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Man Wah FY2021 Revenue from Main Business Up 35% to HK$16.4 Billion Despite Harsh Market Conditions, Net Profit Rises to HK$1.92 Billion

HONG KONG, May 14, 2021 - (ACN Newswire via SEAPRWire.com) - Man Wah Holdings Limited ("Man Wah" or the "Group", stock code: 1999) today announced its audited annual results for the year ended 31 March 2021 ("FY2021" or the "Review Year"). During the Review Year, Man Wah actively promoted the development of its domestic business, enabling the Group to overcome effectively the adverse external impact on its business. The Group's market share in China's recliner sofa market has expanded to 59%, an achievement which has made it the world's top seller of recliner sofas for three consecutive years.In FY2021, the Group's sales revenue (excluding those from real estate, malls and other businesses) increased by 35.3% to HK$16.43 billion as it received a strong boost from sales revenue in the China market where revenue significantly increased by approximately 61.9%. Profit Attributable to Owners of the Company expanded by 17.5% to HK$1.92 billion. Net profit margin was approximately 11.7%. As of 31 March 2021, the Group was in a sound financial position, with a bank balance and cash of approximately HK$2.4 billion, and a current ratio at 1.4. To reward shareholders for their long-term support, the Board has proposed a final dividend of HK16 cents per share. Together with the interim dividend of HK10 cents that was already paid, the total dividend for the year amounted to HK26 cents per ordinary share, representing a dividend payment ratio of 52.7% and an increase of 8.4 percentage points compared to the dividend payment ratio of 44.3% in the previous year.Business ReviewChina MarketDuring the Review Year, China's overall economy faced daunting challenges posed by the pandemic, but opportunities emerged as consumption recovered and demand for household products expanded. By employing effective store expansion, marketing and store operation, vigorous development of e-commerce sales, and active promotion of business model innovation, the Group gained more market share in the Chinese furniture market and it achieved strong revenue growth. Revenue from its main business in the China market expanded by 61.9% to HK$9.98 billion, accounting for more than 60% of the Group's total revenue during the Review Year, and serving as its principal growth driver.As of 31 March 2021, the Group had a total of 4,122 "CHEERS First-class Cabin" brand sofa and "CHEERS Five-star Mattress" brand stores in China. During the Review Year, the Group achieved a net increase of 1,125 in the number of its brand stores.As regards online sales, the Group continued to enhance its sales on Tmall, JD.com and other e-commerce sales platforms, and it also actively promoted the live broadcast sales model. Using short video promotions, live broadcasts of its own stores, and in-depth collaboration with leading online streamers, the Group achieved a substantial expansion of business volume, fans base and brand influence. In addition, the Group also made active deployments in new retail business and it also undertook an integration of its online and offline business, a strategic move which drove online sales to grow by a very hefty approximate of 41.0% to HK$2.19 billion.North America marketAlthough the Group's business was adversely affected by its strategy of shifting from exports to domestic sales amid the pandemic overseas, its export orders to North America resumed their rapid growth in the second quarter of 2020, marked notably by sales revenue of its main business from the North America market which rose by approximately 30.5% to HK$4.58 billion. The capacity of the Group's new plant in Vietnam, which started operating in 2020, increased rapidly, with most of the productions carried out for the U.S. customers have been basically transferred to the Vietnam plant, effectively mitigating the adverse impact of tariffs imposed by the US government.Europe and other Overseas MarketsDuring the Review Year, the Group's revenue in Europe was inevitably affected by the impact of Brexit and COVID-19. However, revenue from its main business (excluding that from the Home Group) in Europe and other overseas markets only decreased by 6.5% to HK$876.6 million.The Home Group had five sofa manufacturing plants in Poland, the Baltic States and Ukraine which are mainly engaged in the design and production of stationary sofas and sofa beds. Products of the Home Group are sold to many European furniture retailers. Revenue from its main business increased by 2.7% from the level in the same period last year.ProspectsChina's large population has indeed created a huge consumer market. In view of this, the Group will continue to strengthen its core competitiveness and branding in recliner sofas to maintain its leading position in the industry. It will also continue to raise its core competitiveness and build stronger barriers by further enhancing innovation and intelligent automation of iron frames and motors, representing moves that will ultimately reduce product costs and enable the attainment of price advantages. Since recliner sofas provide higher cost-performance and better styles, coupled with the introduction of e-commerce, live streaming, TikTok, and other measures, the Group has accelerated the exposure and recognition of recliner sofas. Looking ahead, Man Wah will continue to improve consumer experience on recliner sofas in both offline and online stores via experimental scenarios so as to create a better sales conversion rate.With the easing of the pandemic and recovery of the economy, the export markets for recliner sofa will gradually pick up, with orders resuming their growth. In view of this, Man Wah has established its own brand "MW Home" in the North American market, and its export sales have posted growth. The Group also plans to expand its exports of stationary sofas, and produce more diversified and competitive products, as well as actively exploring more new customers, so as to maintain stable development of its export business.Dr. Wong Man Li, Chairman of Man Wah, said, "Chinese consumers are giving more focus on comfort from household products. In view of this growing demand, the Group will continue focusing on stationary sofas, but it has also added more experiential functions and improved comfort of its recliner sofa products, providing consumers with a much enhanced experience. Thanks to the self-supply of core components, we are able to offer recliner sofas at more cost-effective prices to a wider range of families, while meeting rigid market demands. In the current market marked by low market share and differentiation, we insist on creating differentiated products and experiences for consumers in order for the Group to better achieve scale advantages and accelerate the penetration rate of our products in the soft market in the future, and bring better returns to our shareholders." Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Global Internet of People Inc. Posts Robust 2020 Business Growth

SHANGHAI, May 7, 2021 - (ACN Newswire) - Global Internet of People, Inc. (NASDAQ:SDH), an operator of a knowledge sharing and enterprise service platform via mobile application and through local centers in China, is one of the few knowledge-sharing platform companies that has reported robust business performance in the past year. The company has posted strong growth and generated $23.18 million revenue in 2020, representing a 29.28% increase from the same period of 2019. Its net income was $11.96 million in 2020, also growing by 27.51% from the same period of 2019. These were all driven by strong corporate client demand for gaining an insight into how to deal with such a "black swan" event as the COVID-19 pandemic.SDH worked hard in developing digitalization-related services in 2020 to support enterprise clients seeking a recovery via industrial innovations during the pandemic period. The company invited experienced entrepreneurs, investors and scientists to share their counter COVID-19 strategies in marketing, service and digital innovations and jointly held global capital market summit to help establish a platform for dialogue so that enterprise clients were able to inter-communicate and seek potential cooperation in projects and investments through a digitalized connection. SDH is able to therefore report a 446% growth in online services during the fiscal year 2020.The company also enhanced its customized in-depth consultation services in investment and fundraising, IPO listing guidance, financing resources sharing, strategic planning, and in business operation and incubation as it continues to build an ecosystem that possesses the know-how of supporting corporate clients' innovative business growth with the most needed knowledge and resources. As a result, SDH generated $13.35 million revenue from providing customized services, which attributed 58% sales to the total revenue generated during fiscal year 2020 and also represented a 132.78% increase year over year from the same period of 2019."The more pressure that faces entrepreneurs, the more they need intellectual empowerment and help. Sharing wisdom and arming the vast number of small and medium-sized entrepreneurs with this wisdom of industry experts is the best way to promote high-quality economic development, achieve scientific entrepreneurship and boost the overall efficiency of our society," said Mr. Haiping Hu, Chairman of the Board and Chief Executive Officer of SDH. "In today's new economic era, change will become the norm, and it is all the more necessary for entrepreneurs to enhance their wisdom, spontaneously respond to the changing trends and lead their ways in innovation. SDH is willing to join hands with more regions and enterprises to achieve this goal of smart industrial development."Media ContactCompany: Global Internet of People, Inc.Email: IR@sdh365.comContact: Shousheng GuoTelephone: +86-13681593245Website: http://www.sdh365.com/SOURCE: Global Internet of People, Inc.

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Alltronics Records Strong Growth of FY2020 Revenue and Profit

HONG KONG, Mar 31, 2021 - (ACN Newswire via SEAPRWire.com) - Alltronics Holdings Limited ("Alltronics" or the "Group") (SEHK: 833), a leading electronic products manufacturer and provider of energy-saving business solutions, has announced its annual results for the year ended 31 December 2020 ("review year"). During the review year, the operating environment of the Group remained challenging with the global economy adversely affected by the outbreak of COVID-19 pandemic. Although production and sales revenue of the Group were significantly affected in the first quarter of the year, the manufacturing operation managed to quickly resumed to normal came the second quarter and demand from customers continuously increased in the second half year. Revenue of the Group grew significantly by 74.8% to HK$2,203.8 million (2019: HK$1,260.8 million). Gross profit margin widened from 14.6% in 2019 to 18.8% in 2020, owed mainly to the significant increase in total sales revenue during the year and better control on production costs and overheads. Profit for the year attributable to owners of the Company turned around from a net loss to a net profit of HK$122.4 million (2019: loss of HK$262.0 million), on account of the increase in sales revenue and the absence of impact of impairment loss in the review year as oppose to the previous year.Basic earnings per share of the review year were HK12.94 cents. In its appreciation for the shareholders' continuous support, the Board has proposed to declare the payment of a final dividend of HK2.0 cents per share.Business Review and ProspectsThe Group continued to focus on its electronic products business, which total sales revenue from finished electronic products, plastic moulds and components, and other components for electronic products amounted to HK$2,199.8 million (2019: HK$1,255.8 million) for the review year, up by an impressive 75.2% against the previous year. The rise in public health awareness amid the COVID-19 pandemic led to a significant increase in demand for the Group's electrostatic disinfectant sprayers during the second half of 2020, pushing up sales of the product to HK$972.3 million (2019: HK$6.9 million). Sales of irrigation controller products also rose to HK$496.6 million (2019: HK$457.7 million). The Group believes electrostatic disinfectant sprayers and irrigation controllers will continue to be its dominant income streams in the year ahead.As for the energy saving business segment, its total revenue for the year climbed to HK$2.6 million (2019: HK$1.6 million), mainly backed by the energy saving revenue generated from the retail stores of Suning.com Co., Ltd. ("Suning"). To focus more resources on its core manufacturing business, the Group has agreed with Suning to cease installation work at the retail stores of Suning. The Group also strategically offered a discount to Suning in order to secure a prompt settlement of all energy saving revenue. Discontinuing installation work at Suning stores has not resulted in any material impact on the overall operation and performance of the Group.Looking ahead, the Group will continue to explore new markets and new customers to broaden its customer base, as well as look for opportunities for new electronic products with customers and potential customers so as to broaden its revenue base and maintain business growth momentum. The Group will also continue to tighten control over production costs and overheads, plus improve production efficiency, so as to enhance its overall gross profit margin.Mr. Lam Yin Kee, Chairman of Alltronics, concluded, "2020 undoubtedly was a tough year for businesses in most industries. Although the impacts of the COVID-19 pandemic and the unstable global economy will continue to pose threats to the operating environment, the Group is cautiously optimistic about its business performance in 2021. In the future, we will continue to focus on our core electronic products segment, put more resources and efforts into exploring opportunities for new products and projects with existing and potential customers, with the ultimate goal of providing better returns to shareholders."About Alltronics Holdings Limited (Stock code: 833)Alltronics Holdings Limited is mainly engaged in the design and manufacture of a wide range of electronic products with quality and style, supplying biodiesel products and energy efficient gas stoves, as well as the provision of energy-saving business solutions. The Company is a constituent stock of the Morgan Stanley Capital International ("MSCI") Hong Kong Micro Cap Index. For more information, please visit the company website http://www.alltronics.com.hk/. Media enquiriesStrategic Financial Relations LimitedVicky Lee Tel.: +852 2864 4834 Email: vicky.lee@sprg.com.hkAngela Wong Tel.: +852 2114 4953 Email: angela.wong@sprg.com.hkPinky Hui Tel.: +852 2114 2897 Email: pinky.hui@sprg.com.hkWebsite: www.sprg.com.hk 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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Huisen Household Announces 2020 Annual Results

HONG KONG, Mar 25, 2021 - (ACN Newswire via SEAPRWire.com) - China's major furniture product manufacturer Huisen Household International Group Ltd. ("Huisen Household" or "the Group"; stock code: 2127.HK) announced audited annual results for the year ended 31 December 2021 ("the review period") today. During the review period, the Group's revenue increased by approximately 4.7% to RMB 3,896 million, gross profit was approximately RMB 944 million. After deducting listing and other expenses, the group's profit for the year was approximately RMB 541 million, representing a decrease of approximately 4.9% as compared to the same period in 2019, mainly due to a loss of approximately RMB 85.3 million in exchange losses compared to approximately RMB 2.8 million in exchange gains 2019. Earnings per share was RMB 0.24. The board of directors recommends the payment of a final dividend of HK7.9 cents (equivalent to approximately RMB7 cents) per share for the review period.Mr. Zengming, chairman and executive director said: "In 2020, the world went through a year like no other. The coronavirus ("COVID-19"), a once-in-a-century pandemic, ravaged the world, making considerable impacts on the global economy. It also put a daunting challenge on the furniture industry at the beginning of the outbreak. Last year, the Group successfully listed on the main board of the Stock Exchange in a challenging year. Although the outbreak COVID-19 posed unexpected and serious threats to the global economy, the pandemic did not have a significant adverse impact on the Group's sustainable operation, the Group's revenue continued to record positive growth during the period under review."However, as the global economy was being hit hard by the pandemic, some of the small and medium-sized furniture traders reduced their orders. The Group carefully assessed the situation and focused strategically on maintaining its major customers. In FY2020, the sales to the top five customers of the Group achieved growth in different degrees, with the growth rates ranging from 3% to 9%. The Group's revenue for the period was approximately RMB 3,343 million.Panel-type FurnitureThe Group's panel-type furniture products include television cabinets, bookshelves, shelves, desks and coffee tables. Panel-type furniture has always been the core revenue driver of the Group. During review period, the revenue was approximately RMB 3,606 million, an increase of 3.5% over the same period in 2019. Gross profit margin of panel-type furniture recorded slight increment due to the higher gross profit margins from some of our newly launched panel-type furniture products, as well as the increase in prices of some products, which partially offset the impact of the depreciation of the U.S. dollar against the RMB.Upholstered FurnitureLeveraging on our expertise and experience on product design and development as well as our business relationships with major overseas retail chains and furniture traders, we further expanded the supply of upholstered furniture to open up new markets. The Group's upholstered furniture mainly includes sofas. During the review period, the revenue of upholstered furniture increased by approximately 16.4% to RMB130 million with a stable gross profit margin of approximately 33.4% for both FY2020 and FY2019. Products sales with relatively high gross profit margins increased among upholstered furniture, which partially offset the impact of the continued depreciation of the U.S. dollar against the RMB.Outdoor and Sport-Type FurnitureSports and recreational equipment mainly include table tennis tables, foosball tables and pool tables. The outdoor furniture mainly includes outdoor tables and stools. The revenue of other furniture amounted to approximately RMB160 million, representing an increase of 29% as compared the same period in 2019. The gross profit margin of other furniture decreased from approximately 29.5% in 2019 to approximately 28.0% in the review period, mainly due to the depreciation of the U.S. dollar against the RMB. In terms of overall sales, sales from the United States is still the most significant among all geographical regions. The revenue derived from the sales of furniture product with the United States as the delivery destination decreased by approximately 2.1% compared to the same period in 2019 and the sales ratio to our total revenue decreased from approximately 71.8% to 67.1%, representing a decrease of approximately 4.7%, which was mainly due to the strategy adopted by the Group to actively expand downstream markets other than the United States. Sales revenue from mainland China decreased by approximately 23.2%, which was mainly due to the Group's priority to guarantee furniture sales of overseas customers. Increment of sales in Malaysia, Canada and other regions were more significant. Sales in other regions increased by approximately 81.4% as there were significant growth of sales in Australia, Philippines and France. The Group strive to expand sales outside the United States to reduce reliance on the U.S. market and risk of potential trade frictions between the United States and mainland China.Mr Zeng said, "During the pandemic, as large-scale restrictive measures have been implemented, the mainland China achieved significant strategic results in combating against COVID-19. In the first quarter of 2020, the pandemic in mainland China was largely brought under control and was one of the first countries to restore manufacturing production capacity and resume normal activities. Many companies resumed normal production and operation, the furniture companies also resumed normal production and operation, the furniture companies also resumed production and work in an active and orderly manner. At the same time, furniture manufacturing countries in Southeast Asia were still disturbed by the pandemic. As a result, demand from the supply chain in the global market had shifted to the mainland China, hence the booming development of the furniture industry in the second half of the year."Looking ahead, the global economy will continue to be affected by COVID-19, and the massive roll out of vaccines in various countries around the world and the development progress of drugs will play a key role in economic recovery. Challenges are accompanied by opportunities. Despite the uncertainties surrounding the evolution of the pandemic, the Mainland China remains the most competitive country in the world in terms of the supply chain when compared to panel furniture made in the United States which has long relied on imported panel furniture. In addition, as foreign economies begin to recover and working from home becomes the new norm, it is expected that demand for furniture products will gradually increase. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Tai Hing Announces 2020 Annual Results

HONG KONG, Mar 25, 2021 - (ACN Newswire via SEAPRWire.com) - Tai Hing Group Holdings Limited ("Tai Hing" or the "Group"; stock code: 6811), a multi-brand casual dining restaurant group with roots in Hong Kong and a network of more than 210 restaurants in Hong Kong, Mainland China, Macau, and Taiwan, has just announced its annual results for the year ended 31 December 2020 (the "Review Year" or the "FY2020").RESULTS HIGHLIGHTSRevenue contracted by 14.0% to HK$2,797.9 million (FY2019: HK$3,252.3 million)-- Revenue from major operations in Hong Kong, Macau and Taiwan only down 12.1% to HK$2,269.7 million - increased sales from self pick-up takeaway and delivery business partially offset the reduced dine-in traffic due to the social distancing measures to curb COVID-19 -- The Group's restaurants in Mainland China gradually resumed operation in March, thus achieving a significant rebound in revenue in the second half of the Review YearGross profit and gross profit margin recorded at HK$1,976.3 million (FY2019: HK$2,319.7 million) and 70.6% (2019: 71.3%) respectivelyProfit attributable to owners of the Company increased 54.8% to HK$119.0 million (FY2019: HK$76.9 million)Recommended a final dividend of HK6.4 cents per share; hence total dividend for FY2020 was HK7.7 cents per share, representing a dividend payout ratio of 65%"Men Wah Bing Teng" recorded a significant revenue growth of 64.7% to HK$493.2 million (FY2019: HK$299.5 million), with revenue generated from Mainland China market surged by 545.2%.18 stores were opened in total in Hong Kong and Mainland China during FY2020 and it became the second-largest revenue contributor of the Group Despite the challenging business environment resulting from the outbreak of the novel coronavirus disease 2019 (COVID-19), the Group has implemented various measures to save costs and explore new income sources while managing to maintain stable income growth by leveraging its well-established multi-brand strategy. During the Review Year, the Group recorded stable revenue of HK$2,797.9 million (FY2019: HK$3,252.3 million). Gross profit and gross profit margin were HK$1,976.3 million (FY2019: HK$2,319.7 million) and 70.6% (FY2019: 71.3%) respectively. Profit attributable to owners of the Company increased 54.8% to HK$119.0 million (FY2019: HK$76.9 million). Basic earnings per share were HK11.89 cents (FY2019: HK8.65 cents). Despite the challenging business environment, the Group's financial status remains healthy with sufficient cash and stable operating cash inflow to allow it to weather the current headwinds and facilitate its future development. As at 31 December 2020, the Group had cash and cash equivalents of HK$562.1 million (As at 31 December 2019: HK$711.1 million).The Board has resolved to propose a final dividend of HK6.4 cents per ordinary share for the year ended 31 December 2020. Together with an interim dividend of HK1.3 cents paid during FY2020, total dividend will amount to HK7.7cents.Business reviewAs at 31 December 2020, the Group has a network of 213 restaurants spanning across Hong Kong, Mainland China, Macau and Taiwan, under 15 casual dining brands.Revenue from self pick-up takeaway and delivery business accounted for approximately 33% of total revenueIn Hong Kong, various pandemic-related restrictions inevitably affected the Group's business performance. Nonetheless, by the Group's quick thinking and swift response to the "new normal", it was able to enhance the performance of other business interests, namely self pick-up takeaway and delivery business. Consequently, revenue from the aforementioned operations increased appreciably, accounting for approximately 33% of the total revenue, with over 80% of the revenue contributed by the self pick-up takeaway business, thus helping to offset the loss in dine-in revenue. With the upward trend in "home meals", the Group has rolled out initiatives to capture the resultant business opportunities, including the introduction of "Fanfanslife", a self-developed online ordering platform to boost the performance of the self pick-up takeaway food business while at the same time ensure added convenience for customers. Also, the Group has continued to co-operate with leading third-party food ordering platforms, both in Hong Kong and Mainland China, to increase its stake in the food delivery business. More efforts were also placed in food delivery promotions and discounts on self pick-up takeaway to bolster the business further. High-growth "Men Wah Bing Teng" outperformed in both Hong Kong and Mainland ChinaIn terms of brand development, the high-growth "Men Wah Bing Teng" brand has continued to outperform the market. During the Review Year, it achieved significant revenue growth, climbing by 64.7% to HK$493.2 million (FY2019: HK$299.5 million). Thus, the business became the second largest revenue contributor of the Group in FY2020, accounting for 17.6% of the Group's total revenue. "Men Wah Bing Teng" has demonstrated tremendous resilience against the economic downturn and weak consumption sentiment due to COVID-19, and has been warmly welcomed by the market, which is especially true in Mainland China, where revenue increased by 545.2% in FY2020. Adding to its accomplishments has been several awards, including "The Most Popular Cuisine Ranking" in Hangzhou by Dianping.com.Recognising the tremendous potential of "Men Wah Bing Teng", the Group opened more stores in Hong Kong and Mainland China during the Review Year with a net addition of seven stores in the former and 11 stores in the latter that represented the highest number of store openings among the Group's brands in FY2020, and will go toward raising the stature of "Men Wah Bing Teng" even further."Tai Hing" as the signature brand of the Group, with a history of operating in Hong Kong stretching three decades, as well as over 15 years in Mainland China, continued to contribute the largest share of revenue to the Group, generating HK$1,472.1 million in revenue, and accounting for 52.6% of the Group's total revenue. In Hong Kong, revenue generated from the "Tai Hing" brand amounted to HK$1,104.9 million and the brand maintained a stable restaurant network of 54 stores, hence again demonstrating its resilience - performing steadily despite the mandatory social distancing measures implemented by the government to contain COVID-19. Other important revenue streams of the Group include "TeaWood", which has been its third largest contributor, generating HK$398.2 million in revenue, and accounting for 14.2% of the Group's total revenue in FY2020. Worth to note among the recent launches is "Asam Chicken Rice". During the Review Year, the Group opened six more "Asam Chicken Rice" restaurants in various Hong Kong districts to build on the positive momentum. The brand possesses the potential for becoming another "rising star" of the Group. ProspectsThe Group believes that its multi-brand strategy will continue to be paramount to its success, hence will further consolidate and expand its restaurant network, while remaining fully mindful of the present economic and market conditions. The Group will enhance market penetration by opening restaurants from its various brands to satisfy different customers' needs. Besides, with an outstanding track record in developing new brands, including "Men Wah Bing Teng" and "Asam Chicken Rice", the Group will leverage its experience to introduce more "star brands" in Hong Kong and Mainland China to tap market trends and address the preferences of its customers. In line with its commitment to promptly responding to customers' interests and catering the post-pandemic "new norm", the Group will continue to seize opportunities arising from self pick-up takeaway and food delivery. The Group will further enhance the strategy on self pick-up takeaway business, and upgrade its self-developed ordering platform "Fanfanslife", to encourage more self pick-up takeaway orders. The Group will also continue co-operating with leading third-party food ordering platforms to extend its business coverage and complement those areas not yet covered by the restaurant network .With regard to automation, the Group will step up efforts in introducing the next generation of food processing equipment to its restaurants, and thus uphold its tradition of innovation and industry leadership. Furthermore, it persistently streamlines its production processes to derive greater efficiencies and cost savings. At the same time, more resources will be directed to the deployment of various advanced technology systems, upgrading the IT systems, and boosting big data applications, to support the expansion of the Group's restaurant network and facilitate sustainable development in the long run. Mr. Chan Wing On, Chairman and Executive Director of Tai Hing, said, "In spite of the great challenges faced over the past year, Tai Hing Group always adhered to its business development approach, marked by stringent cost controls under the framework of sound management, while actively exploring new opportunities for business expansion in a prudent manner through its multi-brand strategy. Looking ahead, we will continue upholding our well-developed multi-brand strategy to enhance our market penetration by expanding the Group's restaurant network. We stay cautiously optimistic in the Group's development and remain committed to deliver long-term sustainable returns to our shareholders."About Tai Hing Group Holdings Limited (stock code: 6811)Tai Hing Group Holdings Limited ("Tai Hing Group") is a multi-brand casual dining restaurant group with roots in Hong Kong. In addition to its flagship "Tai Hing" brand, the Group has a growing brand portfolio comprisng of self-developed brands, and acquired and licensed brands, including "TeaWood", "Trusty Congee King", "Men Wah Bing Teng", "Pho Le", "Tokyo Tsukiji", "Fisher & Farmer", "Rice Rule", "Hot Pot Couple", "King Fong Bing Teng", "Asam Chicken Rice", "Daocheng" ,"Winter Joy" , "White Little", "Dimpot" and "Dumpling Station". Currently, it has a network of more than 210 restaurants in Hong Kong, Mainland China, Macau and Taiwan. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Sino Biopharmaceutical 2020 Net Profit Grows to RMB2.77 Billion amid Adversity

HONG KONG, Mar 23, 2021 - (ACN Newswire via SEAPRWire.com) - Sino Biopharmaceutical Limited ("Sino Biopharmaceutical" or the "Company", together with its subsidiaries, the "Group") (HKEX:1177), a leading and innovation-driven pharmaceutical conglomerate in the PRC, has announced its audited annual results for the year ended 31 December 2020. During the year, the Group switched marketing and sales resources towards new products by capturing opportunities arising from industry policies and boosted product sales by leveraging new online platforms. These efforts have brought about bountiful harvest, driving revenue from products that have been launched to market in the past three years to double to approximately RMB8.06 billion, and their contributions to total revenue jumping from 16.6% to around 34.1%.Development Highlights-- Profit attributable to the owners of the parent was approximately RMB2.77 billion, while earnings per share were approximately RMB14.74 cents, representing modest increases of approximately 0.3% and 0.4% respectively over the last year amid adversity.-- Sales of new products launched within five years accounted for approximately 38.1% of the Group's total revenue, amounted to approximately RMB9.01 billion, an increase of approximately 79.3% over the last year. Cumulative revenue from 45 products that have been launched to market in the past three years has grown by over 100% compared with last year's level to around RMB8.06 billion, and their contributions to total revenue have also increased from 16.6% to about 34.1%.-- The oncology drug FOCUS V (Anlotinib) has been approved for three new indications, namely non-small cell lung cancer, small cell lung cancer and soft tissue sarcoma, and it has been included to the National Medical Reimbursement Drug List. The Group has formed a strong product mix with over 23 oncology products for various solid or haematological tumors. Oncology products of the Group have included more and more new products which have generated strong revenue, accounting for 40.3% of total revenue, and becoming the Group's most important product category.-- The Group made a capital contribution to Sinovac Life Sciences Co., Ltd. ("Sinovac LS") that amounted to US$515 million and becomes interested in a 15.03% equity interest in Sinovac LS. Sinovac LS has made significant progress in the phase III clinical trials of its inactivated COVID-19 vaccine and it has received orders from different countries, with a promising profitability outlook. The investment will help Sinovac enhance its R&D and production capabilities of CoronaVac, a COVID-19 vaccine. The investment also marks Sino Biopharm's foray into vaccine R&D and production.-- Penpulimab (Annike), an anti-PD-1 monoclonal antibody drug that is jointly developed by the Group and Akeso, Inc., for third-line treatment of metastatic nasopharyngeal carcinoma has gained fast-track designation (FTD) from the U.S. Food and Drug Administration (FDA).-- In the fourth quarter, the Group obtained 12 approvals for drug registration and passed (or are deemed to have passed) Consistency Evaluations for 23 chemical drugs. The Group obtained a total of 35 approvals for new drug registration and passed the Consistency Evaluations for 47 chemical drugs during 2020.Net profit grows amid adversityDuring the year, the Group recorded revenue of approximately RMB23.65 billion (2019: RMB24.23 billion). Profit attributable to the owners of the parent was approximately RMB2.77 billion, while earnings per share were approximately RMB14.74 cents, representing modest increases of approximately 0.3% and 0.4% respectively over the last year amid adversity. The Group has maintained a healthy financial position with cash and bank balances reaching approximately RMB11.26 billion at the year end.The Board of Directors declared a final dividend of HK2 cents per share. Together with the dividend of HK2 cents per share already paid in each of the first three quarters, the total dividends for the year amounted to HK8 cents per share (2019: 8 cents).Promptly responds to COVID-19 pandemic fightAt the start of the COVID-19 pandemic, the Group, with its strong sense of social responsibility and high sensitivity, responded promptly and donated funds and materials to efforts aimed at controlling the pandemic. It made an emergency decision to add mask production lines and production of masks commenced to meet the urgent needs amid the pandemic. Since January 2020, the Group has made 18 donations of funds, drugs and materials involving a combined amount of RMB22 million. In addition, the Group resumed work and production as soon as possible while complying strictly with the government's COVID-19 prevention and control measures. While according high priority to the production of drugs that were urgently needed during the pandemic, the Group also strived to meet market demand for other general drugs.By directing marketing and sales resources towards new products in response to policy changes, revenue from new products marketed over the past three years rises to account for around 34.1%The Group addressed the impact of centralized drug procurement by switching marketing and sales resources towards new products that have been approved for launch in the last three years and carry significant academic value. Cumulative revenue from 45 products that have been marketed in the past three years has grown by over 100% compared with last year to RMB8.06 billion, and their contributions to total revenue have also enlarged from 16.6% to around 34.1%, which has partially mitigated the influence from old products due to the centralized drug procurement program.As for the therapeutic categories, the oncology drug FOCUS V (Anlotinib) has been approved for three new indications, namely non-small cell lung cancer, small cell lung cancer and soft tissue sarcoma, and it has been included to the National Medical Reimbursement Drug List. The Group has formed a strong product mix with over 23 oncology products for various solid or haematological tumors. The Group's oncology products have included more new products which have generated strong revenue, accounting for 40.3% of total revenue, and becoming the Group's most important product category. The new respiratory drug Tianqingsuchang generated strong sales of over RMB500 million after it was launched to market more than six months ago and it is therefore worth looking forward to its higher revenue and profit contributions.Promotes product sales with the use of new online platforms and achieves impressive resultsAmid the pandemic, numerous academic exchanges and other forms of academic activities, organized in new online platforms, have brought about bountiful harvest. The Group actively explored and expanded investments in online marketing, academic activities and services. Nearly 80,000 different kinds of online academic activities were held for nearly 30 million customers and patients. The Group also strived to connect with and optimize sales terminals by working with over 60,000 pharmacies, which had served nearly 2 million patients. Its efforts successfully boosted product sales. Online marketing and academic services have since become an important part of the Group's sales and marketing operations.Stepping up investment in R&D reaps bountiful harvestFor the year, the total R&D expenditure of approximately RMB2.85 billion, which accounted for approximately 12.1% of the Group's revenue. The Group's increase in investments in R&D has achieved fruitful results during the year. During the fourth quarter, the Group was granted 5 clinical trial approvals, 12 production approvals, and 23 approvals for Consistency Evaluation, and made 6 clinical trial applications, 2 applications for Consistency Evaluation and 4 production applications. Cumulatively, a total of 391 pharmaceutical products had obtained clinical trial approval, or were under clinical trial or applying for production approval. Out of these, 39 were for hepatitis medicines, 183 for oncology medicines, 22 for respiratory system medicines, 20 for endocrine, 16 for cardio-cerebral medicines and 111 for other medicines.In 2020, the Group obtained 35 approvals for drug registration and 47 approvals for Consistency Evaluation. It submitted 41 applications for clinical trial, and completed production filing after clinical trials for 25 products. 12 applications for Consistency Evaluation were made. The Group obtained 191 patent approvals, including 158 invention patents. Cumulatively, the Group has obtained 924 invention patent approvals, making the Group the leading pharmaceutical company in China in terms of patent approvals.Looking ahead: The Group will adopt marketing & sales and service model that employs online platformsLooking forward to 2021, domestic supply and demand have rebounded strongly. After COVID-19 vaccines have been given conditional approvals for launch, vaccinations will provide major hope of containing the disease. With the increasing number of people around the world receiving COVID-19 vaccinations, the Group's investment in Sinovac LS, the vaccine manufacturer, stands to make attractive return. The expansion of the centralized drug procurement scheme and its coverage has become a new normal in the domestic pharmaceutical industry, and consolidation in the industry will accelerate. Leading companies with a strong R&D capability, top R&D teams and product pipelines, leading technological platform, high technology barrier and the ability to produce new products continuously will enjoy distinct advantages. Noting the increasing importance of marketing and sales and service model that employs online platforms in the pharmaceutical industry, the Group has undertaken moves to keep abreast of these latest developments.About Sino Biopharmaceutical Limited (HKEX:1177)Sino Biopharmaceutical Limited is a leading, innovative R&D driven pharmaceutical conglomerate in the PRC. Its business encompasses a fully-integrated chain which covers an array of R&D platforms, a line-up of intelligent production and a strong sales system. The Group's products have gained a competitive foothold in various therapeutic categories with promising potentials, comprising a variety of biopharmaceutical and chemical medicines for treating tumors, liver diseases, orthopedic diseases, anti-infectious diseases and respiratory system diseases.Sino Biopharm is a constituent stock of the following indices: MSCI Global Standard Indices - MSCI China Index, Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng Composite Index, Hang Seng Healthcare Index, Hang Seng SCHK Mainland China Healthcare Index, Hang Seng Composite LargeCap Index, Hang Seng Composite LargeCap & MidCap Index, Hang Seng China (Hong Kong-listed) 100 Index and Hang Seng Stock Connect Hong Kong Index, etc.. Sino Biopharm was ranked as one of "Asia's Fab 50 Companies" by Forbes Asia for three consecutive years in 2016, 2017 and 2018. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Anacle Achieves Record Profit Before Tax of 491% in 1H FY2020, Turnaround Driven by Increased Investment in Smart Tech by Singapore’s Public Sector

HONG KONG and SINGAPORE, Jan 29, 2021 - (ACN Newswire) - Anacle Systems Limited ("Anacle" or the "Company" and together with its subsidiaries, the "Group"; GEM of SEHK stock code: 8353), which is an IT company offering smart energy, asset and estate management solutions for companies, towns and cities in Asia, reports a record jump in profit before tax of 491% for its first six months ended 30 November 2020 ("1H FY2020"). The turnaround to profit from a loss a year ago was supported by an increase in client base and the growth in investment on smart technology by the public sector in Singapore.The Group reported revenue of S$10.24 million which was a 26.7% increase from last year. This was boosted by the Group's software solution Simplicity, which saw a 54.8% or S$3.07 million in-crease in revenue. The Group derived a majority of its revenue from Simplicity, an enterprise soft-ware that offers specific solutions for municipal councils, commercial and corporate real estate man-agement firms, as well as industrial asset management. As compared to the same quarter last financial year, the Group has increased its customer base and Simplicity's order book was healthier this year. The Singapore market remained the major source of revenue for Simplicity. The overall increase in both maintenance services and project revenue re-sulted in an overall increase in Simplicity's revenue. The Group's pay-per-use utility revenue platform, myBill, reported number of subscriptions were sta-bilising in the hundred thousand of subscriptions each month. A one-off renewal rebate for myBill contributed to a temporary dip of 15.6% or S$142,557 in myBill's revenue. Subscription to myBill platform has been increasing steadily since its launch in June 2018. The Group expects that the number of subscriptions will continue to increase in the coming quarters due to Singapore's liberal-ised electricity market. Known as the Open Electricity Market, the liberalised electricity market in Singapore will mean that energy retailers will not know in advanced how many customers they can sign up. myBill platform offers energy retailers an economical and reliable utilities billing service to their customers on a pay-per-use scheme, saving energy retailers the need to invest in multi-million dollar billing software. Starlight, a cloud-based smart energy and water management platform, faced installation constraints due to the Covid-19 pandemic and as result, revenue from Starlight dipped by 56.6% or S$829,043. Recurring service and leasing revenue have increased as the existing customer base remained sta-ble. Meanwhile, subscriptions to SpaceMonster, an online portal that matches in-demand needs for meetings and leisure activities, continued to increase as more venues were coming onboard and achieved a 59.6% or S$58,223 increase in revenue. Gross profit of SpaceMonster remained healthy at 97.7%. The Group's overall gross profit increased by 28.5% to S$906,211 due mainly to an increase in rev-enue. Simplicity's gross profit was 38.4% as compared to 42.7% last year. myBill, currently in its third year of operations, reported that the number of subscriptions continued to increase and yielded a growth in gross profit of 37.3% from 28.3% last year. Commenting on the Group's 1H FY2020 results, Mr Alex Lau, Chief Executive Officer of Anacle said: "Our 1H FY2020 results is a testament of our corporate objective, which is to achieve sustainable growth for long-term shareholder value. The turnaround in being profitable is a starting point as we will continue to implement more stringent capital structure to ensure the Group contin-ues to have the financial strength and flexibility to meet our corporate objective. "With the focus on digitalisation for many enterprises and public section agencies due to the Covid-19 pandemic, the Singapore and Southeast Asian markets for enterprise application software re-main robust and are expected to grow throughout 2021. Thus, we expect Simplicity, myBill and SpaceMonster to continue to perform well. However, the situation with Starlight is much more com-plex. We continue to witness relentless push for wide scale Smart City projects throughout South-east Asia, however until the Covid-19 pandemic improves, constraints on site installations will con-tinue to pose a challenge, limiting short-term revenue." About Anacle Systems Limited Established in 2006, Anacle is a fast-growing IT company based in Singapore. Anacle offers enter-prise application software designed to assist commercial property and building owners in managing their real estate assets and facilities, including energy and water management.Besides researching, designing, developing and implementing software and hardware solutions, Anacle also provides updates, maintenance and after-sales support to its clients. Its products reach end-users across Singapore, Malaysia, China, and other parts of Asia, and across various industries including commercial real estate, education, healthcare, government, utilities, and oil and gas. Media contacts: Ang Shih Huei / Karen Yap Klareco Communications sang@klarecocomms.com / kyap@klarecocomms.com +65 9189 1039 / +65 8133 6201 Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com

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Shineway Pharmaceutical (2877.HK) recorded 29.4% revenue growth for October 2020

HONG KONG, Nov 30, 2020 - (ACN Newswire) - Shineway Pharmaceutical (stock code: 2877.HK) recorded 29.4% revenue growth for October 2020 in comparison with the same period last year, as sales of injection products, soft capsule products, granule products, TCM formula granules, and other dosage forms went up 38.9%, 17.4%, 38.1%, 7.9% and 54.0% respectively. Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com

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