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Coway Announces Financial Results for Q4 and FY2024

  • Coway’s 2024 Q4 revenue reached KRW 1,125.7 billion (+12.1% YoY) with an operating profit amounted to KRW 183.4 billion (+10.4% YoY)
  • The company’s FY2024 annual revenue totaled KRW 4,310.1 billion (+8.7% YoY) with an operating profit of KRW 795.4 billion (+8.8% YoY)
  • Coway plans to drive steady growth in 2025 by accelerating its ‘New Coway’ strategy

SEOUL, South Korea, Feb. 14, 2025 /PRNewswire/ — Coway Co., Ltd., the “Best Life Solution Company,” has released its financial results for the fourth quarter and fiscal year 2024.

Coway Financial Results
Coway Financial Results

“We’re pleased to have delivered stable performance across both domestic and international markets in 2024, even amid challenging business environments,” stated Jangwon Seo, CEO of Coway. “This success was driven by our disciplined management approach and our commitment to expanding R&D. Looking ahead, as we accelerate our ‘New Coway’ strategy, we will focus on developing differentiated, innovative products and expanding our global footprint to drive sustained growth.”

Coway reported the following earnings:

  • Fourth-quarter revenue: KRW 1,125.7 billion (+12.1% YoY)
  • Fourth-quarter operating profit: KRW 183.4 billion (+10.4% YoY)
  • Annual revenue: KRW 4,310.1 billion (+8.7% YoY)
  • Annual operating profit: KRW 795.4 billion (+8.8% YoY)

*The reported figures are taken from the consolidated K-IFRS (International Financial Reporting Standards) statement.

In 2024, Coway’s domestic business recorded a revenue of KRW 2,581.7 billion, marking an 8.8% increase compared to the previous year. This growth was driven by the strong sales of key products such as water purifiers, air purifiers and bidets, as well as the expanding sales of the high-growth BEREX brand.

Coway’s overseas subsidiaries reported an annual revenue of KRW 1,545.2 billion in 2024, showing an 8.0% increase compared to the prior year. In Malaysia, annual revenue saw a 6.6% increase from the previous year to reach KRW 1,158.4 billion, while the United States subsidiary recorded an annual revenue of KRW 214.2 billion, up 4.4% from 2023, and Thailand recorded an impressive year-over-year growth of 24.3% and a KRW 125.7 billion annual revenue.

Coway announced that it has decided upon a year-end cash dividend of KRW 2,630 per share as a year-end dividend. The total dividend payout amounts to KRW 189.1 billion, representing a 93% increase compared to the previous year’s total dividend of KRW 98.0 billion (KRW 1,350 per share).

In addition, Coway will unveil its ‘Corporate Value-Up Program,’ with the key focus being the expansion of the shareholder return ratio from the previous 20% to 40% over the next three years. This plan includes measures such as cash dividends and cancellation of treasury shares.

For additional details about Coway’s financial performance, please visit the company’s Investor Relations page.

About Coway Co., Ltd. 

Established in Korea in 1989, Coway, the “Best Life Solution Company,” is a leading environmental home appliances company making people’s lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. The company’s most recent venture, the BEREX brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the environmental home appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, the USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in Korea. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.

Patuxay, That Luang to Fine Disorganized Parking Starting 25 February

Patuxay, That Luang to Fine Disorganized Parking Starting 25 February
This image is used solely for representational purpose (photo credit: Life Part 2 and Beyond)

Starting 25 February, Laos will begin imposing fines on disorganized parking at Patuxay Park and That Luang, as confirmed by the Traffic Police Department on 12 February.

AWE’s Mega Event Lucky Draw – Round Two Delights

The Excitement Reaches New Heights

HONG KONG, Feb. 14, 2025 /PRNewswire/ — Following the success of round one lucky draw, AsiaWorld-Expo (AWE) proudly announces the launch of the “AWE Mega Event Lucky Draw – Round Two”, celebrating its 20th anniversary. Event enthusiasts are invited to win tickets to events and concerts held at AWE from April to June 2025, offering a diverse and thrilling experience.


Exciting Events Await You

Multiple sets of ” 2025 Mega Event Pass” are ready, giving you the chance to experience your favourite events for free. From April to June, a series of highly anticipated world-class events will take place at AsiaWorld-Expo, including trade and public exhibitions, anime events, art and cultural showcases, and concerts. The lineup is diverse and exciting, catering to all interests and passions!

Entertainment and Music: Enjoy the hilarious performance of comedy king Russell Peters, electrifying concerts by popular K-pop groups BOYNEXTDOOR and NMIXX, NCT Dream’s first-ever Asia tour, an immersive audio-visual concert by Japanese virtual singer Ado, and a soulful music night with Taeyeon. More spectacular performances will be announced soon, promising a star-studded lineup and unforgettable experiences!

Exhibition Highlights: Anime fans won’t want to miss the Rainbow Gala HK, while car enthusiasts can explore the latest models and technologies at the International Automotive and Supply Chain Expo (HK). Families can discover creative books and parenting products at the Children’s Book Fair and Super Parents & Kids Expo, or visit the 3rd Art Hong Kong Expo, which showcases art treasures and cultural creations from around the globe. These events inspire innovative ideas while seamlessly combining education with entertainment.

Join the AWE Mega Event Lucky Draw with AsiaWorld-Expo APP

Simply download and log in to the AsiaWorld-Expo app for a chance to win the “2025 Mega Event Pass”! Participation is quick and easy—just one click to join and unlock an exciting journey!

  1. Download the AsiaWorld-Expo mobile app and successfully register as a member.
  2. Navigate to the draw page and fill in your personal information (name, phone, and email).
  3. Answer a simple question.
  4. Unleash your creativity to create a capsule that reflects your unique personality.

Details of the “AWE Mega Event Lucky Draw – Round Two”

•  Prizes and Winners:

There will be five winners in the “AWE Mega Event Lucky Draw – Round Two”, with all winners able to freely exchange their 2025 Mega Event Pass for a set of two tickets to any event held at AWE from 1 April 2025 to 30 June 2025.

 

•  Registration Deadline:

2 March, 2025 

 

•  Announcement of Results:

The results will be announced on 7 March 2025 on the AsiaWorld-Expo mobile app, AWE’s major social platforms, Sing Tao Daily, and The Standard. All winners will also be notified by email.

AWE Mega Event Lucky Draw is subject to the terms and conditions, to learn more please refer to: bit.ly/3CV9jxD (Trade Promotion Competition Licence No.: 59636)

AWE Bear Makes a Surprise Appearance

AsiaWorld-Expo’s mascot, the “AWE Bear,” will surprise attendees at various events with lucky bags. Visitors are encouraged to arrive early to enjoy these unexpected delights. Additionally, AsiaWorld-Expo members can enjoy exclusive activities at the EXPOtainment CUBE on Level 1 of the venue, experiencing unique and creative interactive fun.

Hi-res photos can be downloaded via this link: www2.asiaworld-expo.com/2025/PressRelease/2025-Luckydraw2.zip

LONGi Scored ‘A-‘ Leadership Level for Water Security by global non-profit organization CDP

XI’AN, China, Feb. 14, 2025 /PRNewswire/ — 7th February,2025, The global leading authority and non-profit organization CDP released the 2024 scores for the Climate Change, Water Security, and Forests questionnaires. According to the report, LONGi has scored ‘A-‘ Leadership Level for Water Security (Top 1 in Chinese renewable/PV industry) for the first time, and also scored ‘B’ Management Level for Climate Change for the second year.

CDP is a global non-profit that runs the global independent environmental disclosure system for companies, capital markets, cities, states and regions to manage their environmental impacts. As the world’s largest, most comprehensive dataset on environmental action, CDP dedicates to empowering investors, companies, cities, and national and regional governments to make Earth-positive decisions.

The CDP scores companies on three themes: climate change, forests, and water security. The scores are widely used in investment and procurement decisions, helping companies enhance their ESG (environmental, social, and corporate governance) performance and reduce financing costs. In 2024, the number of Chinese companies disclosing information through the CDP exceeded 3,600.

LONGi has scored ‘A-’ Leadership Level for Water Security (Top 1 in Chinese renewable/PV industry) for the first time, and also scored ‘B’ Management Level for Climate Change for the second year.
LONGi has scored ‘A-’ Leadership Level for Water Security (Top 1 in Chinese renewable/PV industry) for the first time, and also scored ‘B’ Management Level for Climate Change for the second year.

According to a CDP report, 6/10 countries are at risk of having unsustainable water resource usage by 2050. In the process of promoting sustainable development practices such as water resource management and climate action, LONGi attaches great importance to sustainable information disclosure to stakeholders such as customers and investors. The company has established a water resource management policy of “environmental compliance, priority to water saving, economical discharge, and scientific governance.” LONGi conducts an annual inventory of water resources in its factories worldwide based on the World Resources Institute (WRI) water risk atlas, and takes the risk levels of water resources as an important reference in the setting of conservation targets.

In 2023, by analyzing the water-saving potential of all production processes and adopting measures such as exploring alternative water sources and optimizing capacity utilization rate, LONGi carried out 118 water-saving process projects within the whole group and saved 5.5293 million tons of water annually. As a result, the overall water consumption of the whole group decreased by 12.75% year-on-year, and 33.52% compared with the base year.

Since 2020, LONGi has actively participated in the CDP questionnaire of Climate Change and Water Security. Through continuous progress in sustainable development practices, LONGi has obtained the “Leadership Level” for Water Security for the first time. In the future, LONGi will continue to promote sustainable development related issues, uphold a beneficial attitude towards the earth, and work together with all parties to create a sustainable future.

About LONGi

Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.

Under its mission of ‘making the best of solar energy to build a green world’, LONGi has dedicated itself to technology innovation and established several business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com

McDonald’s China Triumph: Harnessing Tencent Cloud’s Partnership in Digital Transformation and Consumer Engagement

Enhancing McDonald’s China digital ordering system to efficiently manage both regular peak times and promotional surges

HONG KONG, Feb. 14, 2025 /PRNewswire/ — Tencent Cloud, the cloud business of global technology company Tencent, has been a trusted partner of McDonald’s China since 2017 – a partnership that has helped McDonald’s China bolster its operational efficiency and be at the leading edge of digital innovation in food service. Leveraging its expertise in digitalization and cloud computing, Tencent Cloud supports the seamless operation of McDonald’s digital and store expansion initiatives. Moreover, it enhances McDonald’s China digital ordering system to efficiently manage both regular peak times and promotional surges.

Shihong Chen, Chief Information and Experience Officer of McDonald’s China (right)
Shihong Chen, Chief Information and Experience Officer of McDonald’s China (right)

Over the past 70 years, McDonald’s has become a leading retail food service giant with over 40,000 locations worldwide. Shihong Chen, Chief Information and Experience Officer of McDonald’s China, stated, “McDonald’s China chose to create an in-house digital department instead of acquiring a digital system from external suppliers. At the same time, a highly skilled cloud computing partner is still essential to McDonald’s China, for the partnership on architecture and technology while fully understanding the company’s business requirements.”

In the food service industry, consumers expect quick ordering and food pickup. Today, more than 90% of transactions at McDonald’s China are from digital channels. Therefore, McDonald’s digital ordering system must be robust enough to handle both regular peak times and promotional surges to ensure a consistently positive customer experience. However, simply increasing server bandwidth to boost capacity would lead to escalating costs. David Su, Industry General Manager of Tencent Smart Retail, said, “By leveraging Tencent Cloud’s capabilities, the two companies collaborate on auto scaling to reduce costs during low-traffic periods while maintaining an optimal ordering experience during peak times. In complex and variable offline network environments, where network quality could be very low, ensuring that consumers can quickly access McDonald’s China’s online ordering APP and Mini Program presents a big challenge and is a key focus for Tencent Cloud. Additionally, during promotional periods, Tencent Cloud provides extensive technical support to safeguard applet data and protect consumers, while ensuring that product discounts reach genuine customers rather than being exploited by ‘coupon hunters.’ We work very closely with McDonald’s. Whenever new challenges arise, the Tencent Cloud team is there working together on finding the best solution from both a product and technical perspective.”

By the end of 2024, McDonald’s China currently manages over 6,800 stores and has set ambitious plans to expand to 10,000. By leveraging Tencent Cloud big data solution, McDonald’s China is now capable of conducting intelligent assessments of over one thousand factors for a smarter store location selection. Su explained, “For a specific location, we can assist the brand in determining the rationality of the site selection, as well as the specific store scale, format, and operational direction, based on desensitized environmental and demographic big data. Tencent Cloud is dedicated to empowering its clients through the strategic use of big data.”

McDonald’s China digital transformation journey signifies not only a commitment to technological innovation but also a profound reimagining of its traditional business model. From the introduction of self-service ordering kiosks to today’s constantly evolving, comprehensive digital strategy, McDonald’s China has consistently prioritized consumer needs, leveraging technology to innovate and optimize the dining experience. Throughout the ongoing collaboration, Tencent Cloud has provided McDonald’s China with robust technical support and invaluable experience, serving as a model for other foodservice enterprises seeking to drive digital transformation. The partnership between Tencent Cloud and McDonald’s China exemplifies how digital continues to shape and drive efficiency and innovation at the leading edge of the food service industry.

About Tencent Cloud:

Tencent Cloud, one of the world’s leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT, and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation.

ViewQwest Enhances Malaysia Commercial Leadership Team to Drive Growth

Appoints Simon Ang as Head of Enterprise Sales


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 14 February 2025 – ViewQwest, a leading telecommunications, network, and security services provider in Southeast Asia, has announced the appointment of Simon Ang as Head of Enterprise Sales in Malaysia. This strategic appointment underscores ViewQwest’s commitment to strengthening its commercial presence and accelerating business growth in a key market for its rapidly expanding managed services portfolio. Ang will lead the company’s enterprise engagement strategy, driving deeper partnerships and delivering innovative solutions that support Malaysia’s digital transformation.

With over 30 years of experience in IT and telecommunications, Ang brings extensive expertise in enterprise sales, business development, and strategic account management. Prior to joining ViewQwest, he served as Director of Carrier Relations at DCConnect, overseeing telecom network wholesale operations in Malaysia, Singapore, and Indonesia. He also led Platform and Managed Services at NTT MSC Sdn Bhd’s Cloud Services Division, and held leadership roles at global firms such as IBM, HP, and PCCW, where he drove market expansion, digital transformation, and operational excellence.

“Simon’s leadership and deep understanding of enterprise solutions come at a pivotal time for ViewQwest,” said Benjamin Tan, Chief Commercial Officer of ViewQwest. “As we accelerate our commercial efforts in Malaysia, his expertise will be instrumental in strengthening our market position and ensuring our solutions effectively address enterprise needs.”

Ang expressed enthusiasm for his new role, stating, “I’m excited to join ViewQwest at this transformative stage of its growth. With our innovative suite of services tailored for the Malaysian market, we are uniquely positioned to help businesses optimize their networks and enhance cybersecurity. A key focus will be on revitalizing the Enterprise Sales team, equipping them with the tools, knowledge, and strategies needed to drive meaningful business impact.”

His appointment reinforces ViewQwest’s commitment to investing in both commercial and technical talent to support its rapid growth as a trusted partner for network and security transformation. With Ang’s deep experience in business development and partner management, the company aims to strengthen channel partnerships and expand strategic alliances, further solidifying its leadership in the region.

“I am confident that with Simon on board, our Enterprise Sales team will be even more empowered to drive growth and success,” added Tan.

Hashtag: #ViewQwest

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

About ViewQwest

ViewQwest is an award-winning telecommunications, network, and security services provider driven by a vision to make the world a better place, powered by a safer, better internet. Founded and headquartered in Singapore since 2001, it has expanded operations and market coverage in Malaysia, the Philippines, Hong Kong, and other countries in North and Southeast Asia.

ViewQwest builds and manages high-performing network and security infrastructure for the digital enterprise, securely connecting corporate sites and workforces wherever they are needed. It is a trusted partner of global and regional multinational corporations (MNCs) and top companies across Asia, delivering fit-for-purpose connectivity and security to power their digital future. ViewQwest also provides market-leading residential and SME broadband connectivity and cybersecurity services in Singapore and Malaysia.

ViewQwest received the 2024 Network and Security integration of the Year Award – Singapore, and the 2023 Singapore Broadband Telecom Provider of the Year recognition at the Asia Telecom Awards for its service innovation and excellence in network and security.

For more information, visit

Fosun International Continues to be Recognized in the S&P Global’s Sustainability Yearbook 2025

HONG KONG, Feb. 14, 2025 /PRNewswire/ — On 12 February 2025, S&P Global released the Sustainability Yearbook 2025. Fosun International Limited (HKEX Stock Code: 00656, “Fosun International”) was successfully selected into the yearbook for the second consecutive year for its continuous efforts in environmental, social and governance (ESG).

Now in its 21st year, the S&P Global’s Sustainability Yearbook continues to provide investors with quantifiable sustainability performance evaluation by providing insights based on comprehensive, detailed, and credible data. This year, 7,690 companies across 62 industries were assessed in the 2024 Corporate Sustainability Assessment (CSA), with 780 companies ultimately selected for inclusion in the Sustainability Yearbook 2025. Notably, only 10 companies within the industrial conglomerates sector were selected.

Due to its ongoing commitment to ESG initiatives, Fosun International’s S&P Global CSA score has improved annually since 2018, positioning it as an industry leader. In the 2024 S&P Global CSA, Fosun International scored an excellent score of 70. As of December 2024, Fosun International ranks in the top 5% among global peers and continues to maintain a leading position in the industry, significantly ahead of the industry average by around 40 points.

In the past year, Fosun International also ranked top 1% in the S&P Global’s Sustainability Yearbook 2024 (China Edition) and was recognized as an “Industry Mover”.

In recent years, Fosun International has consistently achieved excellent results in global ESG ratings. As of now, Fosun International’s MSCI ESG rating has remained AA since 2021. It received an HSI ESG rating of AA- and has been included in the Hang Seng Corporate Sustainability Benchmark Index for years. Furthermore, Fosun International’s FTSE Russell ESG score was consistently higher than the global industry average and it has been continuously selected as a constituent stock of the FTSE4Good Index Series.

Looking back on the past, Fosun has always paid attention to the reform and development of the global policies in the field of sustainable development. It has established a comprehensive ESG management system, integrated ESG management requirements into business management over the years, actively responded to national and global strategies in relation to sustainable development, ensured information security, promoted technology innovation, implemented “dual carbon” goals, protected the rights and interests of employees to promote sustainable management and value creation.

2024 marked the 20th anniversary of the United Nations (UN) Global Compact’s introduction of ESG concept and principles. Year 2024 also marked Fosun’s 10th anniversary as a UN Global Compact member. Since joining the UN Global Compact, Fosun fully supports the ten principles of the UN Global Compact in the areas including human rights, labor, environment, and anti-corruption, ensuring that it conducts business responsibly. At the same time, Fosun actively engages its member companies in the implementation of ESG strategies.

In November 2024, Fosun’s “Rural Doctors Program Empowering Rural Medical Services” was recognized as one of the selected cases in the UN Global Compact’s “20 Cases of Private Sector’s Sustainable Development in China for 20 Years”. A panel of UN representatives and academics has announced that the 20 selected best projects are exemplary cases of corporate sustainable development that demonstrate excellence in terms of economic viability, practicality, replicability, innovation, and inclusivity.

Looking ahead, Fosun will continue to deepen its core businesses, strengthen innovation, and drive globalization, promoting the long-term sustainable development of its business. By creating lasting value for all stakeholders, Fosun remains committed to fulfilling its mission of “Creating happier lives for families worldwide”.

About S&P Global Corporate Sustainability Assessment

The S&P Global Corporate Sustainability Assessment (CSA) was launched in 1999 and has developed into the world’s leading corporate sustainability assessment tool and database. As one of the oldest and largest global corporate sustainability assessments, S&P Global CSA covers sustainability assessment standards in 62 different industries, quantifying the information disclosure and performance of companies on various related issues in three dimensions: environment, society, governance and economy, thereby comprehensively reflecting the company’s sustainable development management level.

Axel Klarmeyer Joins Chamlion as CEO, Chamlion International

NANJING, China, Feb. 14, 2025 /PRNewswire/ — Chamlion, a pioneer in integrated dental 3D printing solutions, is pleased to announce the appointment of Axel Klarmeyer as the CEO of Chamlion International, overseeing the company’s international business operations. Axel’s extensive industry experience and leadership will be pivotal in advancing Chamlion’s strategic growth and expanding its footprint globally.

Axel Klarmeyer
Axel Klarmeyer

Axel Klarmeyer brings over 20 years of leadership experience in the dental and medical device sectors. Prior to joining Chamlion, Axel served as the CEO and Chief Sales Officer of BEGO, where he successfully led international expansion efforts and drove product innovation in dental technology. Axel’s extensive expertise in business strategy, market development, and operational excellence will be instrumental in strengthening Chamlion’s position in international markets.

“We are delighted to welcome Axel to Chamlion,” said Lin Wang, Chairman and Founder of Chamlion. “His deep industry knowledge and proven track record in driving business success in the dental industry, combined with his strategic insight and leadership, will be invaluable as we continue to expand globally.”

“Chamlion has built an impressive ecosystem that seamlessly integrates digital workflows with advanced 3D metal printing, revolutionizing the dental manufacturing industry,” said Axel Klarmeyer. “I am excited to join this dynamic team and leverage my experience to further expand Chamlion’s presence first and foremost in Europe and North America. Together, we will drive greater efficiency, innovation, and accessibility in dental prosthetic production worldwide.”

The combination of Axel Klarmeyer’s expertise and Chamlion’s pioneering technology marks a transformative moment for the global dental lab industry. As digital workflows and 3D metal printing rapidly become the new standard, Chamlion is leading the charge in delivering cost-effective, high-precision solutions that enhance production speed and quality. Axel’s leadership will play a crucial role in helping dental labs embrace intelligent manufacturing, streamline processes, and achieve unprecedented levels of efficiency and scalability.

About Chamlion

Chamlion is a dental 3D solutions provider based in Nanjing, China, offering a comprehensive package that covers the entire workflow of dental 3D printing—from materials to equipment and finished dentures, and a wide range of dental applications, from metal frameworks to zirconia dentures. With a network of over 330 global printing centers spanning France, the United States, Italy, Turkey, South Korea, Canada, and beyond, Chamlion is dedicated to advancing precision, efficiency, and scalability in dental manufacturing.