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Stella Well Ahead of Schedule in Meeting Growth and Margin Expansion Targets in 2023

Well-Positioned to Capture Opportunities with Strong Net Cash Position

Highlights:

  • Well ahead of schedule in meeting operating margin and profit after tax CAGR target levels set out under our Three-Year Plan (2023 – 2025)
  • Average selling price (“ASP) increased by 4.2%
  • Further enhancement of customer portfolio, led by Luxury and high-end Fashion categories
  • Rationalisation of the Group’s retail operation in Mainland China and exited all other physical points-of-sales worldwide
  • Gross profit margin expanded by 3.0 percentage points to 24.6%
  • Operating profit US$159.4m saw an increase of 18.2% year-on-year
  • Operating profit margin increased to 10.7% from 8.3% last year
  • Adjusted net profit increased by 23.5% to US$147.6 million
  • Strong net cash position of US$287.4 million (2022: US$206.1 million). About US$140.0 million is earmarked for delayed capacity expansion in Bangladesh and Indonesia
  • Declared final dividend of HK61 cents per share, representing a full-year dividend of HK103 cents per share (70% payout ratio based on adjusted net profit)

HONG KONG SAR – Media OutReach Newswire – 21 March 2024 – Stella International Holdings Limited (“Stella” or the “Group”; SEHK: 1836), a leading developer, manufacturer and retailer of quality footwear and leather goods products, today announced its annual results for the year ended 31 December 2023.

In 2023, we were well ahead of schedule in reaching the growth targets set out under our Three-Year Plan (2023-2025), namely achieving an operating margin of 10% and a low-teens annualised growth rate on profit after tax by the end of 2025.

ASP and Margin Expansion driven by Much-Enhanced Customer and Product Mix

A much-enhanced customer and product mix, driven by customers in our Luxury and high-end Fashion categories introducing new premium products, offset the impact of destocking by some Sports customers and contributed to the 300 basic point increase in our gross profit margin. Our average selling price (“ASP”) increased, even as revenue and volume declined as expected. At the same time, our relentless focus on improving our operational efficiency, while maintaining tight cost controls, steadily enhanced our operating margin which expanded to 10.7% compared to 8.3% in 2022.

Due to the factors outlined above, the Group recorded a net profit of US$140.3 million. Excluding a net fair value change from its investment in Lanvin Group, the Group recorded an adjusted net profit of US$147.6 million (2022: US$119.5 million). Our adjusted net profit margin was 9.9% (2022: 7.3%).

Maintained Normal Payout Ratio of about 70%

After considering the Group’s free cash flow situation, the Board has resolved to declare a final dividend of HK61 cents per ordinary share, representing a full-year dividend of HK103 cents per ordinary share for the year ended 31 December 2023, and maintaining our normal payout ratio of about 70% set against our adjusted net profit.

Outlook: Optimistic about Continued Margin Expansion with Further Enhancement of Customer and Product Mix and Improving Production Efficiency under the Three-Year Plan

We expect to maintain our strong gross profit margin and operating margin levels in 2024 and to continue meeting the targets set out in the Three-Year Plan.

We expect our non-Sports manufacturing facilities to continue operating at close to full utilisation as we further enhance our product category mix as part of our Three-Year Plan. As such, we plan to transition more production from our factories in Vietnam to the factory we are ramping up in Solo, Indonesia, including the production of some Fashion products, as workers’ skills improve. We also expect our Sports order book to improve in 2024.

Push Forward Capacity Expansion in Indonesia and Bangladesh

As we become more confident about our outlook, we plan to push forward our long-term capacity expansion projects. This includes the start of building a new manufacturing facility in Indonesia for our major Sports customer, and further progressing the buildout of an additional production facility in Bangladesh that we are already undertaking.

Mr. Chi Lo-Jen, Chief Executive Officer of the Group said, “We are optimistic about continued margin expansion as we enhance our customer and product mix, increase our production efficiency, and further strengthen our operational management through digitalisation and other measures under our Three-Year Plan. Even with the global retail environment remaining subdued, we remain firmly on the path to delivering improved profit and strong performance.”

Mr. Lawrence Chen, Chairman of the Group, said, “We will continue to cultivate our relationships with new customers in the Luxury and high-end Fashion categories, which are seeking to expand or add premium lifestyle and athleisure footwear into their collections, to enhance our product mix and provide increasing returns for our shareholders.”
Hashtag: #Stella

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

About Stella International Holdings Limited

Stella International (SEHK: 1836) is a leading developer and manufacturer of quality footwear and leather goods. A trusted partner to many of the world’s most sought-after brands, it offers a unique proposition of unparalleled craftsmanship, production flexibility, and strong speed-to-market and commercialization capability, supported by a broad, diverse and proven manufacturing base across China and Southeast Asia.

Stella International was listed on the Hong Kong Stock Exchange in 2007 and is a constituent of the MSCI Hong Kong Small Cap Index.

Black Bear Cubs Rescued, Handed Over for Conservation

Black Bear Cubs Rescued, Handed Over for Conservation
Police and Free the Bear officials pose with the rescued black bear cubs (photo: Vientiane Capital Public Security)

Vientiane Capital’s public security rescued 16 black bear cubs from the Far Thai Microfinance Institution in Nongsanokham village, Sikhottabong district, on 17 March before handing over the animals to a local bear conservation organization.

53% of Hong Kong Firms Target GBA for Growth, Driven by Innovation and Market Potential


HONG KONG SAR – Media OutReach Newswire – 21 March 2024 – The Page Insights C-suite Confidence Insights report for 2024 has unveiled findings, highlighting the Greater Bay Area (GBA) as the epicenter of business expansion and innovation for Hong Kong companies. An impressive 53% of businesses in Hong Kong are setting their sights on the GBA, incentivised by its expansive market opportunities, technological innovation and supportive government policies.

This research conducted across 277 C-suite and senior management leaders across the Chinese Mainland, Hong Kong and Taiwan offer a detailed outlook on the Greater China’s business landscape for 2024. These are told from the lens of top decision makers from the region’s prominent companies.

“The 2024 Page Insights C-suite Confidence Insights report marks a transformative period for Hong Kong’s business sector, emphasising the pivotal role of the GBA in shaping a future rooted in strategic expansion and progressive innovation,” stated Rupert Forster, Senior Managing Director at Michael Page Greater China.

“This report reflects the buoyant optimism amongst business leaders and highlights their commitment to seize emerging opportunities, draw in top-tier talent, and stimulate economic growth. The GBA stands as a vibrant hub of untapped potential, positioning Hong Kong’s businesses ahead of the economy.”

The sectors at the forefront include Banking & Financial Services, Technology, FMCG, Healthcare & Life Sciences, and Industrial & Manufacturing. These industries, driven by innovation and technological advancement, are poised to lead the expansion into the GBA, showcasing the region’s ability to attract diverse business interests.

Amidst this environment of growth and expansion, the sentiment among C-suite leaders in Hong Kong is positive. With confidence scores of 6.8 (out of 10) for company outlook and 6.7 for industry outlook, the report indicates a sense of optimism about the future. This optimism is grounded by strategic planning at the C-Suite level and a clear vision for 2024 and beyond.

In addition, the report highlights a strategic shift in hiring needs, with an increase in roles within sales, marketing, technology, and R&D sectors. This shift reflects the industries’ progression towards innovation and indicates a broader trend of adapting to the changing business landscape. On the opposite side, there’s a strategic reduction in roles within finance, legal, HR, and administration, signaling a move towards leaner, more efficient operational models.

The report’s insights into the strategic importance of the GBA, coupled with a proactive approach to talent acquisition and business development, position Hong Kong as a central hub for innovation and economic growth in the region.

Hashtag: #MichaelPage

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

Diamond Federation of Hong Kong’s “Happy Hong Kong Natural Diamond Grand Lucky Draw” Successfully Concluded with Prizes Worth Over HKD 6 Million Holiday Shopping Fervor Drives Business Prosperity


HONG KONG SAR – Media OutReach Neswire – 21 March 2024 – The “Happy Hong Kong Natural Diamond Grand Lucky Draw”, jointly presented by the Diamond Federation of Hong Kong (DFHK) and over 350 participating jewellery shops, launched on December 1, 2023 has successfully concluded. The campaign received an enthusiastic response, with 157 prize winners and prizes totalling over HKD 6 million in natural diamonds and shopping vouchers for diamond jewellery. DFHK recently hosted an award ceremony where the grand prize—a 3 carat D colour natural diamond retail valued at approx. HKD 1.9 million, along with an HKD 5,000 shopping voucher for diamond jewellery—was presented, allowing consumers to bask in the allure of natural diamonds.

Members of the Diamond Federation of Hong Kong, together with Legislative Council member (Wholesale and Retail) Mr. SHIU Ka-fai, JP, awarded natural diamonds and diamond jewellery shopping vouchers with a total value exceeding HKD 6 million to various lucky recipients.
Members of the Diamond Federation of Hong Kong, together with Legislative Council member (Wholesale and Retail) Mr. SHIU Ka-fai, JP, awarded natural diamonds and diamond jewellery shopping vouchers with a total value exceeding HKD 6 million to various lucky recipients.

157 Lucky Winners, with a Grand Prize of a 3-carat Natural Diamond retail Valued at approx. HKD 1.9 Million

Customers who purchase one or more jewellery items containing natural diamonds (excluding lab-grown diamonds and watches) from participating jewellery shops during the promotion period were eligible for the Lucky Draw. A total of 157 lucky winners, including participants from Mainland China, Hong Kong, Southeast Asia, and occident countries, received prizes including natural diamonds and diamond jewellery shopping vouchers. The award ceremony was graced by Hon SHIU Ka-fai, JP, Legislative Council member (Wholesale and Retail), as well as representatives from DFHK. The grand prize —a 3-carat, D-color natural diamond—was retail valued at approx. HKD 1.9 million, allowing participants to share the joy of their shopping experiences and the excitement of the lucky draw with their loved ones. Grand prize winner Mrs. HO shared, “Hong Kong’s jewellery industry is renowned for its high quality and integrity. The professional service and strict regulations, along with rigorous quality certifications, instill consumer confidence. As a connoisseur of natural diamond jewellery, it was an unexpected delight to not only find a perfect piece chosen by my husband but also win the grand prize of a 3-carat natural diamond.”

Mr. Victor Yiu, the Chairman of DFHK said: “During the extended festive period, encompassing Christmas, New Year’s Eve, Lunar New Year, and Valentine’s Day, the festive atmosphere contributed to vibrant consumer sentiment, with a total of nearly 12 million[1] visitors to Hong Kong over the span of three months. Benefiting from the rebound in visitor numbers, the total retail sales value in December 2023 and January 2024 reached a staggering HKD 72.8 billion[2], with the sales value of jewellery, watches, and luxury gifts showing an average year-on-year increase of 37%[3]. We believe that the local diamond industry has successfully emerged from the trough and is steadily on the rise. With the recovery of the tourism and retail sectors in Hong Kong, as well as the resumption of jewellery exhibitions, we are confident that the sales of jewellery can return to pre-pandemic levels.”

Buy With Confidence – The 4 Jewellery Quality Assurance Marks

To foster a premium shopping environment, the DFHK and the Jewellers’ and Goldsmiths’ Association of Hong Kong have introduced four quality assurance marks: “Natural Fei Cui Quality Mark”, “Natural Diamond Quality Assurance Mark”, “Quality Gold Mark” and “Reputation Shop Mark”. These marks are designed to strengthen consumer confidence in purchasing jewellery in Hong Kong. The industry hopes to reinforce and maintain Hong Kong’s status as “Asia’s Diamond Shopping Paradise” following the challenges posed by the pandemic. There is a continued commitment to promoting consumer rights and the exceptional service of merchants, ensuring that customers can shop for natural diamonds with greater satisfaction and peace of mind.

Congratulations to all the lucky winners! The list of winners has been published on our website. Check out the full list here.

Trade Promotion Competition License No.: 57836


[1]Figures from Tourism Board and the Immigration Department
[2]Census and Statistic Department’s statistics of retail sales for December 2023 & Jan 2024
[3]Census and Statistic Department’s statistics of retail sales for December 2023 & Jan 2024

Hashtag: #DiamondFederationofHongKong

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

About The Diamond Federation of Hong Kong

The Diamond Federation of Hong Kong (DFHK) is a non-profit organization with the goal of upholding integrity in the diamond industry and safeguarding consumer interests through unified business practices. DFHK’s mission is to maintain Hong Kong’s reputation as the diamond hub of Asia, a world-renowned “shopping paradise,” and an “Asian world city.” To achieve this, DFHK has established close connections and collaborations with the Hong Kong Tourism Board, Consumer Council, Hong Kong Trade Development Council, and various government agencies over the years.

Building on the success of the “Quality Gold Mark” and “Natural Fei Cui Quality Mark” programs, DFHK launched the “Natural Diamond Quality Assurance” Mark scheme (NDQA) in 2015. Aiming to uphold Hong Kong’s reputation as a diamond trading centre at both the trade and consumer levels, and lead the industry in protecting consumer’s rights. NDQA serves as a mark of confidence for diamond consumers, strengthening their confidence, increase awareness and desire for diamond jewellery in Hong Kong.

Vehicle Gift from Vietnam to Laos Raises Eyebrows Amid Taxi Legal Woes

Vehicle Gift from Vietnam to Laos Raises Eyebrows Amid Taxi Legal Woes
The donated vehicles (photo: Lao Security Magazine)

Vietnam’s Ministry of Public Security recently donated 50 vehicles to Laos to support the country’s role as the 2024 ASEAN chair, aiming to enhance safety and security measures during its tenure.  However, this generous act has raised questions about whether the Vietnamese taxi service in Laos is using this as a means to avoid legal repercussions after a significant number of road accidents.

Leung & Hedou Crowned Champions of the Goodman Healthy Hike & Run


HONG KONG SAR – Media OutReach Newswire – 13 March 2024 – The 2024 Goodman Healthy Hike & Run took place, a spectacular display of athleticism and a celebration of the city’s breathtaking trails. Over 550 competitors from Hong Kong and around the world gathered to participate in this incredible event.

Image

In an extraordinary feat, local Hong Kong runner Leung Son Keng and Sophie Hedou (France) emerged as the champions of the 2024 Goodman Healthy Hike & Run. Leung, secured the first-place position in the men’s 19 km category, while Hedou took first-place in the women’s 19 km category.

Runners competed under three categories – 5 km, 13 km and 19 km, all enjoying the spectacular view of the Tai Lam Chung Reservoir, commonly known as the ‘Thousand Islands Lake’. The runners were joined by spectators on the course and at the finish line. The Goodman Healthy Hike & Run promotes the beautiful hiking trails around Hong Kong and supports environmental initiatives such as ‘leave no trace’.

Race Results

The results reflected a tight race across all categories. In the 19 km run, Leung from Hong Kong and Hedou from France were crowned champions with a winning time of 1 hour 37 minutes 10 seconds and 1 hour 49 minutes 5 seconds respectively.

Leung couldn’t hide his excitement as he secured the title. ”Running on this picturesque trail was a privilege and I savoured every moment, ” he said. “The race brought together a group of competitors and it’s an honour to stand at the top. The course marking was excellent and very happy with the great organization” said Leung.

Reflecting on her victory in the women’s 19 km run, Hedou said, ”The energy of the people around me motiving me at the start, the beauty of the trail fuelled to the end really helped me. I did the Goodman race last year and came 2nd, so this year getting the win is extra special. The Tai Lam trails around the reservoir in this part of Hong Kong’s trails are truly remarkable, and I’m grateful to compete on such a stunning course.”

Run Responsibly and Sustainably

To enhance the enjoyment of the hike and run journey while minimizing waste, the organisers provided fruit, biscuits, energy bars, sandwiches and water at various checkpoints and the finish line, with runners required to bring their own water bottles & flasks to refill on the way.

Under the ‘leave no trace’ initiative, the equivalent of 1200 paper cups were saved during this year’s event and 9 bags of waste were recycled.

Kristoffer Harvey, Chief Executive Officer, Greater China at Goodman Group, said: ”Congratulations to the winners and all the participants for a great race. Well done to Action Asia for once again hosting this incredible event with such an impressive turnout. It’s great to see so many different groups of people embrace this sustainable race. We hope that by being part of the Goodman Healthy Hike and Run, either as a participant or a spectator, it will continue to inspire people to keep ‘leaving no trace’ while enjoying the natural beauty of Hong Kong and keeping healthy.”

Michael Maddess, Director of Action Asia Events, said: “Congratulations to all the winners — their achievements are truly well-deserved! We are proud to have partnered with Goodman, a company that shares our passion in prioritising sustainability, health, and wellbeing. Congratulations to the winners and all the competitors.”

The Goodman Healthy Hike & Run set off from Tai Tong Shan Road BBQ area at 7:30 am with the 19 km / 13 km / 5 km races setting off at different times. The event is organised by Action Asia Events, with generous support from title sponsor Goodman Group, as well as partners including Royale International, Action X Store, Watsons Water, Andros, Torq, Fitz, C3fit,, Bix Hydration, St Johns Ambulance, New Life Plastics, Action Asia Sports Academy and Ocean Recovery Alliance.

Overall – BIB – Name – Nationality – Team / Sponsor – Race Time

19 km – Overall Men’s Top 5
1 (256) Leung Son Keng – HKSAR – 1:37:10
2 (261) Boisseuil Pierre – HKSAR – Team Babs – 1:37:37
3 (238) Cho Yu Hin Jeffrey – HKSAR – The Peak Hunter – 1:41:55
4 (237) Quesnot Jean Joseph – France – 1:48:44
5 (147) Kelly Mark Arthur – Ireland – 1:49:18

19 km – Overall Women’s Top 5
1 (260) Hedou Sophie – HKSAR – Team Babs – 1:49:50
2 (251) Coady Olivia – HKSAR – 1:59:31

3 (257) Chan Joan – China – 2:03:00
4 (136) Gauthier Alison – US – Bali Trail Running – 2:13:32
5 (184) Yeow Sophie Shu-Ling – HKSAR – 2:14:30

13 km – Overall Men’s Top 5
1 (260) Hedou Sophie – HKSAR – Team Babs – 1:49:50
2 (251) Coady Olivia – HKSAR – 1:59:31
3 (257) Chan Joan – China – 2:03:00
4 (136) Gauthier Alison – US – Bali Trail Running – 2:13:32
5 (184) Yeow Sophie Shu-Ling – HKSAR – 2:14:30

13 km – Overall Women’s Top 5
1 (432) Davis Chris – UK – 1:03:56
2 (388) Connolly Creighton – Canada – Gone Runners – 1:10:02
3 (478) Ford Bolton – US – 1:12:35
4 (466) Deloy Patrick – HKSAR – 1:12:48
5 (456) Kinloch Christopher – UK – Repulse Rebels – 1:13:22

5 km – Overall Men’s Top 5
1 (879) Tsang, Silas, Pui Yeung – HKSAR – 28:59
2 (887) 陳, 泊言 – TSWMC – HKSAR – 29:00
3 (1045) Leclercq, Louis – CYU – France – 30:08
4 (1046) Leclercq, Cyril – CYU – France -30:12

5 (896) 梁, 禮謙 – TSWMC – HKSAR – 30:58

5 km – Overall Women’s Top 5
1 (805) Chan, Cwensuela Danielle Cheuk Lam Chan Clan – Australia – 33:37
2 (807) Chan, Charlotte Dakota Yi Lam – Chan Clan – Australia – 34:19
3 (1025) Champion, Jessie – the champs – France – 35:53
4 (812) Macapundag, Nurmie – Philippines – 37:42
5 (824) Li, Sheena – HKSAR – 38:06

Race Info

Event Name: Goodman Healthy Hike and Run 2024
Date: Sunday, March 10, 2024
Distance: 5 km, 13 km, 19 km
Start Time: 7:30 am (19 km) 7:40 am (13 km / 5 km)
Start Location: Tai Tong Shan Road BBQ area (500m above Po Leung Kuk), Tai Lam, NT, Hong Kong
Category: Hiking and trail running options
Course Information: https://www.actionasiaevents.com/our-events/2024-goodman-healthy-hike/

For more race details, please visit below:
www.actionasiaevents.com www.facebook.com/ActionAsiaEvent/
www.instagram.com/actionasiaevents/
www.youtube.com/user/ActionAsiaEvents

Hashtag: #ActionAsiaEvents

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

DHL Supply Chain to invest in a new warehouse facility in Senai Airport City, Southern Malaysia, to fulfill growing logistics demand

  • The new 10,000 square meters facility will meet growing demands in the automotive, technology, cloud business and data center sectors
  • Located in the Free Trade Zone of Johor’s Senai Airport City, the South Region Hub offers great connectivity to North-South Expressway and Senai International Airport

JOHOR, MALAYSIA – Media OutReach Newswire – 21 March 2024 – DHL Supply Chain, the global leader in contract logistics, announced the inauguration of its first warehouse in Southern Malaysia. The South Region Hub, a EUR 5.2 million investment, will add 10,000 square meters of warehouse space to DHL Supply Chain’s existing portfolio of 236,000 square meters in Malaysia. The construction of the facility will be undertaken by local developer, Eastern Group, and is expected to be ready by Q1 2025.

Groundbreaking ceremony of South Region Hub
Groundbreaking ceremony of South Region Hub

Strategically located in the Free Trade Zone of Senai Airport City, the South Region Hub is a mere 10 minutes away from the North-South Expressway and Senai International Airport, enabling faster delivery times. This also marks a strategic step to fulfill the soaring demand of warehousing from sectors including automotive, technology, cloud business and data center, as DHL Supply Chain grows its business presence in Southern Malaysia.

Mario Lorenz, Managing Director, DHL Supply Chain Malaysia said, “With the launch of the South Region Hub as our 24th facility in Malaysia, we are looking to elevate the standards of logistics in the Southern region and beyond. This investment reflects our confidence in Johor’s potential as an epicenter for regional distribution. Positioned at a prime location, our Hub will establish new benchmark in efficiency and sustainable logistics solutions.”

As part of DHL Supply Chain’s global sustainability commitment, the South Region Hub will be a carbon-neutral operation with facilities such as solar panels, smart LED lighting and rainwater harvesting solutions.

The launch of the South Region Hub forms part of DHL Supply Chain’s strategy to invest EUR350 million in Southeast Asia over the next four years, with EUR131 million allocated specifically for Malaysia. This investment will expand DHL Supply Chain’s warehousing capacity, workforce and sustainability initiatives in the country. Additionally, DHL Supply Chain is set to open three more facilities across Malaysia – two in Penang and one in the Central region.

Hashtag: #DHLSupplyChain

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.

Harnessing Innovation for Sustainable Water and Forest Management in Asia-Pacific

Harnessing Innovation for Sustainable Water and Forest Management in Asia-Pacific
(photo: NEPL NP)

By Jong-Jin Kim, Assistant Director-General and Regional Representative, Food and Agriculture Organization of the United Nations