Everbright Grand China Announces 2023 Interim Results

HONG KONG, Aug 29, 2023 – (ACN Newswire) – Everbright Grand China Assets Limited ("Everbright Grand China" or the "Group"; HKEX stock code: 03699), a subsidiary of China Everbright Group, principally engaged in the businesses of property leasing, property management and the sales of properties held for sale, announced its interim results for the six months ended 30 June 2023 ("Reporting Period").

During the reporting period, the Group recorded a revenue of approx. RMB22.1 million, represented a decrease of approx. RMB5.0 million compared with the corresponding period of last year (2022: RMB27.1 million), mainly due to the drop in the occupancy rate. Profit attributable to equity shareholders of the Company amounted to approx. RMB13.3 million (2022: RMB12.3 million), representing an increase of approximately RMB1.0 million as compared to the same period last year, mainly attributable to the rise in the valuation gains on investment properties. The basic earnings per share was approximately RMB0.03. (2022: RMB 0.03).

Property Leasing
As at 30 June 2023, the Group's property portfolio includes Everbright Financial Center, part of Everbright International Mansion and Ming Chang Building, which are located in Chengdu, Sichuan Province and Kunming, Yunnan Province, respectively, with a total gross floor area of approximately 89,507 (31 December 2022: 89,507) sq.m. During the reporting period, the average occupancy rate of the properties was approximately 73%. (2022: 86%). The Group generated a rental income of approx. RMB 16.2 million (2022: RMB 20.0 million), representing a decrease of approx. RMB 3.8 million as compared to the same period last year, mainly due to the drop in the occupancy rate.

Property Management Service
The Group has a professional property management team to provide management services to Everbright Financial Center and Everbright International Mansion to maximize the value of the properties. During the reporting period, revenue from the property management services was approx. RMB 5.9 million (2022: RMB 7.1 million), representing a decline of approx. RMB 1.2 million as compared to the same period last year, mainly due to the rise in the vacancy rate of the properties.

Investment Properties
As at 30 June 2023, the fair value of the investment properties was RMB 959.5 million (31 December 2022: RMB 954.1 million). For the six months ended 30 June 2023, the valuation gains on investment properties amounted to approx. RMB 5.4 million (2022: RMB 0.7 million), representing an increase of approx. RMB 4.7 million as compared to the same period last year.

As at 30 June 2023, the Group maintained cash and bank balances of approx. RMB224.0 million (31 December 2022: RMB214.9 million). The Group's gearing ratio, being measured by the Group's total liabilities over its total assets, was 19.0% (31 December 2022: 18.3%). The Group's liquidity position was well-managed.

During the reporting period, the Group's tenants, lease contracts, and occupancy rates have remained relatively stable. Although market fluctuations may persist in the second half of the year, we anticipate that with the stable business performance of our clients and the stability of our lease contracts, the occupancy rate has likely reached its bottom and will remain stable or gradually improve in the future, and the rental prices will also continue to stabilize.

Prospects
In the first half of the year, the Group's property leasing business was inevitably impacted by the series of unstable risks that still hampered the overall business environment, along with higher interest rates in the global market, the relatively subdued consumer sentiment in mainland China and the lack of significant pickup in the real estate market. However, leveraging the abundant cash reserves and absence of debt, the Group is well-positioned to capitalize on the high-interest rate environment to generate more interest income. Benefiting from the synergy created by the China Everbright Group and the popularity of the "Everbright" brand, the Group can maintain a friendly long-term cooperation that is mutually beneficial and creates a win-win situation that contributes to the stable growth of its leasing business. In the second half of 2023, the Group plans to continue expanding the scale of property management services and will pursue three key development strategies of increasing leasing activities, optimizing capital management, and exploring new investment opportunities. By increasing leasing volume and utilizing its funds prudently, the Group aims to achieve stable and robust investment growth.

Looking ahead, the central government remained committed to driving economic growth by introducing a series of revitalization policies, which are expected to stimulate the housing and rental markets and positively impact stabilizing the growth of the property management industry. Given the unstable international environment, the Group maintains a cautious approach towards acquiring overseas properties. On the contrary, should opportunities arise in mainland China, the Group will consider the acquisition of high-quality projects to diversify our business portfolio and generate long-term investment returns. Simultaneously, the Group will actively optimize and enhance our service quality and user experience to further strengthen our competitiveness and resilience, and strive to achieve long-term, stable and abundant profits for our shareholders.

About Everbright Grand China Assets Limited
Everbright Grand China Assets Limited, a subsidiary of China Everbright Group, principally engaged in the businesses of property leasing, property management, and sales of properties held for sale, owns, leases, and manages properties located in Chengdu, Sichuan province, and also owns and leases a property located in Kunming, Yunnan province. The properties are located in the city of Chengdu and Kunming, the key cities of western China. The property portfolio comprised three commercial properties, namely Everbright Financial Center, part of Everbright International Mansion and Ming Chang Building.

For further details regarding to Everbright Grand China Assets Limited, please visit its website at https://ebgca.com.hk/.


Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Dynasty Fine Wines Revenue for 2023 1H Increases by 27% to HKD$128.2 Million

HONG KONG, Aug 29, 2023 – (ACN Newswire) – Dynasty Fine Wines Group Limited ("Dynasty" or the "Group") (Stock Code: 00828), a premier grape winemaker in China, today announced its unaudited interim results for the six months ended 30 June 2023.


During the period, the sales, especially in the middle-end wine products, were recovered, as a result of the normalization of consumption scenes and the resumption of consumer sentiment in Mainland China after the dismantlement of pandemic control measures at the end of last year. Therefore, in the first half of 2023, the Group's revenue increased by 27% to HK$128.2 million, compared to the same period last year, whereas profit attributable to owners of the Company remained at HK$10.7 million. Gross profit margin decreased to 37% from 40% in the first half of 2022, as material costs and delivery charges increased during the period.

Benefiting from the resumption of consumption scenario such as banquets and gatherings nationwide, sales of red wine products grew well over the period, reaching the sales level of white wine products. Both red and white wine products served as the Group's major revenue contributors, each accounting for approximately 48% of the Group's revenue for the period. Gross margin of red wine products and white wine products were 31% and 45% respectively (2022 1H: 35% and 44% respectively).

The Group produces a wide range of more than 100 wine products under the "Dynasty" brand. It has been actively pursuing innovation, creating the most competitive products, and embracing the "5+4+N" product strategy. The Group's "5" key series of products comprise the air dry series, seven-year reserve series, merlot series, classic series and best-selling series, which cover fully the price range of mainstream markets, whereas the "4" advantageous product categories include dry red wines, dry white wines, brandy and sparkling wines, which enlarge vertical market shares for the Group. Furthermore, the Group boasts the development of "N" kinds of customized products to meet the diversified needs of Chinese consumers.

With China chic on the rise, the Group has launched the "China Chic" series, a series of new high-end products, to further strengthen the recognition of the Dynasty brand and attract mainstream consumer groups fancying China-made products and China chic. The flagship product of this series is the "Dynasty Chinese Zodiac Commemorative Dry Red Wine for the Gui Mao Year of Rabbit," which integrates high quality with Chinese zodiac culture, resonating with Chinese consumers' cultural confidence. Additionally, to satisfy the needs of customer groups with different consumption habits, the Group has launched the Dynasty NIANHUA series, priced between RMB100 and RMB500. Furthermore, with leading and well-proven technologies it has developed, the Group carried out a comprehensive upgrade of production techniques and packaging design of its Golden Dynasty products.

In addition, the Group sold chateau wines imported from France and other foreign-branded wines in China through the Group's existing distribution network. In that way, the Group introduced classic "old world" and "new world" varietals to cater to the consumer group preferring the taste of foreign premium wines.

The Group's overall business potential has been enhanced through online platforms. On one hand, the e-commerce team of the Group comprehensively operated online stores itself on traditional e-commerce platforms, such as JD.com, Tmall and Pinduoduo for product sales. On the other hand, the Group made comprehensive innovation on its brand, product categories, business systems, procedures and models via new retail platforms, including East Buy, RED, Kuai and TikTok. These efforts facilitated the Group's autonomous brand communications so that it could enhance effective market penetration of the Group's products in the young consumer group. Meanwhile, the e-commerce team also actively cultivated e-commerce live broadcasting talents to expand its sales channels further and establish a new customer base. The Group continues putting resources into the improvement of the online sales channels and optimisation of the online stores' interface. During the period, the e-commerce sales grew significantly and reached the level of the whole year of 2022.

Production of quality wines greatly depends on the sufficient supply of quality grapes or grape juice. Currently, the Group has more than 10 major grape juice suppliers with whom the Group has enjoyed long-term relationships, mainly located in Tianjin, Hebei, Ningxia and Xinjiang. To ensure reliable supplies of quality grapes and grape juice, the Group continues to actively work with vignerons and equip their vineyards with state-of-the-art techniques for assuring quality. During the period, the Group also enhanced its industrial footprint, and procured quality grapes and grape juice from premium vineyards through setting up subsidiaries in Ningxia and Xinjiang, so as to raise the supply of the Group's products.

Mr. Wan Shoupeng, Chairman of Dynasty, concluded, "Looking ahead to the second half of 2023, Dynasty will kick off the development of the first phase of a winery near the Eastern foot of Helan Mountain in Ningxia, named TianXia Winery. The winery will integrate pressing, fermentation, processing, testing and research and development as a whole, with an annual production and processing capacity of 5,000 tonnes. It will become a new business growth driver of the Group and help to perfect the regional layout for the Group's grape wines. The Board currently remains cautiously optimistic on the business in the second half of 2023. It will continue to focus on product quality, reshape the consumption scene and guide market consumption, in order to create Dynasty as the representative brand of China's grape wines and Dynasty grape wines as the most signature products."

About Dynasty Fine Wines Group Limited
Dynasty Fine Wines Group Limited was listed on the Main Board of The Stock Exchange of Hong Kong Limited with the stock code 00828 on 26 January 2005. Founded in 1980, Dynasty is the premier grape winemaker in China. It is principally engaged in the production and sale of grape wine products under its reputable "Dynasty" brand. Dynasty is the first Sino-foreign joint venture wine company in China with Tianjin Food Group Limited and the French grape wine giant, Remy Cointreau, as its major shareholders. The Group produces and sells more than 100 grape wine product series, and introduces imported wine products, providing high-quality and value-for-money grape wines to the full range of consumer groups in China.


Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Flojoy Announces $1.3M in Seed Capital From Flybridge Capital Partners, Boreal Ventures, and BDC Capital

MONTREAL, QUEBEC, Aug 29, 2023 – (ACN Newswire) – Today, Flojoy announces an oversubscribed seed round of $1.3 million USD from Flybridge Capital Partners, Boreal Ventures, and BDC Capital to disrupt the test, measurement, & control (TMC) market with its open-source, Python-based AI software. TMC is the bedrock of every research and development "hard-tech" laboratory and software enterprise. Over the past century, there would have been zero applied science and manufacturing progress without the invention of the computer and its application to sense and control physical spaces. Now, TMC UX will undergo a renaissance, building off of the last decade of open-source software innovation.


"Test, measurement, and control (TMC) has been absolutely fundamental to every industrial manufacturing breakthrough, but the software has been in the relative dark ages," said Jack Parmer, Founder and CEO of Flojoy. "Today's scientists, engineers, data scientists and business analysts deserve better and no-code software to scale efficiently."

Test, measurement, and control (TMC) and artificial intelligence (AI) are natural bedfellows. While TMC is concerned with sensing and responding to data from the physical world, AI is concerned with using vast troves of data to refine machine learning (ML) models for domain-specific mastery. Already, resourceful scientists and engineers are applying foundational ML models to textbook TMC use cases in every field: microscopes that ship with automatic object identification, computer-vision cobots that perceive and respond to their environments in real time, and oscilloscopes that learn to predict signals.

"Flojoy is applying the open-core/open-source model to software for heavy industry and deeptech. We're thrilled to watch them accelerate the world's largest R&D institutions with this approach – just like Jack and his team did at Plotly," said Hassan Bhatti, Partner at The Community Fund, a Flybridge Network Fund.

Prior to founding Flojoy, Jack Parmer led the creation of Domino Data Lab's Code Assist, a low-code capability to democratize advanced analytics using Python and R.

"Since founding Plotly, Jack Parmer has been an unstoppable moving force in scientific Python," said Nick Elprin, CEO and co-founder of Domino Data Lab. "I'm excited to see him continue to expand cutting-edge options to build and operate AI at scale."

At age 26, Parmer founded Plotly, the de facto interactive data visualization software for scientists working in Python and R, where he led the company as CEO through $18M in fundraising, $10M in annual recurring revenue, and created the "python code to web app" category, growing virally to 200 million software downloads under his tenure. Plotly helped to modernize numerical computing by making one of its pillars (data visualization) free, interactive, exceptionally well documented, and more complete in capabilities than most scientific charting software before it.

"With Plotly, Jack created a highly successful open-source data science company. The test, measurement, and control space is important to our fund and our portfolio companies, and we're excited to partner with Jack and his team on their next open-source chapter, Flojoy," said Charles Lesperance, Partner at BDC Capital's DeepTech Fund.

Flojoy intends to use the seed investment to hire more engineers to build out first-class Python support for over 700 benchtop scientific instruments and microcontrollers, which will usher in a new era of open-source TMC standardization. Its first major customer is a U.S. electric aircraft manufacturer. Heavy industry and hard-tech titans like Hitachi, Ford, Boeing, SpaceX, Intel, and Medtronics are all essentially TMC companies at their core and Flojoy hopes to help.

With Plotly, Jack has shown his ability to foresee fundamental trends in the open-source community, hire world-class talent, and build what is now a pillar in the Python community. Floyjoy expands on the same traits that made Plotly a success, in what we believe is a market ripe for innovation," adds David Charbonneau, Managing Partner at Boreal Ventures.

About Flojoy

Flojoy provides no-code, open-source, Python-based AI software for the test, measurement, & control (TMC) market. The Flojoy Studio is a drop-in replacement for engineering software such as LabVIEW, Simulink, RapidMiner, and Alteryx. Learn more at https://www.flojoy.ai/.

Download & Quickstart: https://docs.flojoy.ai
Friendly help: https://community.flojoy.ai
Demo videos: https://www.youtube.com/@flojoy_ai
Student Ambassador Program: University students only
Media contact: media@flojoy.io
Press kit: https://docs.flojoy.ai/press-kit

Contact Information
Lauren Burke
Media Relations
media@flojoy.io

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Baguio Green’s Adjusted Net Profit* in 1H2023 increased by 3.5 times

HONG KONG, Aug 29, 2023 – (ACN Newswire) – Baguio Green Group Limited ("Baguio" or the "Group", Stock Code: 01397.HK) is pleased to announce its unaudited interim results for the six months ended 30 June 2023 (the "Period"). During the Period, revenue was approximately HK$1.11 billion, representing an increase of approximately 55.0% as compared with the same period last year, mainly due to the increase in the Group's cleaning, waste management and recycling businesses during the Period. Profit for the Period was approximately HK$21.7 million, representing an increase of approximately 27.0% as compared with the same period last year. Adjusted net profit* was HK$21.3 million, representing an increase of approximately 352.0%, as compared with the same period last year. Gross profit margin was 7.8%.

Business Overview and Prospects

In the first half of 2023, new contracts awarded to the Group amounted to a total of HK$2.04 billion. As a result, the Group recorded a historical high for its contracts on hand of approximately HK$4.56 billion (as of 30 June 2023), representing an increase of approximately 27.0% from approximately HK$3.59 billion as of 31 December 2022, providing strong revenue growth in the second half of 2023 and the subsequent years.

The Group's core business, cleasing services, recorded significant growth in the first half of 2023. Revenue from cleaning services increased by 72.8% to approximately HK$861.5 million, accounting for 77.8% of the Group's total revenue during the Period. During the Period, the Group secured a number of new contracts with a total amount of approximately HK$1,780 million.

The Group's street cleaning services cover a total of eight districts in Hong Kong (Tsuen Wan, Mong Kok, Sha Tin, Yuen Long, Western, Eastern, Sham Shui Po and Tai Po districts), serving a population of approximately 3 million, marking Baguio's leading position in the Hong Kong cleaning services market. The Group's cleaning business cover a wide range of different places, such as airports, sports venues, hospitals, parks, markets, schools, housing estates, and private institutions, demonstrating the Group's strong execution capabilities.

In terms of waste management and recycling business, the Group provided waste collection services to five districts during the Period, including Tsuen Wan, Wong Tai Sin, Mong Kok, Wan Chai and Eastern districts, serving a population of approximately 1.6 million. The Group is contracted by the Environmental Protection Department ("EPD") to handle around 5,000 recycling spots (including plastic, glass bottles, metals and waste paper) across Hong Kong. During the Period, Baguio continued to provide plastic collection services for three districts (Eastern, Kwun Tong and Central & Western) under the EPD Plastic Recycling Pilot Scheme contract. Baguio also provides plastic collection services for Recycling Stations of "GREEN@COMMUNITY" and Reverse Vending Machines, which were introduced by EPD and other institutions in Hong Kong. In addition, the Group also provides collection and management services of glass bottles for Hong Kong Island, the New Territories and Islands District.

During the Period, the Group made impressive progress in providing the Government with Smart Recycling Machines ("SRMs") and a Big Data Analytics Platform. SRMs are now available in different places of Hong Kong, providing the public with a convenient recycling experience 24 hours a day and helping to increase the overall recycling volume in Hong Kong. The Government is proactively considering to increase the number of SRMs to meet the huge demand for recycling arising from the launch of the "Municipal Solid Waste (MSW) Charging Scheme" in April next year.

During the Period, the Group was awarded a contract by the Food and Environmental Hygiene Department of the Government for the provision of people counting services servicing at over 800 public toilets, aqua privies and bathhouses through the system powered by Time-of-flight and Internet of Things technologies to assist the Government in monitoring flow and optimising service standard.

Last year, the Group was awarded EPD's first contract for using bioconversion technology (Black Soldier Flies) to help solve Hong Kong's chicken manure problem. The project has commenced production. The Group is actively exploring the application of bioconversion technology to food waste, so as to capture enormous business opportunities.

With regard to recyclable food waste collection services, the Group provides recyclable food waste collection services in Kowloon District and New Territories West. Among the total four EPD's similar contracts granted by EPD, the Group has secured half of them, highlighting Baguio's position as Hong Kong's market leader in food waste collection.

For the landscaping services, the Group was awarded a professional tree transplanting contract for the Urban Council Centenary Garden during the Period. In addition, the Group also provides landscaping services to the Hong Kong University of Science and Technology, the Hong Kong Science Park, the Government and a wide range of private clients including shopping malls, hotels and large private residences. For pest management business, during the Period, the Group won pest management service contracts for a number of tertiary institutions, including the University of Hong Kong, the Hong Kong University of Science and Technology and Lingnan University.

Meanwhile, since the launch of ESG+ last year, Baguio has helped clients of different listed companies to promote the "Environmental, Social and Governance" policies, enabling customers to use the Group's sustainable environmental services while supporting green procurement to achieve a circular economy.

Mr. Ng Wing Hong, Chairman of Baguio, commented, "Among the contracts on hand, approximately HK$1.15 billion is expected to be recognised as revenue in the second half of 2023. Adding this figure to the revenue for the first half of 2023 (approximately HK$1.11 billion), we can see strong revenue growth compared to the revenue for last year (2022 revenue: approximately HK$1.79 billion).

Looking forward, with the implementation of the MSW Charging Scheme and the "Producer Responsibility Scheme on Plastic Beverage Containers", it is expected that the recycling market will grow by 2 to 3 times in 3 years. This will directly drive the growth of Baguio's recycling business. The Group expects that the recycling business will become one of its growth drivers. After strategic deployment in recent years, the green technology business achieved remarkable results during the Period. Baguio continued to offer smart city, Internet of Things, big data, AI and biotechnology solutions, and expects its green technology business to become one of the future growth engines. The Government has actively promoted the construction of the Northern Metropolis and Lantau Tomorrow in recent years, which is expected to bring business opportunities to the Group. In the future, the Group will continue to adopt a number of innovative and digitized technologies to enhance and optimize its existing services, increase productivity and further expanding the market share of the Group's businesses, while actively exploring suitable mergers and acquisitions, joint ventures or new business projects in Hong Kong and beyond to accelerate the growth and deliver substantial and long-term returns to shareholders."

For details of the Group's 2023 interim results announcement, please visit the following website:
http://www.baguio.com.hk/en-US/Investor%20Relations/Announcements%20and%20Notices

* Net profit excluding government grants and subsidies

About Baguio Green Group
Established in 1980, Baguio Green Group (Stock code: 01397.HK) is one of Hong Kong's largest integrated environmental services groups. It provides a full spectrum of professional services including professional cleaning, waste collection & recycling, waste management, green technology, organic fertilizer and animal feed production, horticulture & landscaping, and pest control. It serves a wide range of customers in various sectors including Government departments, statutory organizations and multinational corporations. Fully committed to ESG, the Group works relentlessly to advance sustainable development and create a cleaner, greener, healthier city.


Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Weilong announced 2023 Interim Results

HONG KONG, Aug 29, 2023 – (ACN Newswire) – Weilong Delicious Global Holdings Ltd ("Weilong" or the "Company") (Hong Kong stock code: 9985.HK) announced its unaudited interim results for the six months ended 30 June 2023 (the "Reporting Period").



As the impact of the Covid-19 gradually wanes, the consumption scenarios are constantly improving, and the consumption conditions are constantly getting better. China's economy is steadily recovering and returning to normal operations. As a leader and pioneer in the spicy snack food industry in China, Weilong is not only dedicated to enhance research and development ("R&D") capabilities, intensively cultivate existing product categories and expand product portfolio but also actively explored the snacks specialty retailer channel, expanded the nationwide sales and distribution network and deepening development of online channels, through youth-oriented brand marketing to enhance interaction with young consumers and establish closer connection with consumers.

Weilong's performance was solid during the Reporting Period, recording a revenue of RMB2,327.3 million, representing a year-on-year (YoY) increase of 3.0%, primarily due to (i) the Group making structure adjustments to its main products and upgrading its operations in the Previous Year, initial results in the Reporting Period have been achieved due to these adjustments and upgrades; (ii) a drop in the consumer flow of offline traditional channels and channels of hypermarkets and supermarkets during the Reporting Period and (iii) an increase in the average selling price resulted from the Group's structural adjustment of main products in the Previous Year, which was partially offset by a decrease in the sales volume of the products. Gross profit increased by 28.4% YoY to RMB1,106.2 million and gross profit margin improved to 47.5% from 38.1% in the same period last year, mainly due to (i) an increase in the average selling price resulted from the Group's structural adjustment of main products in the Previous Year; (ii) a decrease in the price of raw materials during the Reporting Period; and (iii) the optimization of the Group's cost management by streamlining production process continuously. Net profit of RMB447.1 million was up 271.4% YoY. Adjusted net profit increased by 17.0% YoY to RMB497.0 million and adjusted net profit margin improved to 21.4% from 18.8% in the same period last year mainly due to the increase in gross profit.

Based on the Group's surplus and overall financial conditions, the Board has resolved to the distribution of an interim dividend of RMB0.12 (tax inclusive) per share, representing approximately 60% of the net profit of the Group for the Reporting Period. The dividend is expected to be paid on or about October 12, 2023.

During the Reporting Period, on the product side, the Group adhered to the strategy of "multiple categories and large single product", continued to expand our product portfolio through years of research and development and innovation to respond to changing market conditions and consumer preferences quickly.

In terms of channel, Weilong continued to strengthen the offline sales strategy of "sales support and sales assistance" to further enhance the coverage and the execution quality of POS. With the quick rise of the new channel of snacks specialty retailers across China, the Group actively launched customized products targeting this new channel of snacks specialty retailing in the hope of seizing the development opportunities brought by such new channel more effectively.

On the branding front, the Group continuously strengthens brand building through brand activities centering around young consumers and conducts consumer research and interaction to actively explore improvements of brand awareness and reputation, combined with in-depth online content marketing to enhance user engagement, so as to provide consumers with better product experience.

Mr. Liu Weiping, Chairman of the Board of WEILONG, commented, "In the face of the diversified changes in the sales channels of China's snack food industry, new channels such as snacks specialty retailers and content e-commerce platforms are continuing to increase in traffic. Weilong will actively embrace the development opportunities brought by new channels with a more proactive and open mindset. At the same time, the Group will continuously strengthen product building and brand building, refine and improve the Group's product portfolio and the Group's brand awareness and reputation. The Group will continue to consolidate its manufacturing capabilities and R&D capabilities, enhance organizational capabilities and the construction of digital intelligence to improve its overall operational efficiency and consumer experience. Finally, the Group will stay true to its original aspiration and mission, striving to maximize returns for consumers, clients, shareholders, investors, employees and the society."

About Weilong Delicious Global Holdings Ltd
WEILONG Delicious Global Holdings Limited ("WEILONG") is an all-in-one spicy snack products enterprise, leading in the research and development, production, processing, and sales of spicy snack foods in China. With strong growth momentum and a highly influential brand, WEILONG has been committed to transforming the traditional food into a more entertaining, casual, and convenient format that is also affordable. Since pioneering the first spicy snack in 2001 and leading the construction of industry standards to this day. Our goal is to create delicious casual food and enjoyable consumer experiences for our customers. With its outstanding "multiple categories and large single product" strategy and category expansion capabilities, WEILONG has successfully expanded into categories such as vegetable products, bean products, and other products, launching single products such as "Konjac Shuang", "Fengchi Kelp", and "78 Degree Celsius Braised Eggs". WEILONG is a popular snack food brand among young Chinese consumers and has won several marketing awards. In 2023, WEILONG won the "Top Digital Innovation Marketing Award – Content E-commerce Special Award" and "The 14th Tiger Roar Awards – Social Media Marketing (Bronze)". For more information, please visit https://www.weilongshipin.com/


Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Academic Labs Unveils Its Cutting-Edge Edtech Platform, Revolutionizing the Education with AI and Crypto

SINGAPORE, Aug 29, 2023 – (ACN Newswire) – Today, Kingston Kwek, CVO (chief visionary officer) of Academic Labs, announces the launch of their cutting-edge platform, which will revolutionize the traditional models of teaching and learning via AI, crypto and Blockchain technology.

The Visionary behind Academic Labs’ EdTech Revolution

Kwek’s vision for Academic Labs finds its roots in the global shift towards online education during the Covid-19 pandemic. As schools around the world closed their doors and education moved to virtual platforms, Kwek recognized an opportunity to reshape the educational landscape.

“Unlike a traditional classroom with teachers in person who are constrained by both manpower and classroom infrastructure, online platforms allow for scalability, with potentially millions of students able to access it cheaply and simultaneously across borders,” Kwek elaborated.

Digging deeper into the blueprint of Academic Labs, Kwek shed light on the critical factor of course content. The platform aims to provide an immersive learning experience in AI, crypto, and blockchain technology – fields that are currently igniting the tech landscape with their disruptive potential. The curriculum of Academic Labs is designed to offer a comprehensive exploration into the trending technologies of our time. Students can expect to dive into a wide variety of topics, from Ethereum and Stablecoins to popular Altcoins like Doge, Shiba, and Cardano. Moreover, the platform aims to provide an in-depth understanding of AI applications.

“In our mission to provide a well-rounded education in these fields, we have designed modules on ChatGPT and its various applications, along with other AI applications. We also delve into Ethereum, NFTs, Stablecoins, and selected Altcoins such as Doge, Shiba, Cardano, Polkadot, Litecoin, Sandbox, Solana, among others,” Kwek detailed, offering a glimpse into the rich learning journey that Academic Labs is set to offer.

Potential to Transform the Education Industry Using Web3 Technologies

When asked about the potential of Web3 technologies to transform education sector, Kwek painted a compelling picture of a future where Web 3.0 is at the helm. “Students worldwide could utilize virtual metaverse spaces for more interactive and immersive learning experiences, accessing information faster and cheaper, even when geographically isolated,” he envisioned. “Their unique educational experiences and preferences could be recorded in a blockchain-stored digital wallet, enabling personalized course customization.”

“The course content is in sync with the pulse of the current technological era,” Kwek asserted. “We have designed it in a modular format, in the form of easily digestible and engaging videos.” Kwek emphasized that Academic Labs’ platform has been meticulously crafted to appeal to the broadest audience possible. He said, “The content is primarily tailored to the younger generation, those in their 20s to 40s. However, we’ve also extended our reach to include older individuals and ambitious teenagers.” This inclusive approach, he believes, will be a significant factor in the platform’s success.

Kwek emphasized the importance of community engagement metrics, such as those visible on platforms like Telegram and Twitter, for the success of Academic Labs. “A robust online presence, particularly in terms of user numbers and followers, is crucial for the platform’s success. Factors like word-of-mouth spread, increased user numbers, and effective sales and marketing strategies will fuel the growth of our user base and followers,” he outlined.

In the digital age, Kingston Kwek’s ambitious vision positions Academic Labs as a potential game-changer in the EdTech revolution. Harnessing the power of AI, crypto, and blockchain technologies, Academic Labs aims to redefine education, potentially impacting millions of students across borders, regardless of their prior exposure to these technologies. The platform’s strong emphasis on accessibility, scalability, and quality content, coupled with Kwek’s strategic insights, augurs a promising reimagining of the future of education.

About Kingston Kwek

Kingston Kwek is an seasoned crypto and tech investor in the industry. Leveraging his business networking, cryptocurrency and tech investing experience and an outstanding intellectual background with degrees from Columbia, Wharton and the University of Pennsylvania, Kingston has invested in multiple Web3 technology and AI sectors, including Academic Labs, the leading EdTech tech company, He is also the CVO (chief visionary officer) of Academic Labs.

About Academic Labs

Academic Labs is developing an AI WEB 3 Education platform that uses its native token ACAD to incentivize content developers to create fun gamified learning content, quizzes and videos focusing on learning English and Blockchain knowledge/programming. Good quality content developers can monetize their work using PUBLISHER NFTS and achieve REPUTATION NFTs from users’ feedback on their work.

Media Contact

Brand: Academic Labs

Contact: Terry Tan

Email: Terry@academic-labs.org

Website: https://academic-labs.org

SOURCE: Academic Labs



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HKTDC Hong Kong Watch & Clock Fair, Salon de TE open in September

HONG KONG, Aug 29, 2023 – (ACN Newswire) – The 42nd HKTDC Hong Kong Watch & Clock Fair and 11th Salon de TE – jointly organised by the Hong Kong Trade Development Council (HKTDC), Hong Kong Watch Manufacturers Association Ltd and The Federation of Hong Kong Watch Trades and Industries Ltd – is set to welcome more than 700 global exhibitors from 17 countries and regions. Under the EXHIBITION+ hybrid mode, the physical fair will run from 5 to 9 September at the Hong Kong Convention and Exhibition Centre (HKCEC). Salon de TE will open its doors to both industry buyers and the public on the final two days (8 and 9 September). From 29 August to 16 September, exhibitors and buyers from across the world can engage in online and offline meetings through the AI-powered Click2Match smart business-matching platform.
Introducing highlights of the fairs at a press conference today are Sophia Chong, HKTDC Deputy Executive Director (centre), Stanley Lo (R) and Amy Chow (L), Co-chairmen, HKTDC Hong Kong Watch & Clock Fair Organising Committee 2023


Watch and clock industry outlook improves

The globally renowned Hong Kong Watch & Clock Fair has consistently served as an effective platform for the industry to secure orders and establish business connections. Sophia Chong, HKTDC Deputy Executive Director, said: "Last year, Hong Kong's total export value of watches and clocks reached almost HK$54.8 billion (US$7 billion). From January to July this year, the export value amounted to HK$31.62 billion. Meanwhile, Hong Kong remains the world's largest wristwatch import market and the second-largest wristwatch export market, following Switzerland. The watch and clock export index has risen from 47.5 in the first quarter to 48.8 in the second quarter, indicating improved sentiment among Hong Kong's watch and clock exporters.

Sophia added that the HKTDC has been committed to bringing new elements to the fairs. Hong Kong Watch & Clock Fair exhibits are more diversified this year to serve changing industry needs. This year also welcomes a first-time exhibitor from Greece and Dubai, and will feature Guangdong, Guangzhou and Taiwan pavilions, hoping to create business opportunities for the industry."

Showcasing Chinese design excellence

Salon de TE, dedicated to showcasing internationally renowned watch brands, will feature five thematic zones: World Brand Piazza, Chic & Trendy, Craft Treasure, Renaissance Moment, and Wearable Tech. These zones will present more than 130 prominent watch brands and designer collections from France, Switzerland, Italy, the United States and more.

The debut Guo Chao theme welcomes several remarkable mainland watchmakers. They will showcase timepieces that intricately blend Chinese cultural elements. Ma XuShu is a highly respected independent watchmaker from Mainland China and an Academie Horlogere Des Createurs Independants (AHCI) member. He will present his masterpiece Starry Night wristwatch, a silver-award-winning timepiece at the 1st China (Blue Light Cup, Zhangzhou) Watch Design Competition. The watch features a dial with a retractable pointer indicating both hours and minutes, while the back depicts the starry night sky over Beijing, with "Beijing starry sky" engraved. Another watchmaker Wei Guang Wen will showcase Guangzhou clocks, a timepiece of historical, cultural and artistic value. Inspired by the classic Guangzhou clocks style from the Qianlong period (mid-to-late 18th Century), the clock features three sub-dials and chimes every hour, accompanied by various rotating designs, making it a truly timeless piece.

Exquisite craftsmanship from independent Swiss watchmakers

Swiss Independent Watchmaking Pavilion (SIWP) and Franceclat are returning this year, together with a debut by the International Luxury Group, presenting a range of Swiss and international watch brands, including H992, Pilo & Co, Adriatica, Epos and Ollivier Saveo, showcasing unique designs and delicate artisanship. The H992 was founded by Thierry Heiniger with H representing the spirit of hours and humanism, while 992 is the altitude of La Chaux-de-Fonds, birthplace of the brand, at 992 metres above sea level. The collection will be available in a 992-piece limited edition. Amarildo Pilo, another Swiss watchmaker, will present Pilo & Co, unveiling the Extraneo series. The hand-length changes with the indication of minutes or hours, a patented design.

World Brand Piazza – luxury showcase

Sponsored by Prince Jewellery & Watch for the 13th consecutive year, the World Brand Piazza remains a fair highlight. This year it will feature an impressive lineup of 10 international watch brands, including Bovet, Carl. F Bucherer, Corum, CVSTOS, DeWitt, Franck Muller, Jacob & Co., Kerbedanz, Parmigiani Fleurier and Sarcar Geneve. The zone will showcase an exclusive selection of luxurious and rare timepieces. Bovet, a Swiss brand, presents the Recital Grand Recital Tourbillon timepiece, which features a celestial display resembling an astronomical instrument showing the sun, moon and earth. Priced at HK$4.959 million, just 60 pieces are available. Jacob & Co., in collaboration with the French sportscar brand Bugatti, introduces the Jacob & Co. X Bugatti Chiron Tourbillon timepiece. The movements of this watch, meticulously designed over a year, comprise 578 components and simulate the operation of a sportscar engine, priced at HK$3.2 million.

Wearable tech, classic to fashionable elements

At Salon de TE, Wearable tech zone this year has tripled its exhibiting area compared to 2019, displaying a series of smart watches and the latest technology brands, including Microwear, DTNO.1, DO and MYZI etc.

Other international timepiece brands will present wristwatches of different styles and personalities. Highlighted timepieces include:

– Swiss brand ROMAGO launches its collaboration with Snoopy for this season with the Bluebird's Egg Blue Rotating Disc Watch.
– A limited-edition Mermaid Tourbillon by Hong Kong brand Memorigin, with just 100 pieces worldwide. The watch has a hollow design that reveals the sea-blue ripple pattern, highlighting the oceanic theme.
– First-time exhibitor King-Wear from Mainland China will feature one-touch Bluetooth pairing for calls, built-in music and video playback, body identification sensors and more than 100 sports modes.
– Young watchmaker Ricky, cultivated by Hong Kong brand ANPASSA, has made his own tourbillon, a creative work described as a 15-year-old dream.

Pageant of Eternity showcases high-end OEM and ODM watches

The Hong Kong Watch & Clock Fair includes eight zones. The Pageant of Eternity zone showcases OEM and ODM high-end complete watches. Other product zones cover clocks, machinery and equipment, parts and components, packaging, and trade services.

Scan2Match, EXHIBITION+ expands networking opportunities

In addition to EXHIBITION+, the fair will also launch the Scan2Match function, which brings communication from offline to online. Buyers can use the HKTDC Marketplace app to scan exhibitors' QR codes during the exhibition period, bookmark their favourite exhibitors, browse product information and the e-Floor plan, and continue to chat with exhibitors online during or after the exhibition period, extending their sourcing journey.

Forums, seminars, watch parades and networking events will provide first-hand market information. At the Hong Kong International Watch Forum on 5 September, watch association representatives from all over the world – including Mainland China, France, Germany, Japan, Korea and Switzerland – will discuss the global trade situation and industry trends.

Global market research agency Euromonitor International will discuss sustainable watch design development around this year's theme Shaping the Future Watch: The Next Design Trends at the Asian Watch Conference on 6 September. Zhang Jianmin, the founder of the renowned watch brand CIGA Design, and Ollivier Savelli, a Swiss Independent Watchmaker, are invited to share their design inspirations and experience in watch design, delving into the latest trends and future directions of watch design.

On the same day, Noel Wong, a watch collector, and William Bai, a watch culture expert and founder of Watch Traveler, will discuss affordable luxury watch prospects, a hot topic among celebrities.

To cultivate a new generation of watch designers and technical talents and promote the innovation and development of watch design, the HKTDC, Hong Kong Watch Manufacturers Association Ltd and Federation of Hong Kong Watch Trades & Industries Ltd jointly organise the 40th Hong Kong Watch & Clock Design Competition. The competition has two categories – The Beauty of Perspective for the Open Group and Game Code for the Student Group. Artist Jessica Hsuan was invited as a guest judge this year. Award-winning works and finalists will be exhibited during the Watch & Clock Fair, and the award ceremony will be held on 9 September at the Infinite Galaxy in Hall 3FG of the fairground.

Interesting events, lucky draws, shopping discounts

Salon de TE will be open to the public aged 12 and above on 8 and 9 September. Exciting activities will include watch parades, watch and painting demonstrations, embroidery watch crafts, product launches and more. Visitors can participate in lucky draws, with prizes including luxury watches, fashion accessories, dining vouchers and more. They can also join Smart Bidding to bid on their desired watches starting at as much as 90% off the retail price. Some exhibits will be available for on-the-spot sale.

In addition, Asia's premier fashion event CENTRESTAGE will be held from 6 to 9 September at the HKCEC, assembling designer brands from around the world to create synergies. Visitors can view the latest products of more than 350 watch and fashion brands at the same time.

Export performance of Hong Kong watches and clocks:

2022 (total value) | Change year on year | Jan-July 2023 (total value) | Change year on year
HK$54.78 billion | -8.4% | HK$31.62 billion | -1.6%

Websites:
– Hong Kong Watch & Clock Fair: https://www.hktdc.com/event/hkwatchfair/en
– Salon de TE: https://www.hktdc.com/event/te/en
– Photo download: http://bit.ly/3qNvBvn

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries
Please contact the HKTDC's Communications & Public Affairs Department:
Frankie Leung, Tel: +852 2584 4298, Email: frankie.cy.leung@hktdc.org
Agnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SCIB Reports Q4FY2023 Financial Results with Revenue of RM33.3 Million, Gross Profit of RM6.5 Million and Highlights Growth Opportunities

KUCHING, MALAYSIA, Aug 29, 2023 – (ACN Newswire) – Industrialised building systems specialist, Sarawak Consolidated Industries Berhad (SCIB), is delighted to announced its financial results for the fourth quarter of fiscal year 2023 (Q4FY2023), reflecting a positive growth trajectory across key financial metrics and strategic business segments.
Ku Chong Hong, Managing Director of SCIB


Revenue for the quarter reached RM33.3 million, a 27% increase from RM26.3 million in Q4FY2022. Gross Profit grew by 73% to RM6.5 million from RM3.8 million in the corresponding period of the previous fiscal year. The Operating Loss was significantly reduced to RM18.2 million from RM47.1 million, and Loss Before Tax (LBT) improved to RM18.5 million from RM47.4 million in Q4FY2022.

In the Manufacturing segment, SCIB reported revenue of RM23.2 million, a year-to-date increase of 10%, with profit before tax of RM2.8 million. The Construction/EPCC segment registered revenue of RM10.2 million, marking a 92% increase year-to-date, with loss before tax narrowed to RM4.5 million. The growth in revenue and profitability across key segments was driven by increased sales volume of foundation piles and the kick-start of two new school projects.

"In the challenging business environment, SCIB has demonstrated resilience and adaptability, successfully navigating the market dynamics," said Mr. Ku Chong Hong, Managing Director of SCIB. "Our growth this quarter reflects our focus on core capabilities in Engineering, Procurement, Construction, and Commissioning (EPCC) and our ability to supply crucial building materials. The future outlook for SCIB is robust, built upon a comprehensive understanding of the broader economic environment. We are well-positioned to seize growth opportunities in the domestic construction industry and benefit from strategic initiatives and prudent financial management."

SCIB's proactive engagement in securing small-to-mid-sized construction projects, Sarawak's construction sector upswing, and the positive view of China's recent RM170 billion investment commitment pave the way for enhanced growth opportunities. The Company also fortified its financial position through a private placement that raised approximately RM12.76 million in gross proceeds, underlining SCIB's prudent financial management.

SCIB's Q4FY2023 results illustrate a company on the move, aligning with broader economic forecasts and positioning itself well within the evolving economic landscape. The strategic approach and unwavering commitment to sustainable growth set the stage for a bright future.

SCIB's financial position is further bolstered by an outstanding orderbook for construction contracts, standing robust at RM275 million. This orderbook reflects a promising pipeline of projects and underscores SCIB's ability to identify and secure valuable opportunities in the market.

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Malaysian Genomics Unveils Strategic Advances in Biopharmaceuticals

PETALING JAYA, Malaysia, Aug 29, 2023 – (ACN Newswire) – Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, recorded a revenue of RM2.23 million for the 4th quarter ended 30 June 2023. This represents a decrease from RM6.33 million in the corresponding quarter of the preceding year, owing to a deliberate pivot from vaccines to cell and gene therapy products, focusing more on genetic screening initiatives.
Mr. Azri Azerai, Executive Chairman of Malaysian Genomics


For the quarter under review, the Group recorded a loss before tax (LBT) of RM9.98 million compared with a profit before tax (PBT) of RM2.97 million in the same quarter of the preceding year. The change is largely attributed to the impairment of receivables amounting to RM7.54 million and the Group's expansion and product development efforts in the fast-moving consumer good (FMCG) market. The Group will continue to implement stringent credit control policy as they move forward with their initiatives, particularly with Rejuvium.

For the current year-to-date, MGRC reported a revenue of RM8.36 million, a decrease from RM28.36 million in the previous year. A LBT of RM13.59 million was registered, largely due to similar factors affecting the quarterly results.

While the financials mark a transitional phase for the Group, MGRC remains robust and adaptable, focusing on both the short-term improvements in revenue and long-term sustainability through product development and market expansion.

Azri Azerai, Executive Chairman of Malaysian Genomics, expressed optimism about MGRC's future, stating: "MGRC achieved higher revenue in the current quarter as compared to the preceding quarter's revenue of RM0.68 million, mainly generated from cell and gene therapy products. Our state-of-the-art BSL-2 cell processing lab, cGMP approved by MOH for production of cell and gene therapies, illustrates our technological advancement. Hence, we foresee that we will obtain higher revenue from cell and gene products in the next quarter."

"Furthermore, we continue to engage with private hospitals and the Ministry of Health in Malaysia to improve access to our cell and gene therapy products. Recent partnerships and our focus on novel ingredients and finished products will target a wide market of use such as for cosmeceuticals, wound healing, general wellness and genetic-based fitness improvement programs that reflect our innovative drive and commitment to enhancing healthcare solutions and more," continued Azri.

Malaysian Genomics Resource Centre Bhd: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

New Hope Service Announces 2023 Interim Results

HONG KONG, Aug 29, 2023 – (ACN Newswire) – New Hope Service Holdings Limited ("New Hope Service" or "the Company", stock code: 3658.HK), a rare comprehensive service enterprise with property management services, lifestyle services and commercial operational services, announced its interim results for the six months ended 30 June 2023 (the "Reporting Period").

In the first half of 2023, New Hope Service adhered to the strategy of regional cultivation and achieved quality growth in results. During the Reporting Period, the Company recorded revenue of approximately RMB600 million, 17.1% more than in the same period of 2022. Gross profit was approximately RMB226 million, and gross profit margin was 37.7%. Net profit margin attributable to the parent Company was 18.3%, remaining at mid-to-high level. During the period, the Company has strengthened operations and lean management, yielding profit attributable to equity shareholders of the Company amounted to approximately RMB109 million, 9.6% more year-on-year. Basic earnings per share were RMB0.13. The Board recommended payment of an Interim dividend of HKD$0.073 per share, equivalent to a dividend payout ratio of 50%. As at the end of the Reporting Period, the Company's net cash flow from operating activities climbed by 209.1% against the same period last year to approximately RMB51 million, reflective of the healthy operation and ample cash flow of the Company.

Insisted on intensively cultivating business in different regions with focus on higher-tier cities
As at 30 June 2023, the Group had 205 projects under management involving GFA of 29.08 million sq.m., up by 31.6% against the corresponding period of 2022. It secured 245 property management projects with contracted GFA of 37.93 million sq.m, 22.5% more year-on-year. In particular, the steady development of New Hope Wuxin Industrial provided solid support for the Company's growth in scale. During the Reporting Period, New Hope Wuxin Industrial delivered 22 projects in 11 cities across the country, involving 16,641 units in all, of which more than 4,000 were delivered earlier than scheduled.

In addition, the Company stepped up cultivating business in Southwestern China and Eastern China, enabling it to grow its revenue and in scale. Operating revenue from the two regions increased year-on-year by 17.5% and 21.5%, respectively. Total revenue from the two regions accounted for 84.7% of the Company's total revenue. As for GFA under management in Southwestern China and Eastern China, it has been increased to 15.986 million sq.m. and 9.278 million sq.m., respectively, were added. It is clear that the Company has obvious advantage in terms of regional cultivation, plus with the model helpful for reducing management costs, it has been able to improve operational efficiency. In addition, of 91.5% of the Company's property management projects in first-tier, new first-tier and second-tier cities in China, and accounting for 95.9% of revenue from property management, which further verified the Company's strategy of cultivation in high-tier cities.

Strengthened market expansion capabilities and strategic cooperation
In the Reporting Period, the Company continued its expansion strategy with "quality" and "scale" as emphases and via such channels as bidding, establishing joint ventures and strategic partnership. Regarding strategic cooperation, the Company established cooperative relationship with state-owned platforms such as Chengdu Economic and Technological Development Zone Yuanqu Investment , Wuhou SDIC, Chengdu Renju Commercial Management, and set up two joint ventures under strategic cooperation framework and signed 15 project agreements in the first half year.

At the same time, the Company's ability to expand its external market was proven. Of the newly obtained area under management, more than 4.166 million sq.m. were from independent third parties, accounting for approximately 59.7% of the total. Of the new contracted area, more than 6.275 million sq.m. were from independent third parties, making up approximately 90.0% of the total. The new projects secured including high-end residential projects such as Wuxi Jiazhou Garden and Chengdu Lingyu, medical property projects such as Wenzhou Ruian Fifth People's Hospital and Kunming Orthopedic Hospital, as well as the Chengdu C8 Digital Economic Industrial Park, Chengdu Chabaidao Industrial Park, Chengdu Zhongbao BMW 4S Store and Nanning Vipshop Logistics Park, have opened a new chapter for the Company's specialized industrial park service.

Expanded Commercial Light Asset Operation Stable Growth of Life service
In the first half year, adhering to the strategic direction of bolstering and maintaining asset value, the Group stepped up efforts to enhance business with existing customers. During the Reporting Period, the Company landed new commercial operation projects, three more than in the corresponding period last year, including such as Mingyu Financial Plaza and Mingyu Building, and the revenue and gross profit from commercial operation services increased by 26.9% and 25.2%, respectively against the same period last year. The combined occupancy rate and rent per unit also increased.

At the same time, on the back of the strong industrial chain resources of New Hope Group, a Fortune Global 500 company, plus its own customer access attributes, New Hope Service has been able to, link up with various of New Hope Group's business segments, giving it an all-round life service system that covers "Property management + Group meal, Property management + Retail, Property management + Group purchasing". The company maintained a relatively high project renewal rate, building on its efforts to continuously improve customer satisfaction. Its lifestyle service segment achieved first-half revenue of RMB135.2 million, representing a 17.3% increase year-on-year. In particular, Group meal and retail businesses brought in revenue totaling RMB50.94 million, up by 19.0% against the same period last year.

Priding stable growth, industry-leading and comprehensive capability and brand influence, the Company placed 22nd among the "2023 China Property Management List of China Listed Companies " ranking published by EH Consulting and 25th among China Index Academy's "TOP 100 Property Management Companies in China", and also for the first time obtained "EH Consulting Property Management ESG A Rating".

Looking forward, New Hope Service will continue to follow the strategy of "For Better People's Livelihood, New Hope Service Start from Hustle and Bustle of Chengdu" and deploy intensively in first-tier, new first-tier and second-tier cities with industrial support and people inflow, with the aim of fortifying its advantages in regional cultivation and brand influence. The Company will continue to push to expand through bidding, joint ventures and strategic partnerships, strengthen more in-depth connection with New Hope Group's industrial chain, so as to offer integrated lifestyle service solutions that can create value for customers in the aspects of "asset appreciation and preservation" and "peace of mind for better living life", as well as bring greater longer-term returns to shareholders.

New Hope Service Holdings Limited (stock code: 3658.HK)
New Hope Service Holdings Limited, as a livelihood service operator providing integrated property management, is deeply engaged in China's metropolitan areas and city clusters, and is the representative of Chengdu property management enterprises and a leading enterprise in the western property services market. Backed by New Hope Group, a Fortune 500 company, New Hope Service has unique branding advantages and supply chain advantages in the livelihood industry. With "asset appreciation and preservation" and "peace of mind for better living life" at its core, New Hope Service provides logistics management services, lifestyle services and commercial operation services to various properties, and has achieved sustained, high-quality growth. It was ranked 22nd in the "2023 China Property Management List of China Listed Companies" by EH Consulting and 25th in the "2023 TOP 100 Property Management Companies in China" by China Index Academy, and was also awarded the " EH Consulting Property Management ESG A Rating" for the first time by EH Consulting.

Press Contacts
Strategic Financial Relations Limited
Yan Li / Grace Liu
Tel: (852) 2114 4320 / (852) 2864 4170
Email: yan.li@sprg.com.hk / grace.liu@sprg.com.hk
Website: www.sprg.com.hk



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