30.5 C
Vientiane
Friday, May 30, 2025
spot_img
Home Blog Page 1671

Bangkok to Nong Khai High-Speed Train Aims for 2027 Launch Amid Construction Challenges

Bangkok to Nong Khai High-Speed Train Aims for 2027 Launch Amidst Construction Challenges
FILE: this image is used only for representational purpose (photo: National News Bureau of Thailand)

Despite facing a range of challenges that have hindered construction progress, Thai authorities are actively working to expedite the Northeastern high-speed rail project, aiming to link Bangkok to Nong Khai by 2027.

Real Estate Tycoon Srettha Thavisin Secures Votes to Become Thailand’s 30th Prime Minister

Real estate tycoon Srettha Thavisin secures votes to become Thailand’s 30th prime minister (Photo: AL JAZEERA)

BANGKOK (AP) — Srettha Thavisin from the populist Pheu Thai party secured enough votes in parliament to become the country’s 30th prime minister Tuesday.

Ex-prime Minister Thaksin Enters Prison in Thailand, as His Allies Attempt to Form Government

Ex-prime Minister Thaksin Enters Prison in Thailand, as His Allies Attempt to Form a Government
FILE: Ex-Prime Minister Thaksin Shinawatra has landed in Bangkok after years of self-imposed exile. (photo: AP)

BANGKOK (AP) — Thailand’s Parliament on Tuesday began voting in a second attempt to choose a prime minister, hours after ex-Prime Minister Thaksin Shinawatra returned to Thailand after years of self-imposed exile and entered the prison to begin serving an eight-year sentence.

Tongcheng Travel Posts Strong Earnings Growth in 1H2023 On Sustained Nationwide Travel Boom

Adjusted Net Profit Rises by 207% to RMB1,096 Million Average MPUs and APUs Reach All-time Highs

HONG KONG SAR – Media OutReach – 22 August 2023 – Tongcheng Travel Holdings Limited (“Tongcheng Travel” or the “Company”, together with its subsidiaries the “Group”, stock code: 0780.HK), an innovator and leader in China’s online travel industry, today announced its unaudited consolidated results for the six months ended 30 June 2023 (the “period under review” or “1H2023”).

1H2023 Highlights with Year-on-year Change

Robust Revenue and Earnings Grew to New Heights

· Revenue increased by 79.6% to RMB 5,452.4 million

· Adjusted EBITDA rose by 110.5% to RMB 1,538.0 million; adjusted EBITDA margin increased by 4.1 percentage points to 28.2%

· Adjusted net profit surged by 207.0% to RMB 1,096.0 million; adjusted net margin widened by 8.3 percentage points to 20.1%

Diversified Online and Offline User Acquisition Channels

· Average MAUs increased by 27.7% to 282.5 million

· Average MPUs rose by 44.6% to 41.8 million

· About 87% of registered users resided in non-first-tier cities in China

Cores Businesses Achieved Record High Revenues

· Transportation ticketing services rose by 75.8% to RMB 2,877.3 million. Domestic air ticket volume in Q2 2023 grew by 40% compared with the pre-pandemic level in Q2 2019

· Accommodation business grew by 73.9% to RMB 1,889.7 million. Domestic room nights sold grew by over 130% compared with the pre-pandemic level in Q2 2019

· Revenue from others* increased by 118.8% to RMB 685.5 million

* Others mainly include revenues from advertising services, hotel management services, corporate travel services, membership services and attraction ticketing services.

Note: MAU: monthly active users; MPU: monthly paying users; APU: annual paying users

Mr. Ma Heping, Executive Director and Chief Executive Officer of Tongcheng Travel, said, “2023 marks a new chapter for China’s travel industry. We are thrilled to see continued strength and accelerated quarter-on-quarter sequential growth in domestic demand alongside soaring travel enthusiasm. Remarkable increases were seen in our traffic with both MPUs and APUs reaching record levels, primarily attributable to our diversified online channels and effective user engagement. As non-tier-one cities have become increasingly popular travel destinations, our established leadership and deep penetration in these markets enable us to further harness rising opportunities through full-service offerings geared towards exceptional customer experience, thereby driving our long-term sustainable growth.”

Diversified Traffic Channels, Increased User Engagement

Tongcheng Travel further diversified traffic sources by exploring online and offline channels, especially in underpenetrated lower tier cities. Consistent efforts were made to better engage and serve users through the Tencent Ecosystem. During the period under review, it optimized Weixin Search functions and co-launched a WeChat Pay campaign in Hong Kong to interact with users in the region. It continued collaborating with Tencent games while incorporating e-sports and sponsoring popular music festivals with Tencent Music to boost exposure among younger audiences. These initiatives effectively drove user acquisition and engagement.

Transportation Ticketing and Accommodation Reservation Business Reached New Highs

Driven by volume growth, transportation ticketing revenues, which accounted for 52.8% of the total revenue, achieved record high results of RMB 2,877.3 million on a 75.8% increase during the period under review. Through consistent effort to build a more diverse user base to further penetrate the market, domestic air ticket volume in Q2 2023 increased by 40% compared to the same period in 2019. The accommodation business, which contributed 34.7% of the total revenue, continued to set new revenue and volume highs. Revenue from this business grew by 73.9% to RMB 1,889.7 million. The number of room nights sold in Q2 2023 increased by more than 130% compared to Q2 2019.

New Hotel Management Business to Diversify Revenue Streams

The Group took steps to diversify its business to bring in new growth impetus. It has further developed the hotel management business by expanding the hotel brand portfolio to include low- to high star-rated hotels. It has also tapped into the leisure travel market through acquisitions of travel agencies. Elong Hotel Technology Group set up by the Group had signed contracts with nearly 2,000 hotels and had 15 million members. In the first half of 2023, revenues from others, including advertising services, hotel management services, corporate travel services, membership services and attraction ticketing services, recorded a 118.8% growth to RMB 690 million.

Leveraged Technology Edge to Enable Smart Digitization of Travel Industry

Tongcheng Travel is committed to applying its technology edge to contribute to a highly efficient travel ecosystem. It uses AI-powered robots to provide more efficient customer service and worked closely with business partners to proactively explore the application of Artificial Intelligence Generated Content (AIGC) in its business operations. Moreover, it utilizes its technology edge and innovation capabilities to assist upstream suppliers to expedite smart digitalization of the China’s travel industry.

On top of that, it established cooperation with Chengdu Shuangliu International Airport to help the airport develop a transit system to attract transit passengers and established a strategic partnership with Henan Province Airport Group to help it develop combined transport solutions, integrated membership programs, and digitalization platforms. Furthermore, through its comprehensive hotel PMS brand matrix, the Company provided SaaS solutions to more individual and chain hotels as well as alternative accommodation to optimize their operational efficiencies.

ESG Efforts for Sustainable Development Won Recognition

Tongcheng Travel’s dedication to corporate sustainability has earned its inclusion for the first time in The Sustainability Yearbook (China) by S&P Global. In light of the full recovery of the travel industry, it initiated a training program on digital operation and marketing of rural tourism for tourism professionals from Sichuan province, to help stimulate and accelerate the growth of the rural economy. Moreover, it collaborated with over 200 hotels across China to offer college entrance examinees and their parents free stationery, water, and comfortable rest areas.

Mr. Ma added, “Going forward, we will continue to leverage our competitive advantages in terms of diversified traffic sources, solid market position, flexible operation strategy, and advanced technological capabilities. We will further enhance our products and services to provide more satisfying experience to our users. We will also seize market opportunities and look into international business potential. At the same time, we will explore investment opportunities that align with our strategies to support future business growth to generate long-term sustainable value for our stakeholders and communities.”

Hashtag: #TongchengTravel

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

About Tongcheng Travel Holdings Limited (HKSE Stock Code: 0780.HK)

Travel is a one-stop shop for users’ travel needs. With the mission “make travel easier and more joyful”, Tongcheng Travel offers a comprehensive and innovative selection of products and services covering nearly all aspects of travel, including transportation ticketing, accommodation reservation, tourist attraction ticketing, and products including package tour, self-guided tour and cruise, including a wide array of transportation and leisure travel scenarios primarily through its online platforms, which comprise its Tencent-based platforms, its proprietary mobile apps, quick apps and other channels.

As a technology-driven company, Tongcheng Travel leverages big data and AI capabilities to better understand the preferences and behaviors of users, thereby offering users customized products and services. Tongcheng Travel has a strategic focus on lower-tier cities in China and seized opportunities there supported by its diversified traffic sources, product innovation capability and flexible operation strategies. Through the in-depth understanding of user experience and advanced technological capabilities, Tongcheng Travel has been revolutionizing what consumers expect from the online travel industry, making the entire travel process more convenient, personalized and enjoyable than ever. Tongcheng Travel aims to develop and apply its advanced technology to transform from an online travel agency to intelligent travel assistant.

For more information, please visit the Group’s website at

Laos Faces a Growing E-Commerce “Scamdemic”

Laos Faces a Growing E-Commerce "Scamdemic"
Online scams are becoming more prevalent in Laos. (Photo: Freepik)

Lao netizens are now contending with a surge in scams perpetrated through social media platforms, giving rise to what’s being termed a “scamdemic.” This troubling trend involves victims paying in advance for products advertised online but never receiving them.

Arrow Electronics Empowers Startups with Design Engineering and Supply Chain Capabilities for Developing Robotics and AIoT Devices in the Greater Bay Area

SHENZHEN, CHINA – Media OutReach – 22 August 2023 – Global technology-solutions provider Arrow Electronics, Inc. hosted its annual “Arrow Technology Showcase” event today in Shenzhen, China.

33f016fe5de4beef3d74606e856a402.jpg

With the theme of “Guiding Technovators to a Better Tomorrow”, the event brought together hundreds of technology companies, manufacturers, solution providers, and tech startups[JH1] across the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in southern China. The event showcased over 100 components, systems, applications, and solutions, focused on robotics, AIoT (Artificial Intelligence of Things), and smart energy.

GBA, a megalopolis with a total population of over 86 million and an estimated GDP of around USD1.8 trillion in 20221, is home to one of the most vibrant and thriving communities of technology innovators and entrepreneurs in China. As tech startups and innovative companies strive to develop more practical and robust technology solutions to harness the potential of digitalization, decarbonization, and electrification, they often face increasing engineering and ever-complex supply chain challenges. As a global technology solutions provider, Arrow provides best-in-class engineering, supply chain expertise, and global ecosystem support to help enable these innovators and entrepreneurs in overcoming technological and supply chain challenges and bringing their creative and innovative ideas to market faster.

Empowering innovators in the GBA and beyond

Arrow established its first open lab at Hong Kong Science Park (HKSTP[JH2] ) in 2016. The lab has since served as a center of excellence for hundreds of local engineers and creators to solve engineering problems and accelerate the idea-to-prototype-to-production journey. To further support the broader GBA region, Arrow has launched a new open lab at Xbot Park in Dongguan, an industrial city in GBA.

“XbotPark is a global startup incubator focused on robotics and smart hardware, dedicated to offering the necessary mentorship, ecosystem support, funding access, and technology resources it takes for startups to grow and succeed. We are excited to collaborate with Arrow and gain their support of our high-potential tech start-ups, not just in Dongguan but also the broader GBA region. Arrow brings a wealth of technologies, from microelectronics and sensors to connectivity and edge platform, as well as design engineering expertise, and supply chain services. These resources and capabilities are essential for startups [JH3] and innovators to maximize their business potential,” said Zexiang Li, co-founder of XbotPark.

Nurturing robotics innovators

China’s robotics market is expected to be worth USD17.4 billion with an annual growth rate of 22 percent, according to the China Robotics Industry Development Report2. Industrial robots are valued at USD8.7 billion, service robots at USD6.5 billion, and specialized service robots at USD2.2 billion.

Direct Drive Tech, a Dongguan-based company specialising in the R&D and production of robot joint and motion solutions, showcased its latest wheeled-leg robots at Arrow’s showcase event. As a graduate of XbotPark incubation program, Direct Drive is committed to eliminating reduction gearboxes and creating direct drive precision power solutions worldwide. “With the support of global technology companies such as Arrow, we can gain access to ecosystem resources that allow us to reach a broader market and fully maximize our growth potential with our robot actuator and highly efficient power solutions,” said Jet Yin, global marketing director of Direct Drive Tech.

As part of the Arrow and HKSTP co-incubation training program launched since 2021, Arrow’s engineering team has offered free robotic and AIoT technology training to over 400 engineers enrolled in the program. Direct Drive’s wheeled-leg robot has been featured as one of the open platform tools in the robotic technology training program.[JH4]

HengZi Future, a developer of consumer-grade robotic products and a current incubatee of XbotPark incubation program, also showcased its latest consumer-grade pet robots at the event.

“As we continue to enhance our robotic product offerings and scale up our business, we look forward to gaining access to Arrow’s comprehensive portfolio of advanced electronic components, design engineering resources, and go-to-market support,” said Pei Heng Song, founder and CTO, Hengbot Innovation.

As the first electronics hardware lab established in XbotPark, Arrow’s open lab occupies a total space of 1,200 square meters with engineering equipment and testing modules and an open collaboration area. This enables local and international startups to design, develop and test their products and solutions effectively.

“Cross-disciplinary cooperation and technology integration are key to fostering continuous innovations and sustainable development in today’s highly competitive and rapidly evolving market landscape,” said Arthur Jiang, Arrow’s president for its Asia-Pacific components business. “Technology companies and startups constantly face challenges from competing research and product development needs and evolving demands for product features to a shifting supply chain landscape. By offering our global network of resources, industry insights, and in-market presence, we act as a trusted technology partner who can guide and help them take their ideas from imagination to innovation.”
——————————————————————

1 https://www.bayarea.gov.hk/en/about/overview.html#:~:text=The%20total%20area%20is%20around,RMB%2013%20trillion%20in%202022.

2 https://dsj.guizhou.gov.cn/xwzx/gnyw/202208/t20220823_76224575.html

Hashtag: #ArrowElectronics

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

About Arrow Electronics

Arrow Electronics guides innovation forward for over 210,000 leading technology manufacturers and service providers. With 2022 sales of $37 billion, Arrow develops technology solutions that help improve business and daily life.

Learn more at arrow.com/fiveyearsout

OMNI Tuna Wins Gold Award for Best Vegan Fish in Vegan Food & Living Awards

LONDON, UNITED KINGDOM – Media OutReach – 22 August 2023 – Food Tech company OmniFoods has endeavoured to bring healthy and sustainable products through innovation, OmniFoods is proud to announce that the OMNI Tuna has been awarded the Gold Award for Best Vegan Fish in the Vegan Food & Living Awards. This recognition further solidifies OMNI’s commitment to delivering innovative and delicious plant-based seafood alternatives.

omnituna pack shot w award icon (1).png

To celebrate this remarkable achievement, OMNI invites diners to indulge in the exquisite flavours of its award-winning OMNI Tuna at select locations. Starting from today, diners can visit Pastan in London, Manchester and Bristol to experience the exclusive OMNI Tuna Menu, featuring mouthwatering dishes such as OMNI Tuna Caesar Salad and OMNI Tuna Mac & Cheese. Each dish showcases the versatility and culinary possibilities of OMNI Tuna, providing a delightful dining experience for both vegans and seafood enthusiasts alike.

For those in the Cwmbran area, The Queen Inn presents an opportunity to savour the tantalising OMNI Tuna Menu, which includes the OMNI T*na & Sweetcorn Mayo Salad and the OMNI T*na Sweetcorn Mayo Wrap. These delectable creations highlight the incredible taste and quality of OMNI Tuna, delivering a satisfying plant-based alternative that leaves a lasting impression on diners.

For more information about OMNI Tuna and to explore the full range of OMNI products, please visit www.omnifoods.co.

Hashtag: #OMNI

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

About OmniFoods

OmniFoods, the food innovation arm under Green Monday Holdings, is a global leading plant-based food company. The OmniFoods’ brand ranges from OMNI Pork, Seafood, Beef & Chicken to OMNI Chef solutions like Appetisers & Entrees, with a goal to make food for all people and all cuisines. With R&D in Canada and distribution network in over 20 markets, OmniFoods’ products have received various international awards & accolades – OMNI Mince and OMNI Luncheon were awarded a One-star Great Taste Award in 2021, and OMNI Golden Fillet received the Silver Quality Award in the Monde Selection 2022 and voted as the best Vegan fish by PETA UK. OMNI Tuna received the Gold Award for ”Best Vegan Fish” in UK’s No.1 vegan magazine, Vegan Food & Living’s Product Awards 2023.

ADB to Finance USD 45 Million Package to Strengthen Health Care Services in Laos

The Asian Development Bank (ADB) has approved a USD 45 million financing package to help strengthen quality health care in 16 districts across 10 provinces in Laos.