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AsiaInfo Technologies expects to achieve a performance rebound in 2H 2024, full year profit exceeding last year

Actively consider maintaining the amount of final dividend per share at a relatively stable level as compared to the previous year


HONG KONG SAR – Media OutReach Newswire – 15 August 2024 AsiaInfo Technologies Limited (“AsiaInfo Technologies” or the “Company”, which together with its subsidiaries, is referred to as the “Group”; HKEX stock code: 01675), is pleased to announce its interim results for the six months ended 30 June 2024 (the “Period”).

In the first half of 2024, the Company faced serious challenges, the external business environment continued to show complexity and uncertainty, and the investment budgets of corporate customers across industries generally showed a tightening trend. In particular, the slowdown in the growth rate of the telecommunications industry, investment cycle staying at trough and the sudden increase in the effort on cost reduction by telecom operators resulted in marked pressure on the Company’s order prices, increased difficulty in business negotiation, and significant delays of orders, which created a relatively considerable impact on the Company’s BSS and other traditional businesses, leading to significant pressure on the interim results. The operating revenue amounted to RMB2,994 million, representing a year-on-year decrease of 8.8%, of which the revenue from BSS and other traditional businesses amounted to RMB1,794 million, representing a year-on-year decrease of 18.1%. The Three New Business[1] maintained a double-digit growth, with revenue amounted to RMB1,200 million, representing a year-on-year increase of 10.0%. As a result of a relatively large decline in operating revenue, there was a net loss of RMB70 million during the Period.

In terms of new business, the Company attached greater importance to the high-quality development of the business and strengthened risk control in the process, resulting in a slower pace of business development and revenue growth. Similarly, due to various factors such as slowdown of the growth in the telecommunications industry, being in the trough of the industry investment cycle and steep increase in cost compression by telecom operators, revenue from the OSS business experienced a slight year-on-year decline of 1.6% to RMB280 million in the first half of the year. Revenue from the digital intelligence-driven operation business steadily improved and registered revenue of RMB447 million, representing a slight year-on-year decrease of 1.9%. Meanwhile, the Company continued to progress in the vertical industries digitialisation market and enhanced the expansion efforts in key areas such as energy, transportation and government affairs, maintaining a relatively fast growth and achieving a year-on-year increase of 34.6% in revenue to RMB473 million.

The Board attaches great importance to shareholders’ interests and return and guided the final dividend payout ratio for 2024 to maintain at 40% of the profit for the year attributable to the equity holders of the Company, while actively consider maintaining the amount of the final dividend per share at a relatively stable level as compared to that of last year.

It is expected that the Company will achieve a performance rebound in the second half of the year, with full effort to achieve better full year profit than last year. The Company will accelerate the process of business negotiation of BSS orders to mitigate the impact of order prices pressure and signing delays. At the same time, the Company will seize technological upgrade opportunities brought by “AI+” and “LLM+”, etc., actively participate in joint R&D with customers, and ensure the leading position of the BSS business in the telecommunications industry. It is expected that the rate of decline in BSS business revenue will be notably narrowed for the full year.

In terms of the Three New Business, the full year revenue is expected to maintain decent growth. The Company will accelerate the promotion and replication of digital intelligence-driven operation business, expand the scale of result-based and commission-based models, and strengthen collaboration with telecom operators in government and corporate business, and international business expansion to strive for a larger share of these cooperation opportunities and expand revenue scale. Additionally, the Company will continue to deepen its efforts in key industries such as energy, transportation, and government affairs, achieving continuous high-quality growth in non-telecommunications market businesses. While promoting revenue trend improvement, the Company will further step up cost control efforts in the second half of the year by rigorously controlling staff scale, strengthening process management of labour costs linked to performance, and reasonably allocate resources. The Company will expand centralised procurement and one-stop business expense platforms to effectively control daily costs and expenditures, striving to achieve full year profit exceeding that of last year.

The Company considers that telecommunications industry remains a high-quality industry. As long as we continue to build on our technological leadership, seize new technology upgrade opportunities brought by “AI+” and “LLM+”, and actively participate in joint R&D with telecom operators, we can maintain our leading position in the traditional business and seize the high-quality development on the Three New Business, seeking growth through challenges. Meanwhile, the Company will actively apply new technologies like AI to improve the automatisation level of R&D and delivery process, enhance production efficiency, reduce costs, and boost efficiency. The Company believes after a short- hit on results, the fundamentals for the Company’s long-term development remain solid, and its revenue and profit will maintain a stable and healthy momentum.


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

Hashtag: #AsiaInfoTechnologies

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

Hong Kong-Laos: A New Era of Education Collaboration


HONG KONG SAR – Media OutReach Newswire – 14 August 2024 – A high-level delegation from Laos joined the inaugural Youth Development Summit in Hong Kong (August 10), less than two weeks after John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), visited Laos and spoke to students at a secondary school in the capital Vientiane. These exchanges indicate the strengthening of academic ties between Hong Kong and Laos.

Kingmano Phommahaxay, Deputy Minister of Education and Sports and the Vice President of Lao National Olympic Committee, Lao People’s Democratic Republic, speaks at the Youth Development Summit in Hong Kong on August 10.
Kingmano Phommahaxay, Deputy Minister of Education and Sports and the Vice President of Lao National Olympic Committee, Lao People’s Democratic Republic, speaks at the Youth Development Summit in Hong Kong on August 10.

Speaking at the Summit, Kingmano Phommahaxay, Deputy Minister of Education and Sports and the Vice President of Lao National Olympic Committee, Lao People’s Democratic Republic (PDR), said “I am pleased to highlight a significant milestone in our educational cooperation with Hong Kong, specifically the partnership between Vientiane Secondary School (VSS) and the Hong Kong Polytechnic University (PolyU).” VSS and PolyU exchanged a Memorandum of Understanding establishing a framework for collaboration in international student recruitment through the provision of scholarships opportunity to outstanding Lao students.

John Lee, Chief Executive of the HKSAR (first left) and Saleumxay Kommasith, Lao Deputy Prime Minister and Minister of Foreign Affairs (first right), witness the signing of MoU between PolyU and VSS on July 29.
John Lee, Chief Executive of the HKSAR (first left) and Saleumxay Kommasith, Lao Deputy Prime Minister and Minister of Foreign Affairs (first right), witness the signing of MoU between PolyU and VSS on July 29.

During his visit to Vientiane Secondary School, Mr Lee said, “I can assure you that Hong Kong is a city full of opportunities of every kind, for your careers and for your life.”

Mr Lee informed students that Hong Kong is the only Asian city with as many as five universities among the top 100 in the world.

“To welcome more outstanding talent from Laos, we have already relaxed the visa policy for Laotian talent to work in Hong Kong, or study in our publicly funded universities,” Mr Lee said. “And once you’ve graduated from a Hong Kong university, you are eligible to stay in Hong Kong, work in Hong Kong, or simply enjoy life in Hong Kong, for up to 24 months, under our Immigration Arrangement for Non-local Graduates.”

Mr Phommahaxay added that the scholarship scheme and the signing of the MoU represents “a significant step towards fostering educational excellence and mutual development of our youth who will undoubtedly play an important role in promoting people to people exchange between the Lao PDR and Hong Kong”.

Hashtag: #hongkong #brandhongkong #asiasworldcity #ASEAN #Laos #PolyU #collaboration #business #education #exchange #youthdevelopment





Wechat: 香港 亚洲国际都会

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

Thai Constitutional Court Rules Srettha Thavisin’s Ministerial Status Invalid Over Ethical Reasons

Thai Constitutional Court Rules Srettha Thavisin’s Ministerial Status Invalid Over Ethical Reasons
Srettha Thavisin, the former prime minister of Thailand (photo credit: Thai PBS)

The Thai Constitutional Court has ruled out Srettha Thavisin as the Thai Prime Minister. 

Unburdened by the Past: VinFast and the Emergence of Pure-Play EVs

The automotive industry is rapidly evolving, and pure-play EV companies are at the forefront of this change, championing a sustainable future. Unlike traditional automakers who may turn to hybrid models, these companies are fully committed to electric vehicles, driving the industry towards a greener tomorrow.


HANOI, VIETNAM – Media OutReach Newswire 14 August 2024 – The automotive industry is undergoing a transformative shift towards electric vehicles (EVs), disrupting the traditional dominance of internal combustion engines (ICE). While established car manufacturers grapple with the costly transition from ICE to EV, pure-play EV companies are emerging as agile and innovative players in the market.

VinFast EV manufacturing complex in Hai Phong, Vietnam
VinFast EV manufacturing complex in Hai Phong, Vietnam

Unburdened by legacy technologies and ICE supply chains, these companies are laser-focused on EV development, embracing cutting-edge technologies and sustainable practices. This is a global phenomenon, evident in the emergence of EV companies in the Middle East, such as Ceer and NWTN. However, one notable example stands out for its rapid growth and ambition: VinFast.

VinFast, the car-making arm of Vietnam’s largest private conglomerate, Vingroup, has made remarkable strides in the EV market in less than five years since its founding. The company transitioned to become a fully electric vehicle manufacturer in 2021, delivering its first self-developed EVs to Vietnamese customers in December of that year. And thanks to Vingroup’s expertise and resources, VinFast was able to construct a modern car factory in record time, a feat that usually takes traditional automakers years to accomplish. This rapid progress is a testament to VinFast’s agility and ambition, earning it recognition on TIME’s list of 100 most influential companies in 2024.

VinFast’s ambitions extend beyond its home market. The company has expanded its footprint globally, establishing a presence in the Middle East through partnerships with distributors and previously in other key markets like Southeast Asia, India, and the US. This global expansion demonstrates VinFast’s commitment to making electric mobility accessible to a wider audience.

All-In on EVs

In its April report, the International Energy Agency notes that EV companies’ stocks have outperformed general stock markets and traditional carmakers since 2019. This highlights the growing potential of this sector and the long-term growth prospects of pure-play EV companies like VinFast.

However, the transition to electric vehicles is not without challenges. Competition in the EV market is intensifying, and pure-play companies need to scale up their production and build strong brand recognition to remain competitive. The EV industry as a whole faces infrastructure limitations, such as the availability of charging stations, and needs to address consumer pain points like charging times and range anxiety.

But it’s only in this difficult backdrop that we are able to see one notable advantage of pure-play EV makers: Their unwavering commitment to going green. This obligation to adapt and innovate differentiates them from traditional automakers who might hesitate or hedge their bets by turning to half-measures like hybrids.

In VinFast’s case, their desire to go green is baked into its DNA through the unwavering commitment of its founder and also chairman of Vingroup, Pham Nhat Vuong, Vietnam’s richest man. Vingroup, its affiliates, and external lenders have provided VinFast with over $12.9 billion to fund operating expenses and capital expenditure between 2017 and March of this year. Vuong himself recently pledged another $1 billion to the company’s success.

Dedicated EV manufacturers are all-in on electric vehicles, not backing down from challenges. As the EV market matures and technology advances, pure-play companies are expected to play a crucial role in shaping the future of mobility.

Hashtag: #VinFast #EV

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

Singapore Sports Hub Clinches ‘Unsung Hero’ title on the Global Stage


  • Singapore National Stadium Venue Operations Team wins the ‘Unsung Hero’ Award at TheStadiumBusiness Awards 2024.
  • It bested six international contenders and stands as the only venue in Asia to receive an award.


SINGAPORE – Media OutReach Newswire – 14 August 2024 – The Singapore Sports Hub Venue Operations Team flew the Singapore flag high internationally by winning in the ‘Unsung Hero’ category at TheStadiumBusiness Awards 2024 for the Singapore National Stadium. The ‘Unsung Hero’ award recognises an individual or team that delivers consistently outstanding service, commitment and results at a stadium, arena or major sports and entertainment venue. The Venue Operations Team’s patron-first philosophy and seamless synergy led to their win over six other nominees including operational team members from Arsenal FC, Miami Heat, The Trusts Arena, Croke Park, Scarlets Rugby and Newcastle United FC.

Singapore Sports Hub Venue Operations Team
Singapore Sports Hub Venue Operations Team

TheStadiumBusiness Awards is a globally recognised award that celebrates excellence in the stadium industry. Singapore National Stadium was the only Asian venue to receive an award this year, underlining the venue’s exceptional global standing when it comes to delivering the best experience for sporting, entertainment, and lifestyle events. Singapore National Stadium is the centrepiece of the Singapore Sports Hub, a fully integrated sports, entertainment and lifestyle destination which sits on 35 hectares of land in the heart of Singapore.

A Winning Strategy

The team’s success is attributed to their strategic planning and execution, which ensured immaculate event delivery for high-profile acts such as Mayday, Coldplay, Taylor Swift, Ed Sheeran, and Bruno Mars, and international sporting events such as FIFA WORLD CUP 2026™ – PRELIMINARY (ROUND 2) matches and HSBC SVNS SGP 2024. Their cohesive teamwork and commitment to patron-focused initiatives set the team up for success. Some examples of the team going the extra mile to elevate the patron’s experience at the Singapore Sports Hub include:

  • Deploying DJs to spin music pre and post events. This adds to the vibrancy of Sports Hub’s spaces but more importantly, aids with crowd management across its venues and flow into the train stations as patrons are encouraged to travel by public transport.
  • Dedicated priority access points for patrons who require assistance such as wheelchair users, pregnant patrons and senior citizens.
  • Strategically placing digital and printed signage across Sports Hub to assist patrons with wayfinding and to communicate important messages in real-time.
  • Tailoring amenities to suit audience demographics for example, conversion of some male toilets to female ones for the Taylor Swift | The Eras Tour concert given that the concert attendees are largely females. This move helped reduce waiting time for patrons.
  • Transforming Sports Hub precinct into a huge fan zone with event-themed activities curated for the community such as friendship bracelet-making stations, face painting stations and human foosball. To top it all off, these fan zones included food trucks that served up delectable treats for patrons pre and post events.
  • Safely accommodating thousands of patrons without event tickets but had gathered at the Sports Hub to soak in the atmosphere.
  • Providing exceptional customer service for patrons for example when a patron misplaced her passport, the team combed through trash bins by hand to help recover it.

Since the beginning of the year, the Singapore Sports Hub has welcomed more than one million visitors across numerous sport, entertainment, lifestyle and community events.

Quek Swee Kuan, Chief Executive Officer, Kallang Alive Sport Management said, “We are honoured to have such a dedicated team driven by a shared purpose to make Singapore Sports Hub an icon of national pride. This recognition as the ‘Unsung Hero’ at TheStadiumBusiness Awards 2024 is a testament to our unwavering commitment to delivering world-class experiences for all patrons across sport, entertainment, lifestyle and community events. To deliver on our commitment to uphold the highest service standards, we foster a culture of empowerment and encourage continuous learning. Our strong partnership with private and public stakeholders is also an integral part of our success. We will continue to innovate, serving as a catalyst for people from all walks of life to create wonderful memories at the Singapore Sports Hub.”

The Sports Hub continues to welcome a diverse array of sport, entertainment and lifestyle events following an exciting start to 2024. Highlights in the second half of the year include the first Indian concert at the National Stadium by AR Rahman, K-pop sensations Tomorrow X Together, Zerobaseone and Stray Kids, leading canto- and mando-pop artistes, Yoga Lin, Andy Lau, Jay Chou, and fan favourites from Conan Gray to Lany, Olivia Rodrigo, and Dua Lipa. In sport, dancers will mesmerise audiences at dance showcase competition Super24, while cycling enthusiasts will unite at cycling lifestyle festival Pedalfest Singapore 2024. Sports fans can look forward to thrilling netball action at Mirxes Nations Cup 2024, and cheer on continental basketball champions at the FIBA Intercontinental Cup 2024.

Past winners of TheStadiumBusiness Awards include renowned venues such as Wembley Stadium and Melbourne Cricket Ground, making this achievement a significant milestone for Singapore National Stadium.

All media assets can be found here.
Hashtag: #SingaporeSportsHub






TikTok:

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

ABOUT SINGAPORE SPORTS HUB

Singapore Sports Hub is an iconic, premier destination offering sporting, entertainment and lifestyle experiences for all to enjoy. This world-class development is managed by Kallang Alive Sport Management Co Pte Ltd (KASM). It offers programming that comprises international recreational and competitive events, live entertainment as well as activities that cater to the broader community. The Singapore Sports Hub aims to serve the sporting and entertainment needs of people from all walks of life.

Home to unique world-class sports facilities within the city, the Singapore Sports Hub plays a critical role in accelerating the development of Singapore’s sports industry, excellence and participation. Located on a 35-hectare site in Kallang, the Singapore Sports Hub includes the following facilities:

  • A 55,000-capacity National Stadium with a retractable roof and movable tiered seating
  • A 12,000-capacity Singapore Indoor Stadium with pillarless interior
  • A 6,000-capacity OCBC Aquatic Centre that meets FINA standards
  • A 3,000-capacity OCBC Arena which is scalable and flexible in layout
  • Kallang Tennis Hub, Singapore’s first international tournament-ready indoor tennis facility
  • Kallang Football Hub housing Singapore’s National Training Centre for football
  • Water Sports Centre featuring kayaking and canoeing
  • 41,000 sqm Kallang Wave Mall, including indoor climbing wall and Splash-N-Surf facility (Kids Waterpark, Stingray and Lazy River)
  • 100PLUS Promenade that encircles the National Stadium
  • Singapore Youth Olympic Museum & Singapore Sports Museum
  • Shimano Cycling World
  • Daily community facilities and activities, including beach volleyball, hard courts (futsal, basketball and netball) lawn bowls, giant chess, skate park and running & cycling paths.

Get Ready to Drive: Laos Launches New ‘DoT Smart’ App

Poster to promote the application (Photo: PWT)

To enhance road safety and streamline driver’s license preparation, the Lao government has unveiled the DoT Smart App, an innovative mobile application designed to transform the driving test process across the country.

Rhenus Group Appoints Gilles Delarue as New Chief Financial Officer and Member of the Management Board


SINGAPORE – Media OutReach Newswire – 14 August 2024 – The Supervisory Board of the Rhenus Group has appointed Gilles Delarue as the new Chief Financial Officer (CFO) and member of the Management Board, effective 1 September 2024. Delarue, currently serving as Head of Group Shareholdings International and Group Compliance Officer, brings extensive leadership experience within the Rhenus Group. He succeeds Egbert Bernsmeister, who is moving to sister company SARIA as Chief Financial Officer under the umbrella of the RETHMANN Group.

With over 15 years of leadership experience at Rhenus Group, a globally leading logistics service provider, Gilles Delarue brings a wealth of expertise to his new role as Chief Financial Officer. He also has an extensive management background from his tenure at SARIA, where he has held key positions since 1998. He will succeed Egbert Bernsmeister, who was in charge as CFO and Management Board member of Rhenus Group for more than 13 years and will now transition to acting CFO at SARIA. In addition to his new CFO function at SARIA, he will also leverage his experience in other key areas of the RETHMANN Group, for example as a future member of the Supervisory Board of Transdev. The two executives are working closely to ensure a seamless handover. “We are delighted to welcome Gilles Delarue, a highly experienced leader with over 15 years of background within Rhenus Group, as our new CFO and member of the Group Management Board. His international experience and deep understanding of our company’s DNA, strategic growth goals, and challenges make him uniquely qualified. At the same time, on behalf of the entire Rhenus Group, I would like to thank our long-standing Chief Financial Officer, Egbert Bernsmeister, for his significant contributions to Rhenus profitable growth. His dedication has been a driving force behind our transformation from a European-focused company to the global logistics leader we are today”, said Dr. Marco Schröter, Chairman of the Supervisory Board of Rhenus Group.

In his new role, Gilles Delarue will oversee the Rhenus Group’s finance division, which includes M&A, Finance, Controlling, Corporate Development, Legal, Compliance, and Insurance. Drawing on his extensive experience in financial management, the new CFO will ensure the Rhenus Group maintains financial stability and sustainability. “For almost two decades, I have known Gilles to be a passionate leader and outstanding financial advisor. He will be an excellent addition to our management board and successfully translate our growth strategy into consistent financial plans,” said Tobias Bartz, CEO and Chairman of the Rhenus Group. “Gilles understands and lives our Rhenus DNA and values, which makes him ideally suited for his new role as CFO in a family-owned company. Not only does his new position improve results but also, makes our company future-proof for generations to come.”

The designated CFO currently holds several key management positions within the Rhenus Group, including Group Head of Compliance and Head of Group Shareholdings International. “I am thrilled to continue the Rhenus long-lasting success story as a family-owned organization and to further propel our ambitious growth trajectory. With the privilege of taking over a strong organization from Egbert, I am confident that together with our exceptionally skilled team, we will successfully protect assets for future generations”, said Gilles Delarue.

Gilles Delarue graduated with a degree in Business Administration from the Heinrich-Heine-University Düsseldorf in 1997, marking the beginning of a remarkable 30-year career as a financial expert with leading international companies.

Hashtag: #RhenusGroup

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

About Rhenus

The Rhenus Group is one of the leading logistics specialists with global business operations and annual turnover amounting to EUR 7.5 billion. 40,000 employees work at 1,320 business sites in more than 70 countries and develop innovative solutions along the complete supply chain. Whether providing transport, warehousing, customs clearance or value-added services, the family-owned business pools its operations in various business units where the needs of customers are the major focus at all times.

Laos Faces USD 154 Million Trade Deficit in July, Seventh Consecutive Month of Imbalance

Laos Faces USD 154 Million Trade Deficit in July, Seventh Consecutive Month of Imbalance

Laos recorded a USD 154 million trade deficit in July, marking its seventh consecutive month of trade imbalances. According to the Trade Information Center (LTP), this deficit excludes electricity trade.