Neusoft Xikang Holdings Inc. Releases 2023 Annual Results, Business Structure Gradually Optimized, Share of Medical Services Business Continued to Grow

HONG KONG, Mar 21, 2024 – (ACN Newswire) – Neusoft Xikang Holdings Inc. (“Neusoft Xikang” or the “Company”, together with its subsidiaries collectively referred to as the “Group”; Stock Code: 9686.HK) was pleased to announce its audited consolidated results for the year ended 31 December 2023 (the “Reporting Period”).

In 2023, internet medical services were more widely recognized and developed rapidly, and digital healthcare services are becoming a regularised healthcare option for the public. The government has continued to release a series of favorable policies to provide support for the digital healthcare to expand into other healthcare scenarios, which has brought strong impetus to the sustainable development of the internet medical services. The Group has responded positively to the industry development trend in the post-pandemic era, pushed forward business restructuring in an orderly manner, focused on businesses with high strategic synergies, continued to optimize its business structure and resources allocation. Meanwhile, it increased the proportion of its medical services business and strengthened its production control, resulting in a sustainable and healthy development of its business in general, with an improvement in its gross profit margin and a significant reduction in its net loss.

During the Reporting Period, the Group achieved revenue of approximately RMB537.7million, representing a decrease of 21.8% for the same period of the previous year; gross profit margin increased by 6.1 percentage points year on year to 30.6%; and net loss of approximately RMB154.9 million, representing a significant decrease of 36.3% year-on-year. Revenue from medical services business increased by 14.3% year-on-year. Among them, revenue generated from home care services amounted to RMB22.7 million, representing an increase of 279.2% as compared to the corresponding period of the previous year. And the number of doctors and nurses increased by 14.7% and 81.2% year-on-year respectively. More than 150,000 attendances of home-based care were provided.

Accelerating the expansion of cloud hospital platform services with local governments as the core starting point

During the Reporting Period, the Group continued to adhere to the strategic to the market strategy featuring the cooperation among medical institutions with local governments as the core starting point, and continued to focus on markets in the East, North and South China regions and strengthen the cooperation with existing government customers and the expansion of new government customers by tapping into the advantages of its cutting-edge technology, experience, resources and customer base. As at 31 December 2023, the number of medical institutions connected to the Group’s platform was 36,000, of which the number of hospitals was 2,610 and the number of primary medical institutions was 33,000. During the Reporting Period, the number of paid medical institutions was 491, an increase of 238.6% for the same period of the previous year.

In Zhejiang Province, the Group continued to strengthen its cooperation with the government of Zhejiang Province and acted swiftly to promote the construction and operation of the platform, “Healthcare in Zhejiang”. It took only one year for the platform of “Healthcare in Zhejiang” to expand from Ningbo City to other 11 cities in Zhejiang, with more than 570 healthcare institutions stationed on the platform. In East China, the Group continued to strengthen the construction and operation in Ningbo City and Jiangsu Province. By the end of 2023, 45 online hospitals were stationed on the Ningbo cloud hospital platform and 159 hospitals were stationed on the Online Hospital Platform in Jiangsu Province. In North China, the Group assisted the government of Henan Province in the second half of 2023 in the construction and operation of a provincial-level home care service platform in Henan Province – the service platform of “Home Care in Henan”, and as at 31 December 2023, 54 medical institutions were stationed on the platform. In Shenyang, the Group, in conjunction with the Shenyang municipal government, continued to promote the development of home care services in the city, and as at 31 December 2023, there were 57 medical institutions offering home care services in Shenyang.

Meanwhile, the Group has strengthened its cooperation with medical institutions and promoted them to land on the Group’s platform in a faster and more economical manner. During the Reporting Period, the Group launched upgraded platform products oriented on patient treatment experiences, further assisting hospitals in optimizing patient treatment processes and enhancing treatment efficiency. As of 31 December 2023, 151 online hospitals have had presence in the platform, an increase of 52.53% from 99 in 2022.

Continuously improving service quality and efficiency, diversifying service content and gaining steady growth of online medical services

Centered around patients’ health, the Group has further enhanced the coordinated development of online hospital services, family doctor services and remote medical services, strengthened cooperation with hospitals and physicians, and diversified online medical service content to improve medical efficiency and user experiences. During the Reporting Period, revenue generated from the Group’s online medical services amounted to RMB157.6 million, an increase of 14.3% from RMB137.8 million for the same period of the previous year, accounting for 29.3% of the total revenue.

Regarding online hospital services, the Group vigorously boosted the development of online medical services in large hospitals based on the city-specific cloud hospital platform, enhancing the enthusiasm of medical institutions and physicians. As of 31 December 2023, the Ningbo cloud hospital platform had provided online medical services for over 1.5 million treatments, a 114.2% increase for the same period of the previous year. In 2023, online medical services provided by city-level online hospitals in Ningbo accounted for 53% of the total services in the city. At the same time, the Group continued to optimize the medical service process, constantly diversified scenarios and content of online medical services, leading to a significant increase in customer services. For instance, the introduction of appointment services for medical tests and examinations advanced by the Group in Ningbo saw 260,000 appointments in 2023, a 233.3% increase for the same period of the previous year.

In terms of remote medical services, leveraging abundant medical resources and a sound operational system, the Group continued to strengthen the development and operation of medical specialty consortiums, facilitating medical collaboration between urban primary family doctors and professional physicians from large hospitals. This promoted the establishment of a multi-level remote medical collaboration system based on urban primary family doctors, supported by professional physicians from large hospitals, and centered on experts in regional renowned disciplines. As of 31 December 2023, the Group’s remote medical service treatments reached 1.45 million, an increase of 36.3% yoy.

Concerning home care services, the Group continued to explore innovation in models, by facilitating government departments establishing complete standards and systems for the services. While at the same time, there is ongoing innovation in home care service content and optimization of home care service processes, and improvement of service quality. During the Reporting Period, revenue generated from home care services amounted to RMB22.7 million, representing an increase of 279.2% as compared to the corresponding period of the previous year. As at 31 December 2023, home care services are provided to more than 150,000 clients, representing a year-on-year increase of 185.9%, of which, the volume of home care services provided in Zhejiang Province exceeded 120,000, representing a year-on-year increase of 295.6%.

Strengthening corporate health management operations and enhancing professional service capabilities

Focusing on employee health and user health, the Group continued to build a new offline and online integrated health management service system. During the Reporting Period, the revenue generated from health management services amounted to RMB245.9 million, an increase of 17.6% compared to the same period last year.

During the Reporting Period, the Group continued to tap into the health needs of its employees and explored innovations in the health management service model, with a view to providing personalized, more precise and professional medical and healthcare services to its clients. In terms of market development, the Group adhered to the dual market development strategy of institutional and individual clients, continuing to consolidate its cooperation with institutional clients, actively expanding online sales channels and focusing on the development of large and medium-sized institutional clients. During the Reporting Period, the volume of health management services reached 590,000, representing a year-on-year increase of 22.5%; among them, institutional clients accounted for approximately 88.3%, with services provided to 520,000 institutional clients, a year-on-year increase of 26.4%. With the professional service capabilities and experience accumulated in the field of health management services, the cumulative number of institutional clients for the Group’s health management services reached 7,441 by the end of 2023, and the institutional clients retention rate in 2023 was 78%.

Future Prospects

In 2024, the Group will continue to adhere to the strategic model of city cloud hospital platform and continuously optimize its business structure. The focus will be on the coordinated development of “Medical + Nursing + Health” service business, providing users with more sustainable, convenient, and high-quality medical and health services. In terms of the cloud hospital platform services, efforts will be made to continue cost reduction and efficiency improvement. Technological empowerment will be utilized to enhance product performance and improve the user experience, thereby enhancing the competitiveness of the cloud hospital platform. In home care services, there will be continuous enrichment of service content and optimization of service experience, aiming to create a new integrated medical and health service system that manages the entire process seamlessly from pre-hospital to in-hospital and post-hospital. In terms of health management, there will be ongoing efforts to strengthen the operation of corporate health management, explore customer needs, and drive the continuous expansion of the health management business.



Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SuperMeat’s Forward-Facing LCA Highlights 50% Decrease in Carbon Footprint of Chicken, the Most Efficient Animal Protein

Tel Aviv, Israel, Mar 21, 2024 – (ACN Newswire) – SuperMeat, a food-tech company dedicated to supplying the world with high-quality cultivated meat, today shared industry-first, forward-looking projections for cultivated chicken based on its landmark continuous production process, outperforming the ambitious benchmarks set for conventional chicken at the start of the next decade.

SuperMeat's Mediterranean YakitoriSuperMeat’s Mediterranean Yakitori

The Life-Cycle Analysis (LCA) was conducted by CE Delft, an independent sustainability research and consultancy firm, to evaluate the anticipated environmental impact of a large-scale production of SuperMeat’s cultivated chicken, offering a glimpse into the future of sustainable meat production.

The assessment provides a detailed comparative analysis between SuperMeat’s 100% cultivated chicken and the most sustainably produced traditional chicken aspired for the outset of the 2030s.

SuperMeat’s cultivated chicken is projected to achieve a carbon footprint approximately 50% lower than the ambitious benchmarks set for conventional chicken production, when integrating renewable energy sources and sustainable production practices in both conventional and cultivated production methods. Even under the reliance on standard grid electricity, a 27% reduction in the carbon footprint of SuperMeat’s chicken is achieved, in comparison to the ambitious conventional chicken benchmark.

This analysis not only showcases the advantages of cultivated meat compared to conventional methods, but shows, for the first time, that cultivated meat could drastically improve the most carbon-efficient form of animal protein available today – chicken – in carbon efficiency and across numerous other measures.

Key findings:

Reduced Environmental Impact: SuperMeat’s cultivated chicken marks a significant 47% reduction in carbon footprint, a 64% decrease in fine particulate matter formation, an 85% lessening in terrestrial acidification, and a 90% cutback in land use compared to traditional chicken farming.Enhanced Feed-to-Meat Efficiency: SuperMeat’s chicken product exhibits a lower Feed Conversion Ratio (FCR) than conventional meats, demonstrating superior efficiency in transforming feed into meat. Specifically, SuperMeat’s FCR is estimated at around 1 vs. 2.8 for chicken, almost three times more efficient.

A Highly Efficient Production Process Fuels SuperMeat’s Sustainability Milestones:

SuperMeat’s continuous production process will be instrumental in achieving the expected sustainability outcomes for its cultivated chicken. The foundation of this analysis is based on practices currently in place at SuperMeat’s pilot plant, underscoring the current effectiveness and feasibility of this approach. The continuous production process allows for significantly higher yields – up to nine times greater than a fed-batch process based on SuperMeat’s data – and is more energy-efficient than fed-batch processes. Moreover, the adoption of high cell densities and the use of spent media in SuperMeat’s process contribute to a favorable feed-to-kg conversion rate. These breakthroughs in cellular agriculture are expected to enable SuperMeat to set these sustainability standards when producing at a commercial scale.

“Efficiency in meat production is no longer a goal; it’s a necessity,” said SuperMeat’s CEO Ido Savir. “Our pilot plant is the proving ground for SuperMeat’s vision of efficiency and sustainability. Through continuous production, we’ve showcased the potential to dramatically increase yields while reducing our environmental footprint, a testament to our dedication to advancing meat production.”

Moving Forward:

SuperMeat remains dedicated to pioneering advancements in sustainable meat production, and will use this LCA as a strategic guide for planning its large-scale production facilities, with a focus on incorporating renewable energy, establishing a sustainable supply chain and enhancing production processes.

For the comprehensive LCA findings, visit SuperMeat’s website.

About SuperMeat:

SuperMeat stands at the forefront of the cultivated meat sector, championing the move towards sustainable, nutritious, and animal-friendly meat production. The company has established a pivotal continuous process, setting a new standard in the production of cultivated meat. SuperMeat has formed strategic partnerships with leading food companies, underscoring its commitment to working together to create a better food system.

Methodology

The research methodology behind SuperMeat’s Life Cycle Assessment (LCA) employs a systematic approach to evaluate the environmental impact of its cultivated chicken product.

The LCA, anchored in the goal and scope definition per ISO 14044 standards, emphasizes an ex-ante approach, comparing SuperMeat’s future production to 2030 ambitious benchmarks for conventional chicken. SuperMeat provided estimates based on specific technological data and efficiency metrics for its large-scale production. The analysis adopts a cradle-to-gate perspective, accounting for all relevant environmental extractions and emissions up to the point of leaving the production facility, including packaging. The assessment critically examines global warming potential among other key environmental metrics, using established environmental databases, ensuring a comprehensive and forward-looking analysis of SuperMeat’s environmental practices.

Contact Information
Osnat Shostak
VP Business Development
osnat@supermeat.com
+1 (917) 855-3348

Shir Friedman
Head of Communication
press@supermeat.com

SOURCE: SuperMeat

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View the original press release on newswire.com.



Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Fourth Paradigm Announces 2023 Annual Results

HONG KONG, Mar 20, 2024 – (ACN Newswire) – A leading enterprise AI software company-Beijing Fourth Paradigm Technology Co., Ltd. (“Fourth Paradigm” or the “Company”, Stock Code: 6682.HK) today announced the consolidated annual results for the year ended December 31, 2023 (the “Reporting Period”).

Financial Highlights:

In 2023, the total revenue amounted to RMB4,204 million, representing a year-on-year growth of 36.4%

– The revenue of the 4Paradigm Sage AI Platform (the “Sage AI Platform”) business grew by 68.0% year on year to RMB2,506 million, accounting for 59.6% of the total revenue

– The SHIFT Intelligent Solutions business recorded revenue of RMB1,283 million, accounting for 30.5% of the total revenue

– The revenue of the 4Paradigm SageGPT AIGS Services segment amounted to RMB416 million, accounting for 9.9% of the total revenue

Gross profit amounted to RMB1,980 million, representing a year-on-year increase of 33.2% and a gross profit margin of 47.1%

The total R&D expenses further increased to RMB1,769.0 million, with a R&D expense ratio of more than 40%

The adjusted net loss* declined by 17.6% year-on-year. The Company reduced losses year-on-year since 2021

Operation Highlights:

In 2023, the Company maintained the leading position in China’s enterprise AI software industry, and has been ranked No. 1 by IDC in terms of the Chinese machine learning platform market share for five consecutive years since 2018.

In 2023, the Company continued to expand its customer base. The total number of users increased to 445, with 139 lighthouse users, representing a year-on-year growth of 33.7%. The average revenue from lighthouse users was RMB18.38 million, and their NDER (net dollar expansion rate)* was 115% in 2023

The Company has established three major business segments: 4Paradigm Sage AI Platform (4ParadigmSage), SHIFT Intelligent Solutions (4Paradigm SHIFT), and 4Paradigm SageGPT AIGS Services (4Paradigm AIGS):

– 4ParadigmSage: Currently, the number of models built on the Sage AI Platform exceeds 10,000. The Company is about to release version 5.0 of the Sage AI Platform to further promote the extensive use of AI technology by the end of March 2024

– 4Paradigm SHIFT: During the Reporting Period, the Company released dozens of solution products, which are widely used in key industries such as finance, energy and power, telecommunications and transportation, driving the digital transformation of enterprises and industries; Paradigm Ecology was unveiled in November 2023. The first batch of more than 40 partners joined Paradigm Ecology, with applications in dozens of industry scenarios.

– 4Paradigm AIGS: In April, the Company formally announced SageGPT 3.0. SageGPT positioned as a software development platform built upon large model capabilities, and put forward AIGS (AI-Generated Software: Refactoring enterprise software with generative AI) technical strategy. In 2023, the large model business enhanced generative related services for hundreds of enterprises and partners. The SageGPT large model has already been registered in accordance with the Provisional Administrative Measures for Generative Artificial Intelligence Services.

* Adjusted Net Loss: the Company defines adjusted net loss as loss for the year adding back share-based compensation, interest expense on redemption liabilities and listing expenses, the same below.

* NDER (net dollar expansion rate) reflects customer stickiness and willingness to pay. In this announcement, the denominator is the revenue contribution of lighthouse users in 2022, and the numerator is the revenue generated by the retained lighthouse users in 2023, the same below.

In 2023, Fourth Paradigm continued to expand its customer base and increase the average revenue of customers, recorded robust growth in total revenue and have reduced losses year-on-year since 2021. During the reporting period, the Company recorded robust growth in total revenue, up by 36.4% year on year to RMB4,204.1 million, which was mainly driven by the significant increase in revenue from Sage AI Platform. The revenue of the 4Paradigm Sage AI Platform (the “Sage AI Platform”) business grew by 68.0% year on year to RMB2,506 million, accounting for 59.6% of the total revenue. The SHIFT Intelligent Solutions business recorded revenue of RMB1,283 million, accounting for 30.5% of the total revenue. The revenue of the 4Paradigm SageGPT AIGS Services segment amounted to RMB416 million, accounting for 9.9% of the total revenue. The Company’s gross profit amounted to RMB1,980 million, representing a year-on-year increase of 33.2% and a gross profit of 47.1%. The total number of users increased to 445, with 139 lighthouse users, representing a year-on-year growth of 33.7%. The Company insists on creating value for customers. During the reporting period, the average revenue from lighthouse users was RMB18.38 million, and their NDER (net dollar expansion rate) was 115% in 2023. The Company emphasized technology investment. The total R&D expenses further increased to RMB1,769.0 million, with a R&D expense ratio of more than 40%. The Company has set a clear goal of profitability. Full-year adjusted net loss reduced by RMB88.88 million or 17.6% year-on-year. The Company reduced losses year-on-year since 2021.

Three Major Business Segments Develop Cooperatively, SageGPT Industrial Large Model Makes Breakthroughs in Commercialization in Multiple Domains

Currently, the Company has established three major business segments: 4Paradigm Sage AI Platform (4ParadigmSage), SHIFT Intelligent Solutions (4Paradigm SHIFT), and 4Paradigm SageGPT AIGS Services (4Paradigm AIGS).

The Sage AI Platform is Fourth Paradigm’s platform for developing AI models. As the core of all 4Paradigm businesses, the Sage AI Platform greatly reduces the threshold of AI model building, produces standardized models and efficiently reuses them via powerful AI infrastructure, which reduces the average model building cycle from half a year to days, and facilitates the extensive AI applications. Currently, the number of models built on the Sage AI Platform exceeds 10,000.

The SHIFT Intelligent Solutions are a series of intelligent solutions for various industries developed based on the underlying AI capabilities of 4Paradigm and the industry practice experience of 4Paradigm and its partners. It aims to empower the digital and intelligent transformation of many industries with leading AI capabilities to enhance the core competitiveness of enterprises. During the Reporting Period, the Company released dozens of solution products, which are widely used in key industries such as finance, energy and power, telecommunications and transportation, driving the digital transformation of enterprises and industries. Paradigm Ecology was unveiled in November 2023. Paradigm Ecology is committed to providing end-to-end solutions for various industries based on the Company’s definition of the future direction of the industry (the “North Star System”) and the Company’s core technical capabilities, in partnership with the Company’s ecological partners. The first batch of more than 40 partners joined Paradigm Ecology, with applications in dozens of industry scenarios.

In February 2023, the Company was the first to release “SageGPT” 1.0, a self-developed platform product for developing industrial large model, which was among the first commercialized large model products in China. SageGPT large model is in the global leading position in terms of technical indicators like understanding, reasoning and generative capability. In 2023, it was selected as one of the first 7 model partners in Beijing, and then selected as one of the first “2023 Trusted AI Cases – Excellent Cases of Large Model R&D Application and Tool Platform” by the China Academy of Information and Communications Technology. The SageGPT large model has already been registered in accordance with the Provisional Administrative Measures for Generative Artificial Intelligence Services in China. In addition to building first-class large model products, the Company has also injected considerable R&D resources to make large models more “intelligent” in multimodality, copilot and Chain-of-Thought (CoT).

In April 2023, along with the release of SageGPT 3.0, the Company first proposed its AIGS (AI-Generated Software) strategy to refactor enterprise software with generative AI and positioned the Company’s products as a new development platform based on multi-modal large models to enhance the experience and development efficiency of enterprise software.

In 2023, the Company’s large model business was widely expanded to such fields as finance, manufacturing, healthcare, retail, real estate brokerage, education and energy, enhancing generative related services for hundreds of enterprises and partners. In the past year, “SageGPT” built a network operation platform intelligent assistant for a telecommunication client to empower its frontline employees, co-built a large model of real estate brokerage together with a leading real estate brokerage firm, refactored the industrial designing software of a transportation manufacturer, enabling the search and automated assembly for 3D parts through a large model. Such case was listed in the MIT Technology Review as an “Advanced Application Case of China’s Large AI Model”.

Implementing Forward-looking R&D Investments and Talent Strategies

Fourth Paradigm recognizes that talent and innovation are the core drivers of sustainable growth, so the Company is committed to implementing forward-looking R&D investments and talent strategies. The Company reinvest a significant percentage of the annual revenue in R&D areas that drive long-term strategic value. In 2023, the Company’s R&D spending exceeded RMB1.7 billion, with a R&D expense ratio of more than 40%. These investments are made not only in research and development of new technologies, but also in the continuous enhancement of existing products and solutions to ensure that the Company remains at the forefront of the industry and maintain competitive advantages.

In 2023, Fourth Paradigm made significant breakthroughs in many cutting-edge technologies, received numerous recognitions from academia and industry, and had 25 papers accepted by top-class AI conferences and journals. The Company’s biocomputing technology was featured in a sub-journal of Nature.

In terms of Strategic Outlooks, Dr. Dai Wenyuan, Chairman of the Board, Executive Director, Chief Executive Officer and General Manager of Beijing Fourth Paradigm Technology Co., Ltd. said, “In the era of AI, enterprises need to be empowered by new technologies, and thus need AI software companies. This is Fourth Paradigm’s opportunity in the era: AI technology will breed a new generation of new forces and new giants in enterprise software. What does Fourth Paradigm want to become? We want to become an enterprise software company that can empower thousands of industries in the era of AI. Over the past nearly 10 years, we have been insisted on innovation-driven development and have achieved breakthroughs in key technologies. Since 2018, we have been ranked No. 1 in terms of the Chinese machine learning platform market share for five consecutive years. With competitiveness and brand power, our AI products have won a stronger integration force of ecological resources. In the next decade, for Fourth Paradigm, challenges and opportunities coexist. We will always adhere to technology investment, from large models, automatic machine learning, Agent, to robots, etc., leading the development trend of ‘AI +’. We will also take advantage of our industry influence to work with ecological partners to empower the intelligent transformation of industries with AI technology.”

 



Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

H World Announces Q4 and Full Year of 2023 Operating Results, Full Year RevPAR in China Recovered to 122% of the 2019 Level

SINGAPORE/SHANGHAI, Mar 20, 2024 – (ACN Newswire) – H World Group Limited (“H World” or “the Group”, NASDAQ: HTHT and HKEX: 1179) announced its unaudited financial results for the fourth quarter (“Q4 2023”) and full year ended December 31, 2023.

Strong Recovery Momentum in Legacy-Huazhu: RevPAR of 2023 Recovers to 122% of 2019 Levels

Supported by the sustained recovery in both leisure and business travel demand, RevPAR in Q4 2023 recovered to 120% of the 2019 level for Legacy-Huazhu business (refers to H World’s business in China). Breaking down into each month, the RevPAR in October, November and December 2023 recovered to 120%, 117% and 123% of the 2019 levels, respectively. Among them, the ADR was RMB284 in the fourth quarter of 2023, compared with RMB240 in the fourth quarter of 2022, RMB324 in the previous quarter, and RMB232 in the fourth quarter of 2019. The OCC for all the Legacy-Huazhu hotels in operation was 80.5%, with a year-on-year growth increased by 14.3 percentage points. For H World International (formerly known as DH), the ADR was EUR115, and the OCC for all H World International hotels in operation was 63.8%. Blended RevPAR was EUR73, recovered to 111% of the 2019 level.

Legacy-Huazhu’s RevPAR in 2023 indicate a robust resurgence. Commencing from February 2023, each monthly RevPAR consistently surpasses the 115% relative to the recovery of the 2019 level. For the full year of 2023, Legacy-Huazhu’s RevPAR reached 122% of the 2019 level. While the RevPAR growth in 2023 was primarily driven by ADR, H World also experienced continuous recovery in the occupancy rate.

Year-on-Year Revenue Surges Over 50%, Continues to Exceed Guidance

Relying on a sophisticated and efficient regional framework to rapidly expand the hotel network, gradually reaching resilient low-tier cities, H World consistently maintains a leading position in the limited-service market through high-quality products. In the fourth quarter of 2023, revenue was RMB5.6 billion (US$786 million), representing a 50.7% year-over-year increase. Revenue from the Legacy-Huazhu was RMB4.4 billion, representing a 59.0% year-over-year increase. Revenue from H World International in the fourth quarter of 2023 was RMB1.2 billion, representing a 26.6% year-over-year increase and a 2.2% sequential increase. The revenue growth for both the Group and Legacy-Huazhu exceeded the revenue guidance previously announced. Hotel turnover increased 55.0% year-over-year to RMB20.4 billion. Excluding H World International, hotel turnover increased 60.6% year-over-year in the fourth quarter of 2023. Net income attributable to H World Group Limited was RMB743 million (US$105 million), compared with a net loss attributable to H World Group Limited of RMB124 million in the fourth quarter of 2022. EBITDA (non-GAAP) in the fourth quarter of 2023 was RMB1.4 billion (US$191 million), compared with RMB529 million in the fourth quarter of 2022.

For the full year of 2023, the Group’s Revenue increased 57.9% year-over-year to RMB21.9 billion (US$3.1 billion). Net income attributable to H World Group Limited was RMB4.1 billion (US$575 million), compared with a net loss attributable to H World Group Limited of RMB1.8 billion for the full year of 2022. EBITDA was RMB6.8 billion (US$961 million), compared with RMB164 million for the full year of 2022.

The Interior of the Newly Launched Ji Hotel 5.0

In November 2023, the Group declared approximately US$300 million cash dividend, which included US$200 million of regular dividend and US$100 million special dividend. The Group also repurchased about US$120 million shares from the market in 2023. As H World becomes more asset-light and cash-rich, they will continue to reward their shareholders through dividends and buybacks.

Focusing on Economy and Midscale Brands, the Number of Hotel Openings Reaches a Historic High

As of December 31, 2023, H World’s worldwide hotel network in operation totaled 9,394 hotels and 912,444 rooms, including 131 hotels from H World International. The number of new openings by H World in China continues to accelerate. During the fourth quarter of 2023, Legacy-Huazhu opened 460 hotels. In 2023, for Legacy-Huazhu business, the number of hotels in new openings is 1,641, with an additional 3,061 hotels in the pipeline, marking a significant surge. H World seizes diverse accommodation needs through a multi-brand strategy, developing upper-midscale segment, continuously offering cost-effective and high-quality products to further meet the extensive demands of the essential market. As of the fourth quarter of 2023, the number of upper-midscale hotels in operation reached 645, with a 24% year-on-year increase and a 7% sequential increase. Simultaneously, the number of hotels in pipeline reached 386, with a 34% year-on-year increase and a 8% sequential increase. The number of hotels in operation and pipeline reaching 1,031, realizing the 1,000 hotels target set by H World in 2021. The Group will further accelerate high-quality network expansion by setting the gross hotel opening target of around 1,800 hotels in 2024.

As a leader in the Chinese chain hotel industry and one of the fastest-growing hotel groups globally, H World focuses on the core economy and midscale brands, actively expanding its hotel network. Leveraging organizational restructurings and the establishment of regional subsidiaries, H World effectively addressed underdeveloped areas, bolstering regional development and operational prowess, yielding staged operating outcomes. Looking ahead, Legacy-Huazhu will persist in its streamlined growth strategy, prioritizing service excellence by expanding premium establishments and deepening market penetration in lower-tier cities and underserved regions, particularly in limited-service hotels. This involves advancing brand quality through customer-centric sustainable quality growth and digitization-driven organizational upgrades. Concurrently, H World International will refine its strategic orientation towards asset-light transformation, cost reduction and efficiency improvement, and strengthening direct sales via H Reward global loyalty program. Additionally, it will explore growth opportunity in the Asia Pacific (APAC) and Middle East. The Group will continue to adhere to its sustainable and high-quality development path and sharpen its performance.

About H World Group Limited:

Originated in China, H World Group Limited is a key player in the global hotel industry. H World’s brands include Hi Inn, Elan Hotel, HanTing Hotel, JI Hotel, Starway Hotel, Orange Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Joya Hotel, Blossom House, Ni Hao Hotel, CitiGO Hotel, Steigenberger Hotels & Resorts, MAXX, Jaz in the City, IntercityHotel, Zleep Hotels, Steigenberger Icon and Song Hotels. In addition, H World also has the rights as master franchisee for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel, in the pan-China region.

H World’s business includes leased and owned, manachised and franchised models. Under the lease and ownership model, H World directly operates hotels typically located on leased or owned properties. Under the manachise model, H World manages manachised hotels through the on-site hotel managers that H World appoints, and H World collects fees from franchisees. Under the franchise model, H World provides training, reservations and support services to the franchised hotels, and collects fees from franchisees but does not appoint on-site hotel managers. H World applies a consistent standard and platform across all of its hotels.

For more information, please visit H World’s website: https://ir.hworld.com.

 

For enquiry, please contact Intelligent Joy Limited:

Angie An/Charlotte Zhang

Tel: (852) 3618-8460/3594-6407

Email: angie.an@intelligentjoy.com / charlotte.zhang@intelligentjoy.com



Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Kingsoft Announces 2023 Annual and Fourth Quarter Results

HONG KONG, Mar 20, 2024 – (ACN Newswire) – Kingsoft Corporation Limited (“Kingsoft” or the “Company”; HKEx stock code: 03888), a leading Chinese software and Internet service company, has announced its 2023 annual results and fourth quarter results for the period ended 31 December 2023.

For the year of 2023, the revenue of Kingsoft increased 12% year-on-year to RMB8,533.6 million. Revenue from the office software and services, and online games and others represented 53% and 47%, respectively, of the Company’s total revenue for the year of 2023. Gross profit for the year of 2023 increased 14% year-on-year to RMB7,030.3 million, while operating profit increased 19% year-on-year to RMB2,226.9 million.

For the fourth quarter of 2023, the Company’s revenue increased 9% year-on-year and 12% quarter-on-quarter to RMB 2,310.1 million. Revenue from the office software and services and online games and others represented 56% and 44%, respectively, of the Company’s total revenue for the fourth quarter of 2023. Gross profit for the fourth quarter of 2023 increased 9% year-on-year and 13% quarter-on-quarter to RMB1,896.3 million, while operating profit amounted to RMB714.8 million.

Mr. Jun LEI, Chairman of Kingsoft, commented: “In 2023, the Group’s overall performance maintained solid growth despite challenges. We actively promoted our core businesses to lay a solid foundation for sustainable development in the future. Focusing on the strategy of ‘multiscreen, cloud, content, collaboration, AI’, Kingsoft Office Group continued to invest in R&D of AI and collaboration, and strengthened the competitiveness of its products through technological innovation, product iteration, performance enhancement and other initiatives. In terms of online games business, we adhered to the original intention of creating prime games and insisted on long-term operation. As developing wuxia games, we are also making incremental progress in exploring new game genres.”

Mr. Tao ZOU, Chief Executive Officer of Kingsoft, added: “In 2023, the Group’s businesses demonstrated growth resilience, with the Group’s total revenue of RMB8,533.6 million, representing a year-on-year increase of 12%. The office software and services business maintained solid operations, with annual revenue of RMB4,556.5 million, representing a year-on-year increase of 17%, driven by the growth of domestic individual and institutional subscription businesses. Revenue from online games and other businesses amounted to RMB3,977.1 million, representing a year-on-year increase of 6%, mainly driven by the strong growth of JX3 Online. Operating profit of the Group amounted to RMB2,226.9 million in 2023, increasing by 19% year-on-year. These results reflected our efforts to adhere to the technology-driven business, continuously invest in products and technologies, and enhance user experience.”

BUSINESS REVIEW

Office Software and Services

In 2023, revenue from office software and services business increased 17% year-on-year to RMB 4,556.5 million. Revenue in the fourth quarter increased 18% year-on-year and 17% quarter-on-quarter to RMB 1,285.7 million. The increases were mainly due to the growth of both domestic individual office subscription business and institutional subscription business, partially offset by the decrease in institutional licensing business of Kingsoft Office Group.

Kingsoft Office Group has released WPS AI, an intelligent office application powered by large language models, focusing on the development of three strategic directions: AI Generated Content (content creation), Copilot (intelligent assistant), and Insight (knowledge insight). WPS AI officially launched public beta testing in the Chinese Mainland in the fourth quarter, laying a solid foundation for further commercialization. We have also upgraded the WPS Office to improved user experience. In addition, we continued to improve the end-to-cloud integration experience, and enhanced user activity in the cloud. While adhering to long-term membership strategy, we have upgraded the membership benefits structure, launched the super membership system to meet the needs of different users through a flexible combination of benefits.

For institutional customers, Kingsoft Office Group has upgraded WPS 365, new productive forces in office, to provide content creation, office collaboration, open ecosystem and digital asset management capabilities. We continued to promote the end-to-cloud integration and collaboration process, focused on the business scenarios of government and premium customers of state-owned and private enterprises. We deepened our product capabilities to serve industries such as finance, transportation, energy, publishing, healthcare, consumer retail, high-end manufacturing and the Internet, incubated secure and efficient solutions that can be applied across the industry, and continued to replicate typical cases for widespread adoption. Meanwhile, we have been continuously collaborating with premium customers to explore feasible solutions for the implementation of WPS AI in government and enterprise office scenarios to advance its application in various industries and office settings. In the field of public cloud service, we encouraged customers to use cloud and collaboration applications, enabling them to manage their digital assets, and expanded market reach with channel partners. By highlighting the features of our products, we attracted enterprise customers and increased their user engagement and payment retention.

In 2023, Kingsoft Office Group has closely monitored the localization industry policy changes and customer demand, and taken the initiative to tap local government market in advance. Starting from the replacement needs of localization industries such as finance, energy and operators, we promoted the adoption of the new license mode and deepened their cloud and collaboration office process.

Kingsoft Office Group put users first and officially shut down domestic third-party advertising business in December 2023. In terms of overseas business, based on our solid foundation in the mobile sector, we continued to cultivate our user base on desktop platforms. Looking ahead, Kingsoft Office Group will continue to focus on AI and collaboration, further polish the products, and provide high-quality AI collaborative office products and services to individual and institutional users.

Online Games and others

Revenue from the online games and others business for the year of 2023 increased 6% year-on-year to RMB 3,977.1 million. The year-on-year increase was primarily attributed to the remarkable resilience of flagship game JX3 Online, which introduced new gameplay and content updates, and revenue contribution from new titles like Snowbreak: Containment Zone and World of Sword Origin, partially offset by the decline in revenue from certain existing games. Revenue for the fourth quarter of 2023 kept flat year-on-year and increased 7% quarter-on-quarter to RMB1,024.4 million. The quarter-on-quarter increase was primarily driven by the revenue contribution from World of Sword Origin released in Chinese Mainland in September, partially offset by decreased revenue from certain existing games.

In 2023, the online games business saw steady growth. The flagship game JX3 Online demonstrated resilience and strong vitality. It has been in operation for fourteen years and achieved a record high in annual revenue. JX3 Online continued to iterate and release new expansion packs with upgraded graphics, providing players more diverse and enriched gaming experience. World of Sword Origin was successively launched in Vietnam and Chinese Mainland, attracting dedicated players with its classic gameplay and nostalgic appeal, while also contributed to the global reach of traditional Chinese culture. The global release of the anime shooter game, Snowbreak: Containment Zone, expanded the user base of anime and overseas markets. The sci-fi mech game Mecha BREAK made its debut at The Game Awards at the end of the year, gaining widespread attention from the international market for its art design and innovative gameplay, eagerly awaited by global players.

Looking forward to 2024, the release of JX3 Ultimate will offer players brand new experience across multiple platforms. We will continue to expand into new genres, refine scifi mech game Mecha BREAK and continuously optimize anime game Snowbreak: Containment Zone.

Mr. Jun LEI concluded, “In 2023, our core businesses have steadily advanced. In 2024, Kingsoft Office Group will firmly seize the opportunities of digital economic development and continuously explore the business opportunities of digital office services. We will continue to carry out product innovation and user experience optimization around ‘multi-screen, cloud, content, collaboration, AI’ to continuously improve service quality and provide individual and institutional users with more efficient and intelligent office solutions. At the same time, we will deepen our presence in the field of wuxia games and make progress in the new genres of sci-fi mech games, bringing players all-new gaming experience. Looking ahead, we will continue to leverage technology, embrace AI and seize new opportunities to pursue high-quality and sustainable development.”

About Kingsoft Corporation Limited

Kingsoft is a leading software and Internet services company based in China listed on the stock exchange of Hong Kong. It has three main subsidiaries including Kingsoft Office, Seasun and Kingsoft Shiyou. Following the implementation of its “mobile internet transformation” strategy, Kingsoft has completed the comprehensive transformation of its overall business and management models, and formed a strategic platform with office software and interactive entertainment as the pillars and cloud services and AI as the new directions. The Company has more than 7,000 staff around the world and enjoys a large market share in China. For more information, please visit http://www.kingsoft.com.

 

Kingsoft Investor Relations:

Yinan Li Tel: (86) 10 6292 7777 Email: ir@kingsoft.com

For further queries, please contact Wonderful Sky Financial Group:

Angie Li  Tel: (852) 6150 8598  Email: po@wsfg.com

Jason Lai  Tel: (852) 9798 0715  Email: po@wsfg.com



Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Quam Plus Financial Hosts Hong Kong Conference of Global Alliance Partners on Mar 18-19

HONG KONG, Mar 20, 2024 – (ACN Newswire) – Quam Plus International Financial Limited (“Quam Plus Financial” or the “Group”), recently hosted a two-day conference of Global Alliance Partners (GAP) on 18 to 19 March 2024.

GAP is an international network of regulated financial services companies that focuses on the capital midmarket. Established in 2008, Gap has been bringing together nearly a hundred local corporate leaders and professionals from around the world regularly to facilitate the exchange of investment opportunities.

The annual conference of this year is led by Chairman Mr. David Grayson, and invited Mr. Joseph H. L. CHAN, JP, Under Secretary for Financial Services and the Treasury, representing the Government of Hong Kong SAR, and Governor Hermilando Mandanas of Batangas in the Philippines, as special guests. The two guests shared their valuable insights on the investment markets in China, Hong Kong, and the Philippines during the conference.

In addition to the local participants, the conference welcomed overseas partners such as Capital Partners Securities from Japan, Petra Capital based from Australia, Quadrillion from Dubai, WeCap Financial from Philippines, Pi Securities from Thailand and Southern Bridge Capital from Latin American.

Mr. David Grayson, GAP Chairman 

During his opening remarks, Dr. Kenneth Lam, Chief Executive Officer of Quam Plus Financial, addressed the current market conditions, acknowledging the volatility and weak sentiment that some believe may lead to a pessimistic outlook. However, he also highlighted that others see attractive market valuations and investment opportunities “I still believe that the current situation presents a combination of challenges and opportunities.”

Dr. Kenneth Lam, Chief Executive Officer of Quam Plus Financial

With GAP’s extensive network of global financial services companies and their dedication to providing innovative solutions made the conference a driving force in establishing connections between prominent and emerging markets. By facilitating closer communication, the conference demonstrated the tremendous value of collaboration and knowledge exchange in successfully navigating the dynamic realm of finance.

About Global Alliance Partners

Global Alliance Partners (GAP) is a network organization of international, mid-market financial services companies dedicated to delivering innovative solutions for our clients across private equity, corporate fund raising, stock broking and fund management. Partner firms have completed over 1,000 corporate transactions worth a total of almost US$34 billion in 60 countries; and manage or advise close to US$6 billion worth of individual and institutional funds. Global Alliance Partners bridges the gap between investment opportunities in leading, emerging, and frontier markets, and key sources of investment risk capital. It is composed of 14 fully licensed Member Firms whose scope and reach, including their respective affiliate companies, span 28 countries in strategic markets in Asia, Europe, the Middle East, North America, and Sub-Saharan Africa, providing a truly global reach.

About Quam Plus International Financial Limited

Quam Plus International Financial Limited (the “Company”, Stock Code: 00952.HK) is a Hong Kong based financial services group which is listed on the Main Board of the Stock Exchange of Hong Kong Limited. The Company was publicly listed in Hong Kong in 1997, it is committed to building a comprehensive, full-licensed integrated financial platform. The core businesses of the Company are brokerage business, interest income business, corporate finance business, asset management business and investments and others businesses. The Company strives to become the ideal partner for both corporate and individual investors in Hong Kong and China. The Company also offers premier one-stop financial services to its clients. The Company continued to provide capital markets services through its representative office or the wholly-owned foreign enterprise in Shenzhen, Shanghai, Shenyang, Ningbo, Beijing, Chengdu, Hangzhou and Xiamen of the PRC and through its networks of Global Alliance Partners network and Oaklins International.

For further information, please contact:

Quam IR Limited

Mandy Lo Tel: (852) 2217-2753 Email: mandy.lo@quamgroup.com

Charlie Chan Tel: (852) 2217-2504 Email: charlie.chan@quamgroup.com 

 



Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Chirpley Joins NVIDIA Inception

Amsterdam, Mar 20, 2024 – (ACN Newswire) – Chirpley today announced it has joined NVIDIA Inception, a program that nurtures startups revolutionizing industries with technological advancements.

Chirpley is the world’s first automated peer-to-peer, all-in-one influencer marketplace specifically focused on nano and micro influencers. Chirpley focused on leveraging AI technologies to provide tailored matchmaking for brands and influencers, ensuring efficiency, fair evaluation, and data-driven approach to maximize the reach of marketing incentives.

Chirpley plans to use the resources available through NVIDIA Inception, including utilizing NVIDIA most advanced technology assistance and top-notch expertise in AI hardware. The program will also offer Chirpley the opportunity to collaborate with industry-leading experts and other AI-driven organizations.

“NVIDIA Inception is a major step for Chirpley and it’s an honor for us to be among the startups building the next era of AI-powered products. This opportunity marks a significant milestone in our journey, allowing us to use NVIDIA’s cutting-edge technology and deep industry expertise to accelerate our growth and innovation” – Job ter Horst, Founder & CEO at Chirpley.

NVIDIA Inception helps startups during critical stages of product development, prototyping and deployment. Every NVIDIA Inception member gets a custom set of ongoing benefits, such as NVIDIA Deep Learning Institute credits, preferred pricing on NVIDIA hardware and software, and technology assistance, which provides startups with the fundamental tools to help them grow.

About Chirpley

Chirpley is the world’s first fully automated, AI-driven, peer-to-peer, all-in-one influencer marketplace totally dedicated to nano and micro-influencers.

Media Contact
Marilyn Johnson
Chirpley
media@chirpley.ai



Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

The Executive Centre Unveils its Newest Centre at JP Tower in Tokyo, Japan

Japan, Mar 20, 2024 – (ACN Newswire) – The Executive Centre (“TEC”), the leading premium flexible workspace provider that serves more than 47,000 Members in 34 cities across Asia-Pacific and the Middle East, announces the grand opening of its latest centre at JP Tower in Tokyo. Strategically situated adjacent to Tokyo Station in the Marunouchi district, JP Tower stands as an iconic landmark renowned for its seamless blend of contemporary sophistication and preserved historical heritage.

The JP Tower Centre marks a significant milestone as TEC’s tenth establishment within the vibrant landscape of Tokyo and Yokohama. Boasting an optimal location and impeccable design, the JP Tower Centre exemplifies sophistication and modernity, offering businesses an exceptional workspace experience sprawling across an expansive floor space of over 24,000 sq ft. This new centre opening is a testament to the consistently high demand and occupancy rates of around 90% throughout TEC centres across Japan.

Located on the fourteenth floor, one of the standout features of the JP Tower Centre is the lounge area, offering panoramic views of Tokyo Station through expansive windows. The lounge area is designed with a corporate and upscale ambiance, featuring a tasteful colour palette and premium materials. At its heart is a fully stocked bar area, where Members can enjoy a curated selection of premium coffees, alcoholic beverages, and delectable food items. The lounge area, furnished with Timothy Oulton furniture renowned for its vintage designs, creates an environment that exudes both comfort and sophistication, fostering networking and collaboration among Members.

Adjacent to the lounge is a dedicated coworking area that provides a tranquil setting for focused work. This thoughtfully designed space offers a diverse array of seating styles, catering to various working preferences. The incorporation of natural aesthetics, such as wooden accents and touches of greenery create a harmonious environment that enhances productivity and well-being.

Moreover, the JP Tower Centre boasts well-designed meeting rooms, including a spacious boardroom that comfortably accommodates up to 14 people. These meeting rooms are equipped with state-of-the-art technology, including Magic Glass walls that seamlessly transition between transparent and opaque states, ensuring privacy and convenience during presentations or confidential discussions.

The private office spaces within the JP Tower Centre offer unparalleled panoramic views, spanning from Tokyo Station to the Imperial Palace. Each unit is meticulously curated with signature elements of The Executive Centre, including ergonomic Herman Miller chairs and state-of-the-art 9am height-adjustable automatic standing desks. Security and convenience are prioritised with Salto Bluetooth locking systems on the doors, ensuring the utmost safety and ease of access for occupants.

“We are delighted to open our newest centre at JP Tower in Tokyo,” said Hiroteru Nin, Country Director of Japan at The Executive Centre. “With its prime location, remarkable design, and exceptional facilities, the JP Tower Centre is poised to provide businesses with a prestigious and productive workspace. We are committed to delivering the highest standards of service and creating an environment that fosters success for our clients.”

The opening of the JP Tower Centre reinforces The Executive Centre’s position as the leading provider of premium flexible workspace solutions in Asia. With its range of amenities and flexible workspace options, the centre is poised to meet the diverse needs of businesses looking for a prestigious and well-equipped workspace in the heart of Tokyo.

About The Executive Centre

The Executive Centre (TEC) is Asia’s premium flexible workspace provider, opened its doors in Hong Kong in 1994 and today boasts over 200+ Centres in 34 cities and 15 markets. It is the third largest serviced office business in Asia.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organisation to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organisations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first class Private and Shared Workspaces, Business Concierge Services, and Meeting & Events facilities to suit any business’ needs.

www.executivecentre.com

 

Press Enquiries
The Executive Centre
Pebble Lee
Pebble_lee@executivecentre.com / +852 3951 9888



Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Li Ning Company Continued to Pursue the Core Strategy of “Single Brand, Multi-Categories, Diversified Channels”, Focused on Core Categories to Achieve Stable Development

HONG KONG, Mar 20, 2024 – (ACN Newswire) – Li Ning Company Limited (the “Company” or “Li Ning Company”; together with the subsidiaries, collectively, the “Group”; stock codes: 2331 (HKD counter) and 82331 (RMB counter)) announces today its 2023 annual results for the year ended 31 December 2023 (the “year”).

FINANCIAL HIGHLIGHTS

During the year, we pursued stable progress and took proactive measures in planning, and recorded the following operating results:

– Revenue increased by 7.0% to RMB27,598 million, gross profit margin remained at 48.4%

– Net operating cash inflow increased by 19.8% to RMB4,688 million

– Net profit attributable to equity holders was RMB3,187 million with net profit margin of 11.5%; while excluding the one-off gains and loss not related to operation, net profit attributable to equity holders was RMB3,046 million with net profit margin of 11.0%

Working capital remained at a healthy level:

– The percentage of gross average working capital to revenue was 7.6%

– The cash conversion cycle was 35 days

The Board has recommended the payment of a final dividend of RMB18.54 cents per ordinary share for the year ended 31 December 2023, together with the interim dividend of RMB36.20 cents per ordinary share paid in September 2023, the total dividend for the year ended 31 December 2023 will amount to RMB54.74 cents per ordinary share or a total dividend payout ratio of 45%.

OPERATIONAL HIGHLIGHTS

The retail sell-through for the overall platform increased by low-teens, including online and offline channels.

Channel inventory decreased by mid-single-digit comparing to end of last year. The inventory turnover and ageing structure remained at a healthy level.

Offline channel new product sell-through increased by low-teens.

Financial Results

In 2023, the Group continued to focus the core strategy of “Single Brand, Multi-categories, Diversified Channels” with a focus on professional sports in the five core categories, namely basketball, running, fitness, badminton, and sports casual. Through its efforts dedicated to brand reputation and product innovation, the Group has developed a comprehensive layout of functional products. In 2023, the Group’s revenue grew steadily, demonstrating strong resilience. During the year, the Group’s revenue for the year ended 31 December 2023 amounted to RMB27,598 million, representing an increase of 7.0% as compared to that of 2022 (2022: RMB25,803 million). Gross profit increased by 6.9% to RMB13,352 million compared to RMB12,485 million in 2022. The overall gross profit margin was 48.4%, which is on par with last year (2022: 48.4%).

In 2023, in the context of the overall recovery accompanied by challenges in the domestic market, the Group prioritized the optimization of business quality and efficiency, with a focus on the direction of steady development. During the year, the net profit attributable to equity holders was RMB3,187 million (2022: 4,064 million). The margin of profit attributable to equity holders was 11.5% (2022: 15.7%), while excluding the one-off gains not related to operation, net profit attributable to equity holders was RMB3,046 million with net profit margin of 11.0%. Return on equity attributable to equity holders was 13.1% (2022: 17.9%). Basic earnings per share was RMB123.21 cents (2022: RMB155.38 cents). The Board has recommended the payment of final dividend of RMB18.54 cents per ordinary share for the year ended 31 December 2023, together with the interim dividend of RMB36.20 cents per ordinary share paid in September 2023, the total dividend for the year ended 31 December 2023 will amount to RMB54.74 cents per ordinary share or a total dividend payout ratio of 45%.

In terms of cash flow management, the Group’s net cash generated from operating activities during the year amounted to RMB4,688 million (2022: RMB3,914 million). As at 31 December 2023, cash and cash equivalents (including cash at banks and in hand, and fixed term deposits with original maturity of no more than three months) amounted to RMB5,444 million, representing a net decrease of RMB1,938 million, as compared with the position as at 31 December 2022. Adding back the amount recorded as fixed-term deposits held at banks, cash balance amounted to RMB17,975 million, which represented a net decrease of RMB1,074 million as compared to 31 December 2022. During the year, the Group maintained a healthy level of operating capital, and the net cash generated from operating activities increased compared to the previous year. The Group will continue to place extra emphasis on its cash flow management to ensure stable development of the Group in the long run.

Operational Summary

In 2023, the Group continued to focus on the core strategy of “Single Brand, Multi-categories, Diversified Channels” and optimized LI-NING’s experience value continuously.

In terms of professional products, with a focus on the core categories of running, basketball, badminton, fitness and sports causal, the Group pressed ahead with innovation in sports technology and integrates Chinese culture and trendy sports designs to enhance its products trendiness. The Group also constantly improved product performance and enhanced the image of the LI-NING brand by means of technological innovation, so as to satisfy the growing consumer demand for sports products. The Group focused on building the competitive advantages of products from its core categories. Capitalizing on its continuous investment in research and development to promote product innovation, the Group strived to garner recognition among young consumers with its highly professional and fashionable quality sports products.

In respect of branding and marketing, the Group strengthened the universal marketing layout by focusing on the characteristics of the professional functions and sports casual category. Through the continuous cooperation with sports stars and professional events, the Group has reinforced the professional image of LI-NING’s professional products among consumers and further scaled up its consumer groups. Moreover, LI-NING further diversified the marketing strategies for the sports causal category. A platform was also established for direct communication with consumers. Such measures have helped increase the influence of LI-NING brand and consolidate consumers’ loyalty to the brand, and thus realized omni-channel and multi-dimensional exposure of its products. Meanwhile, the Group enhanced operational efficiency and competitiveness through organizational optimization and capability development, paving the way for an organizational dynamic and skill set that supported the brand’s vitality.

In respect of channel management, the Group was committed to optimizing its channel structure and enhancing the channel efficiency by proactively closing low-efficiency stores, thereby improving the overall store structure. The Group continued to expand its business presence in premium shopping malls and outlets. During the year, the Group achieved a key breakthrough in premium outlets. It carefully planned the opening of stores throughout China to further rationalize the store layout and established communication and negotiation mechanisms with major commercial groups to optimize channel costs.

As of 31 December 2023, the number of conventional stores, flagship stores, China LI-NING stores, LI-NING 1990 stores, factory outlets and specialty stores under LI-NING brand (including LI-NING Core Brand and LI-NING YOUNG) amounted to 7,668, representing an increase of 65 POS as compared to 31 December 2022. The number of distributors was 46 (including sales channels of China LI-NING stores), representing a net decrease of 6 as compared to 31 December 2022.

In terms of store operation, through continuous exploration and optimization of the single-store operation model, the Group has upgraded the single-store operation model to the stage 2.0, developing a system comprehensively optimized from planning to execution and from processes to results. The Group also established an additional retail operation and execution team to realize a management loop of “order giving by headquarters, information confirmation by retail end, business execution by stores and supervision by headquarters” and ensure the normalized management of business execution. Meanwhile, the development of the four core competencies in the new retail business enabled the Group to enhance interaction among communities and profitability driven by live streaming, improve the out-of-store shopping experience and upgrade the overall consumer experience through standardized content production processes and digital tools.

In respect of logistics system, the Group advanced the development of regional central warehouses and ensured transparency throughout the logistic information chain of products through logistics informatization. The East China Smart Logistics Centre in Jiading Shanghai commenced operations, and with the continued improvement in the quality of the logistics network, the quality and timeliness of direct delivery of products to directly-operated stores and wholesale stores have been enhanced significantly. The full launch of the logistics management platform realized the all-round coverage of the logistics business scenarios by the middle-end information platform, which streamlined the processes and enhanced the efficiency at retail front. In particular, the launch of the warehouse automation project boosted the efficiency of logistics operations, providing better services to consumers in East China region and across the country.

In respect of supply chain, the Group has further strengthened its flexible supply system, giving play to its technological advantages in products. Focusing on building a sustainable supply chain, the Group has shifted from “passive production” to “proactive production”, and created greater value through further development of the “value supply chain” by reducing wastage and enhancing efficiency. At the same time, the Group has established an equal and win-win relationship with the suppliers to jointly fulfil its environmental and social responsibilities, promoted the development of environmentally-friendly products, and continuously upgraded its product strengths through innovations to provide better consumer experience.

In respect of the e-commerce, in 2023, despite the profound changes and severe challenges faced by the entire e-commerce industry, the e-commerce team of Li Ning Company remained focused on high-quality products and strived to organize innovative and diversified marketing campaigns in combination with festival events on e-commerce platforms, ensuring a stable and orderly development of all business operations. Adhering to its focus on functional products, the e-commerce of Li Ning Company continued to consolidate its market position in the professional basketball shoes category and proactively explored new growth drivers. With in-depth consumer insight and effective communication, the e-commerce of Li Ning Company accurately captured the diversified needs of consumers and adopted scenario-based marketing strategies to increase business volume.

In terms of kidswear business, LI-NING YOUNG proactively consolidated its market positioning as a professional brand and enhanced market confidence by strengthening brand image management and improving the brand image of benchmark stores. In terms of product development, LI-NING YOUNG continued to optimize its product lines and refine its product structure, particularly professional products for sports such as basketball, running and football. In terms of channel strategy, LI-NING YOUNG insisted on benchmarking against quality projects to enhance brand recognition. For marketing, LI-NING YOUNG consolidated its marketing resources, pushed forward the implementation of integrated marketing campaigns and actively explored omni-channel marketing and community operation. As of 31 December 2023, LI-NING YOUNG had a total of 1,428 stores. The Group will continue to intensely develop its kidswear business. Leveraging the LI-NING brand, the Group will enhance the marketing efforts of the kidswear brand, take a product-focused approach to upgrade core product technology and design, and advance the exploration of market demands and product categorization. Consistent efforts will be devoted to channel expansion, retail operations and supply chain resources, so as to develop LI-NING YOUNG into a leading professional sportswear brand for kids in China.

OUTLOOK

The Group will continue to follow its core strategy, namely the “Single Brand, Multi-categories, Diversified Channels” strategy, focus on the seven major segments under business transformation, and push forward the implementation of key strategic tasks in an orderly manner, and accelerate the pace of reforms in order to further promote the growth and profitability of the LI-NING brand.

— Implement a dual-driven strategy of merchandise and products. The Group will continue to improve its product portfolio and optimize the types of product and price matrix. Meanwhile, the Group will also continue to explore new sports scenarios, develop the market segments of sports product category, and incorporate fashion elements into its professional products to better showcase the sports fashion culture and provide consumers with diversified consumer experiences, thereby expanding the influence of the brand;

— Enhance investment in research and development and promote innovation-driven development. The Group will continue its efforts in the research and development for improvement of product functions and technological innovation, so as to provide consumers with more professional and functional sports products integrated with fashionable elements, which will better showcase the sports fashion culture. Meanwhile, the Group will continue to optimize the professional product matrix and increase the proportion of professional products by upgrading the fabrics and enhancing the technological attributes of products;

— Accelerate the establishment of the general e-commerce business system. The Group will strengthen cooperation with mainstream e-commerce platforms to expand online sales channels and increase brand exposure and sales. It will also further enhance the user experience and functions of e-commerce platforms, optimize the shopping process and increase the conversion rate. In addition, through precise marketing strategies, the Group is able to enhance user stickiness and loyalty, resulting in a two-way transformation of the online and offline consumption scenarios;

— Optimize the efficient retail model. The Group will continue to optimize its efficient channel layout to provide more excellent product experience, shopping experience and sports experience. In the future, the key objective of the Group is to accelerate the rectification of low-efficiency stores with the focus on enhancing store efficiency as our main goal. On the basis of refined operations, the Group will continue to improve the efficient retail model and develop the replicability and scalability of the model, so as to provide professional safeguard for the new business layout;

— Upgrade the supply chain system. The Group will continue to strengthen the building of fundamental supply chain capabilities and improve its structure to enhance the flexibility and rapid response ability of the supply chain in order to flexibly adapt to the market changes. It also matches with high quality supply chain resources to ensure the safety, efficiency and stability of LI-NING’s supply chain. New supply chain resources will be introduced according to the changes in demands to further optimize the supply chain matrix. The Group aims to accelerate the upgrade and reform of product development progress system by continuous reform and innovation, creating competitive advantages and deeply cooperating with strategic suppliers. It also facilitates the establishment of supply chain information system to achieve the digital transformation of both upper and lower streams of supply chains;

— Develop marketing consolidation and closed-loop consumer operation. The Group will place emphasis on the investments in marketing resources and strive to upgrade our professional brand image as well as enhance consumers’ awareness of LI-NING brand with an aim to establish the brand as their first-choice professional sports brand. The Group will actively promote community operations to attract marketing traffic, and accomplish the conversion of high-quality traffic into revenue, thereby fostering a completely closed-loop consumer operation. In 2024, the Group will make full use of its professional resources to conduct universal marketing oriented with competitions and events, organize online and offline community operations to strengthen consumer awareness. Meanwhile, it will actively develop long-term relationship with customers based on brand values;

— Carry out a comprehensive personnel system reform. By optimizing the internal management processes and incentive mechanisms, the creativity and motivation of employees will be encouraged. The Group will build an efficient and professional team by nurturing and introducing high-calibre talents. Through these measures, the Group expects to enhance the overall organizational effectiveness and ensure that the Group will maintain its leading position under fierce market competition.

Mr. Li Ning, Executive Chairman and Joint CEO of the Group, concluded, “With the continuous support and encouragement of the national policies, the Group will continue to delve into China market, and contribute to the fulfilment of the noble national blueprint of building a “strong and healthy sports nation”. The Group will focus on its main business, keep abreast of the ever-changing consumer market. Upholding the spirit of “Anything is Possible”, it will continue to launch sports products of higher quality for the society and public, and facilitate the Chinese sports industry to expand its global presence, so as to make contribution to the development of Chinese sports industry.”

About the Group

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

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



Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

DEXIS Enhances its Dental Implant Ecosystem with Intraoral Scanning Software Update – DEXIS IS ScanFlow

QUAKERTOWN, PA, Mar 19, 2024 – (ACN Newswire) – Earlier this year, DEXIS launched its dental implant ecosystem so clinicians can manage their entire implant workflow, from diagnosis to delivery, with one integrated toolset. To enhance workflow efficiencies, DEXIS announces the release of a new intraoral scanning update, DEXIS™IS ScanFlow v.1.0.10. The update includes a new series of guided workflows, enhancements to its AI capabilities, and an integration with DEXIS Imaging Suite software version 10.

“We are excited to introduce our latest DEXIS intraoral scanning software update, aimed at boosting productivity for DEXIS software owners and implant workflows,” says Brian Gooch, VP of Marketing at DEXIS. “We’ve made scanning fast and easy, even for more complex situations. Digital impression data is important for implant case planning, so we enable highly accurate data to be incorporated into chairside or open workflows, and easily shared with labs or colleagues.”

The IS ScanFlow software update maintains high-speed scanning, user-friendly interface, precise data capture, and an open, flexible system. Early adopters have provided positive feedback, highlighting the system’s ease of use and its ability to reliably capture accurate data.

Early adopters have reported positive feedback, highlighting the wide range of cases they’re able to accurately capture data for:

“The DEXIS IS 3800W intraoral scanner and its predecessors have enabled me to apply digital dentistry to all my prosthetic and implant cases,” says Dr. Sebastian Patzelt. “Now, with the new AI applications in DEXIS IS ScanFlow, I’m able to digitize the soft and hard tissues of the oral cavity for fixed, removable or implant cases accurately and efficiently. *”

IS ScanFlow v1.0.10 aims to maximize productivity through AI-driven tools for dentists.

The new release adds a brand-new AI Matching tool that simplifies data capture in complex situations like multiple scan bodies, full and partial edentulism.

It also includes algorithm enhancements to its Implant Scan Body AI Assist tool which automatically detects scan bodies and reduces noise in the data, corrects artifacts and enhances details – furthering the automation of precise data capture.

IS ScanFlow v 1.0.10 introduces guided dental workflows to cut manual tasks and simplify processes.

Users now have the flexibility to fill out case information before initiating scanning or after completion, thanks to the new CaseFlow Manager tool. Regardless of the chosen option, users can then move into an easy, guided workflow that automates manual processes, predicts next steps, and assists in acquiring data for the selected indication.

The brand-new Full Arch Implant workflow guides users through the data-capture workflow for a full arch case and then automatically aligns the scans in occlusion, allowing for one consolidated dataset to send to a lab or manufacturer.

IS ScanFlow v 1.0.10 also facilitates efficient lab communication by enabling users to view case progress and real-time lab status updates directly within the Patient History screen. This allows easy collaboration, reduction in delays, and timely completion of tasks.

IS ScanFlow integrates with DTX Studio™ Clinic to connect the implant workflow

“The true power of IS ScanFlow is seen when paired with the core of the DEXIS implant ecosystem-DTX Studio Clinic,” says Brian Gooch, VP of Marketing at DEXIS. “Packed with smart tools and advanced algorithms, DTX Studio Clinic serves as the clinic’s imaging homebase, diagnostic hub, and treatment planning navigator. It connects each step of the implant process together and now, when purchased with an intraoral scanner, comes at no extra cost.

“Implant workflow productivity can be maximized by integrating IS ScanFlow into the rest of the tools and software within the DEXIS digital ecosystem – where practices can manage an entire implant case, from diagnosis to delivery, with one integrated toolset.”

To learn more about DEXIS and the latest IS ScanFlow software version, visit https://www.dexis.com.

About DEXIS

DEXIS has been a global leading brand in digital radiography for 70+ years. Today, DEXIS has brought together the most trusted brands in 3D imaging, intraoral scanning solutions, and diagnostic software to provide patients with a complete digital diagnostic solution under a brand name. Our innovative award-winning technology enhances how the patient is diagnosed, accelerates the workflow, and delivers simple treatment paths with better patient outcomes. For more information, please visit https://www.dexis.com.

*Dr. Robert Pauley is a paid consultant for DEXIS

Contact Information
Hayley Reed
Regional Marketing Director, DEXIS IOS
hayley.reed@envistaco.com
(714) 628-8533

SOURCE: DEXIS

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View the original press release on newswire.com.



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