Thailand has detected a possible case of mpox in a 66-year-old European man who arrived from an undisclosed African country on 14 August. Health officials are currently awaiting test results to confirm whether the patient is infected with the Clade 1b variant, which has recently raised global alarm for its increased transmissibility.
The man has been isolated in a hospital while further tests are conducted.
This case marks the first potential instance of the Clade 1 variant being detected in Thailand. Since 2022, Thailand has recorded 800 cases of the Clade 2 variant but has not previously encountered Clade 1 or Clade 1b.
The World Health Organization (WHO) has recently declared the mpox outbreak a public health emergency of international concern. However, the WHO has emphasized that while mpox is serious, it is not comparable to the scale of the COVID-19 pandemic. The virus, which causes fever, muscle aches, and distinctive boil-like skin lesions, has a well-established profile and control measures. However, it can be fatal in severe cases.
Mpox mainly spreads through direct contact with infected animals or people, consuming contaminated meat, or through sexual contact. It can also be transmitted from mother to fetus during pregnancy.
Clade 1b, a newer and more virulent strain, has been responsible for recent surges in cases across the Democratic Republic of the Congo, Burundi, Kenya, Rwanda, and Uganda since July.
The global health community is closely monitoring this development as efforts to manage and contain the outbreak continue.
Winner is TUX mobility, an innovative startup in solar-powered cargo vehicle
DHL Fast Forward Challenge: Sustainable Solutions Asia Pacific edition is the fourth edition in the series and was recently held in Singapore
Three innovators were shortlisted as finalists, who will work with DHL to provide expert support in implementing the technology in Asia Pacific
SINGAPORE – Media OutReach Newswire – 22 August 2024 – DHL has named TUX mobility the winner of its latest Fast Forward Challenge. Headquartered in the Netherlands and producing in India, TUX mobility is a developer of the world’s first solar-powered, light electric cargo vehicle that charges itself while driving. The latest edition of DHL Fast Forward Challenge: Sustainable Solutions was held recently in Singapore at the DHL Era of Sustainable Logistics Asia Pacific Chapter. The Challenge aims to identify the most promising innovator that provides viable, sustainable solutions that could enhance the logistics and supply chain industry. TUX mobility brings a sustainable and eco-friendly alternative for last-mile delivery targeting the Asian market.
DHL names new winner for latest Fast Forward Challenge: Sustainable Solutions APAC Edition
With the ongoing growth of e-commerce and on-demand delivery services, alternative options to traditional internal combustion engine vehicles are crucial to reducing carbon emissions for last-mile delivery. TUX mobility’s solution effectively meets this demand for electric and alternative low-carbon delivery vehicles.
TUX mobility pitting themselves against two other finalists at the Fast Forward Challenge
“A sustainable economy needs sustainable logistics. The latest Fast Forward Challenge aims to connect innovative startups offering viable, sustainable solutions for logistics and supply chains with DHL,” said Katja Busch, Chief Commercial Officer at DHL and Head of Customer Solutions & Innovation. “We saw many great ideas, such as those from the finalists: TUX mobility, Planet Protector and BANF. Planet Protector uses sheep wool to replace polystyrene for insulation. BANF is an Internet of Things start-up using tire sensors to reduce fuel consumption, increase tire lifespan, and enhance safety for vehicles. We look forward to working with all finalists, together with our customers and partners, to help scale and implement some of these solutions in Asia Pacific to materialize the environmental impact.”
The latest edition of the Fast Forward Challenge saw businesses, start-ups, and innovators worldwide submit their ideas and solutions to address sustainability challenges in logistics. Among the submissions received, 28% sought to make packaging and containers more sustainable, 22% wanted to improve the carbon footprint of transport services, and 15% aimed to tackle sustainability in the built environment. The rest pursued various topics such as creating new sustainable business models and circular economy practices.
TUX mobility’s victory in the Fast Forward Challenge allows them to start a joint pilot project with DHL in the Asia Pacific region. They will also receive expert support from the DHL innovation team to further develop and implement their solar-powered cargo vehicle on a larger scale.
“We are so happy to have won this Fast Forward Challenge. This gives us a lot of confidence to proceed on the path that we have chosen. Together with DHL, we will push solar mobility and aim to transform global logistics, decrease carbon emissions, and do more to reduce the impact of climate change,” Laurens Janssen, co-founder at TUX mobility B.V.
With innovation and sustainability deeply embedded in its culture, DHL has driven various initiatives like the Fast Forward Challenge and the DHL Era of Sustainable Logistics to focus on the development of sustainable logistics solutions. DHL believes in joining forces with different partners and providers to further foster collaboration, realize the concepts and accelerate the transition towards a lower carbon emissions logistics landscape. Hashtag: #DHL #Innovation #Sustainability #DHLFastForwardChallenge
The issuer is solely responsible for the content of this announcement.
DHL – The logistics company for the world
DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 395,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.
DHL is part of DHL Group. The Group generated revenues of more than 81.8 billion euros in 2023. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. DHL Group aims to achieve net-zero emissions logistics by 2050.
SHANGHAI, CHINA – Media OutReach Newswire – 22 August 2024 – The adoption of Artificial intelligence (AI) among Mainland Chinese companies has increased steadily over the past three years and is expected to surge in the next 12 months.
CPA Australia’s Business Technology Survey 2024
Nearly half of surveyed accounting and finance professionals in Mainland China expect their business will increase the use of AI in the next 12 months, more than double the number from the previous year (48 per cent vs 20 per cent), according to a new survey by one of the world’s largest professional accounting organisations, CPA Australia.
CPA Australia’s Business Technology Survey 2024 also showed that 44 per cent of respondents in Mainland China said their business increased investment in or upgraded technologies in the past 12 months. When asked about their plans in the next 12 months, 81 per cent expect to increase the use of technology, with increasing the use of AI (48 per cent) the top choice, followed by data analytics and visualisation software (43 per cent) and business intelligence software (37 per cent).
In the past 12 months, 72 per cent of respondents in Mainland China reported their businesses have applied AI, the third consecutive year of growth in AI adoption. In addition, 29 per cent said their businesses used AI all the time, up 10 per cent from last survey.
CPA Australia’s East and Central China Committee Deputy President Mr Collin Jin FCPA (Aust.) said: “Government’s supportive policies and the rapid maturity of technologies such as generative AI and large language model (LLM), created favorable conditions for Mainland Chinese businesses to embrace AI. By integrating AI, Mainland Chinese businesses are poised to improve their decision-making through better data analytics, streamline operations and improve efficiency by automating routine tasks, and reduce costs. Strategic investments into AI not only fortifies the competitive edge of the businesses but also elevates their contributions within the value chain, paving the way for innovative growth in the digital economy.
“Currently, the adoption of AI is still at a preliminary stage for many Mainland Chinese businesses. According to the survey, 72 per cent of respondents indicated that they adopted AI to a limited or moderate extent in their businesses. In the future, to further promote AI’s technology and integrate it with our real economy, companies should keep enhancing their data capabilities, from acquiring to utilizing it in different application scenarios. Only continuous investment in data will advance AI’s application, helping companies to transform towards a more intelligent and competitive business model.
Financial costs and low return on investment were identified as the top barrier to adopt technologies in businesses in Mainland China. Most respondents in other Asia-Pacific markets said their business experienced the same challenges.
Jin recommended: “Facing global economic uncertainties, investing into cutting-edge technologies such as generative AI and LLM has become more complex for companies. They should focus on their core business and apply a more comprehensive evaluation mechanism or ROI model to monitor and measure the actual impact of technology applications on operational performance. This will help them to better optimise their technology investments and upgrades.
“In addition, we also recommend the business to embed technology innovation and digital transformation within their globalisation plan to capitalise on global digital economy opportunities.”
However, the increasing adoption of digital technologies boosted concerns over security. The survey results show that cybersecurity is the most widely applied technology among Mainland Chinese businesses (91 per cent) in the past 12 months. Three quarters of respondents stated that their businesses used cybersecurity software all the time, and more than half (55 per cent) reported that their businesses increased the cybersecurity protections.
Such investments into cybersecurity brought positive results. In the past 12 months, nearly half (48 per cent) of the Mainland Chinese respondents believe that their businesses’ cybersecurity proficiency is above average. Further, 60 per cent of the respondents stated that their businesses did not lose any time or money due to a cybersecurity incident. As a result, 36 per cent of the respondents predict that their businesses will increase the use of cybersecurity software in the next 12 months.
CPA Australia’s South China Committee Deputy President Mr Tony Chan FCPA (Aust.) said: “Effective governance is key to harnessing the full potential of these transformative technologies while mitigating risks. As digital threats become more sophisticated, conventional cybersecurity and data security is not enough. It is critical for businesses to regularly review their existing cybersecurity tools and measures to ensure they are updated against threats from new technologies and vicious attacks.
“Nowadays, many regions such as the European Union, have formulated or plan to introduce regulations on AI governance. Those Mainland Chinese businesses planning to expand overseas, should consider taking steps to improve AI governance to meet such requirements. This may include developing clear policies and procedures to guide ethical development, deployment, application, and monitoring AI’s adoption across the organisation.
Further, the survey results show 39 per cent of respondents in Mainland China said that their business increased the number of employees with technology and data analytical skills in the past 12 months, 8 percentage points higher than last year. Further, 53 per cent said their business upskilled and/or reskilled existing employees to address the shortage of technology talent.
Chan said: “Building a future-ready workforce, proficient in the foundational logic of machine learning and artificial intelligence, is a key competitive advantage for businesses’ sustainable development in the medium to long term. Businesses should maintain their focus on cultivating an innovation-driven culture and providing comprehensive upskilling or reskilling training for employees at all levels.”
CPA Australia collected 1,060 responses from accounting and finance professionals in various industries across Asia Pacific including Mainland China, Malaysia, Vietnam, Australia from June to July 2024 for the Business Technology Survey, with 207 respondents from Mainland China. About one-third of Mainland Chinese respondents hold C-suite or other senior level positions.
The issuer is solely responsible for the content of this announcement.
About CPA Australia
CPA Australia is one of the largest professional accounting bodies in the world, with more than 172,000 members in over 100 countries and regions, including more than 22,500 members in Greater China. We have offices in Beijing, Shanghai, Guangzhou and Hong Kong. CPA Australia provides thought leadership on local, national, and international issues affecting the accounting profession and the public interest. We advocate for policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au
Seafood and processing equipment and service companies from 46 countries have confirmed their presence.
The Expo provides seafood professionals with a platform to discover new products and innovations, identify new opportunities and markets, keep up to date with market trends and build relationships with new suppliers and partners.
SINGAPORE – Media OutReach Newswire – 22 August 2024 – Seafood Expo Asia, organized by Diversified Communications, taking place 4-6 September at Sands Expo Convention Centre in Singapore, will feature the largest international representation of seafood and processing equipment exhibitors from 46 countries. New to this year’s Expo will be country participation from Azerbaijan, Brazil, Denmark, Morocco, New Caledonia, Qatar, Scotland, Sri Lanka and Venezuela and new regional/national pavilions from Japan, Morocco and Saudi Arabia. Other countries participating will include Australia, Canada, Chile, Ecuador, France, Germany, India, Netherlands, Norway, Mauritius, Papua New Guinea, Singapore, South Africa, South Korea, Taiwan, Vietnam and more.
The exhibit floor will feature seafood companies highlighting their latest seafood offerings and best practices in sustainability and aquaculture. Seafood companies represented at this year’s Expo include AquaChile, Arakou Fishery LTD., AquaPri A/S, Blumar Seafoods, Caleta Bay Mar SpA, Coast Seafood AS, Cultimer, Ferme Marine de Mahebourg Ltd, Geraldton Fishermen’s Co-op, Hofseth International AS, Marennes Oleron Oysters, I.D.I. Corporation, Loch Duart Salmon, Nordic Kingfish A/S, Seaborn A/S, Sjor AS, South African Farmed Abalone Export Council, The Pirates Co., Ltd., The Seafood Company Pte Ltd., Vinh Hoan Corporation, Zalmhuys Group and more.
Seafood professionals and decision-makers from industries including airlines, cruise lines, distributors, caterers, hotels, importers, processors, restaurants, supermarkets, wholesalers and more will attend the event searching for new suppliers, products and trends. High-volume buyers will participate in the business matchmaking program, designed to connect them with seafood exhibitors. Participating companies at this year’s Expo include Big C Supercenter Co., Ltd, Central Food Wholesales Ltd., CJ Freshway, EB Services Company Limited, Emart, ITM Alimentaire International, Japanese Consumers’ Co-operative Union, Royal Seafood International Trading Company Limited, SMSI/ Sysco, Trendcell Sdn Bhd (Jaya Grocer) and Yonghui Superstores and more.
Companies showcasing their aquaculture technologies, state-of-the-art processing equipment and service solutions will include Baader Asia PTE. LTD., D&D Electronics, Co., Ltd, GUNZE LIMITED, Jaw Feng Machinery Co., Ltd and more. FrostiX Co., Ltd. will demonstrate their freezing technology HybridICE, which focuses on cellular level freezing to enhance food quality and safety, and Alpha Aqua A/S will showcase their Recirculating Aquaculture Systems (RAS) technology.
“We are thrilled to participate in Seafood Expo Asia for the first time,” said Yasin Kasa, Chief Commercial Officer, Alpha Aqua A/S. “This event provides an excellent platform to showcase our innovative and sustainable Recirculating Aquaculture Systems (RAS) technology. We believe that our solutions will not only meet the growing demands for efficient aquaculture but also contribute to a more sustainable future for seafood production. We look forward to engaging with industry leaders and attendees to discuss how our cutting-edge technologies can shape the future of aquaculture.”
Special events on the exhibit floor will engage attendees in educational sessions and competitive activities. Day one and day two of the Expo will include the Young Chef Challenge, where culinary students and professional chefs under the age of 25 will compete in various onsite challenges for a panel of judges. Judges include Eric Neo, Executive Chef, Capella Singapore and President of Singapore Chefs’ Association and the Chairperson of the Asian Culinary Institute Panel of Chefs, Hirofumi Imamura, Chef/Owner, IMAMURA and Ken Loon Tan, Founder, Naked Finn and Co-Owner, Kelly Private Ltd.
Other onsite events will include the Oyster Challenge, a three-round competition where chefs will shuck oysters and creatively pair them with the best sauces, and the Seafood Excellence Asia awards competition, which will recognize the best new seafood products at the Expo.
Seafood industry professionals can learn more about Seafood Expo Asia, find information on the conference program and other special events and register to attend for free by visitingwww.seafoodexpo.com/asia.
Hashtag: #SEASIA24
The issuer is solely responsible for the content of this announcement.
About Seafood Expo Asia
Seafood Expo Asia is a trade event where buyers from across Asia and industry suppliers from around the world come together to network and conduct business in the lucrative Asian market. The event is produced by Diversified Communications and takes place annually in Asia. SeafoodSource is the exposition’s official media covering industry news year-round.
Diversified Communications is a leading international media company with a portfolio of face-to-face exhibitions and conferences, online communities and digital and print publications. As producers of these market-leading products Diversified Communications connects, educates and strengthens business communities in over 15 industries including: food and beverage, healthcare, natural and organic, business management and technology. The company’s global seafood portfolio of expositions and media includes Seafood Expo North America/Seafood Processing North America, Seafood Expo Global/Seafood Processing Global, Seafood Expo Asia and SeafoodSource.com. Established in 1949 and headquartered in Portland, Maine, USA with divisions and offices around the world, Diversified Communications remains a privately held, third generation, family-owned business. For more information, visit: www.divcom.com.
Collaborative Effort Set to Accelerate Growth and Expansion of Vietnamese Enterprises in Singapore
SINGAPORE – Media OutReach Newswire – 22 August 2024 – SUNRATE, an intelligent global payment and treasury management platform announced that it has entered into a partnership with Vietnam Chamber of Commerce (VietCham Singapore) to empower Vietnamese enterprises looking to scale and operate in Singapore.
As part of the partnership, members of VietCham Singapore can now tap into the resources and expertise of SUNRATE’s Singapore and Vietnam business development representatives to help them navigate the complex world of international business expansion. This includes the capabilities to make payments via SUNRATE’s business account to more than 190 countries and regions, transact in 130+ currencies and enjoy global collection services available in over 30 currencies, and collect funds in over 10 major international currencies as if they were local payments.
Li Tao, Head of Growth, SUNRATE said, “As the leading global B2B payment platform for Emerging Asia, we are always exploring opportunities for like-minded partners such as VietCham Singapore. Our cutting-edge products and high-touch customer-centric services will empower and provide significant value for VietCham members as they seek to set up and scale their operations in Singapore”.
Mr Max Nguyen, Director of Viet Nam of Vietnam Chamber of Commerce Singapore, said “Partnering with SUNRATE is a strategic move that enables VietCham Singapore to offer more value-added services to our members while enhancing the organization’s reputation and influence. This collaboration will contribute to the growth of Vietnamese businesses in Singapore, helping them operate more efficiently and expand into international markets”
Recently, SUNRATE also announced its official launch in Vietnam, as the company continues to strengthen its global footprint, especially in the Asia-Pacific region.
Hashtag: #SUNRATE #VietChamSingapore
The issuer is solely responsible for the content of this announcement.
About SUNRATE
SUNRATE is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE has been recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.
With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London, and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays, J.P. Morgan, and is the principal member of both Mastercard and Visa.
To learn more about SUNRATE, visit https://www.sunrate.com/
About Vietnam Chamber of Commerce Singapore
The Vietnam Chamber of Commerce in Singapore (https://vietcham.org.sg/), hereinafter referred to as “VietCham Singapore” was founded in 2013 with the primary objective of fostering a cohesive network for Vietnamese enterprises operating in Singapore.
Vietcham steadfastly committed to facilitating the success of their members. Should you be seeking to forge invaluable business affiliations, acquire comprehensive insights into the Singaporean market, enhance your professional acumen and sector-specific expertise, or avail of our diverse range of services, VietCham Singapore stands poised to assist.
VietCham acts as an effective bridge for individuals and organizations to promote commercial and trade relations between Vietnam and Singapore, bringing mutual benefits to both sides.
VILNIUS, LITUANIA – Media OutReach Newswire – 22 August 2024 – VILNIUS, Lithuania, — BingX, a leading cryptocurrency exchange, is excited to announce the launch of its groundbreaking BingX Pre-Market Trading feature. This innovative offering provides BingX users with early access to cryptocurrencies, enabling more effective price discovery and improving market liquidity. The Pre-Market Trading feature also sparks community trading interest, establishing BingX as a key platform for new asset launches once they go live. This strategic enhancement is poised to transform the cryptocurrency trading landscape, giving users the opportunity to access new digital assets before their official listing. With this new feature, BingX users’ investment could go beyond the Bitcoin, Ethereum, or other established coins. Initial offerings include Hamster Kombat (HMSTR) and Catizen (CATI), which are part of the growing Ecosystem of telegram coin, integrated with the popular Telegram messaging app.
Vivien Lin, Chief Product Officer of BingX, expressed her enthusiasm and emphasized the feature’s significance for the platform’s users. “This new feature represents a major milestone for BingX, providing our users with early access to new coins and the ability to secure advantageous positions before these coins are listed on the spot market. We are dedicated to continually innovating and delivering tools that empower our users to stay ahead in the dynamic cryptocurrency market.” said Lin.
Seizing Early Opportunities with Real Trading BingX Pre-Market Trading functions as an over-the-counter (OTC) platform, enabling genuine peer-to-peer transactions for newly listed coins. Users can purchase these coins at competitive prices, secure liquidity ahead of time, and finalize transactions at mutually agreed times. This feature allows both buyers and sellers to set their own prices and quantities, creating a flexible and user-centric trading environment.
To ensure transaction security, BingX freezes the necessary funds for both parties involved in the trade, providing financial assurance for every order and minimizing the chances of trade failures. Sellers also have the advantage of completing deliveries as soon as they obtain the coins, locking in profits without waiting for the delivery period to end. BingX’s introduction of the Pre-Market Trading feature underscores its ongoing commitment to security, reliability, and user empowerment, further cementing its reputation as a leader in the cryptocurrency trading industry.
Hashtag: #BingX
The issuer is solely responsible for the content of this announcement.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
Marking the Fourth Consecutive Year of Sustainable High-quality Growth Agile Channel Structure and Geographic Diversification Bolster Resilience Amid Industry Downturns
HONG KONG SAR – Media OutReach Newswire – 21 August 2024 – The first baijiu company listed on the Hong Kong Stock Exchange and the second Chinese sauce-aroma baijiu stock being publicly listed, ZJLD Group Inc. (“ZJLD”, the “Group” or the “Company”, SEHK stock code: 06979. HK), is pleased to announce its interim results for the six months ended June 30, 2024 (“FY2024 1H” or the “Period”).
The key financial and business highlights are as follows:
FY 2024 1H
(for the six months ended June 30, 2024)
(RMB’000)
FY 2023 1H
(for the six months ended June 30, 2023)
(RMB’000)
Increased by
Revenue
4,133,191
3,518,957
17.5%
Gross profit
2,428,682
2,037,148
19.2%
Gross profit margin
58.8%
57.9%
0.9 percentage points
Adjusted net profit (non-IFRS measure)
1,018,123
802,519
26.9%
Adjusted net profit margin (non-IFRS measure)
24.6%
22.8%
1.8 percentage points
The flagship brand, Zhen Jiu, stands as the main growth driver, its revenue increased by 17.2% from RMB2,305.9 million to RMB2,702.2 million during the Period. It contributed around 65.4% of the overall revenue during the Period, primarily driven by the growth of premium and above price range products, namely, the Zhen 15 Series, Zhen 30 Series, and deluxe package-free series.
The gross profit increase was primarily due to the Group’s further focus on increasing the revenue contribution of products in the premium and above price range while steadily improving the overall gross margin by strategically optimizing the sales of mid-range and below product portfolios with low gross margins, and gradually replacing third-party produced base liquor with in-house production, which has lower associated costs, thereby bolstering profitability.
As of May 2024, Zhen Jiu’s high-quality base liquor reserve reached 90,000 tons, and its production capacity surpassed 41,000 tons. This places Zhen Jiu among the top three Guizhou sauce-aroma baijiu companies, marking the brand’s entry into the “Mao-Xi-Zhen” era.
During the Period, the baijiu industry grappled with economic pressures and evolving consumption patterns, resulting in a sluggish market recovery. However, ZJLD has been earmarked for outperformance amid market headwinds through its strategic agility. Underpinned by its proactive implementation of Zhen Jiu’s dual-channel growth strategy, the Group vigorously expanded its emerging sales channels and high-end customer base. It continued to enhance the distribution network and strengthen the market competitiveness of its sales channels. Additionally, the Group invested in expanding its storage capacity for premium baijiu while optimizing the allocation of resources across production costs and marketing expenditures. The Group also elevated its tasting events and distillery tours, creating the iconic and high-end “State Banquet * Zhen” (國之珍宴) experience that seamlessly integrates baijiu with culinary offerings, thereby stimulating growth in baijiu consumption.
Elevating the Premium Proposition and Diversifying the Brand Portfolio for Sustained Growth
The Group has demonstrated resilience by focusing on its premium and above-price-range baijiu products, with the revenue generated from the premium and above-price-range baijiu offerings increased from RMB2,193.6 million to RMB2,772.2 million, with its percentage share in the overall revenue rising from 62.3% to 67.1%.
Since Q4 of 2023, Zhen Jiu has implemented a dual-channel growth strategy, recognizing the distinct characteristics of traditional and emerging channels. This approach involves tailoring product portfolios, pricing mechanisms, and channel networks to the specific needs of each channel, maximizing the effectiveness and efficiency of developing distributor groups. This strategy has yielded both short-term growth and the cultivation of high-potential distributor groups in emerging channels for long-term benefits. Complementing this, ZJLD’s expansion through its “6+8+N” geographic strategy, well-managed channel inventory levels, and products with higher margins compared to its peers have contributed to the Company’s resilient demand in many targeted provinces with rising consumption of sauce-aroma baijiu. The Group’s long-term growth will undoubtedly be backed by its multi-brand portfolio and sufficient production capacity.
Consumer-Centric Distribution Network Backed by Expanding Production Capacity and Elevating Brand Experience
ZJLD Group has continued to work on building a consumer-centric distribution network that operates on a flat structure with nationwide coverage. The empowerment of distributors and the equitable sharing of benefits throughout the distribution network have been the key drivers in promoting the Company’s sell-through and sell-out performance. Concurrently, ZJLD has progressively increased its overall production capacity to cater to market demand, gradually expanding existing facilities and constructing new ones to boost its base liquor production. The Group’s continued investment in brand promotion has also created a strong brand presence in the baijiu industry, resonating with its target consumers. The newly launched acclaimed event series “State Banquet * Zhen” (國之珍宴) has gained widespread attention and appreciation in the baijiu industry, playing a pivotal role in enhancing Zhen Jiu’s brand power and supporting its continued expansion into the high-end customer segments.
Mr. Wu Xiangdong, Founder and Chairman of ZJLD Group, commented, “Looking into the coming months before end of 2024, we are confident and well poised to strengthen our market position further. We will continue to step up to the plate by implementing a comprehensive strategy focusing on key initiatives covering brand, production capacity, distribution channels and talent development. Firstly, we will launch new products, upgrade some of our key product series, and boost the revenue contribution from baijiu products within the premium and above price ranges. Secondly, we will allocate resources to increase our base liquor reserve, ensuring a robust supply to meet the growing demand. Thirdly, we will improve the quality of our distributor base and optimize our distribution channel structure, further enhancing our go-to-market capabilities. Lastly, we will put forth concerted efforts to strengthen our brand power, leveraging our unique cultural heritage and innovative brand experiences to support our business expansion.”
In a notable endorsement, Morgan Stanley issued a research report on 14 August, highlighting ZJLD Group’s superior positioning compared to its peers in the face of industry destocking pressure and has initiated coverage on ZJLD with an “Overweight” rating, expressing confidence in the Company’s long-term growth prospects. This positive assessment from a respected financial institution underscores ZJLD’s ability to navigate the evolving market dynamics and solidifies its leadership position in the baijiu industry.
Hashtag: #ZJLDGroup
The issuer is solely responsible for the content of this announcement.
About ZJLD Group Inc.
Zhen Jiu was established in 1975 in Zunyi, Guizhou, China’s primary production area of sauce-aroma baijiu. In 1988, it was honored with the National Quality Award at the 5th National Wine Appreciation Conference. It is one of the “Three Representative Sauce Flavor Brands in Guizhou”, along with Moutai and Xijiu. In the same year, it was announced by the Protocol Department of the Ministry of Foreign Affairs, the Communication Department of the Ministry of Economy and Trade, and the Great Hall of the People Management Bureau to become one of the two sauce-aroma baijiu served at state banquets.
ZJLD Group Inc. is a leading baijiu group in China that is devoted to offering baijiu products, including sauce-aroma, mixed-aroma, and strong-aroma, with sauce-aroma being its core. In terms of revenue in 2023, the Company was the third-largest private baijiu company in China, according to Frost & Sullivan statistics. The Company operates four baijiu brands in China, including Zhen Jiu and Li Du, and two leading regional names, Xiangjiao and Kaikouxiao. ZJLD prides itself on inheriting the time-honored baijiu-brewing techniques and reinvigorating them to develop iconic products. It strives to create a wide variety of aromatic and mellow baijiu products to meet the diverse preferences of consumers, seize broader market opportunities, and promote traditional Chinese baijiu culture.
Revenue and Profit Attributable to Shareholders up 54% and 83% respectively
Proactive in Seeking Change and Capturing Growth Opportunities to Achieve Long-term Sustainable Development
(RMB’ million)
Six months ended 30 June
2024
2023
Change (%)
Revenue
168.8
109.3
+54%
Gross profit
85.8
56.6
+52%
Operating profit
56.7
33.9
+67%
Profit attributable to shareholders
56.1
30.7
+83%
Basic earnings per share (RMB)
0.028
0.017
+65%
HONG KONG SAR – Media OutReach Newswire – 21 August 2024 – A renowned ladies’ footwear brand group in China – Daphne International Holdings Limited (“Daphne” or the “Group”, stock code: 210), today announced its unaudited consolidated interim results for the six months ended 30 June 2024 (the “Period”).
In the first half of 2024, the Group has achieved substantial revenue and operating profit growth through the collective efforts, consistently beating the general market and demonstrating the Group’s effective strategies and ability to maintain sustained and healthy growth in operations. For the Period, the Group’s total revenue surged 54% year-on-year, amounting to approximately RMB168.8 million. Gross profit up by 52% to approximately RMB85.8 million. Operating profit rose 67% to approximately RMB56.7 million and profit attributable to shareholders significantly increased by 83% to approximately RMB56.1 million. Basic earnings per share was RMB0.028. Driven by this continued outperformance, the Group is poised to emerge as an even stronger industry leader with sharper competitive edge and greater operational efficiency, positioning it for sustainable growth.
Commenting on the interim results, Mr. Chang Chih-Chiao, Daphne‘s Chief Executive Officer, said, “Recognising the highly competitive women’s footwear market in the first half of 2024, the Group steadfastly reinforced its core brand, ‘DAPHNE’, created the youthful brand ‘DAPHNE.LAB’ and enhanced its operational efficiency. Undaunted by the sluggish consumer market recovery, the Group allocated resources in bolstering the brand’s industry-leading position, while integrating the management team to optimise operations. Complementing its seasoned management team, the Group introduced young talents to bring fresh perspectives and innovative ideas, enabling it to persistently fine-tune its operating model. The Group worked cohesively to optimise the brand licensing business, streamline the supply chain system, and strengthen the management of franchisees. By staying attuned to the market dynamics, the Group prudently but nimbly adapted its development plans for the online licensing network and physical retail network operated by franchisees. These ongoing efforts, coupled with the Group’s long-term brand-building efforts and high-quality products, enabled it to overcome market challenges and achieved impressive growth.”
Brand Licensing and Distribution Business
In the first half of 2024, the Group’s unwavering strategic focus enabled it to maintain a robust and resilient growth. Given the proven track record of the online licensing business as a growth driver, the Group consistently amplified its investments and initiatives in this segment, further leveraging on its long-established reputation and valuable brand resources. The Group further bolstered its footprint on interest-based e-commerce platforms by forging more collaboration with leading and popular platforms, such as “Douyin” (抖音) and “Pinduoduo” (拼多多). As interest-based e-commerce platforms prioritise enhancing user experience and reinforcing their pricing and service advantages, the Group saw sustained robust growth in sales and market penetration across these platforms.
Furthermore, the Group continued exploring more social media-based emerging sales channels, such as “RED” (小紅書) and “POIZON” (得物), to engage with the younger demographic and amplify its brand’s reach. Coupled with the consumer-friendly pricing of its footwear products, the Group doubled down on its digital marketing efforts, thereby fostering deeper interactions with its target audience and consolidating a strong brand presence across various high-traffic online platforms. These strategic initiatives once again demonstrated their efficacy, fuelling its online licensing business to achieve sales growth that outshines the industry average. Meanwhile, the Group was mindful of the ongoing consumer confidence challenges and strategically adjusted its online licensing and offline distribution networks to streamline store operations and improve profitability, while adapting to the evolving macroeconomic environment and retail market landscape. For the period under review, the Group’s online licensing fee income grew 49% year-on-year to approximately RMB68.6 million, underscoring its strong ability to seize the evolving e-commerce landscape. The wholesales of goods under licensing arrangement also grew 46% year-on-year to approximately RMB91.5 million.
Retail Business
As a key strategy to differentiate the Group from other women’s footwear market players, the Group has remained true to its innovative spirit. Since the debut of original collections and the “DAPHNE.LAB” brand last year, the Group’s innovative endeavours have met with encouraging receptivity and demand in the market. Empowered by this success, the Group steadfastly upheld the pace of development last year, further exploring the path to originality. In the first half of 2024, the Group cautiously invested resources to further strengthen its product competitiveness and raise brand recognition. It introduced two creative themes, namely “Protagonist” (主角) in this spring and “Day Off” (離線) in this summer to captivate the new generation of consumers who favours self-expression. Both creative themes are staying true to the bold and innovative concept of “DAPHNE.LAB”. The positive market response of both collections has further reinforced the Group’s strategic direction. In addition, embracing the power of influencer marketing, the Group continued to collaborate with social media influencers, to amplify the reach of “DAPHNE.LAB” brand ethos and products to new generation consumers. Driven by the outstanding market reception, the Group launched a series of pop-up events during the reporting period.
During the reporting period, the Group once again joined creative forces with artists to launch the co-branded “Quirky Romantic Collection” (浪漫怪咖聯名系列). Integrating the artists’ imaginative spirit with “DARE TO BE 就敢” ethos of “DAPHNE.LAB”, the collection incorporates whimsical plastic flower motifs into stylishly unconventional footwear products, showcasing the bold “DARE TO BE DIFFERENT 就敢不同” attitude. This collaboration encourages women to explore an unconventional world full of imagination and has been warmly embraced by consumers. The Group’s string of successful collaborations has demonstrated the effectiveness of its strategy to partner with artists and create products that resonate with consumers.
The Group also regularly reviewed its supply chain system and actively improved the product development process to increase operational efficiency. In response to the accelerated online sales, the Group implemented rigorous quality control across the supply chain, refining its well-established system to deliver superb products. Leveraging on a robust supply chain infrastructure, the Group remained focused on enhancing product competitiveness, refreshing its brand image, and elevating brand awareness, strengthening the Group’s foundation to sustain sales growth despite lacklustre consumption.
Prospects
Despite persisting headwinds in Mainland China, a raft of measures announced by the Chinese government earlier this year to expand domestic demand are expected to be gradually implemented in the second half of the year, which could help spur accelerated growth in consumption. While the Group is optimistic about the long-term development of China’s consumer market, it maintains a conservative, “wait-and-see” stance towards the national economic development in the second half in light of the rising trend of rational consumption.
Looking ahead to the second half of 2024, Mr. Chang Chih-Chiao, Chief Executive Officer, said, “In order to better navigate upcoming challenges and capture growth opportunities, Daphne will intensify efforts to optimise its offerings, supply chain management, licensing and franchising models and brand management. Recognising the ‘DAPHNE’ and ‘DAPHNE.LAB’ brands as the Group’s greatest assets to achieve sustainable growth, the Group will strategically invest resources in building the brands apropos to the market situation. ‘DAPHNE’ will launch new products, introduce a new brand ambassador, unveil a new store concept complemented by a new logo designed to better represent the brand’s free-style image. Meanwhile, the Group will forge ahead with ‘DAPHNE.LAB’s collaborative endeavours in a bid to attract more young, affluent consumers base. Furthermore, capitalising on the burgeoning e-commerce market powered by tech-savvy consumers, the Group will allocate greater resources to expand its online reach. Although the consumer market remains a wild card, the Group is positive that it will continue to outshine its peers leveraging on years of expertise, brand equity, and proven strategies to provide high-quality products to consumers and create ideal returns for investors.”
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About Daphne
Daphne is a renowned ladies’ footwear brand group in China which primarily engaged in the brand licensing, distribution and sale of footwear products and accessories in Mainland China. The Group’s core own-brand, “Daphne”, is now a leading ladies’ footwear brand in Mainland China. The Group is dedicated to promoting the licensing and distribution of footwear products under the “DAPHNE” brand, including women’s dress shoes and casual shoes, across online and offline channels. In 2023, the Group successfully launched a new brand “DAPHNE.LAB” and its original collections, garnering favorable market response.