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Li Ning Company Limited Announces 2024 Annual Results

Strengthen the “Single Brand, Multi-Categories, Diversified Channels” Strategy | Solidify Brand and Product Competitiveness, Ensure Steady Operations, and Achieve Pragmatic Growth

HONG KONG SAR – Media OutReach Newswire – 28 March 2025 – Li Ning Company Limited (the “Company” or “Li Ning Company”; together with the subsidiaries, collectively, the “Group”; stock codes: 2331 (HKD counter) and 82331 (RMB counter)) announces today its 2024 annual results for the year ended 31 December 2024 (the “Year”).

Financial Results

In 2024, the Group’s annual performance was generally in line with expectations, a result of robust operational resilience and effective strategic execution. During the Year, the Group’s revenue amounted to RMB28,676 million, representing an increase of 3.9% as compared to that of 2023 (2023: RMB27,598 million). Gross profit amounted to RMB14,156 million, representing an increase of 6.0% compared to that of 2023(2023: RMB13,352 million). The overall gross profit margin increased by one percentage point to 49.4%(2023: 48.4%).

During the year, the net profit attributable to equity holders was RMB3,013 million (2023: RMB3,187 million). The margin of net profit attributable to equity holders was 10.5% (2023: 11.5%). Return on equity attributable to equity holders was 11.9% (2023: 13.1%). Basic earnings per share was RMB116.98 cents (2023: RMB123.21 cents). The Board has recommended the payment of final dividend of RMB20.73 cents per ordinary share for the year ended 31 December 2024, together with the interim dividend of RMB37.75 cents per ordinary share paid in September 2024, the total dividend for the year ended 31 December 2024 will amount to RMB58.48 cents per ordinary share or a total dividend payout ratio of 50%(2023: 45%).

In terms of cash flow management, the Group’s net cash generated from operating activities during the year amounted to RMB5,268 million (2023: RMB4,688 million). As at 31 December 2024, cash and cash equivalents (including cash at banks and in hand, and fixed term deposits with original maturity of no more than three months) amounted to RMB7,499 million, representing an increase of RMB2,055 million, as compared with the position as at 31 December 2023. Adding back the amount recorded as fixed-term deposits held at banks, cash balance amounted to RMB18,141 million, which represented a net increase of RMB166 million as compared to 31 December 2023. During the year, the Group maintained a healthy level of operating capital, and the net cash generated from operating activities increased compared to the previous year. The Company will continue to prudently assess its capital plan in light of market conditions and capital requirements to ensure maximum efficiency in the use of capital and to support its long-term development objectives.

Operational Summary

During the Year, the Group maintained its focus on the core strategy of “Single Brand, Multi-categories, Diversified Channels” to enhance product strength through continuous research and development and technological innovation. Furthermore, the Group made significant progress across various aspects of its business including product innovation, brand building, and channel optimization.

In 2024, the Group made multi-dimensional breakthroughs in the research and development of technologies. During the Year, the Group launched the new midsole technology “Super BOOM”(超䨻), which is not only lighter and more elastic but also boasts an exceptional elasticity-to-weight ratio, representing the pinnacle of performance for supercritical foaming materials. The BOOM technology platform has achieved four application breakthroughs within six years, evolving from a “single technology” to “four major technologies”. This progression demonstrates the Group’s commitment to exploring materials and manufacturing processes and exceptional ability to deploy and broaden their application, further enhancing its ability to diversify product offerings and iterate product lines.

In respect of branding and marketing, the Group continued to focus on the six core categories of running, basketball, training, badminton, table tennis, and sports casual. It also actively explored emerging sports and subcategories, such as outdoor sports, golf, tennis and pickleball. The Group leveraged technological innovation capabilities to drive product upgrades underpinned by three key pillars: solidifying a professional sports mindset, showcasing sports fashion aesthetics, and inheriting Chinese cultural values. Moreover, it proactively sought to strengthen its differentiated brand advantages and enhance brand influence through diversified and comprehensive marketing campaigns. Capitalizing on the market opportunities presented by a year distinguished major sporting events, the Group delved into the essence of its brand spirit and gained insights into the younger generation’s attitudes towards sports. Through these efforts, it articulated the brand spirit of “Dare to Imagine, Create Excellence, Anything is Possible”(敢於想像,創造精彩,一切皆有可能) and launched the “In My Name”(以我為名)-themed marketing campaign, aiming to solidify LI-NING’s professional image and establish a deeper emotional connection with consumers.

In respect of channel, the Group consolidated and enhanced operational efficiency for high-end markets and accelerate expansion into emerging markets. In the high-end markets, the Group focused on improving the efficiency of single store sales through a series of refined management processes and the orderly closure of stores with substantial losses to make the channel layout more reasonable, effectively enhancing overall channel efficiency. At the same time, the Group actively expanded its presence in emerging markets. Diversified sales strategies and flexible market response capabilities enable the Group to gradually expand its market share in emerging markets. As of 31 December 2024, the number of conventional stores, flagship stores, China LI-NING stores, factory outlets and multi-brand stores under the LI-NING brand (including LI-NING Core Brand and LI-NING YOUNG) amounted to 7,585, representing a net decrease of 83 POS as compared to 31 December 2023. The number of distributors was 41 (including sales channels of China LI-NING stores), representing a net decrease of 5 as compared to 31 December 2023.

In terms of retail operations, the Group intensified efforts to promote a single-store operational model with solid profit and efficiency. It established standard profit and loss models for stores at all levels, standardizing and quantifying core store metrics to link them with management objectives across departments. This formed an efficient and coordinated management system, contributing to improved overall operational efficiency. The Group also strengthened the synergies between inventory and sales planning for single-stores and was committed to achieving improvements in both operational efficiency and supply chain management, ensuring efficient and accurate resource allocation and profitability.

In terms of new retail business, the Group continued to deepen the construction of its new retail business system, focusing on enhancing digitalization and all-channel operational capabilities. The aim is to efficiently convert private traffic and steadily improve sales performance. The Group actively explored diversified business models such as acquiring traffic through popular social media platforms like Douyin (抖音) and collaborating online with core channels to broaden sales, increase the proportion of out-of-store sales, and empower stores with new retail capabilities.

In terms of e-commerce operations, facing intensified market competition and a sluggish consumption environment, the Group continued to deepen e-commerce reform and strengthened its core competitiveness in the e-commerce sector across the board through online and offline interaction, diversified marketing campaigns, and precise capture of major sales promotions.

In terms of supply chain, the Group focused on exploring and matching high-quality supply chain resources, gradually improving the supplier matrix for high-end and outdoor products to ensure precise alignment between products and supply chain resources. The Group also implemented a flexible supply chain strategy to closely monitor market demand. Initiatives to refine management and analyse digital information support interoperability and transparency, improve the level of automation, and significantly enhance inventory efficiency along the supply chain. While flexibly responding to market changes, the Group strived to achieve dual improvements in production efficiency and economic benefits.

In 2024, the Group made remarkable achievements in logistics. Four major regional logistics centres across the country underwent comprehensive automation upgrades and began operations. The Nanning central warehouse is set to begin operations in 2025, which will improve delivery efficiency and logistics and warehousing operational capabilities in the southwest of the country. The Group is also proactively promoting refined logistics plan management across its divisions. Through the optimization of digital tools, the Group catered to the specific needs of its sales teams, improved the efficiency of goods distribution, and reduced logistics costs.

In terms of kidswear business, LI-NING YOUNG refined its youth product offerings, leveraging the core competitiveness of its clothing and accessories, while actively expanded into emerging markets, improved single-store efficiency, strengthened construction of clearance channels, promoted product distribution, and expanded the customer base. In terms of retail operations, LI-NING YOUNG continued to enhance operational efficiency and actively acquire and convert customers. Meanwhile, the Group actively built a community marketing system to strengthen member interaction and provide exclusive benefits to strengthen member loyalty and sales conversion rates. In terms of marketing, LI-NING YOUNG planned a series of offline youth activities and cross-border collaborations, focusing on popular sports including basketball, football, running and outdoor activities to showcase the brand’s diverse appeal. Meanwhile, LI-NING YOUNG leveraged social media platforms, ensuring that its messaging reaches target audiences, drives engagement, and reinforces the concept of being a “professional youth sports brand”. As at 31 December 2024, the total number of LI-NING YOUNG POS amounted to 1,468, representing a net increase of 40 POS since 31 December 2023.

Outlook

Looking ahead, the Group will continue to fulfil its commitments by focusing on its core strategy of “Single Brand, Multi-categories, Diversified Channels”, and ensure its effective implementation by strengthening operational systems and consolidating foundational support.

1. Strengthen the implementation of core strategies. By maintaining the healthy development of its core businesses, the Group will further integrate resources and leverage the LI-NING technology platform to further improve its professional product offerings in subcategories such as running, basketball, training, badminton, table tennis and sports casual. It will also deepen the fusion of the sporting spirit and its brand to enhance its competitiveness and influence in core business areas. Meanwhile, in addition to active efforts to optimize its product structure, the Group will expand diversified dressing scenarios with a commitment to the single-brand strategy, deeply integrate sports fashion culture, and launch sports products that combine technology and fashion. In addition, it will take the lead in laying out new pathways for sports consumption, especially in the markets for women, outdoor and youth, striving to achieve breakthrough progress in these emerging fields and drive diversified business expansion. Moreover, the Group is committed to expanding its presence in all target markets, with the aim to create business opportunities in each channel, continuously enhance brand influence, and drive sustained business growth.

2. Optimize operational efficiency. The Group will focus on boosting operational efficiency to ensure the effective implementation of its “Single Brand, Multi-categories, Diversified Channels” strategy. Deepened cross-departmental collaboration and streamlined business processes will empower the Group with efficient product management operations and allchannel integration and supply chain collaboration. Meanwhile, the Group will adopt refined management practices and strictly control costs and benefits, to ensure optimal allocation of resources. At the organizational level, the Group will endeavour to streamline management levels, optimize talent structure, cultivate efficient teams, and promote collaboration among organizations, in order to accelerate the decision-making process, enhance execution, and build a flexible and efficient operational structure.

3. Reinforce underlying support. In terms of underlying support, the Group will ensure sound operations of its financial systems, strengthen fund management and optimize capital structure, and improve financial transparency in a way that provides a solid financial foundation for long-term development. At the same time, the Group will deepen the integration of digital and smart tools by applying digital and intelligent technologies to make more scientific business decisions and adapt with agility to market changes. Through data analysis, artificial intelligence and automation tools, the Group will enhance its insight into market trends and understanding of consumer behaviour, thereby driving innovation in products and services and providing strong support for sustained development.

Mr. Li Ning, Executive Chairman and Joint CEO of the Group, concluded, “Looking ahead to 2025, with strong policy support, consumer spending has the potential to grow decently in China. As a company with long-term roots in China market and a focus on professional products for sports, we are confident in our future development and will seize this opportunity to drive high-quality growth.

Notably, LI-NING will once again partner with the Chinese Olympic Committee and the Chinese Sports Delegation from 2025 to 2028, which underscores the full trust and responsibility bestowed by the General Administration of Sport of China and the Chinese Olympic Committee and the high recognition of the Group’s professionalism and innovation. By adhering to its core value of ‘serving the public with sportsmanship’, LI-NING is committed to becoming the most prominent and stylish sports brand from China and the preferred sports brand of Chinese consumers.”
Hashtag: #LiNing #Sportswear

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

About Li Ning Company Limited

Li Ning Company Limited is one of the leading sports brand companies in China, mainly operating professional and leisure footwear, apparel, equipment and accessories under the LI-NING brand. The Group has comprehensive research and development, design, manufacturing, marketing, distribution and retail management capabilities. It has established an extensive retail distribution network and supply chain management system in China. We are committed to be the most prominent, stylish, world-leading sports brand from China.

In addition to its core LI-NING brand, the Group also manufactures, develops, markets, distributes, sells various sports products which are self-owned by or licensed to the Group, including Double Happiness (table tennis), AIGLE (outdoor sports) and Kason (badminton), which are operated through joint venture/associate with third parties of the Group.

Ultima Markets Unveils AI-Enhanced MT5 Platform, Combining Cutting-Edge Technology with a Trader-First Experience

EBENE, Mauritius, March 28, 2025 /PRNewswire/ — Ultima Markets has launched its MetaTrader 5 (MT5) platform, integrating AI-driven tools to enhance execution, risk management, and trading automation. Developed with a trader-first philosophy and powered by top-tier global infrastructure, the new platform delivers a smarter, more responsive trading experience across global markets.

Ultima Markets MT5 features AI-powered tools for risk management which monitors market conditions in real time, assesses market trends, and provides traders with deeper insights. AI-enhanced Expert Advisors (EAs) also enable automated strategies that continuously adapt to changing conditions.

Powered by a world-class trading infrastructure, Ultima Markets MT5 is optimised for forex, share CFDs and futures trading, while offering speed, stability, and precision. The platform enables advanced charting with 80+ built-in indicators and 21 timeframes for refined strategies and flexible order execution with multiple order types and hedging options for complete control.

“Ultima Markets MT5 represents a step forward in delivering a more sophisticated and efficient trading environment,” said Jack Li, Regional Business Director at Ultima Markets. “Our technology reflects global best standards, but more importantly, every feature is designed with the trader in mind. From execution to education, our priority is helping all traders – from the novice to the expert – to succeed.”

To support users, Ultima Markets is offering educational webinars, platform tutorials, and dedicated guidance including Academy. Robust security measures ensure a safe and transparent trading experience. The firm is also cultivating a trading community to encourage collaboration and continuous improvement.

Ultima Markets MT5 is now live and available to traders worldwide. Click here for more information. Download it now for PC, Web, or Ultima Markets Mobile app.

About Ultima Markets

Ultima Markets is a licensed multi-asset broker offering access to over 250 CFD instruments, including Forex, Commodities, Indices, and Shares. The platform serves traders in 170+ countries and regions, with a focus on reliable execution and client-first service.

Ultima Markets has earned accolades like Best Affiliates Brokerage at the Global Forex Awards and Best APAC CFD Broker at Traders Fair 2024. As the first CFD broker in the United Nations Global Compact, it champions sustainability and ethical finance. Ultima Markets is a member of The Financial Commission, it offers eligible clients insurance protection up to US$1,000,000 per account via Willis Towers Watson.

To learn more about Ultima Markets, please visit our website, Facebook, X, Instagram, LinkedIn and YouTube.

Kerry Logistics Network Posts 95% Growth in Profit Attributable to the Shareholders

Growth in Revenue and Core Net Profit Outperforms the Market

HONG KONG, March 28, 2025 /PRNewswire/ — Kerry Logistics Network Limited (‘KLN’, the ‘Company’ or together with its subsidiaries, the ‘Group’; Stock Code 0636.HK) today announced the Group’s annual results for 2024.

Group’s Financial Highlights

  • Revenue* grew by 23% to HK$58,274 million (2023: HK$47,408 million)
  • Core operating profit* increased by 23% to HK$2,725 million (2023: HK$2,207 million)
  • Core net profit* increased by 12% to HK$1,357 million (2023: HK$1,214 million)
  • Profit attributable to the Shareholders was HK$1,542 million, which represents a growth of 95% (2023: HK$791 million)
  • Integrated Logistics (‘IL’) business recorded a segment profit* of HK$1,251 million (2023: HK$1,289 million), which represents a decrease of 3%
  • International Freight Forwarding (‘IFF’) business recorded a segment profit* of HK$1,950 million (2023: HK$1,400 million), which represents a growth of 39%
  • Proposed final dividend of 15 HK cents per Share to be payable on or around Tuesday, 10 June 2025.

* For continuing operations only

Vic Cheung, Executive Director and Chief Executive Officer of KLN, said, “In 2024, the global economy underwent a slow recovery. Yet, challenges abounded in the macroeconomic environment. KLN responded to these evolving markets with agility, leveraging our network resources and offering flexible and cost-effective solutions to its customers. The Group’s resilience was fully demonstrated by our 2024 results. KLN recorded double-digit growth across both revenue and core net profit for the year, outperforming our international peers. We are also excited to announce our global rebranding campaign from ‘Kerry Logistics Network’ to ‘KLN’, now an established household name that our customers have grown accustomed to and trust, which will usher in a new era of the Group’s development.”

Integrated Logistics

The Group’s IL business reported a 3% drop in segment profit due to the impact of the changes in the external environment and in the domestic consumption patterns on key markets, Hong Kong and the Mainland of China. Undeterred by a difficult operating environment in the two markets, KLN successfully narrowed the decline in segment profit by capitalising on the growth in other Asian markets and implementing a series of cost optimisation measures to reduce operational expenses, including streamlining processes and human resources utilisation.

The Hong Kong IL business recorded a 12% drop in segment profit as a result of the domestic economic downturn and changes in the consumption patterns of visitors and local citizens. In the Mainland of China, the IL business recording an 11% drop in segment profit.

The IL business in the rest of Asia registered a 25% increase benefitting from the growth in India, Singapore and Vietnam and driven by the stable performance of Kerry Siam Seaport in Thailand. Building on its extensive network and diversified business portfolio in Southeast Asia, KLN capitalised on the opportunities arising from the international expansion policies of Chinese corporations in 2024.

International Freight Forwarding

The Group’s IFF business recorded a 39% growth in 2024, supported by the growth in key markets including the Mainland of China, the US, Hong Kong and the rest of Asia.

The Red Sea situation triggered a spike in ocean freight rates which began in May 2024, while the ocean freight market experienced a supply shortage in 2024 Q3, which KLN fully capitalised on by providing customers with the rare offering of block space. KLN focused on serving key customers and successfully improved its segment profit, while maintaining its top position globally as the leading NVOCC in the Asia-US trade lane.

In 2024, KLN’s industrial project logistics division strengthened its service capabilities and contributed revenue of over HK$1.7 billion to the Group. The segment is expected to become another growth driver for the Group in the coming years.

The joint venture between the Group and S.F. Holding commenced operations in November 2023 to provide ground handling services at the international cargo terminal of the Ezhou Airport in China. In 2024, the joint venture recorded a revenue contribution of more than HK$200 million in its first year, significantly exceeding expectations.

Rebranding to ‘KLN’

The Group is undertaking the rebranding of ‘Kerry Logistics Network’ to ‘KLN’. The rebranding exercise presents a valuable opportunity for the Company to further establish a more unified and differentiated corporate identity and reinforce its own unique strategic positioning and value proposition to better serve the interests of its shareholders. The Group is to phase out the use of the Kerry trademarks and ‘Kerry’ as part of the company name by 30 June 2025.

Vic Cheung concluded, “We expect supply chain anomalies to persist in 2025. The volatile policy environment will induce more corporations to shift their investment focus towards the Southeast Asian or South Asian regions. The development potential within these regions is expected to become a growth area for KLN’s IL business. We will also actively leverage our existing diversified market presence, including our extensive overseas warehouse network and ocean and air freight services, to capitalise on new opportunities springing from the supply chain reshuffle. With KLN’s unique competitive advantages and the ability to capitalise on new opportunities brought about by the changes in the market, we will further drive the overall growth of our business, and have our future growth potential reflected in the Company’s market valuation under the KLN brand.”

-End-

About Kerry Logistics Network Limited (Stock Code 0636.HK)

KLN is an Asia-based, global 3PL with a highly diversified business portfolio and extensive coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal) and e-commerce to industrial project logistics and infrastructure investment.

With a global presence across 59 countries and territories, KLN has established a solid foothold in half of the world’s emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Mainland of China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations.

KLN generated a revenue* of close to HK$60 billion in 2024. It is listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng Corporate Sustainability Benchmark Index.

* For continuing operations only

Gospower Showcases Immersion Cooling AI Power Solutions at Intel 2025 SuperFluid Advanced Cooling Community Conference

TAIPEI, March 28, 2025 /PRNewswire/ — Gospower, a leading provider of AI server power solutions, participated in the 2025 SuperFluid Advanced Cooling Community Conference hosted by the Advanced Microsystems and Packaging Alliance (AMPA) and co-organized by Intel and the Heterogeneous Integration System-in-Package Development Alliance (Hi-CHIP). The event brought together over 500 industry experts and 10+ Intel ecosystem partners. Gospower delivered a keynote speech highlighting its pioneering immersion cooling technologies, positioning itself at the forefront of next-generation AI server power thermal management innovation.

With surging computational demands from AI, 5G, and high-performance computing (HPC) driving chip power consumption to kilowatt levels, thermal management has become a critical industry challenge. Intel’s SuperFluid cooling technology, first introduced in 2023, has already provided immersion cooling solutions for NVIDIA’s GB300 platform. As a key Intel ecosystem partner, Gospower established a Joint Advanced Thermal Technology Lab with Intel in March 2024 to accelerate R&D in immersion cooling systems.

Gospower Immersion Cooling Al Power Solutions
Gospower Immersion Cooling Al Power Solutions

Immersion Liquid-Cooled Power Solutions: Redefining Reliability

At the forum, Mr. Wenfei Zhou, Director of Resource Development at Gospower, unveiled the lab’s latest achievement: the Immersion Cooling AI Power Solution integrated with proprietary nano-coating processes. This marks the industry’s first Immersion cooling power supply system designed for AI server clusters.

Gospower’s wafer-level nano-coating technology ensures IPX8-rated liquid resistance, enabling compatibility with diverse dielectric coolants while maintaining operation in extreme environments (e.g., salt fog, dust, humidity). The solution achieves 98% peak efficiency with a 30% improvement in critical component heat dissipation, meeting the rigorous demands of high-density AI computing.

Rigorous Validation: Safety Under Stress

A live demonstration showcased Gospower’s power supply operating normally even when fully submerged in deionized water, simulating coolant leakage scenarios. This validates its exceptional insulation integrity under fault conditions.

Future Roadmap: Aligning with Industry Needs

Gospower’s comprehensive AI server power product portfolio aligns closely with evolving market requirements. The company remains committed to advancing cutting-edge thermal management technologies to empower AI power development.

FELDSPAR TAKES MAJOR STEP TOWARDS CREATING WORLD’S FASTEST AND SMARTEST RUNNING TRACK

  • Feldspar successfully completes the first functional prototype of its sensor-enabled, high-performance track, marking a historic leap in sports flooring technology.
  • Early testing with some of the UK’s fastest young athletes shows Feldspar’s track to be 20% more efficient*, making it significantly faster than the Paris Olympic track.
  • For the first time, the prototype will capture real-time performance metrics cost-effectively, including stride length, foot placement, and direct force measurement from athlete footsteps, making live and scalable data collection possible.

LONDON, March 28, 2025 /PRNewswire/ — Feldspar Limited [“Feldspar”], the UK-based technology company, today announced the successful completion of early-stage testing of the first functional prototype of a sensor-enabled, high-performance running track. This cutting-edge innovation, powered by AI and real-time data analytics, is set to redefine track technology, providing both physical advantages for athletes and data-driven insights for coaches, broadcasters, and fans.

 

Feldspar takes a major step towards creating the world’s fastest and smartest running track

The prototype’s patent-pending technologies** convert directional force from a vertical to a horizontal momentum, and allow athletes to achieve more bounce and propel forward when their feet hit the track. The track will offer them approximately 20% more energy return, compared to traditional track surfaces, including the Paris Olympic track, and it is anticipated to be approximately 20% faster, subject to athlete ability and external conditions.

In elite athletics, where even a 2-4% gain can make a visible and measurable difference in performance, this breakthrough has the potential to represent a major performance advantage.

Feldspar’s innovative energy conversion technology helps athletes run faster while using less power. At the same time, they experience reduced impact on their body, enabling them to focus on technique rather than raw power. Further, the technology also contributes to lowering their fatigue and minimising injury risk, ultimately supporting longer, more sustainable seasons.

Early tests with some of the UK’s most promising young athletes have demonstrated clear benefits: increased speed, improved propulsion and reduced fatigue. These gains translate into more efficient movement, longer and more intensive training sessions, and better endurance during high-intensity sprints.

For the first time, the Feldspar prototype will capture real-time performance metrics cost-effectively, including stride length, foot placement, and direct force measurement from athlete footsteps, making live and scalable data collection possible.

Integrated seamlessly into a cloud-based analytics system, the track delivers instant feedback loops to athletes and coaches, optimising strategies from injury foresight and prevention to maximising training efficiency. By democratising these world-class insights, Feldspar is making them accessible to everyone – not just elite athletes – and providing an entirely new layer of engagement for fans and broadcasters at live sports events.

Unlike traditional tracks, Feldspar’s modular design enables a faster and more cost-effective deployment, giving sports event organisers a dynamic, portable solution that can be installed in different locations with greater efficiency than ever before. 

Following the successful completion of its prototype, Feldspar is now accelerating development to bring this groundbreaking sports flooring technology to market. The company is actively engaging with industry partners, governing bodies, sports federations and clubs, to explore commercial applications of its product. 

Alvina Chen, Founder and CEO of Feldspar said, “Testing the smart track and receiving such positive feedback from some of the UK’s most talented young athletes has been incredible. Over the past two years, we have tirelessly refined our prototypes – working through more than 40 iterations –  to develop a functional prototype that has finally hit the mark. At Feldspar our mission is to power athlete performance from the ground up. This innovation is a true game-changer in sports flooring technology, which we believe will spark a revolution in athletics, sports entertainment, and beyond.”

Darren Campbell, MBE, Global Track Strategy Director said, “This milestone proves that Feldspar’s technology can revolutionise how athletes train and compete. With real-time performance insights captured directly from the track surface, we are not just enhancing speed and efficiency – we are also transforming how sports are consumed and experienced by athletes and fans.”

*Feldspar’s proprietary data shows that the track provides approximately 20% more energy return meaning the track is approximately 20% more efficient and faster than the Paris Olympic track, subject to athlete ability and external conditions..  

**The patent pending technologies include a combination of unique cantilever design and angled energy return mechanisms that act like springs, as well as multilayered structures made of various materials that allow more resistance.

About Feldspar

Feldspar is a UK-based technology company dedicated to transforming sports with the world’s first integrated smart flooring system. Engineered to enhance athlete performance and elevate fan engagement at global sports events, this innovative solution combines cutting-edge flooring and sensor technology into a modular, high-performance running track, setting a new industry standard. For more information, visit www.feldsparsport.com

Feldspar is building the world's fastest and smartest high performance running track
Feldspar is building the world’s fastest and smartest high performance running track

 

Feldspar's first functional prototype is a historic leap in sports flooring technology
Feldspar’s first functional prototype is a historic leap in sports flooring technology

 

Hisense Launches New ULED MiniLED U7 Series TV, Taking the Gaming and Sports Experience to New Heights

QINGDAO, China, March 28, 2025 /PRNewswire/ — Hisense, a leading brand in global consumer electronics and home appliances, today launched its new ULED MiniLED U7 Series TV. Designed especially for gamers and sports enthusiasts, its MiniLED PRO technology delivers brighter, clearer images with enhanced detail compared to standard LEDs, offering the truest darkness and stellar brightness. With the U7 Series TV, Hisense — the No. 1 maker of 100-inch+ TVs globally — continues to drive innovation that improves how people live, connect, and enjoy the moments that matter most.

Hisense U7 Series TV
Hisense U7 Series TV

Step into the excitement with the U7 Series TV, as every frame comes to life with outstanding contrast and brightness. The new U7 series offers higher peak brightness and more local dimming zones than its predecessor for even greater HDR impact. The precise backlight control ensures every detail is visible, no matter dark or bright. Powered by Hisense’s advanced Hi-View AI Engine PRO, which has a 1.6X faster CPU, 2.2X faster GPU, and 1.5X faster NPU compared with last year, the U7 Series TV excels in scene recognition and optimizes every frame with AI-driven enhancements, transforming ordinary visuals into extraordinary ones. The Hisense U7 Series TVs feature an Anti-Reflection Screen that ensures incredible brightness and stunning picture clarity, so you see the details, not the glare and can enjoy your content no matter how sunny your room gets.

The 165Hz Game Mode Ultra elevates your gaming and sports experience, ensuring you stay ahead with style. The Auto Low Latency Mode, AMD Freesync Premium Pro and four HDMI 2.1 ports take your gaming to the next level, seamlessly handling even the most intense action, eliminating input lag and frame tearing for a smoother experience.

Not only will your gaming feel exceptional, it will also sound fantastic. The 2.1.2 Multi-Channel Surround, Dolby Atmos and AI Sound provide an immersive audio experience, capturing everything from the quietest whispers to the most explosive scenes. Its exclusive “Tuned by Devialet®” certification redefines immersive audio by integrating the “hear sound come alive” philosophy. Owners of these models, whether existing or new, can unlock this transformative audio upgrade through an upcoming complimentary software update.

For a cinematic experience, the U7 Series incorporates IMAX Enhanced, Dolby Vision, and Filmmaker Mode to deliver stunning 4K visuals, allowing you to enjoy films and shows as their creators intended. Quantum Dot Color and Pantone Validated Color create incredibly realistic images, every frame is rich, vibrant, and true-to-life.

Hisense is the first official partner of the FIFA Club World Cup 2025™, and the U7 Series TV will be among the company’s key products for this highly anticipated tournament. Whether you are experiencing the action on the football pitch, gaming intensely, or relaxing, you’ll enjoy an elevated experience with the Hisense U7 Series.

The Hisense U7 Series TV is set to launch April 15th in USA and May 15th in Europe. It comes in six sizes: 55, 65, 75, 85, 100, and 116 inches to seamlessly fit into your home, no matter your needs. (*Availability of size options may vary by region.)

About Hisense
Hisense is a leading global home appliance and consumer electronics brand. According to Omdia, Hisense has ranked No. 2 globally in total TV shipments from 2022 to 2024, and No. 1 in 100”+ TVs segment from 2023 to 2024. The company has rapidly expanded to operate in more than 160 countries and specializes in multi-media goods, home appliances, and intelligent IT information.

 

DIVE INTO THE UNSEEN: ADEX OCEAN FESTIVAL 2025 UNLOCKS THE SECRETS OF CEPHALOPODS & MARINE MAGIC

Asia’s Ultimate Ocean Experience Promises Thrills, Innovation, and a Chance to Shape the Future of Our Seas

SINGAPORE, March 28, 2025 /PRNewswire/ — Imagine a world where octopuses solve puzzles, cuttlefish hypnotize prey, and squids vanish in clouds of ink. This April, the ADEX Ocean Festival Singapore 2025 turns imagination into reality, inviting adventurers, conservationists, and curious minds to plunge into the mysterious realm of cephalopods—the ocean’s most intelligent, shape-shifting marvels. From April 4–6, 2025, the Suntec Singapore Convention & Exhibition Centre (Hall 403-406) transforms into a portal for underwater discovery, blending heart-pounding action, cutting-edge tech, and urgent conservation calls. Will you answer the ocean’s cry?

WHY ADEX 2025 IS YOUR TICKET TO THE EXTRAORDINARY

  1. Become a Cephalopod Detective
    Exclusive Reveal: Witness live footage of giant Pacific octopuses solving mazes and flamboyant cuttlefish changing colors in real-time. Compete in the Voice of the Ocean Competition—judged by National Geographic legends David Doubilet and Jennifer Hayes—where your photos or films of marine behavior could win $10,000 and global acclaim.
  2. Swim with Mermaids, Battle in the Dive Tank
    First in Asia: Cheer for teams battling in underwater rugby or watch artists paint live beneath the surface. Vote for the ADEX Most Voted Mermaid of the Year—where glittering tails and ocean advocacy collide.
  3. Free Scuba Dives & Gear That Defies Limits
    No Experience Needed: Dive into the Beginner’s Pool with PADI pros. Geek out over AI-powered dive masks and bioluminescent wetsuits in the Tech Demo Zone.
  4. Save the Ocean—While Winning Big
    Grab Deals, Win Trips: Snatch 50% off dive packages to the Philippines’ Tubbataha Reef or enter hourly draws for free Maldives liveaboard trips.
  5. Learn from the Ocean’s Greatest Minds
    Meet the Heroes: Ask Prof. Simon Mitchell how to survive deep-sea emergencies. Hear Erin Quigley reveal how octopuses “talk” through skin patterns.

DIVE INTO THE UNSEEN: ADEX OCEAN FESTIVAL 2025 UNLOCKS THE SECRETS OF CEPHALOPODS & MARINE MAGIC
DIVE INTO THE UNSEEN: ADEX OCEAN FESTIVAL 2025 UNLOCKS THE SECRETS OF CEPHALOPODS & MARINE MAGIC

“THIS ISN’T JUST A FESTIVAL—IT’S A REVOLUTION.”
John Thet, CEO of ADEX

EVENT DETAILS

  • When: April 4–6, 2025 | 10 AM7 PM
  • Where: Suntec Singapore Convention & Exhibition Centre, Hall 2
  • Tickets: From $10 (Kids under 12 FREE). Includes all-access pass to stages, demos, and exhibitions.

10,000+ ocean lovers are already going.
Will YOU miss the dive event of the decade?

-> CLAIM YOUR TICKET NOW 

ADEX 2025 Sponsors & Partners

The event is proudly supported by Tourism Promotions Board Philippines (Official Country Partner), Malaysia Tourism Promotion Board (Dive Destination Partner), DAN World (Official Dive Safety Partner), PADI (Official Bag Sponsor), SEACAM (Official Dive Underwater Housing Partner), KAYASUBA (Official Mermaid Tail Partner), and Mermaid Federation International (Dive Tank Sponsor), among others.

LAST CHANCE TO JOIN THE BLUE MOVEMENT
“The ocean isn’t just dying—it’s fighting. Come learn how to fight with it.”
Chloe Harvey, Marine Conservationist & ADEX Judge

MEDIA CONTACT:

Kimberly Niu | Event and Marketing Manager, Asian Geographic Magazine / Asia Dive Expo (ADEX)
E: kimberly@asiangeo.com | T: +65 813 54120

Mihiri S. Korala | PR Manager, Asia Dive Expo (ADEX)
E: mihiri@uw360.asia | T: +94 777 706 009

Follow the frenzy: #ADEX2025 #CephalopodQuest #DiveOrMissOut

Hong Kong Pharma Digital Technology Holdings Limited Reports Financial Results for the Six Months Ended September 30, 2024

HONG KONG, March 28, 2025 /PRNewswire/ — Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ: HKPD) (“HKPD” or the “Company”), a leading provider of over the counter (“OTC”) pharmaceutical cross-border e-commerce supply chain services in Hong Kong, today announced its unaudited financial results for the six months ended September 30, 2024.

Financial Highlights for the Six Months Ended September 30, 2024:

  • Net Revenues: The Company reported net revenues of $11,091,189, an increase of 58.9% compared to $7,009,209 for the same period in 2023.
  • Revenue Breakdown:

Six Months ended
September 30,
2024

Six Months ended
September 30,
2023

Supply chain services

$

6,329,678

$

4,646,951

Procurement and distribution

4,759,301

2,346,931

Consignment sales and other revenue

2,210

15,327

Total Revenue

$

11,091,189

$

7,009,209

 

                Supply Chain Services: $6,329,678, up 36.3% from $4,646,951 for the same period in 2023.
                Procurement and Distribution: $4,759,301, a 102.7% increase from $2,346,931 for the same period in 2023.
                Consignment Sales and Other Revenue: $2,210, down from $15,327 for the same period in 2023.

  • Gross Profit: The gross profit for the period was $1,905,603, a 42.6% increase from $1,335,988 for the same period in 2023.

Total Expenses

  • Total Expenses: Increased to $10,066,706 for the six months ended September 30, 2024, up from $6,667,999 for the same period last year.

 

Six Months ended
September 30,
2024

Six Months ended
September 30,
2023

Changes in inventories of merchandised goods

$

4,513,873

$

2,171,361

Storage cost

530,012

463,412

Transportation cost

2,619,599

1,046,455

Consumption of packing material

514,714

515,594

Depreciation and amortization

30,153

31,727

Labor cost

1,318,041

1,589,164

Outsourcing expenses

328,755

202,169

Others

211,559

648,117

Total cost of sales, selling, general and administrative expenses

$

10,066,706

$

6,667,999

 

Net Income

  • Net Income: The Company achieved a net income of $828,559, a 232.6% increase compared to $249,037 in the same period last year.

Management Commentary

Lap Sun Wong, Chief Executive Officer of HKPD, stated, “The Company has delivered a strong performance for the six months ended September 30, 2024, demonstrating our ability to grow in a competitive and evolving market. The significant increase in net revenues reflects the effectiveness of our strategic initiatives to enhance our supply chain and procurement services. Despite the rise in expenses due to increased marketing efforts and workforce expansion, our net income reflects our focus on profitability and operational efficiency.”

Man Bun Kwok, Chief Financial Officer, added, “While we are pleased with our financial progress, we remain mindful of the importance of maintaining a disciplined cost structure as we scale operations. Our investment in marketing aims to capture additional market share in the OTC pharmaceutical supply chain sector, and we believe these efforts will continue to drive growth in the coming periods.”

About Hong Kong Pharma Digital Technology Holdings Limited

Hong Kong Pharma Digital Technology Holdings Limited offers two main categories of services: (i) OTC pharmaceutical cross-border e-commerce supply chain services through its Hong Kong subsidiary, Joint Cross Border Logistics Company Limited (“Joint Cross Border”), and (ii) OTC pharmaceutical cross-border procurement and distribution through its Hong Kong subsidiary, V-Alliance Technology Supplies Limited.

Through its engagement with OTC pharmaceutical suppliers, logistics companies, and merchants on Chinese e-commerce platforms, Joint Cross Border provides a convenient one-stop solution for Mainland Chinese customers seeking access to OTC pharmaceutical products outside Mainland China.

Joint Cross Border’s comprehensive service offerings include pre-consultation, product information review, procuring overseas OTC pharmaceutical products, enlisting products with the Hong Kong Department of Health, obtaining import and export permits, storing products, packaging, and arranging logistics and end-to-end delivery services for customers.

For more information, please visit the Company’s website: www.9zt.hk.

Forward-Looking Statements

All forward-looking statements, expressed or implied, in this release are based only on information currently available to us and speak only as of the date on which they are made. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this release. Except as otherwise required by applicable law, we disclaim any duty to publicly update any forward-looking statement to reflect events or circumstances after the date of this release. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in our filings with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s filings with the SEC. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov.

For investor and media inquiries please contact:

Hong Kong Pharma Digital Technology Holdings Limited
Media Contact: pr@9zt.hk
Investor Relations: ir@9zt.hk
Telephone: +852 2618-9289

 

HONG KONG PHARMA DIGITAL TECHNOLOGY HOLDINGS LIMITED AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME  
(Expressed in U.S. dollar, except for the number of shares)

 

For the Six Months Ended

September 30,

Note

2024

unaudited

2023

unaudited

Revenues

7

$

11,091,189

$

7,009,209

Cost of revenues

8

(9,185,586)

(5,673,221)

Gross profit

1,905,603

1,335,988

Other income

9

804

427

Operating expenses:

Selling, general and administrative expenses

8

(881,120)

(994,778)

Other gains/(losses), net

10

1,751

(32,817)

Total operating expenses

(879,369)

(1,027,595)

Operating profit

1,027,038

308,820

Financial income

11

1,078

156

Finance costs

11

(49,254)

(34,812)

Finance costs, net

(48,176)

(34,656)

Profit before income taxes

978,862

274,164

Income tax expense

12

(150,303)

(25,127)

Net profit for the year

13

828,559

249,037

Less: profit attributable to non-controlling interests

Profit attributable to owners of the Company

828,559

249,037

Other comprehensive income

Foreign currency translation adjustments

20,032

227

Comprehensive income attributable to the Company’s shareholders

$

848,591

$

249,264

Earnings per share

Basic and diluted *

15

$

0.083

$

0.036

Weighted average number of shares outstanding

Basic and diluted *

10,000,000

6,843,000

 

HONG KONG PHARMA DIGITAL TECHNOLOGY HOLDINGS LIMITED AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Expressed in U.S. dollar, except for the number of shares)

 

September

March 31,

Note

30, 2024

unaudited

2024

audited

         ASSETS

NON-CURRENT ASSETS:

      Property and equipment, net

16

119,407

103,242

      Intangible assets, net

17

89,299

31,825

      Right of use assets, net

25

1,073,857

730,451

TOTAL NON-CURRENT ASSETS

1,282,563

865,518

CURRENT ASSETS:

     Deferred IPO costs

21

2,161,496

1,260,075

     Inventories

18

555,522

933,299

     Trade receivables, net

19

4,880,309

3,698,757

     Other receivables and prepayments

19

902,406

1,262,351

     Amount due from related parties

23

14,755

19,971

     Restricted cash

401

7,682

     Cash and cash equivalents

20

364,990

619,575

TOTAL CURRENT ASSETS

8,879,879

7,801,710

TOTAL ASSETS

$

10,162,442

$

8,667,228

        LIABILITIES AND EQUITY

NON-CURRENT LIABILITIES:

     Lease liabilities non-current portion

25

200,759

117,836

     Longterm bank loan non-current portion

24

1,005,610

1,119,276

TOTAL NON-CURRENT LIABILITIES

1,206,369

1,237,112

CURRENT LIABILITIES:

     Trade and other payables

22

1,801,047

$

1,416,182

     Tax payable

12

345,742

218,831

     Contract liabilities

7

74,877

191,066

     Due to related parties

23

239,802

500,677

     Lease liabilities – current portion

25

910,714

634,504

     Current portion of long-term bank loan

24

231,641

180,493

     Short-term bank loan

24

34,704

TOTAL CURRENT LIABILITIES

3,603,823

3,176,457

TOTAL LIABILITIES

4,810,192

4,413,569

COMMITMENTS AND CONTINGENCIES

EQUITY:

Ordinary shares, 50,000,000 shares authorized, consisting of 49,501,000 Class A ordinary shares of $0.001 par value per share and 499,000 Class B ordinary shares of $0.001 par value per share *

Class A ordinary shares, 9,501,000 and 6,843,000 shares issued and outstanding at September 30, 2024 and March 31, 2024, respectively *

26

9,501

9,501

Class B Ordinary shares, 499,000 and nil shares issued and outstanding at September 30, 2024 and March 31, 2024, respectively *

499

499

Additional paid in capital

26

3,017,409

3,017,409

Subscription receivable

26

(50,000)

(300,000)

Retained earnings

27

2,359,667

1,531,108

Accumulated other comprehensive (loss) income

27

15,174

(4,858)

TOTAL SHAREHOLDERS’ EQUITY

5,352,250

4,253,659

TOTAL LIABILITIES AND EQUITY

$

10,162,442

$

8,667,228