupa is an international healthcare group dedicated to helping people live longer, healthier, happier lives and making a better world for over 70 years. We serve more than 38 million customers worldwide. With no shareholders, we reinvest our profits into enhancing healthcare for the benefit of current and future customers.

Bupa has been a health insurance specialist in Hong Kong since 1976, offering one-stop solutions across domestic and international health insurance, and healthcare services. Our comprehensive medical insurance schemes are tailored to meet individual needs, and we provide health solutions for companies of all sizes. We also have a team of registered nurses, health management professionals, and doctors who provide various expert healthcare support.

Our healthcare provision arm, Quality HealthCare Medical Services (QHMS), became part of Bupa in October 2013. QHMS offers Western Medicine, Traditional Chinese Medicine, Diagnostics & Imaging, Dental, Physiotherapy, Mental Health and Wellness services via a network of over 1,650 provider service points in Hong Kong.

For more information, visit .

Arrow Electronics and onsemi to Showcase Autonomous Mobile Robot Platform for Smart Manufacturing Applications at PCIM Asia


SHENZHEN, CHINA – Media OutReach Newswire – 28 August 2024 – Arrow Electronics is collaborating with onsemi to showcase Autonomous Mobile Robot (AMR) platform at PCIM Asia, a leading exhibition in power electronics in the fields of intelligent motion, renewable energy and energy management, scheduled in Shenzhen, China from 28th to 30th August 2024.

Arrow Electronics and onsemi to Showcase Autonomous Mobile Robot Platform for Smart Manufacturing Applications at PCIM Asia
Arrow Electronics and onsemi to Showcase Autonomous Mobile Robot Platform for Smart Manufacturing Applications at PCIM Asia

A range of the latest smart power supply, motor control, and AI imaging solutions from leading components manufacturers, including NXP, Wolfspeed, and TE Connectivity, will also be on display at Arrow’s booth located in hall 11, #D40. Visitors will gain guidance and insights from technical experts and engineers from Arrow and its technology suppliers on how to rapidly deploy AMR, intelligent power management, and AI imaging technologies for enhancing efficiency, automation, safety, and flexibility in various industries.

AMR innovation transforming industries

Autonomous mobile robots (AMRs) are smart and independent mobile robots designed to operate in dynamic and unstructured environments without constant human guidance in a range of industries, such as manufacturing, logistics, warehouse, medical, and agriculture. The global AMR market[1] is projected to grow at a 22 percent CAGR, reaching USD 9.9 billion by 2032.

“The demand for AMRs is on the rise due to their expanding usage in various industries and the increasing public awareness of their benefits,” said Tony Gao, senior director of Asia Distribution Sales at onsemi. “As a global leader in industrial automation, we offer a variety of autonomous mobile robot-enabled (AMR) solutions from individual components to subsystem designs, such as rugged, high-resolution imaging systems, high-power motor control, and intelligent power solutions. Together with Arrow, onsemi provides the essential building blocks and technological expertise that customers need to adopt reliable, intelligent, and timely AMR solutions for delivering automation benefits.”

Accelerating AMR design and time-to-market cycle

Combining advanced electronics and software technologies, AMRs feature complex designs of sub-systems that allow them to operate autonomously in dynamic environments and learn from their experiences and adapt to different situations over time. The market demands modular, readily deployable solutions that streamline and expedite the design process.

Arrow has collaborated with onsemi to launch this AMR platform which simplifies the complex design process. This AMR platform features the latest image sensing technologies from onsemi, including global shutter camera AR0234, ultrasonic sensor NCV75215, and silicon photomultiplier LiDAR. Motion control is powered by onsemi’s inductive position sensor NCS32100 and 60V, 3-phase NCD83591 BLDC gate driver. TE Connectivity’s heavy-duty connectors offer reliable connection for transmitting power, data and signal in this type of industrial application.

In addition to the AMR platform, Arrow’s booth also features a simulated smart manufacturing conveyor belt demonstrating the following technologies:

1. Smart power supply

  • NXP’s 800W bidirectional power supply reference design
  • Wolfspeed 22kW bidirectional active front end and DC-DC converter built on silicon carbide MOSFETs technology for optimizing high-speed dynamic switching performance
  • Wolfspeed SpeedVal™ Kit modular evaluation platform
  • Arrow’s 6.6kW bidirectional power supply reference design
  • Arrow’s 10kW human machine interface and photovoltaic solar inverter reference design

2. Intelligent time-sensitive networking/EtherCAT motor control from NXP

  • NXP i.MX RT1180 Crossover dual-core, real-time microcontrollers featuring an Arm® Cortex®-M7 and Arm® Cortex®M33 for high performance and real-time functionality
  • Arrow development kit for rapid prototyping

3. Turnkey IO-link solutions

  • STMicroelectronics/Arrow’s all-in-one IO-link Master 4-port MCU (ARW-IOLM4P-STM32L4)
  • 8 ports IO-link master hub and 8 ports digital input/output solutions for industrial, building, factory automation systems
  • Embedded IO-link protocol, controllers, and transceiver for simplifying product design

4. AI image processing

  • Advanced thermal imaging solution featuring NXP MCX-N9 series high-performance deep learning MCU for precise measurement of human or object surface temperatures with exceptional accuracy
  • AI and machine learning deployments powered by NXP i.MX 93 applications processors for supporting facial recognition, gesture and pose detection, depth detection, object detection and segmentation

“As autonomous mobile robots continue to transform smart manufacturing, advanced technology capabilities across product design, engineering, and manufacturing are required,” said Jacky Wan, Arrow Electronics’ vice president of sales – China and Engineering – Greater China Components. “Our collaboration with a global network of technology suppliers enables us to bring the latest AMR, intelligent sensing, power management, and edge AI solutions to the market. With our comprehensive design tools, engineering resources, and supply chain expertise, we are well positioned to help customers overcome engineering challenges, accelerate design cycle for smart manufacturing applications, and elevate manufacturing and warehouse operations to the next level.”

To learn more about AMR and smart manufacturing solutions, visit Arrow booth in hall 11, #D40 at PCIM Asia or click here for more information.

[1] https://www.custommarketinsights.com/report/autonomous-mobile-robot-market/

Hashtag: #ArrowElectronics




Wechat: arrow-cn

The issuer is solely responsible for the content of this announcement.

About Arrow Electronics

Arrow Electronics guides innovation forward for thousands of leading technology manufacturers and service providers. With 2023 sales of $33 billion, Arrow develops technology solutions that help improve business and daily life. Learn more at arrow.com.

Laos, Vietnam to Introduce Kip-Dong Cross-Border Payment System

Laos, Vietnam to Introduce Kip-Dong Cross-Border Payment System
Vietnam and Laos Introduce QR Code Payment System for Kip and Dong (photo: Bigstock)

Laos and Vietnam are set to Launch a new payment system enabling direct trade transactions in kip and dong currencies. Starting in September, the cross-border micropayment system will allow Vietnamese consumers to pay in Laos using QR codes.

Prudential Plc Half Year 2024 Results: Progress Continues In 2024


HONG KONG SAR – Media OutReach Newswire – 28 August 2024 – Prudential plc (“Prudential”; HKEX: 2378; LSE: PRU) today announced its financial results for the six months ended 30 June 2024.

Performance highlights on a constant (and actual) exchange rate basis

  • New business profit of $1,468 million. This was up 8 per cent (6 per cent) excluding the effect of interest rate and other economic impacts and up 1 per cent (down (1) per cent) after allowing for these impacts
  • Adjusted operating profit up 9 per cent (6 per cent) to $1,544 million
  • First interim dividend of 6.84 cents per share (2023: 6.26 cents per share on an AER basis), up 9 per cent
  • First tranche of $2 billion share buyback in execution. As at 22 August 2024, 22 million shares have been repurchased for £150 million ($192 million)
  • EEV shareholders’ equity (before minority interests) equivalent to 1,644 cents per share (31 December 2023: 1,650 cents per share on an AER basis). After minority interests EEV shareholders’ equity was 1,575 cents per share.
  • Free surplus ratio of 232 per cent (31 December 2023: 242 per cent) and a GWS shareholder capital surplus over GPCR of $15.2 billion, equivalent to a cover ratio of 282 per cent (31 December 2023: 295 per cent)


Commenting on the Results, CEO Anil Wadhwani, said:

“We entered this year with a clear strategy and a set of outcomes we are confident in achieving by 2027, namely a compounded annual growth rate for new business profit of 15 to 20 per cent and double-digit for cash generation, both measured from a 2022 base. In the first half of 2024, we delivered high quality new business profit growth of 8 per cent alongside increased margins, on an ex-economics basis, and adjusted operating profit up 9 per cent. This followed exceptional growth of 47 per cent (excluding economic impacts) in new business profit for the full year 2023, resulting from the strong rebound in Hong Kong after the removal of Covid restrictions and the opening of the border with the Chinese Mainland. We announced a $2 billion share buyback programme, to return capital to shareholders while we continue to invest in growth opportunities.”

Business commentary
Our resilient performance in the first half of 2024 was achieved having taken steps to reposition our business in the Chinese Mainland ahead of both regulatory and macro-economic changes. We also took decisive action on medical repricing in Indonesia and Malaysia in advance of the market. Other markets such as Singapore, India and Taiwan have performed well given our continued product innovation and expansion of distribution capabilities. Over the past year, we have been gaining momentum in executing our strategy, addressing known challenges, and identifying areas for continued improvement. We are strengthening our capabilities across our pillars and enablers and reinforcing this with senior leadership appointments in key areas of the business. We are focused on more effectively converting new business profit to cash, managing operational variances and seeking to leverage benefits of scale.

In distribution while agency new business profit was lower in the first half of 2024 given the high base effects in the 2023 comparative period in many markets, we are intensifying our efforts on the underlying drivers of agency growth with a focus on quality recruitment, training and embedding PRUForce, our digital agency platform. Bancassurance performed strongly with 28 per cent growth in new business profit in the first half of 2024, excluding the effect of interest rate and other economic impacts, with Hong Kong, Malaysia, Singapore, Taiwan and Thailand being notable markets. We have continued to demonstrate our capital allocation discipline, focusing on quality new business, investment in capabilities and a capital management programme.

Outlook
We have seen a pick up in sales momentum in June, which continues into the second half of the year. In respect of 2024, new business profits are expected to grow at an annual rate consistent with that required to meet our 2022-2027 new business profit growth objective. The structural drivers of growth in Asia and Africa for our industry remain intact, with ongoing strong demand in respect of protection, long-term savings and retirement propositions as broader based economic growth returns to our markets. We continue to be confident in achieving our 2027 financial and strategic objectives.

Half year Change on
Summary performance financials (before non-controlling interests) 2024 $m 2023 $m AER basis CER basis
New business profit 1,468 1,489 (1)% 1%
Operating free surplus generated 983 1,024 (4)% (2)%
Operating free surplus generated from in-force insurance and asset management business 1,351 1,438 (6)% (4)%
Adjusted operating profit 1,544 1,462 6% 9%
IFRS profit (loss) after tax 182 947 (81)% (80)%
30 Jun 2024 31 Dec 2023
Balance sheet financials (after non-controlling interests) Total Per share Total Per share
EEV shareholders’ equity $43.3bn 1,575¢ $45.3bn 1,643¢
IFRS shareholders’ equity $16.2bn 588¢ $17.8bn 647¢
Adjusted IFRS shareholders’ equity $34.7bn 1,262¢ $37.3bn 1,356¢


Notes

The summary financials presented above are the key financial metrics Prudential’s management use to assess and manage the performance and position of the business. In addition to the metrics prepared in accordance with IFRS standards – IFRS profit after tax and IFRS shareholders’ equity – additional metrics are prepared on alternative bases. The presentation of these key metrics is not intended to be considered as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS Standards. The definitions of the key metrics we use to discuss our performance in this press release are set out in the “Definition of performance metrics” section later in this document, including, where relevant, references to where these metrics are reconciled to the most directly comparable IFRS measure. All metrics used by management to assess performance (along with IFRS profit after tax) are before deducting the amount attributable to non-controlling interest. This presentation is applied consistently throughout this announcement.

Balance sheet metrics are presented net of non-controlling interests. For 2024 non-controlling interests include the 49 per cent non-controlling interest in our conventional life business in Malaysia.

New business profit excluding economic impacts (and the movements therein) represents the amount of new business profit for the first six months of 2024 calculated using economics (including interest rates) as at 30 June 2023 and average exchange rates for the first six months of 2024. The percentage change excluding economics excludes the impact of the change in interest rates and other economic movements in the period from that applicable to the new business profit in the first half of 2023, and applies consistent average exchange rates from the first half of 2024.

Hashtag: #Prudential

The issuer is solely responsible for the content of this announcement.

About Prudential plc

Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

Zuellig Pharma enters into an agreement with Regeneron to bring Libtayo® (cemiplimab) to South Korea and Taiwan markets


SINGAPORE – Media OutReach Newswire – 28 August 2024 – Zuellig Pharma, a leading healthcare solutions company in Asia, has announced an exclusive distribution agreement with Regeneron Ireland DAC, a wholly owned subsidiary of Regeneron Pharmaceuticals, Inc. to launch and commercialise Libtayo® (cemiplimab), a fully human monoclonal antibody targeting the immune checkpoint receptor PD-1 on T cells, in South Korea and Taiwan.

Regeneron is a leading biotechnology company that invents, develops and commercialises life-transforming medicines for people with serious diseases. Libtayo® (cemiplimab) is currently approved for first-line monotherapy treatment of advanced non-small cell lung cancer (NSCLC), the treatment of metastatic or locally advanced cutaneous squamous cell carcinoma (CSCC) and recurrent or metastatic cervical cancer in Korea. It is approved for monotherapy treatment of advanced NSCLC in Taiwan.

“We are excited to accelerate the availability of Libtayo® to patients in South Korea and Taiwan. With our proven track record and deep understanding of the complex biopharma environment in Asia, we are uniquely positioned to deliver innovative therapies to patients in the region. This also represents a significant milestone in our mission to make healthcare more accessible and improve patient outcomes, especially in the burgeoning oncology segment,” said CEO of Zuellig Pharma, John Graham.

Libtayo®, which was invented using Regeneron’s proprietary VelocImmune® technology, is currently approved by regulatory authorities in more than two dozen countries for various indications.
Hashtag: #ZuelligPharma #Regeneron #Oncology #Libtayo #Biotechnology #Healthcare #Pharmaceuticals


The issuer is solely responsible for the content of this announcement.

About Zuellig Pharma

Zuellig Pharma is a leading healthcare solutions company in Asia, and our mission is to make healthcare more accessible to the communities we serve. We provide world-class distribution, digital and commercial services to support the growing healthcare needs in this region. The company was started a hundred years ago and has grown to become a multibillion-dollar business covering 16 markets with over 12,000 employees. Our people serve more than 200,000 medical facilities and work with over 450 clients, including the top 20 pharmaceutical companies in the world.

ZP Therapeutics, a division of Zuellig Pharma, is the commercialisation partner of choice for the healthcare industry with offices in 13 markets across Asia and over 2,500 associates. A catalyst in improving patient journeys and healthcare outcomes through commercial excellence, robust in-market capabilities and strong ethical principles, ZP Therapeutics is a trusted partner for expanding patient access and providing innovations to the healthcare community.

For more information, visit:

Jonathan Asherson Appointed as Chairman of POLYTRON.AI and a Board Member of Vizzio Technologies


SINGAPORE – Media OutReach Newswire – 28 August 2024 – Vizzio Technologies is pleased to announce the appointment of Jonathan Asherson, former Chairman of Rolls-Royce Singapore for Asia Pacific, to its Board of Directors. In addition to his board role, Asherson will serve as Chairman of POLYTRON.AI, a Vizzio subsidiary.

Jonathan Asherson
Jonathan Asherson

Jonathan Asherson brings a wealth of experience in technology and engineering, which will be pivotal in steering Vizzio’s strategic direction and innovation. His extensive background aligns with Vizzio’s mission to transform the 3D industry through its advanced rapid 3D mapping workflow. This innovative approach significantly reduces the cost of digital twin creation, setting new standards in the industry compared to traditional LIDAR methods.

Mohd Nor Abu Bakar, Chairman of Vizzio Technologies, commented, “We are thrilled to welcome Jonathan Asherson to our team. His profound expertise and proven track record are in perfect harmony with our mission to revolutionise 3D technology. Jonathan’s belief in the transformative power of our AI-powered 3D modelling and visualisation technology is inspiring. His strategic leadership will be crucial as we continue to innovate and expand. We are confident that his guidance will drive us toward achieving significant advancements and new milestones.”

Jonathan Asherson stated, “After extensive discussions with the Vizzio Board and Management Team, it became clear that Vizzio is a company with immense potential in a robust growth sector. Their dedication to innovation aligns with my vision, and I am excited about the opportunity to contribute to Vizzio’s transformative journey. The synergy between Vizzio and POLYTRON.AI exemplifies the integration of space technology, advanced AI in 3D modelling, and city-scale digital twins. Together, we are set to usher in a new era of AI-first solutions for real-world 3D projects, establishing new industry standards.”

For full press release, visit: https://coda.io/@chiefvizzio/jonathan-asherson-former-chairman-of-rolls-royce-asia-joins-vizz

Hashtag: #VizzioTechnologies #POLYTRON.AI #AITechnology


The issuer is solely responsible for the content of this announcement.

Vizzio Technologies

Vizzio Technologies leads the world in creating detailed 3D city models using satellite imagery and AI. We produce immersive digital twins of cities globally, integrating multi-resolution data and machine learning for real-time insights and modelling. Established in 2020, we have mapped over 1 million square kilometres of urban space, filed 34 patents, and saved 75% of time compared to traditional methods. Our goal is to deliver dimensionally accurate, photorealistic digital twins for every city on Earth, supporting a range of applications from urban planning to security.

Beijing E-Town Creates a Hub for Robotics and Intelligent Manufacturing Industries

BEIJING, CHINA – Media OutReach Newswire – 27 August 2024 – On August 21, the highly anticipated World Robot Conference 2024 (WRC 2024) grandly opened at the Beijing Etrong International Exhibition & Convention Center, once again drawing global attention to the Beijing Economic-Technological Development Area (Beijing E-Town). As the main hub for high-end industries in the capital, Beijing E-Town has fully utilized the platform of WRC to promote the integration of production and conferences, meticulously planning industry connections and project promotions, and conducting in-depth industry forums, visits, exchanges, and project roadshows to facilitate more technological innovation achievements in the development area.

By the second day of the conference, Beijing E-Town had signed a total of 22 key projects, primarily covering two major sectors: the embodied intelligence ecosystem and components + intelligent manufacturing, further enhancing its role as a gravitational field for the robotics and intelligent manufacturing industries.

As the permanent venue of the World Robot Conference, Beijing E-Town has taken this opportunity to deeply engage in the conference, fully showcasing its strength and appeal as the primary hub for high-end industries in the capital. Zhang Qiang, Secretary of the Party Working Committee of the Beijing Economic-Technological Development Area (BDA), and Kong Lei, Deputy Secretary of the Party Working Committee and Director of the Administrative Committee of the Beijing Economic-Technological Development Area (BDA), led teams to meet face-to-face with over ten well-known robot manufacturing companies, international organizations, investment institutions, and scientists from various countries and regions. They listened attentively, investigated the development status of the artificial intelligence industry, and introduced in detail the development and policy situation of Beijing and Beijing E-Town’s AI industry, aligning resource needs, demonstrating sincerity, and seeking cooperation.

Zhang Qiang introduced to the enterprises that Beijing, as the region with the highest density of AI talent, the best innovation foundation, the most complete key links, the largest industry scale, and the strongest competitiveness in the country, has achieved a series of nationally and globally pioneering technological achievements. As a trailblazer for high-quality development in the new era and a “ballast stone” for the capital’s real economy, Beijing E-Town is deeply implementing the national “AI+” strategy and the decisions and deployments of the Beijing Municipal Party Committee and Municipal Government. It positions artificial intelligence as a key engine to vigorously advance the development of new-quality productive forces, fully leveraging its innovative resource advantages to plan and cultivate an AI industry aligned with the industrial system, strongly supporting the construction of Beijing as an international center for technological innovation and the innovative development of future industries.

Kong Lei explained that Beijing E-Town is vigorously building an innovative system that spans from algorithm breakthroughs and model development to scenario creation and industrial transformation, constructing a city of artificial intelligence for the future. The first batch of ten benchmark application scenarios, including “AI + humanoid robots,” is under construction. Here, centered around “large models + big data + massive computing power,” support is provided for building the Beijing Artificial Intelligence Data Training Base to solidify the foundation of the AI industry. Currently, 5000P high-performance intelligent computing power has been put into use, with a planned computing power scale exceeding 10,000P. Relying on the data aggregation platform, a high-quality data zone is being constructed, implementing a “regulatory sandbox” mechanism for data compliance and scenario application for large model training, providing a secure and trustworthy application training environment. Additionally, the Beijing Artificial Intelligence Data Training Base has been established to help large models develop the “strongest brain.”

At the “Embodied Intelligence Industry Trends and Future Development Forum” held on August 22 during the WRC 2024, Beijing E-Town signed agreements with eight companies, including the Beijing Embodied Intelligence Robot Innovation Center, Beijing Chietcom Transmission Technology Co., Ltd., and Beijing Ant Non-standard Technology Co., Ltd., for projects involving a “national-level” embodied intelligence innovation platform that addresses common industry issues, a domestically leading flexible and agile manufacturing service for industrial components to supplement the synergy of high-end manufacturing industries, and the independently developed high-precision reducers that achieve domestic substitution. With this, Beijing E-Town has signed a total of 22 key projects during this year’s robot conference.

With its official renaming from “Beijing Humanoid Robot Innovation Center” to “Beijing Embodied Intelligence Robot Innovation Center” (referred to as the Innovation Center), the national-level embodied intelligence innovation platform will accelerate its development in Beijing E-Town. “In November 2023, with support from the Beijing Municipal Government and attraction from Beijing E-Town, as the first innovation center in China focusing on the core technologies, product development, and application ecosystem of humanoid robots, we registered and settled in E-Town. In April this year, we also launched China’s first general-purpose robot platform, ‘Tiangong,’ achieving the world’s first humanoid running with a full-sized pure electric humanoid robot,” said Xiong Youjun, General Manager of the Innovation Center. “Next, we will focus on tackling major projects in response to the urgent needs of national strategic priorities, creating the world’s first general humanoid robot ‘hardware mother platform’ and the first large model + open-source motion control system ‘software mother platform.’ This will support the development of bodies for multiple application fields, solve ‘bottleneck’ problems that restrict industrial development, lead the high-quality development of China’s robotics industry, and enhance its global competitiveness.”

Seizing the opportunities in the development of embodied intelligent robots, Beijing E-Town has also attracted a number of embodied intelligence ecosystem enterprises, including projects like IAT’s AI.X Lab. Additionally, in the components + intelligent manufacturing sector, Beijing E-Town shows a high-end layout in cutting-edge fields, whether by promoting investment expansion or introducing new partners. Chietcom, which has been established in Beijing E-Town for six years, plans to invest 300 million yuan to build its headquarters, an industrial and humanoid robot high-precision reducer technology research and development center, and an intelligent manufacturing production line. The aim is to establish a globally leading engineering test platform and comprehensive testing platform, aspiring to become a leading R&D and manufacturing center and innovation hub for high-precision reducers for industrial and humanoid robots in China. The Ant Factory, a leading domestic provider of flexible and agile manufacturing services for industrial components, will invest in building a 40,000-square-meter advanced manufacturing base in Beijing E-Town. By 2025, it is expected to establish local service capabilities, significantly reducing the time for local enterprises to process component designs.

Meanwhile, leveraging its spatial carrying advantages, Beijing E-Town Robot Technology Industry Development Co., Ltd., as a platform company, has signed five projects on-site, including the Ti5 humanoid robot project and the Neurocean’s “Dexterous Hand” project, which will be located in the Beijing Robot Industry Park at Courtyard 3, Jinghai 5th Road, Beijing E-Town.

As the permanent venue for the World Robot Conference, Beijing E-Town has formed the “44637” development system, which is guided by four national strategies, consolidates and strengthens four leading industries, comprehensively deploys six future industries, enhances three integrated empowerments, and builds seven supporting systems. Among these, the output value of the robotics and intelligent manufacturing industries is nearly 100 billion yuan. An official from the Beijing Economic-Technological Development Area stated, “With the landing of a new batch of key projects, innovation resources and industry chain support have been further improved, accelerating the gathering of international talents, technology, capital, and other industrial cluster elements. Using the conference as a medium, Beijing E-Town will accelerate the breakthrough development of the robotics and intelligent manufacturing industries, positioning more new-quality productive forces for future industrial layouts.”
Hashtag: #BeijingE-Town

The issuer is solely responsible for the content of this announcement.

Best Mart 360 Interim Results, Revenue recorded double-digit growth

Proposed an interim dividend of HK11.0 cents per share


Highlights:

  • Revenue increased by approximately 10.6% to approximately HK$1,393.7 million as compared with the Corresponding Period Last Year.
  • Gross profit increased by approximately 11.6% to approximately HK$507.9 million as compared with the Corresponding Period Last Year, gross profit margin increased to approximately 36.4%.
  • Profit attributable to owners of the Company increased by approximately 6.2% to approximately HK$122.6 million as compared with the Corresponding Period Last Year.
  • As at 30 June 2024, the Group operated a total of 175 chain retail stores, representing a net increase of 8 stores during the Period under Review
  • Basic earnings per share was approximately HK12.3 cents. The Board recommended the payment of interim dividend of HK11.0 cents per share.


Financial Highlights:

For the 6 months ended 30 Jun
HK$’000 2024 2023 Change
Revenue 1,393,691 1,260,244 +10.6%
Gross profit 507,938 455,147 +11.6%
Gross profit margin 36.4% 36.1% +0.3 p.p.
Profit attributable to owners of the Company 122,567 115,445 +6.2%
Interim dividend per share
(HK cents)
11.0 8.0 +37.5%

HONG KONG SAR – Media OutReach Newswire – 27 August 2024 – Best Mart 360 Holdings Limited (“Best Mart 360” or the “Company”, together with its subsidiaries, the “Group”; stock code: 2360.HK), a leading leisure food retailer in Hong Kong, announced its interim results for the six months ended 30 June 2024 (“the Period under Review”). As the Company changes the financial year end date from 31 March to 31 December, the interim results of the Company covered a six-month period from 1 January 2024 to 30 June 2024 and the corresponding comparative figures covered a six-month period from 1 April 2023 to 30 September 2023. Thus, the comparative figures may not be fully comparable.

During the Period under Review, the revenue recorded by the Group amounted to approximately HK$1,393,691,000, representing an increase of approximately 10.6% as compared to approximately HK$1,260,244,000 for the six months ended 30 June 2023 (the “Corresponding Period Last Year”). Profit attributable to owners of the Company amounted to approximately HK$122,567,000 during the Period under Review (for the six-month period ended 30 June 2023: approximately HK$115,445,000), representing the period-on-period increase of approximately 6.2%.

During the Period under Review, gross profit and gross profit margin of the Group were approximately HK$507,938,000 and 36.4%, representing an increase of approximately 11.6% and 0.3 percentage points, as compared to gross profits of approximately HK$455,147,000 and gross profit margin of approximately 36.1% for the Corresponding Period Last Year, respectively. The increase in gross profit and gross profit margin for sales was mainly due to the Group’s continuous review and adjustment of sales tactics as well as product mix and cost optimization.

During the Period under Review, basic earnings per share of the Group was approximately HK12.3 cents. The Board recommended the payment of interim dividend of HK11.0 cents per share.

BUSINESS REVIEW
CHAIN RETAIL STORES
As at 30 June 2024, the Group operated a total of 175 chain retail stores, including 168 chain retail stores in Hong Kong and 7 chain retail stores in Macau, respectively. During the Period under Review, the Group follows its store optimisation strategies, which include improving the stocking arrangement, product display and shop appearance, etc., to provide a better shopping experience and enhance the brand image. The Group is persevering its search for stores in various districts to extend its retail coverage.

The Group launched a new global wine and food shop “FoodVille” in 2021, which focuses on medium-to-high-end global quality food products, including fine wines from around the world, premium chocolates, health food, frozen food, western sauces and ingredients, etc., in order to cater to the market’s pursuit of a high quality of life and broaden the Company’s customer bases. As at 30 June 2024, the Group operated 7 shops under the relevant retail brands.

For the six months ended 30 June 2024, the ratio of rental expense (on cash basis) to sales revenue of the Group’s retail stores was approximately 9.5%.

THE PRODUCTS
During the Period under Review, the Group adhered to its global procurement policy by sourcing a broad spectrum of products worldwide to provide a diversified range of choices for customers. For the six months ended 30 June 2024, the Group has sold more than 1,150 brands and over 3,237 stock keeping units (“SKUs”) of products in total, offering customers a diversified range of choices. The Group continues to optimise its product portfolio, phasing out older items to make room for the latest products and flavours, to stay abreast of changes in customer demands.

In order to enrich our product mix, enhance the effectiveness of control over product qualities and supplies and increase profitability, the Group continued to actively develop its private label products during the period. For the six months ended 30 June 2024, sales derived from private label products amounted to approximately HK$234,630,000 (for the six months ended 30 September 2023: approximately HK$192,986,000), accounted for approximately 16.8% of the Group’s overall revenue for the Period under Review.

The Group had a total of 11 private labels and 228 SKUs of products during the Period under Review, including masks, canned Chinese delicacies, cereals, milk, honey, nuts and dried fruits as well as a wide range of leisure food products.

MEMBERSHIP SCHEME AND MARKETING & PROMOTIONAL ACTIVITIES
As at 30 June 2024, the number of the Group’s registered fans and members was approximately 2,214,680 (30 September 2023: approximately 2,087,700). The number of mobile app members has reached approximately 1,112,031 (30 September 2023: approximately 980,000) as of 30 June 2024.

The Group conducted various marketing and promotional activities during the period which provided customers with a series of special offers for selected quality products from time to time to express our gratitude for our customers’ support and to enhance customer loyalty. Meanwhile, the Group continued to advertise in an all-round manner through television, newspapers, social media platforms and other media, which successfully obtained repeat customers, attracted new customers and greatly promoted the discussions about the Group in the market.

EMPLOYEES
As at 30 June 2024, the number of full-time and part-time employees of the Group was 1,313 (30 September 2023: 1,226). In order to retain staff and to suitably incentivise employees of the Group so as to increase staff cohesion and loyalty, the Group regularly reviews and updates its employee benefit plans and remuneration packages with reference to labour market supply and labour cost trend, as well as individual performance. Staff costs (excluding Directors’ emoluments) of the Group for the six months ended 30 June 2024 accounted for approximately 10.0% of revenue (for the six months ended 30 September 2023: approximately 9.1%).

OUTLOOK
Since last year, to boost the economy, the Hong Kong Government has been promoting the mega-event economy with a view to attracting tourists to Hong Kong by organizing a number of mega-events. However, the Group expects that the retail market will remain sluggish in the short term, and that the market environment will continue to be challenging due to factors such as the high interest rate environment and geopolitical tensions, the local and global economies being in a counter-cyclical state, coupled with the continuous increase in the number of outbound travel of Hong Kong people and the rise of the northbound consumption trend. The Group will closely monitor market changes and make prompt adjustments to its business strategies. We will strictly control costs and expenses, enhance operational efficiency and explore different development opportunities, so as to maximise returns for shareholders and investors.

With the further opening up of cities under the Individual Visit Scheme by the Mainland China from May 2024, visitor arrivals to Hong Kong is expected to increase, hopefully driving a gradual improvement in the local economy. The Group will continue to look for suitable opportunities to expand the shop network of its major retail brand “Best Mart 360˚ (優品360˚ )” and its global wine and food shop “FoodVille” to cater the diversifies demands of different customer segments for quality food products under our “dual-brand” model , while stay on monitoring the operation of the existing stores and make timely adjustments to its operation strategies when necessary.

The Group remains committed to uphold its business mission in offering products with the “Best Quality” and “Best Price” to its customers. We will continue to broaden our supply channels, optimise our sales categories and strive for price competitiveness to attract repeat customers. We will deepen the extension of our business-to-business (B2B) food wholesale business, further enriching the Group’s revenue streams. Furthermore, the Group will endeavor to develop its private label products, aiming not only to satisfy market demand for daily necessities but also to provide customers with a broader range of choices.

Looking ahead, the Group will adhere to a prudent approach to steadily expand our business footprint, maintaining our leading position in the Hong Kong leisure food retail market. Meanwhile, we will proactively explore opportunities for business expansion both in the Mainland China and overseas, thereby delivering stable and sustainable returns for our shareholders.

Hashtag: #BestMart360 #優品360 #InterimResults #中期業績

The issuer is solely responsible for the content of this announcement.

Best Mart 360 Holdings Limited

Best Mart 360 Holdings Limited, mainly operates chain retail stores under the brand “Best Mart 360˚”. It offers wide collection of imported prepackaged leisure foods and other grocery products, principally from overseas. The Group’s business objective is to offer “Best Quality” and “Best Price” products to customers through continuous efforts on global procurement with a mission to provide comfortable shopping environment and pleasurable shopping experience to customers. As at 30 June 2024, the Group operates 175 retail stores that are strategically located at 18 districts in Hong Kong and Macau. In addition, the Group’s new global gourmet store, “FoodVille”, was officially opened in September 2021, which mainly provides globally sourced medium-to-high-end quality food products.