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Coface Asia Corporate Payment Survey 2022: Asian companies face rising credit risks despite shorter payment delays

HONG KONG SAR – Media OutReach – 29 June 2022 Coface’s 2022 Asia Corporate Payment Survey, conducted between November 2021 and February 2022, provides insights into the evolution of payment behaviour and credit management practices of about 2,800 companies across the Asia Pacific region during another pandemic year. Respondents came from nine markets (Australia, China, Hong Kong SAR, India, Japan, Malaysia, Singapore, Thailand and Taiwan) and 13 sectors located in the Asia-Pacific region.

No deterioration of payment delays despite the impact of COVID except in China

Improved economic conditions in 2021 contributed to a notable fall in the duration of payment delays across Asia-Pacific, dropping from 68 days on average in 2020 to 54 days in 2021, the lowest level in 5 years. The share of respondents experiencing overdue payment remained stable at 64% vs. 65% in the previous year. Among the nine economies covered, payment delays shortened the most in Malaysia and Singapore. By contrast, China was the only country that recorded a rise in payment delays, and also was the country with the longest average payment delay.

However, the survey highlighted some concerns. The share of respondents that mentioned an increase in the amount of overdue went up to 35% in 2021, against 31% in the preceding year. Furthermore, more companies reported ultra-long payment delays (ULPDs) of more than 10% of annual turnover, with this increase driven largely by China where the already high share of 27% in 2020 grew to 40% in 2021. The proportion of ULPDs slightly rose in Australia and India, while it stabilized or declined in the other six economies, with a significant drop in Hong Kong. The large majority of ULPDs are never paid, and therefore, cash-flow risks tend to increase when these ULPDs account for over 2% of a company’s annual turnover.

Sector-wise, the increase in companies experiencing ULPDs of more than 10% was particularly marked in the metals sector, for which it increased by 14 pp to nearly 23%, the largest registered among the 13 sectors. Other sector such as construction, ICT, transport and textile also face significant cash flow risks, with more than 30% of companies that experienced ULPDs reporting that such delays represented more than 2% of annual turnover.

Economic Expectations: Sustained optimism but high concern on rising material prices

Overall, optimism remains intact, with 71% of respondents expecting economic growth to improve in 2022. This optimism was, however, unequal across the region. Singapore is more optimistic compared to the Asia average, with 83% (+17 pp) anticipating higher growth. Companies in Japan and Thailand, where the recovery was relatively subdued in 2021 and therefore with a greater scope for a stronger recovery in 2022, showed more confidence as well, both rising by 14 pp to 75% and 80%, respectively. By contrast, this share was only 44% in Malaysia, showing a significant decline (-29 pp) as compared to last year amid rising political uncertainty, with the possibility of a snap general election in 2022.

Rising raw material prices are increasingly mentioned by respondents when asked about the effect of COVID-19 on their sales performance and cash flow. Over half (54%) of the companies mentioned rising raw material prices as a key factor, up considerably from 31% in 2020. Raw material prices rose sharply in 2021, especially in crude oil, and were lifted significantly higher following the conflict in Ukraine. This intensified cost pressures for companies worldwide, including in Asia-Pacific, which heightened the risk of developing cash-flow problems.

Asian businesses margins increasingly under pressure

Nowadays, businesses are dealing with a complex environment characterized by supply chain disruptions, geopolitical tensions, and surging inflation. Supply constraints persisted in 2021, partly due to fresh COVID-19 outbreaks and new lockdowns. Nonetheless, the world gradually reopened and private demand rebounded. This widened the gap between demand and supply of many products and raw materials, leading to significant increase in prices. Global supply chain pressures slightly abated at the start of 2022, but were reignited by the Russia-Ukraine conflict. Given both countries’ predominant role in global commodity markets, the conflict has led to a further surge in raw material prices, pushing inflation higher and, in turn, wages as well. Consequently, it weighed on business profitability by increasing production costs.

After enjoying subdued inflationary pressures through 2021, Asian countries are now recording rapidly rising inflation, especially in food and energy items. In some Asian economies, consumer price index (CPI) growth rate has exceeded central bank’s target. This was the case in Thailand, where CPI posted an annual increase higher than the upper value of the central bank’s target band of 3% for the fifth consecutive month in May. Inflation target were also breached in Australia, India, and the Philippines. After having experienced deflation during 10 months over 2020/2021, Japanese inflation went above the Bank of Japan’s target with 2.5% in April. Facing this surge in living costs, some countries decided to increase wages in order to help consumers to deal with the situation. In Japan, South Korea and Singapore, data revealed that average wage growth has accelerated since 2021. In Southeast Asia, Malaysia introduced a large minimum wage hike of 35% in May 2022. A rise in minimum wage is also set to be implemented in the Philippines in June and in Vietnam the following month.

‘Improved economic conditions in 2021 contributed to a notable fall in the duration of payment delays across Asia-Pacific. However, companies in the region faces rising credit risks, with more companies reported an increase in the amount of overdue. They were also more experiencing ultra-long payment delays of more than 10% of annual turnover, notably in China and, to a much lesser extent, in Australia and India.’, said Bernard Aw, Coface’s Asia-Pacific Economist.

Find here the Coface Asia Corporate Payment Survey 2022 produced by Coface.

COFACE: FOR TRADE

With over 75 years of experience and the most extensive international network, Coface is a leader in trade credit insurance and adjacent specialty services, including Factoring, Single Risk insurance, Bonding, and Information Services. Coface’s experts work to the beat of the global economy, helping ~50,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface’s insight and advice, these companies can make informed decisions. The Group’ solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2021, Coface employed ~4,538 people and registered a turnover of €1.57 billion.

#Coface

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

Warner Bros. Discovery partners with Shell in ‘Dare to Ride’

Warner Bros. Discovery partners with Shell for the premiere of adrenaline-filled local show ‘Dare to Ride’ featuring Asia’s most iconic bike routes

  • Six celebrity bikers overcome unique obstacles as they bike across Indonesia, Malaysia, Philippines, Vietnam, Thailand, and India
  • New local series in partnership with Shell (6×30) premieres across Southeast Asia and India between June 25 to July 30, 2022

SINGAPORE – Media OutReach – 29 June 2022 – Warner Bros. Discovery has partnered with Shell for a brand-new, adrenaline-filled show, “Dare to Ride”, which premiered on Discovery Southeast Asia (SEA) and India on June 25, 2022, at 9PM (SEA/PH), 8PM (BKK/JKT), 8PM (IND).

“Dare to Ride” showcases some of Asia’s most accomplished riders as they attempt to conquer the region’s most iconic routes with just their bikes, their wits, and their technical knowhow. The show is narrated by Steve Crombie, a world-renowned professional adventure motorcyclist who has already conquered many extreme terrains and roads in Asia and around the globe.

Lynn Ng, VP Head of Factual & Lifestyle SEA and Head of Content Operations APAC, Warner Bros. Discovery, said: “Warner Bros. Discovery remains committed to championing local storytelling and homegrown talent and we are pleased to partner with Shell on a new series that showcases the beauty of Asia through a fresh perspective. Featuring the stunning sceneries of Indonesia, Malaysia, Philippines, Vietnam, Thailand, and India, Dare to Ride puts audiences in the front seat as renowned riders strive to overcome physical, geographical, and cultural obstacles. Combining adventure and emotion with unique histories, cultures and landscapes, this is much more than a journey across Asia’s most challenging roads, it is also a journey of the soul.”

Elaine Chen, GM Consumer Road Sector, Shell Global Marketing, said: “At Shell, collaboration is one of our key attributes, and we’re very happy to collaborate with one of the biggest broadcast partners in the world, Warner Bros. Discovery, to showcase the courage of our passionate bikers to outride anything in Dare to Ride series. Most importantly, as part of our strategy to humanise the brand, we’d love our audience to experience the joy of new adventures along with their passion for riding because with Shell Advance, however, and wherever you ride, we are always here for you.”

MediaCom APAC plays a major role being the enabling factor behind the collaboration.

Zeljana Unkovich, Regional Strategy Director, MediaCom APAC, said: “We are delighted to have been able to bring together two of our key partners to create something beyond the boundaries of traditional media. This collaboration celebrates their shared pioneering spirit and invites audiences on the adventure at the same time.”

The first episode (premiered on June 25) takes audiences to Indonesia, where video journalist Arsal Bahtiar accepts the challenge of riding a scooter on an arduous journey to the top of Mount Bromo, an active volcano in East Java. The nail-biting episode unveils whether the motorbike, designed for city streets, can handle rocky roads, steep mountain trails, and a vast sandy desert.

Episode 2 (premiere on July 2) follows Pro Skateboarder Pa’din Musa across Malaysia as he tackles everything the jungle can throw at him with an underbone motorcycle, also known as “kapcai” in Malaysia, designed for everyday use on the roads. Pa’din puts the iconic vehicle through an ultimate off-road test as he takes it over rocky rivers, muddy trails, wet grass and slippery slopes.

Episode 3 (premiere on July 9) sees Filipino radio and TV personality Samir Gogna (Sam YG) takes on the ride of his life with a journey from Manila to Dicasalarin Cove, one of the most beautiful spots in the Philippines. Riding a touring motorcycle through the scorching sun and pouring rain, the adrenaline junkie is pushed beyond his limits, fighting dehydration, exhaustion, and curveball challenges thrown at him along the way.

Episode 4 (premiere on July 16) brings audiences to Vietnam with Photojournalist Tran Tuan Viet, who will challenge his knowledge of Hanoi as he attempts to be a motorcycle tour guide for the day. Armed with only a vintage motorcycle and his wits, Viet takes three tourists on a trip filled with food, history and culture.

Episode 5 (premiere on July 23) takes viewers to Thailand, where actor and adventurer Ray MacDonald learns what it’s like to be a true hero of the streets, spending a day in the shoes, or wheels, of a Chiang Mai motorcycle delivery rider. As delivery riders depend upon their rating, even a single missed order can lose them time, money and business. As such, Ray must be on high alert as he weaves through the mayhem of motor vehicles in Thailand to stand any chance of a 5-star review.

The final episode (premiere on July 20) sees bike-lover Fakira Tiwari tackle an epic 200km journey across India, travelling from the old to the new, from the mountainous terrain of Nashik to Mumbai’s Gateway of India, before sunset. Along the way, he must deliver a gift of books to a remote village school. He will face punishing village trails with long stretches of silence and isolation before hitting the chaotic and intimidating expressways of Mumbai.

Dare to Ride highlights Southeast Asia’s position as one of the world’s best places to motorcycle, as the show entertains and informs audiences of the region’s natural beauty, culture, and history. The show marks Warner Bros. Discovery’s first-ever partnership with Shell and reflects Warner Bros. Discovery’s reputation for quality entertainment and commitment to bringing more locally relevant content to audiences.

Dare to Ride is produced by HJ Production in association with Trifecta Collective Sdn Bhd. The executive producer is Henry Ambarita.

Notes to editors
Celebrity bikers guests:
Indonesia: Arsal Bahtiar
Malaysia: Pa’din Musa
Philippines: Samir Gogna
Vietnam: Trần Tuấn Việt
Thailand: Ray Macdonald
India: Fakira Riders

Images/Art: here
Promo: here

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a leading global media and entertainment company that creates and distributes the world’s most differentiated and complete portfolio of content and brands across television, film and streaming. Available in more than 220 countries and territories and 50 languages, Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, discovery+, CNN, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros. Pictures, Warner Bros. Television, WB Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit .

#WarnerBrosDiscovery

Pattern sees considerable growth during China’s 618 Shopping Festival

GMV rose 290% year-on-year, attributed to more high-profile brands being onboard

HONG KONG SAR – Media OutReach – 29 June 2022 – The 618 Shopping Festival is the second-largest online shopping event in China, and it recently took place from 31 May to 18 June. The event outperformed itself this year as record sales took place, which is a testament to the strength of China’s economy. Pattern is delighted to announce the trading results for brands we represent in China from 618.

During the shopping event, Pattern’s total GMV in China increased by 290% compared to last year’s results. The growth is attributed to our brand partners’ line-ups strengthening in the market, as the newly onboarded brands contributed over 50% of Pattern’s total GMV during the 618 festival.

Brands that have been trading with Pattern in China for over a year saw significant increases in sales, with an average 85% year-on-year uplift in sales over the period. The highest performing brand achieved a growth of 14-fold.

Despite COVID control measures in some major Chinese cities during the period, the country still saw steady growth in its online retail sector. For example, JD.com reported a total transaction volume of RMB 379.3 billion (approximately USD 57 billion) for its 618 campaign this year, beating its own record again with a 10.3% YoY growth. This result echoes our latest polling research in the China market, which found 67% of Chinese shoppers saying they will spend more online in 2022.

Pattern China General Manager Sharon Gai commented: “We are proud to see the strong result we delivered at the 618 festival this year, which shows the synergy between our business model and the brands we represent in China.”

She added: “With our local team’s knowledge of China’s unique ecommerce ecosystem, we help the Western brands we represent to prepare for the shopping festivals, maximising their profile through a mixture of on-platform advertising and off-platform demand-generation and brand awareness campaigns.”

The 618 Shopping Festival closely follows the size and extent of Double 11, which is the biggest 24-hour online shopping festival in the world, originating in China. Initiated by JD.com, the 618 festival now has all key Chinese ecommerce players’ participation, including Alibaba, PDD and Douyin (TikTok), all of which launch large-scale promotional activities and discounts throughout the event. According to a research study, the GMV of major ecommerce platforms in China during the 618 festival this year reached RMB 695.9 billion (approximately USD 104 billion).

If you would like more information on how we partner with brands to represent them on online marketplaces in China and around the world, please contact us at hk@pattern.com.

About Pattern Inc

Pattern is the ecommerce accelerator of choice for hundreds of consumer brands – acting as their Trade Partner or Master Distributor in key markets. It is in the top 5% of authorised Tmall Trade Partners, is one of the largest Amazon sellers in the world, and supports brands to sell on marketplaces such as JD.com, Lazada, Shopee, Coupang, eBay and others.

Pattern takes care of every aspect of a brand’s marketplace presence and provides full visibility of key success metrics. Unlike other Trade Partners in the region, Pattern operates a stock-buy model to equally share risk and reward while working closely with brands to build demand for their products and accelerate their Tmall presence.

In addition, Pattern’s consulting team supports brands with their strategic ecommerce challenges, including whether they should sell online in China and which other APAC markets they should expand to online.

For more information, visit

#Pattern

Yeebo Announces Annual Results for FY2021/22; Revenue Growth of 42% Achieved Impressive Growth of 42% in Profit Attributable to Owners; Committed to Transforming into an Advanced Technology-based Manufacturing Leader

Financial Highlights

For the year ended 31 March

2022

HK’000

2021

HK’000

Change

Revenue

1,266,641

891,969

+42.0%

Gross profit

199,656

109,215

+82.8%

Profit for the Year

282,353

198,010

+42.6%

Profit attributable to owners of the Company

266,579

187,734

+42.0%

Basic earnings per share (HK cents)

– Basic

– Diluted

27.3

27.1

19.1

19.0

+42.9%

+42.6%

Proposed final dividend per share (HK cents)

5

2

+150.0%

HONG KONG SAR – Media OutReach29 June 2022 – Yeebo (International Holdings) Limited (“Yeebo” or the “Company”, stock code: 259, which together with its subsidiaries is referred to as the “Group”), a renowned company in the developing, manufacturing and sale of Liquid Crystal Displays and modules, Thin Film Transistor and Thin Film Transistor – Capacitive Touch Panel module in Hong Kong, announces its annual results for the year ended 31 March 2022 (the “Year”).

A broadened range of superior products, robust customer demand, and consistent execution helped drive outstanding financial results in the Year. The Group achieved turnover of HK$1.3 billion, an increase of 42% from last year. Gross profit grew from approximately HK$109 million to HK$200 million, an increase of 83% from last year. Profit attributable to owners of the Company increased from approximately HK$188 million to HK$267 million. Basic earnings per share were HK27.3 cents. The Board of Directors recommended a final dividend of HK5 cents per share for the year ended 31 March 2022.

As the Board is of the view that the current trading price of the shares of the Company does not reflect their intrinsic value, it intends to exercise its powers to buy back the shares in the open market. The Board believes that the Share Buy-back can enhance the value of the shares and reflects the Company’s confidence in its long-term business prospects for the benefit of the Company and its shareholders as a whole.

Commenting on the annual results of the Group, Mr. Fang Hung, Kenneth, Chairman of Yeebo, said, “In the FY2021/22, COVID-19 was continuing to spread around the world, and has seriously affected the stability of the supply chain. Against such challenging setting, the Group achieved outstanding growth in both sales revenue and operating profit. All of which was made possible only with the management team’s consistent execution – its resolute effort in product development, facilities expansion and upgrade, cost control enhancement and raw materials procurement management.”

The Group’s concerted effort in its marketing and product development has boosted its success in capturing market share in many of the higher growth product markets, such as industrial control devices, smart home and office appliances, internet protocol phones, medical equipment and medical care devices. The Group has strengthened its product development capabilities across the Liquid Crystal Display module (“LCM”), Thin Film Transistor (“TFT”) and Thin Film Transistor – Capacitive Touch Panel module (“TFT-CTP”) products. Such product expansion helped the Group in further growing its well-diversified customer portfolio, including many world leading brands.

COVID-19 has continued to impact the global supply chain causing disruptions to many companies, logistics and the flow of supplies and products. The Group has taken extra effort (i) to maintain a stable yet agile supply of raw materials in meeting the production requirements, and (ii) to preserve a committed and skilled labour force through reasonable wage increases.

Furthermore, through vertical integration, the Group is able to sustain its cost competitiveness and safeguard the supply of quality raw materials internally. Production facilities have been upgraded and expanded to accommodate the increase in business volume and to provide further agility in meeting the dynamic needs of today’s customers.

Optimized operational efficiency, together with an enhanced sales-mix, with higher modules-related sales, facilitated such improvement in profitability. Gross profit margin improved to a healthy level of 16% against 12% in last year.

Apart from its core business, the Group has two high growth and profit-driving engines through its equity investment in Nantong Jianghai Capacitor Company Ltd (“Nantong Jianghai”) and Suzhou QingYue Optoelectronics Technology Co. Ltd. (“Suzhou QingYue”).

For Nantong Jianghai, it continued to deliver a remarkable financial performance against the headwind of rising manufacturing costs, from the raw materials to electricity. The Group’s share of profit from Nantong Jianghai increased from HK$154 million to HK$194 million, representing an increase of HK$40 million or 26%. Nantong Jianghai is the leading provider of capacitors and energy storage in China. Its main products can be categorized into 3 groups: (i) aluminium electrolytic capacitors, (ii) thin film capacitors and (iii) supercapacitors. It has achieved sustainable growth through long term commitment in investing in research and development of new technology in materials, product development and manufacturing processing.

Aluminium electrolytic capacitors continued to deliver an impressive year-on-year sales growth. Industrial-grade capacitors accounted for over 75% of sales and captured a remarkable market share in the large-size aluminium electrolytic capacitors market. Thin film capacitors also registered exciting sales growth, boosted by strong demand in the new energy and electrical vehicle markets. Supercapacitors were also well positioned and offered some of the most exciting potential growth in the smart meter, rail transportation, port infrastructure and power grid markets.

Yeebo started investing in Nantong Jianghai in 2005. Its business has since grown substantially. Subsequent to the Year, the Group disposed of a total of 10,463,000 Nantong Jianghai shares, which represented approximately 4.03% of Yeebo’s stake in Nantong Jianghai, or 1.26% of the entire issued share capital of Nantong Jianghai, for a total consideration of RMB210.4 million (exclusive of transaction costs). Immediately after the disposal, the Group remains holding 249,121,000 Nantong Jianghai shares, and Nantong Jianghai continues to be an associate of the Group.

For Suzhou QingYue, the share of profit from Suzhou QingYue amounted to HK$18 million in this Year.

Suzhou QingYue is one of the global leaders in PMOLED. It posted strong sales growth, driven by the increase in sales of its e-paper modules. PMOLED sales declined slightly year-on-year, against extraordinary sales achieved in the medical equipment, medical and health care product sales in the previous year.

Strong sales momentum on the e-paper modules, well received among retailers, is expected to continue. Micro-OLED has also commenced pilot production in small quantity during the Year. Its main applications include the “near-eye” display and the projection display market, augmented reality (“AR”) and virtual reality (“VR”) markets.

To support with its robust business expansion, Suzhou QingYue has plan to have its shares listed in The Shanghai Stock Exchange (“SSE”) and has submitted the relevant application to SSE for approval. The Group firmly believes that the proposed listing plan will bring meaningful returns to the Group in the future.

Mr. Fang Hung, Kenneth, Chairman of Yeebo, concluded, “As the global economy continues its recovery, the demand for our products is expected to continue to grow. Looking forward, we will continue to focus on the high-value display market, committed to further develop the LCM, TFT and TFT-CTP market which will generate superior quality of earnings to the Group.”

“We are also confident our associate companies, Nantong Jianghai and Suzhou QingYue, will continue to deliver robust results and further cement their market leading positions. Leveraging on the corporate platform of the Company and its associate companies, the Group aims at fully transforming itself into a leader in the advanced technology-based manufacturing industries. We will actively explore investment or acquisition opportunities for market leading companies with high technological advantages.”

About Yeebo (International Holdings) Limited:

Founded in 1988, Yeebo (International Holdings) Limited is a renowned company in the developing, manufacturing and sale of Liquid Crystal Displays and modules, Thin Film Transistor and Thin Film Transistor – Capacitive Touch Panel module in Hong Kong. With headquarter located in Hong Kong, Yeebo’s manufacturing activities mainly operate with three factories locating in Jiangmen city and Shenzhen city of Guangdong Province. Yeebo’s products have a strong global presence in key electronic market sectors including Industrial applications, Telecommunications, Medical equipment, and Electronic consumable products. The Group is also an approved vendor to a number of internationally renowned customers. In addition to its core operations, the Group also has equity interests in the capacitor (Nantong Jianghai), OLED (Suzhou QingYue), and eyewear (OneSec) industries.

#Yeebo

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

New Bank of Laos Governor: Mismanagement of Foreign Currency Rife

Foreign currency (US Dollars)

Newly-appointed Governor of the Bank of Laos, Mr. Bounleua Sinxayvoravong, addressed the National Assembly about the challenges and difficulties faced by the nation in regard to foreign exchange management.

CSG Customer Engagement Solutions Earn Top Marks from Multiple Leading Analyst Firms

Positioned as a leader by industry analyst firms, demonstrates depth, innovation and expertise of end-to-end platform

DENVER, US – News Direct – 29 June 2022 – In today’s world of instant gratification, second chances to impress consumers are hard to come by, making it critical to get every interaction right the first time. Global brands are clamoring for intelligent automation that delivers personalized, relevant and interactive experiences in real-time across the entire customer lifecycle. CSG® (NASDAQ: CSGS) is answering this call. With a best-in-class, end-to-end suite of solutions and an integrated omnichannel approach, CSG continues to garner the recognition of industry-leading analysts at Forrester and Quadrant Knowledge Solutions.

In recent months, CSG has been recognized as a:

  • A Leader in The Forrester Wave™: Journey Orchestration Platforms, Q2 2022: the Forrester report states: “CSG acquired Kitewheel – a regular leader in the journey orchestration space – to bring together journey analytics and orchestration…”
    • Forrester recognized CSG with a top score in the current offering category and gave top scores in the journey discovery, and journey automation and orchestration criteria. The report states CSG’s current offering strengths include “connecting the data, analyzing journey behavior, including a visualization of which steps have the biggest impact on the overall journey; and analyzing business impact.”
  • A Leader in the SPARK Matrix™: Customer Communication Management (CCM), 2022
    • CSG’s customer engagement channels help “organizations enhance customer engagement, reduce churn, reduce operating expenses, easily launch new digital services and enter new markets efficiently.”
  • A Leader in the SPARK Matrix™: Customer Data Platform (CDP), 2022
    • Quadrant Knowledge Solutions notes, “CSG’s CDP platform provides comprehensive capabilities, including data collection and ingestion, profile unification, segmentation, analytics, as well as BI and activation.” the comprehensive CDP capabilities help organizations have a data-driven approach to provide compelling and engaging customer experiences.”
  • A Contender in The Forrester Wave™: Real-Time Interaction Management, Q2 2022
    • The report states that CSG benefits from Kitewheel’s “expertise in customer journey design and analytics, business rules logic, and communications cadence. Integrating Kitewheel with CSG’s stronger CDP and analytics tools will be critical to drive more real-time model execution…”

“Global brands trust CSG to help them win with their customers because we’ve demonstrated time and again that we not only understand their business but deliver results,” said Eric Carrasquilla, senior vice president, digital engagement solutions, CSG. “Our SaaS platform, CSG Xponent™, breaks down data silos to create a true and complete view of the customer. This holistic picture allows companies to deliver personalized, predictive and proactive communications that drive better business outcomes, quicker time to value and lower risk. This is our 40-year plus pedigree and why industry analysts consistently rank CSG among the top CX solution providers across the entire customer lifecycle.”

CSG Xponent leverages existing data, technology and communication channels to create extraordinary experiences using a unified, cloud-powered engagement platform. Xponent combines a robust customer data platform, industry-leading customer journey orchestration and analytics, and proven omnichannel communications all in one solution or via components of this portfolio. With Xponent, brands can extract meaningful insights from their data to personalize experiences in real-time and at scale across a multitude of channels, journeys and lines of business. CSG successfully supports clients with high-impact CX solutions in a multitude of industries, including broadband and communications service providers, financial services, retail, healthcare and more.

For more information on CSG’s unified customer engagement portfolio, visit https://www.csgi.com/capabilities/customer-engagement/unified-cloud-engagement-hub/.

About CSG

CSG is a leader in innovative customer engagement, revenue management and payments solutions that make ordinary customer experiences extraordinary. Our cloud-first architecture and customer-obsessed mindset help companies around the world launch new digital services, expand into new markets, and create dynamic experiences that capture new customers and build brand loyalty. For 40 years, CSG’s technologies and people have helped some of the world’s most recognizable brands solve their toughest business challenges and evolve to meet the demands of today’s digital economy with future-ready solutions that drive exceptional customer experiences. With more than 5,000 employees in over 20 countries, CSG is the trusted technology provider for leading global brands in telecommunications, retail, financial services, and healthcare. Our solutions deliver real-world outcomes to more than 900 customers in over 120 countries.

To learn more, visit us at and connect with us on and .

Copyright © 2022 CSG Systems International, Inc. and/or its affiliates (“CSG”). All rights reserved. CSG® is a registered trademark of CSG Systems International, Inc. All third-party trademarks, service marks, and/or product names which are referenced in this document are the property of their respective owners, and all rights therein are reserved.

#CSG

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

HONMA Golf Announces Record Annual Results for FY2021/22 Robust Growth across All Products and Markets

HONG KONG SAR – Media OutReach28 June 2022 – HONMA Golf Limited (“HONMA”; together with its subsidiaries, the “Group”; HKEx stock code: 6858), one of the most prestigious golf brands worldwide, announced today its consolidated results for the year ended 31 March 2022 (the “Period”).

Financial Highlights

  • All key financial metrics improved significantly, with the Group’s revenue, profit before tax and earnings per share reaching record highs since its IPO listing.
  • Group revenue of JPY28,971.1 million (equivalent to USD249.2 million), up 27.4% versus FY2020/21.
  • Gross profit margin of 54.1%, up 3.8 percentage points from the same period last year.
  • Profit before tax for the year increased significantly by 212.4% to JPY7,560.3 million (equivalent to USD65.0 million), with earnings per share increasing by 233.0% to JPY10.22.
  • Operating cash flow was JPY5,916.5 million (equivalent to USD50.9 million), up 48.5% year-on-year.
  • The Board proposed a final dividend of JPY2.0 per share, together with the interim dividend of JPY1.5 per share, total dividends for the financial year will amount to JPY3.5 per share. Total dividend payout will amount to JPY2,119.7 million, representing 34.2% of the Group’s distributable profits for the period.


During the Period, the global sports industry has shown signs of rapid recovery as governments around the world gradually relaxed COVID-19 related restrictions. In particular, the golf industry grew significantly in terms of participation and purchase interest. The Group has caught the tailwinds of industry development to actively implement its three-pronged growth strategy, namely product, channel and branding, and has achieved remarkable results.

All markets demonstrated robust growth

Geographically, most of the Group’s main markets recorded robust sales growth compared to the same period last year, with revenue from Japan, China, Europe and Other Regions rising sharply by 29.8%, 38.7%, 47.1% and 48.7% year-on-year, respectively.

On the back of a complete recovery of the retail environment, revenue from Japan rebounded by 29.8% to JPY8,497.2 million, fueled by the successful activation of BERES Aizu club sets in December 2021. In China, where public interest in outdoor sports surged after COVID-19, golf participation has been noticeably growing. Revenue from China (including Hong Kong and Macau) continued to rise by 38.7% year-on-year to JPY7,644.3 million, thanks to further improvement in retail operations and investments in digital marketing and e-commerce business.

In another key home market, Korea, revenue grew by 7.0% year-on-year to JPY6,831.6 million, despite a mid-year change in the distribution rights for the Tour World club family, which is designed to pivot growth in the premium performance segment with a dedicated sales force and focused market penetration approach.

Revenue from Europe and Other Regions also skyrocketed by 47.1% and 48.7% year-over-year, respectively, thanks to the successful activation of multiple club products and enhanced brand recognition. The Group’s growth strategy in Europe and the United States was successfully advanced while ensuring a solid financial standing in both markets.

Successful product strategies and new product launch accelerated growth for both golf club and non-club segments

During the Period, all product categories revealed double digit revenue growth across the board, led by the apparel business with a record growth of 71.6%, while revenue from golf club, golf balls and accessories grew by 23.9%, 11.8% and 43.1%, respectively. The Group’s non-club segment continued to increase its revenue share to 28.1%, compared to 26.0% in the same period last year. The Group now offers a complete golf lifestyle experience through its comprehensive range of golf and complementary products in the super-premium and premium-performance segments.

HONMA continued to focus on club products that best represent Japanese traditional craftsmanship and innovative technology and made the decision to enhance and extend its product offering in both the super-premium and premium-performance segments. HONMA applied several of its revolutionary proprietary technologies to upgrade with a modern and sophisticated design and development approach in its latest BERES and TOUR WORLD products, which are designed for affluent and avid golfers. Following the successful launch of Beres Aizu and TW757, golf club sales grew by 23.9% during the Period, reconfirming HONMA’s strong brand equity and its ability to withstand economic challenges since it entered the golf business in 1959.

Beyond clubs, HONMA has been continuously nurturing its non-club business in Asia home markets as an important pillar of its growth strategy.

To support HONMA’s ambitious goal in apparel business expansion, the Group has assembled dedicated apparel design and sales teams in Japan, China and Korea and created a network of quality retail footprints. Sales from apparel increased by 71.6% to JPY2,963.4 million during the Period, mainly contributed by strong sales performance in China and Korea from HONMA’s 2021 Fall/Winter and 2022 Spring/Summer apparel collections.

Revenue from golf balls grew steadily by 11.8% to JPY2,974.1, despite the lingering negative impacts of the pandemic on retail and supply chain activities. The Group further prioritised its product development resources and launched golf balls with its own patent to meet HONMA brand positioning and customer preferences.

Accelerating e-commerce and connecting online and offline channels to build a digital ecosystem

During the Period, the Group continued to make investments into the fast-growing e-commerce business and recorded a surge in online sales by 80.1% over the same period last year. The Group started its digital transformation well before the pandemic and has added e-commerce capabilities in China, Japan, and the US. China led the growth in online sales by 91.4%, mainly from Tmall and JD flagship stores. In Japan and North America, the company sells online through its own e-commerce websites, creating important brand touchpoints for consumers to understand and search for HONMA products, local retailers or fitting experience. The Group implements a variety of digital marketing efforts, including re-targeting efforts in social media and search engine optimisation, to drive website traffic among potential target shoppers.

To create an end-to-end digital ecosystem around the re-defined brand and golfers in the super-premium and premium-performance segments, the Group also revamped its customer relationship management (“CRM”) systems in key markets such as Japan, China and the US, to provide consumers with the ultimate 360-degree brand experience, strengthen HONMA’s direct-to-consumer communication and eventually increase sales both online and offline.

HONMA operates the largest number of self-operated stores among major golf companies, with a total of 80 HONMA-branded self-operated stores located in Asia to provide consumers with a 360-degree experience of the HONMA brand and its products. During the Period, the number of self-operated stores remained steady versus revenue growth of 22.0% to JPY7,285.0 million, demonstrating visible improvement in single-store sales through renewed product offering and continued optimisation of HONMA’s retail operations.

Meanwhile, revenue from third-party retailers and wholesalers rose 29.4% to JPY21,686.1 million, as most retailers recovered from the prolonged business disruptions following the COVID-19 outbreak. As of March 31, 2022, the Group’s total POS increased by 209 year-on-year to 4,144.

Re-defining the HONMA brand

The Group is celebrating the 65th anniversary of the HONMA brand in FY2023. In recent years, the Group launched a series of initiatives that helped re-define and transform the HONMA brand as being dynamic, modern and global among younger and internet-savvy golfers. Such initiatives include but are not limited to renewed store visual design, revamped global website, enhanced PR activities and media presence, enriched TEAM HONMA with young, up and coming professional players, and partnership with golf community influencers and celebrities on various social media platforms.

On 20 May 2022, one of the most popular Chinese actors, Li Yifeng, was named as HONMA’s new brand ambassador. The partnership aims to break the stereotype of golf as being old-fashioned and to further broaden HONMA’s reach to a wider spectrum of younger and sport-loving people. Content relating to the partnership gained more than 720 million impressions through online media and generated more than two million visits to the HONMA Tmall store on the same day of the announcement.

Outlook

Despite operating challenges and uncertainties that have persisted throughout the current financial year, HONMA expects pent-up demand to expand golf participation which will give rise to new orders from both golfers and HONMA’s retail partners.

Moving forward, the Group will continue to execute its mid- to long-term growth strategies to become a world-leading golf lifestyle company, by capitalising on HONMA’s brand heritage, its increasing distribution network, breakthrough technology and traditional Japanese craftsmanship.

Faced with the lingering uncertainty presented by the COVID-19 pandemic, the Group will also take proactive measures to decrease costs, optimise liquidity and protect its employees’ health.

Mr. LIU Jianguo, Chairman of the Board, President and Executive Director of HONMA Golf Limited, said: “The management are pleased with the results as we executed the growth strategies successfully. The key lies in the pursuit of perfection and innovation, which have been embedded in HONMA’s genes since its establishment six decades ago. We owe the success to the brilliant HONMA team and the support from all our shareholders. As we celebrate the 65th anniversary of the brand this year, we are committed to building HONMA into a world-leading golf company while continuing to pursue sustainable returns for our shareholders.”

About HONMA Golf Limited

HONMA is one of the most prestigious and iconic brands in the golf industry. Founded in 1959, the Group utilises the latest innovative technologies and traditional Japanese craftsmanship to provide golfers around the world with premium, high-tech and the best performing golf clubs, balls, apparels and accessories. HONMA’s products are sold in approximately 50 countries worldwide, primarily in Asia and across North America, Europe and other regions. The Group was successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited on 6 October 2016 (SEHK stock code: 6858). As the only vertically integrated golf Group with in-house design, development and manufacturing capabilities, a strong retail footprint in Asia and a diverse range of golf clubs and golf-related products, HONMA is perfectly positioned to continually grow its business in Asia and beyond, benefitting from the return of golfers in mature golf markets such as the US and Japan and from increased participation in golf’s new and under-penetrated markets such as Korea and China.

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