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Johnson Electric reports results for the year ended 31 March 2023

Highlights of FY2022/23 Results

  • For the financial year ended 31 March 2023, total sales were US$3,646 million – an increase of 6% compared to the prior year. Excluding the effects of foreign currency movements and acquisitions, underlying sales increased by 11%
  • Gross profit totalled US$716 million – an increase of 2%
  • EBITA, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, decreased by 10% to US$220 million or 6.0% of sales (compared to 7.1% of sales in FY21/22)
  • Net profit attributable to shareholders totalled US$158 million – an increase of 8% compared to the prior year
  • Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, totalled US$148 million – a decrease of 10%
  • Free cash flow from operations totalled US$215 million (compared to a cash outflow of US$132 million in the prior year)
  • A recommended final dividend of 34 HK cents per share (US 4.36 cents), which combined with the interim dividend paid, will amount to a 50% increase compared to total dividends declared for the prior year
  • As of 31 March 2023, cash reserves were US$409 million and the ratio of total debt to capital at year end was 16%

HONG KONG SAR – Media OutReach – 18 May 2023 – Johnson Electric Holdings Limited (“Johnson Electric”), a global leader in electric motors and motion subsystems, today announced its results for the twelve months ended 31 March 2023.

Group sales for the 2022/23 financial year totalled US$3,646 million – an increase of 6% compared to the prior year. Excluding the effects of foreign currency movements and acquisitions, underlying sales increased by 11%. Net profit attributable to shareholders totalled US$158 million or 17.33 US cents per share on a fully diluted basis. Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, was US$148 million, a decrease of 10% compared to the prior year.

Sales Performance

The Automotive Products Group (“APG”), Johnson Electric’s largest operating division, achieved sales of US$2,914 million. Excluding currency effects and an acquisition in the prior year, APG’s sales increased by 16%. This compares favourably to the estimated 9% increase in global light vehicle industry production volumes over the same period. APG’s sustained above-market growth reflects a product portfolio that is focused on the key long-term technology trends transforming the industry. This includes innovative technologies that enable electrification, reduce emissions, enhance safety and comfort, and heat, cool or lubricate critical vehicle systems.

The strength of APG’s sales extended across every major geographic region. In the Americas, sales increased by 19% on a constant currency basis compared to light vehicle production volume growth of approximately 13%. In Europe, constant-currency sales grew by 17% compared to an 10% rise in the region’s vehicle production. And in Asia, our constant-currency sales increased by 13% compared to a 8% increase in vehicle production.

Throughout FY22/23, the automotive components sector as a whole continued to wrestle with supply chain constraints, particularly shortages of semiconductors, as well as the disruptive effects of pandemic-related lockdowns in China and Russia’s invasion of Ukraine. As a consequence, in most markets, OEMs and their dealerships have been unable to meet pent-up consumer demand for new cars for over two years and total industry output remains well below pre-pandemic levels. However, as supply chain problems have gradually eased, the ability to respond to this previously unmet demand has underpinned a large part of the industry’s recent growth trajectory.

The second key factor driving the market has been the acceleration of the shift to New Energy Vehicles. Nowhere has this been more evident than in China, where for the month of March 2023 pure battery electric cars and plug-in hybrids accounted for 34% of new passenger car sales. In Europe, demand for NEVs varies by country and remains sensitive to the impact of government subsidies. Nonetheless, plug-in vehicles already amount to around one in six new car registrations. North America has been a laggard in the take-up of NEVs up until now, partly due to concerns over driving range and charging availability. This appears set to change as U.S. OEMs have brought forward the planned large-scale electrification of their vehicle fleets and the federal government has granted a number of tax credits and other incentives to support EV purchases and investments in battery manufacturing and charging infrastructure. While the auto industry’s transition away from the internal combustion engine represents a watershed event for the majority of OEMs and component suppliers, the investments that Johnson Electric has made in new products specifically-designed to support this transition places APG in a particularly strong position to continue to gain share in the years ahead.

The Industry Products Group (“IPG”) achieved sales of US$732 million, which represented 20% of total Group sales. Excluding the effects of currency movements and an acquisition, IPG’s sales decreased by 7%.

The sales weakness that IPG experienced over the financial year reflected the combination of two main factors. First, the Covid-19 pandemic had led to an historically unprecedented surge in demand for many of the “home-centric” consumer product applications that IPG serves. However, once pandemic restrictions began to lift – especially in North America and Europe – consumer expenditure reverted back to their pre-pandemic pattern, including proportionally higher spending on services and travel. As a result, IPG’s sales experienced a negative “bullwhip effect” whereby reduced demand from consumers led to retailers, followed by their suppliers, moving to cut-back on orders and sharply reduce inventory levels. The largest impact of these reductions during FY22/23 was felt by IPG’s Asia region, which serves a number of contract manufacturers whose primary end markets are North America and Europe.

The second factor having a negative impact on IPG’s sales has been the heightening concerns among consumers regarding inflation, higher interest rates, and job security – which tends to result in tighter expenditure on discretionary consumer goods and reduced activity in the housing sector.

An important feature of IPG that helps to mitigate the impact of periods of weaker consumer sentiment is the sheer diversity of its end-product applications and breadth of its customer base. Therefore, whilst the division continues to face headwinds in several markets as fears of a global recession increase, it is also experiencing strong demand in a number of attractive strategic growth segments including medical devices, robotic applications, window automation, ventilation, and semiconductor manufacturing equipment.

Gross Margins and Operating Profitability

The Group’s gross profit was US$716 million – an increase of 2% compared to the prior year and, as a percentage of sales, represented a decrease from 20.4% to 19.6%. The erosion of gross margins was primarily due to higher raw material costs, unfavourable foreign exchange rate movements, and a reduction in the profitability of commodity hedging contracts that were only partially offset by sales volume growth, price increases, labour reductions, and other operating cost savings.

Reported earnings before interest, tax and amortization (“EBITA”) was US$232 million (compared to US$222 million in the prior year). EBITA adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, was US$220 million or 6.0% of sales (compared to 7.1% in the prior year).

Net Profit and Financial Condition

Net profit attributable to shareholders increased by 8% to US$158 million or 17.33 US cents per share on a fully diluted basis. Underlying net profit, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, was US$148 million compared to US$165 million in the prior year.

Cash generation improved sharply with free cash from operations amounting to US$215 million, largely due to lower working capital and capital expenditure. Johnson Electric’s financial condition remains sound with a total debt to capital ratio of 16%.

Dividends

In the prior financial year 2021/22, during a period when cash flow generation was severely constrained, the Board determined that it was prudent for the Company to conserve its cash until the situation improved and accordingly recommended a 50 per cent reduction in the final dividend. Notwithstanding ongoing macro-economic uncertainties, the Board considers that the financial condition of the business has improved sufficiently to enable a return to the level of final dividend payments that prevailed prior to the reduction. It has therefore recommended to increase the final dividend payment to 34 HK cents per share (FY21/22: 17 HK cents per share). Together with the interim dividend of 17 HK cents per share, this represents a total dividend of 51 HK cents per share, equivalent to 6.54 US cents per share.

The final dividend will be payable in cash, with a scrip alternative where a 4% discount on the subscription price will be offered to shareholders who elect to subscribe for shares. Full details of the scrip dividend alternative will be set out in a circular to shareholders.

Corporate Development and Acquisitions

In September 2022, the Group acquired the remaining 20% equity interest it did not already own in Halla Stackpole Corporation, an Asia-focused powder metallurgy business with a strong presence in China and Korea. Since becoming a wholly-owned subsidiary of the Group, the business has been further integrated into the Stackpole Powder Metal business unit to realize additional operating synergies. As the automotive market transitions to electric vehicles, lighter-weight components produced using powder metal technology are expected to play an increasingly important role in delivering greater energy efficiency and improved performance compared to conventional forged or die cast metal counterparts.

In October 2022, the Group also completed the acquisition of an 80% equity stake in Pendix GmbH, an established, technology-driven player in the fast-growing electric bike (“e-bike”) sector. Based in Zwickau, Germany, Pendix designs and manufactures complete electric cargo bikes and electric drives for bicycles. By combining Pendix’s technology and application expertise with Johnson Electric’s industrial scale and resources, the acquisition provides an exciting platform from which to build a strong and differentiated presence in the European e-bike market.

Chairman’s Comments on the Annual Results and Outlook

Commenting on the annual results for the financial year 2022/23, Dr. Patrick Wang, Chairman and Chief Executive, said, “The financial year 2022/23 was challenging for Johnson Electric as macro-economic conditions continued to create unpredictable demands on global manufacturing supply chains and to pressure profit margins. Nonetheless, the business achieved solid sales growth in the face of rising consumer concerns regarding inflation and higher interest rates. Significant progress was also achieved in improving free cash flow generation and on focusing the business model on segments where the Group is best positioned to gain from the major structural shifts occurring in the industries we serve.”

Commenting on the outlook for the business, Dr. Patrick Wang, said, “The near-term prospects for the global economy remain fragile. Although the distorting effects of the pandemic on both demand and supply have begun to ease, the steep increase in inflation and interest rates threatens to push some developed economies into recession. In this context, with quite limited visibility on whether a recession will be avoided, management is budgeting for sales growth in FY23/24 in the range of 5% to 7%.”

“Our motion products and technologies are targeted directly at many of the most fundamental trends shaping modern society and which underpin our medium and long-term growth prospects. These trends include electrification, automation, environmental protection, mobility, health, and lifestyle improvement. In each of these dimensions, we are introducing a succession of innovative solutions that deliver the product application performance improvements that end consumers are demanding. In the automotive sector, for example, our electric water pumps and valve actuators are critical enablers to electric vehicle thermal management systems that enhance driving range, extend battery life, and shorten charging times. Other examples, in industrial and consumer applications, include BLDC motor technologies that enable lawn and garden OEMs to electrify their product ranges and kitchen ventilation system producers to meet the latest stringent regulations for energy efficiency.”

“Innovative technology is only one element in a successful business model. The second key thrust to our strategy is to bring this technology to market through a global manufacturing platform that utilizes scale and standardized production lines to improve cost competitiveness through reduced cycle times, increased up-times, and lower requirements for additional capital expenditure and space. In its recent history, the Group has made considerable investments in re-designing and expanding its operating footprint to meet the requirements of a more automated and digital age, which provides a solid foundation for Johnson Electric to improve profit margins and cash generation.”

Hashtag: #JohnsonElectric

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

About Johnson Electric Group

The Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 35,000 individuals in 22 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: .

Forward Looking Statements
This news release contains certain forward looking statements with respect to the financial condition, results of operations and business of Johnson Electric and certain plans and objectives of the management of Johnson Electric.

Words such as “outlook”, “expects”, “anticipates”, “intends”, “plans”, “believe”, “estimates”, “projects”, variations of such words and similar expressions are intended to identify such forward-looking statements. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results or performance of Johnson Electric to be materially different from any future results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding Johnson Electric’s present and future business strategies and the political and economic environment in which Johnson Electric will operate in the future.

Secured Lending Application Selected for HKMA’s Inaugural e-HKD Pilot Programme for Retail Central Bank Digital Currency (CBDC) Assessment

  • The Hong Kong Monetary Authority (HKMA) has selected a secured lending application of e-HKD for the inaugural e-HKD pilot programme
  • The proposed solution is led by Boston Consulting Group (BCG), HKT Payment Limited and ZA Bank, who will partner with paywith.glass and Venture Smart Financial Holdings Limited (VSFG) as a consortium during the pilot
  • The e-HKD Pilot Programme is in line with HKMA’s three-rail approach, announced in September 2022, aimed at preparing for potential e-HKD implementation

Hong Kong SAR – Media OutReach – 18 May 2023 – The Hong Kong Monetary Authority (HKMA) has shortlisted a financial solution in a secured lending product backed by tokenized real assets for participation in the inaugural e-HKD Pilot Programme. This proposed solution is led by Boston Consulting Group (BCG), HKT Payment Limited and ZA Bank. They will be joined by paywith.glass and Venture Smart Financial Holdings Limited (VSFG) as a consortium to collectively develop and evaluate this application, leveraging the potential programmability feature of e-HKD.

The consortium will bring together key players from various industry verticals to foster long-term e-HKD development, leveraging their collective cross-industry experience and ensuring a diverse range of perspectives. The initial focus will be on leveraging e-HKD’s potential features to empower new applications in a secured lending product, as part of the e-HKD Pilot Programme.

The e-HKD Pilot Programme is part of HKMA’s strategic three-rail approach to prepare for potential e-HKD implementation. Rail 1 focuses on establishing the necessary technological and legal foundations, while Rail 2, running concurrently with Rail 1, is aimed at conducting in-depth exploration of e-HKD use cases and addressing implementation and design issues. Rail 3 concerns the rollout of e-HKD.

Saurabh Tripathi, Managing Director & Senior Partner and Global Leader of Financial Institutions Practice at BCG remarked: “We are thrilled to support the impressive e-HKD development in Hong Kong. Retail Central Banking Digital Currency (CBDC) is a significant development in the financial system, and we’re eager to share our expertise to support the exploration of e-HKD benefits for retail use cases.”

Susanna Hui, Group Managing Director at HKT, stated: “As an advocate of FinTech and digital economy, HKT is delighted to be a partner of this project and leverage our experience from Tap & Go to facilitate Web3.0 development and explore potential e-HKD use cases in Hong Kong.”

Paul Sisnett, CEO & Co-Founder at paywith.glass, commented: “We are dedicated to apply our experience from other markets to support the use case development of e-HKD through the e-HKD Pilot Programme.”

Lawrence Chu, Co-Founder & Group Executive Chairman at VSFG, stated: “Introducing an enhanced form of money requires meticulous planning. We anticipate this cross-industry collaboration will generate valuable data to facilitate e-HKD assessment.”

Ronald Iu, CEO of ZA Bank, shared: “ZA Bank has always been at the forefront of Hong Kong’s FinTech development. It is an honor to team up with leading industry players to support the HKMA’s e-HKD initiative. This also marks another step of our journey towards the ‘Banking for Web3’ ambition for building an inclusive financial ecosystem.”

Hashtag: #PCCW #HKT #eHKD #DigitalEconomy #SmartCityDevelopment #web3

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

About HKT Limited

HKT is a technology, media, and telecommunication leader with more than 150 years of history in Hong Kong. As the city’s true 5G provider, HKT connects businesses and people locally and globally. Our end-to-end enterprise solutions make us a market-leading digital transformation partner of choice for businesses; whereas our comprehensive mobile communication and smart living offerings enrich people’s lives and cater for their diverse needs for work, entertainment, education, well-being, and even a sustainable low-carbon lifestyle. Together with our digital ventures which support digital economy development and help connect Hong Kong to the world as an international financial centre, HKT endeavours to contribute to smart city development and help our community tech forward.

For more information, please visit .

LinkedIn:

Blue Bottle Coffee Perfects The At-Home Iced Latte With The Introduction Of Craft Instant Espresso

HONG KONG SAR – Media OutReach – 18 May 2023 – Blue Bottle Coffee announces its latest innovation and first soluble espresso product – Craft Instant Coffee Espresso will be available in Blue Bottle Coffee Hong Kong starting from 20 May. Removing the need for machines and brewing expertise, Blue Bottle’s Craft Instant Espresso makes enjoying delicious cafe-quality espresso drinks anywhere effortless, instantly brings the meticulous quality of Blue Bottle espresso into your home.

Born from years of exploration, research and development, Blue Bottle’s custom process developed with its in-house coffee roasting and brewing expertise captures the true essence of coffee. In developing Craft Instant Espresso, Blue Bottle set out to provide guests with a simple and convenient way to craft quality iced lattes – one of the brand’s most popular cafe drinks – at home with just (alt) milk and a spoon. The result is an instant-based iced latte that Blue Bottle quality assurance experts consistently rate at or above traditional iced espresso lattes in blind taste tests. In addition to the canned version for home use, Blue Bottle Coffee also offers a portable package to enjoy quality coffee wherever you go.

To develop Craft Instant Espresso, Blue Bottle brought its 20 years of experience in sourcing, roasting and brewing to reimagine the end-to-end process of creating instant coffee. Blue Bottle focused on two key processes to make its instant espresso: extraction and drying. Taking a gentle approach to extracting by using milder temperatures and pressure, and treating the coffee more delicately and as purely as possible, the quality of the output improved exponentially. Blue Bottle also lengthened the freeze-drying process, which results in a higher quality product and ultimately a better-tasting cup.

The details of Craft Instant Espresso:
Craft Instant Espresso Multiserve 48g
Make heavenly iced or hot lattes in seconds, anywhere life leads you. At home, your in-laws, an Airbnb getaway—whenever you crave a Blue Bottle cafe-quality espresso drink. Our custom process transforms exceptional craft coffee into aromatic crystals with the dimension and richness of espresso. Consistently delicious lattes couldn’t be simpler to brew. Jar includes 12 servings.

HK$298

Craft Instant Espresso Single Serve Five Individual Sachets
Make heavenly iced or hot lattes in seconds, anywhere life leads you. At home, your in-laws’, an Airbnb getaway—whenever you crave a Blue Bottle cafe-quality espresso drink. Our custom process transforms exceptional craft coffee into aromatic crystals with the dimension and richness of espresso. Consistently delicious lattes couldn’t be simpler to brew. Includes five individual sachets.

HK$132

Craft Instant Espresso and Cupping Spoon Set
A set guaranteed to delight coffee connoisseurs: a 48 gram jar of Craft Instant Espresso for making consistently delicious lattes in seconds, plus our Blue Bottle Cupping Spoon, which doubles as a handsome dose measurement tool.

HK$428 (Spoon | HK$150)

Shop Detail:
Central Café
38 Lyndhurst Terrace
08:00 – 18:00 (mon-sun)

IFC Café
Shop 3077, 3/F,
International Finance Centre
08:00–19:00 (mon-fri)
10:00–19:00 (sat, sun & PHs)

Wan Chai Café
15 St. Francis Street, Wan Chai
08:00 -21:00 (mon-sun)

Hashtag: #BlueBottle


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

About Blue Bottle

Blue Bottle Coffee was founded by James Freeman in Oakland, California, in 2002 with a simple yet revolutionary idea: to serve delicious coffee, roasted fresh and brewed to order, sourced from the finest, sustainable coffee farms. Today, we are a global brand with a network of cafes in the U.S. and Asia driven by our dedication to Kaizen (True Quality), Essential Design, Omotenashi (Spirit of Hospitality) and Creative ‘Blending.’ As the leader in specialty coffee, we seek to inspire coffee lovers everywhere to experience the best of what coffee has to offer – from ‘seed to cup to culture.’ Follow Blue Bottle on Facebook, Instagram, and Twitter, or visit bluebottlecoffee.com for more information.

Sanamxay Land Grab Temporarily Paused Following Public Backlash

Sanamxay Land Grab Temporarily Paused Following Huge Commotion
Chinese company forced to halt field operation after a heat with villagers

Attapeu provincial authorities have temporarily suspended the activities of a foreign company accused of encroaching on villagers’ land in the province amid a public backlash on social media.

El Niño to Hurt In-Season Rice Output in Thailand

El Niño to Hurt In-Season Rice Output in Thailand
A farmer harvesting rice under the hot sun (photo: Freepik)

Royal Ploughing Day, held on 17 May, marks the start of the rice planting season in Thailand, but researchers say El Niño could hurt rice output.

LEGOLAND® School Challenge 2023 Opens to ASEAN Countries, Calls for Students to Build Cities of The Future

Students from Singapore, Malaysia, Indonesia, Thailand, and the Philippines to compete for recognition & attractive prizes worth SGD30,000 from LEGOLAND® Malaysia Resort

  • LEGOLAND School Challenge expands its region to include students from ASEAN countries such as Singapore, Malaysia, Indonesia, Thailand, and the Philippines.
  • Schools and winning teams will be credited, and entries will be displayed at LEGOLAND Malaysia Resort.
  • The Competition hopes to instill a lifelong learning mindset through STEM approach that reinforces teamwork, critical thinking, problem-solving and self-confidence.

JOHOR BAHRU, MALAYSIA – Media OutReach – 18 May 2023 – LEGOLAND® School Challenge (the “Competition”), created and organised by LEGOLAND® Malaysia Resort, is back in its second iteration.

This year, LEGOLAND School Challenge expands its region to include students from ASEAN countries such as Singapore, Malaysia, Indonesia, Thailand, and the Philippines.

Open to students from 7 to 12 and 13 to 17 years old in two categories, the Competition aims to unleash their imagination to create worlds of their dreams with LEGO®. The theme for this year’s competition is Cities of The Future. Schools and winning teams will be credited, and entries will be displayed at LEGOLAND Malaysia Resort.

LEGOLAND School Challenge is created based on LEGO’s DNA of learning through play. The Competition hopes to instill a lifelong learning mindset through STEM approach that reinforces teamwork, critical thinking, problem-solving and self-confidence.

“Last year, the inaugural LEGOLAND School Challenge received participation from over 205 groups from schools in Malaysia. We are encouraged by the support. This year, we have expanded to include schools from the region,” shares Mr. CS Lim, Divisional Director, LEGOLAND Malaysia Resort. “We are confident that play has the power to change lives and that LEGOLAND School Challenge can inspire our builders of tomorrow to see a future they can shape.”

Supported by the Ministry of Education Malaysia (MoE), LEGOLAND School Challenge is now recognised as a part of the official extracurricular program in Malaysia.

The Competition is also made possible by Ministry of Tourism, Arts and Culture (MOTAC), Johor Tourism, Johor State Education Department, and Iskandar Investment Berhad (IIB).

LEGOLAND School Challenge
Theme:
Cities of The Future
Categories: 7 to 12, and 13 to 17 years old
Registration Period: Now till 26 May 2023
Submission Period: 19 June to 7 July 2023

Visit official LEGOLAND School Challenge webpage to register.
Hashtag: #LEGOLANDMalaysia #LSC2023


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

About LEGOLAND® Malaysia Resort

LEGOLAND® Malaysia Resort brings together a LEGOLAND Theme Park, Water Park, Hotel and SEA LIFE in one LEGO® themed location. It is the ideal family holiday destination with more than 80 hands-on rides, slides, shows, and attractions. It is the first of its kind in Asia that offers comprehensive adventure, education, and fun for either an action-packed day trip or a short break destination ideal for families with kids aged 2 to 12 years old.

The Theme Park is divided into eight themed areas containing thrilling rides, exciting LEGO workshops, awe-inspiring Miniland where Asia’s interesting landscapes, countries and landmarks are recreated in miniature made with more than 30 million LEGO bricks. The Water Park is the largest LEGOLAND Water Park in Asia which features 20 unique slides, waves, wade pools, interactive water-play structure and Build-A-Raft River.

LEGOLAND Hotel Malaysia is the first LEGO themed hotel in Asia. Choose your preferred theme room at a hotel all equipped with LEGO theming elements, giving you choices to be trained like a NINJA, playing pirate, commanding a Kingdom or embarking on an adventure option. All rooms include a king-sized bed for parents and a separate private sleeping area for 3 kids. Participate in our in-room treasure hunt activity and stand a chance to win cool LEGO gifts.

SEA LIFE is the world’s largest international aquarium brand with more than 50 outlets in the world and it is the latest addition to LEGOLAND Malaysia Resort. This attraction will immerse all guests in an intimate and interactive journey underneath the waves. All visitors will have chance to enjoy up-close experiences with sea creatures and be inspired to learn more about our blue planet’s invaluable natural marine assets through magical storytelling, interactive displays and hands-on encounters. SEA LIFE Malaysia has more than 25 display tanks in 11 habitat zones featuring 13,000 amazing sea creatures. The Malaysian Rainforest is one of the unique exhibit zones featuring local creatures in Malaysia. Don’t miss this special zone where you can never find it in other SEA LIFE attractions.

Laos Economy to Grow by 4.5% in 2023, Say Researchers

Laos’ Economy to Grow by 4.5%, Say Lao Researchers
Lao - Thai trade by boat. ( Photo : Bangkok Post )

Researchers in Laos are optimistic and predict that the economy may grow up to 4.5% this year.

Crowned the Auto-Focus Champion among LCD Projectors, the Wanbo NEW T2 Max Arrives in Magnificent Splendour Following a Comprehensive Upgrade.

SHENZHEN, CHINA – Media OutReach – 18 May 2023 – Wanbo has recently unveiled an enhanced version of the T2 Max, christened the NEW T2 Max. This successor boasts a superior performance compared to its predecessor. The NEW T2 Max represents a substantial breakthrough and upgrade from the original T2 Max, all the while retaining the aesthetic appeal of its predecessor’s design. Upon its release, the T2 Max became an instant sensation, achieving first place in Xiaomi’s Ecological Chain sales rankings. It consistently topped sales charts in the Southeast Asian projector market, including countries such as China, Thailand, Singapore, the Philippines, and Malaysia. The T2 Max garnered commendable acclaim, earning epithets such as “the first projector for the younger generation” and “the champion of LCD projectors”, and it has been widely adored by a myriad of consumers.

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In the face of the rapid advancement of the intelligent product industry, traditional projectors can no longer satisfy the demands of the contemporary youth. Numerous projector brands have begun to venture into the realm of compact, portable projectors, shattering the traditional projector’s image of being cumbersome and inflexible. This has endowed projectors with the virtues of compactness and portability, leading to a more diverse array of application scenarios.

Wanbo NEW T2 Max perpetuates its commitment to innovation and transcendental experiences. It takes minimalistic aesthetics to new heights, marrying intricate craftsmanship and high performance under the banner of lightness and an extraordinary experience, thereby enhancing structural aesthetics. Each unit is assembled in a professional dust-free workshop, complying with rigorous anti-dust standards. It undergoes over 1000 repetitions of AI auto-focus functionality, 1200+ interface insertion/removal tests, 400+ lens transparency tests, over 20000 hours of comprehensive lifespan testing, 1000+ IP5X dust resistance tests, and over 300 drop tests before it reaches the consumer.

The Wanbo NEW T2 Max features a comprehensive upgrade in brightness, which has been dramatically boosted to 450 ANSI. This is an impressive 80% increase compared to its predecessor, the T2 Max. Coupled with HDR10 decoding, the enhancement effectively boosts contrast, colour saturation, and results in a clear, natural image with a more nuanced contrast between light and dark. The projector uses a high-transparency optical lens with five layers of light concentration, greatly increasing the light transmittance. This effectively prevents defocusing and running focus, delivering a visibly pure image that offers higher contrast and sharpness, along with more naturally transparent colour saturation. Furthermore, the Wanbo NEW T2 Max possesses a 1080P physical resolution and supports 4K. Its professional image quality engine automatically calibrates to provide a striking visual experience, replete with intricate clarity. It can automatically and real-time reshape image details, restoring true colours.

Acclaimed as the champion of auto-focus among LCD projectors, the Wanbo NEW T2 Max is now equipped with Wanbo’s self-developed AI intelligent algorithm. With a casual placement and a simple power-on, it achieves automatic focusing, liberating your hands and granting you a head start in the cinematic experience. Enjoy high-definition projection effortlessly, and immerse yourself in an awe-inspiring visual universe at a single touch! The projector has a new noise-reduction duct for quieter operation, featuring a dual vortex for low-noise performance, silently safeguarding your viewing time. The built-in low-noise dual cyclone air-cooling system swiftly dissipates heat, while the intelligent constant temperature system in its smart heat insulation design ensures efficient cooling, thereby extending its lifespan. Upon booting, the Android 9.0 system provides a clean and simple interface, making operations more straightforward and smooth. With abundant free film and television resources and captivating videos at your disposal, it is an experience not to be missed.

With the easing of the pandemic, competition within the intelligent projector industry has intensified. Only through innovative endeavours supplemented by high-quality products can a brand journey farther. In response, Wanbo has introduced its groundbreaking upgraded product—the Wanbo NEW T2 Max—which features enhancements in image quality, sound quality, and intelligence. It is foreseeable that the price of the Wanbo NEW T2 Max will be set within a range acceptable to a broad populace of consumers, thus granting more individuals the opportunity to savour the sublime viewing experience that a high-quality projector can provide.

According to official sources, the newly upgraded Wanbo NEW T2 Max will be making its grand debut on LAZADA, SHOPEE, and Amazon on May 25th. Let’s eagerly anticipate its arrival.

Hashtag: #Wanbo

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