MELBOURNE, AUSTRALIA –Media OutReach – 30 August 2022 – KMS Solutions, a technology company from Vietnam, is devoted to supporting Australian businesses. With a mission of empowering enterprises to embrace innovative technologies, KMS Solutions is one of many IT companies working hard to help bridge the gap.
The rapid progression of Australia’s digital transformation strategy has created a greater demand for new technology. Nevertheless, a severe talent gap is prompting many Australian corporations to restrain their digitalization journey.
Recent Australian Computer Society’s research anticipated that the country needs an extra 60,000 experienced ICT workers annually, with the demand for software developers at the top. Failure to address the skills gaps can delay businesses’ digital transformation and impede Australia’s ambition to rank among the top 10 digital economies by 2030.
Noticing the urgent need for competent IT specialists, the company has expanded its operation in Australia, having 1,600+ technology consultants in its Vietnam DC. Equipped with adequate tech resources and infrastructure, KMS Solutions aspires to support businesses’ strategic technology initiatives.
CEO Duy Le believes that digital transformation is at the core of almost every corporation across all industries.
”No longer just the domain of the IT department, technology now impacts hugely on how businesses identify clients, design products, and delight consumers. To thrive, companies must stay at the forefront of technological development.”
Since the labor market for experienced developers has grown more competitive, Le says enterprises are finding it costs more to attract and retain employees. Aiming to reduce operational costs while accomplishing quality digital solutions, companies have progressively opted for outsourced Digital Team.
Adopting leading-edge technologies and upskilling its workforce, KMS has proved to be a reliable partner to 130+ global clients, particularly in BFSI and ISVs industries. From modernizing tech stack or providing end-to-end product engineering – all are covered by its dedicated development team.
”With the right mix of human ingenuity and technical capabilities, our Solutions and Offerings are of world-class standard, achieving engineering excellence and accelerating time-to-value. That’s what set us apart from others.”
These projects have helped organizations accelerate their transformation with industry best practices, having the next-gen foundation for future growth. With its dedicated development team, KMS Solutions is confident that it can play a significant role in alleviating Australia’s developer shortage.
Make this Mid-Autumn Festival heartwarming and special with delectable novel treats from Whyzee first collection of mooncakes that will spark conversations at the gatherings. Enjoy 30% off all mooncakes till 5 September 2022!
SINGAPORE – Media OutReach – 30 August 2022 – With the easing of COVID-19 rules, locals can finally look forward to catching up with loved ones during the Mid-Autumn Festival like the good old days. Popular homegrown artisanal bakery Whyzee is set to make this year’s celebration extra memorable with treats from its first-ever mooncake collection. Giving traditional classics a clever local spin, these mooncakes promise to bring a pleasant surprise to the table, demonstrating the brand’s flair for dreaming up artisanal bakes with eclectic flavours.
Surprise & Enjoyment In Every Bite
Nothing beats starting off a festive celebration with a bang. However, existing mooncake flavours in the market can get pretty dull and do little to tease jaded palates. Spice up this festive season with a Nonya Sambal Lotus Mooncake serving divine flavours. After the sweet taste in the first bite, a mild roasted nuttiness gradually comes through before the tangy and sweet spiciness from the sambal ends the gastronomic experience with a nice kick. This perfect blend of contrasting flavours gives this mooncake an addictively unique taste that comes alive on the palate.
For those who crave a snow skin mooncake that is lower in sugar content, Whyzee’s collection of Japanese-inspired snow skin mooncakes will hit all the right notes. The Premium Japanese Pure Black Sesame Mooncake comes as a nutty black sesame paste encased in soft, chewy skin. The decadent taste and fragrance of the sesame add richness to the filling and reduce the need for sugar to be used to boost the flavour. This harmonious combination is bound to please children and adults alike.
Delight in the burst of intensely rich, earthy flavours with the Premium Uji Matcha Green Tea Mooncake. Made with exquisite premium matcha leaves from Japan, it gives this mooncake a refined, silky texture that melts in the mouth. Boasting the refreshing mellow taste characteristic of Uji matcha, it is not to be missed for tea aficionados.
Prefer a richly moist snow skin mooncake with the perfect fusion of aromas and textures? Turn to the Premium Japanese Pure Custard Mooncake. Wrapped within the milky layers is a rich, creamy custard paste that is neither too sweet nor cloying and is sure to appeal to all palates. Or, reminisce about past reunions with loved ones over tea and a classic Pure White Lotus Mooncake. This perennial favourite is available with single yolk and double yolk. The best-selling Signature Assorted Flavours Mooncake set is also available for those torn between choices. Shoppers can pick four favourite mooncakes for each set.
Guilt-free Indulgence
All mooncakes from Whyzee are made with 50% reduced sugar and no preservatives. Fans of the classic lotus mooncake can look forward to the Traditional Emerald Pure Pandan Mooncake, a healthier rendition of this all-time favourite. The natural sweetness of the pandan infused reduces the amount of processed sugar used in the filling, making it a healthier substitute that allows even the conscious eater to dig in with ease. The fragrant aroma of the pandan also packs the dense paste with flavour, ensuring that taste is not compromised.
Shoppers can enjoy same-day delivery of Whyzee’s mooncakes, each accompanied with a complimentary card for those who want to leave a message for loved ones. Order these mooncakes online and cart out with a 30% early bird promotion till 5 September 2022.
Hashtag: #Whyzee
About Whyzee
Whyzee, the one-stop online cake delivery platform in Singapore, believes in enabling everyone to indulge in fresh, quality artisanal bakes at an affordable price. Whyzee offers a wide selection of more than 50 economic whole cakes complementary to every occasion and dietary requirement. Making no compromises on quality, all of Whysee’s products are made with premium, wholesome and nutritious ingredients. This ensures top-notch quality, allowing customers to enjoy the true flavours of Whyzee’s masterpieces. Whyzee endeavours to deliver the best services, and orders can be conveniently placed online for self-collection or same-day delivery.
Lao delegations will participate in the UN Review of Disability Rights in Geneva, Switzerland.
Deputy Minister of Labor and Social Welfare, Mr. Padeumphone Sonthany, and other delegations departed at Wattay International Airport bound for Geneva, Switzerland, to participate in the first-time review of the situation of persons with disabilities in Laos by the UN Committee on the Rights of Persons with Disabilities (CRPD), scheduled for 29-30 August 2022.
Global alternative investment group LDA with expertise in innovative, cross border transactions, adds a next-generation financial infrastructure provider to its investment portfolio.
SINGAPORE – Media OutReach – 30 August 2022 – The Lightnet Group (“Lightnet”) announced today it has secured a $50 million capital commitment from LDA Capital Ltd (“LDA”) to grow its infrastructure, operations, and expand its technological partner’s (Velo Labs Technology) blockchain technology. Lightnet will have the option to increase the $50 million to a total commitment of up to $100 million over the next three years. The funds will be utilized to facilitate web 3.0 payment and blockchain ledger-based remittance services focused across Asia Pacific and globally around the world.
“Lightnet’s next generation financial infrastructure, along with Velo Labs’ disruptive technology, will be the future rails for dynamic and regulated markets providing financial mobility and inclusivity across Asia,” commented Warren P. Baker III, Managing Partner and Co-Founder at LDA Capital.
This investment will allow the Lightnet Group to boost growth in the payment and remittance space, expanding operating corridors and opportunities, obtaining licenses – enabling a transition of existing payment and remittance systems towards new technology and building the #1 CeDefi banking network in Asia through its licensed subsidiaries and its continuously growing number of partners. LDA’s capital commitment will also be utilized to increase internal operations including hiring of employees from around the globe to support the expansion of Lightnet’s ecosystem. Lightnet also intends to utilize part of the funds to develop Velo Lab’s existing technology and contribute to the growth of Velo anchors, remittance partners and liquidity providers, and assist the blockchain company with enhancements of its team by hiring key management officers and developers.
“We’re thrilled with this partnership and are so glad that LDA Capital recognizes the value of the new generation remittance services. This investment will allow us to grow and expand our infrastructure, which partners can participate in and grow business solutions. Our unique architecture makes the solution accessible and attainable for anyone to adopt the service.” stated Tridbodi Arunanondchai, Co-Founder & CEO of Lightnet.
The Lightnet Group is a Singapore headquartered fintech group with several licensed subsidiaries around the globe dedicated to improving the lives of the unbanked and underbanked populations throughout Asia Pacific, through its revolutionary advancement in cross-border remittance infrastructure.
Leveraging technology from Lightnet’s close partner Velo Labs, the project intends to be the first, real-time blockchain settlement flow for remittance and payments between Money Transfer Operators (MTOs) and banking institutions under regulatory supervision and support. The group intends to pilot programs that enable remittance backed by distributed ledger technology through multiple channels including the use of stable coins, bypassing the traditional SWIFT settlement process and thus reducing the need for high costs of pre-funding that currently dominates traditional cross-border payment flows. The goal of this project is to demonstrate how the emerging blockchain technology offered by companies like Lightnet’s technology partner Velo Labs can be used in harmony with Lightnet’s existing infrastructure, to enhance and complement remittances in a regulated and secure environment.
Additionally, with the assistance of Velo Labs cutting-edge technology, who are focused on building plug-and-play, blockchain-based remittance solutions, Lightnet will effortlessly be able to connect to a multitude of payment partners across the globe, making the remittance ecosystem and payment options more affordable and accessible to businesses and customers alike.
Hashtag: #LightnetGroup
The issuer is solely responsible for the content of this announcement.
About Lightnet Group
Lightnet Group is a Singapore-headquartered fintech group with the mission of promoting financial mobility and inclusivity. Lightnet Group empowers unbanked populations and SME trade finance with an inclusive international remittance ecosystem. The Lightnet Group’s international remittance ecosystem adopts, in parallel to existing and traditional documentation and process, the Velo Protocol as its blockchain transaction documentation protocol and positions itself as the premiere clearing and settlement network for the Asia Pacific region by connecting existing financial systems with its network of cash agents and wallets. To learn more, please visit www.lightnet.io
About Velo Labs Velo Labs is using blockchain technology to develop a global settlement network that empowers financial institutions to provide secure, near-instant cross-border payments at low cost for individual and business customers. Velo Labs is working to improve access to efficient financial services by developing key technologies that allow for the seamless transfer of value across-borders. To learn more, please visit www.velo.org
About LDA Capital LDA Capital is a global alternative investment group with expertise in cross border transactions worldwide. Our team has dedicated their career to international & cross border opportunities having collectively executed over 250 transactions in both the public and private middle markets across 43 countries with aggregate transaction values of over US$11bn. For more information, please visit www.ldacap.com. For inquiries please email: info@ldacap.com
HANOI, VIETNAM – Media OutReach – 29 August 2022 – VinAI – a member company in Vingroup’s tech ecosystem and VinFast’s strategic partner – is one of the world’s top 20 Artificial Intelligence research-based companies whose mission is to bring state-of-the-art research into real-life impact.
Notes: 1/ VinAI’s DMS uses an infrared camera to recognise the driver’s face and to detect dangerous driving behaviour such as drowsiness and yawning
2/ The automatic mirror adjustment feature helps the driver quickly get the most optimal mirror angle before starting the journey
3/ Traditional 360 View that has been applied on VinFast’s VF e34
4/ Jelly 360 View
On AI Day 2022 organized last week, VinAI announced two brand-new products that have been successfully developed in order to make driving safer and more convenient. These are pioneering in the market and will potentially be integrated into VinFast cars in the future.
Consistently on the cutting edge of technology, VinAI’s Smart Mobility team is proud of its in-house built driving technology. Let’s take a look at the new products.
Driver Monitoring System – DMS
According to a report of the United Nations in 2021, more than one million people die from car accidents every year. While approximately 60 per cent of accidents happen due to driver distractions (AAA Foundation, 2017), and another 20 per cent are caused by driver drowsiness (ROSPA, 2020).
To tackle these problems, VinAI’s specialised Driver and Occupants Monitoring System (DMS) ensures a safe driving experience with our in-cabin solutions by using high-performance cameras and AI to analyse driver behaviour patterns to prevent driving errors.
VinAI’s DMS was developed to enhance the safety of drivers. Based on face recognition technology, VinAI’s solution uses an infrared (IR) camera and vehicle sensors to detect the driver’s status, such as sleepiness, drowsiness, or risky behaviours such as distraction or using phones. By doing this, the system can alert the driver to pay attention to controlling the vehicle. VinAI’s DMS can also detect the driver’s eye movement when wearing sunglasses and a facemask.
The outstanding strength of VinAI’s product also lies in its flexibility. In other words, VinAI’s DMS product is compatible with a wide range of platforms, allowing car makers to integrate it into their existing hardware without having to spend huge effort on conversion. VinAI’s DMS product also runs on multiple SoCs, such as Nvidia, Qualcomm, Renesas, and Ambarella, among the giant global semiconductors.
Auto Mirror Adjustment
To make the driving experience easier and more convenient, VinAI also developed an automatic mirror adjustment (AMA) feature in their DMS product. With classic cars, the driver must adjust the mirror “manually,” using controlling buttons and regularly adjusting it many times to get the correct viewing angle.
VinAI solves this problem by providing a new feature, which automatically adjusts the side mirrors to the optimal position based on the driver’s head position information.
The system automatically calculates the optimal rotation angle of the mirrors based on the relative position of the head and sends the signal to rotate the side and rearview mirrors to their correct positions. All the driver needs to do is sit in position, press the auto mirror adjustment button and the mirror will automatically be adjusted.
Each year, in the US alone, there are 840,000 accidents caused by drivers’ incapability to monitor all blind spots. VinAI has developed a solution to popularize a feature only available for luxury cars to more middle-end car segments.
ASVM is a system that provides 360-degree surround views, including top view, rear view, tire view, and 3D view, to assist the driver when moving through busy streets, on narrow roads, or in the parking lot.
VinAI’s ASVM product has reinvented the driver’s experience by offering complete awareness of the situation around the car and identifying obstacles in “blind” areas with its 360-perimeter surround view monitoring system.
One of the advantages of VinAI’s ASVM is the smooth and high-quality 360/3D view reconstructed by combining the images from four fisheye cameras with the best-in-class algorithm made by VinAI. The driver can interact with the view by swiping in any direction to see all around the car.
In addition, this system also makes parking simpler, especially for new drivers. ASVM detects vacancies in the parking lot, directs parking in real-time, or even automatically parks the car for the driver. In addition, ASVM can estimate the width of the space on narrow roads to determine whether the vehicle can be driven through and provide the necessary support to the driver if needed.
Jelly View
Jelly View is a transparent 360-degree view that can see through the entire vehicle. Using the Jelly View system, the driver can see the whole scene outside the car and even underneath the vehicle and can switch between different views using the on-screen control panel.
With this Jelly View mode, the driver can observe blind spots, especially underneath the vehicle, that cannot be seen through the mirror, thereby avoiding unexpected accidents on narrow roads, bad roads or in parking lots. ASVM supports the driver with a full view of the front, rear, left, right and below the vehicle to align and park in the parking lot.
For example, the ASVM system is optimised to deliver best-in-class image stitching quality with high performance and low computation cost. The system is also flexible and can run on different hardware platforms so that it can be integrated into various car ranges from other segments.
LOS ANGELES, US – Media OutReach – 29 August 2022 – BitDD.co, a US-certified crypto exchange is bringing greater confidence, trust and credibility to the industry, where over 80% of trading platforms have no certification, and amid the current volatility in the crypto world.
Highest Compliance & Security Standards
To give users confidence in the exchange, BitDD has obtained a Money Service Business – Money Service Provider (MSB) financial license from the United States Treasury Department, which regulates money service-related companies including digital currency, virtual currency transactions, and international payments.
BitDD also provides new users’ free access and support to a digital trading expert enabling them to learn how to use the platform sensibly and take advantage of the unique features and benefits.
Rebranding for Growth
Established in 2017, with offices in Los Angeles, United States and Malaysia, BitDD is growing fast and has recently re-branded, launching a new user-friendly website serving over 500,000 customers and with over 2 million users globally expected by 2023.
BitDD focuses primarily on stablecoins, providing advanced currency and derivatives transaction services for digital assets such as BTC, ETH, and USDT to users around the world. Stablecoins are cryptocurrencies tied to a reserve asset including fiat currency such as the US dollar or a commodity, like gold, backed by real-world reserve assets, making them less prone to wild fluctuations in price even in a rapidly shifting market.
Experience and Expertise
BitDD’s mission is to introduce trusted digital asset trading opportunities to a wider global audience by making crypto more accessible, reliable, and easier to use. At the same time, they are forming strong relationships with regulators and bank partners in the traditional financial world.
Alex Lum, BitDD’s Director of Marketing, said, “many people are interested in cryptocurrencies, but think they are too complicated and are not sure who they can trust online to minimize risk. Our directors have over 20 years of experience in financial investment including trading systems, control, settlement and security management, combined with a deep understanding of the blockchain crypto industry.”
Attractive benefits offered by BitDD include:
Exclusive “Fast Trades”
Fast Trade is a set of cutting-edge data analytic tools that help users make better investment choices and faster earnings. Easy to use, the Fast Trade tools sets BitDD apart from other trading platforms.
0% Transaction Fees for 90 days
When they sign up, users can trade and earn for the first 90 days without paying trading fees. This encourages new users to trade more confidently.
Free Tether (USDT) Cryptocurrency
The more a new trader deposits on the platform, the more they earn in free USDT, up to a value of 500 USDT.
Quick Start VIP Account Manager
New users can contact a VIP account manager to learn how to take advantage of BitDD’s unique features and rewards earning potential.
SHENZHEN, CHINA – Media OutReach – 29 August 2022 – OPPO today announced the ten winners of the inaugural OPPO Research Institute Innovation Accelerator. The OPPO Research Institute Innovation Accelerator has seen teams from around the world submit technology proposals aimed at tackling some of society’s biggest challenges. Following a three-month submission and judging process, the ten winning teams will share the RMB 3,000,000 (USD $460,000) prize fund and other resources provided by OPPO and its partners.
The winning teams of the OPPO Research Institute Innovation Accelerator
An earphone that can easily optimize sleep quality; a system designed to detect earthquakes early with rapid intensity reporting; and a smartphone specially designed to provide a greater quality of listening experience for hearing impaired — these are just some of the proposals submitted to this year’s OPPO Research Institute Innovation Accelerator. Launched in May this year, the Innovation Accelerator was established to support OPPO’s belief in “Virtuous Innovation” by seeking innovative proposals addressing key challenges in accessible technology and digital health. Over the three-month period, proposals were judged by a committee from OPPO Research Institute and partners. Proposals were judged against the four criteria of Feasibility, Innovation & Originality, Social Value, and Long-term Potential, with the following ten proposals being selected as the winners of this year’s program (displayed in no particular order):
Institute of Care-life/Chengdu Meihuan Technology Co., Ltd: A massive system designed to detect earthquakes early with rapid intensity reporting using IoT and AI.
Peking University Third Hospital: Detecting early-stage dementia through eye movements and other small indicators.
Lingxin Intelligence Co., Ltd: Combining AI and psychiatric treatment to provide effective and accessible mental health services.
Anhui Easpeed Technology Co., Ltd.: A project that can produce interactive images in free space without the need for an additional medium or screen.
Alango Technologies Limited: BeHear — An innovative hearing aid built from Bluetooth audio hardware and an exclusive hearing assistance algorithm.
Shenzhen Aibaowi Biotechnology Co., LTD: Tangtangquan — a diabetes digital therapeutic solution that works by providing an artificial pancreas and blood sugar monitoring system based on RTOS on a smart watch.
Zhejiang Nurotron Biotechnology Co.,Ltd: Hearing aid and Hearing Protect Technical solutions by supporting smart listening for people with cochlea implants.
Lyratone Technologies, Inc.: Lyratone hearing aid and hearing protection for hearing assistance.
Beijing Jadebird Vision Technology Co., ltd.: A machine vision solution for opticians and people with visual impairments.
IDUN Technologies AG: Sleep journey optimization platform by understanding brainwaves with EEG Hearables.
The ten winning proposals were selected from a total of 536 entries submitted by technology professionals, entrepreneurs, and social science researchers based in 39 countries and regions around the world. As part of the judging and selection process, demo events were held in Israel, India, and China. OPPO also made its debut appearance at VivaTech 2022 in France — Europe’s biggest startup and tech event — to promote the OPPO Innovation Accelerator and share its vision for a better and more inclusive future built on “Virtuous Innovation”.
Levin Liu, OPPO Vice President and President of the OPPO Research Institute
“Over the past few months, we have seen hugely innovative solutions that leverage the power of science and technology to address some of the biggest issues facing society right now,” said Levin Liu, OPPO Vice President and President of OPPO Research Institute. “As we continue to explore and push the boundaries of technology, we do so in alignment with our mission of ‘Technology for Mankind, Kindness for the World’. Through technological innovation, we want to help society develop in a positive direction and bring the benefits of Virtuous Innovation to more people. In the future, we look forward to working with more innovators to tackle key problems like these through the OPPO Research Institute Innovation Accelerator.”
With today’s most pressing challenges too big for any individual organization to tackle alone, OPPO established the OPPO Research Institute Innovation Accelerator to discover and develop technology that could help benefit those most in need of it. Following the announcement of the winners of this year’s Innovation Accelerator, OPPO will help the ten teams to further develop and promote their technologies by providing financial support, marketing resources, opportunities to apply their concepts in OPPO products, and exhibition of their ideas at global events.
Over the years, OPPO has built up vast experience in the areas of accessible technology and digital health, leveraging its understanding of user needs and insights to create tailored solutions for specific groups of users. For example, the OPPO Find X3 series includes a Color Vision Enhancement feature designed to improve the visual experience for those with color vision deficiencies. OPPO has also brought aging adaptation to its ColorOS operating system and smart products to enable elderly users to enjoy the benefits and convenience of technology. Further to this, OPPO has established the OPPO Health Lab to develop preventative health solutions designed to help users develop healthy lifestyle habits. In the future, OPPO will continue to develop its own technology and work with innovators worldwide to bring the benefits of technology to more people.
To learn more about the OPPO Research Institute Innovation Accelerator and this year’s winning proposals, please visit oppo.com/en/proposal/
Hashtag: #OPPO
About OPPO
OPPO is a leading global smart device brand. Since the launch of its first mobile phone – “Smiley Face” – in 2008, OPPO has been in relentless pursuit of the perfect synergy of aesthetic satisfaction and innovative technology. Today, OPPO provides a wide range of smart devices spearheaded by the Find X and Reno series. Beyond devices, OPPO also provides its users with ColorOS operating system and internet services such as OPPO Cloud and OPPO+. OPPO has footprints in more than 60 countries and regions, with more than 40,000 employees dedicated to creating a better life for customers around the world.
Pinup® and Boshutai® Generated Remarkable Turnover while Achieving Record High ProfitAim to Build a Highly Commercial-Driven and Specialized R&D Platform
HONG KONG SAR – EQS Newswire – 29 August 2022 – A fully integrated biopharmaceutical company – Uni-Bio Science Group Limited (“Uni-Bio Science”, together with its subsidiaries referred to as the “Group”, stock code: 0690.HK), is pleased to announce its interim results for six months ended 30 June 2022 (the “Period”), as well as its comparative figures for six months ended 30 June 2021.
Key Accomplishments in the First Half of 2022
During the Period, the Group achieved a spectrum of accomplishments, for both of its marketed products and innovative biologics. The key highlights include:
1. During the Period, the Group’s recorded a turnover of approximately HK$195.6 million, representing a noticeable increase of 24.6% year-on-year (“YoY”). Sales of Pinup® and Boshutai® registered significant increase of 75.6% YoY and 410.2% YoY respectively.
2. The Group achieved a record high profit for the Period of approximately HK$14.6 million with a significant increase of 663.6% YoY. The profit was solely from its core operations and organic growth.
3. During the Period, the clinical work of Uni-GLP-1 injection pen was being accelerated. The Group also in preparation to the development of oral form Uni-GLP-1 to expand the value of the product and offer convenience to users.
4. The Group launched its new research center in Hong Kong and upgrade its business model to a “four-wheel drive” model, which included high-value generic drugs, bio-innovative drugs, CMO business and the newly introduced, advanced skincare raw materials. The Group has been building a highly commercial-driven and specialized boutique R&D platform, tightly integrating research and production under one roof.
5. During the Period, the marketing application of Bogutai® (teriparatide injection) was accepted by the China National Medical Products Administration (“NMPA”). Bogutai® is the Group’s fifth marketed drug and it is also the first domestic manufactured PTH Liquid in China to use a disposable injection pen. The Group strongly believes that Bogutai® will be a future blockbuster for the Group by virtue of the product’s strong cost advantage, better therapeutic effect and convenient administration method.
6. The Group’s Acarbose Tablets (Boshutai®) was successfully selected for Henan Thirteen Provinces Alliance Procurement with procurement validity period set at 2 years. This marked another milestone for the Company and has given the Group an opportunity to quickly expand the in-hospital market share. To satisfy the massive demand for Boshutai® going forward, the Group has already expanded its production capacity in its partner Suzhou production site to ensure its supply stability.
Interim Results
During the Period, the Group recorded a turnover of approximately HK$195.6 million, representing a significant increase of 24.6% year-on-year (first half of 2021: HK$157.0 million). The increase in turnover was mainly attributable to the remarkable sales growth of Pinup® and Boshutai®. Pinup® recorded a noticeable increase of 75.6% in turnover from approximately HK$56.1 million to approximately HK$98.5 million during the Period. The increase was attributable to Pinup®’s inclusion in the national centralized procurement in 2021, which has secured the Group with massive hospital orders. Turnover of Boshutai® increased substantially from approximately HK$1.3 million to approximately HK$6.5 million, representing a significant increase of 410.2%. GeneSoft® recorded an increase in turnover from approximately HK$17.2 million to approximately HK$17.8 million, representing an increase of 3.1%. Turnover generated from GeneTime® was approximately HK$72.7 million, representing a decrease of 11.7% from approximately HK$82.4 million in the first half of 2021. The production of GeneTime® was interrupted in the first quarter of 2022 due to the pandemic prevention and control measures implemented by the local government, resulting in the decrease of sales volume.
Gross profit was approximately HK$144.5 million, representing an increase of 16.1% as compared with approximately HK$124.4 million for the first half 2021, whereas gross profit margin was 73.9% (first half of 2021: 79.3%). The Group continued its strict control in general and administrative expenses, which only accounted for 12.1% of turnover for the Period as compared with 14.2% for the same period last year. The selling and distribution expense for the Period also decreased to 43.5% of turnover from 48.5% that of the same period last year partly due to the direct sales of GeneSoft® started with the Group’s self-developed, stable and efficient sales team since the second half of 2021. The Group’s sales team has greatly enhanced the distribution channel, promotion capability and efficiency of GeneSoft®. The R&D expenses increased by 13.8% to approximately HK$24.3 million as the Group continued to be research- and innovation-focused.
The Group recorded earnings before interest, tax, depreciation and amortization (“EBITDA”) for the Period of HK$27.6 million as compared to HK$13.1 million of the same period last year. Other revenue for the Period surged by 6,351.7% to approximately HK$5.6 million, which was mainly attributable to its growing CMO business. Despite of the Group’s continuous investment in R&D, its cash flow from operating activities for the Period remained positive. This reflects the Group’s strong capability to generate its own capital and support its major investments. The Group recorded a profit of approximately HK$14.6 million for the Period, representing a dramatically increase of 663.6% year-on-year (first half of 2021: HK$1.9 million). The increase in profit was mainly attributable to the impressive sales growth of GeneSoft®, Pinup® and Boshutai®, the increase in CMO business as well as the effective control of operating expenses. Basic earnings per share was approximately HK$ 0.23 cents (first half of 2021: HK$0.03 cents).
Prospects
China has introduced various regulatory reforms to promote the R&D development in the healthcare and biopharmaceutical sector. To ride on the favorable policies and capture the growing market opportunity, the Group has officially upgraded its business model to a “four-wheel drive” model, which includes high-value generic drugs, bio-innovative drugs, advanced skincare raw materials and CMO business, especially focusing on diabetes, ophthalmology, orthopedics and other therapeutic areas. With a new R&D centre set up in Hong Kong Science Park, the Group will be able to develop new innovative bio-products more quickly and efficiently, expand its product portfolio and reshape its R&D system, thus opening up new room for strategic growth.
Looking forward, Mr. Kingsley Leung, Chairman of Uni-Bio Science said, “We will adhere to our ‘strong R&D’ direction and continuously cultivate our internal strength. We have established short-to-long term goals to promote sustainable growth. In short term, our existing product lines will come to fruition. We expect our star products, GeneTime® and GeneSoft®, together with our two high-value generic drugs, Boshutai® and Pinup®, which have both successfully selected for centralized procurement, will continue to bring fast growing income to the Group. Besides the matured products, we will continue to explore the advanced skincare raw materials market. Leveraging our partner, Global Cosmetics’ extensive experience in the skincare industry, we have been working together on 5 functional raw materials, including collagen, fibronectin, beauty peptides, probiotics and exosomes. It’s also worth mentioning that the market application of Bogutai® (teriparatide injection) has been accepted by the NMPA in June 2022, meaning Bogutai® is likely to be the Group’s fifth marketed and self-developed drug. We believe that the launch of Bogutai® and advanced skincare raw materials will diversify our revenue stream, allowing us to enhance our profitability whilst decreasing our business risk going forward.
In medium term, we will diversify the outreach of EGF products while broadening ophthalmology products offerings. We would like to further extend the product life span of EGF products and develop different dosage forms of GeneTime® in order to bring greater convenience for our clients. In addition, we are planning to kick off the development of single dose form of GeneSoft® (no preservatives) utilizing a new Blowing Filling and Sealing (“BFS”) packaging technology, which will be safer and more convenient to use. The BFS packaging technology will also be used to produce Diquafosol Sodium Eye Drops, which is complementary to GeneSoft® and can generate synergy in sales.
In long term, we will continue to leverage the Group’s advanced scientific research technology, together with the innovative capabilities of our technology partners, we will continue to enhance our comprehensive R&D strength, diversifying our best-in-class drug portfolio while expanding business scope beyond. We will continue to actively expand the R&D channels, carry out multi-level R&D cooperations with different institutes to develop innovative biologic formulation technology, such as oral-peptide technology and CEPP, and explore new drug candidates using new antibody modalities. We particularly excited about the prospects of the oral GLP-1 and will accelerate the R&D progress, targeting to launch the product in the near future.”
Hashtag: #Uni-BioScience
About Uni-Bio Science Group Limited
Uni-Bio Science Group Limited is principally engaged in the research and development, manufacture and distribution of pharmaceutical products. The research and development centre is fully equipped with a complete system for the development of genetically-engineered products with a pilot plant test base which is in line with NMPA requirements. The Group also has two GMP manufacturing bases in Beijing and Shenzhen. The Group also has a highly efficient commercialization platform and marketing network. The Group focuses on the development of novel treatments and innovative drugs addressing the therapeutic areas of endocrine such as diabetes and osteoporosis, ophthalmology and dermatology.
Uni-Bio Science Group Limited was listed on the Main Board of the Hong Kong Stock Exchange on November 12, 2001. Stock code: 0690.
www.lightnet.io
info@ldacap.com
