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Eddie Chau Joins Vizzio Technologies’ Board of Directors


SINGAPORE – Media Outreach Newswire – 2 September 2024 – Vizzio Technologies is honoured to announce the appointment of Mr Eddie Chau, a distinguished figure in Singapore’s technology sector, to its Board of Directors.

Vizzio Technologies - Eddie Chau

Eddie Chau, with over three decades of notable achievements in entrepreneurship, technology, and community leadership, brings a wealth of expertise to Vizzio. As Chairman of the Singapore Standard Council’s Coordinating Committee for Cyber Security, Chau has played a pivotal role in shaping Singapore’s cybersecurity landscape.

Chau’s impressive career includes founding six startups, successfully exiting two, and serving as a mentor to numerous startups in Singapore. His commitment to community service is evident through his involvement with various non-profit organisations, including Mount Alvernia Hospital, raiSE, and One Faber Group.

Recognised as the “IT Leader of the Year 2018” by the Singapore Computer Society and inducted into its “Hall of Fame 2022,” Eddie Chau’s accolades highlight his exceptional leadership in technology.

At Vizzio Technologies, Eddie Chau’s strategic insights and extensive network will be instrumental as the company continues to drive innovation and growth in the technology sector. His experience with successful ventures such as e-Cop, Brandtology, and V-Key underscores his ability to identify and capitalise on emerging opportunities.

We extend a warm welcome to Eddie Chau and look forward to achieving new milestones with his expertise guiding our future endeavours.
Hashtag: #VizzioTechnologies #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.

Alarming Surge in Fragility Fractures Underscores Urgent Need to Address Osteoporosis Crisis in Hong Kong

The Osteoporosis Society of Hong Kong (OSHK) Launches Groundbreaking Clinical Guidelines to Combat Growing Public Health Burden


HONG KONG SAR – Media OutReach Newswire – 1 September 2024 –

Alarming Burden of Fragility Fractures in Hong Kong
The burden of osteoporosis in Hong Kong has reached alarming levels, with a staggering 51.2% surge in fragility fractures over the past 14 years. The number of cases has skyrocketed from 5,596 in 2004 to 8,465 in 2018. Even more concerning is the 30.9% rise in the most serious type of fracture – hip fractures – which have increased from 4,002 to 5,241 cases during this period.

Prof Cheung Ching-lung, President of The Osteoporosis Society of Hong Kong and Dr Ip Tai-pang, Chairperson of The Osteoporosis Society of Hong Kong (OSHK) Guideline Task Group, are urging immediate attention to the rapidly increasing cases of osteoporosis in Hong Kong. They recommend the implementation of DXA screening across the territory to reduce the number of fractures.
Prof Cheung Ching-lung, President of The Osteoporosis Society of Hong Kong and Dr Ip Tai-pang, Chairperson of The Osteoporosis Society of Hong Kong (OSHK) Guideline Task Group, are urging immediate attention to the rapidly increasing cases of osteoporosis in Hong Kong. They recommend the implementation of DXA screening across the territory to reduce the number of fractures.

These fragility fractures, which occur due to low bone density and strength, can have devastating consequences for patients. Alarmingly, recent research has found that the mortality rate of hip fractures rivals that of leading cancer killers in Hong Kong. A study from the University of Hong Kong revealed that the mortality rate of hip fractures in men is higher than the mortality rate for prostate cancer, and on par with the mortality rate for colorectal cancer. Similarly, the mortality rate of hip fracture patients in women is higher than the mortality rate for thyroid cancer and breast cancer.

Compounding the problem, fragility fracture patients face a high risk of subsequent fractures, with nearly half (49.5%) of those who sustain an initial fracture experiencing a second fracture within the first two years. This “imminent fracture” period leaves patients vulnerable to repeat, debilitating injuries in quick succession.

“The dramatic escalation in fragility fractures underscores the urgent imperative to address osteoporosis and improve overall bone health in our community,” said Professor Cheung Ching-lung, President of The Osteoporosis Society of Hong Kong (OSHK). “In response, the OSHK’s multi-disciplinary task force has issued landmark clinical guidelines that revolutionize the approach to osteoporosis management in the city. This new, evidence-based framework aims to help identify and effectively manage individuals at different level of risk of these often devastating, and sometimes deadly, fractures, empowering both medical professionals and the public to take proactive steps in tackling this major public health crisis.”

OSHK recommends DXA Screening for Early Osteoporosis Detection in Hong Kong
OSHK is recommending that all Hong Kong men aged 70 and older, and all women aged 65 and older, undergo dual-energy X-ray absorptiometry (DXA) scans to screen for osteoporosis. DXA is considered the gold standard diagnostic tool for identifying osteoporosis. With such a protocol, an estimate of 5,234 hip fractures would be prevented in 10 years to reduce the devasting impact of fragility fractures on patients, their families, and the broader healthcare system in Hong Kong.

“DXA screening gives us the ability to identify osteoporosis early and take action to strengthen bones and prevent these life-altering fractures,” emphasized Dr Ip Tai-pang, Chairperson of The Osteoporosis Society of Hong Kong (OSHK) Guideline Task Group. “We’re calling on all Hong Kong residents in the recommended age groups to have this simple, painless test and have an open discussion with their doctors about optimizing their bone health.”

Landmark Guidelines Introduce Personalized Approach to Tackling Osteoporosis
The new OSHK guidelines go beyond recommending universal DXA screening to promote the use of a well-structured risk stratification model. This enables healthcare providers to comprehensively evaluate each patient’s individual risk of fragility fractures. By thoroughly assessing the patient’s unique risk profile and bone density T-score, clinicians can now establish a targeted treatment plan to effectively reduce their likelihood of experiencing a debilitating fragility fracture.

The OSHK guideline outlines the following risk-based approach for systematic fracture prevention:

Risk Level Recommendations for Medications
Low risk

  • Age <65 years with
    • T-score ≤ –2.5 and
    • No prior major fracture

  • Mild oral antiresorptive drug
High risk

  • Age ≥65 years with T-score ≤ –2.5 or
  • Prior fracture >24 months, or
  • FRAX 10-year probability : major osteoporotic fractures (fragility fractures) ≥20% or hip fracture ≥3%

  • Potent antiresorptive drug
    (Oral/ intravenous/ subcutaneous injection)
Very high risk

  • Multiple fractures, or
  • Major osteoporotic fractures (fragility fractures) ≤24 months, or
  • T-score ≤ –3.0, or
  • Fracture on antiresorptive therapy

  • Bone-forming medication

In addition, patients undergoing treatment for osteoporosis should review their treatment plan with their doctor every 1-2 years to ensure they are receiving maximum benefit. “Osteoporosis is a condition that requires long-term management,” emphasizes Dr Ip Tai-pang. “Patients should never stop taking their medications without first consulting their doctor, as abruptly discontinuing treatment can lead to rapid and dramatic loss of bone density.”

Reframing Fragility Fractures as “Bone failure” Underscores Urgent Need for Proactive Management of Devastating Complications
The OSHK’s new clinical guidelines reflect a paradigm shift in how this progressive bone disease is viewed and managed. By recognizing fragility factures as a systemic “bone failure” condition, the guidelines emphasize the serious, wide-ranging complications that can occur, including spinal deformities, loss of mobility, reduced quality of life, as well as the increased risks of other serious health issues, such as cardiovascular diseases and pneumonia etc. that can stem from osteoporosis and related fractures.

“We need to strengthen public education, so that the public understands that fragility fractures are akin to bone failure,” reminded Professor Cheung Ching-lung. “This will encourage them to proactively undergo screening, and to work closely with their doctors based on their individual risk levels, to continuously monitor their condition and receive targeted management or treatment.”
Hashtag: #Osteoporosis #DXA #fracture #OsteoporosisSocietyHK #BoneFailure

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

About The Osteoporosis Society of Hong Kong (OSHK)

The Osteoporosis Society of Hong Kong (OSHK) is a non-profit organization dedicated to promoting bone health and preventing osteoporosis in Hong Kong. Established in 1994, the OSHK is a multi-disciplinary society comprising orthopedists, endocrinologists, rheumatologists, geriatricians, family medicine practitioners, physiotherapists, nurses, and other healthcare professionals. The OSHK works to raise awareness, provide education, and advocate for policies to address the growing burden of osteoporosis in the city.

Live4Well Unveils New Chapter in Sport Innovation: Live4Sport Sport Alliance


HONG KONG SAR – Media OutReach Newswire – 31 August 2024 –

Rapid Project Growth
Since its launch, Live4Well has steadily accumulated real users by integrating AI and blockchain technology, uniting the sports health industry with community engagement. Leading the health industry trends in the Web3 era, Live4Well has grown into a global community with over 250,000 members, primarily young sports enthusiasts aged 18-25. The platform boasts a daily active user rate of 8%.

Live4Well Global Sports Alliance
Live4Well Global Sports Alliance

Genesis NFT Launch Triumph
On May 23, 2024, Live4Well successfully launched its first “Genesis NFT” series, which sold out completely within the first 7 hours, achieving a 1.5x over-subscription. This success occurred despite Ethereum’s recent surge, driven by the ERG approvals that drove up the minting cost. This achievement demonstrates global recognition of the project’s vision. Within two weeks of the NFT sell-out, Live4Well announced partnerships with several major global gym chains, including Anytime, 24/7, and FIT24. These partnerships offer NFT holders free memberships at over 200 gyms worldwide. With a secondary market listing rate below 2% and average prices rising by 50%, the project’s community loyalty and investor confidence are evident.

Innovative Expansion
The Live4Well team has always excelled at innovative business strategy. They are backed by investors whose investment achieved double-digit growth during the pandemic. The team deeply understands that Web3 demands continuous exploration and optimization, requiring regular content updates to keep participants engaged in the project’s development. Now, venturing beyond fitness and expanding into global sports, Live4Well is launching the Live4Sport initiative, aiming to create a worldwide “Sport Alliance.”

This new phase of development will weave together several different sports. Plans are currently underway to launch new series NFTs, such as Live4Tennis, Live4Lacrosse, and Live4Golf, within this year. These NFTs will provide exceptional value and maintain scarcity with single-issue releases.

NFT benefits will include access to sports courses, coaching resources, competitive events, a specialized app, and personalized training goals. With world-class sports resources and advanced products, Live4Well aims to immerse users in over 20 sports, and to foster sustainable healthy lifestyles through positive feedback and community support.

Future Vision
Recognizing health as a universal consensus, Live4Well has successfully launched NFT series even during market downturns. Committed to expanding the Sport Alliance, Live4Well will continue to attract global sports enthusiasts, reintroducing blockchain through health and sports, and gradually integrating the vast sports and health economy into the crypto world.

Live4Well is pioneering a future where sweat earns rewards in a Wellness Marketplace, creating a decentralized data infrastructure that enhances the sports industry through the synergy of AI, blockchain, and sport innovation.

Hashtag: #web3 #sport #globalsportsalliance



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

Live4Well

Leading Wellness AI and Sports Membership Platform: Bridging Virtual and Reality Through Web3

Live4Well is building a reward-oriented infrastructure that leverages real-life fitness data globally to advance sports and health, fostering a communal economy where all stakeholders are incentivized to collaborate, enhancing and sharing in our collective success.

Captiva Announces Share Repurchase Agreement

Vancouver, British Columbia – Newsfile Corp. – August 30, 2024 – Captiva Verde Wellness Corp. (CSE: PWR) (OTC Pink: CPIVF) (“Captiva Verde”) a public company listed on the Canadian Securities Exchange under the trading symbol PWR and further listed on the US OTC Market under the symbol CPIVF announces that the Company has entered into a share repurchase agreement (the “Repurchase Agreement“) with its wholly-owned subsidiary, 1435300 B.C. Ltd. (“Sonny Sports Holdco“), Ronnie Strasser (“Strasser“) and certain shareholders of the Company listed in Schedule “A” thereto (the “Purchasing Shareholders“), pursuant to which the Company expects to, subject to receipt of all required regulatory approvals, transfer its interest in Sonny Sports Holdco to Strasser and the other Purchasing Shareholders in exchange for the Purchasing Shareholders arranging for the return of an aggregate of 89,000,000 common shares in the capital of the Company (each common share, a “Common Share“) to the treasury of the Company for cancellation at a deemed price of $0.02 per Common Share and an aggregate of 55,000,000 Common Share purchase warrants (each, a “Warrant“) for cancellation at a deemed price of $0.00001 per Warrant.

Jeff Ciachurski, CEO of Captiva, commented: “This proposed transaction unwinds the acquisition of 1435300 B.C. Ltd. in August 2023, enabling the Company to re-focus on its original business previously described in its prospectus of September 20, 2018, and related Canadian Securities Exchange filings.

In connection with the Repurchase Agreement, the Company will enter into an option agreement (the “Option Agreement“) with Strasser and certain shareholders of the Company (collectively, the “Strasser Group“), pursuant to which the Strasser Group will grant to the Company the option to identify purchasers of up to 37,000,000 Common Shares beneficially owned or controlled, directly or indirectly, by any member of the Strasser Group at a price of C$0.02 per Common Share.

Additionally, pursuant to the terms and conditions of the Repurchase Agreement, the Company will enter into a debt assumption and settlement agreement (the “Consulting Debt Assumption and Settlement Agreement“) with Strasser and Sonny Sports Holdco, pursuant to which the Company will assume C$858,249.09 of liabilities owed to Strasser and his affiliates by Sonny Sports Holdco under a consulting agreement dated August 31, 2023, between Sonny Sports Holdco and Strasser (the “Consulting Assumed Indebtedness“), and settle the Consulting Assumed Indebtedness in exchange for 1,500,000 common shares in the capital of Greenbriar Sustainable Living Inc. (each, a “Greenbriar Share“) expected to be issued to the Company in satisfaction of a portion of the debt owed by Greenbriar Capital (U.S.) LLC (“Greenbriar USA“) to the Company under the joint venture settlement agreement between the Company and Greenbriar USA dated June 22, 2023, as amended August 21, 2023. The Company will also enter into a mutual release (the “Mutual Release” and, collectively with the Option Agreement and the Consulting Debt Assumption and Settlement Agreement, the “Ancillary Agreements“) with Sonny Sports Holdco, Jeffrey J. Ciachurski, and Strasser, pursuant to which, among other things and subject to certain limitations, the Company will release Sonny Sports Holdco and Strasser from all claims and Sonny Sports Holdco and Strasser will release the Company and Jeffrey J. Ciachurski from all claims.

The completion of the transactions contemplated by, or in connection with, the Repurchase Agreement and the Ancillary Agreements is subject to the receipt of all required regulatory approvals. The transactions described herein may not close on the terms described above or at all.

On Behalf of the Board of Directors
Jeffrey Ciachurski
Chief Executive Officer and Director
Cell: (949) 903-5906
E-mail: westernwind@shaw.ca

Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities laws and United States securities laws (together, “forward-looking statements”). All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the expansion of Captiva’s health and wellness platform.

Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget”, “propose” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: general business and economic conditions. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include those described under the heading “Risks and Uncertainties” in the Company’s most recently filed MD&A (a copy of which is available under the Company’s SEDAR profile at www.sedarplus.ca). The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

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

Flash Coffee’s Indonesia-focused strategy pays off as sales jump by more than 50% in H1 2024


JAKARTA, INDONESIA – Media OutReach Newswire – 31 August 2024 – Flash Coffee, the tech-enabled coffee chain, is excited to announce significant growth in Indonesia, the geographic focus for the company over the last half year, a new food and drink menu featuring exciting new products, and multiple new store openings planned across Jakarta and Bandung.

The expansion of its menu and physical locations highlights Flash Coffee’s commitment to delivering exceptional coffee experiences in Indonesia, one of Southeast Asia’s most promising economies with a growing appetite for quality coffee.

Flash Coffee now operates 67 stores in Indonesia and is progressing with further expansion across the market. Flash Coffee has increased its revenue per store by over 50% since early 2024 and reached operational profitability thanks to its new menu.

This impressive growth has been driven by the group’s vision and decision to focus on the Indonesian market, following the closure of Flash Coffee in other Asian markets and the successful sale and transformation into a franchise of Flash Coffee in Thailand.

“We have been excited about Indonesia and its potential since we opened our very first Flash Coffee store in Jakarta in January 2020”, said David Brunier, Founder and CEO of Flash Coffee. “Thanks to the support of our loyal customer base and our strategic refocus on Indonesia as the group’s most mature market, we are now expanding our footprint in the country, with plans to add many new stores to our portfolio within the next 12 months. We’re just getting started.”

Each new store is designed to offer a unique coffee experience, featuring Flash Coffee’s signature drinks like Seasalt Palm Sugar Latte or Whipped Strawberry Matcha, user-friendly digital ordering on its proprietary app, and its new larger store concept with welcoming sit-and-stay design encouraging customers to stay and socialise.

In addition to the continued commitment of Flash Coffee’s founders Sebastian Hannecker and David Brunier, White Star Capital has appointed Jakob Angele, Venture Partner at White Star Capital and former CEO foodpanda, who was instrumental in growing foodpanda to USD5.5 billion transaction volume, to operationally support the growth of Flash Coffee leveraging his extensive expertise in F&B and the online food delivery industry.

“We’re extremely pleased to see the recent changes and our hyper-focus on Indonesia to translate into tangible business success. I am very excited about what the future will hold for Flash Coffee,” said Jakob Angele, Executive Chairman of Flash Coffee and Venture Partner at White Star Capital. “Indonesia is one of the most exciting and vibrant coffee markets worldwide. Flash Coffee is uniquely positioned to serve its growing demand for high-quality coffee.”

For images of Flash Coffee’s Indonesia stores, menu, and exceptional barista team please click here.
Hashtag: #FlashCoffee

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

About Flash Coffee

is a tech-enabled coffee chain that serves a menu of high-quality drinks curated by award-winning World Barista Champions across Asia. Customers can use the Flash Coffee app to order and pay online, choose to pick up orders from one of the brand’s iconic yellow storefronts, or order for delivery through the app or major delivery platforms.

After the company’s restructuring in 2023, Flash Coffee’s main focus is on Indonesia and franchising the brand in additional markets, following a successful franchise in Thailand. Flash Coffee is backed by White Star Capital as its largest shareholder.

Viomi Issued 2024H1 Unaudited Financial Results: Focus on AI Water, Return to Profit


GUANGDONG, CHINA – Media OutReach Newswire – 31 August 2024 – On August 26, 2024, Viomi Technology Co., Ltd (NASDAQ: VIOT) issued its first half of 2024 unaudited financial results. Based on the financial report, the net revenues were US$143.1 million, net income attributable to ordinary shareholders of the Company was US$0.8 million. According to the management’s preliminary estimates, excluding the divested businesses, the estimated revenues from the remained businesses, mainly home water solution businesses and others, were more than US$110 million, with an estimated income from operations of more than US$7 million for the first half of 2024. In the meantime, the Company issued the full year guidance with the estimated revenues from the core home water businesses and others to be between US$240 million to US$260 million, and the income from operations between US$15 million to US$18 million.

Viomi

Focus on AI Water, Returns to Profit

On July 19, 2024, the Company announced a major business reorganization, and will mainly focus on its core strengths in the home water solutions to elevate the Company’s overall operational trajectory. The reorganization is expected to drive healthy and sustainable long-term growth for the Company.

According to Mr. Xiaoping Chen, Founder and CEO of Viomi, the Company implemented rigorous ‘Focus’ strategy, prioritizing high-quality development and consistently enhancing the operating performance. “Specifically, we concentrated on our advantageous categories, boosting our core home water solution products’ revenue while further optimizing our product structure. As a result, our overall gross margin continued to improve to 24.8% for the first half of 2024 from 22.0% for the same period in 2023. Rigorous cost control measures led to a year-over-year decline in operating expenses by 19.2%, contributing to a turnaround in net profit with a net income of RMB5.6 million and a non-GAAP net income of RMB16.1 million. Additionally, we maintained a strong cash position, with free cash assets totaling RMB914.3 million.” commented by Mr. Chen.

AI Technology and Product Innovation,Growth Engine

Following the major business reorganization, Viomi will embrace a new mission: ‘AI for Better Water.’ dedicated to utilizing AI technology to provide better home water solutions for households worldwide. Leveraging their extensive expertise in AI technology application, intelligent hardware and software development, Viomi has strived to redefine home water solutions and developed a unique ‘Equipment + Consumables’ business model. Viomi use AI technology to holistically enhance the user experience, providing remote, real-time monitoring of water quality and usage as well as timely filter replacement reminders, one-click reordering, and DIY replacement options, leading to a higher filter replacement rate. The intelligent waterway self-cleaning technology significantly extends filter lifespan and reduces the cost of water purification, making smart water purification products a reliable, hassle-free and affordable essential for a healthy lifestyle.

Regarding product innovation, as an industry-leading technology company, Viomi has consistently driven technological breakthroughs over the past decade. The Company developed tankless large-flux water purifiers that provide fresh drinking water 24/7. By upgrading the water flux up to 2000G, expanded purified water usage scenarios from drinking to cooking, washing vegetables, and more. At its Spring Water Purifier New Product Launch in March 2024, Viomi unveiled the Viomi Kunlun Mineral AI Water Purifier. Its innovative mineralizing filter technology enables the sustained release of beneficial minerals, making the composition of these minerals in the water almost identical to that of natural mineral water, allowing users to enjoy fresh mineral water at home. Viomi offers a wide range of products covering various home scenarios, from single-function filtration to integrated functions featuring instant heating, cooling, and ice-making capabilities. Spanning kitchen, living room and whole-house applications, Viomi’s products comprehensively address the increasing global demand for cleaner, fresher and healthier drinking water.

Global water, Global Leader

In terms of product manufacturing and technology development, Viomi operates a world-leading “Water Purifier Gigafactory,” boasting an annual production capacity of 5 million water purifiers and 30 million filters. Its highly integrated industrial chain, highly automated production lines, high-standard clean production workshops, and fully traceable quality control system facilitate continuous breakthroughs in water purification, achieving optimal scale efficiency and meeting diverse global market demands. Viomi has established one of the industry’s most comprehensive R&D systems, mastering advanced filtration technology and the materials manufacturing process, and layout omni-channel marketing. As a result, the Company have amassed over 1,600 water purification patents and attracted numerous global talents in management, marketing, product development and quality control.

Looking forward, “Global Water” will become the Company’s vision. As a specialized professional water purification technology company, Viomi aims to deliver fresh and healthy water worldwide. By fully leverage the Water Purifier Gigafactory’s competitive advantages, actively expand in key overseas markets to promote Viomi’s global strategy, enabling families abroad to enjoy fresh and healthy water through Viomi home water solution products.

Hashtag: #Viomi

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

Ingdan, Inc. (400.HK) Announces 2024 Interim Results

Highlights of the Interim Results for the Six Months Ended June 30, 2024:
  • With the increasing demand for chips from AI technology-related industries, orders for AI chip orders from Comtech continued to rise, driving the Group’s revenue up by 11.9% year-on-year to RMB4,321.4 million.
  • The Group recorded a gross profit of approximately RMB457.6 million and a net profit of approximately RMB169.1 million. Profit attributable to equity shareholders of the Company was approximately RMB112.7 million, representing an increase of approximately 21.8% year-on-year.
  • Ingdan Academy continued to provide technical services and talent training for the industry and has successfully trained over 2,000 chip application engineers, further advancing the national chip industry.

HONG KONG SAR – Media OutReach Newswire – 30 August 2024 – Ingdan, Inc. (“Ingdan, Inc.” or the “Company”, stock code: 400.HK; with its subsidiaries (the ”Group”)) – an innovative technology services platform conglomerate, with its core businesses “Comtech” and “Ingdan” – announces its unaudited interim results for the six months ended June 30, 2024 (the “First Half of 2024” or the “Period”).

Financial Highlights for the First Half of 2024

During the Period, benefiting from the increased demand for AI computing power and the growing demand for chips from industries related to AI technology, the Group recorded revenue of approximately RMB4,321.4 million, representing an increase of approximately 11.9% as compared to approximately RMB3,863.5 million for the corresponding period in 2023. Gross profit was approximately RMB457.6 million, representing a decrease of approximately 5.1% year-on-year, primarily due to the impact of increased sales volume from larger customers on the overall gross margin. Profit from operations was approximately RMB228.2 million, representing a decrease of approximately 7.9% year-on-year. Despite the impact of higher interest costs of US dollars on the Company’s profit before tax, profit attributable to equity shareholders of the Company still increased to approximately RMB112.7 million, a year-on-year growth of 21.8%. As of June 30, 2024, the Company’s cash and bank balances (including pledged deposits) totalled approximately RMB821.4 million; bank loans were RMB1,725.4 million; the inventory value was RMB4,034.4 million; the number of basic ordinary shares issued by the Group was 1,394,262,732, and the weighted average number of ordinary shares of diluted earnings per share was 1,370,992,000.

Deepening AI Computing Power Supply Chain, Comtech Empowers Industry Innovation and Operations Efficiency

As a core supplier in the AI computing power supply chain, Comtech serves a broad spectrum of sectors, including computing centers, data centers, AI servers, AI switch networking products, optical modules and a wide range of AI applications field. Comtech works closely with global leading chip manufacturers and has been an agent for the products of over 80 core chip companies, including Nvidia, Xilinx, Intel, AMD, ST and other well-known international manufacturers, as well as numerous domestic chip makers.

With years of successful business operations, Comtech has accumulated extensive application technology experience and industrial resources, enabling it to provide chip application technology solutions and supply chain management services to tens of thousands of customers in downstream of the innovation industry. At the same time, with the help of proprietary AI technology, LLMs and professional knowledge bases, Comtech can provide intelligent and automated solutions in the areas of chip selection, hardware design, software development, and system integration. By utilizing AI technology and big data analysis, Comtech has achieved intelligent management of the supply chain, significantly enhancing operational efficiency while reducing costs. Additionally, Comtech holds a number of proprietary intellectual properties, giving it a competitive advantage in the fields of AI chip application and intelligent supply chain. By combining advanced AI technologies and deep industry expertise, Comtech continues to improve its service quality, create greater value for its customers, and lead the industry in technological innovation to maintain its market competitiveness.

Ingdan Expands into the New Energy Industry, Ingdan Academy Facilitates Digital Transformation of the Chip Industry

Ingdan focuses on the new energy industry, dedicating efforts to developing the industry for two-wheeler battery replacement and re-utilization. By building a reliable asset management platform for traceable lithium battery life-cycle data, it provides customized solutions for two-wheeler battery replacement, power re-utilization and energy storage. Ingdan has strategically focused on the two-wheeler battery cloud services, aiming to capture the market trend of new energy smart battery clouds, in order to seize the RMB100 billion “blue ocean” market opportunity. The project would enable the Group to sustain profitability while contributing to the advocacy of the product standardization of China’s two-wheeler battery replacement industry, supporting the realization of the national “double carbon” goal of carbon peaking and carbon neutrality.

Based on the Group’s resources and technological strengths in the chip industry, Ingdan Academy provides technical services and talent training for the industry. Through technical training, Ingdan Academy assisted upstream AI chip manufacturers in promoting their products and technologies in the market, while growing AI technical talents to help downstream AI application companies to swiftly adopt the latest AI technologies and products, and enhance enterprises’ AI capabilities. Furthermore, Ingdan Academy provides enterprises with locally deployed AI LLM application solutions and helps enterprises achieve multidisciplinary AI digital transformations. To date, Ingdan Academy has successfully trained over 2,000 chip application engineers. Through talent training and technical support, Ingdan Academy will support Shenzhen in becoming a leading chip application industry hub in China and globally, making a greater contribution to the development of the national chip industry.

Outlook

Mr. Jeffrey Kang, CEO of Ingdan, Inc., said, “With the development of the market, AI technologies continue to be implemented commercially. AI has become a crucial foundation for enterprises’ digitalization and intelligentization. In this process, chip applications, intelligent hardware, and big data play key roles for various industries to accelerate their pace in digital transformations. Capitalizing on its industrial strengths, we will accelerate its presence in the AI industry chain by actively capturing development opportunities brought about by AI technology. Through Comtech, we will continue to research and develop, and enhance the design of chip application solutions in order to meet AI technologies’ demand for high-performance chips and computing power supply chain, aiming to become the core supplier of the AI computing power supply chain. Meanwhile, Ingdan has effectively integrated the complete intelligent hardware application solutions through “Ingdan Cloud” with products to speed up the successful application of AI products. We will continue to upgrade our service platform to provide complete service coverage for the entire AI industry chain, capitalize on business opportunities arising from the intelligent transformation in China, and lead the Company to become a pioneer in the AI ​​chip application industry.”

Caution Statement

The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made by the Company or any of its affiliates, advisers or representatives as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions presented or contained herein. The information contained in this document should be considered in the context of the circumstances prevailing at the time, is subject to change without notice and the Company makes no undertaking to update the information in this document to reflect any developments that occur after the date of the presentation. It is not the Company’s intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company, or its financial or trading position or prospects. Neither of the Company nor any of its affiliates, advisers or representatives accept any responsibility or have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document.

This document may contain statements that reflect the Company’s current intent, beliefs, and expectations about the future as of the respective dates indicated herein. These forward-looking statements do not guarantee future performance and are based on a number of assumptions about the Company’s operations and factors beyond the Company’s control and are subject to significant risks and uncertainties, and accordingly, actual results may differ materially from those described in these forward-looking statements. Neither the Company nor any of its affiliates, advisers or representatives has any obligation, nor do they undertake, to update these forward-looking statements for any events or developments including the occurrence of unanticipated events that occur subsequent to such dates.

Hashtag: #Ingdan

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

FGA Trust Expands Its Reach with the Opening of North America Office


HONG KONG SAR – Media OutReach Newswire – 30 August 2024 – FGA Trust, a Hong Kong-licensed trust company and leader in innovative financial solutions, is excited to announce the opening of its North American office. This strategic expansion reflects the company’s commitment to enhancing its global presence and providing top-tier services to high-net-worth individuals across the continent.

To lead this initiative, FGA Trust has appointed Wincent Hung as the Chief Executive Officer of North America. Mr. Hung is a trailblazing entrepreneur with extensive experience in the fields of traditional finance and Web3. His career began as an auditor at Ernst & Young, where he spent over 15 years refining his expertise in entrepreneurship in Hong Kong.

Wincent Hung, FGA's CEO of North America
Wincent Hung, FGA’s CEO of North America

North America has a long-standing tradition of utilizing trusts for wealth management, providing a robust framework for preserving and growing assets. FGA Trust seeks to enhance this legacy by helping high-net-worth individuals capture emerging opportunities in the evolving financial landscape. With customized solutions designed to meet their unique needs, FGA Trust empowers affluent investors to navigate both traditional wealth management strategies and innovative avenues, ultimately driving growth and maximizing returns in an ever-changing market.

In recent years, Hong Kong has established itself as a key player in the wealth management industry, as government initiatives attract global attention from ultra-high-net-worth individuals and families seeking effective asset management and succession planning solutions. Riding this wave of opportunity, FGA’s expansion to North America enhances its services to meet the diverse needs of global wealth. By doing so, FGA aims to deliver tailored, innovative solutions that not only protect but also grow the wealth of families worldwide.

“Expanding into North America is a significant milestone for FGA Trust,” said Mr. Hung. “I am thrilled to take on this role and am committed to cultivating meaningful relationships and delivering exceptional value to our clients as we navigate the future of finance together.”

With the opening of the North American office, FGA Trust is poised to leverage its expertise to foster growth, enhance customer experiences, and drive the adoption of innovative financial solutions throughout the region.

Hashtag: #FGA #Trust #Wealth #Web3




Wechat: FGA Trust Limited

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

FGA Trust

FGA Trust is a Hong Kong-license trust company delivering bank-grade financial asset protection and highly customizable solutions, allowing our customers to live life to its fullest with confidence that all interactions and arrangements conducted with us are safe, discreet, professional and optimized for the customer’s benefits.