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China Lilang Announces 2020 Annual Results

Revenue at RMB2,681 Million Net Profit at RMB557 Million Total Dividend for the Year at HK44 Cents Per Share

 

HONG KONG SAR – Media OutReach – 18 March 2021 – China Lilang Limited (“China Lilang” or the “Company”, together with its subsidiaries, known as the “Group”; stock code: 1234) today announced its 2020 annual results.

Results highlights

  • Revenue at RMB2,681 million
  • Net profit amounted to RMB557 million
  • Earnings per share were RMB46.53 cents
  • Proposed a final dividend of HK19 cents per share and a special final dividend of HK8 cents per share, maintaining a relatively high payout ratio
  • New retail business developed rapidly, with online store sales up more than 1.2 times year-on-year

Mr. Wang Dong Xing, Chairman and Executive Director of China Lilang, said,

“In face of the complex and volatile retail market, China Lilang adopted flexible strategies and promoted the new retail business to give full play to complementary advantages of online and offline. The Group also strived to keep the channel healthy and decisively cancelled some of the spring and summer orders while strictly controlling pre-orders for the fall and winter collections. The total retail sales of LILANZ products resumed growth in the second half of the year, and total retail sales growth in the fourth quarter reached 10-15%, primarily benefiting from the nationwide cold weather. Both the inventory level and its ageing have improved. During the year, the Group launched a number of brand promotional campaigns, which won multiple awards from the advertising industry, further enhancing LILANZ’s brand awareness and reputation.

For the year ended 31 December 2020, revenue of the Group decreased year-on-year by 26.7% to RMB2,681 million. The amount was after the provision of HK$390 million made for inventory buy-back in respect of the conversion of some of the core collection stores to consignment model starting spring and summer 2021. Profit from operations decreased by 33.5% to RMB651 million. Operating profit margin was down by 2.5 percentage points to 24.3%. Net profit was RMB557 million, down by 31.4%. Earnings per share declined 31.4% to RMB46.53 cents.

The Group maintained a healthy financial position with sufficient cash flows. The Board of Directors recommended payment of a final dividend of HK19 cents per share and a special final dividend of HK8 cents per share. Together with the interim dividends already paid, total dividend for the year amounted to HK44 cents, maintaining a relatively high payout ratio.

Combating the challenges the pandemic brought to its business, China Lilang speeded up the development of its new retail business during the year. By mounting different promotional and marketing activities online, the Group attracted more customer traffic to its online stores, as such, online store sales increased by more than 1.2 times year-on-year. In addition to online stores, the Group had set up stores on WeMall Mall for its smart casual collection and core collection, a move to promote its brand via the social media platform and also enlarge the virtual inventories of physical stores, resulting in higher sales efficiency per store and enabling more effective inventory control.

During the year, the Group actively enhanced management of its sales channels. After the conversion of the smart casual collection from consignment model to direct-retailing in the second half year of 2020, the inventory control of the collection has improved and inventory balance reduced. The Group also pragmatically optimized its retail network by closing underperforming stores and opening stores in carefully selected quality shopping malls to enhance the efficiency of stores. In addition, the Group encouraged distributors to open stores in outlet malls in the second half of the year as a recurring channel for inventory clearance. At the year end, LILANZ had a total of 2,761 retail stores, representing a net decrease of 54 stores. The number of stores in shopping malls was 807, accounting for 29% of the total store count and approximately 32% of total retail floor area.

As for brand management and promotion, the Group increased promotion activities during the year to showcase LILANZ’s young product positioning. In the fourth quarter, the Group engaged Han Han and Li Dan as brand ambassadors and carried out a series of promotional campaign featured by the brand-new duo, which attracted tremendous attention from the market and customers, and were included among the “2020 Top 15 Best Commented Cases” by the Advertising Gate APP. During the year, the Group launched LILANZ crossover products with China Daily, Chinese comic “Under One Person”, Japanese cartoon “Doraemon”, 80s US graffiti artist Jean Michel Basquiat and emerging artist Nick etc., respectively. The promotional campaign for LILANZ X CHINA DAILY products won the “Gold Case Award” and was accredited among the “Top 100 Branding Cases of the Year” at the ADMEN International Award Presentation Ceremony. In addition, the in-depth interactive communication in colleges in respect of the promotion of LILANZ as the business wear brand of the new generation won the “Brand Rejuvenation Award” and the “Top 10 Brand Rejuvenation Cases Award” at the ADMEN International Award Presentation Ceremony.

In 2021, China Lilang will adopt a prudent strategy for store openings which will focus on optimizing the existing store network, and will further strengthen the management of the retail network. The Group will continue to add more stores in quality shopping malls in provincial capitals and prefectural level cities and will also add stores in outlets as a recurring channel for inventory clearance. The plan for the year is to add 100 to 150 stores and the target for total retail sales growth is 10% or more.

In order to more closely control the retail stores and reduce inventory risk, the Group will reform the operation model of the core collection in 2021 by converting selected distributors with higher management capability to the consignment operation model starting from the 2021 spring and summer collections. Under the consignment model, the Group would be able to manage inventory more effectively as product transfers will be more flexible. The consignment model would also enable the virtual inventory of individual stores to expand, and thus help improve store efficiency. Furthermore, the consignment model will allow the Group to continue to leverage the retail management talents of distributors while using the Group’s financial resources to accelerate channel upgrade in any particular regions by adding stores in quality shopping malls in provincial capitals and prefecture level cities. As part of the change to the consignment model, the Group would buy-back from these stores past-season products totalling about RMB390 million as at 28 February 2021. Provision for such inventory buy-back was made in 2020 and deducted from the revenue.

Regarding new retail business, the Group has turned its online stores into self-operating, instead of distributor-operated stores, since January 2021. This could improve the management and control of online stores and facilitate the launch of special edition products online. Online stores have been set up on the WeChat Mall for both the core collection and the smart casual collection. It is expected that the customer base of the WeChat store will continue to expand, complementing the physical retail stores with virtual inventory to increase sales efficiency.

As for brand promotion, the Group will continue to organize a range of activities through online and offline channels to promote its brand, and launch crossover products with China Daily or other parties. The Group also plans to use new store images to attract more customers. The seventh-generation store image renovation of the core collection will gradually roll out to existing stores, with a plan to cover about 500 existing stores in 2021. It also plans to launch a new store image for the smart casual collection in the second half of 2021.

The Group’s new headquarters in Fujian officially commenced operation in February 2021. Phase I of the new logistics park is expected to open in the second half of 2021, which will facilitate better inventory management within the Group.

Mr. Wang concluded,

“At the Chinese government’s effective epidemic control measures, the mainland economy has been recovering quickly. With that plus the new structure of dual circulation as proposed by the central government which encourages residents to expand consumption, and in turn drive economic growth, the Group is cautiously optimistic about development of the retail market. Looking ahead to 2021, building on its solid brand foundation, China Lilang will adopt a prudent approach towards market development, focus on optimizing its existing store network and strengthening management of its retail network. Apart from stepping up growing the new retail business, it will also enhance sales and marketing and inventory management to boost its stores efficiency. The Group will continue to adhere to the strategy of providing products that represent excellent value for money. After the efforts made in the past few years in upgrading research and development and supply chain management, the Group now affords products that stand out in original design with great value-for-money. The Group is confident that its business will continue to outperform those of its peers. We will continue endeavoring to enhance the competitiveness and value-for-money of our products over the long run so as to further consolidate our leading position in the menswear industry in China and realize sustainable long-term growth”

About China Lilang

China Lilang is one of the leading PRC menswear enterprises. As an integrated fashion enterprise, the Group designs, sources and manufactures high-quality business and casual apparel for men and sells under the LILANZ brand across an extensive distribution network, covering 31 provinces, autonomous regions and municipalities in the PRC.

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The Lung Fung Mall is launching a selection of limited-edition items for Japanese Sakura festival 2021

Pop-up event: More than 3000 gift packs and $500 cash vouchers for online shopping will be given away

 

HONG KONG SAR – Media OutReach – 18 March 2021 – the beginning of spring is marked by the annual cherry blossom festival. Since the ‘cherry blossom extract’ extracted from Sakura can enhance rough skin, alleviate allergies, and whiten skin with excellent skin care effects. Hence, Sakura-infused products have become increasingly popular, and they are in high demand. Lung Fung Group has set up a cherry blossom theme counter this year to collect a range of famous cherry blossom products, such as skin care, sunscreen, and household items, so that customers can shop in Lung Fung Mall as if they were in Japan.

Please download high-resolution photos from here:

https://www.dropbox.com/sh/nioyhudatxymx1j/AABHbVj_gnB_QNJduMFulEy-a?dl=0

Lung Fung Sakura Series Product

ALLIE Allie Nunace Change UV Gel PK Sunscreen 60g

Price:$138

The product includes high-shine light-sensing particles that help to brighten the skin and disperse bright blood and gloss; the flavor and fragrance technology can cover sweat, and it can be gently removed with regular facial cleanser and shower gel.

KOSE Suncut UV Protect Spray SPF50+ PA++++ (Sakura Limited Edition) 90g

Price:$58

The lavender light purple and subtly vivid pearl tones effectively neutralize yellowish skin tone while enhancing the natural rosy feeling. The skin is naturally transparent without whitening after application. It is also blended with cherry blossom moisturizing essence for a smooth and soothing feel. It disintegrates makeup, has a translucent feel, leaves no powder residue after use, and is effectively waterproof.

Estee Lauder Micro Essence Skin activating Treatment Lotion Fresh with Sakura Ferment 400ML

Price:$803

Sakura yeast is harvested from Kenrokuen, one of Japan’s three popular gardens. It contains skin-soothing ingredients that help to clear acne and stabilize the skin. The micro essence contains yeast ingredients to shrink pores and brighten skin tone.

Shiseido – Aqua Label Special Gel Cream Moist All-in-one Facial Moisturizer (Sakura Limited Edition) 90g

Price:$138

5 in 1 make-up spray, essence, lotion, cream, and facial mask in one bottle; light cherry blossom aroma, soothing texture without feeling sticky. High concentration of collagen GL and double hyaluronic acid that can penetrate the stratum corneum; super moisturizing able to keep the skin moisturized and supple for a long period of time.

COCOCHI COSME AG Ultimate Facial Mask Sakura (5pcs/pack)

Price:$148

The Sakura extract can refine pores and relieve sensitivity, it is also known as ‘red gem’, which has excellent moisturizing effect and balances the skin condition; praise spread from Japan to Europe, and it won the European Monte Gold Award.

ar FÜM Laundry Capsule (Sakura Limited edition) 36 pieces in box

Price:$71

It has a laundry and soft 2 in 1 feature, which can deeply clean clothes and remove odors while giving them a floral and soft touch; the fragrance can last for up to 18 hours; and it’s easy to use, simply drop the laundry beads into the washing machine, and that’s it.

Pop-up event in East Kowloon

Simply sign up as a Lung Fung online shopping member, you will receive a generous gift package as well as a $500 online shopping cash coupon.

Date:22nd March, 2021

Time: 1100-1500

Roadshow location:Shop 3, G/F, Eastmark, 21 Sheung Yuet Road, Kowloon Bay (in front of LY Bakery)

Date:23rd March, 2021

Date: 1100-1500

Roadshow location:Outside the Kowloon Bay International Trade Centre (near Megabox)

Date: 25th – 26th March, 2021

Date: 1100-1500

Roadshow and leaflet distribution location:Kwun Tong MTR Exit A1 (near Yuet Man Square)

News Direct and Media OutReach Form Distribution Partnership for Asia Pacific and America

Two Industry Disruptors Share Their Strong Distribution to Benefit Global Clients

 

NORWALK, US & HONG KONG SAR – Media OutReach – 18 March 2021 – News Direct and Media OutReach – two newswires that are revolutionizing the news distribution industry with advances in technology, analytics, security and workflow – have entered into a reciprocal press release distribution arrangement covering the United States and Asia Pacific region.

Media OutReach clients will benefit from News Direct’s full-fledged access to The Associated Press distribution network in the US, which includes the nation’s leading newspapers, magazines, radio and television stations, and online sites. Additionally, releases are posted to AP’s popular app and apnews.com, the news agency’s heavily trafficked consumer-facing site.

News Direct’s geographic distribution capabilities are supplemented by its robust industry-specific reach, allowing for highly relevant targeting. Trade sector and consumer-focused lists are refreshed with each use for maximum effectiveness. The partnership also allows Media OutReach clients to issue multimedia such as infographics, videos and images as independent assets in line with journalistic preferences. As a confirmation of ROI, clients receive a robust Performance Report that includes postings on major portals including Yahoo! Finance and MarketWatch.

Media OutReach is the first global newswire founded in Asia Pacific and has a unique, in-depth understanding of the media landscape in the region. Its success has been driven by its technology-led distribution platform with an unrivalled Asia Pacific network, comprehensive database and precise editorial targeting capabilities which has proven to be highly-effective for PR professionals to reach out to journalists and editors – including influencers in their target media and countries. Through this partnership, News Direct’s clients can expand their reach and build direct connections with journalists in the region.

Additionally, News Direct clients can leverage Media OutReach’s extensive media partnerships which guarantee online postings. As such, they will see their stories posted on leading news portals such as SINA, Viet Nam News and AsiaOne among others, further enhancing their exposure in Asia Pacific.

News Direct clients will have access to the Media OutReach automated post release reports which provide qualitative and quantitative performance metrics. Importantly, this includes access to the proprietary Media and Journalist Insights dashboard, which provides insights such as the interaction between journalists and the press release including story open rates by publication, by country and eventual write ups.

“News Direct aims to differentiate itself in many ways,” noted founder and CEO Gregg Castano. ” but above all we want to be known for the unrivalled quality of our distribution network. We are proud to partner with Media OutReach, which has earned its reputation as Asia’s most innovative and dynamic distribution service.”

Jennifer Kok, founder and CEO of Media OutReach said, “This partnership enhances our USA distribution capabilities and customers can now distribute their news release and multimedia through its leading-edge delivery platform in America. Overall, this adds further strength to Media OutReach’s global distribution network, and we are pleased to be working with News Direct. The team at News Direct are industry veterans, many of whom are formerly from Business Wire and have built on their expertise to create an exceptionally strong distribution platform and service.”

About News Direct

News Direct provides news and content distribution for PR, IR, Corporate Communications and Marketing professionals. Our automated platform delivers a completely-reimagined, intuitive workflow, industry-leading security, transparent, flat-rate pricing and actionable analytics. Further, News Direct has deployed an array of innovation including advanced automation, isolation cloud technology and custom software for the most dynamic, efficient and flexible platform available today.

To learn more visit newsdirect.com or follow us on LinkedIn, Twitter, Facebook , Instagram or YouTube.

About Media OutReach

Founded and headquartered in Hong Kong in 2009, Media OutReach is the first global newswire founded in Asia Pacific with offices in Singapore, Malaysia, Vietnam, Japan, China and Taiwan as well as international reseller partnerships in Canada, USA and Europe. Media OutReach is the only newswire that owns its distribution network across 24 countries across Asia Pacific; possessing a database of more than 130,000 journalists across at least 400 trade categories and 460 media partnerships, it is revolutionizing the industry by providing guarantee online news posting by language for each distribution. With proprietary technology at its core, Media OutReach Newswire distributes multi-language and multimedia press release contents directly to the inbox of targeted editors and journalists to optimize news write up, build media relations and automates the reporting process with key performance metrics and its pioneering post-release reports gives insights into if journalists are actually accessing the release by publication and by country.

Media OutReach Newswire is the go-to news release and content distribution partner for public relations, social marketing, digital agencies, and organizations in Asia Pacific. For more information on Media OutReach, please visit https://www.media-outreach.com/

The King, Lee Min Ho arrives in Singapore!

SINGAPORE – Media OutReach – 18 March 2021 – DAEBAK! K-drama actor Lee Min Ho will arrive at Madame Tussauds Singapore next week, joining the rest of the stars in the new K-Wave zone. He will be standing alongside Song Seung-heon, Kim Woo Bin and Bae Suzy, fans can meet the heartthrob actor for a limited period only!

Lee Min Ho will join the rest of the Korean stars at the new K-Wave zone in Madame Tussauds Singapore!

Lee Min Ho started his career in 2006 and his breakthrough came in 2009. He has recently surpassed 20 million followers on his official Instagram and Facebook page, which makes him one of the most followed Korean stars on different social media platforms combined.

“We are proud and honoured to have Lee Min Ho joining the rest of the stars at the new K-Wave zone. We believe that his figure will definitely draw the attention of many, and we will continue to bring in more stars throughout the year,” says Alex Ward, General Manager of Madame Tussauds Singapore.

To cure the wanderlust of traveling, the K-Wave zone was opened last month where guests can pose under the eye-catching Cherry Blossom tree to experience the Sakura without traveling. Wander away and pose in front of the hanoks with Lee Min-ho, Song Sueng-Heon, Kim Woo-bin and Bae Suzy. Or take your boomerangs in front of the pretty cherry blossom flower wall and inspire your friends on where to shoot their next OOTD.

Madame Tussauds Singapore is based at Imbiah Lookout. Come and enjoy the brand-new K-wave zone with the SingapoRediscovers Vouchers. And till the end of March the Sentosa Island admission fees are waived, so what are you waiting for! Visit the family fun attraction and get 5 experiences for only 1 ticket. For more information on how to redeem these vouchers and to know what the 5 experiences are, please visit our website www.madametussauds.com/Singapore.

Twitter: @MTsSingapore
Instagram: @MTsSingapore
Facebook: @MadameTussaudsSingapore
Hashtag: #MadameTussaudsSG

Download high-res images: https://www.dropbox.com/sh/khx2r1v9o12bn1m/AADTz9_nBt9DK7i3gnm1cNeQa?dl=0

Madame Tussauds

The ultimate celebrity experience and the world’s best known and most popular wax attraction. There are currently 23 Madame Tussauds attractions around the world. Each of the attractions is unique and tailored to the host city and visitor demographic to feature both local as well as international figures.


The result of 200 years of expertise and painstaking research every figure takes Madame Tussauds’ gifted sculptors a minimum of three months to make, and costs more than $300K (Singapore dollars). Most contemporary figures are also produced following sittings with the celebrities themselves.

Twitter live-streams SEOTAIJI “Quiet Night” concert globally

Originator of K-pop, SEOTAIJI’s official concert will be live-streamed on Twitter for the first time

 

SEOUL, SOUTH KOREA – Media OutReach – 18 March 2021 – For the first time, Twitter will livestream a performance by legendary K-pop artist ‘SEOTAIJI’ globally, enabling fans across the world to enjoy his “Quiet Night” concert. Fans can tune in via @SEO_TAIJI at 7 am PST, 10 am EST, 11 pm KST on Thursday, March 18, to enjoy SEOTAIJI’s music no matter where they are.

SEOTAIJI is widely regarded as the most prominent and influential artist and cultural icon in South Korea, since his rise to prominence as leader of the group ‘Seo Taiji and Boys’ in 1992. Throughout his career from group to subsequent solo, SEOTAIJI’s music and artistry, which included elements of hip-hop, dance, rock, metal and Korean Traditional music (Gukak) were instrumental in influencing the sound of Korean popular music, and helped lead to the formation of the K-pop genre as it is known today. Current K-pop favorites like BTS (@BTS_twt) recognize SEOTAIJI’s influence on K-pop; BTS has paid homage to SEOTAIJI by covering his song, “Come Back Home (1995),” and also performed at SEOTAIJI’s 25th Anniversary concert, where SEOTAIJI passed them the torch as a globally-renowned K-pop artist.

(Embeddable Tweet: https://twitter.com/SEO_TAIJI/status/1371479703584862210)

YeonJeong Kim, Head of Global K-pop Partnerships at Twitter, said, “#KpopTwitter has everything fans want to know about their favorite current K-pop artists, but also understands the history of K-pop and how past and present artists influence where K-pop is today. SEOTAIJI is the originator of K-pop music scenes, and artists across K-pop appreciate his contributions to culture – and we want to help fans understand as well. Moving forward, we’re excited to continue partnering with SEOTAIJI to drive conversations about the deep history behind the genre of K-pop.”

SEOTAIJI company said, “It’s really thankful to meet music fans via the concert’s global live-streaming on Twitter. We hope SEOTAIJI’s music could comfort music fans all over the world who are tired of COVID-19.”

(Embeddable Tweet: https://twitter.com/SEO_TAIJI/status/1371641354426585092)

Fans of SEOTAIJI can share their excitement for the concert with a special emoji to celebrate the occasion. Through June 13, SEOTAIJI fans can access the emoji using the following Hashtags:

#SEOTAIJI

#서태지

#StayHomeWithTaiji

#Taiji

#태지

Follow SEOTAIJI (@SEO_TAIJI) right now to get real-time updates about concerts and more.

About Twitter, Inc.

Twitter is what’s happening and what people are talking about right now. To learn more, visit about.twitter.com and follow @Twitter and @TwitterKorea. Let’s talk.

ITC x HKPC x HKSTP “Golden Triangle” Accelerates Reindustrialisation in Hong Kong

HONG KONG SAR – Media OutReach – 17 March 2021 – The Hong Kong Productivity Council (HKPC) and the Hong Kong Science and Technology Parks Corporation (HKSTP) today jointly organised the “Accelerating Reindustrialisation in Hong Kong and Theme Hall Opening Ceremony”, supported by the Innovation and Technology Commission (ITC) of the HKSAR Government, to outline the best strategies and available support for enterprises to realise reindustrialisation.

The “Accelerating Reindustrialisation in Hong Kong and Theme Hall Opening Ceremony” was unveiled by Ms Rebecca Pun, Commissioner of Innovation and Technology, HKSAR Government (centre), Mr Willy Lin, Chairman of HKPC (second from left), Dr Sunny Chai, Chairman of HKSTP (first from right), Mr Jimmy Kwok, Chairman of Reindustrialisation Funding Scheme Vetting Committee (second from right), as well as Mr Mohamed Butt, Executive Director of HKPC (first from left).

As ITC, HKPC and HKSTP are all committed to promoting reindustrialisation in Hong Kong, today’s collaboration is another fine example to the efforts of different stakeholders to provide four essential support covering finance, infrastructure, technology and talent development to facilitate reindustrialisation. The forum and theme hall opening are also the second signature events under HKPC’s “Make Smart Smarter” theme of the year campaign.

Mr Willy Lin, Chairman of HKPC, and Dr Sunny Chai, Chairman of HKSTP, were joined by Ms Rebecca Pun, Commissioner for Innovation and Technology, as Guest-of-Honour, as well as Mr Jimmy Kwok, Chairman of the Re-industrialisation Funding Scheme (RFS) Vetting Committee, and Mr Mohamed Butt, Executive Director of HKPC, to officiate the launch of the reindustrialisation theme hall which aims to encourage local and Greater Bay Area manufacturers to set up high value-added production lines in Hong Kong, enabling them to leverage resources of ITC, HKPC and HKSTP that match their needs to achieve Industry 4.0 (i4.0).

In his welcoming address, Mr Willy Lin, Chairman of HKPC, said, “HKPC is grateful to ITC and HKSTP for their unreserved support towards reindustrialisation and participation in this event. We hope this collaboration can help potential manufacturers to identify available support to achieve reindustrialisation. HKPC is very pleased to see that support covering finance, infrastructure, technology and talent development are all available. We will work harder to make use of research and development (R&D) as an engine to drive Hong Kong’s new economy, leveraging talent to build the future for Hong Kong so that various industries can reap benefits.”

Ms Rebecca Pun, the Commissioner for Innovation and Technology, said, “Innovation and technology (I&T) development is one of the priority policy areas of the current-term Government. To date, the Government has allocated over $100 billion to support I&T development, and reindustrialisation is one of the major work areas. In recent years, we have been actively promoting reindustrialisation in four aspects, namely infrastructure, talent, technology and financial support, to develop advanced manufacturing industries that are based on new technologies and smart production without much land required so as to stimulate the demand for research and development, identify new growth points for Hong Kong’s economy, create quality jobs for young people and raise Hong Kong’s competitiveness.”

Dr Sunny Chai, Chairman of HKSTP, said, “Reindustrialisation is powering a diversified and resilient economy for the future of Hong Kong. It is enabling an ecosystem of digital industries that accelerates the creation of more technology companies, products, and most importantly, high-skilled employment for young people. HKSTP is extending our vibrant innovation and technology community to the city’s industrial estates, while creating the infrastructure and value-added services necessary to support these new opportunities. Together with ITC and HKPC, we are committed to turning reindustrialisation into reality and demonstrating the strength of ‘Innovated, Designed and Made in Hong Kong’.”

The “Golden Triangle” collaboration of ITC, HKPC and HKSTP in promoting reindustrialisation in Hong Kong, offers all-round support for manufacturers covering finance, advanced infrastructure, technology and talent development.

In terms of finance, ITC’s Innovation and Technology Fund provides financial support for local R&D work projects that can contribute to the technological upgrading of industries and promotion of innovation. RFS, Technology Voucher Programme, Innovation and Technology Support Programme, Partnership Research Programme, and Enterprises Support Scheme are some of the relevant funding schemes that offer resources for advanced manufacturers to perform high value functions.

In terms of infrastructure, HKSTP provides the necessary infrastructure and facilities for fostering industrial R&D and advanced manufacturing. It has built the Precision Manufacturing Centre and the Advanced Manufacturing Centre at its industrial parks for high value-added manufacturers with special demands on production facilities.

In terms of technology, HKPC has been assisting enterprises to move towards high value-added production and gradually upgrade to i4.0. With the set up of the INC Invention Centre (The Hatch) in collaboration with the Fraunhofer Institute for Production Technology (IPT) of Germany to support Hong Kong enterprises in adopting innovative industrial technologies, it has also been actively engaging in the advancement of digitalisation, cyber security, FutureSkills, intelligent production, smart technologies and green living.

In terms of talent development, HKPC, together with the Vocational Training Council and Fraunhofer IPT, launched the first i4.0 professional diploma programme in Hong Kong in 2018. Memorandums of Understanding with universities such as Tsinghua University and the Chinese University of Hong Kong have been signed to incubate more InnoTalent, injecting new impetus into R&D and enhancing the competitiveness of Hong Kong businesses.

The “Accelerating Reindustrialisation in Hong Kong Forum” was held after the Opening Ceremony of the Reindustrialisation Theme Hall, featuring successful case sharing by manufacturers which have set up intelligent production in Hong Kong and the presence of prestigious speakers from banking, logistics and IT industries to share insights on how to grasp the opportunities brought by innovation & technology and identify new areas of growth for the local economy.

About Hong Kong Productivity Council

The Hong Kong Productivity Council (HKPC) is a multi-disciplinary organisation established by statute in 1967, to promote productivity excellence through integrated advanced technologies and innovative service offerings to support Hong Kong enterprises. HKPC is the champion and expert in facilitating Hong Kong’s reindustrialisation empowered by i4.0 and e4.0 – focusing on R&D, IoT, big data analytics, AI and Robotic technology development, digital manufacturing, etc., to help enterprises and industries upgrade their business performance, lower operating costs, increase productivity and enhance competitiveness.

The Council is a trusted partner with comprehensive innovative solutions for Hong Kong industries and enterprises, enabling them to achieve resources and productivity utilisation, effectiveness and cost reduction, and enhanced competitiveness in both local and international marketplace. It offers SMEs and startups immediate and timely assistance in coping with the ever-changing business environment, accompanying them on their innovation and transformation journey.

In addition, HKPC partners and collaborates with local industries and enterprises to develop applied technology solutions for value creation. It also benefits a variety of sectors through product innovation and technology transfer, with commercialisation of multiple market-driven patents and technologies, bringing enormous opportunities abound for licensing and technology transfer, both locally and internationally.

For more information, please visit HKPC’s website: www.hkpc.org.