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Japan to Provide Laos with 600,000 Doses of Covid-19 Vaccine

Japan to provide vaccine aid to Laos

Japan has announced that it will provide Laos with 600,000 doses of Covid-19 vaccine to help the country vaccinate its population.

KEF Delivers First Car Audio System with Uni-Q® Driver Array in Partnership with Group Lotus

HONG KONG SAR – Media OutReach – 14 July 2021 – Gold Peak Industries (Holdings) Limited‘s (“Gold Peak Industries” or the “Group”) (SEHK stock code: 40) premium consumer speaker brand, KEF has announced a partnership with Lotus to bring high-end audio into the next generation of Lotus sports cars and premium electric lifestyle vehicles, commencing with the new Lotus Emira.

For its first automotive partnership, KEF has drawn on its 60 years of audio mastery to create a scalable audio experience which works from the smallest of cockpits to fully immersive 3D surround sound in larger vehicles. Working closely with Lotus, the engineering teams have created a novel flare which acoustically blends the speaker drive units into the car interior to ensure a truly spatial sound experience.

The Emira is the all-new mid-engined premium sports car that perfectly embodies the ongoing transformation of the Lotus business and brand. It features all the hallmarks that the automotive world has come to expect from a Lotus – striking design, thrilling dynamic performance delivering best-in-class ride and handling, outstanding aerodynamics and an unrivalled experience ‘For The Drivers’.

To create a world-class audio system to complement the thrill of the Emira driving experience, KEF has used its unique Uni-Q® technology in a 10-channel sound system. Deployed for the first time in a production car, Uni-Q can reproduce the entire mid and high frequency sound spectrum from a single point in space, delivering a more coherent, hyper-realistic sound experience.

Simon Clare, Executive Director, Marketing, Group Lotus, commented: “We’re delighted that KEF’s first foray into automotive is with Lotus. It’s the perfect partnership – two iconic British brands that have built global acclaim through game-changing innovations and an uncompromising belief that the customer experience is everything.”

Grace Lo, Deputy General Manager, Gold Peak Industries, and President, KEF Audio Group, commented: “KEF is honoured that Lotus selected it to define its new audio experience. We have been truly delighted at the level of commitment Lotus has made to optimising its vehicles to maximise the sound experience. I think the combined experience will be an utter joy!”

About KEF

KEF was founded in 1961 by Raymond Cooke OBE (1925–1995). Headquartered, in those early years, in a Nissen Hut on the premises of Kent Engineering & Foundry in the UK, after more than half a century at the cutting edge of audio the company remains committed to excellence in sound. From ground-breaking Uni-Q technology to the bar-setting LS50 Wireless, KEF’s flair for the unusual – and sometimes controversial – balances an obsession with design in harmony with the most innovative engineering. KEF’s reputation for quality is founded on a refusal to compromise on aural authenticity or experience.

www.kef.com

About Lotus


Lotus Cars builds world-class, high-performance cars, born out of legendary successes on the race track including 13 FIA Formula 1 world titles and many other championship honours. In July 2021 it unveiled the all-new Lotus Emira, its last and best-of-breed petrol-powered sports car. The first customer cars will be delivered in 2022. In July 2019 it launched the Evija, the world’s first all-electric British hypercar.

About Gold Peak Industries

Gold Peak Industries is a world-leading multinational company that engages in the manufacturing and marketing of batteries, acoustics and electronics products, it also owns high-quality industrial investments via GP Industries Limited (“GP Industries”), its subsidiary. Gold Peak Industries has built renowned brand names for its major product categories, such as GP batteries, KEF premium consumer speakers and CELESTION professional speaker drivers.

Gold Peak Industries was established in 1964 and has been listed on the Stock Exchange of Hong Kong since 1984. Currently, Gold Peak Industries holds an approximately 85.5% interest in GP Industries which is publicly listed in Singapore [stock code: G20].

Gold Peak Industries has manufacturing, research and development, marketing and distribution operations in more than ten countries around the world. To learn more about the company, please visit Gold Peak Industries’ website at http://www.goldpeak.com/

#GoldPeakIndustries

The New Razer Barracuda X Multi-Platform Wireless Gaming And Mobile Headset Is Set To Rule

Designed with 4-in-1 Wireless USB-C Connectivity for PC, PlayStation, Nintendo Switch and Android Devices, the Barracuda X promises immersive home gaming and seamless on-the-go audio.

CALIFORNIA, UNITED STATES – Media OutReach – 13 July 2021 – Razer™, the leading global lifestyle brand for gamers (Hong Kong Stock Code: 1337), is proud to introduce the new Barracuda X Wireless Multi-platform Gaming and Mobile Headset. Designed for gaming on multiple devices at home or outdoors, it offers true versatility and freedom backed by long-lasting comfort, powerful drivers, and a crystal-clear mic. The Barracuda X is an all-purpose, 4-in-1 wireless gaming headset compatible with PC, PlayStation, Nintendo Switch and Android devices.

Many modern wireless headsets are designed for use either at home or on-the-go, and switching between devices can be a time-consuming process, with unpairing and pairing over Bluetooth often leading to connection issues. The Barracuda X is conceptualized for ease of use and incredible versatility – its reliable ultra-low latency wireless connection combined with a sleek ergonomic design, powerful Razer TriForce drivers and a detachable, Discord-certified[1] Razer HyperClear Cardioid microphone makes the headset the perfect all-in-one-solution for multi-platform gaming.

“Many of the headsets out there that are marketed for multi-platform use can only achieve this using a wired connection,” says Alvin Cheung, Senior Vice President of Razer’s Peripherals Business Unit. “The Razer Barracuda X combines high-performance gaming features and true 4-in-1 wireless connectivity with the design and ease of use of lifestyle headphones. The result is a single, multi-purpose headset, ideal for all-day-long gaming no matter which platform you are using or where you are.”

One design to rule them all

The Barracuda X was developed from the ground-up as a versatile, multi-platform headset with a strong focus on style and comfort. Leveraging many years of engineering expertise, Razer has integrated their proprietary industry-leading audio technologies in a comfortable wireless gaming headset equally suited for indoor and outdoor use.

The Barracuda X has undergone an extensive design process, dictated by fit, comfort, and simplicity, resulting in a concave surface design for reduced bulk, clean lines, and a harmonious blend between yoke and ear cup, for a sleek, stylish look. The low-profile ear cups are angled to fit every ear shape and can be adjusted and swiveled for a personalized fit. With plush memory foam ear cushions, and a thick, soft, lightweight headband for a pressure-free fit, the Barracuda X weighs just 250g, delivering all-day comfort.

Effortless plug and play

The Barracuda X comes fully equipped with all necessary accessories for the ultimate out-of-the-box multi-device experience. At the heart of the multi-platform capability of this gaming headset is the Razer HyperSpeed Wireless USB-C Dongle. It enables the Barracuda X to seamlessly connect to a PC, PlayStation, Nintendo Switch or Android devices as a plug-and-play device, eliminating the need for Bluetooth pairing and software/driver downloads.

For situations where a USB-C connection isn’t available, the Barracuda X is supplied with a USB-C to USB-A adapter cable, ideal for PC or docked Nintendo Switch use. For further compatibility, a 4-pole, 3.5mm jack is also available when an analog connection is needed. The Barracuda X also comes with a USB-C to USB-A charging cable – a full charge lets the headset run for up to 20 hours of continuous use.


Fine-tuned for full fidelity

The Barracuda X features the latest in Razer’s audio technology. Using the Razer TriForce 40mm Drivers, the Barracuda X provides high-end audio performance for bright and clear audio, with individually tuned high, mid and low range frequencies for clearer trebles, a rich midrange and powerful bass, promising an immersive audio experience.

Featuring a detachable Razer HyperClear Cardioid Mic, the Razer Barracuda X supplies ultra-clear voice comms, regardless of the platform you’re gaming on.​ The microphone on the Barracuda X offers improved voice isolation excluding more ambient noise from the back and sides, increased sensitivity for greater low frequency response, and an optimized housing for added clarity and accurate voice pick-up.

The Barracuda X wireless gaming headset is the one headset to play them all, with versatility, a lightweight design and simple plug-and-play wireless connection for seamless 4-in-1 use across PC, PlayStation, Nintendo Switch, and Android devices.

ABOUT THE RAZER BARRACUDA X

Headphones

  • Frequency response: 20 Hz – 20 kHz
  • Impedance: 32 Ω @ 1 kHz
  • Sensitivity: 96dBSPL/mW@1KHz by HATS
  • Drivers: Customized Dynamic 40mm Driver
  • Inner ear cup diameter: 60 x 40mm
  • Connection type: USB Type C or wired 3.5mm connection
  • Cable length: 1.5m / 4.92 ft
  • Approx. weight: 250g / 0.55lbs
  • Oval ear cushions: Full-ear coverage with fabric and plush leatherette, for sound isolation and comfort

Microphone

  • Frequency response: 100 Hz – 10 kHz
  • Signal-to-noise ratio: ≥ 60 dB
  • Sensitivity (@1 kHz): -42 ± 3 dB
  • Pick-up pattern: Unidirectional
  • Discord-certified

On-earcup controls

  • Volume up and down
  • Mic mute on/off toggle

Audio Usage

  • Wireless audio usage: USB-C dongle
  • Wired audio usage: 3.5mm analog
  • Surround sound: Only available on Windows 10 64-bit

For more information, please see here.

PRICE & AVAILABILITY

$99.99 USD / €99,99 MSRP

Razer.com: July 13, 2021

Authorized resellers: July 13, 2021

PRODUCT ASSETS

Please find the Razer Barracuda X press kit here.


[1] https://blog.discord.com/wth-is-discord-certification-fa024f7e7b72

ABOUT RAZER

Razer™ is the world’s leading lifestyle brand for gamers.

The triple-headed snake trademark of Razer is one of the most recognized logos in the global gaming and esports communities. With a fan base that spans every continent, the company has designed and built the world’s largest gamer-focused ecosystem of hardware, software, and services.

Razer’s award-winning hardware includes high-performance gaming peripherals and Blade gaming laptops.

Razer’s software platform, with over 125 million users, includes Razer Synapse (an Internet of Things platform), Razer Chroma RGB (a proprietary RGB lighting technology system supporting thousands of devices and hundreds of games/apps), and Razer Cortex (a game optimizer and launcher).

Razer also offers payment services for gamers, youth, millennials, and Gen Z. Razer Gold is one of the world’s largest game payment services, and Razer Fintech provides fintech services in emerging markets.

Founded in 2005 and dual-headquartered in Irvine (California) and Singapore, Razer has 17 offices worldwide and is recognized as the leading brand for gamers in the USA, Europe, and China. Razer is listed on the Hong Kong Stock Exchange (Stock Code: 1337).

Razer – For Gamers. By Gamers.™

#Razer

Realme C21Y Launches with UNISOC T610 Chipset

SHANGHAI, CHINA – Media OutReach – 13 July 2021 – The world’s fastest-growing smartphone brand, realme, launches the realme C21Y, the world’s first smartphone with TÜV Rheinland High-Reliability Certification. Based high quality, realme C21Y comes with more leap-forward features. AI Triple Camera with Super Nightscape, 6.5″ HD+ mini drop fullscreen, UNISOC T610 Octa-core 12nm processor, and a large 5000mAh battery, realme C21Y is designed to bring leap-forward experience to young users.

With the Unisoc T610 processor inside, realme C21Y is the most powerful phone in this segment. Unisoc T610 is an octa-core 12nm processor that clocks up to 1.8GHz. The CPU is consisting of two high-performance A75 cores at 1.8GHz and six power-saving A55 cores at 1.8GHz. The GPU is the energy-efficient Mali G52, which can reach up to 614.4MHz. The performance of the chipset is equivalent to Qualcomm Snapdragon 665. It also has better performance in imaging. The selfie camera supports AI beauty, HDR mode, portrait mode, and Filter, designed for trendsetting photography.

T610 is made by UNISOC, with UNISOC’s integrated industrial circuit design.UNISOC covers 2G/3G/4G/5G, Wi-Fi, Bluetooth, TV FM, satellite communications, and other full-scale communication technology, with large-scale chip integration capability. UNISOC’s products cover mobile communication CPU, baseband chips, AI chips, radio frequency front-end chips, radio frequency chips, and other communication, computing, and control chips. They are found in more than 500 consumers like Honor, Realme, Motorola, Hisense, Nokia, Transsion, Lenovo, ZTE, TCL, Meizu. Terminals equipped with UNISOC products include smartphones, tablets, smart wearable devices, early childhood education machines, Bluetooth headsets, in-car central control, smart POS machines, smart TVs, smart meters, CPE, shared bicycles, and more.

“Leading 5G and Connected Impact ” UNISOC Sparkles at MWC 2021 In Barcelona

SHANGHAI, CHINA – Media OutReach – 13 July 2021 – The 2021 Mobile World Congress (MWC), the world’s most influential exhibition in the field of mobile communications, was held in Barcelona, Spain from June 28th to July 1st with the theme of “Connected Impact”. As one of the exhibitors, UNISOC set “Garden in the City Center” as its original intention of design and adopted the innovative exhibition scheme of the unmanned booth, attracting many visitors.

Highlight 1: Garden in the City Center

The original intention of the design of UNISOC was based on “Garden in The City Center”, which conceived the hope that every visitor can be attracted by the “Garden” in the exhibition hall. Barcelona has pleasant weather in June. Hence, UNISOC brought the scenery from outside of the exhibition hall to the inside. This “UNISOC Garden” not only brought more real and wonderful experiences to all visitors online and offline, but also embodied the determination of UNISOC – as the backbone of the Digital World – to shoulder the ecological responsibility.

Highlight 2: Unmanned Booth, Remote Communication

The unmanned nature of the booth was a notable feature of the UNISOC exhibition. In the booth area, there was no on-site service personnel like in a conventional exhibition. On the contrary, the communication between relevant personnel and exhibitors was ensured by the adoption of remote connection through online video.

As the onslaught of the pandemic rampages across the globe technology enterprises have taken into account their responsibilities to employees, ensured close communication with customers, and continued to expand overseas business with the help of science and technology.

UNISOC, the world’s first 6nm EUV 5G chip T770, the industry’s first 5G NB-IoT chip V8811, and other 43 intelligent solutions gathered at the 2021 MWC Barcelona booth, bringing a strong product matrix including 5G mobile communication, consumer electronics, industrial electronics, and ecological products.

In terms of consumer electronics, UNISOC exhibited ZTE Grand S II Axon20, Huawei Honor Play 20, Motorola G20, and many other smartphones.

At present, UNISOC ranks first in the global children’s smartwatch market, accounting for 60% of the market. UNISOC brought three kinds of smartwatches, namely imoo WATCH PHONE Q1A, MITU 4X, and Jeep F-X1, which are equipped with W307, 8521E, and 8541E chips respectively. They not only provide stable calls but also integrate Wi-Fi and GPS positioning functions. In addition to cell phones and watches, UNISOC also displayed innovative products such as an intelligent helmet for city bicycles, electric mobiles, ALLDOCUBE and TELCAST M40 smart tablets, as well as Sogou voice recorder S1.

From an industrial electronics perspective, there have been several modules and industrial terminals equipped with UNISOC 5G chips on the market, and they have been applied in logistics, power, mining, transportation, manufacturing, and other industries. In addition to 5G, in the field of medium-speed cellular IoT, UNISOC successfully pushed the Cat. 1bis single antenna scheme into the 3GPP standard with standard strategy, and with the world’s first Cat. 1bis chip, the LTE Cat. 1 100 million-level new market was launched, and the market share of Cat. 1 IoT chips ranked first in China, accounting for more than 70%.

In this exhibition, UNISOC exhibited a variety of standard IoT modules, intelligent MiFi, intelligent meter, intelligent sensor, intelligent receivables announcer, intelligent POS machine, intelligent electronic student ID card, Hello mop-up, intelligent OBD terminal, intelligent vehicle products, etc., which are equipped with UNISOC chip industry products and solutions. All the aforementioned have been commercially implemented in a variety of application scenarios for all walks of life, enabling a truly intelligent industrial system and society.

UNISOC is an integrated circuit design industry enterprise. In 2018, the two companies, Spreadtrum and RDA, merged to form UNISOC. At present, Unisoc’s headquarters is in Shanghai. In addition, it has 17 technology R&D centers and seven customer support centers around the world.

It is one of the companies in the world that fully masters 2G/3G/4G/5G, Wi-Fi, Bluetooth, TV FM, communications, and other full-scene communication technologies, and has the ability of large-scale chip integration. UNISOC products include a central processing unit (CPU), baseband chips, AI chips, RF front end chips, RF chips, and other communication, computing, and control chips. From consumer electronics to industrial electronics, many innovative products such as mobile phones, tablets, smart wearables, rear-view mirrors, translation pens, smart water meters, and electricity meters, and shared bicycles are widely used by UNISOC chipsets.

UNISOC’s business covers 128 countries around the world, has passed the shipping certification of 200+ operators around the world. And, UNISOC has customers all over the world including Hisense, Motorola, ZTE, TCL and Nokia, and so on.

Velocity Global Acquires Shield GEO in Second Growth Transaction This Year

  • Company continues to scale leading global work platform
  • Follows acquisition of iWorkGlobal in April
  • Combined company serves more than 1,000 brands and over 7,000 supported employees this year

DENVER, US – News Direct – 13 July 2021 – Velocity Global continues to scale its leading global work platform with the acquisition of Shield GEO, an established global Employer of Record (EoR) provider. This is Velocity Global’s second acquisition this year, after it acquired iWorkGlobal in April.

Velocity Global acquires Shield GEO

The company deployed capital from the $100 million growth investment from FFL Partners announced in April to complete the transaction. Terms of the deal were not announced.

Velocity Global adds scale to its global work platform that simplifies the employer and employee experience. The platform combines the company’s cloud-based workforce management technology, personalized expertise, and unmatched global scale. Users access automated technology as well as partner with a dedicated experience team for individualized solutions and expertise.

As the largest global EoR in 185 countries and all 50 United States, Velocity Global manages a client’s workforce by providing in-country and in-state compliance, payroll, and benefits for the supported employees. The company also offers Independent Contractor Compliance to assess a workforce and Agent of Record (AoR) to streamline payments to contractors globally.

“For the last seven years we built our platform to support how and where work gets done. This now allows us the strategic position to scale up to meet the accelerated demand from the shifting workforce,” said Ben Wright, Velocity Global founder and CEO. “Both sides of the employment equation — employers and employees — fundamentally changed in the last 18 months. It’s not just about working from anywhere, it’s about how to recruit, how to retain employees, how to grow revenue, and how to manage a newly empowered work-life balance.”

The “future of work” or gig economy is worth $4.5 trillion according to a 2020 report from Staffing Industry Analysts.

“Velocity Global’s continued profitable organic growth sets the foundation for further scale through strategic acquisitions,” said Cas Schneller, FFL Managing Partner. “Both of the company’s recent acquisitions were of profitable, strong businesses at a time when scale is needed to match the market. Velocity Global strengthens its leadership position in the future of work.”

The combined company serves more than 1,000 brands and over 7,000 supported employees this year. Velocity Global is registered in all 50 United States and continues to grow its footprint to include 50 wholly owned foreign legal entities in the most desired international markets by year’s end.

“We share a proud history of organic growth, and now was the time to combine the global reach of Shield GEO with that of Velocity Global, and deliver an even greater experience that the market is demanding,” said Duncan Macintosh, Shield GEO co-founder. “This combination multiplies the growth opportunity for our team.”

“We have known Ben and Velocity Global for a long time and we’ve always viewed our industry similarly, especially in terms of how we service our customers and the employees that we support for them,” said Tim Burgess, Shield GEO co-founder. “Delivering a great human-focused customer experience is important to all of us. We are excited by what our combined teams can do together.”

Shield GEO is based in Hong Kong with entities in the U.K. and Australia, and a global remote team. The combined company welcomes all 75 Shield GEO employees and is led by Wright under the Velocity Global brand. Burgess and Macintosh will support the integration of Shield GEO into Velocity Global.

ABOUT VELOCITY GLOBAL

Velocity Global accelerates the future of work beyond borders. Its global work platform simplifies the employer and employee experience through cloud-based workforce management technology, personalized expertise, and unmatched scale. As the largest global Employer of Record (also known as International PEO) in 185 countries and all 50 United States, more than 1,000 brands rely on Velocity Global to build global teams without the cost or complexity of setting up foreign legal entities or state registrations. The company offers additional services including Independent Contractor Compliance to assess a workforce, and Agent of Record (AoR) to streamline payments to contractors. Velocity Global was named a “Leader” in Global Employer of Record services by prominent analyst firm NelsonHall. Founded in 2014, the company has hundreds of employees in 27 countries. For more information visit velocityglobal.com.

Company Website

https://velocityglobal.com/

#VelocityGlobal

Hong Kong Baptist University secures funding from RGC Theme-based Research Scheme to build platform technologies for symbiotic creativity

HONG KONG SAR – Media OutReach – 13 July 2021 – A research project led by Hong Kong Baptist University (HKBU) entitled “Building Platform Technologies for Symbiotic Creativity in Hong Kong” has been awarded HK$52.8 million in research funding from the Theme-based Research Scheme (11th round) under the Research Grants Council (RGC) for a five-year project. This is the first time that major funding has been allocated by the RGC for an art-tech project.

The research team led by Professor Guo Yike, Vice-President (Research and Development) (right) and Professor Johnny M Poon, Associate Vice-President (Interdisciplinary Research) at HKBU has been awarded HK$52.8 million in research funding from RGC to develop platform technologies for symbiotic creativity.

The research team will develop platform technologies for symbiotic creativity, providing unlimited art content for humans, including an art data repository, an artificial intelligence (AI) creative algorithm system, a research theatre, a digital art and policy network, and some unique and creative application projects, to usher in a new era of art technology.

Led by Professor Guo Yike, Vice-President (Research and Development), and Professor Johnny M Poon, Associate Vice-President (Interdisciplinary Research), at HKBU, the research team will develop an immersive and interactive extended reality (XR) platform to capture human data during the artistic creation and appreciation process, which includes the cognitive and physiological data of artists and the audience, such as brain waves, body temperature and heart rates, gait and movements, etc. The platform will then convert the data into the descriptors of cognition, emotions, and behavioural patterns.

The researchers will associate and link the artworks with the descriptors to build a comprehensive and extensive data repository for artificial intelligence model training. It will enable machines to learn human aesthetics, instead of mimicking art created by humans.

The platform will also enable the audience to immerse themselves in a virtual world. They will be surrounded by images, sounds, etc, and have new artistic experiences. In addition, the immersive and interactive XR platform will be equipped with a number of sensing devices, which will help the artists to go beyond the traditional forms and boundaries and communicate and interact with the audience in new ways.

“This research project has secured funding from the RGC, demonstrating that Hong Kong attaches great importance to the development of artistic and creative technologies based on AI. This project stands at the forefront of the arts and science nexus, harnessing the power of science and technology to advance human and AI interaction in art creation. It will foster a new direction in art created by both humans and machines,” said Professor Guo.

“We will spare no effort in building a world-class AI art creation platform, and it will drive a new revolution that transforms the creative and cultural industries. It will enable Hong Kong to assume a leading position in art-tech on the global stage,” he added.

Under this project, HKBU will launch three application projects: the Super AI artist – the world’s first “Combined Music and Art Biennale”, which will host multidisciplinary musical works and artworks jointly created by humans and AI; Shared Mind and Empathetic AI – a concert series featuring a three-way collaboration between performers, the audience and machines; and Symbiotic Opera – a new form of opera that integrates with immersive XR technology, and it will be jointly created by humans and machines in an immersive virtual world.

Members of the multidisciplinary research team led by HKBU include cognitive scientists, AI and data scientists, media scientists, ethicists and art policy scholars from Yale University, the University of Cambridge, Imperial College London, the University of Kent, Tsinghua University, the University of Hong Kong and City University of Hong Kong. The research team will also collaborate closely with industrial and musical partners, including Huawei, Microsoft, SenseTime and Opera Hong Kong.

#HongKongBaptistUniversity #HKBU

Johnson Electric reports Business and Unaudited Financial Information for the First Quarter of Financial Year 2021/22

HONG KONG SAR – Media OutReach – 13 July 2021 – This news release is made by Johnson Electric Holdings Limited (“Johnson Electric” or the “Company” and together with its subsidiaries, the “Group”) for the business operations and selected unaudited financial information of the Group for the three months ended 30 June 2021.

The Board of Directors of the Company considers the publication of quarterly sales performance updates to be consistent with international corporate disclosure best practice. The objective of this announcement is to provide transparency and to ensure that investors and potential investors receive equal access to the same information at the same time.

The Group’s sales for the quarter ended 30 June 2021 were US$877 million compared to US$517 million for the same quarter in 2020, an increase of 70%. It should be noted that sales in the same quarter of the prior financial year were significantly impacted by the COVID-19 pandemic.

Excluding currency movements and acquisitions, sales increased by 61% to US$831 million. Foreign exchange rate movements had a positive effect of US$45 million on the Group’s sales for the quarter. This was mainly due to the impact of stronger average exchange rates for the Euro, the Chinese Renminbi and the Canadian Dollar against the US Dollar, compared to the same quarter in 2020.

The acquisition of E. Zimmermann GmbH (“Zimmermann”), a specialist automotive machining business based in Germany, on 31 May 2021 added US$1 million to sales for the quarter ended 30 June 2021.

Sales of Automotive Products Group (“APG”)

APG’s sales for the quarter ended 30 June 2021 increased by US$313 million or 87% compared to the same quarter in 2020. Excluding the acquisition of Zimmermann and currency effects, APG’s sales increased by US$270 million or 75% in the quarter, with the following changes by region:

  • Asia increased 21%
  • Europe increased 128%
  • Americas increased 157%

A large part of this increase was due to the rebound in light vehicle production volumes especially in Europe and the Americas where sales were significantly lower in the same quarter in 2020, when many customer plants were shut down due to COVID-19. Nonetheless, APG’s sales growth in the period exceeded the increase in production volumes for the automotive industry overall in all regions. Sales benefitted from new and recent programmes for window-lift, sunroof and power-lift gate, braking, seat and thermal management applications. APG also experienced increased customer demand for its products for heating, ventilation and air-conditioning, lighting, steering and fuel cell applications.

Sales of Industry Products Group (“IPG”)

IPG’s sales for the quarter ended 30 June 2021 increased by US$47 million or 30% compared to the same quarter in 2020. Excluding currency effects, IPG’s sales increased by US$43 million or 27% in the quarter, with the following changes by region:

  • Asia increased 33%
  • Europe increased 24%
  • Americas increased 23%

Sales in the lawn and garden, white goods, window automation and other home-centric segments demonstrated particularly strong growth due to a combination of recent programme launches, new business wins and increased market demand. Sales in the medical segment increased, as automated surgical tools took some market share from manual medical devices.

Additionally, it should be noted that sales to some of IPG’s smaller customers and distributors were adversely affected by the COVID-19 pandemic in the same quarter in 2020.

Chairman’s Comments on First Quarter’s Sales Performance and Outlook

Concerning the first quarter’s sales performance and outlook for the current financial year, the Chairman and Chief Executive, Dr. Patrick Shui-Chung Wang, said, “Johnson Electric’s positive business trajectory in the second half of the past financial year continued in the first quarter of FY2021/22. This was achieved despite ongoing global shortages of semiconductors that, combined with other supply chain bottlenecks, are hampering sales fulfilment for some of our business units. And, as noted in previous investor guidance, the sharp increase in commodity prices that accompanied the global economic rebound is also exerting pressure on gross margins in the shorter term.”

“Nonetheless, we continue to experience strong customer demand in all regions for our portfolio of innovative motion products and technology solutions that are designed to address the key growth drivers in the end-markets that we serve. In the automotive sector, these include electrification, emissions reduction, fuel economy, higher safety and greater comfort. In industrial and consumer markets, the focus is on energy efficiency, increased controllability and cost-effective solutions that improve health and well-being. Across each of these areas, I am confident that Johnson Electric is exceptionally well positioned to compete and win. In summary, the Group remains firmly on track to deliver healthy sales growth in the current financial year.”

Cautionary Statement

Shareholders and potential investors in the Company are reminded that the information provided in this news release, including information related to the expected outlook for the full year, is based on the Group’s unaudited internal records and management accounts. This information has not been reviewed or audited by the Company’s auditors.

Shareholders and potential investors should exercise caution when dealing or investing in the shares of the Company.

About Johnson Electric Group

The Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 35,000 individuals in 22 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: www.johnsonelectric.com.

#JohnsonElectric