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Vietbeauty & Cosmobeauté Vietnam 2025 co-locate with Beautycare Plus: Vietnam’s Leading and Well-Recognized Beauty Trade Event Returns to Ho Chi Minh City

HO CHI MINH CITY, Vietnam, April 1, 2025 /PRNewswire/ — July 24 – 26, 2025 – The premier international beauty trade show, Vietbeauty & Cosmobeauté Vietnam 2025, and Beautycare Plus are set to take place at the Saigon Exhibition and Convention Center (SECC), 799 Nguyen Van Linh, Tan Phu Ward, District 7. This highly anticipated expo will bring together over 3,000 leading global brands from 700 exhibitors, and an expected 12,500 visitors across 17,600 sqm exhibition space. The exhibition unites beauty professionals and industry experts in one place, at the same time, to discover the latest innovations and trends shaping the beauty sector. Organized by Informa Markets Vietnam (SES Vietnam Exhibition Services Company Limited), this highly anticipated expo will bring together over 3,000 leading global brands from 700 exhibitors, and an expected 12,500 visitors across 17,600 sqm exhibition space.

Vietbeauty & Cosmobeauté Vietnam 2025 co-locate with Beautycare Plus
Vietbeauty & Cosmobeauté Vietnam 2025 co-locate with Beautycare Plus

The exhibition spans four key categories: Cosmetic & Perfumery, showcasing skincare, makeup, body care, fragrances; Aesthetic & Cosmetology, featuring medical aesthetics, spa and salon innovations; Supply Chain, covering raw materials, production machinery, and packaging; and Nail & Hair, highlighting hair care, styling tools, and nail artistry. The event also emphasizes natural cosmetics, eco-friendly solutions, beauty supplements, and health supplements that reflect the industry’s sustainability and well-being focus.

Vietbeauty & Cosmobeauté Vietnam 2025 will offer a dedicated buyer program that facilitates one-on-one business meetings between exhibitors and potential partners. These structured networking opportunities will help brands connect with key distributors, retailers, and investors, fostering successful contract negotiations. Alongside this, a series of expert-led conferences will provide valuable insights into market trends, business strategies, and professional development to strengthen the knowledge base of the beauty industry community.

Additionally, Beautycare Plus will be a co-located event with the exhibition, serving as a dedicated zone for the beauty supply chain sector. This specialized collaboration will help the visitors to source for businesses in raw beauty ingredients, packaging, and OEM/ODM manufacturing.

Vietbeauty & Cosmobeauté Vietnam 2025 is the ultimate gateway for brands seeking to expand their presence in the booming Vietnamese and Southeast Asian beauty market. Don’t miss your chance to be part of this dynamic event that is shaping the future of beauty in Vietnam and beyond.

For more information, please visit https://www.vietbeautyshow.com or https://www.cosmobeauteasia.com/vietnam.

To register as visitor, please sign up: https://vbcbv.imasia-passport.com/vi/user/register 

Blokees Officially Announces the Launch of the second season of 3rd BFC Creation Competition: Breaking the Cocoon Season

SHANGHAI, April 1, 2025 /PRNewswire/ — On April 1st, the second season of the third  BFC (Blokees Figures Creator) Creation Competition, themed “Breaking the Cocoon Season,” was officially launched. This year’s competition continues to adopt a dual-track model comprising the “Modification Zone” and the “Photography Zone.” Winners will be selected for Champion, Runner-up, Third Place, and Top 3 in the Popularity Award categories, totaling 12 winning entries.


A new addition for this season is the introduction of the “Season Pass,” which offers exclusive prizes including a “Seasonal Badge,” a “Seasonal Platform,” and a limited edition figure (600 pieces). These rewards are designed to ignite creators’ enthusiasm and foster their creativity.

Participants have the opportunity to earn exclusive prizes by completing tasks outlined in the “Season Pass” during the competition. Additionally, following the submission deadline, a 20-day popularity voting period will enable the top 150 entries to also receive these exclusive rewards.

Furthermore, the BFC Creation Competition has been officially launched on the Blokees group website. It features sections such as “Hall of Fame” and “Season Pass,” showcasing award-winning entries from previous competitions while providing participants with opportunities to complete tasks for seasonal rewards. Players can register through either the official website or via the BFC Figure CLUB WeChat mini-program.

Ye Shanshan, Vice President of Blokees Brand Marketing, announced that by 2025, the BFC event system will evolve into a more comprehensive framework featuring three core components: the online creation competition, the offline Speed Build competition, and a global exhibition of works. This enhanced structure aims to provide a more complete platform for participants worldwide to create and share their talents, enabling every individual to discover their own stage.

In 2025, the third iteration of the BFC Creation Competition encompasses four seasons: “Launch Season,” “Breaking the Cocoon Season,” “Fearless Season,” and “Stellar Season.” The recently concluded “Launch Season” of the third BFC Creation Competition has attracted  over 30,000 submissions.

The volume of BFC creations is witnessing an extraordinary surge, underscoring that the BFC Creation Competition has firmly established itself as a vital platform within the BFC community. This event highlights the creativity and passion of creators from around the world. This remarkable increase is fueled by enthusiasm, as BFC creators redefine what it means to be a figure.

FranklinWH and Middy’s Electrical Forge Strategic Partnership to Power the Future of Home Energy Management in Australia

SYDNEY, April 1, 2025 /PRNewswire/ — FranklinWH Australia Pty Ltd. (FranklinWH Australia), a leader in whole-home energy management solutions, has partnered with Middy’s Electrical, Australia’s largest independent electrical wholesaler. This strategic alliance aims to redefine how Australian homeowners store, manage, and use energy, providing greater energy freedom and sustainability.

Middy’s vast distribution network and expertise in electrical solutions combined with FranklinWH’s state-of-the-art home energy management technology will empower homeowners with greater energy autonomy. As the demand for renewable energy and grid-resilient power grows, this alliance will help accelerate the adoption of whole-home energy storage solutions across Australia.

“We are excited to partner with Middy’s Electrical, a leader in the industry,” said Steve Ruskin, Deputy GM of FranklinWH Australia. “Together, we’re empowering Australians with smarter, safer, more efficient, and reliable home energy solutions that allow them to break free from the grid—optimizing clean energy use, cutting electricity costs, and taking full control of energy.”

Revolutionizing Home Energy Management

FranklinWH’s whole-home energy storage system intelligently coordinates multiple energy sources—solar, grid power, battery storage, generators, and EVs—enabling homeowners to maximize self-consumption, minimize grid dependence, and enhance energy security.

Equipped with intelligent monitoring and control via the FranklinWH App, users can track energy production and use, avoiding peak pricing and hedging against outages—all in real-time.

“With the growing demand for reliable and sustainable energy solutions across Australia, our alliance with FranklinWH allows us to deliver advanced and innovative home energy solution to our customers,” said Matt Young, National TechEnergy Manager. “FranklinWH is the epitome of home energy innovation, Our collaboration marks a significant shift in the market, offering homeowners smarter, more efficient ways to optimize energy supply and maximize clean energy use while equipping installers with top-tier storage solutions.”

A Commitment to Innovation & Sustainability

This partnership reinforces Middy’s dedication to supporting installers and businesses with high-quality energy solutions while expanding FranklinWH’s footprint in the Australian renewable energy market.

To learn more about FranklinWH home energy management solutions, visit www.franklinwh.com.

About FranklinWH

FranklinWH is a market-oriented, research-driven company specializing in next-generation residential energy management and storage solutions. Headquartered in the San Francisco Bay Area, FranklinWH’s team brings decades of expertise in energy system design, manufacturing, and installation. Learn more at franklinwh.com.

About Middy’s Electrical

Middy’s Electrical is Australia’s largest independent electrical wholesaler, proudly family-owned since 1928. With over 100 branches nationwide, Middy’s provides installers and businesses with top-tier products, expert services, and industry-leading support. Visit middys.com.au to learn more.

CONTACT: media@franklinwh.com

PowerChina Spearheads Indonesia’s Sustainable Energy Shift with Groundbreaking Floating Solar Project

BEIJING, April 1, 2025 /PRNewswire/ — A news report from CRIOnline:

In West Java, Indonesia, the Cirata Reservoir is home to a groundbreaking initiative in renewable energy, the Cirata Floating Photovoltaics (FPV) Project, developed by PowerChina. The project stands as Indonesia’s first and Southeast Asia’s largest FPV facility, boasting a capacity of 192 megawatts, making it the deepest project of its kind currently under construction globally. It achieved full operational status when it connected to the grid in November 2023. A joint venture between Indonesia’s state-owned electricity company PLN and the UAE’s Masdar, the project marks a major milestone in the country’s clean energy transition.

The project faced significant engineering challenges. With complex underwater terrain, PowerChina’s team conducted detailed geological surveys and used a novel anchoring system, combining metal shear keys and concrete counterweights to secure the floating arrays. To address the high wind speeds over the water, the team conducted rigorous wind tunnel testing and computational modeling to optimize panel arrangement and structural design for system stability.

During the grid-connection ceremony, Indonesian President Joko Widodo lauded the project as a crucial achievement in realizing the country’s large-scale renewable energy goals. He affirmed Indonesia’s commitment to expanding its clean energy capabilities as part of its broader strategy to achieve net-zero emissions. The Cirata plant significantly contributes to the national grid, supplying 25% of Indonesia’s renewable energy and generating 300,000 MWh annually—sufficient to power 50,000 homes. This initiative also reduces reliance on coal, cutting coal usage by 117,000 tons and decreasing carbon emissions each year.

The success of the Cirata project underscores the importance of global partnerships in advancing sustainable energy projects. Consistent with its commitment to fostering open, inclusive, mutually beneficial, and equitable international cooperation, PowerChina remains a vital player in the development of global sustainable infrastructure.

Frost Radar™ Positions 15 Top Growth & Innovation Leaders in Material Recovery Facilities (MRFs)

Frost & Sullivan’s Benchmarking System Highlights Leading Companies Poised for Growth and Advancing Material Recovery Facilities

LONDON, April 1, 2025 /PRNewswire/ — The global Material Recovery Facility (MRF) market is undergoing significant expansion, driven by the rising demand for efficient waste management solutions, regulatory pressure, and advancements in recycling technologies. As key intermediaries in the circular economy, MRFs play a critical role in optimising resource recovery, minimising waste disposal, and reducing reliance on raw materials.

With sustainability mandates tightening worldwide, the market is witnessing increased investments in facility upgrades, automation, and advanced sorting technologies to enhance processing efficiency and maximise recovery rates.

The global MRF market has seen rapid growth, with Europe and North America leading the expansion. Frost & Sullivan projects the European MRF market, valued at $30.24 billion in 2023, to reach $39.82 billion by 2030, growing at a 4.0% compound annual growth rate (CAGR). This growth reflects ongoing efforts to improve recycling rates and processing capabilities.

Similarly, in North America, the market is expected to expand from $11.90 billion in 2023 to $18.92 billion by 2030, at a CAGR of 6.8%. Growth in this region is being driven by investments in modernising existing facilities, the establishment of new material recovery plants, and the integration of AI-powered automation and energy-efficient solutions.

Emerging markets in Asia, Latin America, and the Middle East & Africa present substantial growth opportunities as governments and industries ramp up investments in material recovery infrastructure and waste collection efficiency.

Competitive Landscape and Key Market Players

The MRF market is characterised by a diverse competitive landscape, with key players implementing innovative approaches to strengthen their market positions. Frost & Sullivan has identified the top 15 companies shaping the future of resource recovery through technological advancements, strategic partnerships, and operational excellence.

North America’s market is relatively consolidated, with leading firms investing heavily in AI and automation to improve transparency and efficiency. In contrast, Europe’s fragmented market is seeing a surge in mergers and acquisitions, largely influenced by stringent regulatory frameworks such as the EU Circular Economy Action Plan.

“As demand for circular economy solutions grows, MRFs are increasingly critical in supporting global sustainability goals. Companies that prioritise decarbonisation, technological innovation, and regulatory compliance are emerging as market leaders,” says Fredrick Royan, Growth Expert at Frost & Sullivan. “Investments in automation, AI-driven sorting, and strategic partnerships will define the industry’s evolution in the coming years.”

The Frost Radar™ highlights the following growth & innovation leaders, setting the benchmark for excellence in material recovery facilities, including TOMRA Recycling, Bollegraaf, Bulk Handling Systems (BHS), Greyparrot AI, Machinex, PICVISA, Recology, Republic Services, Stadler Anlagenbau GmbH, Vecoplan, Van Dyk Recycling Solutions, Veolia, Waste Management (WM), Waste Robotics, and WEIMA Maschinenbau GmbH.

For more insights into the MRF sector and the Frost Radar™ analysis, click here.

About Frost & Sullivan

Frost & Sullivan, the growth pipeline company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation, and leadership. The company’s Growth Pipeline as a Service provides the CEO and the CEO’s Growth Team with transformational strategies and best-practice models to drive the generation, evaluation, and implementation of powerful growth initiatives. Frost & Sullivan leverages over 60 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from more than 40 offices on six continents.

Editor’s Note

To arrange an interview or for any questions, please contact:

Kristina Menzefricke
Marketing & Communications
Global Customer Experience, Frost & Sullivan
kristina.menzefricke@frost.com

Top 10 Growth Opportunities in the Chemicals Sector, 2025

Stricter Regulations, Sustainability Demands, and Digital Innovation to Spur Global Chemicals Industry Transformation

LONDON, April 1, 2025 /PRNewswire/ — The global chemicals industry is poised for major transformation in 2025, driven by stricter regulations, sustainability initiatives, and digital advancements.

As a key player in sectors like home care, electronics, and automotive, the industry faces growing regulatory scrutiny, accelerating innovation toward safer, high-performance alternatives. Companies must strengthen Environmental Health and Safety (EHS) practices, enhance labelling transparency, and meet stricter reporting standards.

Increasing environmental and health regulations will necessitate greater R&D investment to develop cost-effective, compliant solutions while ensuring improved transparency in labelling, reporting, and dosage.

Sustainability remains a key focus, driving innovation in eco-design, decarbonisation, and green claims. Companies investing in R&D to meet global sustainability goals will gain a competitive advantage. High-growth sectors like battery production, green hydrogen, and alternative fuels will fuel demand for novel chemicals, making supply chain stability essential.

Soundarya Gowrishankar, Growth Expert at Frost & Sullivan, reports: “The chemicals industry is shifting toward renewable energy sources like solar and wind, driving demand for sustainable production and distribution. Recycling high-cost chemicals will gain traction, ensuring resource stability while minimising environmental and health impacts.”

“Increased vertical integration between mining and recycling firms will enhance supply chain security, while investments in solid-state battery materials and emerging technologies will open new opportunities,” she adds.

With the rapid global shift toward electrification, businesses will prioritise securing stable raw material supplies through strategic mining investments and partnerships. Vertical integration between mining and recycling firms will become more widespread, with chemical companies playing a critical role in advancing hydrometallurgical processes to enhance resource efficiency and sustainability.

“As regulations tighten and sustainability takes centre stage, chemical companies must innovate and form strategic partnerships to navigate these shifts,” summarises Gowrishankar, Growth Expert at Frost & Sullivan. “Proactive investment in R&D and sustainable practices will define long-term success.”

Click here to unlock growth potential and explore the future of the Chemicals industry.

YOUR TRANSFORMATIONAL GROWTH JOURNEY STARTS HERE. Frost & Sullivan’s Growth Pipeline Engine, transformational strategies and best-practice models drive the generation, evaluation, and implementation of powerful growth opportunities. Is your company prepared to survive and thrive through the coming transformation? Join the Journey

Editor’s Note

To arrange an interview or for any questions, please contact:

Kristina Menzefricke
Marketing & Communications
Global Customer Experience, Frost & Sullivan
kristina.menzefricke@frost.com

AI and Workspace Modernisation Propel Growth in the Global Video Conferencing Devices Sector

10.4% YoY expansion in in 2024 prompted by AI innovation and the return to in-person collaboration

LONDON, April 1, 2025 /PRNewswire/ — The workplace continues to undergo structural transformations, with evolving work styles, AI-powered meeting enhancements, and sustainability initiatives reshaping the demand for collaboration technologies. The adoption of video conferencing devices is expected to surge, as the penetration rate in meeting rooms is expected to more than double over the forecast period, driven by organisations shifting toward video-first communication strategies.

The global video conferencing devices market has made a strong recovery after a decline in 2023, registering 10.4% year-over-year (YoY) growth in 2024 and reaching $3.80 billion in revenue, according to Frost & Sullivan. Fuelled by increasing technology density, advances in AI-driven collaboration, and the modernisation of workspaces, the market is on a trajectory for accelerated growth, as revenue is expected to more than double to $8.12 billion, with unit shipments increasing to 7.7 million by the end of the forecast period in 2029.

AI has emerged as a key market accelerator, eliminating many friction points that previously hindered widespread video adoption. AI-driven innovations – ranging from automated meeting transcription and real-time translation to smart camera framing and noise suppression – are revolutionising video conferencing experiences, making them more seamless, engaging, personalised, and productive.

“The market is witnessing an unprecedented wave of innovation, where AI and data-driven insights are at the forefront,” states Roopam Jain, VP and Growth Expert at Frost & Sullivan. “Beyond simply enabling video in meeting rooms, organisations are prioritising an experiential workplace, where hardware, software, and services are holistically integrated to enhance usability, efficiency, and management,” she continues.

Market Outlook and Leading Growth Segments

In 2024, collaboration bars and boards led the market surge, with room endpoints experiencing the fastest growth, rising 14.7% in revenue and 12.5% in units YoY. Over the next five years, room endpoints are projected to be the largest growth segment, with an expected 18.7% revenue CAGR, followed by USB conference cameras at 9.4% CAGR, and personal video devices at 5.8% CAGR.

The top vendors- Cisco, Crestron, Huawei, Logitech, Poly, Neat, Lenovo, Q-SYS, and Yealink -differentiate themselves through superior innovation and performance, including enhanced user experience, advanced AI-powered features, seamless interoperability, and other competitive attributes. The top five vendors collectively hold 55.6% of the global video conferencing devices market.

“AI-driven collaboration solutions are no longer optional – they are essential for businesses looking to not only modernise, but to future-proof their workplaces,” adds Jain. “Organisations and industry stakeholders must leverage AI-powered video innovations and integrate hardware-software ecosystems to stay ahead in an increasingly competitive market,” Jain concludes.

Click here to unlock growth potential and explore the future of the global video conferencing devices market.

YOUR TRANSFORMATIONAL GROWTH JOURNEY STARTS HERE. Frost & Sullivan’s Growth Pipeline Engine, transformational strategies and best-practice models drive the generation, evaluation, and implementation of powerful growth opportunities. Is your company prepared to survive and thrive through the coming transformation? Join the Journey

Editor’s Note

To arrange an interview or for any questions, please contact:

Kristina Menzefricke
Marketing & Communications
Global Customer Experience, Frost & Sullivan
kristina.menzefricke@frost.com

Dogness Reports Financial Results for the Six Months Ended December 31, 2024

DONGGUAN, China and PLANO, Texas, March 31, 2025 /PRNewswire/ — Dogness (International) Corporation (“Dogness” or the “Company”) (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products,  today announced its financial results for the six months ended December 31, 2024.

Mr. Silong Chen, the CEO of the Company, commented: “We delivered robust financial results for the half year ended December 2024, marked by strong revenue growth, increased operational efficiency, and progress toward profitability. Our revenue reached $12.1 million for the six months ended December 2024, an 81.1% increase from the same period in 2023, driven by high demand across all product categories and regions. Meanwhile, our ongoing efforts on cost management and economies of scale have significantly improved operating results.

“Looking ahead, Dogness aims to accelerate product innovation, expand its global market presence and drive cost efficiencies. The Company plans to acquire smaller pet product manufacturers in China to strengthen supply chain control and operational efficiencies, thereby increasing market share. With a focus on developing sustainable, high-tech pet products and leveraging strategic partnerships, we anticipate further revenue growth, improved profitability and increased shareholder value.”  

Financial Results for the Half Year Ended December 31, 2024

Revenues increased by approximately $5.4 million, or 81.1%, from about $6.7 million for the year ended December 31, 2023 to approximately $12.1 million for the six months ended December 31, 2024. The increase in revenue was primarily attributable to the strong sales performance in both China’s domestic market and international markets, driven by higher demand from existing customers and new customer. 

The following table breaks down Dogness’ revenue by product and service type for the six months ended December 31, 2024 and 2023:

For the six months ended December 31,

2024

2023

Products and services
category

Revenue

Revenue

Variance %

Products

Traditional pet products

$

 

4,660,824

$

 

3,601,676

 

29.4

%

Intelligent pet

4,546,642

2,234,220

103.5

%

Climbing hooks and
others

 

2,878,245

 

761,742

 

277.9

%

Total revenue from
products

 

12,085,711

 

6,597,638

 

83.2

%

Services

Dyeing services

77,049

(100.0)

%

Total revenue from
services

 

77,049

(100.0)

%

Total

$

12,085,711

$

6,674,687

81.1

%

 

─ Traditional pet products

Revenue from traditional pet products increased by approximately $1.1 million, or 29.4%, from approximately $3.6 million for the six months ended December 31, 2023 to approximately $4.7 million for the six months ended December 31, 2024. This growth was driven both higher sales volume and increased average selling prices. Of the revenue growth, $1.0 million came from international sales and $0.1 million from the domestic Chinese market, primarily due to expanded order volumes from customers.

─ Intelligent pet products

Revenue from intelligent pet products grew by approximately $2.3 million, or 103.5%, from around $2.2 million for the six months ended December 31, 2023, to roughly $4.5 million for the same period in 2024, mainly due to increased sales volume. The revenue increase included $1.2 million from international customers and $1.1 million from domestic Chinese customers, primarily from new and existing orders.

─ Climbing hooks and others

Revenue from climbing hooks and other products increased by about $2.1 million, or 277.9%, from roughly $0.8 million for the six months ended December 31, 2023, to about $2.9 million for the same period in 2024. This increase was influenced by higher sales volume and prices. International sales contributed $1.3 million to the revenue increase, while domestic sales accounted for $0.8 million, driven by higher orders.

─ Dyeing service

For the six months ended December 31, 2024 and 2023, the Company earned approximately $Nil and $0.1 million, respectively, for dyeing services.

─ International vs. Domestic sales

Total international sales rose by about $3.4 million, or 75.9%, from approximately $4.5 million for the six months ended December 31, 2023, to about $8.0 million during the same period in 2024, driven by increased orders across all product types.

Domestic sales also saw a significant increase of about $2.0 million, or 92.0%, from around $2.1 million in 2023 to approximately $4.1 million in 2024. In the domestic market, sales of traditional pet products, intelligent pet products, and climbing hooks increased by 16.2%, 109.2%, and 198.5%, respectively, compared to the previous year.

Cost of revenues increased by $3.3 million, or 61.6%, from approximately $5.4 million for the six months ended December 31, 2023, to approximately $8.7 million for the six months ended December 31, 2024, due to a significant increase in sales volume. As a percentage of revenues, the cost of goods sold decreased by approximately 8.7 percentage points to 71.7% for the six months ended December 31, 2024, compared to 80.4% for the six months ended December 31, 2023.

Gross profit rose by approximately $2.1 million, or 160.7%, from about $1.3 million for the six months ended December 31, 2023, to around $3.4 million for the same period in 2024. This increase resulted from higher sales volume and average selling prices. The overall gross profit margin improved to 28.3%, up 8.7 percentage points from 19.6% in the previous period.

Total operating expenses increased by approximately $0.7 million or 14.6%, to about $5.6 million for the six months ended December 31, 2024, compared to around $4.9 million for the same period in 2023.

─ Selling expenses

Selling expenses increased by about $0.1 million, or 18.0%, from approximately $0.5 million for the six months ended December 31, 2023, to approximately $0.6 million for the six months ended December 31, 2024. This rise was driven by an increase in marketing research activities. Selling expenses accounted for 5.2% of total revenues in 2024, compared to 7.9% in 2023.

─ General and Administrative Expenses 

General and administrative expenses rose by approximately $0.4 million, or 11.3%, from about $3.9 million for the six months ended December 31, 2023, to roughly $4.3 million for the same period in 2024. This increase was primarily attributable to office decoration costs at our new Dongguan facility. As a percentage of sales, these expenses decreased to 35.7% in 2024 from 58.0% in 2023.

─ Research and Development Expenses

Research and development expenses increased by $0.2 million, or 37.0%, from approximately $0.5 million for the six months ended December 31, 2023, to about $0.7 million for the same period in 2024. These expenses were 5.5% of total revenues in 2024, down from 7.3% in 2023. We anticipate continued growth in research and development as we expand our efforts to use environmentally friendly materials and develop new high-tech products to meet customer demand.

Net loss decreased by approximately $1.4 million, or 43.2%, from about $3.2 million for the six months ended December 31, 2023, to approximately $1.8 million for the six months ended December 31, 2024, as a result of the foregoing.

About Dogness

Dogness (International) Corporation was founded in 2003 from the belief that dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness’ technology simplifies pet lifestyles and enhances the relationship between pets and pet caregivers. The Company ensures industry-leading quality through its fully integrated vertical supply chain and world-class research and development capabilities, which has resulted in over 200 patents and patents pending. Dogness products reach families worldwide through global chain stores and distributors. For more information, please visit: ir.dogness.com. 

Forward Looking Statements

No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the “safe harbor” under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, trade policies affecting our business including tariffs on our products, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China and the U.S., our ability to attract and retain highly skilled professionals, client concentration, industry segment concentration, reduced demand for technology in our key focus areas, our ability to successfully complete and integrate potential acquisitions, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Dogness may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

For investor and media inquiries, please contact:
Wealth Financial Services LLC
Connie Kang, Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)

 

 

 

DOGNESS (INTERNATIONAL) CORPORATION

CONSOLIDATED BALANCE SHEETS

(All amounts in USD)

(Unaudited)

As of

December 31,

As of
June 30,

2024

2024

ASSETS

CURRENT ASSETS

Cash and cash equivalents

$

6,057,762

$

6,956,434

Accounts receivable from third-party customers, net

3,298,433

2,269,341

Accounts receivable from related party

311,713

582,182

Inventories, net

3,228,661

3,119,827

Due from related party

101,491

97,037

Prepayments and other current assets

3,374,352

3,328,189

Advances to supplier- related party

50,908

Total current assets

16,372,412

16,403,918

NON-CURRENT ASSETS

Property, plant and equipment, net

60,593,968

61,303,327

Operating lease right-of-use lease assets

15,679,000

16,325,988

Intangible assets, net

1,744,340

1,780,856

Long-term investments in equity investees

1,507,000

1,513,600

Deferred tax assets

1,972,480

1,873,140

Total non-current assets

81,496,788

82,796,911

TOTAL ASSETS

$

97,869,200

$

99,200,829

LIABILITIES AND EQUITY

CURRENT LIABILITIES

Short-term bank loans

$

890,500

$

894,400

Current portion of long-term bank loans

900,936

759,339

Accounts payable

2,264,565

1,286,981

Accounts payable – related party

12,913

Due to related parties

71,994

518,003

Advances from customers

224,676

264,832

Taxes payable

1,029,282

1,007,482

Accrued expenses and other current liabilities

1,504,502

1,452,225

Operating lease liabilities, current

2,279,655

2,352,482

Total current liabilities

9,179,023

8,535,744

NON-CURRENT LIABILITIES

Long-term bank loans

2,845,274

3,315,715

Operating lease liabilities, non-current

11,150,861

10,938,477

Total non-current liabilities

13,996,135

14,254,192

TOTAL LIABILITIES

23,175,158

22,789,936

Commitments and Contingencies (Note 6)

EQUITY

Class A Common shares, no par value, unlimited shares
authorized; 3,661,658 issued and outstanding as of
December 31, 2024 and June 30, 2024

92,403,766

92,004,296

Class B Common shares, no par value, unlimited shares
authorized; 9,069,000 issued and outstanding as of
December 31, 2024 and June 30, 2024

18,138

18,138

Statutory reserve

291,443

291,443

Accumulated deficit

(7,207,552)

(5,391,709)

Accumulated other comprehensive loss

(10,811,795)

(10,511,317)

Equity attributable to owners of the Company

74,694,000

76,410,851

Non-controlling interest

42

42

Total equity

74,694,042

76,410,893

TOTAL LIABILITIES AND EQUITY

$

97,869,200

$

99,200,829

 

 

DOGNESS (INTERNATIONAL) CORPORATION

STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(All amounts in USD)

(Unaudited)

For the Six Months Ended

December 31,

2024

2023

Revenues–third party customers

$

12,085,711

$

6,573,379

Revenues – related parties

101,308

Total Revenues

12,085,711

6,674,687

Cost of revenues – third party customers

(8,668,552)

(5,280,923)

Cost of revenues – related parties

(82,835)

Total Cost of revenues

(8,668,552)

(5,363,758)

Gross Profit

3,417,159

1,310,929

Operating expenses:

Selling expenses

624,410

529,021

General and administrative expenses

4,312,486

3,873,442

Research and development expenses

665,494

485,849

Total operating expenses

5,602,390

4,888,312

Loss from operations

(2,185,231)

(3,577,383)

Other income (expense):

Interest income (expense), net

6,884

(113,690)

Foreign exchange transaction gain

114,443

32,469

Other income, net

41,357

80,891

Rental income from related parties, net

107,737

148,406

Total other income, net

270,421

148,076

Loss before income taxes

(1,914,810)

(3,429,307)

Income taxes benefit

(98,967)

(231,756)

Net loss

(1,815,843)

(3,197,551)

Less: net loss attributable to non-controlling interest

(934)

Net loss attributable to Dogness (International)
Corporation

(1,815,843)

(3,196,617)

Other comprehensive loss

Foreign currency translation adjustments

(300,478)

1,666,560

Comprehensive loss

(2,116,321)

(1,530,991)

Less: comprehensive loss attributable to non-controlling
interest

(931)

Comprehensive loss attributable to Dogness
(International) Corporation

$

(2,116,321)

$

(1,530,060)

Loss Per share

Basic

$

(0.14)

$

(0.30)

Diluted

$

(0.14)

$

(0.30)

Weighted Average Shares Outstanding

Basic

12,755,658

10,622,663

Diluted

12,755,658

10,622,663

 

 

DOGNESS (INTERNATIONAL) CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(All amounts in USD)

(Unaudited)

For the Six Months Ended

December 31,

2024

2023

Cash flows from operating activities:

Net loss

$

(1,815,843)

$

(3,197,551)

Adjustments to reconcile loss income to net cash provided by
(used in) operating activities:

Depreciation and amortization

1,395,756

1,414,937

Share-based compensation for services

399,470

399,470

Loss (gain) from disposal of property, plant and equipment

176,347

(9,845)

Change in credit losses

(232,600)

111,105

Deferred tax benefit

(108,490)

(275,121)

Amortization of right-of-use lease assets

585,466

591,705

Warrants modification

239,308

Changes in operating assets and liabilities:

Accounts receivable

(824,001)

(682,445)

Accounts receivable-related party

272,429

177,374

Inventories

(121,257)

(359,976)

Prepayments and other current assets

(61,720)

(1,080,158)

Advances to supplier-related party

51,537

126,527

Accounts payables

999,703

425,101

Accounts payables-related party

13,130

Accrued expenses and other current liabilities

24,691

16,516

Advance from customers

(39,639)

104,887

Operating lease liabilities

200,827

188,379

Taxes payable

26,242

159,612

Net cash provided by (used in) operating activities

942,048

(1,650,175)

Cash flows from investing activities:

Purchase of property, plant and equipment

(1,050,711)

(294,828)

Proceeds from disposition of property, plant and equipment

787

56,000

Net cash used in investing activities

(1,049,924)

(238,828)

Cash flows from financing activities:

Net proceeds from exercise of warrants

15,101

Reverse split shares

(810)

Proceeds from short-term bank loans

696,500

691,000

Repayment of short-term bank loans

(696,500)

(885,800)

Proceeds from long-term bank loans

2,625,800

Repayment of long-term bank loans

(316,297)

(2,793,472)

(Repayment of) proceeds from related-party loans

(456,160)

6,498

Net cash used in financing activities

(772,457)

(341,683)

Effect of exchange rate changes on cash and restricted cash

(18,339)

226,388

Net decrease in cash and cash equivalents

(898,672)

(2,004,298)

Cash and cash equivalents, beginning of period

6,956,434

4,483,308

Cash and cash equivalents, end of period

$

6,057,762

$

2,479,010

SUPPLEMENTAL DISCLOSURES OF CASH FLOW
INFORMATION:

Cash paid for interest

$

115,430

$

154,884

Non-Cash Investing Activities

Liabilities incurred (settled) for purchase of property and
equipment

$

34,909

$

(40,251)

Prepaid share-based compensation for services

$

$

(223,000)