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Uni-Bio Science Group Announces 2024 Interim Results


Achieved Record High Revenue of HK$273.6M and Net Profit of HK$67.4M
Further Penetration to Osteoporosis, Ophthalmology, and Medical Aesthetic Device Markets

HONG KONG SAR – EQS Newswire – 28 August 2024 – A fully integrated biopharmaceutical company – Uni-Bio Science Group Limited (“Uni-Bio Science”, together with its subsidiaries referred to as the “Group”, stock code: 0690.HK), is pleased to announce its interim results for the six months ended 30 June 2024 (the “Period”).

Key Accomplishments in the First Half of 2024

During the Period, the Group achieved a spectrum of accomplishments, for both of its marketed products and innovative biologics. The key highlights include:

  • The Group’s revenue achieved an increase of 9.5% year-on-year (“YoY”) to approximately HK$273.6 million, whilst improving gross profit margin by 4.7 percentage points to 84.3%. Sales of Pinup® performed well, registered an increase of 12.8% YoY. The Group’s newly launched product Bogutai® achieved sales of HK$18.8 million in just four months, exceeding initial expectations.
  • The Group achieved a record-breaking profit of approximately HK$67.4 million for the Period, representing a significant increase of 71.0% YoY, underscoring the Group’s effective strategies and operational efficiency.
  • In January 2024, the China National Medical Products Administration (“NMPA”) granted official approval for Bogutai®‘s marketing launch, marking a pivotal milestone for the Group in orthopedic disease management. Sales of Bogutai® commenced in the first half of 2024. With its superior safety profile and competitive pricing, Bogutai® promises to revolutionize global drug administration, making it more accessible and patient-friendly.
  • In January 2024, the NMPA accepted the marketing application for Diquafosol Sodium eye drops, marking a significant advancement for the Group’s ophthalmology drug portfolio. Diquafosol Sodium is anticipated to receive marketing approval in the first quarter of 2025, complementing the existing ophthalmic drug portfolio and becoming one of the first BFS Diquafosol products to be listed.
  • The Group officially launched its first advanced skincare raw material product, Skbrella™ FN, with sales contributions expected to begin in the second half of 2024. The Group is leveraging endorsements from key opinion leaders (KOLs) in dermatology and capitalizing on the synergistic effects of Skbrella™ FN and EGF to enhance the brand’s professionalism and market appeal.
  • The Group is dedicated to the research and promotion of isavuconazonium sulfate, providing more effective antifungal treatment options for patients worldwide and improving their quality of life. During the Period, the Group completed the pharmaceutical research and is preparing to conduct pre-Bioequivalence studies, with the official market launch expected in the first half of 2027.
  • In May 2024, the Group cooperated with Great Bay Bio (GBB) and Pebble Accelerator, a subsidiary of Tigermed to joint development of innovative weight reduction drugs, aiming to revolutionize the treatment of obesity. Through this collaboration, we seek to establish a comprehensive ecological industry chain, spanning from target discovery to antibody generation, druggability verification, process development, clinical pipeline, and ultimately, commercialization.


Interim Results

For the Period, the Group recorded revenue of approximately HK$273.6 million, representing an increase of 9.5% YoY. The increase in revenue was mainly attributable to the sales growth of Pinup® and the Group’s newly launched product Bogutai®. Pinup® recorded an increase of 12.8% in revenue from approximately HK$124.8 million to approximately HK$140.9 million for the Period. The increase was attributable to the successfully re-selected for the centralized procurement and the procurement validity period is set for two years. The Group launched Bogutai® in March 2024 and it made an immediate financial contribution, achieving sales of HK$18.8 million in just four months. During the Period, revenue generated from GeneTime® was approximately HK$91.3 million, representing a decrease of 4.8% YoY, mainly due to the more cautious procurement strategies adopted by public hospitals due to stricter governance. Yet, the Group continues to diversify its sales channel, such as e-commerce platforms, online hospitals and pharmacies. GeneSoft® recorded a decrease in revenue from approximately HK$22.3 million to approximately HK$18.9 million, representing a decrease of 15.4% YoY. During the Period, revenue from Boshutai® declined from approximately HK$6.9 million to approximately HK$3.8 million, representing a decrease of 45.7%.

Gross profit was approximately HK$230.6 million, representing an increase of 16.0% as compared with approximately HK$198.9 million for the first half of 2023. Gross profit margin increased by 4.7 percentage points YoY to 84.3%, which was attributable to the Group’s ongoing efforts in optimizing its supply chain and effectively lowering the procurement cost of API. The Group kept a tight rein on general and administrative expenses, which only accounted for 8.7% of revenue for the Period as compared with 9.4% for the same period last year. Selling and distribution expenses for the Period also decreased to 42.8% of revenue from 50.5% that of the same period last year, mainly due to the marketing expenses of Pinup® decreased and the Group’s further optimization of its salesforce. The R&D expenses increased by 77.9% YoY to approximately HK$20.9 million and the amount was in step with the Group’s product research status.

The Group achieved a record-breaking profit of approximately HK$67.4 million for the Period, representing a significant increase of 71.0% YoY. The substantial profit increase, driven by the launch of a new drug, the organic growth of marketed drugs, effective marketing strategies, strict cost control and ongoing supply chain optimization. This indicates that the Group is on the right path for sustainable profit growth.

Prospects

With advancements in biotechnology and strong governmental backing, the pharmaceutical landscape in China is poised for significant growth with a compound annual growth rate (“CAGR”) of 7.5% from 2024 to 2032, according to Imarc Group. Alongside traditional pharmaceuticals, the aesthetic medical sector is gaining prominence in the market. Forecasts indicate that the aesthetic medical market is set to sustain a CAGR growth of 10% to 15% between 2024 and 2027, primarily attributing to the increasing emphasis on beauty standards and the increased spending in this domain, particularly by individuals with moderate to high incomes. The two sectors are the Group’s focus, showcasing massive expansion opportunities for the Group.

Looking forward, Mr. Kingsley Leung, Chairman of Uni-Bio Science said, “We are committed to establishing a highly commercial-driven and specialized boutique R&D platform where we tightly integrate research and production under one roof. Our focus is on growing our existing products and launching new high value generic and aesthetic medical products, which we believe will continue to provide strong cash flow in the short term and support the Group’s ongoing R&D on proprietary biopharmaceutical products. This includes expanding into new areas, such as best-in-class biologics for ophthalmology and obesity.

In early July 2024, we have partnered with Chongqing Minji Medical Device Co., Ltd. to tap into the medical aesthetic device sector. This collaboration grants us exclusive distribution rights for their premier products and allows us to co-develop medical device products leveraging the Group’s patented core ingredient, Skbrella™ FN. This joint initiative aims to introduce China’s first batch of class II medical devices utilizing fibronectin, bolstering the Group’s leadership in skincare and medical aesthetics. We expect to generate over RMB30 million annually in revenue from the aesthetic medical segment within the next two to three years.

To boost product awareness and market shares, we have implemented an omnichannel strategy by collaborating with internet hospitals, establishing an official GeneTime® flagship store on JD.com and partnering with over 200 online distributors. In terms of offline efforts, we have partnered with top national chain stores and retailers renowned for strong brand presence and customer trust, as we believe this provides additional opportunities for the Group to engage more potential customers. These efforts aim to further bolster product sales and establish a robust foundation for the future launch of upcoming products.

To support our upcoming sales and diversified product range, our new factory in Dongguan, Guangdong, has completed construction. The factory is expected to produce up to 19 million units per year of the Group’s signature products, GeneTime® and GeneSoft®, representing an annual output value exceeding RMB 1 billion. This factory also features a BFS packaging line for the production of single-dose GeneSoft® and Diquafosol Sodium Eye Drops. The BFS packaging research and archival filing are expected to conclude by 2025, with the launch of GeneSoft® and Diquafosol Sodium Eye Drops in BFS packaging anticipated in 2026.”

Hashtag: #Uni-BioScienceGroup

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

About Uni-Bio Science Group Limited

Uni-Bio Science Group Limited is principally engaged in the research and development, manufacture and distribution of pharmaceutical products. The research and development centre is fully equipped with a complete system for the development of genetically-engineered products with a pilot plant test base which is in line with NMPA requirements. The Group also has two GMP manufacturing bases in Beijing and Shenzhen. The Group also has a highly efficient commercialization platform and marketing network. The Group focuses on the development of novel treatments and innovative drugs addressing the therapeutic areas of endocrine such as diabetes and osteoporosis, ophthalmology and dermatology.

Uni-Bio Science Group Limited was listed on the Main Board of the Hong Kong Stock Exchange on November 12, 2001. Stock code: 0690.

For further information, please contact:

PolyU researchers and academic-led startups seize prestigious awards at HICOOL Global Entrepreneur Summit and Entrepreneurship Competition


HONG KONG SAR – Media OutReach Newswire – 28 August 2024 – The Hong Kong Polytechnic University (PolyU) researchers and academic-led startup teams participated for the first time at the HICOOL 2024 Global Entrepreneur Summit and Entrepreneurship Competition, showcasing seven groundbreaking research projects that highlight the University’s exceptional capabilities in research and knowledge transfer. As the only tertiary institution in Hong Kong involved in multiple national space missions, the “Surface Sampling and Packing System” developed and manufactured by the PolyU research team was publicly exhibited outside Hong Kong for the first time. Meanwhile, other PolyU researchers presented innovations and inventions in quantum technology and biomedical engineering which received international recognition and garnered awards.

Led by Prof. Christopher Chao (5th from left) , PolyU Vice-President (Research and Innovation), the researchers and academic-led startup teams participated for the first time at the HICOOL 2024 Global Entrepreneur Summit and Entrepreneurship Competition, showcasing seven ground-breaking research projects that highlight the University’s exceptional capabilities in research and knowledge transfer.
Led by Prof. Christopher Chao (5th from left) , PolyU Vice-President (Research and Innovation), the researchers and academic-led startup teams participated for the first time at the HICOOL 2024 Global Entrepreneur Summit and Entrepreneurship Competition, showcasing seven ground-breaking research projects that highlight the University’s exceptional capabilities in research and knowledge transfer.

In support of the Nation’s first lunar sample return mission, Chang’e 5, and the world’s first lunar far-side sampling for the Chang’e-6 lunar exploration mission, a PolyU research team, led by Prof. YUNG Kai-leung, Sir Sze-yuen Chung Professor in Precision Engineering, Director of the Research Centre for Deep Space Explorations, and Chair Professor of Precision Engineering and Associate Head of the Department of Industrial and Systems Engineering, developed and manufactured the “Surface Sampling and Packing System” in collaboration with the China Academy of Space Technology. Designed by PolyU and manufactured in Hong Kong, the System includes two samplers for collecting loose and sticky forms of lunar regolith, two high temperature near-field cameras, as well as a primary packaging and sealing system for sealing the samples in a container. The System is a testament to the University’s significant contribution to the Nation’s efforts to establish leadership in space exploration and technology.

The entrepreneurship project “Quantum Chip-based Key Distribution System”, led by Prof. LIU Ai-Qun, Chair Professor of Quantum Engineering and Science of the Department of Electrical and Electronic Engineering, Director of the Research Institute for Quantum Technology and Global STEM Professor, was awarded a second prize along with a cash award of one million yuan. The System harnesses the principles of quantum mechanics to provide users with an information-theoretically secure solution to key exchange, ensuring the long-term security of communication. By utilising advanced photonic chips, it achieves the miniaturisation and integration of quantum communication hardware, significantly reducing the cost of quantum communication equipment while enhancing the flexibility and broad application of quantum encryption.

Scolioscan®, the world’s first radiation-free 3D ultrasound scoliosis assessment system, was developed by a research team led by Prof. ZHENG Yongping, Henry G. Leong Professor in Biomedical Engineering at PolyU and Co-founder of Telefield Medical Imaging Limited (under Aitrasound group). The innovation secured a third prize and a cash award of half a million yuan. Scolioscan® addresses the drawback of frequent X-ray exposure by offering a radiation-free and accurate spine evaluation that allows individuals to undergo frequent safe spine check-ups. This innovation allows doctors to continuously monitor the progression of scoliosis in their patients and develop personalised treatment plans. The System has successfully completed clinical trials and obtained medical device certification in mainland China, Europe, Australia and Thailand. It is currently in use in hospitals and clinics in more than 20 countries and regions, including Australia, Bosnia, Germany, Italy, the Netherlands, Poland, Malaysia, Romania, mainland China and Hong Kong.

Prof. Christopher CHAO, PolyU Vice-President (Research and Innovation) who led the delegation to participate in the Summit, stated, “Innovations from PolyU research and startup teams stand out among thousands of global competitors. Their achievements reaffirm the effective impact of the University’s PolyImpact philosophy. Through education, research, knowledge transfer and innovative inventions, the University is dedicated to translating research outcomes into impactful applications that deliver lasting and substantial benefits to society. We are committed to strengthening Hong Kong’s overall competitiveness by nurturing research talent, enhancing the local I&T ecosystem and fostering the development of new quality productive forces, all aimed at developing Hong Kong into an international I&T hub.”

Through the PolyVentures ecosystem, the University provides comprehensive entrepreneurial support to its academic- and student-led startups. Five PolyU academic-led startup teams were invited to take part in roadshows during the Summit to showcase their innovations to prospective investors.

  • Scolioscan®: A Radiation-free 3D Ultrasound Scoliosis Assessment System (Prof. Zheng Yongping)
  • K-Shape: The world’s first portable high-definition corneal topographer (Prof. KEE Chea-su, Head and Professor of the School of Optometry, and Co-founder of GOOD Vision Technologies Company Limited/Wellsees Technologies Company Limited)
  • Mutual Cognitive Human-Robot Collaborative Manufacturing System (Dr ZHENG Pai, Associate Professor of the Department of Industrial and Systems Engineering, and Co-founder of CobotAI Limited)
  • Virtual MRI Contrast Enhancement System for Precise Tumour Detection and Treatment (Prof. CAI Jing, Associate Dean of the Faculty of Health and Social Sciences, Professor of the Department of Health Technology and Informatics, and Technical Advisor to MedVision Limited)
  • Quantitative User Experience Evaluation for Spatial Computing: Enhance Delightful User Experiences in XR and Metaverse (Prof. Tommy Minchen WEI, Professor of the Department of Building Environment and Energy Engineering, and Co-founder of Guardian Glow Limited)

Furthermore, the research project on the extraction of a novel bioactive molecule, Oxyphylla A, for the treatment of mild to moderate Parkinson’s disease led by Prof. LEE Ming-yuen, Chair Professor of Biomedical Sciences of the Department of Food Science and Nutrition and Founder of AIM International Pharmaceutical Limited, was also showcased at the Summit.

This year, the HICOOL 2024 Global Entrepreneur Summit and Entrepreneurship Competition was held in Beijing from 23 to 25 August. The event attracted over 500 I&T companies and more than a thousand investors from around the world. This year’s entrepreneurship competition received 7,406 project submissions from 124 countries and regions, with nearly 10,000 entrepreneurs vying for 200 winning spots. Outstanding projects were awarded first, second and third prizes, along with the prestigious Bole Prize. In addition to cash prizes, the winning teams will receive entrepreneurial guidance and support. The competition spans seven technology verticals, including Artificial Intelligence/Virtual Reality/Fintech, Medicine and Healthcare, New Generation Information Technology, High-end Equipment, and more.
Hashtag: #PolyU

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

Beijing E-Town Builds an Internationally Leading Demonstration City for Embodied Intelligent Robot Industry

BEIJING, CHINA – Media OutReach Newswire – 28 August 2024 – As a pioneer in high-quality development for the new era, Beijing E-Town (BDA) is seizing the opportunity to lead the development of the embodied intelligent robot industry. The plan is to build a domestically leading and internationally first-class demonstration city for the embodied intelligent robot industry in two steps.

“By the end of 2026, we aim to achieve full coverage of over ten interactive service application scenarios, attract more than 100 innovative enterprises, gather over 1,000 high-end talents, and reach a mass production capacity of 10,000 embodied intelligent robots. By 2030, we plan to create an embodied intelligent robot innovation ecosystem characterized by ‘full-chain layout, full-stack autonomy, and comprehensive empowerment,’ establishing Beijing as a strategic base, a technological origin, an application demonstration, and a main industrial hub for embodied intelligent robots in China,” stated Kong Lei, Deputy Secretary of the Party Working Committee and Director of the Administrative Committee of the Beijing Economic-Technological Development Area (BDA), during the main forum on “Industrial Development” at the World Robot Conference 2024 (WRC 2024) on August 22.

To achieve the development goals of the demonstration city, Beijing E-Town will implement the “Five Priorities” plan. In terms of advancing key technologies, Beijing E-Town will focus on critical areas such as the “brain,” “cerebellum,” and “limbs” of embodied intelligent robots. It will support key enterprises in strengthening collaborative research on disruptive and leading technologies, accelerate the construction of an innovative industrial technology system, and seize the high ground in embodied intelligent robot technology.

To this end, Beijing E-Town will create an internationally competitive embodied intelligent “brain,” supporting robot companies in collaboration with AI enterprises to conduct research on key technologies of general-purpose large models in the field of embodied intelligent robots. It aims to develop an AI-based general-purpose model that integrates perception, decision-making, and control, achieving internationally advanced levels in task decomposition, execution task quantity, parameter quantity, and robot task capabilities.

Simultaneously, it will develop a globally leading motion control “cerebellum,” accelerate the development of full-body dynamics control algorithms for embodied intelligent robots, continuously improve the control accuracy of high-dynamic walking, and focus on breakthroughs in key technologies such as dynamic arm grasping, agile operations, and full-body coordinated motion control. Furthermore, it will expedite breakthroughs in integrated hardware-software visual technology.

Additionally, the initiative will deepen the systematic layout of critical “machine limbs,” engage in specialized R&D on high-strength, high-integration bodies, lightweight skeletons, high-precision sensors, and more to achieve internationally leading performance parameters. It will focus on critical components like high-performance dedicated chips, servo motors, and reducers to accelerate core technology breakthroughs, continuously improve the technical innovation system, build an efficient collaborative joint research mechanism, and encourage leading enterprises to form innovative consortia, leading upstream and downstream institutions in collaborative research.

Regarding core product advancements, Beijing E-Town will prioritize key products such as whole machines, core components, and software systems, accelerating the industrialization breakthrough of several essential foundational products, and constructing a three-dimensional product matrix of “whole-zero coordination” and “software-hardware integration.” In April this year, the general-purpose humanoid robot platform “Tiangong” was launched in Beijing E-Town, achieving the world’s first humanoid running with a full-sized pure electric humanoid robot.

Continuing to lead the industry, Beijing E-Town aims to develop high-performance whole machine products, establish the world’s first general-purpose embodied intelligent robot “hardware mother platform” and the first multi-capability embodied intelligent “software mother platform.” It will focus on typical fields such as 3C electronics manufacturing and new energy vehicle production, encouraging leading enterprises to develop low-cost interactive, high-precision, and high-reliability embodied intelligent robot whole machine products for extreme environments.

Moreover, it will guide enterprises in focusing on key components such as dedicated sensors, high power density actuators, controllers, and dedicated chips. Additionally, leveraging the leading role of the innovation highland in the information technology application innovation industry, it will develop a specialized operating system for embodied intelligent robots, and expedite the industrialization breakthrough of several essential foundational products.

From innovative achievements to practical implementation, application scenarios have always been a strong suit of Beijing E-Town. At the Xiaomi automobile factory, over 700 robots serve on the production line, and the country’s first certified AI catering robot has been deployed on the streets; the waterjet surgical robot won the 2024 World Intellectual Property Organization Global Award… “Robotics+” has become the norm here.

Moving forward, Beijing E-Town will advance the “first in application scenarios” strategy, leveraging its strong manufacturing base and diverse industrial application scenarios. It will explore the establishment of a composite layout for embodied intelligent robot applications in urban and industrial settings, take the lead in opening a batch of innovative application scenarios, continuously promote the matching of supply and demand in these scenarios, create a permanent robot exhibition hall, and build a city-level engineering test field. By increasing incentives for first-time applications and solutions, Beijing E-Town aims to provide strong support for the rapid deployment of “embodied intelligent robot+” application scenarios.

The area will precisely identify the needs of various fields such as manufacturing, livelihood, special equipment, and more, conducting application demonstrations in “embodied intelligent robots + industry,” “embodied intelligent robots + elderly care,” “embodied intelligent robots + emergency response,” “embodied intelligent robots + education and entertainment,” and “embodied intelligent robots + specialized fields.”

In terms of “leading” in the corporate hierarchy, Beijing E-Town will focus on nurturing leading enterprises in the embodied intelligent robot industry, supporting a group of companies that play a leading role in the embodied intelligent robot industry chain. It will gather leading enterprises with core technologies and independent intellectual property rights and cultivate innovative small and medium-sized enterprises (SMEs), promoting the integrated development of large, medium, and small enterprises and fostering the growth of embodied intelligent robot companies.

Beijing E-Town will also implement an “industry ecosystem pioneering” plan, closely aligning with the entire development needs of the industry chain, enhancing data, platforms, services, and capital resources, and continuously creating an environment that attracts talent from near and far. The goal is to build the largest and most information-dense open-source embodied intelligent dataset in the industry, a phased open-source sharing model, and a “rainforest-style” full-industry-chain ecosystem for embodied intelligent robots characterized by “resource coordination, element aggregation, and innovative collaboration.”

Kong Lei explained that, as the permanent venue for the World Robot Conference, Beijing E-Town has established the “Five Ones” working mechanism: “one park, a batch of platforms, one center, one fund, and a group of talents,” to accelerate the construction of a national hub for the robotics industry.

At last year’s World Robot Conference, Beijing E-Town released a three-year action plan for high-quality development of the robotics industry. Guided by this plan, Beijing E-Town has accelerated the aggregation of innovative elements, significantly improved innovation capabilities, fully released innovative vitality, and continuously strengthened innovation entities.

To date, it has more than 100 robot ecosystem enterprises, over half of which are specialized and innovative enterprises, with a total output value of nearly 10 billion yuan, accounting for 50% of the city’s robotics industry. It has achieved independent control over key components such as precision reducers and high-performance servo starters and made innovative breakthroughs in products like specialized intelligent drilling machines.

Particularly in the embodied intelligent robot industry, Beijing E-Town has focused on building high-energy innovation platforms represented by the Beijing Embodied Intelligence Robot Innovation Center and has established leading companies such as UBTECH, along with key component companies like Chietcom, Tsino-Dynatron, and Lingzu Times, essentially forming a complete embodied intelligent robot industry chain that covers core components, main bodies, and applications.

Kong Lei stated that as the main hub for high-end industries in Beijing, Beijing E-Town has established the “44637” development framework, which includes four national strategies as its guidance (focused on building a national highland for the integrated circuit industry, continuously creating the world’s first high-level autonomous driving demonstration zone, constructing a high-quality national information technology application innovation base, and establishing the country’s first data infrastructure pilot zone at a high standard). It also consolidates and strengthens four leading industries (new-generation information technology, new energy and intelligent connected vehicles, biotechnology and big health, robotics and intelligent manufacturing), comprehensively deploys six future industries (future information, future health, future manufacturing, future energy, future materials, and future space), enhances three integration empowerments (digital-physical integration, industrial-financial integration, and cultural-scientific integration), and builds seven support systems (industrial organization, innovation cultivation, resource guarantee, talent services, open collaboration, urban vitality, and party leadership).

Moving forward, Beijing E-Town will consistently adhere to the principle that “what the country needs is what E-Town will do, what enterprises need is what E-Town will facilitate, and what talent needs is what E-Town will provide.” With a more open stance, more precise policies, more efficient services, higher-quality ecosystems, and a more sustainable environment, Beijing E-Town aims to provide comprehensive, full-process, and all-element support for talent investment, business development, and enterprise innovationHashtag: #BeijingE-Town

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

TOJOY Unveils “Second Curve of Unicorn Enterprise Increase” Model to Empower Businesses and Drive Growth


HONG KONG SAR – Media OutReach Newswire – 28 August 2024 – The 5th China Unicorn Carnival, hosted by TOJOY Shared Group, was a resounding success in Beijing, China, attracting over 80 distinguished guests and more than 2,000 entrepreneurs, fostering a dynamic ecosystem for innovative businesses and China’s unicorn enterprises.

TOJOY Chairman and CEO, Mr. Ge Jun, emphasized the need for businesses to transition from traditional capital-driven models to resource empowerment. He highlighted that the
TOJOY Chairman and CEO, Mr. Ge Jun, emphasized the need for businesses to transition from traditional capital-driven models to resource empowerment. He highlighted that the “Second Curve of Unicorn Enterprise Increase ” model, launched by TOJOY, is specifically designed to facilitate this shift and help companies overcome development bottlenecks.

During the event, TOJOY explored the crucial role of China’s unicorn businesses in driving the development of “new quality productive forces”, a key government policy direction. TOJOY also announced the launch of the “Second Curve of Unicorn Enterprise Increase ” model, signifying a new chapter in its enterprise acceleration endeavors.

Beyond Capital: The “Second Curve” Model for Unicorn Success

TOJOY, a leading enterprise incubator and unicorn accelerator platform in China, has accumulated rich practical experience in the market operation of enterprise acceleration. The Chairman of the Board and CEO of TOJOY, Mr. Ge Jun, stated at the event that, in the face of the challenges faced by unicorn enterprises today, businesses need to break through the traditional capital-driven model and shift towards resource empowerment. This involves integrating resources, sharing services, and implementing innovative strategies to overcome development bottlenecks.

TOJOY’s “Second Curve” Model: A New Approach to Sustainable Growth for Unicorns

To empower businesses in their transition, TOJOY has introduced the “Second Curve of Unicorn Enterprise Increase ” model. This model emphasizes a strategic shift away from sole reliance on capital, encouraging enterprises to leverage platform power. Through comprehensive resource sharing and integrated service support, the “Second Curve” model helps companies overcome bottlenecks and achieve sustainable growth.

TOJOY’s “Second Curve of Unicorn Enterprise Increase ” model provides financial support and comprehensive services such as resource matching, technical support, and management support, creating an efficient growth ecosystem for growth-stage enterprises.

Mr. Ge Jun emphasized, “TOJOY possesses mature resource integration capabilities, a professional service system, and a deep understanding of the market. Our shared platform connects traditional enterprises with innovators, bridging the information gap and helping businesses identify suitable innovation partners.”

TOJOY and GuoYan Institute of Economic Research Release White Paper on Unicorn Enterprise Growth

In addition to launching the new model, TOJOY recently collaborated with GuoYan Institute of Economic Research to release the “White Paper on the Growth Path of China’s Unicorn Enterprises” (“White Paper”) at the Conference Center of the National People’s Congress. Themed “Forecasting 2024 Chinese Economy”, the paper explored the vital role of Chinese unicorn companies in driving the development of new production forces. The White Paper also provided businesses with market research, forecasting, practical advice, and guidance to help them navigate challenges.

The White Paper presents a detailed analysis of the distribution of unicorn companies across China’s industries, highlighting the “Software and Information Technology Services” sector as the leading industry,with 50 unicorn companies. This segment accounts for a substantial 9.6% share of China’s total unicorn population. Closely following are the “Other Technology Promotion Services” and “Computer Communication, and Other Electronic Equipment Manufacturing” sectors, with 43 and 28 unicorn companies respectively. These segments have captured 8.2% and 5.4% of the overall unicorn market share, underscoring their growing prominence.

Concurrently, the share of technology innovation among potential unicorns has also been continuously rising. Among the 924 potential unicorns, 140 are from the “Other Technology Promotion Services” industry, accounting for 15.2% of the total. As for the “Research and Experimental Development” and “Software and Information Technology Services” sectors, they possess 105 and 77 potential unicorn companies respectively, accounting for 11.4% and 8.3% respectively.

The data mentioned above reflects that unicorns in China have shifted to being technology-driven, with the proportion of technology unicorn enterprises continuously rising. This indicates that unicorns, as carriers of the nation’s scientific and technological innovation capabilities and development potential, are playing a crucial role in cultivating new productive forces.

The White Paper, a joint effort of TOJOY and the National Research Institute of Economics, illuminates the growth path of Chinese unicorn companies and underscores their critical role in driving new production forces in an increasingly competitive global tech landscape.

Hashtag: #Fintech #Incubator #Entrepreneur

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

Hong Kong’s Legendary Celebrity Dining Spot Waso Cafe Poised to Make Its Debut at Galaxy Macau

Celebrities Pakho Chau, Venus Wong and Stephanie Cheng will be present official opening on September 24, the brand’s first and only branch in Macau


MACAU SAR – Media OutReach Newswire – 28 August 2024 – Galaxy Macau™ continues to welcome renowned restaurant brands from all over the world, allowing guests to savor authentic culinary delights. And this autumn sees Hong Kong celebrity hangout Waso Cafe officially opening its doors at the multi-award-winning integrated resort on September 24, marking its first and only branch in the city.

Hong Kong’s celebrity-beloved Waso Cafe will officially open its doors at Galaxy Macau on September 24, its founder Waso, celebrities Pakho Chau, Venus Wong and Stephanie Cheng will be present for the grand opening ceremony.
Hong Kong’s celebrity-beloved Waso Cafe will officially open its doors at Galaxy Macau on September 24, its founder Waso, celebrities Pakho Chau, Venus Wong and Stephanie Cheng will be present for the grand opening ceremony.

The legendary cha chaan teng – which is renowned for being frequented by stars from Mainland China, Hong Kong, and Taiwan – will introduce not only its signature dishes such as “Macaroni in Tomato Soup with Pork Chop and Chicken Wings,” “Pork Liver and Beef with Rice Noodles in Century Egg and Coriander Soup”, and “Hong Kong Style Milk Tea”, but also exclusive dishes with a unique blend of Macanese and Portuguese flavors, such as “Crispy Bun with Chorizo and Egg” and “Deep-fried Chicken Drumstick Marinated with Coloane Shrimp Paste”. Food lovers should keep their eyes peeled!

The iconic combination of “Waso Signature Pineapple Bun” and “Hong Kong-Style Milk Tea” has gradually become the “standard order” for many visitors.
The iconic combination of “Waso Signature Pineapple Bun” and “Hong Kong-Style Milk Tea” has gradually become the “standard order” for many visitors.

Hong Kong cha chaan teng culture has a storied past, dating back to the vibrant 1960s and 70s, when such restaurants, influenced by Western dining culture, began to appear and flourish, starting by serving refreshing beverages like red bean iced drinks, iced coffee, and milk tea. Waso Cafe, which has its original restaurant along Yuen Long, Hong Kong, often draws inspiration from daily life to create its menus. The seemingly simple “Waso Toast with Egg Salad,” for example, was actually Waso’s youngest son’s favorite in his childhood. She prepared it for him with love, creating cherished memories that have become synonymous with Waso Cafe.

“Macaroni in Tomato Soup with Pork Chop and Chicken Wings” is one of the signature dishes at Waso Cafe.
“Macaroni in Tomato Soup with Pork Chop and Chicken Wings” is one of the signature dishes at Waso Cafe.

Waso also has a deep appreciation for the varied palates of her neighbors. When regulars walk in and order their “usual” it reflects the close bonds forged over a shared meal. Over time, Waso Cafe has gained immense popularity among locals, becoming a household name not just in Yuen Long but across the region. Celebrities from Mainland China, Hong Kong, and Taiwan have made the pilgrimage to Waso Cafe, eager to taste the signature dishes. The walls are adorned with photos of stars attracting fans from far and wide who hope to catch a glimpse of their idols in this humble yet iconic cha chaan teng.

Waso Cafe’s iconic combination of “Waso Signature Pineapple Bun” and “Hong Kong Style Milk Tea” has gained fame across Hong Kong. The golden-hued signature pineapple bun boasts a crispy exterior and soft interior, complemented by a tender half-cooked egg and fresh tomato slices, and finished with a fragrant slice of butter. As the butter melts into the warm bun, its crispiness and rich aroma explode with every bite. This combo has set an astonishing record of selling more than 600 buns in a single day at Waso Cafe’s Tsim Sha Tsui branch, elevating the traditional Hong Kong pineapple bun to a new level and making it a must-order item. And for the unforgettable “Hong Kong Style Milk Tea” Waso carefully selects top-grade tea leaves and undergoes a precise brewing process to create a beverage that delights the taste buds of customers. The “Waso Pineapple Bun and Milk Tea” combo has gradually become the “standard order” for many visitors, a match made in heaven for food enthusiasts!

Another classic dish is the “Waso Soft Bun with Cheese, Corned Beef and Egg.” The thick cheese and generous portion of salted beef complement each other perfectly, paired with a sweetened soft bun, leaving a lingering taste and endless delight. The Macau branch, being the first and only one in the city, incorporates elements of Portuguese cuisine, such as the unique “Tossed Noodles with Portuguese Style Minced Pork”, “Pork Chop and Spicy Sardine in Pineapple Bun” and “Foie Gras, Beef and Egg with Rice Noodles in Tomato Soup”. The culinary cultures of Hong Kong, Macau, and Portugal are beautifully fused, taking your taste buds on an unforgettable journey.

The interior design of Waso Cafe at Galaxy Macau is based on the concept of Hong Kong’s traditional “tea stalls,” with the main color scheme consisting of dark green paired with a bright off-white, blending traditional cha chaan teng culture with modern design elements. Details such as booth seating, wrought-iron windows, translucent glass, and tiled flooring create an atmosphere that is youthful yet nostalgic. The interior decorations include walls adorned with friendly and interesting Cantonese dialect phrases, showcasing the unique language of old-school cha chaan teng. Cha chaan teng lingo such as “Wang Ah Jie” (referring to hot coffee) and “black cow” (referring to an ice cream float made with Coke) are displayed.

Visitors can capture memorable photos at the classic “tea stall” tables and the traditional take-away glass counters while indulging in authentic Hong Kong cha chaan teng fare. This experience allows them to immerse themselves in Cantonese culture and appreciate the dedication Waso has put into crafting every dish, as expressed in the phrase, “Guaranteed to bring you back for more”.

Starting today, you can visit Waso Cafe at Galaxy Macau and be one of the first to check out this much-loved dining spot. Celebrities Pakho Chau, Venus Wong and Stephanie Cheng will be present for the grand opening ceremony on September 24. Please stay tuned to Galaxy Macau’s official website, www.galaxymacau.com, or follow our social media accounts on WeChat, TikTok, and RED to keep up with the latest news about Waso Cafe at Galaxy Macau. Waso Cafe address: G114, Ground Floor, Galaxy Macau (near Banyan Tree Macau, Promenade West).

Seasonal Culinary Creations to Delight Your Taste Buds

With a pledge to showcase “Authentic Flavor from the Heart,” Galaxy Macau continually innovates by sourcing fresh, seasonal ingredients from around the world to craft authentic and meticulously prepared dishes for diners, taking them on a cultural and gastronomic journey as they dive deep into Macau’s finest culinary offerings.

Early autumn is the prime season for mushrooms, and Galaxy Macau Tam Chai Yu Chun has launched a mushroom-themed menu which includes mouth-watering dishes such as “Pan-fried Fresh Yunnan Matsutake Mushroom” and “Braised Chicken with ‘Laorentou’ Mushroom”. Renowned as the king of all edible mushrooms, Yunnan Matsutake mushroom is historically considered a tribute-grade delicacy with a value comparable to gold. Its thick and tender texture comes with a unique fragrance, which instantly releases when pan-seared with French butter. ‘Laorentou’ mushrooms, on the other hand, grow only at an altitude of 3,000 meters on the Yunnan-Guizhou Plateau and are extremely rare and precious.

The collaboration between Galaxy Macau Tam Chai Yu Chun and Macau local shrimp paste Kong Hing Loong offers a variety of new delights that will surprise even the most seasoned food connoisseurs. Mr. Pong, the third-generation heir of Kong Hing Loong, insists on following traditional methods to produce quality shrimp paste that not only boasts a deep purple hue, but also exudes a rich and savory aroma. By combining innovation and traditions, this collaboration is bound to showcase the nostalgic charm of Macau’s past as a fishing village.

“Stewed Chicken with Fish Maw in Shrimp Paste,” made with juicy and tender Qingyuan chicken simmered with shrimp paste and fish maw, delivers a rich flavor without being overpowering, while “Steamed Sliced Pork with Shrimp Paste” is seasoned with the brand’s signature shrimp paste, offering a fragrant aroma in every bite that pairs perfectly with the pork’s tender texture. Visit Galaxy Macau Tam Chai Yu Chun before September 30 to enjoy more seasonal autumn dishes.

A Collaboration Between the World’s Top Pastry Masters

Galaxy Macau proudly presents a myriad of delectable pastries masterfully created by two award-winning pastry chefs, offering a dual sensory experience that combines visual beauty with delightful flavors. Famous for its creative pastries, CHA BEI is currently showcasing a 130cm tall large-scale sugar art piece, the brainchild of two renowned pastry masters: Chef Weiloon Tan, named as World Pastry Champion in 2019, and Chef Lok Hin Yam, winner of the Silver Award in the Valrhona C3 Chocolate Chef Competition in North America in 2017.

CHA BEI is offering a limited-time afternoon tea set designed by these two distinguished chefs, featuring their signature pastries such as “Mille Feuille Apple Tarte Tatin” (Weiloon Tan’s signature cake x Lok Hin Yam’s signature apple tarte), “Chocolate Mango Yuzu,” “Chrysanthemum Pear,” and “Chocolate Kung Fu Tea.” Each pastry embodies the traditional flavors of the chefs’ hometowns and years of culinary expertise. Among them, “Chocolate Mango Yuzu” is the dish that won Chef Tan the championship. Having grown up in Malaysia, Chef Yam has a deep interest in Chinese culture, with a particular fondness for the serene and reclusive symbolism of the chrysanthemum. He has incorporated cultural elements into his creations, emphasizing an inherent power to evoke cultural memories that hold diverse and deeply meaningful interpretations.

Hashtag: #WasoCafe #GalaxyMacau

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

About Galaxy Macau Integrated Resort

Galaxy Macau™, The World-class Luxury Integrated Resort delivers the “Most Spectacular Entertainment and Leisure Destination in the World”. Developed at an investment of HK$43 billion, the property covers 1.1 million-square-meter of unique entertainment and leisure attractions that are unlike anything else in Macau. Eight award-winning world-class luxury hotels provide close to 5,000 rooms, suites and villas. They include Banyan Tree Macau, Galaxy Hotel™, Hotel Okura Macau, JW Marriott Hotel Macau, The Ritz-Carlton, Macau, Broadway Hotel, Raffles at Galaxy Macau, Andaz Macau. Unique to Galaxy Macau, the 75,000-square-meter Grand Resort Deck features the world’s longest Skytop Adventure Rapids at 575-meters, the largest Skytop Wave Pool with waves up to 1.5-meters high and 150-meters pristine white sand beach. Two five-star spas from Banyan Tree Spa Macau and The Ritz- Carlton Spa, Macau help guests relax and rejuvenate.

As the dining destination in Asia, Galaxy Macau offers a wide variety of gastronomic delights, exquisite experiences and ingredients of the finest quality with over 120 dining options from Michelin dining to authentic delicacies.

Embark on a delightful and rewarding journey at Galaxy Promenade, the one-stop shopping destination boasting some of the world’s most iconic luxury brands. Be the first to get the latest limited-edition items; explore fascinating pop-ups by coveted labels and revel in fabulous shopping rewards and privileges. Our VIPs are entitled to a highly-curated experience with dedicated personal shoppers at guests’ service, and be invited to exclusive luxury brand events. A different caliber of privileges and rewards also await. Discover the joys of fashion and stand at the forefront of style and sophistication—Galaxy Promenade has everything guests need to stay ahead of the style game.

Galaxy Cinemas takes immersive movie experiences to the next level with the latest audio-visual technology, ultra-luxurious facilities and bespoke services; CHINA ROUGE, one-of-a-kind deluxe lounge that evokes the glitz and glamor of Shanghai’s golden era with entertainment in luxury and style; and Foot Hub presents the traditional art of reflexology to make you feel more relaxed and revitalized. For Authentic Macau Flavors & Vibrant Asian Experiences, Broadway Macau – just a 90-second walk via a bridge from Galaxy Macau, has over 35 Authentic Macau & Asian Flavors at its Broadway Food Street. The 2,500-seat Broadway Theatre plays host to world-class entertainers and a diverse array of cultural events.

Meeting, incentive and banquet groups are also well looked after with a portfolio of unique venues in Galaxy Macau and a professional service staff. Galaxy International Convention Center (GICC) is the latest addition to the Group’s ever-expanding integrated resort precinct and will usher in a new era for the MICE industry in Macau. GICC is a world- class event venue featuring 40,000-square-meter of total flexible MICE, and a 16,000-seat Galaxy Arena – the largest indoor arena in Macau.

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Saudia Group Concludes a Successful Hajj Season 1445H

Driven by the Synergy of Saudia Group’s Companies

Jeddah, Saudi Arabia – Newsfile Corp. – August 28, 2024 – Saudia Group has announced its remarkable contributions to the success of Hajj Season 1445H through its integrated ecosystem that includes aviation, cargo, logistics, catering, ground services, and maintenance. Saudia transported over 1 million pilgrims on more than 5 thousand flights spanning four continents and more than 100 destinations, accumulating 20 thousand flight hours. The Group’s low-cost carrier, flyadeal, contributed significantly by transporting more than 70 thousand pilgrims and operating 440 flights.

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The success of Saudia’s flights was attributed to its highly skilled crew, totaling 1.8 thousand Captains and First Officers, and 6.1 thousand cabin crew members, adhering to the highest industry standards. Across the 74-day Hajj operations, Saudia operated at full capacity, ensuring operational efficiency with its fleet of 144 aircraft, as well as 14 additional aircraft dedicated to Hajj flights. The pilgrims’ spiritual journey was enriched through a seamless digital booking, diverse meal options, prayer announcements, and informative inflight content.

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Saudia Cargo played a pivotal role, leveraging innovative cargo services and a modern fleet, capitalizing on the Kingdom’s strategic location to connect continents together and execute digital transformation plans. During the Hajj season, Saudia Cargo operated 717 flights, transporting 98.9 thousand tons across 44.6 thousand export air waybills.

Saudi Logistics Services (SAL), the primary cargo handler for various airlines at the Kingdom’s air terminals, provided essential logistics solutions and intermodal transport connections during the Hajj Season operations. SAL managed 3.4 million cargo shipments, totaling 76 million kg in weight, and operated 14.2 thousand flights, serving 59 airlines.

Saudi Ground Services (SGS), renowned for ground handling and airport solutions, contributed to the successful Hajj season, serving 12.7 thousand flights and 2.2 million guests, and managing 4.6 million pieces of luggage during arrival and departure.

CATRION, specialized in luxury hospitality and airline catering, served more than 7.7 million meals onboard.

Saudia Technic played a crucial role in ensuring operational excellence through aircraft maintenance, repair, and renovation services. Their operations spanned across 21 stations, with 22.6 thousand spare parts provided, 4.5 thousand maintenance hours logged, and 134 technicians deployed.

Amer Alkhushail, CEO of Saudia Hajj and Umrah, said: “We will continue advancing pilgrim services, evaluating feedback to enhance their spiritual experiences with cutting-edge digital technologies. We aim to provide the best solutions to facilitate procedures, making the Hajj journey smoother from start to finish. Additionally, we’re expanding our flight network to accommodate more pilgrims, supported by our comprehensive seat retrofit program.” He added, “As the current Hajj 1445H season concludes, we have immediately commenced the planning for the upcoming Hajj 1446H season.”

-The End-

About Saudia Group
Saudia Group is one of the largest aviation conglomerates in the MENA region. The Group drives industry development with its 12 strategic business units, and offers world-class air transport, cargo services, ground services, logistics, maintenance, catering, private aviation, real estate, training, and medical services.

The mission of Saudia Group is to inspire people to go beyond borders with a purpose that is rooted in unlocking human potential and connecting the world in ways never thought possible. The group is committed to reshaping the aviation ecosystem in the MENA region and beyond, by embracing innovation and a customer-centric approach.

Media Center
Saudi Arabian Airlines Headquarters
Jeddah 21231, Kingdom of Saudi Arabia
Email: mediacenter@saudia.com

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

Inflation Rate in Laos Sees Slight Dip in August

Inflation Rate in Laos Sees Slight Dip in August
This image is used only for representational purpose (photo credit: Global Visa Corp)

Laos experienced a slight dip in its inflation rate in August, which stood at 24.3 percent, down from July’s 26.1 percent. Despite the slower increase, inflation remains a big challenge, particularly in health care, housing, and food, as reported by Laos Statistic Bureau.

Bank of Laos Increases Interest Rates Amid Economic Challenges

Laos currency (Photo: Bitcoin.comNews)

The Bank of Laos (BOL) has announced a hike in interest rates to tackle rising inflation. After a recent Monetary Policy Committee meeting, the BOL decided to raise the interest rate on kip deposits from 10 percent to 10.5 percent and on foreign currency deposits from 10 percent to 11 percent.