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Yalla Group Q3 Earnings: Quarterly revenue passes US$ 80 million as steady growth continues

HONG KONG, Nov 28, 2022 - (ACN Newswire via SEAPRWire.com) - On November 15, 2022, Yalla (NYSE: YALA) announced its Q3 2022 financial results. The results highlighted that Yalla had surpassed revenue expectations during the quarter and maintained its steady growth. While other companies in the social media and entertainment field may be struggling, Yalla's continued growth is a very positive sign. Revenue hits a quarterly highYalla's revenues were US$ 80.1 million in Q3 2022, representing a YoY increase of 12.3% and a QoQ increase of 5.2%. The figure surpasses the revenue guidance for the quarter (US$ 75 million) and represents a new record for the social media outfit. In terms of business segments, revenues generated from chatting services reached US$ 56.2 million, representing a YoY increase of 4.3% and a QoQ increase of 6.7%. Revenues generated from gaming services were US$ 23.9 million, representing a YoY increase of 36.9% and a QoQ increase of 2.3%. After the high-speed growth during the pandemic, Yalla's growth rate has stabilized. Thanks to strong operational management and product innovation, both business segments have achieved steady growth.In terms of profitability, due to spending on R&D, the promotion of new products, and a renewed focus on customer acquisition, Yalla's profit margin dropped slightly but generally remained broadly stable. In Q3 2022, the non-GAAP net income was US$ 29.4 million, representing a YoY decrease of 11.5% and a QoQ increase of 2.7%. The non-GAAP net margin was 36.7%, representing a slight decrease of 0.9% compared with Q2.For Q4 2022, Yalla's management expects the revenues to come in between US$ 70 million and US$ 76 million. This would represent a considerable YoY growth of between 3%-12%, as revenues in Q4 2021 came in at US$ 67.6 million.Hardcore games entered the testing stageIn the second half of 2021, Yalla announced the establishment of its subsidiary, Yalla Game. The business segment develops and runs a range of mid-core and hardcore games in the Middle East and North Africa (MENA). Yalla Game has recently created and launched its first hardcore SLG game - Merge Kingdom - and after nearly a year, the application has reached another major milestone.Merge Kingdom has now been released in its beta version in many MENA countries, Yalla management highlighted in the Q3 report. At present, Yalla Game is actively collecting user feedback and adjusting the product to meet client needs, the firm stated. Meanwhile, Yalla's management revealed that the company planned to release its second hardcore game in the MENA region and that more details would be announced by the end of this year. Positive signs for gaming monetizationIn 2021, Yalla launched its casual game portfolio, including Yalla Parchis, 101 Okey Yalla, and Yalla Baloot, in dozens of countries such as Colombia, Turkey, and Mexico. These products are showing considerable promise for monetization though they only generated limited revenues for now. In Q3 2022, Yalla Parchis ranked in the top five board games in 10 countries including Colombia, Mexico, Chile, and Spain. According to Yalla's management, the firm undertook activities in Q3 to enhance user acquisition. Taking the Spanish market as an example, Yalla launched an activity "Tomato Battle" with reference to "La Tomatina" - a traditional Spanish festival featuring the red fruit. This game attracted more than 50% of daily active users and increased the consumption of diamonds (top-up virtual currency) on the platform by over 20%.As for 101 Okey Yalla, Yalla added an independent chat room to the app during the quarter to meet the chatting needs of local users. According to Yalla's management, the number of paying users and the payment ratio of 101 Okey Yalla improved considerably, while its total revenue increased by over 100% compared with the previous quarter. It is also worth mentioning that Yalla has made many improvements to its flagship product, Yalla Ludo, to enhance the profitability of its game portfolio. In Q3, Yalla launched distribution gift cards for Yalla Ludo on its marketing channels, which improved the monetization of products. Meanwhile, Yalla added the applet Yalla Ludo to the IM product YallaChat, which gives users full access to the game assets and data in the application. A platform for future growthIn Q3 2022, the number of monthly active users (MAUs) was 30.9 million, representing a YoY increase of 19.1% and a QoQ increase of 3.3%. Growth in MAUs has been seen for 10 consecutive quarters. This is the first time that the MAUs of Yalla topped 30 million.With regards to paying users, Yalla has focused on improving the paying user conversion rate since 2022. The ratio of paying to non-paying users has increased from 30% at the end of 2021 to 37.4% in Q3 2022 - this is expected to increase further in the future.The development of mid-core and hardcore games and the further development of casual games also contributed to Yalla's rising costs. Yalla's research and development expenses in Q3 increased by 42.2% compared with the same period last year. In the field of casual games, Yalla increased its sales and marketing expenditure, which contributed to growing operating costs. In Q3, sales expenditure increased by 9% compared with the same period last year. Meanwhile, the cost of revenues increased by 26.3% compared with the same period last year.It is worth mentioning that Yalla Group has developed a very healthy cash position which will aid future expansion. Despite increasing expenditure, Yalla's cash and cash equivalents were US$ 391.2 million at the end of Q3 2022 - representing growth against the previous quarter. Yalla's positive cash flow is one of the reasons why I have been paying close attention to the company as rising interest rates increase the cost of growth for companies in need of borrowing. Yalla can even earn interest on its capital deposits. Closing Remarks Looking beyond future growth expectations, the stock looks attractive on value alone. The voice-centric social networking and entertainment platform doesn't look expensive by several metrics. It has a forward price-to-earnings ratio of 6.01, versus a sector average of 12.8, while its price-to-sales ratio is 2.14, above the industry average of 1.24. And given the size of its net cash position, it has an enterprise value-to-sales ratio of 0.72 versus a sector median of 1.95. Collectively, these metrics look positive. Considering the above, I'm expecting to see the share price push upward in the coming months towards $6 a share. This would bring the EV / share ratio closer in line with the sector average. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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The Hong Kong Institute of Directors Holds Silver Jubilee Dinner and Presentation Ceremony for Directors Of The Year Awards 2022

HONG KONG, Nov 25, 2022 - (ACN Newswire via SEAPRWire.com) - The Hong Kong Institute of Directors ("HKIoD") has announced the winners of the Directors Of The Year Awards ("DYA") 2022. As the flagship project of HKIoD, DYA is one of the most prestigious business accolades in Hong Kong and the first of its kind in Asia. It seeks to recognise outstanding boards and directors, publicise the significance of good corporate governance and promote good corporate governance and director professionalism. The Awards were presented during the Silver Jubilee Dinner that celebrates the 25th Anniversary of both HKSAR and HKIoD, both having operated since 1 July 1997.Financial Services and the Treasury (6th from the left, 1st row) bestows on the long-term loyal members of HKIoD souvenirs in recognition as Silver Jubilee Stars. They joined the membership in 1997, the inception year of HKIoD.Congratulations to the awardees, who are inspiring role models for all directors!This year's theme of work by HKIoD, notably in the Awards, is 'From Resilience to Sustainability', reflective of what directors have learnt over the years as resilience is the most important quality a company needs to survive in the ever-changing world and sustainability is the ultimate goal of every company.The winners have been recognised for their ability to cultivate resilience in their businesses to the degree that they are able to anticipate, prepare for and respond to incremental change in an age of great disruption, whilst setting the pace for excellent sustainability-focused leadership now and into the future. The winners of DYA 2022 in the various award categories are listed below: Listed Companies CategoriesExecutive Directors-- Mr TAI Chun KitFour Seas Group-- Ms TANG Mei Wah Town Ray Holdings Limited Boards-- Baguio Green Group Limited -- China Resources Beer (Holdings) Company Limited -- Tai Hing Holdings Group LtdNon-listed Companies CategoriesExecutive Directors-- Ms LINShun Heung, Ophelia Meiriki Japan Company Limited Boards-- Hong Yip Holdings LtdStatutory/Non-Profit Distributing Organisations CategoriesExecutive Directors-- Ms LI Sum, Helen The Institute of Internal Auditors Hong Kong Limited Non-Executive Directors-- Ms Cordelia CHUNGHong Kong Science and Technology Parks Corporation -- Mr Dennis HOChiu PingHong Kong Science and Technology Parks Corporation -- Mr Andrew JONES Kely Support Group Boards-- Competition Commission -- Board of Consumer Council -- General Committee of Federation of Hong Kong Industries -- Hong Kong Science and Technology Parks Corporation About Directors Of The Year AwardsThe Hong Kong Institute of Directors ("HKIoD") is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. HKIoD is a member institute of the Global Network of Director Institutes, a worldwide alliance of leading director institutes.About The Hong Kong Institute of DirectorsThe Hong Kong Institute of Directors is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. Website: http://www.hkiod.com.Media Enquiries:Strategic Public Relations Group LimitedBrenda Chan +852 2114 4396/ brenda.chan@sprg.com.hkChak Yau +852 2114 4395/ chak.yau@sprg.com.hkDirectors Of The Year Awards:The Hong Kong Institute of Directors Odessa So +852 2889 4988 / odessa.so@hkiod.comJoanne Yam +852 2889 1414/ joanne.yam@hkiod.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Far East Horizon Announces 2022 Interim Results

HONG KONG, Aug 29, 2022 - (ACN Newswire via SEAPRWire.com) - Far East Horizon Limited (Stock Code: 03360.HK), a leading financial services and industrial group in China, announced its interim results for the six months ended 30 June 2022.Financial ReviewIn the first half of 2022, the international and domestic environment was complex and volatile, with increasing risks and challenges. Although the environment was posing new challenges to China's stable economic growth, the economy generally demonstrated a steady recovery. In reliance upon China's real economy, the Group continued to adhere to the operational philosophy of "finance + industry", and achieved stable growth in overall results in spite of the complicated and ever changing macro environment.During the Review Period, the Group realized revenue of RMB17.72 billion, representing an increase of 9.46% year-on-year ("YoY"). Among which, the financial and advisory segment remained stable overall with a slight increase, accounting for 65.17% of the total income (before taxes and surcharges). Structurally, financial services maintained growth, while advisory services recorded decline. The industrial operation segment continued to record substantial growth with an increase of 21.13% YoY, accounting for over 30% of the total income (before taxes and surcharges). The profit attributable to holders of ordinary shares of the Company during the Review Period amounted to RMB2,842 million, representing an increase of 10.47% YoY, basic earnings per share reached RMB0.68, together with the return on average equity (ROE) of 13.58%, demonstrating a steady growth momentum.Financial Business Developed Steadily with Significant Growth in Industrial OperationIn the first half of 2022, with respect to market competition, focusing on market changes and customer needs, the Group continued to strengthen the practice of the concept of "model innovation", and accelerated its implementation at the level of financial services and industrial operations, so as to form differentiated advantages from strategy to tactics, thereby ensuring the healthy development of the Company in a highly uncertain environment.In terms of financial business, to address the changes in financial needs in the market, the Group took "urban upgrading and industrial private bank" as its core strategy and simultaneously promoted the strategy in four aspects, namely the industry, customer base, regions and products. At the same time, the Group continuously strengthened the operational efficiency and service coordination of inclusive finance, overseas business, PPP investment, non-performing asset management and other businesses to ensure high-quality and stable development. During the Review Period, the income (before taxes and surcharges) of the financial and advisory segment was RMB11.60 billion, representing an increase of 4.17% YoY; Income derived from financial services increased by 12.39% YoY. In particular, interest income contribution from inclusive finance, commercial factoring, PPP investment, overseas business, asset business and other new business directions amounted to RMB1,187 million, representing an increase of 35.91% YoY. Income derived from advisory services decreased by 39.23% YoY mainly due to the active adjustment and continuous optimization of the Group's service structure in response to customers' needs after changes in the external operating environment.During the Review Period, the overall asset quality of the Group remained safe and under control. The non-performing asset ratio remained at a low level of 1.06% as at 30 June 2022, which remained the same as at the end of last year.In terms of industrial operation, the Group continued to stay close to the local markets, innovated service models, strengthened operational efficiency, emphasized management effectiveness, and highlighted differentiated competitive advantages. The income of the industrial operation segment sustained continuous growth. The industrial operation segment, which comprises of Horizon Construction Development, Horizon Healthcare and others, realized a total income of RMB6,198 million, representing an increase of 21.13% YoY. Income of the industrial operation segment increased to account for 34.83% of the total income.In particular, as a leading equipment operation service provider in China, Horizon Construction Development actively expanded its business size and consolidated its competitive advantages. Horizon Construction Development realized an income of RMB3,565 million during the Review Period, representing an increase of 46.73% YoY. As a large medical group funded by social capital in China, Horizon Healthcare has been actively responding to the country's call to encourage the communities to establish hospitals and expand the supply of quality medical services, continuing its focus on areas with scarce medical resources, and building a hospital network with unique Far East characteristics. During the Review Period, Horizon Healthcare realized an income of RMB2,067 million, representing an increase of 4.05% YoY.In the first half of 2022, in the face of the complex and difficult external environment, the Group adhered to its original aspiration and followed its development vision of "vigorously building excellent enterprises", placed more emphasis on the persistence and effectiveness of value creation, and continuously created incremental value for shareholders, customers, partners and employees. In the second half of the year, the Group will reinforce its strategic focus and operational efficiency, focus closely on the real economy, use finance as the major means to provide service, enrich service forms, enhance service capabilities, strengthen strategic synergies, and connect domestic and overseas markets, so as to lay a solid foundation for the Company's sustainable development.About Far East Horizon LimitedFar East Horizon Limited is one of China's leading innovative financial companies focusing on the Chinese fundamental industries and leveraging the business model of integrating finance and industry to serve enterprises of greatest vitality with the support of the fast-growing and enormous economy in China. Based on its operational philosophy of "finance + industry", Far East Horizon endeavours to realize its vision of "Integrating global resources and promoting China's industries" by making innovations in products and services to provide our customers with tailor-made integrated operations services. Over the past more than 10 years, the Group has been leading the development of the industry, and has been listed among the Fortune China 500 and Forbes Global 2000.Over the past two decades, the Group has evolved from a single financial service company into an integrated service provider with a global vision centered on China so as to facilitate national economic and sustainable social development. With the creative integration of industrial services and financial capital and with unique advantages in the organization of resources and value added services, we provide integrated finance, investment, trade, advisory and engineering services in healthcare, cultural & tourism, engineering construction, machinery, chemical & medicine, electronic information, public consuming, transportation & logistics, urban public utility as well as other fundamental sectors.The Group, headquartered in Hong Kong, has business operations centers in Shanghai and Tianjin, and has offices in major cities throughout China such as Beijing, Shenyang, Ji'nan, Zhengzhou, Wuhan, Chengdu, Chongqing, Changsha, Shenzhen, Xi'an, Harbin, Xiamen, Kunming, Hefei, Nanning and Urumqi, forming a client service network that covers the national market. The Group has been successfully operating its multiple specialized business platforms in China and abroad in financial services, industrial investment, hospital investment and operations, equipment operation services, exquisite education, trade brokerage, management consulting, engineering services, etc.The Company was officially listed on the Main Board of The Stock Exchange of Hong Kong Limited on 30 March 2011. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Bank of Qingdao Announced its 2022 Interim Results

HONG KONG, Aug 26, 2022 - (ACN Newswire via SEAPRWire.com) - Bank of Qingdao Co., Ltd. ("Bank of Qingdao" or the "Bank"), the largest City Commercial Bank in Shandong Province, China, announced its interim results for the six months ended June 30, 2022 (the "Reporting Period").In the first half of 2022, problems such as supply chain disrupted by the epidemic and energy shortages caused by the Russia-Ukraine conflict continued to ferment and the risk of global economic "stagflation" increased. However, the Bank of Qingdao has always centering on the development vision of "Innovative Finance, Brilliant Banking", the Bank is firmly committed to the strategic goal of "being a technology-driven bank that offers new quality financial products with lean management and outstanding features", the sustainable development capacity of the Bank is constantly enhanced, and set a record against the market.The Net Profit Increased Stably Credit Assets Increased SteadilyBank of Qingdao continued optimizing the structure of asset and liability while increasing support to the real economy, and strove to expand its intermediary services. As at the end of the Reporting Period, the Company's operating income amounted to RMB6.211 billion, representing an increase of RMB884 million or 16.60% YoY. In addition, during the reporting period, total customer deposits reached about RMB 330.030 billion, an increase of 5.26%. Among them, personal deposits broke through the 120 billion mark, an increase of 3.77%.In terms of performance indicators, the company's net profit increased rapidly. During the Reporting Period, the accumulated net profit was RMB2.060 billion, representing an increase of 12.40% over the same period of last year. Net profit attributable to shareholders of the parent company amounted to RMB2.018 billion, representing a year-on-year increase of 12.28%.In terms of asset quality, Bank of Qingdao continuously strengthened the quality control of credit assets. While the credit assets grew steadily, the bank strengthening the comprehensive remediation of overdue loans, non-performing loans and other risky loans and strived to minimize the cost of each risk. The credit quality maintaining steady and promising. As at the end of the Reporting Period, the non-performing loans ratio of bank continuously stable and declining, the non-performing loans ratio decreased by 0.01 percentage point as compared with that at the end of last year to 1.33%. Provision coverage ratio was 209.07%, representing an increase of 11.65 percentage points as compared with that at the end of the previous year, further improve the ability of risk resistance.Meanwhile, Bank of Qingdao expanded its credit support for the real economy and increased its risk-weighted assets. In terms of capital replenishment, the Company raised a net capital of RMB4.154 billion through A share and H share rights issue, to supplement core tier-one capital, improve the level of capital adequacy, and further improve its capacities on risk resistance and supporting the development of the real economy. Retail bankingDuring the Reporting Period, Bank of Qingdao saw record new retail customers in a continuously optimized customer base structure, the bank held RMB276.398 billion assets of retail customers, representing an increase of RMB22.490 billion or 8.86% as compared with that at the end of the previous year. Besides, the retail strategy of the bank achieved remarkable results, retail deposits continued to grow while the payroll credit business was booming, the balance of the Bank's retail deposits amounted to RMB128.674 billion, representing an increase of RMB18.244 billion or 16.52% as compared with that at the end of the previous year, accounting for 38.99% of total customer deposits, representing an increase of 3.77 percentage points as compared with that at the end of the previous year.In terms of retail loans, Bank of Qingdao developed inclusive finance and provided loan services for individual industrial commercial households and small and micro enterprises. On the premise of meeting the regulatory requirements, it steadily developed personal housing loans and increased the proportion of Internet loans granted in the province to build its own Internet loan brand. During the Reporting Period, the Bank vigorously developed its self-operated Internet loan "Hairong Yidai" by launching "Hairong Yidai - Convenient Loans" for residents in the province and optimizing such products as "rural revitalization loan" and "easy loans for stores", thereby forming a complete sequence of self-operated Internet loan products. As at the end of the Reporting Period, the business balance from "Hairong Yidai" reached RMB169 million, representing an increase of 233.80% as compared with that at the end of the previous year.In terms of credit card business, Bank of Qingdao upheld the principle of prudent risk management for its credit card business by strengthening operational compliance and developing customer base. During the Reporting Period, the accumulated transaction amount was RMB36.921 billion, representing a year-on-year increase of 56.31%.In term of the wealth management and private banking business, Bank of Qingdao adhering to the "customer-centric and market-oriented" service philosophy, the Bank is committed to building a professional service team and implementing customer segmentation by leveraging on market opportunities, so as to improve its customer service capabilities and drove a steady increase in the number of customers and asset size. As at the end of the Reporting Period, the Bank had 53.6 thousand retail customers with assets under management of over RMB1 million, an increase of 4.1 thousand or 8.28% from the end of the previous year, for a total of RMB123.772 billion assets managed by the Bank, an increase of RMB9.812 billion or 8.61% from the end of the previous year.In term of the customer service management, warm service is the operating feature of Bank of Qingdao. The bank has always attached importance to the promotion of network services, creating industry benchmarking and delivering "BQD services". The bank closely aligning with the theme of retail business development in service management, with continuous efforts to promote service experience management, and further expanded the intension and extension of BQD service. From the earliest standardized service to the warm service and then to the current advocated value-based service, BQD services always focus on customer needs, continuously optimized and adjusted the way of service management, coordinated and formed a synergy to improve customer experience, builds a closed loop from service quality management to service experience management, creating a new advantage of value-based service management to establish its core competitiveness in user experience, thus break new ground for the service management value.Corporate bankingIn terms of corporate banking, Bank of Qingdao established a grid-based marketing system and a front-end marketing mechanism to strengthen the service support capability of the headquarters. In addition, the Bank made precise efforts to expand customer base, increased income from intermediary business and reduced capital expenditures, driving a steady growth in corporate business. Bank of Qingdao's corporate deposits gained momentum. The Bank achieved steady growth in corporate deposits by capturing policy opportunities through "headquarter-to-headquarter" marketing, reaching out to industrial customers and acquiring customers from the source in bulk. The balance of corporate deposits (excluding accrued interest) reached RMB201.246 billion, accounting for 60.98% of the balance of various deposits (excluding accrued interest). During the Reporting Period, the Bank's efforts in customer base construction gradually emerged as a driver for increased deposits, with the average daily deposits from new corporate customers increasing by RMB3.610 billion and the average daily deposits from strategic customers at headquarter level reaching RMB82.820 billion, representing an increase of RMB11.551 billion as compared with that at the end of the previous year.In terms of the corporate loans, Bank of Qingdao fully implemented the new development concept with focusing on green and low-carbon development to develop a distinctive blue-finance brand. During the Reporting Period, amid challenges from economic downturn and decline in effective demand, the Bank seized quality assets and increased its credit facilities, balance of corporate loans (including discounted bills and excluding accrued interest) amounted to RMB189.087 billion, representing an increase of RMB21.624 billion as compared with that at the end of the previous year, representing an increase of 12.91%.In terms of the corporate customers, Bank of Qingdao revolving around customers, focused on building the customer base by promoting "the basic management and grass-roots management strategy" to expand foundational customer base, and adhering to hierarchical management to optimize customer structure, so as to achieve increased number and improved quality of customers. During the Reporting Period, the Bank paid close attention to the reserve of high-quality projects, followed major national and regional strategic plans and provincial and municipal industrial development plans, and strengthened accurate marketing to listed or to-be-listed, specialized, fine, characteristic and innovative companies specializing in green finance, blue finance and carbon finance. As at the end of the Reporting Period, the total corporate customers who have opened accounts with the Bank amounted to 194.2 thousand, representing an increase of 14.5 thousand or 8.07% from the end of the previous year. As at the end of the Reporting Period, Bank of Qingdao continued to adhere to the inclusive business development policy of "serving small and micro enterprises (SMEs) based on the local economy", and to focus on the three business directions of "technological finance, agricultural finance and livelihood finance" for strengthening product innovation and improving service level, so as to support development of SMEs. Since the epidemic, the Bank has implemented the support policies of governments at all levels and regulatory authorities for SMEs by launching "Easy Loan", "Growing Loan", "e Tax Loan" and other characteristic businesses, to fully support SMEs to fight against the epidemic and resume production. As at the end of the Reporting Period, the balance of inclusive loans to SMEs amounted to RMB25.578 billion, up by RMB3.572 billion or 16.23% from the end of the previous year, higher than the growth of the Bank's all other loans.Financial Market BusinessIn terms of the financial market business, Bank of Qingdao optimized the asset structure, and adhered to the development principle of light capital to enrich investment varieties for multiple channels to increase income and profits. The Bank actively promoted the issuance of capital bonds with no fixed term to provide strong support for business development. While continuously strengthening the comprehensive strength of wealth management, the Bank continued to enrich the product portfolios to give play to marketing commission channels. In addition, the Bank gave full play to the advantages of corporate banking qualification to expand the coverage of issuance and underwriting business, which significantly improved the depth and breadth of investment banking business, and increased its brand influence year by year. Bank of Qingdao responded to regulatory orientation, focused on market changes, continued to optimize the investment structure, actively participated in market transactions, adhered to the principle of light-capitalization development, increased total assets while controlling the capital consumption ratio, strengthened the swing trading of standardized assets, and improved comprehensive profitability. As at the end of the Reporting Period, the Bank's proprietary amounted to RMB203.933 billion, representing an increase of RMB20.370 billion or 11.10% as compared with that at the end of last year. Among them, the scope of bond investment reached RMB129.986 billion, representing an increase of RMB18.077 billion or 16.15% as compared with that at the end of last year, mainly due to the increase in investment in non-financial corporate bonds, local government bonds and railway bonds; RMB40.776 billion investments in public fund products, representing an increase of RMB803 million or 2.01% as compared with that at the end of last year, mainly due to the increased investment in bond-type public funds. In terms of the Interbank business, Bank of Qingdao actively responded to the new market making rules, and obtained the qualifications as a spot bond market maker in the bond market, becoming the first city commercial bank spot bond market maker in Shandong Province. During the Reporting Period, the Bank continued to obtain the primary dealer qualification for open market business in 2022. Through reasonable pricing and continuous and stable financing, the Bank actively carried out various businesses, continuously improved the quality and comprehensive strength of interbank market transactions, and gave full play to the active role of primary dealers in the open market, contributing to the healthy and stable operation of the interbank market business.During the Reporting Period, the net value of the Bank of Qingdao wealth management products was stable, with obvious comparative advantages among peers. The Bank has established and issued industry-themed fixed-term products, with product series continuing to be enriched. According to the Ranking Report on Wealth Management Capability of Banks (2022 Q2)" released by PY Standard, BQD Wealth Management, Bank of Qingdao's wholly-owned subsidiary, ranked sixth in comprehensive wealth management capability among urban and commercial wealth management institutions. Moreover, BQD Wealth Management was awarded the Golden Honor Award for Outstanding ROI Wealth Management Companies and Golden Honor Award for Outstanding Innovative Wealth Management Companies by PY Standard again by virtue of its excellent comprehensive strength and good customer reputation, proved the Bank's external wealth management financing channel expansion achieved fruitful results, and the management scale and profitability achieved a steady increase.During the Reporting Period, the scope and of scale of investment banking business of Bank of Qingdao has been significantly improved, so did the Bank's brand influence. During the Reporting Period, the Bank recorded the best prices of many projects among those comparables, allowing the Bank to satisfy the low-cost financing needs of good large businesses with less capital, which thus increased the customer loyalty and enhanced customer relationship. Besides, the Bank seized the opportunity for issuance and achieved good performance, and therefore established its image in the bond market by virtue of its excellent comprehensive business capabilities. During the Reporting Period, the Bank ranked first in terms of both scale and number of underwritings among issuers with corporate credit of AA and AA+ in Shandong Province, shown a competitive edge in field of marketization of bond business.In the second half of 2022, China's economy will continuously recover, meanwhile, the "The 20th National Congress of the Chinese Communist Party" will be held in the second half of 2022. This is an important moment for comprehensively building a modern socialist country and marching on a new journey toward the second centenary goal, and the Shandong Province and Qingdao City will continue to promote the replacement of old growth drivers with new ones for optimisation and acceleration. The positive fiscal policy will enhance its effectiveness in all-around way, together with the supports of the stable monetary policy in its aggregate structure and the regulatory policy to stabilise growth and adjust structures, the pressure on the banking sector is expected to ease gradually. Bank of Qingdao will continue to adhere to the basic operation guiding ideology of "deep cultivation and fine operation, intensified promotion, optimized structure, and sustained development" by taking concerted efforts and actions at all levels of the Bank proactively and quickly, and seizing the market to continue the solid development momentum in the first half of the year, so as to ensure the full completion of the annual operating plan. About Bank of Qingdao Co., Ltd.Bank of Qingdao Co., Ltd. Is founded in Nov 1996, which is the first main board listed bank in Shandong Province and the second "A + H" share listed city commercial bank in China. It has ranked among the 500 top banks in the world for many consecutive years. In Dec 2015, the company was listed on the main board of the stock exchange of Hong Kong (03866.HK). In Jan 2019, the company was listed on Shenzhen Stock Exchange (002948.SZ). Bank of Qingdao mainly provides customers with services and products such as corporate and personal deposits, loans, payment and settlement. Driven by the development of retail banking, corporate banking and financial market, the bank initially formed a relatively solid customer base and explored a development path with distinctive characteristics and high quality. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Hypebeast Ltd. (0150.HK) ended the financial year with another all-time high in revenue and profitability

HONG KONG, Jun 29, 2022 - (ACN Newswire via SEAPRWire.com) - Hypebeast Limited (Stock Code: 0150.HK) is the global leading platform for contemporary culture and lifestyle, and a premier destination for editorially-driven commerce and news. The Board of Directors of Hypebeast Limited has announced the Group's annual results for the year ended 31 March 2022 ("FY2022"). -- Revenue amounted to HK$895.6 million in FY2022, up from HK$674.2 million in FY2021, representing an increase of HK$221.4 million or 32.8%.-- Gross profit margin rose by 11.7 percentage points from 49.6% in FY2021 to 61.3% in FY2022. -- The Group delivered net profit of HK$100.2 million for FY2022, a 41.9% increase compared to FY2021. The increase translated to an improvement of net profit margin by 0.7 percentage points, resulting in an increase from 10.5% in FY2021 to 11.2% in FY2022.-- Total value in signed contracts for the Media Segment increased by 31.7% during FY2022 as compared to the prior year.-- 12-month average website monthly unique visitors (number of user who requests web pages across Hypebeast, Hypebae and Popbee platforms in a month) amounted to 16.4 million, representing a 5.1% increase over FY2021, and aggregated social media following (total number of followers on all third-party social media platforms, including but not limited to Facebook, Instagram, Twitter) increased from 26.1 million as at 31 March 2021 to 32.4 million as at 31 March 2022.The Group recorded strong revenue growth in FY2022 and reported another all-time high in revenue and profitability. Revenue amounted to HK$895.6 million in FY2022, up from HK$674.2 million in FY2021, representing an increase of HK$221.4 million or 32.8%. Gross profit margin rose by 11.7 percentage points from 49.6% in FY2021 to 61.3% in FY2022. The Group delivered net profit of HK$100.2 million for FY2022, a 41.9% increase compared to FY2021. The increase translated to an improvement of net profit margin by 0.7 percentage points, resulting in an increase from 10.5% in FY2021 to 11.2% in FY2022.Demand for the Group's media and agency services remained strong, with total value in signed contracts for the Media Segment having increased by 31.7% during FY2022 as compared to the prior year. As COVID-19 pandemic's intensity wanes and pandemic-related restrictions continue to ease, the Group's events production and offline partnerships under the Media Segment have surpassed pre-COVID-19 and FY2019 levels. The Group noted increasing demand for offline campaigns and activations as global marketing spend continues to expand. 12-month average website monthly unique visitors (number of user who requests web pages across Hypebeast, Hypebae and Popbee platforms in a month) amounted to 16.4 million, representing a 5.1% increase over FY2021, and aggregated social media following (total number of followers on all third-party social media platforms, including but not limited to Facebook, Instagram, Twitter) increased from 26.1 million as at 31 March 2021 to 32.4 million as at 31 March 2022. The Group aims to attract and reach a wider user-customer base through its development of new editorial properties, such as Hypegolf that focuses on golf and lifestyle, Hypeart on art and artists, and Hypemoon on Web 3.0 projects and technologies. The Group continues to explore similar opportunities by establishing various online and offline channels and touchpoints in order to drive the Group's brand awareness and increase engagement with new and existing users and customers. The HBX physical retail shop located in Central, Hong Kong remains a strong marketing window and attraction point for customers to participate in the Hypebeast ecosystem offline. In addition, the Group's U.S. flagship store opened in June 2022 (subsequent to the reporting financial year), spanning seven floors, housing the U.S. East Coast office, the HBX New York flagship store, a Hypebeans cafee, as well as event spaces. The New York flagship store will support execution and accelerate growth of our strong North American customer base and serve as a focused point of marketing for the E-Commerce and Retail Segment. Kevin Ma, Executive Director, Chairman, and CEO of Hypebeast, said: "We have recorded yet another all-time high in revenue and profitability, showing the strategic choices made both before and during the unprecedented COVID-19 context have paid off. The FY2022 result is the best demonstration of how the Group is geographically and strategically well-positioned to continue to capture further growth opportunities. Despite today's uncertainties, we are ambitious and will continue to focus on building and strengthening all facets of Hypebeast through market expansion, category diversification, and offering an omnichannel experience through our e-commerce platform and physical stores, in particular the newly opened HBX New York flagship store."A breakdown of this year's financial highlight is as follows:FY2022 HK$'000 FY2021 HK$'000Revenue 895,632 674,212Gross Profit 549,313 334,127Gross Profit Margin 61.3% 49.6%Selling and marketing expenses (160,391) (112,791)Administration and operating expenses (202,650) (125,005)Professional fees related to the Merger (30,185) -EBITDA (Note) 174,252 122,596Net profit 100,167 70,584Net profit margin 11.2% 10.5%Earnings per share- Basic (HK cent) 4.88 3.47- Diluted (HK cent) 4.87 3.45Note: Earnings before interest, tax, depreciation and amortization ("EBITDA") is calculated as profit before tax + interest expense + depreciation + amortization expense.For further details on the Annual Results performance, visit the Group's corporate website to view the full results announcement.https://hypebeast.ltd/investorsFor investor inquiries, please contact:investors@hypebeast.com For more information, please contact:media@hypebeast.com Strategic Financial Relations LimitedVicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hkIvy Chan Tel: (852) 2864 4890 Email: ivy.chan@sprg.com.hkWebsite: https://www.sprg.asia/ About Hypebeast Ltd. (Stock Code: 0150.HK)Hypebeast is a leading global platform for contemporary culture and lifestyle, and a premier destination for editorially-driven commerce and content. Founded in 2005, it became a publicly listed media company in 2016 and today boasts a global readership across North America, Asia Pacific, Europe and more. The Group has expanded its publishing brands to a wider scope in recent years, encompassing Hypebeast and its multiple content distribution platforms, e-commerce and physical store HBX, and agency Hypemaker. For more information, please visit www.hypebeast.ltd. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Seng Fong Holdings Berhad Obtains SC Approval for Main Market Listing

KUALA LUMPUR, Apr 26, 2022 - (ACN Newswire via SEAPRWire.com) - Seng Fong Holdings Berhad, a rubber processor producing and trading Standard Malaysia Rubber (SMR) and premium grade block rubber, via its subsidiaries, is pleased to announce that the Company has, in the month of April 2022, obtained the approval of the Securities Commission Malaysia (SC) to list on the Main Market of Bursa Malaysia Securities Berhad.Managing Director of Seng Fong, Mr. Er Hock LaiWith history tracing back to 1986, Seng Fong is principally involved in the processing of Standard Malaysia Rubber (SMR) and premium grade block rubber as well as trading in block rubber, where its customers are mainly tyre manufacturers or international rubber traders. The Company also operates a Malaysian Rubber Board-approved laboratory for the testing, grading and certification of the processed block rubbers.According to Seng Fong's draft initial public offering (IPO) prospectus posted on the Securities Commission Malaysia website, the listing exercise involves the initial public offering of up to 160.87 million ordinary shares comprising a public issue of 90.81 million shares and an offer for sale of up to 70.06 million shares.The IPO shares is divided into an institutional offering of up to 118.68 million shares representing 22.9% of the enlarged issued shares and, a retail offering of up to 42.20 million shares representing 8.1% of the enlarged issued shares.The institutional offering comprises:1. 64.87 million IPO shares representing 12.5% of the enlarged issued shares to bumiputera investors approved by the Ministry of International Trade and Industry2. 53.81 million IPO shares representing 10.4% of the enlarged shares to other institutional and selected investors The retail offering comprises:1. Malaysian public- 12.97 million IPO shares representing 2.5% of the enlarged issued shares to bumiputera investors- 12.97 million IPO shares representing 2.5% of the enlarged issued shares to non-bumiputera investors2. 16.25 million IPO shares representing 3.1% of the enlarged issued shares to eligible directors and employees of the Company as well as persons who have contributed to the success of the Company and its subsidiaries Managing Director of Seng Fong, Mr. Er Hock Lai said, "We would like to express our appreciation to the SC for approving our IPO on the Main Market of Bursa Securities. The listing will enhance our reputation and assist us in expanding our customer base globally while allowing us to gain access to the capital markets to raise funds for future growth opportunities.""The listing also enables us to raise the funds we need for the installation of a biomass system that will provide a source of fuel for our processing operations while at the same time achieve cost savings by reducing overall fuel costs. We are also installing two solar system units to help us lower electricity cost as well as help us achieve our sustainability goals of reducing greenhouse gas emissions".A portion of the proceeds from the listing will also go to working capital needs, which will include increasing production capacity and repaying bank borrowings, which includes a term-loan for the Solar Systems installation.Group Managing Director/Chief Executive Officer of Hong Leong Investment Bank Berhad (HLIB), Ms. Lee Jim Leng said, "We congratulate Seng Fong for having received the approval of the SC for its listing and look forward to working with its management in preparing for the listing on the Main Market. Seng Fong is a solid business with a history going back to 1986 in an industry where demand continues to grow steadily. We have no doubt that the Company will find favourable reception with investors".Almost all of Seng Fong's revenue is derived from sales to international customers for the financial years ended 31 December 2019 to 2021.Hong Leong Investment Bank Berhad is the Principal Adviser, Underwriter and Placement Agent.Seng Fong Holdings Berhad: http://sengfongholdings.com/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Universal Medical Announces 2021 Annual Results: Business with Steady Promotion, Net Profit of Hospital Group Increased by 39.5%

HONG KONG, Mar 29, 2022 - (ACN Newswire via SEAPRWire.com) - Genertec Universal Medical Group Company Limited (the "Company" or "Universal Medical", and together with its subsidiaries, the "Group"; Stock Code: 2666.HK) is pleased to announce annual results for the year ended 31 December 2021.FINANCIAL HIGHLIGHTS-- For the year ended 31 December 2021, the revenue amounted to approximately RMB9,914.3 million, representing an increase of 16.3% as compared with that of approximately RMB8,521.2 million for 2020. -- For the year ended 31 December 2021, the profit before tax amounted to approximately RMB2,691.8 million, representing an increase of 13.8% as compared with that of approximately RMB2,365.0 million for 2020. -- For the year ended 31 December 2021, the profit for the year attributable to owners of the parent amounted to approximately RMB1,835.2 million, representing an increase of 11.4% as compared with that of approximately RMB1,647.5 million for 2020.-- As at 31 December 2021, the total assets amounted to approximately RMB69,899.8 million, representing an increase of 13.6% as compared with that of approximately RMB61,511.0 million as at 31 December 2020. -- As at 31 December 2021, the equity attributable to owners of the parent amounted to approximately RMB13,104.0 million, representing an increase of 21.7% as compared with that of approximately RMB10,770.5 million as at 31 December 2020. -- For the year ended 31 December 2021, the return on equity was 15.37%, and the return on total assets was 3.09%.2021 was the opening year of the "14th Five-Year Plan". The Group fulfilled the responsibilities as a central enterprise, adhered to serving the "Healthy China" strategy, and firmly moved forward in the field of medical and healthcare. In 2021, the Group steadily promoted business and improved overall operating performance with a revenue of RMB9,914.3 million, representing an increase of 16.3% as compared to the previous year; net profit of RMB2,030.5 million, representing an increase of 11.9% as compared to the previous year; net profit attributable to owners of the parent of RMB1,835.2 million, representing an increase of 11.4% as compared to the previous year; return on total assets (ROA) of 3.09%, and return on equity attributable to ordinary shareholders (ROE) of 15.37%.Hospital Group Improved Quality and Efficiency, with Net Profit Increasing by 39.5%.In 2021, the Group continued to consolidate the accounts of medical institutions into its own hospital group, and in the context of normalized pandemic prevention and control, the Group orderly advanced the post-investment management of medical institutions, and continuously enhanced the three core capabilities of "discipline", "operation" and "service", to build the overall advantages of the hospital group in terms of safety, effectiveness, accessibility, and humanities as a way to achieve steady progress in operating efficiency. As of 31 December 2021, the number of consolidated medical institutions increased to 45 (including 3 Grade III Class A hospitals and 20 Grade II hospitals), with a total of 10,376 beds. The hospital group launched a total of 372 construction projects, including 10 new outpatient and inpatient multifunction building projects, with a planned number of new beds exceeding 4,000 in total. In 2021, the hospital group contributed a revenue of RMB4,608.4 million to the Company, representing an increase of 27.2% as compared to the previous year, and its proportion in the total revenue from the business of the Group increased from 42.5% in 2020 to 46.5%. Without taking into account the hospital investment platform, the hospital group achieved a total gross profit of RMB585.0 million, representing an increase of 53.9% as compared to the previous year, a total net profit of RMB214.3 million, representing an increase of 39.5% as compared to the previous year, a gross profit margin from operations of 12.7% and a net profit margin of 4.65%.From the perspective of operation, in the post-pandemic era, the number of beds and the overall operation of its medical institutions have shown a recovery growth. Meanwhile, with the implementation of group management and control of hospitals, the core capabilities of disciplines, operations and services have been gradually improved to lay the groundwork for sustainable growth trends in the healthcare business. Income per bed steadily increased from approximately RMB380,000 in 2019 to approximately RMB420,000 in 2021, and the efficiency of bed use was further improved; the volume of outpatient and emergency businesses increased significantly, overall outpatient and emergency visits in 2021 increased by 945,800 as compared to that of 2019, with a growth rate of 19.9%, which exceeded the market average rate; the structure of hospital expenses was optimized, and the average inpatient expenses of Grade II hospitals increased organically, with an increase of 10% as compared to that of 2019.The Expansion of the Industrial Chain Achieved Initial Results, and the Advantages of Large-scale Development was Gradually EstablishedFocusing on the core resources of the hospital group, the Group consolidated the business foundation in various fields such as Internet-based healthcare, equipment maintenance, and medical testing over the past year. While efficiently serving the Group's internal hospitals, the Group actively expanded external customers and gradually established advantages from scalable development. For instance, in terms of Internet-based healthcare, the Internet-based healthcare platform "Universal Healthcare" became a unified Internet portal for the healthcare group, the core carrier of the healthcare industry chain business, and provided support and assistance for the digital management of specialties. As of 31 December 2021, "Universal Healthcare" was officially launched for 34 internal and external medical institutions with more than 3,000 online doctors and 750,000 registered users, and served more than 2 million people. It has developed an online + offline service model, and realized a one-stop medical treatment for patients covering the whole process; in terms of equipment maintenance, the Group actively promoted an advanced business model of "managing medical equipment for a full life cycle" to provide hospitals with standardized maintenance service and comprehensive equipment operation and management services. As of 31 December 2021, the Group maintenance business recorded an annual revenue of RMB36.96 million, representing an increase of 194.8% as compared to 2020; in terms of medical testing, relying on clinicians and medical teams from subordinate medical institutions, the Group has carried out medical testing business to provide more accurate and professional testing services to local medical institutions nearby. Among them, the testing center of Xi'an XD Group Hospital recorded an annual revenue of RMB89.96 million, representing an increase of 48.3% as compared to 2020.Financial Business Developed Steadily, with an Increase of 15.6% in Gross Profit of Interest MarginWith years of experience in the industry, the Group has built efficient market capabilities, flexible financing capabilities, and professional risk control capabilities to provide customers in public hospitals, public utilities and other fields with comprehensive financial solutions centered on financial leasing, as well as industry, equipment and financing consulting, department upgrade and other services, which has fully guaranteed the continuous profitability of the Group as the hospital group grows. In 2021, as the regulatory system for the financial business of central enterprises was further improved, we further enhanced operation and management capabilities on the basis of sound risk prevention and mitigation to steadily advance financial business. The Group recorded interest income of finance services of RMB4,469.0 million, representing a year-on-year increase of 8.3%, and the gross profit of interest margin of RMB2,640.6 million, representing a year-on-year increase of 15.6%. The net interest spread was 3.56%, and the net interest margin was 4.05%. All of the aforesaid business indicators remained at a leading position in the industry.While its financial business continues to expand steadily, the asset quality remains at an industry-leading level. As of 31 December 2021, its net interest-earning assets reached RMB61,127.6 million, representing an increase of 11.9% from the beginning of the year; the non-performing asset ratio was 0.98%, representing a decrease of 0.02 percentage point from the end of 2020; the overdue ratio (30 days) was 0.76%, representing a decrease of 0.18 percentage point from the end of 2020; and the provision coverage ratio was 238.29%, representing an increase of 32.77 percentage points from the end of 2020.Prospect for the FutureIn next year, following the overall deployment of the "14th Five-Year Plan", the Group will continue to actively carry out the mission of safeguarding life and health with quality medical care, give full play to the advantages of group-based management and control to comprehensively improve the lean management, and build a digital hospital management group. The Group will build core capabilities in pursuing integrated development of featured specialties such as oncology and nephrology, and extend industrial chain services around the core resources of the hospital group to make breakthroughs in the high-quality development of the entire group, and create greater returns for all Shareholders!About Genertec Universal Medical Group Company Limited (2666.HK)Genertec Universal Medical Group Co., Ltd ("Universal Medical") is a publicly listed state-owned enterprise committed to China's healthcare industry. China General Technology (Group) Holding Co Ltd., one of the backbone SOEs directly supervised by the central government is the controlling shareholder of the Company. Universal Medical focuses on the fast-developing healthcare industry in China, with medical services as the core and financial business as the foundation. The Company harvests modern management concepts, professionals, quality medical resources with solid financial strength, and an inclusive corporate culture. Altogether strives to build a reliable healthcare conglomerate and develop a healthcare ecosystem that all can mutually share and benefit. The Company owns 62 medical institutions, distributed in 14 provinces and municipalities such as Shaanxi, Shanxi, Sichuan, Liaoning, Anhui, Hebei, Beijing, and Shanghai, including 5 Grade III Class A hospitals and 30 Grade II hospitals, with a total of more than 16,000 beds. In the future, Universal Medical will continue to grasp opportunities posed by China's healthcare sector, actively respond to the "Health China" program and make contributions to China's public health industry. www.universalmsm.com.This press release is released by PEANUT MEDIA LIMITED on behalf of Genertec Universal Medical Group Company Limited.For further information, please contact:PEANUT MEDIA LIMITEDLu Jing / Jing GaoDirect Line: +0755-61619798+8210Email: hswh@czgmcn.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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ZhongAn Online Released 2021 Annual Report

HONG KONG, Mar 25, 2022 - (ACN Newswire via SEAPRWire.com) - ZhongAn Online P & C Insurance Co. Ltd. ("ZhongAn Online" or "ZhongAn" or the "Company", HKEx: 6060) released its audited annual report for the year ended December 31, 2021 ("the reporting period"). The Company leveraged its strengths in insurance technology and rich resources connected through its ecosystems to further promote insurance inclusion. The Company provided insurance services for more than 500 million users with a caring hand, the number of customers receiving claim payment reached 129 million in 2021. Adhering to the strategy of "sustainable growth with quality" and technology-driven cost reduction and efficiency improvement, the Company printed solid numbers in 2021. Gross written premium (GWP) reached RMB20.37 billion, representing a year-on-year increase of 21.9%. Combined ratio improved to 99.6%, marked the first underwriting profitable fiscal year in its history. Net profit attributable to owners of the parent reached RMB1.16 billion, representing a year-on-year increase of 110.3%, on the back of increased operational efficiency and robust growth of investment income.Under the dual-engine growth strategy of "Insurance + Technology", ZhongAn exported its insurance technology capability and advanced Insuretech know-how to insurers and brokers, to fuel the digitalization in the insurance industry worldwide. During the reporting period, ZhongAn's technology export revenue reached RMB520 million, representing a year-on-year increase of 42%, and served 109 customers in the insurance industry.Insurance segment - health ecosystem and digital lifestyle ecosystem remain top contributors with favorable channel mix shiftThe health ecosystem recorded RMB7.69 billion in GWP, representing a year-on-year increase of 16%. The Company provided health protection to approximately 25.86 million insured customers in 2021, the number of paying users of individual health insurance reached 18 million, representing a year-on-year increase of 30%.To achieve such performance, ZhongAn upheld to its philosophy of health inclusion. ZhongAn upgraded its flagship product, Personal Clinic Policy series, incorporating over 30 special rare disease drugs for the youth and launched exclusive medical protection plans for different customer groups such as chronic patients, women and the elderly. The latest version of Personal Clinic Policy also came with more value-added services including cancer screening, Internet hospital, traditional Chinese Medicine and so on.The Company is committed to provide one-stop "insurance coverage + medical services" experience for users by expanding products and services from required medical scenarios such as in-patient and critical illness, to cover the daily needs of outpatient and emergency, critical illness follow-up treatment, chronic disease treatment, rehabilitation management, optional surgery and other scenarios.The digital lifestyle ecosystem recorded GWP of RMB7.29 billion in 2021, representing a year-on-year increase of 16%. As new consumption scenarios evolved, ZhongAn actively explore and launch innovative products by leveraging its resources of over 300 strategic ecosystem partners and its cutting-edge technology to solve customers' pain-points in their daily digital life.Riding the wave of e-commerce 2.0, ZhongAn launched a new version of shipping return policy customized for livestreaming e-commerce platforms such as TikTok and Kuai, and the premium contributed by livestreaming e-commerce channels accounted for more than 20% of the overall shipping return policy in 2021.Meanwhile, the innovative products featured by pet insurance and phone screen cracking insurance also saw strong growth in 2021. Relying on the layout of pet O2O ecosystem, the annualized premium of pet insurance has exceeded RMB100 million, representing a year-on-year increase of over 250% and its market share was among the top in mainland China. Powered by its optical character recognition, the Company's phone screen cracking insurance grew by over 65% and remained the top-tier insurers for such product.Among total GWP from digital lifestyle ecosystem, the premium income from innovative business represented by pet insurance, phone screen cracking insurance and Personal Accident Policy accounted for 19% in 2021, representing a year-on-year increase of 29%.Moreover, in 2021 ZhongAn continued to build its brand and proprietary channels. In 2021, the premium from proprietary channels amounted to RMB3.6 billion, representing a year-on-year increase of 66.4%. The Company was pleasant to see such favorable channel mix shift, with proprietary channel contributing over 18% of GWP in 2021. The per capita premium contribution of proprietary channels reached RMB506, representing a year-on-year increase of 20% thanks to robust renewal rate and cross-selling efforts in proprietary channels.Technology segment - facilitating the digital transformation of the global insurance industryAs a leading insurance technology company, ZhongAn continued to explore cutting-edge technology fields such as artificial intelligence, blockchain, cloud computing, big data and life sciences technology, and utilized technology to reshape the entire insurance value chain. Last year, the Company's R&D investment reached RMB1.13 billion, representing a year-on-year increase of 24.5%, accounting for 5.5% of the total GWP. There were 1,836 engineers and technicians, accounting for 48% of all employees.ZhongAn promoted refined operation with Insurtech, enhancing user experience constantly. The cloud-based distributed core system "Wujieshan" helped ZhongAn to issue 7.7 billion insurance policies in 2021, and the number of customers receiving claim payment for the year reached 129 million. Enabled by its technology, the online claim settlement rate exceeds 95%.At the same time, ZhongAn also helped insurers worldwide with their digital transformation by exporting modular Insuretech products. In 2021, the technology export revenue reached RMB520 million , representing a year-on-year increase of 42%, with the proportion of recurring revenue reaching 48%. ZhongAn served 109 customers in the insurance industry last year, a year-on-year increase of 34 new accounts. In terms of overseas development, ZhongAn Technology has further expanded its business territory to Japan, Singapore, Malaysia, Indonesia to Vietnam, Thailand, Philippines and Europe, by working with insurance companies like AIA, Muang Thai Life, and PFI Mega Life.ZA Bank, a pioneering advocate of virtual banking in Hong Kong with a one-stop digital financial service platform also made pleasant progress in 2021. Within two years, the number of customers exceeded 500,000, the deposit balance as of Dec 2021 reached HK$7 billion, and the loan balance quadrupled year-on-year to HK$2.5 billion. In the future, ZhongAn will continue to focus on the needs of users, leverage technological strength to drive innovation, build and improve the ZhongAn brand in the eyes of users, constantly practice insurance inclusion and create long-term value.About ZhongAn Online P&C Insurance Co Ltd (Stock Code:6060.HK)ZhongAn Online P&C Insurance Co., Ltd. is a leading online-only InsureTech company in China. Founded in October 2013, the Company adopts an ecosystem-oriented approach and focuses on customers' lives on the Internet, meeting customers' diversified protection needs and creating value for them through ecosystem partners and its proprietary platform. ZhongAn Online seamlessly integrates technology across its insurance business, and now exports its technology to help other companies accelerate their growth. On 28 September 2017, ZhongAn Online became the first Fintech company listed on the HKEx (Ticker: 6060) and since 2018, the Company started expanding its Fintech and InsureTech solutions to various international markets.For further information, please contact:ZhongAn Online IR TeamEmail: ir@zhongan.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Aurelius Technologies Berhad (ATech) Launches Prospectus for Main Market Listing

ATech is well-positioned for sustainable, accelerated growth as demand for IoT terminal connections is expected to hit 23.7 billion by 2026. KUALA LUMPUR, Nov 29, 2021 – (ACN Newswire) – Aurelius Technologies Berhad (“ATech”), a provider of electronics manufacturing services (EMS) for industrial electronic products enroute to a listing on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”; Stock Code: 5902), is pleased to announce the launch of the Company’s prospectus for the initial public offering (IPO) today. ATech offers a comprehensive range of EMS to multinational corporations across 11 countries covering Asia Pacific, Americas and Europe. These services include engineering support services, prototyping, board assembly, mechanical assembly and test for communications devices, Internet of Things (IoT) devices, electronic devices and semiconductor component modules used by the telecommunications, transportation, power management and IoT industries. With a long track record of 28 years, ATech has built a business based on long-term client partnerships. All top five customers are foreign companies or subsidiaries of US public-listed companies. The IPO involves up to 103.87 million ordinary shares comprising public issue of 77.01 million shares and an offer for sale of up to 26.86 million shares. The institutional offering of up to 80.96 million shares represents 22.60% of the enlarged issued shares. The retail offering of up to 22.91 million shares, representing 6.40% of the enlarged issued shares, will be offered at a retail price of RM1.36 per share. The company is expected to raise RM104.73 million in proceeds from the IPO, of which RM40.0 million would be used to acquire new machinery and equipment, RM29.52 million for repayment of borrowings, RM28.13 million for working capital and RM7.08 million for listing expenses. The shares will be made available for application in the following manner: The institutional offering comprising:1) 44.77 million IPO shares representing 12.50% of the enlarged issued shares to bumiputera investors approved by the Ministry of International Trade and Industry2) Up to 36.19 million IPO shares representing approximately 10.10% of enlarged issued shares to Malaysian institutional and select investors The retail offering comprising:1) 5.0 million issue shares representing 1.40% of enlarged issued shares to directors, eligible employees and persons who have contributed to the Company2) 17.91 million issue shares representing 5.0% of the enlarged issued shares allocated to the Malaysian public via balloting Executive Director and Chief Executive Officer of ATech, Lee Chong Yeow, said, “Our IPO will enable us to speed up the execution of our plan to grow, strengthen and leverage our core competency of providing EMS for industrial electronics products as well as continuing our expansion into the production of IoT modules that we started offering in early 2020.” “We are also expanding our production facilities with the construction of a new factory adjacent to our existing plant in Kulim Hi-Tech Park. The new factory will enable us to add floor space to grow the semiconductor component modules production, to cater for Lithium-Ion battery pack production and our existing EMS operations. We will have a total of 15 SMT lines by the end of 2023 from both the new factory and additions to the current factory. These new SMT lines will increase our annual capacity by 198.7% for the financial year ending (FYE) 31 January 2024 from FYE21 to meet the expected increase in demand from our customers.” For FYE21, communications and IoT products contributed 89.5% to the Company’s revenue, electronic devices contributed 9.4% and semiconductor components contributed less than 1%. The top three countries by revenue contribution for FYE19 to FYE21 were the USA, Malaysia and Singapore, which collectively accounted for 93.6%, 92.7%, and 89.3% of the total revenue. Maybank Investment Bank Berhad, which is part of Maybank Kim Eng Group, is the Principal Adviser, Sole Bookrunner and Sole Underwriter. Ami Moris, Chief Executive Officer, Maybank Kim Eng Group, said, “As a direct IoT proxy, ATech is well-positioned for sustainable, accelerated growth as the demand for IoT terminal connections is expected to hit 23.7 billion by 2026. Our conversations with investors indicate that ATech is one of the most anticipated small cap IPOs in Malaysia this year.” “We are also encouraged to see that ATech is actively reducing its carbon footprint to become a best-in-class green EMS player, and is prioritising local communities through upskilling and employment opportunities. We look forward to journeying with ATech as a trusted business partner.” Pictured (from left):– Left: Datin Normaliza Binti Kairon, ATech’s Chairperson and Independent Non-Executive Director– Right Top: Mr. Lee Chong Yeow, ATech’s Executive Director and Group Chief Executive Officer and Mr. Loh Hock Chiang, ATech’s Executive Director and Group Chief Financial Officer– Right, Second Row: ATech’s Ms. F’ng Meow Chong, Independent Non-Executive Director and ATech’s En. Nor Shahmir Bin Nor Shahid, Independent Non-Executive Director– Right, Bottom Row: ATech’s Mr. Yee Swee Meng, Independent Non-Executive Director and Maybank Kim Eng Group’s Datin Ami Moris, Chief Executive Officer(http://newsechoasia.com/wp-content/uploads/2021/11/06c34c1f-low_atech20211129.jpg)

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Aurelius Technologies Berhad Launches Prospectus for Main Market Listing

KUALA LUMPUR, Nov 29, 2021 - (ACN Newswire via SEAPRWire.com) - Aurelius Technologies Berhad ("ATech" or the "Company"), a provider of electronics manufacturing services ("EMS") for industrial electronic products enroute to a listing on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities"), is pleased to announce the launch of the Company's prospectus for the initial public offering ("IPO") today.ATech offers a comprehensive range of EMS to multinational corporations across 11 countries covering Asia Pacific, Americas and Europe. These services include engineering support services, prototyping, board assembly, mechanical assembly and test for communications devices, Internet of Things ("IoT") devices, electronic devices and semiconductor component modules used by the telecommunications, transportation, power management and IoT industries.With a long track record of 28 years, ATech has built a business based on long-term client partnerships. All top five customers are foreign companies or subsidiaries of US public-listed companies.The IPO involves up to 103.87 million ordinary shares comprising public issue of 77.01 million shares and an offer for sale of up to 26.86 million shares. The institutional offering of up to 80.96 million shares represents 22.60% of the enlarged issued shares. The retail offering of up to 22.91 million shares, representing 6.40% of the enlarged issued shares, will be offered at a retail price of RM1.36 per share.The company is expected to raise RM104.73 million in proceeds from the IPO, of which RM40.0 million would be used to acquire new machinery and equipment, RM29.52 million for repayment of borrowings, RM28.13 million for working capital and RM7.08 million for listing expenses.The shares will be made available for application in the following manner:The institutional offering comprising:1) 44.77 million IPO shares representing 12.50% of the enlarged issued shares to bumiputera investors approved by the Ministry of International Trade and Industry2) Up to 36.19 million IPO shares representing approximately 10.10% of enlarged issued shares to Malaysian institutional and select investorsThe retail offering comprising:1) 5.0 million issue shares representing 1.40% of enlarged issued shares to directors, eligible employees and persons who have contributed to the Company2) 17.91 million issue shares representing 5.0% of the enlarged issued shares allocated to the Malaysian public via ballotingExecutive Director and Chief Executive Officer of ATech, Lee Chong Yeow, said, "Our IPO will enable us to speed up the execution of our plan to grow, strengthen and leverage our core competency of providing EMS for industrial electronics products as well as continuing our expansion into the production of IoT modules that we started offering in early 2020.""We are also expanding our production facilities with the construction of a new factory adjacent to our existing plant in Kulim Hi-Tech Park. The new factory will enable us to add floor space to grow the semiconductor component modules production, to cater for Lithium-Ion battery pack production and our existing EMS operations. We will have a total of 15 SMT lines by the end of 2023 from both the new factory and additions to the current factory. These new SMT lines will increase our annual capacity by 198.7% for the financial year ending (FYE) 31 January 2024 from FYE21 to meet the expected increase in demand from our customers."For FYE21, communications and IoT products contributed 89.5% to the Company's revenue, electronic devices contributed 9.4% and semiconductor components contributed less than 1%. The top three countries by revenue contribution for FYE19 to FYE21 were the USA, Malaysia and Singapore, which collectively accounted for 93.6%, 92.7%, and 89.3% of the total revenue.Maybank Investment Bank Berhad, which is part of Maybank Kim Eng Group, is the Principal Adviser, Sole Bookrunner and Sole Underwriter.Ami Moris, Chief Executive Officer, Maybank Kim Eng Group, said, "As a direct IoT proxy, ATech is well-positioned for sustainable, accelerated growth as the demand for IoT terminal connections is expected to hit 2.37 billion by 2026. Our conversations with investors indicate that ATech is one of the most anticipated small cap IPOs in Malaysia this year.""We are also encouraged to see that ATech is actively reducing its carbon footprint to become a best-in-class green EMS player, and is prioritising local communities through upskilling and employment opportunities. We look forward to journeying with ATech as a trusted business partner."Pictured (from left):- Left: Datin Normaliza Binti Kairon, ATech's Chairperson and Independent Non-Executive Director- Right Top: Mr. Lee Chong Yeow, ATech's Executive Director and Group Chief Executive Officer and Mr. Loh Hock Chiang, ATech's Executive Director and Group Chief Financial Officer- Right, Second Row: ATech's Ms. F'ng Meow Chong, Independent Non-Executive Director and ATech's En. Nor Shahmir Bin Nor Shahid, Independent Non-Executive Director- Right, Bottom Row: ATech's Mr. Yee Swee Meng, Independent Non-Executive Director and Maybank Kim Eng Group's Datin Ami Moris, Chief Executive Officer(https://www.acnnewswire.com/topimg/Low_ATech20211129.jpg) Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Tianda Pharma Interim Results 2021

HONG KONG, Nov 26, 2021 - (ACN Newswire via SEAPRWire.com) - Tianda Pharmaceuticals Limited (Tianda Pharma or the Group, stock code: 0455.HK) is pleased to announce its interim results for the six months ended 30 September 2021 (the "Reporting Period"). During the Reporting Period, all three business segments of the Group recorded significant business growth, with the total revenue reaching HK$236.5 million, representing an increase of 26.2% year on year (YOY). The Group's financial position remains strong, with net assets of HK$777.0 million, and bank deposits, cash and bank balances of HK$202.2 million, as well as unutilised bank loan facilities of HK$77.8 million as at 30 September 2021. Such strong financial position provides the Group with sufficient financial resources to support its steady business development.The Chinese medicine business recorded revenue of HK$58.0 million, representing an increase of 64.2% YOY. In line with the national policies supporting the Traditional Chinese Medicine (TCM) industry, the Group has spent over five years establishing a complete TCM industrial chain layout, covering the trading of Chinese medicinal materials, production of TCM decoction pieces, R&D of TCM, a comprehensive Chinese medicine product portfolio, as well as domestic and overseas procurement and marketing network. The Pharmaceuticals and medical technologies business recorded revenue of HK$174.9 million, representing an increase of 16.6% YOY. The Group's major product, Tuoping Valsartan capsules, a medicine for cardio-cerebrovascular disease, is the No. 1 product of its kind in China in terms of sales volume. The Group is seizing the opportunity of the success of Tuoping in securing first place in China's Third Round of Centralized Drug Procurement with Target Quantity to further increase its sales volume. The Group's new R&D and production base in Jinwan, Zhuhai, scheduled to commence production in January next year, is poised to become a pharmaceutical and health industry base with high standard, quality and efficiency. The Medical and healthcare service business recorded revenue of HK$3.6 million, representing an increase of 79.5% YOY. During the Reporting Period, the Group opened a TDMall with a renowned Chinese medicine expert by using an equity investment cooperation model for the first time. The equity investment cooperation model will become an important means for the rapid expansion of TDMalls. The Group is also accelerating the development of a cloud technology based Chinese medicine platform "TDMall on Cloud" to provide services such as online intelligent consultation, online medical treatment and comprehensive health e-commerce to the public. Together, this online initiative and the physical TDMalls will help to develop "TDMall" into the leading brand of Chinese medical clinic.The Group has continued to increase innovation and R&D efforts, with steady progress made in development of Classic Ancient Prescriptions, cardio-cerebrovascular drugs, pediatric drugs, and diabetes drugs, etc. Meanwhile, BD initiatives have been increased as well to integrate organically with R&D activities to improve the quality and quantity of R&D projects in its pipeline through external introduction, independent and collaborative R&D. This is to further enrich the product lines while identifying cutting-edge technological and product opportunities globally, so as to help grow the Group's business on the whole.China has proposed in the "14th Five-Year Plan and the Long-Range Objectives Through the Year 2035" to promote the inheritance and innovation of TCM, to emphasize on the equal importance and complementary advantages of Chinese and Western medicine, and to vigorously develop the Chinese medicine business, providing favorable policy support for the Group's business development. The Group will continue to implement the "Three Developments" strategy, deepening the layout of all three business segments and actively evaluating merger and acquisition opportunities to accelerate the pace of business growth and scale expansion, so as to strive to become a leading pharmaceutical enterprise that sets its footholds in China while expanding its presence worldwide to make greater contribution to safeguarding the health of mankind.About Tianda Pharmaceuticals LimitedTianda Pharmaceuticals Limited is engaged in the development of Chinese medicine business as foundation, development of innovative drugs and medical technologies, as well as development of quality medical and healthcare services, committed to become a leading pharmaceutical enterprise that sets its footholds in China while expanding its presence worldwide.For enquiriesTianda Pharmaceuticals LimitedInvestor Relations Department Phone: +852 2545 3313 Email: ir@tianda.com Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Far East Horizon Announces 2021 Interim Results

HONG KONG, Aug 31, 2021 - (ACN Newswire via SEAPRWire.com) - Far East Horizon Limited ("Far East Horizon" or "the Group", Stock Code: 03360.HK), a leading financial services and industrial group in China, today announced its interim results for the six months ended 30 June 2021 (the "Review Period").Financial ReviewIn the first half of 2021, against the backdrop of the continuous evolution of the COVID-19 on a global scale, as well as the more complex and severe external environment, the quality and efficiency of the proactive fiscal policy of China improved, the economy recovered in a remarkable fashion. In the face of the complex and difficult external environment, the Group adhered to its original aspiration and followed its development vision of "vigorously building excellent enterprises", performance remained stable and healthy. During the Review Period, the Group realized revenue of RMB16.18 billion, representing an increase of 21.91% year-on-year ("YoY"). Among which, the financial and advisory segment remained stable overall with a slight increase. The industrial operation segment continued to record substantial growth with the quality of assets continued to be further optimized. The profit attributable to holders of ordinary shares of the Company during the Review Period amounted to RMB2.57 billion, representing an increase of 25.16% YoY, basic earnings per share reached RMB0.64, together with the return on average equity (ROE) of 14.45%, demonstrating a steady growth momentum.Financial Business Developed Steadily with Significant Growth in Industrial OperationIn terms of financial business, on the basis of nine industry sectors, the Group continued to focus on deepening its foothold in various regions and industries, enriched the operation means and consolidated and deepened the competitive advantages, thus revenue of RMB11.1billion, representing an increase of 14.98% YoY. On the basis of traditional financial leasing services, the Group continued to expand and enrich new business such as inclusive finance, commercial factoring, PPP investment, overseas financing, asset business and other new business directions, the interest income contribution from these new business directions amounted to RMB873 million, representing a YoY increase of 112.87%.The Group adhered to the prudent strategies of risk control and asset management, the non-performing asset ratio recorded a slight decrease YoY to 1.10%, asset quality remained healthy and stable.In terms of industrial operation, in response to national development strategies such as new urbanization and population aging, the Group's business sectors including Horizon Construction Development and Horizon Healthcare have undertook active planning and formed an industrial group with leading scale and social influence. Income derived from industrial operation amounted to RMB5.12billion, representing an increase of 41.34% YoY. In particular, Horizon Construction Development has become the largest comprehensive equipment operation service provider in the PRC, realized revenue of RMB2.43 billion and net profit of RMB230 million during the period, representing an increase of 75.85% and 55.65% YoY, respectively. Horizon Healthcare continues to focus on regions with weak medical resources, steadily promotes the "100 Counties Plan", and is committed to building a medical service network across the country with regional chains. Currently, the number of hospitals in which Horizon Healthcare had controlling interests was 29 and its number of available beds was more than 12,000. During the Period, Horizon Healthcare realized revenue of RMB1.99 billion and net profit of RMB110 million, representing an increase of 29.20% and 293.09% YoY, respectively.In the first half of 2021, the economy in China continues to recover. However, the global pandemic continues to evolve and the external environment has become more complex and severe. Against this backdrop, the Group will remain true to the original aspiration and upgrade the business and management models, make unremitting efforts to seek high-quality and sustainable development in an environment full of uncertainty and instability in the future, and continuously increase value creation for all parties in society.About Far East Horizon LimitedFar East Horizon Limited is one of China's leading innovative financial companies focusing on the Chinese fundamental industries and leveraging the business model of integrating finance and industry to serve enterprises of greatest vitality with the support of the fast-growing and enormous economy in China. Based on its operational philosophy of "finance + industry", Far East Horizon endeavours to realize its vision of "Integrating global resources and promoting China's industries" by making innovations in products and services to provide our customers with tailor-made integrated operations services. Over the past more than 10 years, the Group has been leading the development of the industry, and has been listed among the Fortune China 500 and Forbes Global 2000.Over the past two decades, the Group has evolved from a single financial service company into an integrated service provider with a global vision centered on China so as to facilitate national economic and sustainable social development. With the creative integration of industrial services and financial capital and with unique advantages in the organization of resources and value added services, we provide integrated finance, investment, trade, advisory and engineering services in healthcare, cultural & tourism, engineering construction, machinery, chemical & medicine, electronic information, public consuming, transportation & logistics, urban public utility as well as other fundamental sectors.The Group, headquartered in Hong Kong, has business operations centers in Shanghai and Tianjin, and has offices in major cities throughout China such as Beijing, Shenyang, Ji'nan, Zhengzhou, Wuhan, Chengdu, Chongqing, Changsha, Shenzhen,Xi'an, Harbin, Xiamen, Kunming, Hefei, Nanning and Urumqi, forming a client service network that covers the national market. The Group has been successfully operating its multiple specialized business platforms in China and abroad in financial services, industrial investment, hospital investment and operations, equipment operation services, exquisite education, trade brokerage, management consulting, engineering services, etc.The Company was officially listed on the Main Board of The Stock Exchange of Hong Kong Limited ("Stock Exchange") on 30 March 2011. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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CDB Leasing Announces 2021 Interim Results

HONG KONG, Aug 30, 2021 - (ACN Newswire via SEAPRWire.com) - China Development Bank Financial Leasing Co., Ltd. ( "CDB Leasing" or "the Company"; stock code: 1606.HK) announces its interim results ended June 30, 2021 (the "Reporting Period").Results Highlight:For the six months ended June 30, 2021:-- Total lease financing to lessees amounted to RMB57.1 billion, representing an increase of 12% YOY; -- Net profit reached RMB1.8 billion, representing an increase of 46.2% YOY;-- Total revenue and other income was RMB10.4 billion, representing an increase of 8.6% YOY;-- Total assets reached RMB311.52 billion, representing an increase of 2.7% as compared with that as of the end of last year;-- Return on average equity was 13.33%, representing an increase of 3.5 percentage points as compared with that for the same period of last year;-- Non-performing asset ratio was 0.78%, representing a decrease of 0.02 percentage point compared with that as at the end of last year;-- Continue to maintain high credit ratings, "A1" by Moody's, "A" by Standard & Poor's and "A+" by Fitch. In the first half of 2021, CDB Leasing maintained strategic determination, strengthened responsibility, adhered to new development concepts, steadily promoted high-quality development, and achieved good results in business investment, risk prevention and control, internal management, etc. During the Reporting Period, the Company's total revenue and other income was RMB10.4 billion, representing an increase of 8.6% YOY; net profit amounted to RMB1.8 billion, representing an increase of 46.2% YOY, primarily due to 1) the growth in total leased assets resulting from the increase in financing to lessees, 2) the substantial year-on-year increase in revenue from ship operating lease business, 3) the decline in the rate of financing cost of US dollars, 4) the year-on-year decrease in impairment losses this year as COVID-19 pandemic was under control in China.During the Reporting Period, CDB Leasing strengthened the customer-centric business development model to improve the quality and efficiency of business development. The Company deepened its research and analysis system, kept abreast of internal and external changes, sorted out and conducted analysis on factors affecting business operations and development opportunities to improve the foresight and effectiveness of business decisions. Based on the changes in business landscape and the characteristics of customer demand, the Company improved the customer management plans, improved active services, and ensured the implementation of project development. In the first half of 2021, the Company's leasing investment remained at the forefront of the industry, and its customer-centric model continued to yield good results.Besides, CDB Leasing sped up the improvement of business development, increased the coverage of key strategic regions, and effectively served strategic emerging industries, green development, inclusive finance and other key fields. In the first half of 2021, the Company's business investment in key strategic regions such as the Yangtze River Economic Belt and Guangdong-Hong Kong-Macao Greater Bay Area increased by 16.7% YOY, accounting for 84.0% of its total investment. Its investment in strategic emerging industries grew by 15.8% YOY. CDB Leasing leveraged its advantages in leasing products to support green development and pollution prevention and help implement "carbon peak and neutrality" initiatives. As a result, its investment in the new energy sector increased by 52.6% YOY. The Company also followed the guidance of national policies to promote inclusive financial services. Its investment in construction machinery and commercial vehicles increased by 40.0% YOY, with more than 34,000 units of new equipment for lease being added. In addition, the Company accelerated the application of fintech, developed self-risk control models, built an intelligent management system, and promoted the transformation of the vehicle business to the passenger car terminal retail business to make new development in passenger car business. In terms of the aviation business, CDB Leasing deeply analyzed the global air cargo market, and took the lead in promoting passenger-to-cargo conversions in the industry, thus reducing the pressure on the depreciation of old wide-body aircraft. Due to obvious economies of scale and strength, the Company has been able to leverage its aircraft leasing platform to work with existing and new airline customers and other industry stakeholders to support the sector's recovery, while strengthening the platform's capabilities and financial position to enable further growth and ensure sufficient liquidity for the future. During the Reporting Period, the Company signed new lease transactions for a total of 31 aircraft with 11 customers, sold 4 aircraft, added 3 new lessees and acquired 14 aircraft on operating lease. As at June 30, 2021, the total assets of the aircraft leasing segment amounted to RMB 81,648.3 million; total revenue and other income from the segment recorded RMB3,656.8 million.As for Infrastructure leasing business, relying on China Development Bank's resources advantages in the infrastructure sector, the Company focused on key national strategic development regions such as the Yangtze River Economic Belt, Guangdong-Hong Kong-Macao Greater Bay Area and Beijing-Tianjin-Hebei region, implemented arrangements for "carbon peak and neutrality", stepped up support in the area of green and low carbon circular economy, facilitated the implementation of the domestic demand expansion strategy, and supported the development of green finance and the real economy, resulting in additional lease financing to lessees of RMB31,742.9 million during the Reporting Period, representing an increase of 9.5% YOY. As at June 30, 2021, the total assets of the infrastructure leasing segment amounted to RMB152,638.5 million, representing an increase of 12.2% compared with that as at the end of last year; total revenue and other income from the segment recorded RMB3,748.2 million, representing an increase of 19.4% YOY.The profit contribution of ship leasing business increased substantially year on year. The Company further boosted the overall increase in new and second-hand bulk carriers to promote "domestic shipbuilding" and support the development of domestic shipbuilding enterprises based on the high-quality development concept. The remarkable profit contribution in the first half of the year proved how forward-looking and scientific the Company was to strategically develop ship operating lease business, and served as an affirmation of its enhanced professional capabilities in ship leasing business. On the one hand, the Company seized opportunities for cooperation with top clients and solidly developed ship finance leasing business; on the other hand, the Company strengthened industry research with a focus on the impact of COVID-19 pandemic on the development trends of the shipping market, and stepped up the efforts to develop ship operating lease business. During the Reporting Period, the number of decisions and contracts signed for the Company's ship operating lease business reached a record high. The Company successfully delivered 36 ships, including 13 newly built ships and 23 second-hand ships. As at June 30, 2021, the total assets of ship leasing segment amounted to RMB37,433.7 million, representing an increase of 9.5% as compared with that as at the end of last year; total revenue and other income from the segment reached RMB1,991.3 million, representing an increase of 122.2% YOY.2021 marks the first year of the 14th Five-Year Plan for CDB Leasing's inclusive finance business. The Company, on the one hand, uphold the "market-oriented" and "professional" development concept, proactively improve the ability to serve the real economy with inclusive finance, and provide efficient and convenient financial leasing services to small, medium and micro customers; on the other hand, accelerate the stable development of the Company's inclusive finance business, build an inclusive finance system with "controllable risks, a considerable scale, strong professionalism, a prominent brand, and excellent assets", and vigorously promote the shift of inclusive finance business from traditional sectors to digital fields, so as to create another growth driver for the Company. During the Reporting Period, CDB Leasing further refined the business process management and constantly optimized and improved the business system, thus laying a solid foundation for the digital transformation of inclusive finance business. As at June 30, 2021, the total assets of the Company's inclusive finance business amounted to RMB29,997.6 million, representing an increase of 19.4% compared with that as at the end of last year; total revenue and other income from the segment reached RMB717.0 million, representing an increase of or 14.9% YOY.Improve overall management of assets and liabilities; enhance the compliance and internal control systemDuring the Reporting Period, CDB Leasing has improved the overall management of assets and liabilities, and established a regular mechanism to control interest rate and exchange rate risks. The Company accelerated the issuance of financial bonds and revived existing assets through multiple channels, as well as formulated the Company's capital replenishment plan and continuously consolidated the foundation for business development. In the meantime, the Company strengthened risk control in key areas, enhanced the comprehensive system, and enhanced risk control capabilities. Specifically, the Company developed a list of customers and projects subject to risk warning and monitored it, accelerated risk mitigation for key projects, and maintained the overall stability of asset quality. Additionally, the Company insist on compliance principles to improve the compliance and internal control system.Keep promoting IT system construction and consolidating information security foundationDuring the Reporting Period, CDB Leasing continued to promote information system construction and data governance to consolidate the Company's information security foundation. On another hand, the Company developed intelligent data platform, core leasing business system, passenger car system and other relevant systems to support business development; as well as implemented regulatory requirements, reinforced data governance, thoroughly searched for deficiencies in data standards, and strengthened information and data security management; and further improved the Company's IT infrastructure and network security system.According to the announcement, looking forward, CDB Leasing will balance the development relationship among scale, quality and efficiency, strengthen market analysis and judgment, track customer needs, seize business development opportunities, actively promote business innovation, and constantly enhance internal operation management. Meanwhile, it will continue to strengthen the risk and compliance management system, consolidate the business operation foundation, and pave the way for the Company's development during the 14th Five-Year Plan period.About China Development Bank Financial Leasing Co., LtdChina Development Bank Financial Leasing Co., Ltd. (stock code: 1606.HK; "CDB Leasing"), a national non-banking financial institution regulated by CBIRC, is the first listed financial leasing company in Mainland China and the sole leasing business platform and listing platform of China Development Bank. Its leasing assets and business partners reach throughout over 40 countries and regions around the globe. The Company enjoys relatively high international credit ratings, namely "A1" by Moody's, "A" by Standard & Poor's and "A+" by Fitch. Founded in 1984, CDB Leasing is a pioneer and a leader in the leasing industry in the PRC, and is in the first batch of leasing companies established in the PRC. Adhering to the mission of "leading China's leasing industry, serving the real economy", CDB Leasing is dedicated to providing comprehensive leasing services to high-quality customers in fields including aviation, infrastructure, shipping, inclusive finance, new energy and high-end equipment manufacturing. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Universal Medical Announces 2021 Interim Results

HONG KONG, Aug 27, 2021 - (ACN Newswire via SEAPRWire.com) - The board (the "Board") of directors (the "Directors") of Genertec Universal Medical Group Company Limited (the "Company" or "Universal Medical"; Stock code: 2666.HK) is pleased to announce the unaudited interim results of the Company and its subsidiaries (together, the "Group") for the six months ended 30 June 2021 (the "Reporting Period"). In the first half of 2021, facing the complex and everchanging economic circumstances at home and abroad, the Group continued to consolidate the foundation of finance business, steadily promoted the medical business development, and achieved steady progress in operating performance. 2021 INTERIM RESULTS HIGHLIGHTS-- For the six months ended 30 June 2021, the revenue amounted to approximately RMB5,007.5 million, representing an increase of 24.4% as compared with that of approximately RMB4,024.2 million for the corresponding period of 2020.-- For the six months ended 30 June 2021, the profit for the period amounted to approximately RMB1,125.5 million, representing an increase of 30.7% as compared with that of approximately RMB861.0 million for the corresponding period of 2020. -- For the six months ended 30 June 2021, the profit for the period attributable to owners of the parent amounted to approximately RMB1,050.0 million, representing an increase of 32.3% as compared with that of approximately RMB793.4 million for the corresponding period of 2020. -- As at 30 June 2021, the total assets amounted to approximately RMB69,894.9 million, representing an increase of 13.6% as compared with that of approximately RMB61,511.0 million as at 31 December 2020.-- As at 30 June 2021, the equity attributable to owners of the parent amounted to approximately RMB12,363.4 million, representing an increase of 14.8% as compared with that of approximately RMB10,770.5 million as at 31 December 2020. -- For the six months ended 30 June 2021, the return on equity was 18.15%, and the return on total assets was 3.43%.In the Reporting Period, the Group recorded revenue of RMB5,007.5 million, representing an increase of 24.4% as compared to the corresponding period of the previous year, as a result of more medical institutions being consolidated into the Group's financial statements and financial business growing steadily; recorded profit for the period of RMB1,125.5 million, representing an increase of 30.7% as compared to the corresponding period of the previous year; recorded profit for the period attributable to the owners of the parent of RMB1,050.0 million, representing an increase of 32.3% as compared to the corresponding period of the previous year; and recorded total assets of RMB69,894.9 million as of 30 June 2021, representing an increase of 13.6% as compared to the end of 2020, with a debt ratio of 75.18% and asset quality generally safe and controllable.Hospital Group Expanded in Scale, with Operating Benefit Improved SteadilyHospital group is the essential resources of building a healthcare conglomerate. In the first half of 2021, the Group continued to actively participate in integration and takeover of medical institutions of SOEs, and advanced the completion and consolidation of contracted projects in an orderly manner. As of 30 June 2021, the Group had entered into contracts in relation to the takeover of 56 medical institutions (including 5 Grade III Class A hospitals and 29 Grade II hospitals) with actual capacity of over 15,000 beds in total, and had consolidated 41 medical institutions (including 3 Grade III Class A hospitals and 19 Grade II hospitals), with actual capacity of 10,082 beds in total.In terms of consolidated revenue, in the Reporting Period, the hospital group recorded revenue of RMB2,118.4 million during the consolidation period, representing an increase of 37.2% as compared to the corresponding period of the previous year, mainly due to the consolidation of additional medical institutions. Revenue from integrated healthcare services reached RMB1,985.5 million, representing an increase of 35.2% as compared to the corresponding period of 2020; revenue from supply chain business reached RMB390.5 million, representing an increase of 76.1% as compared to the corresponding period of 2020.In terms of operations, in the first half of 2021, the total number of medical treatments in the consolidated medical institutions of the Group was 2,937,210, representing an increase of approximately 38.5% as compared with the corresponding period of the previous year, and an increase of approximately 13.3% as compared with the corresponding period of 2019. The revenue of hospital operation for the first half of 2021 reached RMB2,004.0 million in total, representing an increase of approximately 19.1% as compared with the corresponding period of last year, and an increase of approximately 11.7% as compared with the corresponding period of 2019. The income per bed of the consolidated Grade III hospitals reached approximately RMB600,000 on an annualised basis, and the overall income per bed of the Group's medical institutions increased to nearly RMB400,000 on an annualised basis.Upholding the philosophy of providing quality medical care, the Group promotes post-investment management of medical institutions in an orderly manner, establishes three core competence systems of "discipline", "operation" and "service" for its hospital management team, and builds the hospital group with the advantages of safe, effective, accessible and humanistic services. Moreover, relying on the development foundation of the hospital group, the Group expands business layout in various fields including equipment sales, equipment maintenance, medical inspection, health care and insurance, and actively expands external customers while efficiently serving the Group's member hospitals to gradually lay a foundation for development in scale.Enhance the Foundation of Finance Sector, and Ensure Stable and Sound Development of BusinessThe Group's financial business mainly focuses on financial leasing business. The Group strives to build an innovative, high-quality and efficient finance service model, and to provide the Group with a base to achieve high-quality development. In the first half of this year, the Group continued to work meticulously in key niche market, accurately responded to customers' demands, and improved business development efficiency. Meanwhile, the Group continued to improve risk management and control to ensure the safe and healthy development of the Group's business; kept up with changes in the financial situation, and reasonably controlled financing costs to meet capital demand of the Group's business.In the Reporting Period, the Group recorded interest income from finance services of RMB2,262.0 million, representing an increase of 10.4% as compared with the corresponding period of the previous year; and gross profit of interest margin of RMB1,399.3 million, representing an increase of 28.3% as compared with the corresponding period of the previous year. Various business indicators maintained a sound level, with an average yield of interest-earning assets of 7.79%, an average cost rate of interest-bearing liabilities of 3.84%, a net interest spread of 3.95%, and a net interest margin of 4.49%.The Group continued to optimize the dynamic management of pre-rental, rental, and post-rental process, and enhanced accountability to make every effort to ensure the quality of assets. As of 30 June 2021, the net interest-earning assets of the Group reached RMB59,942.3 million, representing an increase of 12.0% from the beginning of the year. The non-performing asset ratio was 0.98%; the overdue ratio (30 days) was 0.85%; and the provision coverage ratio was 216.28%. The overall asset quality was safe and controllable, and continued to maintain its leading position in the industry.Prospect for the Future 2021 is a crucial year for the Group to carry out its strategies and enhance its core capabilities. In the second half of the year, the Group will continue deploying business development in accordance to China's 14th Five-Year Plan and calmly coping with various risks and challenges to strictly control risks in the financial business and develop steadily. The Group will make the medical business better and stronger and give full play to its characteristics. The layout of the Group's health business will be improved to lay a solid foundation for future development. Committed to the mission of protecting life and health with quality medical care, the Group will strive for breakthroughs in the quality development of the Group as a whole, and make relentless efforts to build a trustworthy healthcare conglomerate, and create greater value and return for all shareholders.About Genertec Universal Medical Group Company LimitedGenertec Universal Medical Group Co., Ltd ("Universal Medical") is a publicly listed state-owned enterprise committed to China's healthcare industry. China General Technology (Group) Holding Co Ltd., one of the backbone SOEs directly supervised by the central government is the controlling shareholder of the Company. Universal Medical focuses on the fast-developing healthcare industry in China, with medical services as the core and financial business as the foundation. The Company harvests modern management concepts, professionals, quality medical resources with solid financial strength, and an inclusive corporate culture. Altogether strives to build a reliable healthcare conglomerate and develop a healthcare ecosystem that all can mutually share and benefit. The Company owns 56 medical institutions, distributed in 14 provinces and municipalities such as Shaanxi, Shanxi, Sichuan, Liaoning, Anhui, Hebei, Beijing, and Shanghai, including 5 Grade III Class A hospitals and 29 Grade II hospitals, with a total of more than 15,000 beds. In the future, Universal Medical will continue to grasp opportunities posed by China's healthcare sector, actively respond to the "Health China 2030" program and make contributions to China's public health industry.This press release is issued by ICA Investor Relations (Asia) Limited on behalf of Genertec Universal Medical Group Company Limited.For further information, please contact: ICA Investor Relations (Asia) Limited E-mail: unimedical@icaasia.com Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Redsun Services 1H2021 Profit Attributable to Equity Shareholders Surges 60.4% to RMB59.8 Million

HONG KONG, Aug 19, 2021 - (ACN Newswire via SEAPRWire.com) - Redsun Services Group Limited ("Redsun Services" or the "Group"), a fast growing comprehensive community services provider focusing on the Yangtze River Delta, has announced its unaudited interim results for the six months ended 30 June 2021 ("1H2021").1H2021 Highlights:-- The Group's total revenue was RMB529.1 million, representing an increase of 63.7%.1) Revenue from property management services was RMB350.4 million, accounting for 66.3% of total revenue, representing an increase of 55.2%.2) Revenue from value-added services to non-property owners was RMB84.8 million, accounting for 16.0% of total revenue, representing an increase of 22.9%.3) Revenue from community value-added services was RMB93.8 million, accounting for 17.7% of total revenue, representing a significant increase of 230.0%.-- Profit for the reporting period was RMB64.0 million, representing an increase of 71.2% as compared with adjusted profit of RMB37.4 million for the corresponding period of 2020. Profit for the reporting period attributable to equity shareholders of the Company was RMB59.8 million, representing an increase of 60.4% as compared with adjusted profit attributable to equity shareholders of RMB37.3 million for the corresponding period of 2020.-- As at 30 June 2021, the Group had 327 contracted projects and contracted GFA of approximately 49.6 million sq.m., representing an increase of approximately 60.0%. These projects included 228 projects under management and GFA under management of approximately 34.4 million sq.m., representing an increase of approximately 83.5%. The Group's revenue was RMB529.1 million, representing an increase of 63.7% as compared with RMB323.2 million for the corresponding period of 2020. During the period, the Group further optimised the business structure and active promotion in the development of community value-added services which have higher gross profit margins, and the Group's gross profit margin increases of 2.6 percentage points to 28.9%. Profit for the period was RMB64.0 million, representing an increase of 71.2% as compared with the adjusted profit of RMB37.4 million for the corresponding period of 2020. Profit for the reporting period attributable to equity shareholders of the Company was RMB59.8 million, representing an increase of 60.4% as compared with RMB37.3 million for the corresponding period of 2020. The Board does not recommend the payment of any interim dividend.The Group maintained a solid financial position during the reporting period. As at 30 June 2021, the current assets amounted to RMB900.0 million, and cash and cash equivalents amounted to RMB579.7 million, thus maintaining a stable net cash condition.The business of the Group covers a variety of property types, including both residential and non-residential properties such as commercial buildings, schools and public buildings, in addition to other specialised high-quality consulting services, resulting in collaborated balanced development of residential and commercial projects. As at 30 June 2021, the Group had provided property management services and value-added services to 42 cities in China, with 327 contracted projects and a contracted gross floor area of approximately 49.6 million sq.m., representing an increase of approximately 60.0%. Such projects included 228 projects under management with a GFA of approximately 34.4 million sq.m., representing an increase of approximately 83.5%.Among the GFA under management in the first half of 2021, the proportion of third-party property developers substantially increased from 37.3% in the same period last year to 59.5%, which further demonstrates the Group's external expansion capabilities. In addition, the Group's portfolio of managed properties has become more diversified. Apart from residential and commercial, there are also public construction and other properties such as hospitals, schools, industrial parks. The total GFA under management from third-party property developers has increased five times year-on-year to 1.85 million sq. m.The Group remained steadfast in maintaining development driven by both organic growth and external expansion. Not only did it rely on its own service quality and brand recognition to expand market and promote development in cities, it also entered into equity cooperation with strategic partners who could provide complementary advantages in regional markets to develop rapidly across different regions. In the first half of 2021, the Group completed the acquisition of Wuhan Huidehang Elite Property Services Co., Ltd., Gaoli Property Services Co., Ltd. and Jiangsu Gaoli Meijia Property Co., Ltd. It also signed a strategic cooperation agreement with the office of Xigang sub-district, Qixia District, Nanjing, with a view to deepening the development in urban services and facilitating cooperation in aspects including community comprehensive services, municipal management services and specialised facility services in corresponding administrative regions. The Group also entered into a strategic cooperation agreement with Anhui Shui'an Construction to establish comprehensive in-depth cooperation in services at property sales venues, early-stage involvement services and other services, thereby laying a solid foundation for improving quality in scale.Further enhancement in service capability to build up core competitivenessIn the future, the Group is dedicated to create good living with its continuous effort in improving its service capability and building core competitiveness. As people are the most essential element in productivity, the Group will establish a service capability nurturing center to attract and nurture talent who measure up to the enterprise's values, so that talent can become the primary resource in development of the Group. Service capability enables rapid development of an enterprise and is the embodiment of industry innovation, new business and new products. Based on the demands of different sectors and customers, the Group will continue to upgrade and improve a full range of lifecycle products and the design of new service products. Redsun Mode 2.0 is being implemented to create standardisation of services throughout all scenarios, leveraging technology applications to refine Hong Tu System, the Group's intelligent management system, so as to achieve more effective application of digital management and services. Meanwhile, the Group is also conducting service innovation for improving its capability to serve customers creatively. Through systematic development of benchmark projects and protection, the ability for standardised services to be delivered is increased.Focusing on penetrating the Greater Jiangsu Region and mapping its non-residential business portfolio, the Group will continue to further enhance its regional competitiveness through high-quality acquisitions and integration, urban services, cooperation with independent third parties and full entrustment (market-oriented bidding extension) projects. Good performance in value-added services for property owners is becoming a new track for property management companies in the next stage of competition. The Group will further increase the income- and profit-generating capabilities per capita in the segment of value-added services for property owners, so as to unleash the value of value-added services for property owners.Further strengthening our innovative power to spark innovative momentumThe Group will make full use of the advantages of the "residential + commercial" dual-driven model, and will focus on the customers' demand for living services to actively expand the business of value-added services for property owners. The Group will upgrade the Community Commercial 3.0 platform and keep launching subproduct packages such as the businesses of property decoration, rental and sale, community e-commerce, etc. Based on the assessment of the Red Life APP scenarios, the Group will also implement upgrades for existing service models to enable mutual growth in property and urban development.The Group will continue to adhere to the original vision of "making lives warmer" and the customer-oriented principle, treat customers with sincerity and provide them with excellent services, and focus on its service capability, strong operations and power of innovation to more deeply explore and earnestly implement best practices, aiming at achieving rapid growth with quality, and becoming an enduring good life operator.About Redsun Services Group LimitedEstablished in Nanjing in 2003, Redsun Services Group Limited is a fast-growing comprehensive community service provider focusing on the Yangtze River Delta. With a vision of "making lives warmer," the Group has provided and endeavors to continue to "provide customers with high-quality services with sincerity" to better serve its customers. The Group has established the regional leading position in the property management market of Jiangsu province and is well-recognised nationwide. The Group was recognised as one of the Top 100 Property Management Companies by CIA for four consecutive years since 2017 and ranked 19th among the 2021 Top 100 Property Management Companies in terms of overall strength. In December 2020, the Group was included by FTSE Russell in the FTSE Global Micro-Cap Index. In 2021, the Group was selected as a constituent of the Hang Seng Property Service and Management Index. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Joy Spreader’s First Quarterly Results: Video E-commerce Business Soars 143.58%

HONG KONG, May 10, 2021 - (ACN Newswire via SEAPRWire.com) - On May 10, 2021, Joy Spreader (6988.HK), a MarTech company listed in Hong Kong, released the business update of the first quarter of 2021. According to the announcement, in the first quarter, Joy Spreader achieved revenue of HK$ 248 million, representing an increase of 33.26% over the same period last year, gross profit of HK$77.4 million, representing an increase of 64.16% over the same period last year, and gross profit margin of 31.16%, representing an increase of 5.87 percentages points as compared with the same period last year.In terms of specific business, the revenue of Joy Spreader's interactive entertainment and other digital products marketing business in the first quarter was HK$220 million, representing an increase of 26.31% over the same period last year, while the revenue from e-commerce products marketing business was HK$28.45 million, representing an increase of 143.58% over the same period last year.With the emerging short video e-commerce, video e-commerce business is becoming the largest increment of results of Joy Spreader. In the first quarter, the gross profit of the Joy Spreader's interactive entertainment and other digital product marketing business reached HK$54.65 million, representing an increase of 44.96% over the same period last year, while the gross profit of e-commerce products marketing business reached HK$22.76 million, representing an increase of 143.68% over the same period last year, accounting for an increasing proportion of the overall gross profit.At the same time, marketing SaaS service, another core business of Joy Spreader, is growing rapidly. Currently, Joy Spreader uses its own marketing SaaS platform to access content publishers in order to help their traffic to realize commercial value.The announcement showed that as of the end of the first quarter, Joy Spreader's marketing SaaS service customers comprised a total of 55,616 WeChat official accounts, representing an increase of 36.01% compared to the end of 2020. A total of 29,828 Douyin accounts in terms of short video, representing an increase of 37.01% compared to the end of 2020. Also, the Company had access to 11,567 clients of WeChat video channels. On the whole, Joy Spreader's mobile new media realizable access points reached 638,950, representing an increase of 35.96% compared to the end of 2020, further consolidating the basis of business growth. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Universal Medical Announced its 2020 Annual Results

HONG KONG, Mar 31, 2021 - (ACN Newswire via SEAPRWire.com) - The board (the "Board") of directors (the "Directors") of Genertec Universal Medical Group Company Limited (the "Company" or "Universal Medical") is pleased to announce the annual results of the Company and its subsidiaries (together, the "Group") for the year ended 31 December 2020.2020 ANNUAL RESULTS HIGHLIGHTS-- The revenue amounted to approximately RMB8,521.2 million, representing an increase of 25.0% as compared with that of approximately RMB6,815.6 million for 2019.-- The profit before tax amounted to approximately RMB2,365.0 million, representing an increase of 6.9% as compared with that of approximately RMB2,211.9 million for 2019. -- The profit for the year attributable to owners shareholders of the parent amounted to approximately RMB1,647.5 million, representing an increase of 10.7% as compared with that of approximately RMB1,488.7 million for 2019. -- The total assets amounted to approximately RMB61,511.0 million, representing an increase of 6.3% as compared with that of approximately RMB57,852.5 million as at 31 December 2019.-- The equity attributable to owners of the parent amounted to approximately RMB10,770.5 million, representing an increase of 13.5% as compared with that of approximately RMB9,489.3 million as at 31 December 2019. -- The return on equity was 16.26% and the return on total assets was 3.04%.In 2020, while leading its medical institutions in various regions to actively and effectively devote to epidemic prevention and control, Universal Medical continued to firmly promote its development in the medical and healthcare sector, achieving growth in the annual operating results against headwinds. In 2020, the Company recorded a revenue of RMB8,521.2 million, representing an increase of 25.0% as compared to the previous year. Profit for the year was RMB1,813.9 million, representing an increase of 11.0% as compared to the previous year. Profit for the year attributable to owners of the parent was RMB1,647.5 million, representing an increase of 10.7% as compared to the previous year.Hospital group continued to expand, with increased proportion of medical revenueHospital group is the essential resources of building a healthcare conglomerate. In 2020, Universal Medical continued to actively participate in the integration and takeover of medical institutions of SOEs, and build up a tightly-knit medical networks surrounding key regions and cities. As of 31 December 2020, the Company had entered into contracts in relation to takeover of 54 medical institutions (including 5 Grade III Class A hospitals and 27 Grade II hospitals) with actual capacity of over 15,000 beds in total. As of 31 December 2020, the Company had consolidated 38 medical institutions (including 3 Grade III Class A hospitals and 16 Grade II hospitals), with actual capacity of 9,699 beds.In 2020, Universal Medical's income from hospital group business was RMB3,623.0 million, representing an increase of 77.0% over the previous year (mainly due to the revenue brought by newly consolidated medical institutions in 2020), which accounted for more than 42% of the total revenue of the Company. In the future, with the further business expansion and the improvement of core capabilities of the hospital group, it is expected that the proportion of the income from hospital group business would continue to increase.Discipline construction was strengthened and technical strength was enhancedIn 2020, the Company adopted an overall approach of promoting core disciplines, characteristic disciplines and consumer disciplines by categories and with multiple measures. In terms of core disciplines, the Group clarifies that the development of a core discipline cluster should be prioritized including cardiovascular, orthopedics, obstetrics & gynecology, and neurology and neurosurgery, as a way to strive for building a technological highland with core clinical technology and the ability to cure intractable diseases. At the same time, in order to fully enhance development incentive of the core discipline centers within the Group, a complete internal training and cultivation system has been established. In terms of specialties, the Group identified the development of four specialties, namely digestive medicine, nephropathy, oncology, and rehabilitation medicine, and comprehensively establish a characteristic specialty operating system. In this way, the Group further integrated the advantageous resources of the hospital group's specialties, and laid a solid foundation for the promotion of the vertical management of the Group. In terms of consumptive healthcare service, pilot construction was completed in the stomatological hospital under Ansteel General Hospital, and a management mode for operating specialties that could be replicated and promoted has also been established. Meanwhile, a series of initial work such as the standardization of the physical examination center was completed to further cultivate new growth points of the hospital group.Digital construction was enhanced to promote informatization upgradeIn the past year, the Company comprehensively implemented digital strategies. On the one hand, we consolidated the foundation for the information construction of the Group and hospitals, and fully launched the layout of data middle platform. On the other hand, we further enriched the connotation of the Internetbased health platform to fully support the digital development of the industry sector. At present, the upgrading and transformation of hospitals' core systems have been fully launched, and a data middle platform with independent intellectual property rights and advanced architecture has also been built. Five member medical institutions were officially approved to carry out Internet-based hospital business. Internet-based health platform has accumulated 17 internal hospitals and one external hospital, and played an important role in the anti-epidemic process. Among them, Hainan Genertec Universal Internet Hospital has become the Group's unified Internet-based medical entrance and the core carrier of medical industry resource integration.Advantages of group management were leveraged to improve hospital operation efficiencyIn 2020, relying on the scale of the existing hospital group, the Company made efforts to improve the overall efficiency of the hospital group through standardized and efficient group management in various aspects such as operation and management, and centralized procurement and supply. For example, in terms of medical quality management, we completed the establishment of standardized quality management systems and the revision of medical core systems to keep in line with quality management systems of advanced hospitals at home and abroad, improved the medical quality monitoring system and early warning mechanism to advance the medical quality management, and established an inspection system without prior notice to strengthen post-event supervision. Such efforts provided a practical way and approaches to manage the hospital group's quality in a standardized way. In terms of medical insurance management, in accordance with the medical insurance level, a professional technical model for DRG/DIP management was developed to achieve the goal of fully profiting from medical insurance settlement or pre-settlement in the regions with DRG/DIP payment reform. In terms of supply chain management, we further integrated the drug and consumables supply chain business of medical institutions in an orderly way, gave full play to the advantages of centralized procurement to benefit from supply chain management. In terms of equipment procurement and hospital construction, through centralized procurement and other methods, procurement costs were significantly lower than the market level. In the future, as various lines of group operations further progress and measures have been contiguously implemented to enhance quality and efficiency, the overall benefits of the hospital group will be further improved.The expansion of layout in industrial chain was started in an orderly manner, and the business development produced initial resultsFocusing on the hospital group, the Company continued to advance model exploration, project piloting and layout expansion in the health industry chain. For example, in terms of Internet-based health care, Internet-based health platform will be deeply integrated with the hospital information system, and provide comprehensive data support for doctors' online diagnosis and treatment. It will also realize personalized health services and in-depth data application to help commercialize the platform. In terms of equipment maintenance, the Company has established a highly skilled and efficient team for medical equipment maintenance business, and promotes an advanced business model of "managing medical equipment for a full life cycle" as a way to provide hospitals with services in terms of standardized maintenance and comprehensive equipment operation and management, improving the operating efficiency of the hospital equipment in an all-round way. In terms of medical inspection, the Company tailored the development plan for the inspection center of partner hospitals and built a specialized disease inspection platform based on the characteristics of different regions and hospitals. By increasing high-end inspection items and upgrading technologies, the Group helps the inspection disciplines of partner hospitals gradually reach the first-class level in the region. In addition, fully assessing the existing advantages and through the introduction of a professional team, the Group conducted pilot exploration and model evaluation in areas such as health and wellness business and insurance business, so as to lay a good foundation for future business incubation.Financial business has achieved stable development and provided strong support to the GroupUniversal Medical's financial business mainly focuses on financial leasing business, the income from which is a stable source of profits for the Company. In the first half of 2020, although the development progress of the Company's financial business and the progress of hospital customers' payment collection were delayed due to epidemic control policies in various regions, since the third quarter of the year, the business was fully restored as the business departments enhanced their development efforts to work meticulously in the region, and the Group further enhanced the overall organization and management efficiency of the financial sector. In 2020, finance and advisory business recorded a revenue of RMB4,899.7 million, representing a year-on-year increase of 2.7%; and gross profit of RMB3,059.4 million, representing a year-on-year increase of 7.6%. Among them, interest income from the financial leasing business amounted to RMB4,033.1 million, representing a year-on-year increase of 5.9%; the gross profit of interest margin was RMB2,192.9 million, representing a year-on-year increase of 16.0%; the net interest spread was 3.54%, and the net interest margin was 4.09%, still a high ranking among its domestic competitors. As of 31 December 2020, the net value of interest-earning assets of the Company reached RMB53,524.2 million, representing an increase of 9.5% from the beginning of the year; the non-performing asset ratio was 1.00%, the overdue ratio (30 days) was 0.94%, and the provision coverage ratio increased to 205.52%. The overall asset quality of the Group was safe and controllable and continued to maintain its leading position in the industry.Outlook for 20212021 will be a crucial year for Universal Medical to carry out its strategies and enhance core capabilities. The Company will calmly cope with various risks and challenges, strictly control risks in the financial business, and develop steadily. We will make the medical business better and stronger and give full play to its characteristics. The layout of the health business will be improved to lay a solid foundation for future development. Committed to the mission of protecting life and health with quality medical care, we will strive for breakthroughs in the quality development of the Group as a whole, and make relentless efforts to build a trustworthy healthcare conglomerate, and create greater value and return for all shareholders.About Genertec Universal Medical Group Company LimitedGenertec Universal Medical Group Company Limited ("Universal Medical") is a listed subsidiary (Stock code: HK.02666) of China General Technology (Group) Holding Co., Ltd ("Genertec"), one of the backbone SOEs directly administrated by the central government, and a central enterprise holding group with medical and healthcare sector as its main business. The company focuses on China's rapidly evolving healthcare industry, and is centered on medical services and supported by financial services. With reliance on modern management concepts, professional teams, high-quality medical resources, solid financial strength and inclusive corporate culture, Universal Medical contributes to construction of "Healthy China", and gradually build a shared and win-win health industry ecosystem.This press release is issued by Institutional Capital Advisory (Asia) Limited on behalf of Genertec Universal Medical Group Company Limited.For further information, please contact: Institutional Capital Advisory (Asia) Limited E-mail: unimedical@icaasia.com Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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CDB Leasing Announces 2020 Annual Results

HONG KONG, Mar 31, 2021 - (ACN Newswire via SEAPRWire.com) - China Development Bank Financial Leasing Co., Ltd. (stock code: 1606.HK; "CDB Leasing" or "the Company", together with its subsidiaries as "the Group") announces its audited consolidated results for the year ended December 31, 2020 (the "Reporting Period").Results HighlightFor the year ended December 31, 2020-- Total assets reached RMB303.3 billion, representing an increase of 16.08% YOY;-- Operating income was RMB19.329 billion, representing an increase of 5.37% YOY;-- Net profit amounted to RMB3.268 billion, representing an increase of 11.24% YOY;-- Total new lease financing to lessees amounted to RMB104.4 billion, representing an increase of 11.96% YOY;-- Return on average equity was 12.50%, representing an increase of 0.72 percentage point as compared with that as of the end of last year;-- Non-performing asset ratio was 0.80%, representing a decrease of 0.09 percentage point as compared with that as of the end of last year.During the Reporting Period, the Company's total assets exceeded RMB300 billion for the first time, and amounted to RMB303.3 billion, representing an increase of 16.08% YOY. Operating income was RMB19.329 billion, representing an increase of 5.37% YOY. Net profit amounted to RMB3.268 billion, representing an increase of 11.24% YOY. Return on average equity was 12.50%, representing an increase of 0.72 percentage point as compared with that as of the end of last year. Total new lease financing to lessees amounted to RMB104.4 billion, representing an increase of 11.96% YOY. Non-performing asset ratio was 0.80%, representing a decrease of 0.09 percentage point as compared with that as of the end of last year. Withstood the impact of the COVID-19 pandemic, the Company did a solid job in pandemic prevention and control, and paid close attention to operation and management. Its annual operating performance bucked up and reached a new high, while continuously achieving steady and high-quality development.During the Reporting Period, CDB Leasing actively served to build a new development pattern, actively supported the real economy, made an effort to build a "customer-centered" business development model, continued to focus on its strengths in aviation, shipping, new energy, environmental protection and infrastructure, as well as increased the new investment, which lead to a new success in business results. The new business investment in the whole year amounted to RMB104.4 billion, and took the lead in the financial leasing industry in realizing the annual new investment exceeding RMB100 billion, representing an increase of 11.96% as compared with that of 2019. In the meantime, the Company continued to strengthen the platform's capabilities and financial position, and maintained the high-level credit ratings by S&P (A), Fitch (A+) and Moody's (A1).In terms of the aviation business, although the competitive environment is still fierce, benefited from its scale in the industry and the strength of the wider CDB Group, the Company also acted quickly in realigning its orderbook to the change in the industry outlook in close co-operation with manufacturers. During the Reporting Period, the aircraft leasing business systematically promoted the five-year planning, steadily launched the investment and continued subletting of expired aircraft, successfully sold 18 aircrafts, and further optimized the fleet structure. In 2020, the Company signed new lease transactions for a total of 77 aircrafts with 20 customers.The Company started the construction of ship leasing business system in right time, strengthened the tracking research on the development trend of shipping market, established the quality evaluation system of operating lease assets and the ship value evaluation model, and examined the pre-credit approval mechanism of operating lease business. The above measures have greatly improved the management and professional ability of the Company's ship leasing business segment, further standardized the operation of ship leasing business, especially ship operating leasing business. The Company delivered 32 ships throughout the year, further increasing the proportion of mainstream ship types. As for Infrastructure leasing business, the Company actively supported key areas such as Yangtze River Economic Belt, Guangdong-Hong Kong-Macao Greater Bay Area, Beijing-Tianjin-Hebei, etc., and served the coordinated development of regions. In addition, the Company strengthened the development of new energy projects, continuously improved its specialization in the field of new energy power generation, and fulfilled the development requirements of green finance actively.The Company adhered to its functional orientation, actively approached the market, strengthened the management of existing assets, optimized the allocation of incremental resources, improved various management processes and systems, and effectively promoted the sustainable and healthy development of inclusive finance business. At the same time, the Company vigorously promoted the digital transformation of inclusive finance business, further strengthened the refined management of the whole business process, and laid a solid foundation for realizing the digital management of inclusive finance business. The annual investment was RMB17.9 billion, representing an increase of 14% YOY, leasing more than 41,000 sets of equipment and serving nearly 13,000 small, medium and micro enterprises.Fulfills social responsibility and corporate responsibilityDuring the Reporting Period, the Company has provided support for more than 50 key projects greatly affected by the pandemic and about 4,000 customers in inclusive financing, such as rent extension and change of rent repayment plan, so as to alleviate the financial pressure of enterprises. The Company has increased cooperation with domestic shipping companies, fully supported the shipping companies to resume work and resume production, and received 19 new ships worth US$620 million throughout the year; Signed eight new shipbuilding contracts with a project value of US$400 million, fulfilling the social responsibility of state-owned financial enterprises.Expands asset trading channels and strengthens internal management and risk controlCDB Leasing actively tracked the trend changes, strengthened the financing rhythm and time limit scheduling, and the comprehensive cost of RMB and USD dropped significantly year-over-year, thus continuing to lead the industry. The Company successfully issued tier-2 capital bonds of US$700 million, creating a precedent for leasing companies. Meanwhile, the Company put in place robust operating requirements in terms of internal management, strengthened coordinated and centralized resources, and explored the construction of a digital leasing company. The Company also continued to improve the overall risk management system, strengthened risk investigation and control of key industries, and intensified efforts to resolve risks and non-performing projects.Looking forward, CDB Leasing stated: "in 2021, the Company will pay close attention to relevant policy trends and development opportunities after the pandemic, and combine its first-mover advantages in aviation, shipping, inclusive finance, infrastructure and other professional segments to achieve its business operation objectives while serving the country's major strategic objectives. The Company will further improve its research and analysis system, enhance its situational awareness of market competition and innovate its business development model, continuously improve its professional development capability, insist on the 'customer-centered' concept, optimize the process system, and further improve service efficiency; strengthen the information platform construction and digital empowerment leasing business, comprehensively improve the Company's business response efficiency, fully tap the value of big data, and accelerate the digital development, so as to achieve a good start in the 14th Five-Year Plan."About China Development Bank Financial Leasing Co., LtdChina Development Bank Financial Leasing Co., Ltd. (stock code: 1606.HK; "CDB Leasing"), a national non-banking financial institution regulated by CBIRC, is the first listed financial leasing company in mainland China and the sole leasing business platform and listing platform of China Development Bank. Its leasing assets and business partners reach throughout over 40 countries and regions around the globe. The Company enjoys relatively high international credit ratings, namely "A1" by Moody's, "A" by Standard & Poor's and "A+" by Fitch. Founded in 1984, CDB Leasing is a pioneer and a leader in the leasing industry in the PRC, and is in the first batch of leasing companies established in the PRC. Adhering to the mission of "leading China's leasing industry, serving the real economy", CDB Leasing is dedicated to providing comprehensive leasing services to high-quality customers in fields including aviation, infrastructure, shipping, inclusive finance, new energy and high-end equipment manufacturing.The press release is distributed by Ever Bloom (HK) Communications Consultants Group Limited on behalf of China Development Bank Financial Leasing Co., Ltd.Ever Bloom (HK) Communications Consultants Group LimitedMiss Diva Ding / Orianna Ou / Wu XiaoyueTel: (852) 3468 8434 / (852) 3468 8944Fax: (852) 2111 1103Email: diva.ding@everbloom.com.cn / orianna.ou@everbloom.com.cn / xiaoyue.wu@everbloom.com.cn Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Viva Biotech Announced 2020 Annual Results

HONG KONG, Mar 31, 2021 - (ACN Newswire via SEAPRWire.com) - Viva Biotech Holdings (1873.HK) announced that during the year ended December 31, 2020 (the "Reporting Period"), revenue of the Group increased significantly to RMB 697.0 million from RMB 323.1 million for the corresponding period last year, representing a YoY increase of 115.7%; gross profit increased substantially to RMB 304.9 million from RMB 155.9 million for the corresponding period last year, representing a YoY increase of 95.6%.Financial Highlights of the year ended December 31, 2020:-- Revenue reached RMB 697.0 million, representing a year-on-year (YoY) increase of 115.7%-- Gross profit reached RMB 304.9 million, representing a YoY increase of 95.6%-- Adjusted non-IFRS net profit amounted to RMB 252.3 million-- Adjusted earnings per share amounted to RMB 0.18-- The Board recommended the payment of a final dividend of HK$0.01Driven by the increase in outsourcing proportion of large-scale pharmaceutical enterprises and demand from small and medium-sized biotechnology companies, the global drug research and development ("R&D") and production service industry continued demonstrating an upbeat trend. Viva Biotech proactively grasped the opportunity and achieved both internal growth and external expansion. The synergistic effects of the Group's cash-for-service (CFS) model and equity-for-service (EFS) model were further demonstrated. The Group has thus made substantial progress in vertical integration and expansion along the industry chain to CDMO business.Revenue from CFS Business Surged, Diversified & Extensive Customer GroupsDuring the Reporting Period, Viva Biotech's revenue from the CFS business increased significantly by 146.3% YoY to RMB 604.7 million. The total number of clients amounted to 1,252. The growth was primarily attributable to the extensive and diverse quality client groups, increase in orders from clients, and the CDMO and commercialization services due to acquisition of Langhua Pharmaceutical. The backlog order under the CFS business model grew by approximately 54.7% and reached approximately RMB 416 million. As of December 31, 2020, the Company had accumulatively provided drug discovery services to over 543 biotechnology and pharmaceutical clients, delivered more than 21,000 protein structures and conducted R&D into over 1,500 independent drug targets. Clients included the global top 10 pharmaceutical companies (in terms of revenue in 2019) and 35 companies included in Fierce Biotech's Fierce 15. Revenue from repeated clients accounted for over 85% of the revenue during the Reporting Period. Industry Chain Integration and Expansion of CDMO BusinessHolding the aim to establish a one-stop platform from discovery to commercial production of novel drugs, the Company completed the strategic integration of Langhua Pharmaceutical in November 2020. As a comprehensive pharmaceutical R&D and manufacturing company, Langhua Pharmaceutical is mainly engaged in the production of small molecule APIs and intermediated and CDMO business. As of December 31, 2020, Langhua Pharmaceutical recorded revenue of RMB1,518.1 million throughout the year, representing a YoY increase of 22.7%. Sales revenue from its CDMO business amounted to RMB 875 million, representing a YoY increase of 54%. Langhua Pharmaceutical had served a total of over 709 clients, of whom the retention ratio of top ten clients reached 100%, and has independently produced 95 varieties of API and CDMO projects so far. EFS Business Continuously Expanding, Portfolio Companies Made Substantial R&D ProgressDuring the Reporting Period, due to the increase in the incubated companies and their growing demands, revenue from the EFS business increased by 19.1% YoY to RMB 92.3 million, and backlog order climbed by approximately 138.8% YoY and reached approximately RMB 191 million. Throughout 2020, the Company reviewed a total of over 834 projects globally and added 21 start-ups to its portfolio companies, and added additional investment in 10 existing portfolio companies, covering multiple indications, modalities and locations. During the Reporting Period, R&D for all of the portfolio companies rolled out smoothly and total number of pipeline projects exceeded 120, half of which had entered PCC/IND-enabling stage. Meanwhile, the Company proactively carried out post-investment support, including enhancing talent recruitment, optimizing product pipeline development strategies, bridging financing resources and launching industry events such as Demo Day and Viva Biotech Partnership Summit, to develop and enhance ecosystem construction.Enhancing Strengths of Technology Platforms, Expanding Scales of Staff and FacilitiesDuring the Reporting Period, the Company invested RMB 66.0 million in R&D, representing a YoY increase of 46.7%. Besides the continuous optimization of existing technology platforms, the investment was primarily used for the introduction of new technology platforms, such as Cryo-EM and computational chemistry. The Company also actively expanded into the field of antibody macromolecules and set up CMC process development team, so as to take the initiative to expand and meet clients' demand for R&D and production services at various stages.As of December 31, 2020, the Group had a total of 1,619 employees, including 643 employees newly consolidated from Langhua Pharmaceutical. The Company (excluding Langhua Pharmaceutical) had 976 employees, including 817 R&D personnel, with a laboratory and office premise of approximately 24,000 square meters. To better accommodate the rapid-growing business needs and personnel increase, save rental expenses and provide stable R&D, production and operation premises, the Company proactively expanded its business bases and obtained properties and land banks in Zhoupu, Shanghai; Zhangjiang, Shanghai; Chengdu, Sichuan; and Qiantang New District, Hangzhou.Dr. Cheney Mao, Chairman and Chief Executive Officer of Viva Biotech Holdings, said, "Positioning at the early drug discovery sources from '0' to '1', the Company enjoys advantages in terms of technology platforms, client flow and talents. In the future, the Company will continue to construct and raise technology barriers, enhance talent recruitment, strengthen bridging of customers and portfolio companies, improve operating efficiency, tap into the synergistic effect, accelerate the construction of one-stop drug discovery and production service platforms from '0' to '1' and to 'N', to establish an open and cooperative platform targeting global biopharmaceutical innovators."About Viva Biotech HoldingsViva Biotech's mission is to become a cradle for innovative biotechnology companies from around the world. We have developed a scalable business model combing the conventional cash-for-service (CFS) model and its unique equity-for-service (EFS) model. Under the CFS model, the Group provides one-stop service for novel drug discovery and production to global pharmaceutical clients. EFS business is dedicated to investing globally in biotech innovation with novel solutions to unmet medical needs across multiple therapeutic areas. As of December 31, 2020, Viva Biotech had provided drug discovery and production services to 1,252 pharmaceutical clients worldwide, worked on over 1,500 independent drug targets, delivered approximately over 21,000 independent protein structures and incubated/invested 67 biotech companies. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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