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Okta Appoints Stephanie Barnett as Vice President of Presales for Asia Pacific & Japan

SINGAPORE – Media OutReach – 22 June 2023 – Okta, the leading independent identity provider, today announced that it has appointed tech industry executive Stephanie Barnett as its Vice President of Presales for the Asia-Pacific & Japan (APJ) region.

Stephanie Barnett, Vice President Presales, Asia Pacific & Japan, Okta
Stephanie Barnett, Vice President Presales, Asia Pacific & Japan, Okta

Barnett will lead Okta’s team of solution engineers, system architects and technical specialists across the APJ region, assisting the sales team in acquiring and supporting customers and generating growth. Barnett will also oversee pre-sales operations and drive Okta’s scaled strategic, enterprise-wide go-to-market initiatives.

Barnett brings with her nearly 15 years of experience in the tech industry, having served across various leadership roles in sales, solution engineering and business development at IBM, Salesforce and Cloudflare. Barnett was most recently Vice President and Chief of Staff for Asia Pacific, Japan & China at Cloudflare, where she developed go-to-market strategies to drive new market expansion, supported sales growth, and nurtured key customer relationships.

Prior to that, Barnett rose through the ranks during her nine-year tenure at Salesforce to be appointed as Director, Emerging Solution Engineering APAC. In this role, it was imperative that Barnett developed deep working relationships with customers across various industries, understood unique customer requirements and their pain points, anticipated their needs and thereafter developed industry-leading innovative solutions with her team of technology experts.

Ben Goodman, Okta’s Senior Vice President and General Manager for Asia Pacific & Japan, said: “We are excited to welcome Barnett to the Okta family. Her deep expertise in customer experience, data analytics, insights and security are key areas that bring depth to the Okta APJ leadership. This is in addition to her experience in leading solutions engineering and consulting teams, all of which put her in good stead to help organizations across the region heighten their security postures through an integrated digital identity approach, while meeting the evolving needs of customers and employees in the hypercompetitive digital economy of tomorrow.”

“Organizations today need to ensure their security postures and digital identity deployments are able to meet the challenges posed by an ever-evolving cyber landscape while offering end-users a secure, frictionless user experience,” said Barnett. “I am proud to be able to lead Okta’s efforts in helping customers harness advanced identity technologies to meet their whole-of-business needs.”

Based in Singapore, Barnett holds a Bachelor of Commerce in Accounting and Bachelor of Arts in Marketing, Spanish and German from the University of Sydney, as well as a Masters of Innovation and Technology Management, Strategic Management of Risk from the University of New South Wales.
Hashtag: #Okta #Appointment #StephanieBarnett #DigitalIdentity

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

About Okta

Okta is the World’s Identity Company. As the leading independent Identity partner, we free everyone to safely use any technology—anywhere, on any device or app. The most trusted brands trust Okta to enable secure access, authentication, and automation. With flexibility and neutrality at the core of our Okta Workforce Identity and Customer Identity Clouds, business leaders and developers can focus on innovation and accelerate digital transformation thanks to customizable solutions and more than 7,000 pre-built integrations. We’re building a world where Identity belongs to you. Learn more at .

Oasys unveils new visual identity to reflect its ambition to bring blockchain gaming to the masses

SINGAPORE & TOKYO, JAPAN – Media OutReach – 22 June 2023 – Oasys, a gaming-optimised blockchain, officially unveils its new visual identity today—a fresh new look for a pioneer in the gaming and blockchain industries. Aligned with Oasys’ strategic vision, its modernised look and positioning represent its aim to appeal to the global gaming audiences, and to bring blockchain gaming to the masses.

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This year will bring a host of new blockchain game releases from major developers as the market enters a new phase of mass adoption of blockchain technology. Amid this change, Oasys has recognised the need to target a broader and more general audience beyond the crypto landscape, as has often been the case with blockchain projects. By incorporating gaming elements of fun, interaction, and community into its visual identity, Oasys cements its status as a gaming-specific, rather than a general-purpose, blockchain.

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Oasys has tweaked its existing logo, making it flatter and simpler while retaining a multi-layered design that reflects the Oasys ecosystem’s unique architecture. Similarly, they have changed their logo’s text to a design that recalls the buttons on a game controller. The overall colour palette includes colourful accents of pink, blue and yellow on a white background to express the fun of gaming and evoke the world of entertainment, while a neon toned version is also available on a black background, targeting core gamers. At the same time, Oasys reskinned its website (https://www.oasys.games/), introducing elements that emphasise fun and interactivity to highlight that the platform specialises in games.

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The reimagined tagline—Unreal Games Made Real—encapsulates the unique benefits and exhilarating experiences that web3 technologies introduce to gamers. Today, gamers play and pay to earn in-game rewards that only retain their value solely within the virtual confines of the game. In addition to uncompromised speed and zero gas fees, the Oasys blockchain aspires to enable gamers to take their rewards with them across different r games and beyond. This innovative network, along with the games within it, makes it possible for avatars, power-ups, weapons, and a plethora of other in-game assets to be transferred inter-games or to NFT marketplaces. This unfolds a rich “multiverse” of gaming experiences, evoking a sense of awe and wonderment, the kind of “Unreal” world that gamers have always dreamt of. Oasys’ brand aesthetic, inspired by diverse gaming universes, can be previewed on the Oasys’ website. While this exploration is just the beginning, a simplified version is currently available, with future expansions and function improvements planned.

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Meanwhile, to further demonstrate its long-term commitment to developing the future of gaming, Oasys emphasises in its new brand positioning that established names in the gaming industry support it. Major gaming houses such as Sega, Ubisoft, and Bandai Namco have thrown their support behind Oasys. Ultimately, Oasys is building a global standard for the blockchain gaming industry that aims to become a broad platform for a wide range of gaming applications.

Oasys’ visual identity renewal comes in the run-up to IVS CRYPTO 2023, Kyoto, June 28-30, happening alongside the acclaimed Japan Blockchain Week as well as a special parallel event that Oasys is staging at the historic Nijo Castle.

Hashtag: #Oasys #blockchain #gaming #japan

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

About Oasys

Oasys was established in February 2022 to increase mainstream play-and-earn adoption, and at launch, committed to partnering with 25 gaming and Web3 tech companies to act as validators, such as Bandai Namco Research, SEGA, Ubisoft, and Yield Guild Games. Led by a team of blockchain experts and joining forces with the biggest gaming company names to serve as the initial validators, Oasys is revolutionising the gaming industry with its Proof-of-Stake (PoS) based blockchain.

With a focus on creating an ecosystem for gamers and developers to distribute and develop blockchain-based games, Oasys solves the problems game developers face when building games on the blockchain.

The trifecta approach of the fastest network powered by the gaming community, a scalable network powered by AAA game developers and the blockchain offering the best user experience with fast transactions and zero gas fees for users readies participants to enter the Oasys and play.

More information on Oasys is available at:

Website:
Twitter:
Discord:

Lao President Visits Communist Party Secretary in Chongqing, China

Mr. Thongloun Sisoulith, President of Laos, made a visit to Mr. Yuan Jiajun, Communist Party Secretary of Chongqing City (Photo: KPL)

Mr. Thongloun Sisoulith, President of Laos, visited Mr. Yuan Jiajun, Communist Party Secretary of Chongqing, on Monday.

Wiselink Recognised for Outstanding Sales Performance, Expands Reach with New E-commerce Platform

SINGAPORE – Media OutReach – 22 June 2023 – Wiselink, a prominent distributor of electronic components in the Asia Pacific region, has been honoured with the Sales Performance of the Year Award from Cinch Connectivity Solutions, a subsidiary of Bel Group. This recognition underscores the company’s notable sales performance, strong customer support, and capacity to foster business growth through effective collaboration and service delivery.

Wiselink attributes its success to three key factors: a customer-centric approach, innovative solutions, and a highly skilled team of professionals. By prioritising the needs of customers, Wiselink consistently delivers reliable and efficient solutions that encompass a wide range of electronic components such as connectors, resistors, relays and more. These qualities have contributed to the company’s strong reputation in the industry.

Building upon this achievement, Wiselink has recently launched its highly anticipated e-commerce platform, expanding its reach and accessibility for customers. The platform offers a seamless online shopping experience, granting convenient access to its range of electronic components. These solutions have gained widespread adoption across diverse sectors, including telecommunications, automotive and transportation, information systems, and medical and life sciences.

Since its establishment in 1993, Wiselink has been a trusted electronics components distributor in Asia, namely operating in Singapore, Malaysia, Thailand, China, and the Philippines. Through collaborations with renowned manufacturers such as Mill-Max, Coto Technology, Cinch Connectivity Solutions and Pickering, Wiselink offers an extensive portfolio of genuine products that meet ISO9001 requirements. Its diverse product range includes connectors, magnetic components, pogo pins, frequency products, resistors, reed relays, switches, and more. Serving both industrial and commercial users of electronic components, Wiselink prioritises product quality and customer service, providing support throughout all stages of the design-production cycle.

As Wiselink moves forward, it remains focused on enhancing its product and service offerings, forging strategic partnerships, and leveraging emerging technologies to meet evolving market demands. By prioritising innovation, the company distinguishes itself from competitors, striving to deliver solutions that enable seamless connectivity and drive operational efficiency for its clients.

The Sales Performance of the Year Award reaffirms its position as a leading distributor of electronic components in the Asia Pacific region, further establishing its reputation for excellence and customer satisfaction. With the launch of its e-commerce platform, Wiselink is poised to maintain its growth and provide an enhanced experience for customers seeking reliable and cutting-edge electronic components.

For more information about Wiselink and its range of electronic component solutions, please visit https://wiselink.com.sg/.
Hashtag: #Wiselink

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

IPPWORLD Launches Revamped Website to Meet Rising Demand in Language Solutions from the Travel and Hospitality Industries

SINGAPORE – Media OutReach – 22 June 2023 – IPPWORLD, a leading transcreation agency, proudly announces the launch of its newly redesigned website. The comprehensive overhaul reflects the company’s commitment to meeting the increasing demands for language solutions from the thriving travel and hospitality sectors.

In the wake of the global post-COVID travel boom and the growing numbers of Asian communities venturing abroad, IPPWORLD’s native language transcreation solutions serve as a vital bridge, enabling global brands to seamlessly connect and engage with outbound travellers worldwide.

The revamped website showcases IPPWORLD’s expertise in creative translation and content localisation across diverse sectors including hotels, hospitality, travel, tourism, retail and lifestyle.

Among the new additions is the “Success Stories” section, which features compelling case studies highlighting the successful collaborations between IPPWORLD and select clients. By delving into these case studies, visitors gain valuable insights into how IPPWORLD’s transcreation, translation, and localisation services are helping clients achieve their global marketing objectives.

The existing “IPPWORLD Insights” blog section has also been expanded to provide a wealth of regularly updated industry news and trends, including developments in multilingual content marketing. It is an invaluable resource of the latest knowledge for global marketing teams to stay ahead in an ever-evolving landscape.

The travel industry is experiencing a remarkable recovery, particularly following the global-wide lifting of border restrictions. Tourism Boards are reporting substantial surge in tourist arrival numbers as well as high hotel room bookings. According to the United Nations World Tourism Organization (UNWTO), international arrivals in the first quarter of 2023 reached an impressive 80% of pre-pandemic levels.

With such powerful resurgence for the travel industry, as evidenced by the significant rises in tourist numbers and high demands for hotel room bookings, brands are now keenly seeking ways to connect and engage with international travellers. Here, the importance of providing content in the desired languages of these audiences cannot be overstated.

“In addition to frequently requested languages such as Arabic, Chinese, French, Indonesian, Japanese, Spanish and Thai, we have observed growing requests from our clients for additional languages like Khmer, Korean, Tamil and Vietnamese. These are to be offered as optional languages for their websites, as well as for localised marketing content and advertising campaigns”, said Joanne Chan, Global Business Director at IPPWORLD.

To meet the demand from these emerging markets, including Cambodia, Thailand and Vietnam, IPPWORLD is looking to establish an on-site presence.

According to CSA Research, neglecting to provide local language offerings may result in losing up to 60% of the potential market. Furthermore, research indicates that over 65% of potential buyers prefer visiting websites that cater to their language. By incorporating more languages into their global marketing campaigns, brands can reach out to these previously untapped markets and expand their customer base.

With a proven track record of delivering top-notch transcreation and multilingual editorial services, IPPWORLD has built long-standing relationships with leading brands in the hospitality, travel, tourism, retail, as well as lifestyle sectors. Their expertise extends across various marketing touchpoints, covering websites, booking engines, social media posts, CRM assets, food menus, and more.

The revamped website reaffirms IPPWORLD’s commitment to delivering exceptional value, while the company continues to assist current and new clients extend their global reach by connecting and engaging their target audiences in their preferred languages.

Explore IPPWORLD’s refreshed website today at https://www.ippworld.com.
Hashtag: #ippworld #transcreation #business #translation #marketing #localisation #contentmarketing #hospitality #travel #tourism

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

About IPPWORLD

IPPWORLD is an established Singapore-headquartered transcreation (creative translation) and marketing localisation agency, specialised in helping global hospitality, travel, lifestyle and retail brands connect and engage with international audiences in their preferred languages. With over 20 years of experience, IPPWORLD provides one-stop transcreation and localisation solutions to enhance brand communication, boost conversion, and drive revenue growth.

For more information on IPPWORLD, visit .

SHANGHAI TANG SS24 “Source of Strength” Milan Menswear Fashion Week Museum Presentation on 19th June, 2023

MILAN, ITALY – Media OutReach – 21 June 2023 – The Shanghai Tang Spring/Summer 2024 men’s collection draws inspiration from Chinese poet Li Bai’s poem The Daunting Route into the Region of Shu. Following the launch of its 2023 Fall/Winter menswear collection during Milan Fashion Week this January, this summer SHANGHAI TANG once again graces Milan Fashion Week with a unique museum show entitled “Source of Strength”, presenting the 2024 Spring/Summer menswear collection. Drawing from Chinese philosophical tradition, Shanghai Tang takes inspiration from the symbiotic relationship between humans and nature, a primal confrontation that generates vitality and invites introspection. The collection reestablishes a way of communication between tradition and innovation through a style imbued with Chinese elegance.

Held at Museo delle Culture, Milano (MUDEC Museum), a cultural and artistic center, where history, culture, and art of different periods intertwine and collide. MUDEC creates a unique and fascinating space for the presentation. Accompanied by live music, the audience can experience the aesthetic pleasures brought by the harmonious interweaving of art and fashion. Michelin canapes at the Museum’s restaurant Bartolini, accompanied by the use of SHANGHAI TANG’s latest home collection “Crane Garden”, add a touch of Chinese aesthetics to the dining environment that’s both modern and traditional.

2024 Spring Summer Collection Source of Strength

Actor Wang Yang Attended Shanghai Tang SS24 Presentation in Milan Fashion Week Image Credits to Herdes China
Actor Wang Yang Attended Shanghai Tang SS24 Presentation in Milan Fashion Week
Image Credits to Herdes China

Adhering to the brand concept of “Make Life a Party”, the SHANGHAI TANG 2024 Spring/Summer Menswear Launch Event “Source of Strength” enriches the vocabulary of modern fashion by constructing a dialogue between nature and art and creates a festive banquet for the meeting of Eastern and Western cultures surrounded by art, showcasing a unique Oriental style to the international community. The collection takes a journey through historical scrolls, delving deeply into the exploration and innovative experimentation of wisdom with tribute to nature and Chinese culture.

SHANGHAI TANG captures the essence of nature in its design fabrication with an emotional resonance with Li Bai’s poem. As a pioneer of passing on traditional Chinese handicrafts, SHANGHAI TANG has modernized and reinterpreted the long history of the tea silk. The fabric manipulation technique is part of Chinese national cultural heritage which embodies ingenuity and artistry. “Primitive” is a concept that permeates the collection, from the choice of traditional silks treated with natural dyes to natural fabrics such as linen, cotton, and silk, which have undergone stone washes, giving them a raw texture. Tea silks are mixed with a touch of the brand’s iconic fluorescent color. In addition, techniques such as Tucker pleats and sand wash are used to create natural textures.

30th anniversary of the establishment of SHANGHAI TANG


2024 is the Chinese Year of the Dragon, and it happens to be the 30th anniversary of the establishment of SHANGHAI TANG. A brand-new collection for the Year of the Dragon is presented to welcome the significant year. After nearly 30 years of history, SHANGHAI TANG continues to spare no effort in exploring the essence of Oriental aesthetics and the modern expression of the Chinese traditional culture, showcasing Chinese cultural confidence and modern Oriental aesthetics on the international stage.

Hashtag: #ShanghaiTang #MilanFashionWeek #MudecMilano #SourceofStrength #SS24

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

About SHANGHAI TANG

SHANGHAI TANG was established by Sir David Tang KBE, in Hong Kong in 1994. The brand name adopts the transliteration of ‘Shanghai Bund’ in Chinese and humorously combines the English pronunciation of the founder’s surname ‘Tang’. Inspired by the romance and opulence of 1930’s Shanghai Bund, Sir David Tang opened a Chinese-style tailor shop in Hong Kong dedicated to preserving the traditional craftsmanship of Chinese tailoring.

SHANGHAI TANG is renowned for combining unique design concepts with traditional Chinese elements. Innovative fabrication and bold colours are applied with traditional Chinese craftsmanship to create a new contemporary oriental aesthetic. Over the years, many international celebrities have favoured the brand including the late Princess Diana, Gong Li, Nicole Kidman, Kate Moss, Sammi Cheng, to name a few. The brand pays attention to the importance of art to Chinese culture, and continuously collaborates with famous Chinese contemporary artists, such as Liu Ye, Xu Bing, etc., making art one of the core values of SHANGHAI TANG.

Today, SHANGHAI TANG is still leading the exquisite oriental lifestyle, adhering to the core concept of ‘Make Life a Party’. Through traditional Chinese designs, delicate craftsmanship, high-quality products and excellent services, SHANGHAI TANG becomes a recognizable Chinese brand, and extends the allure of contemporary oriental aesthetics to various products and art collaborations. The brand’s product line includes bespoke tailoring services, ready-to-wear, accessories, jewellery, homeware and artworks.

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Global X ETFs: Artificial Intelligence, Robotics & Automation, and Mobility are the key investment themes for 2H2023

SINGAPORE – Media OutReach – 21 June 2023 – Global X ETFs, a leading global provider of exchange-traded funds (ETFs), today announced its 2023 half-year market outlook.

Jon Maier, Chief Investment Officer, Global X ETFs said:

Macro snapshot

  • Inflation is cooling, but not declining fast enough. Core PCE inflation remains above the Fed’s forecasted downward trend. The labor market is tight, with two jobs available for every unemployed person, allowing workers to demand higher wages. Services PMIs are improving, but manufacturing remains in contraction. The Fed skipped a hike in June to assess the effects of aggressive policy tightening, but two more rate hikes are expected starting in July.
  • Updated guidance and hawkish stance from US Federal Reserve on interest rates trajectory in the coming quarters will continue to dominate sentiment in equity and fixed income markets.
  • Market is expecting an economic slowdown as indicated by the inverted yield curve. The fluctuating job data and business sentiment, along with a manufacturing PMI that still exhibits signs of weakness, add to the prevailing uncertainty.
  • Given this uncertain landscape, investors should exercise caution and be highly selective when it comes to sector exposure.

Likely nature of this recession – uneven slowdown

  • Each economic cycle possesses both unique and familiar elements. What sets this recession apart from the 2008 global financial crisis is the uneven slowdown observed across different sectors.
  • The presence of a resilient consumer base with ample savings, along with the post-global financial crisis recovery cycle, has propelled us into a trajectory of asymmetrical/disparate growth as opposed to broad based participation. Meanwhile, disruptions in the global supply chain caused by the ongoing pandemic over the past two years have accelerated inflationary pressures. This, coupled with Geopolitical uncertainties, have further contributed to inflation, necessitating aggressive rate hikes.
  • Economic growth can remain positive yet moderate during late cycles. In this context, investors may consider defensive stocks, particularly large-cap quality stocks, as they can provide downside protection.
  • The valuation of the S&P 500 is currently in line with its 10-year average, with a price-to-earnings ratio of around 22x. This represents a 25% drawdown from the peak seen in 2021[1]. It is likely that the markets have already factored in the worst of the negative earnings scenario.
Michelle Cluver, Senior Portfolio Strategist, Global X ETFs said:

Portfolio Positioning: Quality at the Core, Diversified with Themes

The current market uncertainty emphasizes the need for downside protection, which can be achieved by focusing on large-cap quality stocks. Additionally, incorporating thematic exposure in the portfolio can offer long-term diversification benefits and provide flexibility during shifts in the market cycle. Key themes are as below:

Artificial Intelligence is real and unstoppable

  • Despite the recent market rally surrounding AI-related equities, it is important to recognize that AI is a long-term theme with significant staying power. Researchers have been diligently working on AI, including generative AI, for several years. For instance, OpenAI has already established itself as a key player in the field over the past seven years.
  • While the larger names in the US have dominated the market rally in the past month, there are also opportunities to be found in the broader AI ecosystem. This ecosystem encompasses companies engaged in semiconductors, cloud computing, and cybersecurity, among others, which stand to benefit from the cascading effects of AI advancements.
  • Considering the continuous innovation in the AI space, we anticipate a significant growth trajectory. We expect the global AI market to grow at a CAGR of 35.6% to nearly $300 billion in sales by 2026, 10 times its size in 2020[2].

Onshoring robotics and automation

  • Automation plays a key role in driving efficiency, growth and transforming production processes. It enables companies to achieve higher productivity levels through increased efficiency, cost reduction, and improved product quality.
  • While labor (onshore and offshore) continues to be more expensive over time, robotics costs have declined. This dynamic alongside improving technology is driving the case for adopting automation.

Mobility – Electric Vehicles

  • The adoption of EVs is the primary pathway for reducing greenhouse gas emissions throughout the transport sector. EVs are forecast to account for 36% of global vehicle sales in 2030 and 55% in 2035. As the world moves closer to a net-zero economy by mid-century, EVs could make up more than 75% of sales[3].
  • The deliveries of electric vehicles have been increasing, with a greater emphasis on pure EVs as opposed to hybrids. The mix of vehicles has shifted from 62% pure EVs in 2016 to 71% in 2021[4].
  • The Autonomous Vehicle (AV) market will grow in lockstep with technological advancements. It is forecasted that by 2030, the global market size for AVs could reach approximately 1.8 trillion dollars[5].
  • As these technologies gain wider adoption, numerous key segments beyond the vehicle manufacturers are poised to benefit. These encompass electric vehicle components, such as electric drivetrains, batteries, fuel cells, chemicals, and raw materials, along with companies contributing to AV technology, including sensors, mapping technology, AI, and advanced driver assistance systems. Furthermore, ride-share platforms and network-connected services for transportation will also experience positive effects stemming from the growth of the AV market.


[1] Source: Bloomberg data as of May 31, 2023

[2] Source: Facts & Factors Research, 2021.

[3] Sources: Global X analysis of information derived from Rho Motion, 2022

[4] Source: IEA, May 2022

[5] Source: Precedence Research, January 2022

Hashtag: #globalxetfs

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

China Dongxiang Announces FY2022/23 Annual Results

Operational Efficiency Rises on Omni-channel and Digital Transformation Proposed a Annual Dividend of RMB1.66 per Share with Full-year Payout Ratio of 85%

Results Highlights

  • Revenue amounted to RMB1,679 million, decreased by 12.4% YoY;
  • Profit attributable to owners of the Group posted strong growth YoY to RMB115 million;
  • Basic and diluted profit per share raised substantially YoY to RMB1.96 cents;
  • The Board of Directors recommended the distribution of annual dividend of RMB1.66 cents for the 12 months ended 31 March 2023;
  • Cash and bank balances amounted to RMB2,558 million; net assets value attributable to owners of the Company was RMB9,665 million; current ratio was 8.4 times, reflecting ample liquidity of the Group.

HONG KONG SAR – Media OutReach – 21 June 2023 – The leading international sportswear brand enterprise in the PRC, China Dongxiang (Group) Co., Ltd. (“China Dongxiang” or “the Company”, together with its subsidiaries, “the Group”, HKEX stock code: 3818), announces its annual results for the 12 months ended 31 March 2023 (the “Reporting Period” or “FY2022/23”).

Financial Results
During FY2022/23, the pandemic dealt an unprecedented blow to the overall retail market. With the optimisation measures easing the pandemic control policies introduced by the Chinese government in late 2022, offline customer traffic and the consumer market experienced a speedy recovery. The retail-end performance of sports and recreational apparel industry resumed growth. The Group continued to seize market opportunities through enhancing omni-channel deployment, optimising its business regime on an ongoing basis and accelerating its digitalisation process to improve efficiency and business performance.

During the Reporting Period, the Group registered a revenue of RMB1,679 million, representing a decrease of 12.4% YoY. Profit attributable to owners of the Group was RMB115 million (FY2021/22: loss attributable to owners of the Group was RMB$1,783 million). Basic and diluted earnings per share were RMB1.96 cents (FY2021/22: loss of RMB$30.41 cents), grew substantially YoY. The Board of Directors recommended the distribution of annual dividend of RMB1.66 cents and for the 12 months ended 31 March 2023.

Regarding fund management, the cash and bank balances of the Group amounted to RMB2,558 million as at 31 March 2023. The net asset value attributable to owners of the Company increased by 3.6% YoY to RMB9,665 million. The current ratio was 8.4 times, reflecting ample liquidity of the Group.

Operational Highlights
Deep integration of digitalisation and fashionable sportswear strengthened supply chain management
The pandemic has accelerated the change in the sales pattern of sports and recreational apparel. During the Reporting Period, the Group continued to develop digitalisation and omni-channel as part of its major strategic goals, strengthening the effective cross-regional and cross-boundary connection of online and offline operations, which significantly improved its operational efficiency. The Group also strengthened its supply chain management capabilities and optimised the aging profile of inventories through dynamic monitoring on planning, production scheduling and sales.

During the Reporting Period, the Group focused on product upgrade and optimisation of single-store efficiency to accelerate the efficient turnover of merchandise through omni-channel. As at 31 March 2023, the Group had a total of 1,025 Kappa stores (excluding Kappa Kid’s stores), a net decrease of 158 stores as compared to the same period last year.

Solid adherence to a pragmatic investment approach
The global economy and stock markets experienced significant volatilities during the Reporting Period. The Group has effectively controlled its risks with a cautious approach to investment. As at 31 March 2023, the Group reported a net asset value of RMB8,741 million for its investment segment, representing a growth of 3% YoY, with investment income amounted to RMB131 million.

Mr. Chen Yihong, Chairman and Executive Director of China Dongxiang, said, “Looking ahead, given the resilience of the Chinese economy and the assurance afforded by macro-economic policies of the Chinese government, the overall economic conditions will steadily steer towards recovery. The government has introduced a number of policies for the development of national sports industry, which is favourable to the rapid development of the industry. The Group remains positive and optimistic toward China’s economy and industry prospects. Going forward, the Group will continue to optimise its investment asset portfolio, strengthen cooperation with its investment project managers, advance new project investment in a prudent manner, facilitate timely and prudent divestments of invested projects and optimise post-investment and exit management to generate long-term and stable return for shareholders.”

Ms. Chen Chen, Co-Chairman, Co-President and Executive Director of China Dongxiang, said, “With the optimisation of China’s industry structure, Chinese consumer market has huge potential for upgrading. The Group will fully capitalise on the market opportunities and bring customers a better experience through the development of innovative and functional products to enhance our brand competitiveness. We will fully optimise our omni-channel management and promote online and offline synergies to seize the window period arising from industry transformation brought by the new consumption pattern after the pandemic. The Group is committed to fulfilling its responsibilities as a privately-owned enterprise and driving green development. The Group places a strong emphasis on green management in the manufacturing and sales process, such that our sustainability philosophy is implemented in all aspects of the Group. Going forward, the Group will continue to deepen and broaden its ESG practices in order to live up to our sustainability principles, so that we can promote the long-term development of the industry for the benefit of the society.”

Hashtag: #ChinaDongxiang

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

About China Dongxiang (Group) Co., Ltd. (Stock code: 3818)

China Dongxiang (Group) Co., Ltd. is a leading international sportswear brand enterprise in China which has been listed on the Main Board of the Hong Kong Stock Exchange since 10 October 2007. The Group is primarily engaged in the design, development, marketing and wholesale of branded sportswear in China. Currently, China Dongxiang owns all rights to the internationally renowned Kappa brand in Mainland China and Macau. Since April 2008, the Group became the owner of the brand PHENIX. PHENIX is a well-known skiing brand in the international market.