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Ingdan Announces 2023 Annual Results


Highlights of the Annual Results for the Year Ended December 31, 2023:

  • The growing market demand for AI chips has led to a continuous rise in AI chip orders for Comtech, resulting in a total revenue of RMB8,863.4 million during the Year.
  • In 2023, the gross profit amounted to approximately RMB1,029.9 million, with the net profit of approximately RMB319.9 million, and a profit attributable to equity shareholders of the Company of approximately RMB210.7 million.
  • Ingdan focuses on new energy smart batteries, which will drive the development of the “Ingdan Cloud” big data service.

HONG KONG SAR – Media OutReach Newswire – 28 March 2024 – Ingdan, Inc. (“Ingdan, Inc.” or the “Company”, stock code: 400.HK; with its subsidiaries (the “Group”)), a technology services company serving the global chip industry and artificial intelligence (“AI”) and Internet of Things (“IoT”, together “AIoT”) ecosystem, with its core businesses “Comtech” and “Ingdan”, announces its audited consolidated results for the year ended December 31, 2023 (“2023” or the “Year”).

Financial Highlights for the Full Year of 2023

During the Year, the rapid innovation of artificial intelligence (“AI”) has driven the digitalization of various industries, resulting in an increase in demand for AI chips. Accordingly, the demand for the Group’s AI chips has increased. However, as affected by supply shortage of AI chips and coupled with the slowdown in the growth of demand for chips in industries such as consumer electronics, the overall sales dropped. [1]According to data from the Semiconductor Industry Association (SIA), in 2023, semiconductor industry sales decreased 14.0% in China, and 8.2% globally, as compared to 2022. Meanwhile, the market demand for chips has returned from shortage to normal industry level towards the end of 2023. Despite this challenging environment, the Group’s revenue declined during the Year but still relatively outperformed the market.

During the Year, the Group recorded total revenue of RMB8,863.4 million, a year-on-year decrease of 7.0%; gross profit was RMB1,029.9 million, a year-on-year decrease of 7.5%; profit from operations was RMB465.4 million, a year-on-year decrease of 13.0%; net profit was RMB319.9 million, a year-on-year decrease of 29.3%; profit attributable to equity shareholders of the Company was RMB210.7 million, a year-on-year decrease of 33.0%. As of December 31, 2023, the Company’s cash and bank balances (including pledged deposits) totaled RMB725.5 million, bank loans were RMB1,597.4 million, and the inventory value was RMB4,506.1 million; the number of basic ordinary shares issued by the Group was 1,394,262,732, and the weighted average number of ordinary shares of diluted earnings per share was 1,371,028,000.

Global AI Chip Market Continues to Grow, Comtech Benefiting from Steady Demand

In 2023, the popularity of Generative AI such as ChatGPT has once again driven the AI boom. The thriving AI market trend in China has driven the growth in demand for AI orders for Comtech. However, due to the impact of supply shortage, the inventory of AI chips was insufficient to fulfill the number of orders. While the delay of deliveries in the first half of the Year had been resolved in the second half, the overall annual sales volume was affected. [2]According to the report from the International Data Corporation (“IDC”), the global semiconductor industry is expected to rebound due to increased inventory rationalization, visibility in the channel, and increasing demand pull from AI server and end point device manufacturers. The outlook for the global chip market has been revised from “Trough” to “Sustainable Growth”, and IDC estimated that global semiconductor sales will achieve a year-on-year growth of 20.2% to US$632.8 billion in 2024. As a technology service platform for the chip industry, Comtech focuses on the application, design, and distribution of IC chips. It covers over 50% of global major high-end chip suppliers and many leading domestic chip makers upstream, as well as tens of thousands of enterprises in five major fields downstream, including smart vehicles, digital infrastructure, industrial interconnection, energy control and big consumption. With the gradual recovery of the domestic economy, the continuous development of the technology industry, and favourable national policies, the outlook for China’s semiconductor industry is optimistic, as it meets the increasing demand for chips and brings more growth momentum to the chip business.

Comtech continued to actively push for the development of chips applications during the Year, and has achieved technological breakthroughs in cutting-edge technological features in the industries of artificial intelligence-generated content (”AIGC”), logistics robots and electronic rearview mirrors for smart vehicles, empowering a number of China’s innovative enterprises, so as to prepare for capitalizing on future market recovery.

  • Comtech has laid out plans in the field of AIGC, vigorously expanded the chips application scenarios and opportunities, and successfully deployed NVIDIA products in a prominent Data Centre in Baoding city, with hosting capacity of 360,000 AI servers, to support the goal of building a demonstration city in the era of artificial intelligence.
  • Comtech actively explored the application fields of mobile robot chips, supported the chip application and design resolution of innovative industries, successfully deployed STMicroelectronics products to warehousing robots, and provided technical training to help the logistics industry break through industry barriers.
  • The smart vehicle market also saw the opening of new opportunities with the electronic rearview mirror industry. Comtech and AMD-XLINX jointly launched the “Smart Vehicle Vision Development Package” to realize various advantages such as self-adaption, low latency, scalability, and customization—to meet the future expansion needs of smart vehicles for cross-domain integration capabilities.

New Energy Industry Structural Upgrading, Ingdan Leads in Battery Cloud Services

Ingdan focuses on the new energy industry and is committed to developing the industry for two-wheeler battery replacement and re-utilization. By building a reliable asset management platform for traceable lithium battery life-cycle data, it provides customized solutions for two-wheeler battery replacement, power re-utilization and energy storage, etc. Ingdan’s proprietary platform for smart battery management monitors real-time battery status, effectively improves battery usage efficiency and cycle, realizing the smart management of the whole battery life cycle from production calibration, safe operation, asset management, efficiency management to recycling tracking, etc.

[3]According to analysis by CICC Qixin International Consulting, the penetration rate of battery swapping for electric two-wheelers in China was 22.5% in 2022. With the successive implementation of mandatory policies such as the ”No Indoor Charging Policy” in various regions, coupled with the rapid development of the domestic instant delivery market, and the continuous improvement of battery swapping facilities, the penetration rate of battery swapping services continues to rise. The market for battery swapping services for electric two-wheelers in China is expected to experience rapid development. The report predicts that from 2022 to 2026, the market size of battery-swapping services for electric two-wheelers in China will increase from RMB4.24 billion to RMB20.5 billion, and the penetration rate of the swapping market will reach 54.1% by 2026. In line with China’s ”double carbon” national goal of reaching carbon peak in 2030 and realizing carbon neutrality in 2060, the upgrade of the energy industry structure is expected to bring about rapid changes in the industry layout. Ingdan strategically focuses on the two-wheeler battery cloud services, aiming at the new market trend of battery cloud in order to seize the RMB100 billion ”blue ocean” market opportunity, which would enable the Group to sustain profitability while contributing to the advocacy of the product standardization of China’s two-wheeler battery replacement industry, and support the realization of the national ”double carbon” goal.

Outlook

Mr. Jeffrey Kang, CEO of Ingdan, Inc., said, “With the rapid development of AI and its applications expanding to various industries, the Group remains an optimistic outlook on business growth and development prospects this year. The PRC government’s work report for this year also emphasizes the crucial direction of deepening the research and development and application of big data and AI, vigorously launching the “AI+” initiative, and actively driving the digital transformation of the manufacturing industry. Comtech will actively participate in the establishment of national standards in the digital transformation and chip applications sectors. Leveraging its technological research and development capabilities and industry expertise, the Group aims to further enhance its influence and competitiveness while fostering healthy competition and industry development.

Looking ahead, we will continue to focus on the AI industry chain and strengthen the business deployment of “Comtech” and “Ingdan”, aiming to build the ”AIoT chip-device-cloud” closed loop of the smart hardware industry. At the same time, we will continue to plough into the field of new energy smart batteries, drive the development of the big data platform “Ingdan Cloud”, actively seize the opportunities brought by the transformation of the digital economy, while supporting the national standards for digital transformation, and driving the Group towards becoming a big data enterprise, so as to continuously inject momentum into the Group’s growth.”

Caution Statement

The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made by the Company or any of its affiliates, advisers or representatives as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions presented or contained herein. The information contained in this document should be considered in the context of the circumstances prevailing at the time, is subject to change without notice and the Company makes no undertaking to update the information in this document to reflect any developments that occur after the date of the presentation. It is not the Company’s intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company, or its financial or trading position or prospects. Neither of the Company nor any of its affiliates, advisers or representatives accept any responsibility or have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document.

This document may contain statements that reflect the Company’s current intent, beliefs, and expectations about the future as of the respective dates indicated herein. These forward-looking statements do not guarantee of future performance and are based on a number of assumptions about the Company’s operations and factors beyond the Company’s control and are subject to significant risks and uncertainties, and accordingly, actual results may differ materially from those described in these forward-looking statements. Neither the Company nor any of its affiliates, advisers or representatives has any obligation, nor do they undertake, to update these forward-looking statements for any events or developments including the occurrence of unanticipated events that occur subsequent to such dates.


[1] Global Semiconductor Sales Decrease 8.2% in 2023; Market Rebounds Late in Year

https://www.semiconductors.org/global-semiconductor-sales-decrease-8-2-in-2023-market-rebounds-late-in-year/

[2] Worldwide Semiconductor Market Outlook Upgraded to GROWTH from TROUGH: Semiconductor Market to Grow 20.2% in 2024 to $633 Billion, According to IDC
https://www.idc.com/getdoc.jsp?containerId=prUS51383823

[3] 2023年中國電動兩輪車換電行業市場規模現狀分析及「十四五」產業發展趨勢研究預測
https://www.gtdcbgw.com/index/show/catid/94/id/8472.html

Hashtag: #Ingdan

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

About Ingdan, Inc.

Ingdan, Inc. (stock code: 400.HK) is a technology services company serving the global chip industry and artificial intelligence and Internet of Things (“AIoT”) ecosystem, is headquartered in Shenzhen, with offices and branches across major cities in China, including Hong Kong, Shanghai, Beijing, Wuhan, Chengdu, Nanjing, Hangzhou, and Xi’an, as well as overseas branches in Singapore, Israel, and Japan. The Group’s business is divided into “Comtech”, a technology services platform for the chip industry, and “Ingdan”, a platform providing AIoT technology and services. The Group serves the “Chips-Devices-Cloud” ecosystem along the AIoT industrial chain, and provides customers with technical integration solutions, marketing solutions, and distribution services.

For further information, please refer to the Company’s website at

First-Ever Fortune Innovation Forum Draws Top Global Leaders to Hong Kong, Promoting Agendas On Collective Cross-Sector Advancement


Fortune celebrates 30 Asian companies with future growth potential from its inaugural Asia Future 30 List

With over 70 international speakers and over 400 participants, the Fortune Innovation Forum created fertile ground for discussion on new strategies for growth in APAC and beyond

HONG KONG SAR – Media OutReach Newswire – 28 March 2024 – Fortune Innovation Forum 2024 made waves in Hong Kong as leaders from around the world joined the two-day conference on 27-28 March and shared insights on advancements in AI, technology, sustainability, finance, talent recruitment, and more. The event facilitated key discussions in which experts, investors, and leaders of the world’s largest companies reflected on how businesses and economies are evolving to meet the demands of an ever-changing global environment.

The forum’s first day kicked off with a Fortune Most Powerful Women breakfast session featuring Bonnie Y Chan, the first female CEO of Hong Kong Exchanges and Clearing Limited (HKEX), Kathryn McLay, President and CEO of Walmart International, Joey Wat, CEO of Yum China, and Jane Sun, CEO of Trip.com. In a panel discussion, the four CEOs shared actionable steps to close the gender gap. Bonnie Chan talked about HKEX’s role as a regulator and its effort to rid the Hong Kong stock exchange of single-gender boards, which have dropped in number from 800 in 2021 to fewer than 500 in 2024.

Mr. Paul Chan, Financial Secretary, Government of the Hong Kong Special Administrative Region, officially opened the Forum by discussing how the city is aiming to establish an equitable environment for growth and innovation. He disputed the idea that Hong Kong is ‘over’ and identified key industries with robust, innovative potential: “We chose four areas to concentrate our energy: artificial intelligence and big data analytics, health science and health tech, fintech, and new materials advanced manufacturing.”

The global economy continues to prove surprisingly resilient, and few economies are defying expectations as much as Japan. Tokiko Shimizu, Assistant Governor, Bank of Japan, offered an insider’s look at Japan’s recovery as it ends its negative interest rate era. Ms. Shimizu said Japan “still expect[s] that the price movement in coming years will be around 2%, which means we don’t see any interest rate hike necessarily.” “We are predicting that our GDP growth will be around 1.5% over the coming years,” she said.

Innovation and advances in AI are transforming how companies engage with the global consumer, and the world’s largest retailer is working to harness all that potential. “We are in this amazing age where we can know our customers in aggregate and we can know them individually,” said Kathryn McLay, President and CEO of Walmart International. “The only way you can do that is through data and tech…I think customers can expect a more delightful experience in retail.”

Even with AI going mainstream, there are ways to further promote the technology. Scott Beaumont, President, Asia Pacific, Google, outlined four areas of focus: AI accessibility, productive use of AI, cross-industry understanding of use cases, and governments’ creation of usage guidelines. Kai-Fu Lee, Chairman and Chief Executive Officer, Sinovation Ventures, Founder of 01.AI, urged the audience to regard AI as it would a powerful workplace or educational assistant that can boost productivity and lead to improved outcomes. “We need to encourage people to harness AI and use all the tools so that they can be the best that they can be,” said Mr. Lee.

Former U.S. Treasury Secretary Lawrence Summers opened the second day of the forum, speaking to the audience virtually about trade, growth, and technology. He shared his optimism about China’s advancements. “Over a human lifespan in England in the 19th century, living standards rose by a factor of perhaps one and a half, whereas in a human lifespan in China, living standards are likely to have risen by a factor of 50 or more, which is truly the greatest achievement in the economic history of mankind,” he said.

The forum convened the top minds in innovation—from biotech to AI to cryptocurrency—to create an atmosphere that fostered collaboration and planted seeds for further breakthroughs.

Fortune Asia Future 30 Awards Celebrates Regional Companies With the Highest Potential for Future Growth

At the Asia Future 30 Award Ceremony, Fortune honored companies that landed on its inaugural Asia Future 30 list, which recognizes firms that display potential for future growth across industries.

Fortune Asia Future 30 Awardees

China
Company Headquarters Industry
Alibaba Health Information Technology Hong Kong Consumer Staples Distribution and Retail
Beijing Kingsoft Office Software Beijing Software
Wantai Biological Pharmacy Enterprise Beijing Biotechnology
BYD Shenzhen Automobiles
Contemporary Amperex Technology Ningde Electrical Equipment
EVE Energy Huizhou Industrials
Hangzhou First Applied Material Hangzhou Semiconductors
Hundsun Technologies Hangzhou Software
Imeik Technology Development Beijing Biotechnology
Inovance Technology Shenzhen Machinery
JA Solar Technology Beijing Semiconductors
JD Health International Beijing Consumer Staples Distribution and Retail
Jiangsu Hengli Hydraulic Changzhou Industrial Machinery and Equipment
Li Auto Beijing Automobiles
Meituan Beijing Hotels, Restaurants and Leisure
NIO Shanghai Automobiles
Sungrow Power Hefei Electrical Equipment
Suzhou Maxwell Technologies Suzhou Electrical Equipment
Trip.com Group Shanghai Hotels, Restaurants and Leisure
WuXi AppTec Shanghai Life Sciences Tools and Services

Fortune Asia Future 30 Awardees

Asia Pacific (outside China)
Avenue Supermarts Mumbai, India Retail and Wholesale
Celltrion Incheon, South Korea Biotechnology
Delta Electronics (Thailand) Thailand Electronic Components
Kakao Jeju-si, South Korea Interactive Media and Services
Lasertec Yokohama, Japan Semiconductors
LTIMindtree Mumbai, India IT Services
M3 Tokyo, Japan Health Care Technology
NAVER Seongnam-si,

South Korea

Interactive Media and

Services

POSCO Future M Pohang, South

Korea

Materials
WiseTech Global Sydney, Australia Software

Hashtag: #Fortune

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

About Fortune

Fortune upholds a legacy of award-winning writing and trusted reporting for executives who want to improve business. Independently owned, with a global perspective and digital agility, Fortune tells the stories of a new generation of innovators, builders, and risk-takers. Online and in print, Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable. Fortune creates communities by convening true thought leaders and iconoclasts – those who shape industry, commerce and society – through powerful and prestigious lists, events and conferences, such as the iconic Fortune 500, the and Most Powerful Women. For more information, visit .

TUMI Hosts Global Launch Event in Singapore to Unveil Women’s Asra Collection and Announce Global Ambassador, Mun Ka Young

The partnership with the esteemed South Korean actress was officially announced during an exclusive launch event attended by Asia-Pacific celebrities, VIPs, and media.


HONG KONG SAR – Media OutReach Newswire – 28 March 2024 – TUMI, the leading international travel and lifestyle brand, celebrated a new milestone yesterday with the introduction of its newest global ambassador, esteemed South Korean actress Mun Ka Young. Mun attended the exclusive event held in Singapore on March 27th to commemorate the launch of TUMI’s newest women’s handbag collection, Asra, and her first-ever campaign with the brand.

Mun Ka Young and TUMI Creative Director Victor Sanz at the “Discovering Asra” event
Mun Ka Young and TUMI Creative Director Victor Sanz at the “Discovering Asra” event

Over 200 of the region’s leading influencers, celebrities, and VIPs including Hong Kong singer and actress Charlene Choi, Indonesian singer Isyana Sarasvati, Filipina actresses Gabbi Garcia and Sarah Lahbati, Vietnamese actress Diem My, Thai actor Dunk Natachai Boonprasert and actress Love Pattranite, Taiwanese actress Tzeng Chih Chiao, Malaysian model and actress Scha Al-Yahya and actress Koe Yeet, Singapore’s Carrie Wong and Desmond Tan, and Indian entrepreneur Diipa Büller-Khosla, attended the “Discovering Asra” event. Joining them for a dazzling VIP dinner and party were TUMI global executives including Andrew Dawson, President; Victor Sanz, Creative Director; Jill Krizelman, SVP Global Marketing & eCommerce; and Aris Maroulis, VP for Asia-Pacific & Middle East. Singapore was chosen for the launch as the destination that inspired TUMI’s Spring 2024 collection and palette.

Mun Ka Young wears the Asra Small Crossbody in Moonlight
Mun Ka Young wears the Asra Small Crossbody in Moonlight

The Asra collection is the latest addition to TUMI’s evolving women’s category, designed for the effortlessly stylish and on-the-go modern woman. It includes three sizes and four compelling colors – TUMI’s core Black and seasonal colors Moonlight, Cameo Rose, and Purple Sunset. Each Asra bag features pleating with a soft structure, coordinating hardware, and a knotted shoulder strap for added visual and textural interest. Additional touches include an exterior microfiber-lined pocket, perfect for a phone or pair of sunglasses, and a leather monogram charm (sold separately) to add TUMI’s signature personalization.

The “Discovering Asra” evening unfolded through a series of surprises, taking guests on an intimate journey to discover the modern allure of Asra. The experience began with a sunset cruise aboard two luxurious TUMI-branded yachts that brought guests to Sentosa. Upon arrival, guests were whisked away to the VIP dinner venue located at Sentosa Golf Club. The venue, which had been transformed into the elegant “Sentosa Pavilion,” celebrated the effortless style embodied by Mun and the design language and colors of Asra, including the vibrant Purple Sunset colorway inspired by the beautiful landscapes of Sentosa Island.

Upon entering, guests encountered a rotating showcase featuring a variety of Asra silhouettes framed by a backdrop of soft, curved flower and silk-adorned arches inspired by the bag’s design. Next, they were led into the “Marble Room”, an architectural delight that paid homage to the Asra campaign and featured a floating Asra display in striking Cameo Rose. Guests then walked through the mesmerizing “Asra Alley”, with the collection displayed against a captivating video projection by visual artist Markus Kanzler. Arriving in the dining room, guests took their seats at long tables positioned around the edge of the room. LED panels along the walls served as a canvas for the evening’s expansive storytelling, celebrating the partnership between TUMI and Mun.

Celebrity guests from across Asia-Pacific enjoyed the festivities at
Celebrity guests from across Asia-Pacific enjoyed the festivities at “Discovering Asra”

After Sanz’s official introduction of Mun, guests were treated to a bespoke menu conceptualized by renowned Art Director, Loic Serot in collaboration with Chef Bjoern Alexander, formerly of two-Michelin-starred restaurant Octavium. Inspired by Mun, each of the five courses zoomed in on a defining moment in her life – from her culturally diverse heritage as a Korean woman born in Germany to her musical talent, starring roles and appointment as TUMI’s newest ambassador. Visual projections and a live musical performance accompanied the dinner. The festivities continued under the stars with the “Discovering Asra” party complete with dazzling digital fireworks, a performance by South Korean DJ Siena, cocktails by Singapore’s Nutmeg & Clove, and an edible dessert wall by Singaporean chef Janice Wong.

The new Asra collection is available now at TUMI stores worldwide and TUMI.com.

Hashtag: #TUMI

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

About TUMI

Since 1975, TUMI has been creating world-class business, travel and performance luxury essentials, designed to upgrade, uncomplicate and beautify all aspects of life on the move. Blending flawless functionality with a spirit of ingenuity, we’re committed to empowering journeys as a lifelong partner to movers and makers in pursuit of their passions.

For more about TUMI, visit . TUMI and TUMI logo are registered trademarks of Tumi, Inc. © 2024 Tumi, Inc.

Samsung Partners National Heritage Board to Bring a Slice of Singapore’s Cultural Heritage to Samsung The Frame TV


SINGAPORE – Media OutReach Newswire – 28 March 2024 – Samsung Singapore today announced in partnership with the National Heritage Board (NHB), that Samsung Art Store will see the addition of 10 artworks from Singapore’s National Collection. Art and heritage lovers will be offered the opportunity to enjoy a curated collection that showcase the changes in Singapore’s physical and urban landscape through the years, and selected master works of Asian painting traditions.

These art pieces join over 2,500 artworks from world-renowned museums and galleries, including Louvre Museum, The Met, the Van Gogh Museum, the National Gallery Singapore, and many others. With the Frame TV’s matte display feature, the texture of the on-screen display provides a realistic art experience that turns art into a showpiece, bringing art galleries into your home.

The collection for Samsung Art Store is jointly curated by Samsung and NHB. The 10 artworks were selected as they are representative of the National Collection, which serves to connect the past, present, and future generations of Singaporeans, and deemed best to be displayed on a 4K display screen like the Frame TV.

The collection includes ‘The Esplanade from Scandal Point‘, a painting by John Turnbull Thomson which depicts our National Monument the Padang as a centre of social life as far back as the 19th century, and ‘View of Read Bridge at Clarke Quay‘, a work by pioneer water-colourist Lim Cheng Hoe featuring the iconic Singapore River. Other notable historical works include ‘View of Raffles Place’ and ‘View from Government Hill’ – depicting Singapore in its early days – and ‘Bird on Fence’.

Ms Chang Hwee Nee, Chief Executive Officer, NHB, said: “Our National Collection tells the story of Singapore’s past and present, for our future. As the custodian of Singapore’s heritage, NHB aims to raise a greater awareness of, and deepen appreciation for, these national treasures. Our collaboration with Samsung introduces a new and additional touchpoint for Singaporeans to enjoy the National Collection through its Frame TVs. It is akin to having these beautiful masterpieces digitally displayed in our homes, which will hopefully inspire more to visit our museums to see them in real life.”

Dennis Jang, President, Samsung Singapore said: “We believe that art should not only inspire, but also inform and educate. With the introduction of the National Collection in the Art Store, our users will be able to appreciate art, and learn more about the history of Singapore. Such collaboration truly shows how technology can bring art and history to more individuals, and the significant role our Art Store plays to bring such monumental pieces to the homes of future generations.”

Samsung and NHB plan to explore expanding the collection in the Art Store, to create greater awareness of other artworks in the National Collection.

Bespoke Lifestyle Products that Elevate Every Lifestyle

This year, The Frame TV’s new Art Stream feature gives users a taste of the Art Store’s diverse collection by providing them with 20 free hand-selected artworks each month. The Art Mode also features thoughtful enhancements, including Pantone Validated™ certification where colour accuracy is ensured with artworks displayed. In addition, users can be ensured of lower energy usage with Art Mode as the picture frequency in 2024 Frame TV is reduced from 120Hz to 60Hz when the mode is active, resulting in 10% energy savings[1].

KV

The Frame TV features Pantone Validated™ certification where colour accuracy is ensured with artworks displayed.

For those who want an audio solution that complements The Frame, the new Music Frame seamlessly blends into the environment as a modern picture frame, allowing users to customisation options with their favourite photos, while serving as a sound device. When paired with Samsung 2024 TVs, the Music Frame users can play sound from both the TV and sound device – a unique feature called Q-Symphony. As a standalone speaker, the Music Frame pairs via Bluetooth with other devices such as a mobile phone.

Image 1

The Music Frame also comes with special limited-edition Disney-themed designs.

In a collaboration with Disney, the Frame TV and Music Frame will have 4 special Disney-themed designs for the Frame bezel and Music Frame panel. This limited-edition bundle is available for purchase at the Samsung Online Store, Samsung Shop App, and major consumer electronics retailers.

For more information about the 2024 TV and sound systems line-up, please visit www.samsung.com/sg.


[1] This feature applies to the 55” display and above.

Hashtag: #Samsung

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

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at

About the National Heritage Board

The National Heritage Board (NHB) was formed on 1 August 1993. As the custodian of Singapore’s heritage, NHB is responsible for telling the Singapore story, sharing the Singaporean experience and imparting our Singapore spirit.

NHB’s mission is to preserve and celebrate the shared heritage of our diverse communities, for the purpose of education, nation-building and cultural understanding. It manages the national museums and heritage institutions, safeguards and promotes intangible cultural heritage, and sets policies relating to heritage sites, monuments and the national collection. Through the national collection, NHB curates heritage programmes and presents exhibitions to connect the past, present and future generations of Singaporeans. NHB is a statutory board under the Ministry of Culture, Community and Youth. Please visit for more information.

Samsung Electronics Launches 2024 Neo QLED 8K, Neo QLED, and OLED Displays to Spark the AI Screen Era

New lineup of TVs and sound devices delivers premium visual and audio experiences supported by AI innovation for an unrivalled home entertainment experience.


SINGAPORE – Media OutReach Newswire – 28 March 2024 – Samsung Electronics Singapore today unveiled its 2024 lineup of Neo QLED 8K, Neo QLED and OLED TVs, as well as their latest sound systems at its Unbox & Discover 2024 Singapore launch held at the iconic Jewel Changi; the event will also be opened to the public on 29 and 30 March, where visitors can experience a new era of AI TVs, as well as partake in exciting activities.

KV

This year’s lineup kicks off the AI screen era through the introduction of a next-generation AI processor poised to redefine the perception of smart display capabilities. In addition to bringing improved picture and sound quality, the new lineups provide consumers with AI-powered features focusing on inspiring and empowering individual lifestyles.

“We are entering a new era of AI, with the technology bringing great potential to improve and add value to our daily lives in both simple and useful ways,” said Steven Koh, Senior Director, Consumer Electronics Business (TV/AV), Samsung Electronics Singapore. “We are excited to wow our consumers with our most cutting-edge TVs, now enhanced with AI, which will not only deliver amazing visual and audio quality for consumers to better enjoy the content that they all love but will also be the ideal centrepiece in consumers’ homes, connecting all compatible devices to offer users a smart and seamless living experience.”

Expect More Wow with Samsung’s New 2024 AI TV Line-up

Image 1

The QN900D Neo QLED 8K TV and Q990D soundbar delivers exception audio and visual quality enhanced by AI.

This year, Samsung is introducing AI technologies to its TV line-up to deliver elevated enhancements for consumers’ home entertainment setups.

Samsung’s newest Neo QLED 8K and 4K TV lineup are equipped with technology that deliver lifelike picture quality and premium audio experiences. The 2024 Neo QLED 8K range, with the QN900D sitting at the top, features Samsung’s latest and most innovative TV processor yet: NQ8 AI Gen3, which has a neural processing unit (NPU) that delivers unprecedented performance upgrades by utilizing 512 neural networks, versus 64 neural networks on last year’s flagship model.

The Neo QLED lineup brings a suite of picture quality and design enhancing features, including 8K AI Upscaling Pro[1], which leverages NQ8 AI Gen3 for enhanced 8K upscaling, sharpening low resolution content so that it is displayed in ultra-high resolution. AI Motion Enhancer Pro solves common issues in fast-paced sporting contents — such as ball distortion — by streaming high-resolution sports matches through this feature[2] powered by NQ8 AI Gen3. The feature automatically detects the sport type and uses deep learning to properly detect the type of ball and enhances the visual accordingly. For consumers who like watching high-adrenaline action content, Real Depth Enhancer Pro adds details to fast-moving scenes with the help of AI to precisely control mini-LEDs by detecting the part of a scene that the human eye would naturally focus on, bringing it to the foreground. This way, images are more lifelike as there is more depth to the onscreen content. Infinity Air Design complements Neo QLED 8K’s impeccable picture quality with a screen only 12.9mm in depth[3], allowing for an immersive viewing experience that focuses on high resolution and outstanding sound quality. It also offers a unique mirror effect in which the TV appears to hover in its surroundings.

At the same time, the Neo QLED 8K lineup offers exceptional audio quality, with Q-Symphony allowing users to connect multiple wireless speakers and a soundbar to a TV or projector for perfect audio synchronization across shows, movies, and playlists[4]. Users can also take advantage of Active Voice Amplifier Pro, a proprietary AI dialogue booster that utilises exclusive deep-learning technology to significantly enhance dialogue and voices on screen.

Image 2

Samsung’s S95D OLED TV delivers exceptional visual quality with AI-enhanced colour accuracy.

Samsung’s 2024 OLED TVs build on the legacy of last year’s models, with the S95D offering sizes of up to 77-inches for high-detail, a high-frame rate, and intensely vibrant video. New OLED Glare Free’ technology[5] — specifically designed for 2024 OLED screens — preserves colour accuracy and reduces reflections while maintaining image sharpness to ensure an immersive viewing experience, even in daylight. The OLED-optimised, low-reflection coating overcomes the trade-off between gloss and reflection thanks to a new, specialised hard-coating layer and surface coating pattern.

In addition, the display is 20% brighter than previous models, with deep and rich blacks and AI-enhanced colour accuracy so pure that it is Pantone Validated™. In addition to being Samsung’s brightest OLED screen yet, it also features high refresh rates of up to 144Hz for more seamless motion and crystal-clear action on their screens. Samsung also offers the more wallet friendly S90D series, which will be available in various sizes, from 48″ to 83”.

To complete your home entertainment audio experience, the new flagship Q Series (HW-Q990D) soundbar delivers an 11.1.4-channel sound experience with True Dolby Atmos sound at 4K 120Hz, tapping on AI to optimise sound for the perfect experience, whatever your preferred content.

Unbox & Discover at Jewel Changi

On 29 and 30 March 2024, consumers can visit the Unbox & Discover event held at Jewel Changi Cloud9 Piazza (located at level 5) to experience the new TV and sound systems lineup.

During the two-day event, visitors can learn more about the new products and how they are the ideal complement for today’s home entertainment experiences through daily product experience tours. Visitors can redeem cool gifts such as tote bags which comes printed with local artworks from National Gallery Singapore.

To raise awareness towards sustainability, Samsung Singapore is working in partnership with the National Environment Agency to collect used batteries. In exchange for at least 4 batteries[6], visitors can receive a foldable reusable bag, limited to 1 redemption per person. The event hopes to break Singapore’s record for the most batteries collected as a way to encourage and inspire like-minded individuals to practise sustainability in their day-to-day lifestyle.

Preorder Promotions

Customers who pre-order a Samsung AI-powered TV can enjoy gifts worth up to $3,933, until 11 April 2024[7].

Model Size Pre-order Offer
Samsung Neo QLED 8K 75″, 85″ Mystery gift + Freestyle 2nd Gen (worth $1,513)
65″ Mystery gift
Samsung Neo QLED 4K 75″, 85″ Mystery gift + Freestyle 2nd Gen (worth $1,513)
55″, 65″ Mystery gift + Nintendo Switch (worth $399)
43″, 50″ Slimfit Cam (worth $202)
Samsung OLED 4K 77″ Mystery gift + Freestyle 2nd Gen (worth $1,513)
55″, 65″ Mystery gift + Nintendo Switch (worth $399)

For more information about the 2024 TV and sound systems line-up, please visit www.samsung.com/sg.

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at news.samsung.com.


[1] QN900D only. 8K AI Upscaling for other models.

[2] Viewing experience may vary according to types of content and format. Upscaling may not apply to PC connection and Game Mode.

[3] 12.9mm in depth only applies to 65″ QN900D.

[4] Q-Symphony is compatible with select Samsung TVs. Requires HDMI, Optical or Wi-Fi connection to TV.

[5] UL’s verification validates the ‘OLED Glare Free’ claim by assessing the products against Unified Glare Rating (UGR) testing standard set by the International Commission on Illumination (CIE) and testing standard set by the International Organization for Standardization.

[6] Accepted batteries include AA, AAA, AAAA, D, C, N, 9-volt, Button cell. No power bank, laptop battery & mobile telephone battery.

[7] While stocks last. Terms & conditions apply.

Hashtag: #Samsung

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

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at .

DrGo launches DrGo Me+ Ready Pack portable nutritional supplement pack

Creating a convenient nutritional supplement experience for urban dwellers with specific health goals


HONG KONG SAR – Media OutReach Newswire – 28 March 2024 – HKT (SEHK: 6823) – DrGo, HKT’s one-stop telemedicine platform, announced the launch of DrGo Me+ Ready Pack, a new portable nutritional supplement pack that allows users to easily obtain professionally designed and recommended nutritional supplements.

DrGo Me+ Ready Pack

Professional, efficient nutritional supplement pack to help relieve urban stress

The DrGo Me+ Ready Pack series includes the Stress Relief Pack, Women’s Essential Pack and Liver Detox Pack (coming soon), all designed and recommended by a Hong Kong nutritionist for specific health goals1. Each box of Ready Pack contains 30 individually packaged nutritional supplement packs, each containing four different nutritional supplements recommended by the nutritionist, and comes with delivery service2. Users can simply consume one small pack per day to easily meet their daily nutritional supplement needs, sparing them from the hassle of storing and carrying multiple bottles of different nutritional supplements.

DrGo Me+ Ready Pack Suitable users & benefits Included supplements
Stress Relief Pack
  • Suitable for individuals with busy lifestyles and difficulties concentrating and relaxing
  • Helps relieve stress, reduce fatigue and enhance memory
  • Resveratrol
  • Acetyl L-Carnitine
  • Turmeric with Black Pepper
  • Zinc
Women’s Essential Pack
  • Specifically designed for women looking to strengthen their body and increase vitality
  • Helps restore energy, boost blood circulation and skin health, improve sleep quality and relieve stress
  • Iron
  • Vitamin C with Rose Hips
  • Astaxanthin
  • Resveratrol
Liver Detox Pack

(coming soon)

  • Suitable for individuals who smoke or drink excessively with irregular mealtime and a busy social calendar
  • Enhances liver detoxification and intestinal excretion, boosts metabolism and improves digestion and nutrient absorption
  • Vitamin B Complex
  • Vitamin C with Rose Hips
  • Turmeric with Black Pepper
  • Probiotics

DrGo Me+ nutritional supplements have GMP quality assurance3, undergo strict quality control and expert inspection, and are tested for purity and efficacy by third-party laboratories4. The packaging process complies with the ISO22000 international food safety management system standard5, ensuring the safety of the supplements and providing peace of mind for users.

Teresa Ng, Chief Commercial Officer, DrGo said, “The newly launched portable nutritional supplement pack, DrGo Me+ Ready Pack, further enriches DrGo’s product offerings and enhances its ability to reach a wider customer base and increase user adoption on the platform. We will continue to dedicate ourselves to innovative services and products with the goal of meeting users’ diverse needs for a healthy lifestyle through a unified platform. This will foster greater user loyalty and create more opportunities for cross-selling.”

Two flexible and convenient purchase options

Catering to the diverse needs of users, the Ready Pack offers two purchasing options: a One-time Solution containing 30 packs and an automatic recurring subscription plan spanning 1 month or 3 months6, ensuring that users’ health regimen will not be interrupted.

From now until 30 June 2024, DrGo Me+ Ready Pack is offering a promotional price for One-time Solution at HK$299 per box (listed price: HK$336), and customers will enjoy an additional 10% or 25% off when purchasing 1-Month or 3-Month Solution with the discount code “NEWBIE” or “NEWBIEME” respectively7.

To experience the DrGo Me+ Ready Pack, please visit DrGo website at

https://www.drgohealthstore.com.hk/meplus-supplement/8.

To register with DrGo, please download the DrGo app at

https://drgohkt.page.link/download_app. For more details, please call DrGo’s service hotline at +852 2380 2323 or visit DrGo’s website at

https://www.drgo.com.hk/index_en.html.

Notes:

1. Supplements in the Ready Packs series were designed and recommended by nutritionist Mandy Wong.

2. Delivery service is limited to designated local locations. For details, please see DrGo Me+ website or DrGo app for the “DrGo Me+ Delivery Policy”.

3. The information is provided by the manufacturer of the supplements.

4. The information is provided and endorsed by the Testing Centre.

5. The information is provided by the packaging company.

6. Under such subscription plan, customers will be subject to automatic successive renewals of their 1-Month or 3-Month Solution every 30 days (for 1-Month Solution) or every 90 days (for 3-Month Solution) at the prevailing price at the time of the renewal for the relevant Solution as indicated on the DrGo Me+ website or DrGo app, unless the customer has validly terminated the subscription.

7. Promotion will end on 30 June 2024. Customer may enter the designated coupon code in “Apply Coupon Code” column at checkout to enjoy this offer. The offer is subject to relevant terms and conditions. For details, please see DrGo Me+ website or DrGo app.

8. All information, recommendation and statements provided under DrGo Me+, including, without limitation, any packaging information and labelling are for information only and any supplement and recommendations are merely recommendation only, all of which are not in any way intended to prevent, diagnose, treat or cure any illness. Supplements recommended by DrGo Me+ are not registered under the Pharmacy and Poisons Ordinance nor the Chinese Medicine Ordinance. Any claim made for or in relation to such supplements has not been subject to evaluation for such registration.

Hashtag: #DrGo

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

About HKT

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 connectivity 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: linkedin.com/company/hkt

About DrGo

Powered by HKT, DrGo is an end-to-end app-based healthtech platform offering one-stop telemedicine consultation and diversified healthcare services through partnership with healthcare professionals, including registered medical practitioners and listed Chinese medicine practitioners. Leveraging HKT’s state-of-the-art technology, the entire consultation journey is encrypted to protect users’ privacy. By offering DrGo Me+ Personalised Supplement Pack and Ready Pack, DrGo enables users to safeguard their well-being with ease and convenience.

Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee!

  • 15-Day Free Returns. No Questions Asked*: All buyers are entitled to free returns within 15 days of delivery.
  • All Day 20% Cashback: Shop to your heart’s content and enjoy 20% cashback across a multitude of products.
  • Guaranteed Next Day Delivery: For those who can’t wait for their parcels, opt for Guaranteed Next Day Delivery to receive your parcels quickly!

SINGAPORE – Media OutReach Newswire – 28 March 2024 – Don’t Worry, Shop Shopee! The wait is over as Shopee gears up for 4.4 Shopee Spree. Mark your calendars from March 28th to April 4th. Beyond unbeatable deals, exclusive offers, and exciting rewards, get ready to experience peace-of-mind shopping as Shopee rolls out delivery and return policies.

4.4 Shopee Spree
4.4 Shopee Spree

This 4.4 Spree, shop worry-free with Shopee’s 15-Day Free Returns, No Questions Asked* policy. Make purchases with the assurance that you can easily exchange or get a refund if your purchases are unsuitable for your needs. Shop confidently and explore a wide range of products without any concerns about making the wrong choice.

But wait, there’s more. For those who just can’t wait for their parcels, opt for Guaranteed Next Day Delivery to be able to enjoy your purchases the very next day! Throughout the campaign, shoppers can also enjoy an impressive 20% cashback on selected items across the platform. Cart out lowest prices bestseller deals from favourite brands like Samsung, Tefal, Medicube, Skechers, Aptamil Dumex, Asus and more!

From March 28th to April 4th, shoppers can also explore Flash Deals Spree at up to seven time slots, featuring cashback vouchers and curated deals refreshed daily.

Voucher lovers can look forward to using the following Shopee vouchers at checkout to unlock even greater discounts.

  • Upsized Vouchers: Get ready for upsized voucher drops throughout the day.
  • Brands Vouchers: Top brands with additional stackable vouchers with 10% and 8% off storewide.
  • Vouchers on Shopee LIVE: Catch the hottest deals on live streams with Upsized 50% Cashback vouchers dropped hourly from 11am!

Experience the excitement of the the 4.4 Shopee Spree now at: https://shopee.sg/m/4-4

* Terms and Conditions apply
Hashtag: #Shopee

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

About Shopee

Shopee is the leading e-commerce platform in Southeast Asia & Taiwan. Shopee promotes an inclusive and sustainable digital ecosystem by enabling businesses to digitalise and grow their online presence, helping more people access and benefit from digital services, and uplifting local communities.

Shopee offers an easy, secure, and engaging experience that is enjoyed by millions of people daily. Shopee is also a key contributor to the region’s digital economy with a firm commitment to helping homegrown brands and entrepreneurs succeed in e-commerce.

Shopee is part of Sea Limited (NYSE: SE), a leading global consumer internet company. Sea’s mission is to better the lives of consumers and small businesses with technology through its three core businesses: Shopee, Garena and SeaMoney.

Tycoon Group Announces 2023 Annual Results

The Group Recorded Revenue of Approximately HK$1,200 million Net Profit for FY2023 increased more than 5.8 times YoY Business is booming and Sales in Southeast Asia doubled Leading the Group to Reach New Heights


HONG KONG SAR – Media OutReach Newswire – 28 March 2024 – Tycoon Group Holdings Limited (“Tycoon Group” or the “Group“, Stock Code: 3390.HK), an omnichannel brand marketing and management service integrator of health products in Hong Kong, announced its audited consolidated annual results for the year ended 31 December 2023 (the “Financial Year” or “FY2023“).

In 2023, Hong Kong’s economy began its journey towards recovery. The number of visitors returning to Hong Kong continued to rise, and the Southeast Asian markets were also recovering rapidly. These positive developments provided further support for local consumption. During the Financial Year, the Group has achieved steady growth in revenue and continues to generate profit. In FY2023, the Group recorded revenue of approximately HK$1,198.6 million, an increase of 1.1% from the year ended 31 December 2022 (“Last Financial Year” or “FY2022”) of HK$1,186.2 million. The Group’s net profit surged to HK$297.3 million (FY2022: HK$43.6 million), representing an increase of 581.4% year-on-year. The gross profit of the Group increased by 22.8% to HK$321.1 million for the Financial Year as compared to that of HK$261.5 million for FY2022, and the gross profit margin increased by 4.8 percentage points to 26.8%. Increase in gross profit and gross profit margin was mainly due to the Group’s continuous efforts in optimising its product portfolio, exploring new markets in Southeast Asia, enhancing its own brands, as well as introducing new own products. These initiatives have led to an increase in overall revenue and gross profit. The Board has recommended to declare a final dividend of HK3.5 cents in cash per ordinary share for FY2023 (FY2022: HK3 cents). Together with the interim dividend of HK3.5 cents per ordinary share, this brings the total dividend for FY2023 to HK7 cents per ordinary share (FY2022 total dividend: HK3 cents).

Building on the rapid growth, the Group will focus its resources on promoting its

distribution business

During the Financial Year, the Group mainly operates three major operating segments, namely distribution business, e-commerce business and retail store business. The full reopening of Hong Kong’s borders at the beginning of the year has bolstered the performance of the Group’s distribution business, maintaining its upward trajectory. In the Financial Year, the Group’s Hong Kong distribution sales reflected a significant 94.0% year-on-year increase. Similarly, the Group’s Macau distribution sales experienced a notable growth rate of 19.1%, attributed to the combined effects of the resumption of cross-border travel between Hong Kong, Macau and Mainland China, and the expansion of the tourism industry in Macau. In addition to its continuous efforts to strengthen its business in Hong Kong, the Group has focused on penetrating the Southeast Asian market in recent years, resulting in a 152.3% year-on-year growth in its Southeast Asia distribution sales.

Considering the rapid growth of the Group’s distribution business, the Group will prioritise allocating resources to drive the distribution business forward. In July 2023, the Group announced the sale of a 51% stake in Combo Win Asia Limited (“CWA”) for a consideration of HK$130 million. The additional proceeds from the sale of the CWA stake will provide the Group with more resources to strengthen its distribution business in Hong Kong, Macau and Southeast Asia, as well as develop its own brands. These initiatives will propel the long-term development of the Group, enrich the Group’s product portfolio, enhance gross profit margins, and achieve even better performance.

In FY2023, the segment result of the e-commerce business amounted to HK$48.4 million (FY2022: HK$40.7 million).

Strengthen well-known best-selling brands marketing and actively develop its own brands

During the Financial Year, the Group continued to develop the omnichannel brand marketing and management business, including one of the global best-selling probiotic brands, Culturelle®; Japanese anti-hair loss and hair protection brand, Kaminowa; and leading French baby washing care brand, Biolane, and more. For Biolane, the Group also has exclusive distribution rights in Singapore and Malaysia.

In addition to its brand agency business, the Group is also actively developing its own brands. The Group has established and developed its own well-received brands of healthcare products, including “Boost & Guard Pro (BG Pro 博健專研)”, “Craft by Wakan (和漢匠心)”, and “Kinmen Qiangxiao (金門強效)”. Among them, “Boost & Guard Pro” and “Craft by Wakan” have quickly responded to market trends by introducing a diverse range of new products, allowing the Group to tap into a broader market of blue ocean.

The Group’s marketing capabilities have also been regonized by renowned brands. The Group has partnered with well-known artistes Mr. Wong Tak Bun, Kenny and Ms. Tse On Kay, Kay. They have successively become the brand ambassadors for the Japanese anti-hair loss and hair protection brand, Kaminowa, in Hong Kong. In terms of own brands, the Group enlisted the support of renowned artiste Ms. Lin Min Chen as the spokesperson for its flagship product “Craft by Wakan Japanese Probiotics”, and invited the popular artiste Mr. Cheung Kai Chung, Louis, to endorse its best-selling brand “Kinmen Qiangxiao”.

In addition, to align with the Group’s strategy of strengthening the development of its own brands, Mr. Wong Ka Chun Michael, the Chairman, Executive Director, and Chief Executive Officer of the Group, personally acquired the well-established Hong Kong brand Po Wo Tong, which has a rich century-old heritage. This acquisition positions Mr. Wong as a major shareholder, enabling collaboration with the Group to launch and sell a wider range of new products. The objective is to reinforce the Group’s portfolio of own brand offerings. Using the proceeds from the previous sale of partial stake in its e-commerce business, the Group is investing more resources in its own brands with higher gross profit margins, and developing and launching more of its own brands and different products to cater for the needs of Mainland visitors travelling under the Individual Visit Scheme (“IVS”) after the reopening of the border, as well as the new trend of the PCM and healthcare products market as a whole.

Focus on business development in Southeast Asia

The Group believes that establishing a presence in Southeast Asia will be advantageous and consequently set up companies in Singapore and Malaysia before going public. The Group will put more resources into the Southeast Asian market and apply the successful distribution model in Hong Kong to its distribution operations in Singapore and Malaysia. The Group aims to partner with prominent personal care product chains in Malaysia and Singapore. Among them is the chain store Guardian, known as Mannings in Hong Kong, which has its headquarters in Hong Kong and has maintained a friendly, cooperative relationship with the Group. This partnership benefits the Group by expanding its sales channels into Southeast Asia, which is expected to become another major profit-contributing region for the Group in the future. In addition, in FY2023, the sales revenue from distribution in Singapore reached HK$41.8 million, representing an increase of 121.3% compared to HK$18.9 million in FY2022. It is anticipated that sales will continue to experience rapid growth in 2024.

Mr. Wong Ka Chun Michael, the Chairman and the Chief Executive Officer of Tycoon Group, said, “2024 is a year of striving for performance, revenue, and growth for the Group. Leveraging the experience and resources accumulated over the past three years of the epidemic, the Group can be anticipated to shine brightly. In addition to its continued focus on development in Hong Kong, Macau, and Mainland China, the Group will strengthen its presence in the Southeast Asian market, particularly in Singapore and Malaysia and expand its international presence. In the local market, the Group has a positive outlook on the market for prepared Chinese herbal medicine and dry supplement products and has been actively expanding its range of supplement products and strengthening its PCM offerings. Let’s anticipate the next fruitful season for the Group as a gesture of appreciation for the trust and support of all shareholders, employees, business partners, and customers.”

Hashtag: #TycoonGroup

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

About Tycoon Group Holdings Limited (Stock Code: 3390)

Tycoon Group is a reputable omnichannel brand marketing and management service integrator of health and well-being related products in Hong Kong. The Group specialises in providing one-stop services for PCM, health supplements, skincare, personal care and other healthcare products, including omnichannel brand agent, marketing, management, distribution and sales. The Group has established a strong online and offline sales network in Hong Kong, Macau, the PRC and Southeast Asia by cultivating the industry for many years with the mission of bringing health and vitality to consumers in Mainland China, Hong Kong, Macau and Asia-Pacific. The Group has provided over 200 local and foreign brands. With a vision of establishing its own brands, the Group developed its own-brand products including “Boost & Guard Pro”, ” Craft by Wakan”, and ” Kinmen Qiangxiao”. Tycoon has established sound relationships with chain retailer customers, with the top two chain retailer customers operating over 470 stores in Hong Kong. The Group is also one of the major distributors for PCM in Hong Kong. For more details, please visit the Group’s official website: