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AsiaInfo Technologies Announces 2023 Annual Results

Steady growth in overall business Maintained a double-digit growth in Three New business


Results Highlights:

  • Revenue amounted to approximately RMB7,891 million, an increase of 2.0%.
  • Revenue from the Three New business[1] amounted to approximately RMB2,899 million, an increase of 12.7%, accounting for approximately 36.7% of total revenue.
  • Adjusted net profit[2] for the Year was approximately RMB851 million and adjusted net profit margin was 10.8%.
  • Operating cash flow was RMB582 million, an increase of 5.9%.
  • Proposed a final dividend of HK$0.412 per Share, representing a dividend payout ratio equivalent to 40% of the adjusted net profit for the Year. Including the special dividend of HK$0.6 per Share declared in December 2023, the total dividend for the Year will be HK$1.012 per Share.

HONG KONG SAR – Media OutReach Newswire – 19 March 2024 AsiaInfo Technologies Limited (“AsiaInfo Technologies” or the “Company”, which together with its subsidiaries, is referred to as the “Group”; HKEX stock code: 1675), is pleased to announce its annual results for the year ended 31 December 2023 (the “Year”).

Overall results

In 2023, AsiaInfo Technologies achieved a steady growth in revenue to RMB7,891 million, representing a year-on-year increase of 2.0%. Though the BSS and digital intelligence-driven operation businesses were under pressure, benefiting from the rapid growth of the OSS and vertical industry digitisation businesses, the overall revenue remained stable. The Three New business recorded a faster year-on-year growth of 12.7%, with its revenue amounting to RMB2,899 million, enlarging its proportion of the total revenue to 36.7%. Meanwhile, the Company stepped up its efforts in cost reduction and efficiency enhancement, maintaining a stable gross profit margin of 37.7%. Impacted by the non-operating items such as the impairment of goodwill and intangible assets, the net profit for the Year fell by 37.9% to RMB512 million. However, excluding the impact of the said non-operating items, the Company’s adjusted net profit for the Year was RMB851 million, and the adjusted net profit margin sustained a double-digit figure of 10.8%, maintaining a sound profitability. Operating cash flow was RMB582 million, representing a year-on-year increase of 5.9%.

Commenting on the Group’s results in 2023, Dr. TIAN Suning, Chairman and Executive Director of the Group, said, “In the past year, the external economic situation was severe and complex, with ongoing uncertainties during the economic recovery. Meanwhile, customers in the telecommunications industry continued to ramp up efforts to reduce costs, boost efficiency and enhance their proprietary research and development (“R&D”) capabilities. Against this backdrop, the Company’s traditional business faced a real challenge. Therefore, the Company kept on developing new businesses on the one hand, and innovatively upgraded its traditional business using new technologies such as AIGC/ GPT on the other hand, to offset the pressure brought by the traditional business and maintain a healthy and stable business development. In 2023, the Company attached a higher importance to cash flow health and strengthened its refined cost management to ensure the Company’s long-term sustainable development. Excluding the non-operating items, the Company’s profit for the Year continued to grow, and its operating cash flow also improved as compared to the previous year, continuously creating value for shareholders, customers and society.”

The Board, after taking into consideration of various factors, particularly the cash returns of shareholders and the non-cash impact of the asset impairments, has decided to propose the distribution of a final dividend of HK$0.412 per Share for 2023 at the annual general meeting, representing a dividend payout ratio equivalent to 40.0% of the adjusted net profit for the Year. Including the special dividend of HK$0.6 per Share declared in December 2023, the total dividend for 2023 will be HK$1.012 per Share.

OSS business maintained a rapid growth, BSS business faced a real challenge

In the OSS business, the Company continued to seize market opportunities in areas such as computing power network, autonomous network, and ToB 5G networks with industry leading technology and products to promote rapid business growth. AsiaInfo’s AN CoPilot efficiently supports telecommunication operators to advance to L4/ L5 high-level autonomous networks by building a model specific for autonomous network, network augmented cognition services and the toolkits. In 2023, the revenue from the OSS business reached RMB832 million, up by 24.9% year on year.

In the BSS business, facing challenges from its customers’ intensifying efforts to reduce costs, enhance efficiency, and enhance proprietary R&D capabilities, the downward pressure on the traditional BSS business is increasing. The Company capitalised on the trend and actively deployed innovative technologies such as AIGC/ GPT, edge AI, metaverse, and digital twins to develop products that meet customers’ demand on innovation, easing the downward pressure on the BSS business. The Company actively infused intelligence into its business, leveraging AIGC to develop products such as intelligent customer service multimodal interaction operations, intelligent marketing services, and ChatBI. In terms of market expansion, the Company continued to grow its customer portfolio and successfully replaced the business support systems of government and enterprise customers in several provinces and win projects such as the Billing System Reconstruction Project at China Telecom Shanghai Branch. In 2023, the revenue from the BSS business was down by 0.9% year on year, amounting to RMB4,881 million.

Deepened the high-quality development model of “Standardised Product + Solution” in the vertical industries

With the deep integration of digital technology and the real economy, various industries are striving to accelerate digital and intelligent transformation. Against this backdrop, the Company continued to focus on key industries such as energy, transportation, government affairs, etc., and further deepened the high-quality development model of “Standardised Product + Solution”, at the same time appropriately controlled the pace of development. In 2023, the revenue from the vertical industry digitalisation business was RMB965 million, up by 27.5% year on year. In which, the revenue from the transportation industry amounted to RMB316 million, representing a year-on-year increase of 458.5%, while the revenue from the energy industry amounted to RMB269 million, representing a year-on-year increase of 136.5%.

In the transportation industry, the Company deepened its efforts in intelligent highways and promoted an innovative development in intelligent transportation hubs and digital intelligent logistics. In the area of intelligent highways, the Company developed digital intelligent products and solutions such as 5G+ Beidou inter-flow billing, traffic digital twin, and transportation big data governance and application. In the area of intelligent transportation hubs, the Company participated in the building of Chongqing East Railway Station smart hub project with the business model of “Standardised Product + Solution + System Integration”. In the area of digital intelligent logistics, the Company integrated the data of railway, aviation, highway and sea transport, as well as customers’ own data, to provide freight data, logistics visualisation, multimodal transport optimisation and other services, and achieved a rapid growth in orders during the Year with customers including Shougang, Baogang, Jiangsu Trans Union, Shandong Zhongze Energy and Environmental Protection and Qingdao SCO Demonstration Area.

In the energy industry, the Company strengthened its market leadership in nuclear power plant 5G private network while expanding into wind power, photovoltaic power and mining sites. The Company has signed a total of 23 nuclear power units for nuclear power plant 5G private network projects, covering nearly 30% of the nuclear power units under construction and in operation in mainland China. In the area of wind power, the Company’s 5G private network projects have covered more than 100 wind farms and cooperated with China Broadcasting Network and CGN New Energy, successfully deploying 700MHz proprietary base stations in the construction of wind power 5G private network. In the area of photovoltaic power, the Company built a cloud-network integrated comprehensive energy management platform “Xihe Energy”, and successfully completed benchmark projects such as CNH Energy Hainan distributed photovoltaic power project and Hainan Jiaotou zero-carbon service area. In the area of mining, the Company leveraged 5G private network, edge AI, big data and other products and solutions to break through the smart mining market. The Company sees huge market potential in the energy industry. In addition to the nuclear power units that had not yet been covered, there are still thousands of wind power farms, photovoltaic power sites and coal mines that have the demand for digital transformation.

Short-term pressure on digital intelligence-driven operation business with negative impacts diminishing

In 2023, iDigital experienced a short-term impact of its in-depth organisational reform and its industry research business was greatly affected by the sluggish capital markets and tight budget control of customers in Internet and consumption sectors, resulting a year-on-year decline in its revenue. However, the decline in revenue narrowed in the second half of the Year as compared with the first half of the Year. The Company believes that there is still enormous market demand for digital intelligence-driven operation business. Coupled with the easing of the above-mentioned negative impacts, it is expected that the digital intelligence-driven operation business will resume growth in 2024.

In DSaaS business, the Company continued to focus on industries such as telecommunications, government and enterprise, automotive and consumption. In the area of digital intelligence TMT, the Company continued to optimise its business model. In 2023, the Company added seven provincial customers in the models such as Internet “franchise zones” operations and results-based charging, reaching a total of 23 provinces. Meanwhile, the Group’s client base of the DSaaS business expanded from provincial branches of within client groups to more specialised companies, such as China Moblie Financial Technology, China Mobile Internet, etc. In the area of digital intelligence internet of vehicles, the Company leveraged on telecommunications big data combined with AI, privacy computing, and other technologies to develop digital marketing solutions for the automotive industry, driving expansion of its client base, making breakthroughs in joint venture brands, commercial vehicles, and emerging brands and winning multiple projects from automotive companies such as Deepal, GAC Toyota and Dongfeng Motor. In the area of digital intelligence consumption, the Company focused on brand customers, providing services such as digital membership engagement and management and private domain marketing. It obtained Jingpai’s membership digital marketing project and provided Nike with store insights and analytics, among others. In the area of intelligent decision-making, iDigital published couple of research papers on AIGC and digital transformation, etc., gradually becoming more influential in the digital consulting industry and winning multiple top-level digital consulting and planning projects from China Mobile Financial Technology, China Mobile’s Migu and China Broadcasting Network, etc. In 2023, the digital intelligence-driven operation business recorded a revenue of RMB1,102 million, a year-on-year decrease of 4.2%, accounting for 14.0% of the Company’s total revenue, with revenue from results-based and commission-based charging models accounting for 24.0% of the digital intelligence-driven operation business revenue.

Prospects

Talking about the future strategies, Dr. TIAN said, “Looking ahead to 2024, there are uncertainties in the external economic development. AsiaInfo Technologies will continue to navigate through the challenging environment, seeking opportunities and breakthroughs. Building upon the foundation of the strategy of ‘One consolidation, Three Developments’, the Company will further advance ‘Four Shifts’ strategy to drive development in non-telecommunication industries, standardised products, software and hardware integrated products and international markets.”

“In terms of BSS business, the Company will proactively innovate its traditional business through technological and product innovations, mitigating downward pressure on the BSS business, while maintaining our leadership position in the BSS market. In addition, the Company will expand our OSS business boundary and put efforts into penetrating ToB 5G network equipment market. In the non-communications industry, we will continue to focus on key vertical industries such as energy, government affairs and transportation. We will seize favourable policy opportunities, strengthen our professional teams, and create benchmark cases with deepened adoption of the ‘Standardised Product + Solution’ model, to drive business growth with guaranteed quality.”

“Integration has become the main theme of the ICT industry development, and the boundary between products and services is constantly being blurred. The Company will focus on five strategic products, namely 5G/6G networks, edge AI, database, xGPT, big data and trusted data circulation and intensify its efforts to promote the products in key vertical industries such as telecommunications, energy, government affairs, and transportation. As for international markets, with our capabilities in standardised products getting mature, the Company actively integrates into the global ecosystem and strive to expand into markets in the Middle East and Southeast Asia through overseas channels and partnerships, bringing the Company’s software and hardware integrated standardised products such as 5G private networks, O-RAN, and edge AI to international markets.”


[1] Three New business represents the digital intelligence-driven operation, the vertical industries digitisation, and the Operation Support Systems (“OSS”) business.

[2] Adjusted net profit represents the net profit excluding the impact of non-operating items, namely, the impairment of goodwill and intangible assets and the dividend tax arising from the special dividend declared in 2023.

Hashtag: #AsiaInfoTechnologies

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

AsiaInfo Technologies Limited

AsiaInfo Technologies Limited (“AsiaInfo” or “the Company”; Stock code: 01675. HK), founded in 1993, is a leading software product, solution and service provider, as well as a leading provider of full-stack digital and intelligent capabilities. Capitalising on consulting and planning, product R&D, implementation and delivery, system integration, decision intelligence, data operation, customer service and other digital and intelligent core capabilities, AsiaInfo provides enterprise customers in industries such as telecommunications, government affairs, energy, transportation, cable and postal services with end-to-end close loop digital and intelligent transformation service.

AsiaInfo adheres to the strategy of “One consolidation, Three development”, maintains BSS market leadership with high quality and develops new businesses such as 5G OSS network intelligentisation, digital intelligence-driven operation, vertical industries and enterprise cloudification. The Company actively embraces advanced technologies such as 5G, cloud computing, big data, AI, and Internet of Things, forming three major product systems: cloud network, digital intelligence and IT.

HKSTP Unveils Top 74 Global Startups Confirmed for EPiC 2024 Grand Finale

  • EPiC 2024 Grand Finale on 26 April 2024 features US$45 million investment to be arranged, up to US$5 million in HKSTP venture funding, US$240,000 in cash prizes, plus partnership opportunities
  • This year’s finale features 80% of semi-finalists coming from 16 overseas markets
  • All semi-finalists will have access to unrivalled benefits and opportunities provided by HKSTP’s innovation ecosystem

HONG KONG SAR – Media OutReach Newswire – 18 March 2024 – Hong Kong Science and Technology Parks Corporation (HKSTP) has revealed the top 74 startups from over 600 contestants for its eighth and biggest ever global Elevator Pitch Competition 2024 (EPiC 2024) Grand Finale, taking place in Hong Kong on 26 April 2024. The semi-finalists were selected from the first-ever four-city series of global semi-finals held in the innovative hubs of Hong Kong, Silicon Valley, Stuttgart and Singapore.

HKSTP Unveils Top 74 Global Startups Confirmed for EPiC 2024 Grand Finale

This year, 80% of semi-finalists are overseas competitors from 16 economies, making this contest the most international iteration of EPiC to date. EPiC’s global growth stands testament to Hong Kong’s status as a leading international I&T hub that attracts top-tier startups from around the world.

EPiC 2024 is a HKSTP’s annual flagship startup event and one of Hong Kong’s mega events, becoming one of the most highly anticipated events for the I&T community. This year’s Grand Finale will take place on 26 April 2024, at the sky100 venue atop Hong Kong’s tallest building, International Commerce Centre. The participating startups will compete across the three competition tracks of FinTech, PropTech and MobilityTech.

Startups will have exactly 60 seconds to amaze the judges with their disruptive innovation, in a genuine elevator pitch experience for all participants. All applicants will target US$45 million investment to be arranged[1], have the opportunity to compete for up to US$5 million in investment from HKSTP Corporate Venture Fund (“CVF”), as well as US$240,000 in cash prizes, plus partnership opportunities. By participating in EPiC, startups can leverage Hong Kong’s largest innovation ecosystem at HKSTP as a springboard to huge market opportunities in Mainland China, across Asia and beyond.

The full list of semi-finalists below:

MobilityTech
Company Name (in alphabetical order) Headquarter
1 ABAKA AI Mainland China
2 ACCURE Battery Intelligence United States
3 AUTOCRYPT South Korea
4 Certivity Germany
5 Coordle United States
6 EVA Germany
7 FlyX Technologies Inc. United States
8 ivilion Germany
9 KONVERY DATA TECH CO.LTD Mainland China
10 Libpet Tech Limited Hong Kong
11 Meep Spain
12 MotoNerv Limited Hong Kong
13 Mushroom Material Singapore
14 Novac Italy
15 Ohoskin Italy
16 OpalAI Inc United States
17 PIX Moving Mainland China
18 SCRAMBLUX GMBH Germany
19 Shanghai Qiongche Intelligent Technology Co., Ltd Mainland China
20 Smart Audio Technologies United Kingdom
21 Soter AI United States
22 tozero GmbH Germany
23 Vidi Labs Limited Hong Kong
24 Waveye Inc Germany
25 wheel.me Norway
26 XYZ Robotics Mainland China
PropTech
Company Name (in alphabetical order) Headquarter
1 Agora World United States
2 Ailytics Limited Hong Kong
3 Albacastor Technology Limited Hong Kong
4 Allye Energy United Kingdom
5 AZURE PRINTED HOMES United States
6 Blue Wall Technology Mainland China
7 Carnot Innovations Limited Hong Kong
8 Civils.ai Singapore
9 Collov Inc United States
10 Green Independence Italy
11 GreenCoat Pty Ltd Australia
12 Hyele Limited Hong Kong
13 inHovate Solutions UAE
14 Kodifly Limited Hong Kong
15 LifeSparrow Solutions Limited Hong Kong
16 Pando Electric United States
17 ProGreen Innovations Kenya
18 Syzl Canada
19 TANGObuilder United States
20 Ultrack Technology Sdn. Bhd. Malaysia
21 WaveScan Technologies Pte Ltd Singapore
22 XKool Technology Mainland China
23 Yueshi Robot Mainland China
24 Zhuling Technology Mainland China
FinTech
Company Name (in alphabetical order) Headquarter
1 Aurionpro Payment Solutions Ltd Hong Kong
2 Bizbaz Pte. Ltd. Singapore
3 Boopos United States
4 Boost Capital Singapore
5 Connect Earth United Kingdom
6 D-Engraver Limited Hong Kong
7 e-States United States
8 exaBITS United States
9 imBee Hong Kong
10 iVE.ONE Limited Hong Kong
11 Kaiku United Kingdom
12 KORZO INC. United States
13 KYP United Kingdom
14 Meson Singapore
15 MoneyMatch Sdn Bhd Malaysia
16 Physis Investment United States
17 Helios Life Enterprises United States
18 RealKey United States
19 Rey Indonesia
20 Shenzhen Magic Engine Artificial Intelligence (ME) Co., Ltd. Mainland China
21 Smile API Singapore
22 TFS Hong Kong
23 Transparently.AI Singapore
24 UNCLE2 FINTECH LIMITED Hong Kong


[1] Target to arrange USD45 Million investment: Investors (including funds managed by HKSTP CVF, Beyond Ventures, BitRock Capital, Gaw Capital, HKX, InnoAngel, Jafco Asia, Mindworks Capital and Radiant Tech Ventures) will consider investing in applicants (subject to terms and conditions to be agreed between the parties)

Hashtag: #HKSTP

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

About Hong Kong Science and Technology Parks Corporation

Hong Kong Science and Technology Parks Corporation (HKSTP) was established in 2001 with a mission to position Hong Kong as an international innovation and technology (I&T) hub. HKSTP has created a thriving I&T ecosystem supporting over 10 unicorns with more than 13,000 research professionals and around 1,700 technology companies from 26 countries and regions focused on healthtech, AI and robotics, fintech and smart city technologies.

We offer comprehensive support to attract and nurture talent, accelerate and commercialise innovation for technology ventures on their I&T journey. Our growing innovation ecosystem is built around our key locations of Hong Kong Science Park in Shatin, InnoCentre in Kowloon Tong and three modern InnoParks in Tai Po, Tseung Kwan O and Yuen Long. The three InnoParks are realising a vision of new industrialisation for Hong Kong, where sectors including advanced manufacturing, micro-electronics and biotechnology are being reimagined.

Hong Kong Science Park Shenzhen Branch in Futian, Shenzhen, opened in September 2023 to support Hong Kong’s future development and its growing demands of the I&T industry and to strengthen cross-border exchange, attract technology companies as well as talent from around the world, helping them go global. It has both dry and wet laboratories, co-working space, conference and exhibition spaces, and more. We will focus on attracting enterprises in seven key areas: Medtech, big data and AI, robotics, new materials, microelectronics, fintech and sustainability.

Through our infrastructure, services, expertise, and network of partnerships, HKSTP will help establish I&T as a pillar of growth for Hong Kong.

More information about HKSTP is available at .

Blue Cross Partners with AlipayHK on Easter Promotion Travel Smart 5-day Single-trip Cover for Only HK$1


HONG KONG SAR – Media OutReach Newswire – 18 March 2024 – Blue Cross (Asia-Pacific) Insurance Limited (“Blue Cross”) has joined hands with various partners and digital platforms to provide customers with protection tailored to their different needs in life. Its latest strategic partnership with AlipayHK offers customers 5-day travel insurance for only HK$1 and a host of HK$20 premium vouchers for a limited-time Easter promotion.

Alipay-&-BX-campaign.jpg

Ms. Bonnie Tse, Chief Executive Officer of Blue Cross, said, “Upholding its customer-first philosophy, Blue Cross is committed to providing customers with a service experience that accentuates exceptional quality and utmost convenience. We seek to expand customer touchpoints to different facets of their daily lives through collaboration with a multitude of strategic partners and digital platforms. We are pleased to collaborate with AlipayHK on these exciting offers, allowing customers to cover their protection needs with ease through the popular platform’s seamless mobile payment experience.”

Blue Cross x AlipayHK: Limited-time Easter Promotion^

From 18 March to 17 April 2024, AlipayHK users can get a HK$135 travel insurance premium voucher on the platform which enables them to purchase Blue Cross’s Travel Smart 5-day single-trip cover at only HK$1 (original price HK$136). Users may choose to grab a HK$20 premium voucher which can be used for purchases of any Blue Cross insurance plan with a premium amount of HK$100 or above. Premium vouchers are limited and available on a first-come, first-served basis while stock lasts.

From now on, customers who enrol in Travel Smart Single-trip Cover or Multi-trip Cover through Blue Cross website www.bluecross.com.hk or Blue Cross HK App can use AlipayHK to settle payment. Blue Cross and AlipayHK will continue to work together to bring customers more delightful surprises.

Ms. Tse added, “Blue Cross has been partnering with different membership programmes, such as ‘Asia Miles’ by Cathay Pacific, which bring an array of exclusive offers and rewards to members, a win-win for everyone indeed. Going forward, we will continue our drive to develop diverse and innovative products that will delight our customers while addressing their protection needs. We will also continue to strengthen our distribution network – both online and offline – to foster a one-stop, seamless customer experience.”

SmartPoints for Asia Miles or e-voucher redemption

Established for a decade, Blue Cross SmartClub has been offering its members an array of exciting privileges in collaboration with different merchants. Members earn 1 SmartPoint for every HK$1 net premium spent upon successful enrolment via SmartClub website. With an accumulated 1,000 SmartPoints, they can redeem 200 Asia Miles or a HK$50 e-voucher from Towngas Fun, Deliveroo, AIRSIM, or Francfranc.

^ The offers are subject to relevant terms & conditions.

Disclaimers:

  • This press release is for distribution in Hong Kong only. The distribution of this press release is not and shall not be construed as an offer to sell or a solicitation to buy or a provision of any insurance product outside Hong Kong.
  • Blue Cross (Asia-Pacific) Insurance Limited is a subsidiary of AIA Group Limited. It is not affiliated with or related in any way to Blue Cross and Blue Shield Association or any of its affiliates or licensees.

Hashtag: #BlueCross #藍十字

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

Blue Cross (Asia-Pacific) Insurance Limited

Blue Cross (Asia-Pacific) Insurance Limited (“Blue Cross”) is a subsidiary of AIA Group Limited. With over 50 years of operational experience in the insurance industry, Blue Cross provides a comprehensive range of products and services including medical, travel and general insurance, which cater to the needs of both individual and corporate customers. Blue Cross distributes its products through various channels, including AIA agency force, online platform, direct sales, BEA network, insurance agents and brokers, as well as travel agencies.

In 2023, Blue Cross was assigned a financial strength rating of A+ (stable outlook) and an issuer credit rating of A+ (stable outlook) by S&P Global Ratings.

VinFast Founder launches Global EV Charging Stations Company V-Green


HANOI, VIETNAM – Media OutReach Newswire – 18 March 2024 – In Hanoi, Vietnam, March 18th – Mr. Pham Nhat Vuong, Chairman of Vingroup Corporation and founder of VinFast, announced the establishment of V-Green Global Charging Station Development Company (V-Green). V-Green’s mission is twofold: investing in the development of a comprehensive charging infrastructure system that prioritizes supporting VinFast vehicles, and propelling Vietnam towards becoming one of the world’s leaders in electric vehicle charging station density.

image-1.jpeg

Spun off from VinFast’s charging station development division, V-Green, majority-owned by Mr. Pham with a 90% stake, will operate as a global partner, spearheading the creation of a comprehensive charging network. This strategic move will allow V-Green to focus solely on infrastructure investment independently from VinFast, and enable the Vietnamese electric manufacturer to prioritize market expansion and sustainable development.

To achieve its goal of developing a green ecosystem and contributing to the electric vehicle transition, V-Green will seek better access to and mobilize capital with preferential interest rates. This capital will fuel VinFast’s rapid expansion into international markets.

In the initial phase, V-Green will directly search for land and partners to establish and expand its charging network in key markets around the world. It will also cooperate with other charging companies to provide charging services to VinFast electric vehicle owners.

In Vietnam, V-Green will be responsible for operating and managing VinFast’s existing charging network. V-Green will additionally invest 10 trillion VND (approximately $404 million) over the next two years to build new stations, upgrade and complete its existing network. With this threefold increase in infrastructure investment compared to VinFast’s initial plan, V-Green aims to establish charging stations nationwide and make Vietnam one of the world’s leading countries in charging infrastructure for electric vehicles.

After about five years of operation, depending on each market and actual fundraising capacity, V-Green may consider expanding charging services to other EV manufacturers in addition to VinFast.

Mr. Nguyen Duc Thanh, CEO of V-Green, stated: “The decision by VinFast’s Founder to establish V-Green is a strategic step to globally support and promote VinFast’s sustainable development. Chairman Pham Nhat Vuong’s willingness to use his personal assets to support V-Green demonstrates this commitment. It reduces VinFast’s infrastructure investment needs and provides maximum support for the EV manufacturer’s rapid development. This affirms a strong determination to promote green transportation in Vietnam and worldwide.”

As previously announced, VinFast will expand to at least 50 countries around the world in 2024. In addition to key markets like the US, Canada, and Europe, VinFast is expanding fast into neighboring Asian countries such as India, Indonesia, Thailand, and the Philippines. The company is also entering new markets in the Middle East and Africa, with Oman, Nigeria and Ghana being the first ones.

In addition to Vietnam, VinFast is currently building electric vehicle manufacturing plants in the US and India. The company also plans to establish a factory in Indonesia.

Hashtag: #VinFast

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

Laos Records 630 Road Accidents in February, with 101 Deaths

Laos Records 630 Road Accidents in February, with 101 Deaths
[FILE] This image is used only for representational purpose (photo: Vientiane Mai)

Laos saw a decrease in road accidents, with a total of 630 incidents recorded in February, marking a drop of 143 compared to the previous month.

Russian Embassy in Laos Facilitates Presidential Election Polls: Putin Secures Victory with Introduction of Electronic Voting

Russian Ambassador to Laos, Vladimir Kalinin (Photo: Pathet Lao Daily)

President Vladimir Putin has clinched victory in the 8th Russian presidential election, securing his continuous tenure over Russia until 2030. 

Thailand Busts Sex Trade Syndicate: Cambodian Woman, Four Lao Women Apprehended

Thailand Busts Sex Trade Syndicate: Cambodian Woman, Four Lao Women Apprehended
A woman seen in the photo, blurred by police, is one of four Lao women arrested for allegedly providing sex services at a resort in Bang Bung district, Chon Buri province. (Photo: Central Investigation Bureau)

Thailand’s Anti-Trafficking in Persons Division (ATPD) apprehended a 36-year-old Cambodian woman, identified as Sofia, on 15 March for allegedly luring four Lao women (aged 21, 24, 28, and 38) into the sex trade at a resort in Ban Bung district of Chon Buri, Thailand.

EU-ASEAN Relations Reach New Heights with New Development Projects in Laos, the Region

Jutta Urpilainen, European Commissioner for International Partnerships, visits a local school in Vientiane on 14 March.

The longstanding partnership between Laos and the European Union (EU) reached new heights with the recent official visit of Jutta Urpilainen, European Commissioner for International Partnerships, to the Southeast Asian nation. Commissioner Urpilainen’s visit aimed to strengthen ties and explore trade opportunities between Laos and the EU.

During her visit, on 14 March in Vientiane Capital, the commissioner launched a major program to support sustainable and inclusive value chains for coffee, tea, and forest-based products in Laos.

The program, titled “Team Europe Partnership with Laos for Sustainable Trade, Investment, and Connectivity in Agriculture and Forestry (TCAF),” unveiled the same day, aims to improve connections to regional and global markets by fixing national road 2, which leads to Thailand and Vietnam.

With funding of nearly USD 102 million from the EU and its member states, TCAF seeks to foster collaboration between Laos and the EU to address deforestation, promote sustainable land use, and develop resilient crops in the face of climate change.

In her remarks, Urpilainen highlighted the program’s benefits for rural communities, including diversifying incomes, promoting decent working conditions, increasing domestic production, exporting sustainable agricultural and forest products, and boosting public revenue.

“TICAF marks a milestone and is an excellent illustration of how we have translated our Global Gateway and Green Deal objectives in our partnership with Laos while ensuring a meaningful contribution to the Sustainable Development Goals and leaving no one behind,” noted Urpilainen.

At the event, Khamjane Vongphosy, the Minister for Planning and Investment, also commended the support from the Team Europe Strategy 2021-2025.

“This cooperation highlights the harmonization and consolidation of resources from the Development Partner to support the implementation of priorities outlined under the 9th National Socio-Economic Development Plan 2021-2025,” said Khamjane.

The TICAF program, integral to Team Europe’s strategy in Laos, seeks to strengthen partnerships between the government, academia, the private sector, and local communities. It will prioritize skills development, social protection, trade facilitation, and rural road repair, with support from other Team Europe projects.

In a separate event, Urpilainen visited a local school in the capital to celebrate the success of Khang Panya Lao, Laos’ top digital learning platform. 

The platform, launched in 2021 by the Ministry of Education and Sports (MoES), aimed to address the education challenges posed by COVID-19. It is supported by the EU and is part of UNICEF’s Learning Passport program created in collaboration with Microsoft.

The Commissioner presented tablets to the MoES and the school, showcasing how digital tools can improve learning for students and teachers.

“This premiere digital learning platform, Khang Panya Lao, exemplifies how collaboration and innovation can address the challenges faced by learners and educators […],” said the Commissioner.

Education and Sports Minister Phout Simmalavong emphasized the platform’s role in bridging the digital divide and ensuring equitable access to quality education for all children. 

Over 140,000 users are now registered on Khang Panya Lao, providing education from pre-primary to Grade 12 and improving digital skills for students and teachers.

To further strengthen the relationship between the EU and Laos, Commissioner Urpilainen met with Lao Prime Minister Sonexay Siphandone and Deputy Prime Minister Saleumxay Kommasith. The discussions centered on enhancing ties, working together, and achieving common goals within the EU-ASEAN strategic partnership, especially focusing on the EU Global Gateway agenda.

“The EU is firmly committed to helping you [Laos] strengthen the unity and integration. So, let’s continue developing quality partnerships that bind us in protecting and doing good to the people, […]” says Urpilainen during the EU’s commissioner’s reception with Lao government officials.

The cooperation between Laos and Europe continues to grow, with aid increasing from EUR 312 million (USD 339 million) to EUR 550 million (USD 598 million) in the 2021-2025 plan, focusing on green economy, human capital, and governance.

Laos and the EU have had good relations since establishing ties in November 1975, and this year marks the 49th anniversary of their bilateral relations.

A Regional Perspective

In an exclusive interview with the Laotian Times, Sujiro Seam, the EU Ambassador to ASEAN, emphasized the pivotal role of enhancing ties between not only the EU and Laos but also with the region. Sujiro Seam believes in the high potential benefits for Southeast Asia stemming from the EU-ASEAN Global Gateway initiative.

Credit: EU Delegation to ASEAN

“Global Getaway is an initiative from the European Union to compensate for the lack of investments in infrastructure around the world, [which] focuses on five key priorities such as transportation, energy, digital connectivity, health, and education and research, ” he said.

Highlighting the substantial investment of over USD 10.8 billion allocated to ASEAN regions, the ambassador emphasized the far-reaching impact of these projects, both locally and regionally. Notably, he pointed out the significance of initiatives like TCAF in bolstering local products and infrastructure.

Seam also shed light on various regional projects, such as green transitions in Indonesia and Vietnam, water initiatives in Cambodia, and port developments in Malaysia, all aimed at fostering sustainable development across the region.

Pledging to deepen ties between the EU and ASEAN nations, Seam reaffirmed the EU’s commitment to actively engaging with ASEAN, particularly through strategic partnerships established in 2020. He emphasized the EU’s dedication to being a proactive ASEAN member, ensuring participation in key summits and fostering regular dialogue with ASEAN nations.

Meanwhile, as discussions continue between EU and Lao officials, including talks with Prime Minister Sonexay Siphandone and Deputy Prime Minister Saleumxay Kommasith, the prospects for deeper ties and collaborative initiatives remain promising.