HONG KONG, May 24, 2021 – (ACN Newswire) – The award presentation ceremony of Quam IR Awards 2020 ('QIRA' or 'The Awards') successfully took place on 24 May, 2021 at Four Seasons Hotel Hong Kong. Eminent representatives of listed companies from different sectors supported the event, sharing joy and the valuable experience in Investor Relations achievements.

Industry Leaders Gather at Quam IR Awards 2020, Recognizing Excellence in Investor Relations
Quam IR Awards is proud to recognize and reward the very best listed company in investor relations industry. The winners of the QIRA have opened the door of communication through diversified channels, representing the tact and professionalism of investor relations. The keen enthusiasm for the 6th Quam IR Awards can be seen from the entries. A total of 13 companies have differentiated themselves from their competitors to won the Awards.

At the ceremony, Mr. Richard Winter, Chairman of China Tonghai Capital (Holdings) Limited, said "2020 was a challenging year, especially for IR teams when needing to communicate with the investment community during the COVID outbreak. Leveraging collective efforts at business community, we certainly will overcome the difficulties. Let us look forward to a better year ahead." Mr. Stacey Wong, Chief Operating and Risk Officer of Tonghai Financial Group, said "Hong Kong has faced unprecedented challenges in the past two years. While we are beginning to see light at the end of the tunnel as vaccines become available, the economy will take some time to recover. However, businesses will still face choppy waters and a tough time ahead. It is therefore imperative that we should maintain close dialogue with stakeholders and uphold a high standard of transparency to reinforce investor confidence."

Receiving Widespread Recognition and Unfailing Support
Tonghai IR was honoured to invite Dr. Bernard Chan, JP, Under Secretary for Commerce and Economic Development; Mr. Joseph Chan, JP, Under Secretary for Financial Services and the Treasury; Prof Seen-Meng Chew, Associate Dean for External Engagement at CUHK Business School and Prof. Xu Yan, Associate Dean at HKUST Business School as our guests of honour to witness such grand occasion.

Apart from the support of notable guests, the award presentation ceremony attracted numerous media and sponsors in Hong Kong and mainland China. Our supporting media partners include The Standard, caiguu.com, FX678, StockStar, SLTopnews and FX168. Tonghai IR is grateful for the strong support and generous sponsorship from PINKBOX and HKTaxi, which make Quam IR Awards 2020 a success.

The list of awardees for Quam IR Awards 2020 (in alphabetical order of company name):
Stock Code Company Name
Hong Kong Index Constituents (Hand Seng Index) Category
0267 CITIC Limited
0017 New World Development Company Limited
2382 Sunny Optical Technology (Group) Company Limited

Mainboard Category
1530 3SBIO Inc.
3383 Agile Group Holdings Limited
1050 Karrie International Holdings Limited
0173 K. Wah International Holdings Limited
1989 Pine Care Group
2878 Solomon Systech (International) Limited
0826 Tiangong International Company Limited
6158 Zhenro Properties Group Limited

First Year After Listing Category
0826 Antengene Corporation limited

Sustainable Development Category
0992 Lenovo Group Limited

Website of Quam IR Awards 2020: http://eventedm.tonghaiir.com/QIRA2020-21/

For enquiries,
Tonghai IR
Marketing & PR contact:
Jane Chan T: 2217-2888 Email: jane.chan@tonghaifinancial.com
Mandy Lo T: 2217-2753 Email: mandy.lo@tonghaifinancial.com
Charlie Chan T: 2217-2504 Email: charlie.chan@tonghaifinancial.com


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HONG KONG, May 14, 2021 – (ACN Newswire) – Man Wah Holdings Limited ("Man Wah" or the "Group", stock code: 1999) today announced its audited annual results for the year ended 31 March 2021 ("FY2021" or the "Review Year"). During the Review Year, Man Wah actively promoted the development of its domestic business, enabling the Group to overcome effectively the adverse external impact on its business. The Group's market share in China's recliner sofa market has expanded to 59%, an achievement which has made it the world's top seller of recliner sofas for three consecutive years.

In FY2021, the Group's sales revenue (excluding those from real estate, malls and other businesses) increased by 35.3% to HK$16.43 billion as it received a strong boost from sales revenue in the China market where revenue significantly increased by approximately 61.9%. Profit Attributable to Owners of the Company expanded by 17.5% to HK$1.92 billion. Net profit margin was approximately 11.7%. As of 31 March 2021, the Group was in a sound financial position, with a bank balance and cash of approximately HK$2.4 billion, and a current ratio at 1.4.

To reward shareholders for their long-term support, the Board has proposed a final dividend of HK16 cents per share. Together with the interim dividend of HK10 cents that was already paid, the total dividend for the year amounted to HK26 cents per ordinary share, representing a dividend payment ratio of 52.7% and an increase of 8.4 percentage points compared to the dividend payment ratio of 44.3% in the previous year.

Business Review

China Market
During the Review Year, China's overall economy faced daunting challenges posed by the pandemic, but opportunities emerged as consumption recovered and demand for household products expanded. By employing effective store expansion, marketing and store operation, vigorous development of e-commerce sales, and active promotion of business model innovation, the Group gained more market share in the Chinese furniture market and it achieved strong revenue growth. Revenue from its main business in the China market expanded by 61.9% to HK$9.98 billion, accounting for more than 60% of the Group's total revenue during the Review Year, and serving as its principal growth driver.

As of 31 March 2021, the Group had a total of 4,122 "CHEERS First-class Cabin" brand sofa and "CHEERS Five-star Mattress" brand stores in China. During the Review Year, the Group achieved a net increase of 1,125 in the number of its brand stores.

As regards online sales, the Group continued to enhance its sales on Tmall, JD.com and other e-commerce sales platforms, and it also actively promoted the live broadcast sales model. Using short video promotions, live broadcasts of its own stores, and in-depth collaboration with leading online streamers, the Group achieved a substantial expansion of business volume, fans base and brand influence. In addition, the Group also made active deployments in new retail business and it also undertook an integration of its online and offline business, a strategic move which drove online sales to grow by a very hefty approximate of 41.0% to HK$2.19 billion.

North America market
Although the Group's business was adversely affected by its strategy of shifting from exports to domestic sales amid the pandemic overseas, its export orders to North America resumed their rapid growth in the second quarter of 2020, marked notably by sales revenue of its main business from the North America market which rose by approximately 30.5% to HK$4.58 billion. The capacity of the Group's new plant in Vietnam, which started operating in 2020, increased rapidly, with most of the productions carried out for the U.S. customers have been basically transferred to the Vietnam plant, effectively mitigating the adverse impact of tariffs imposed by the US government.

Europe and other Overseas Markets
During the Review Year, the Group's revenue in Europe was inevitably affected by the impact of Brexit and COVID-19. However, revenue from its main business (excluding that from the Home Group) in Europe and other overseas markets only decreased by 6.5% to HK$876.6 million.

The Home Group had five sofa manufacturing plants in Poland, the Baltic States and Ukraine which are mainly engaged in the design and production of stationary sofas and sofa beds. Products of the Home Group are sold to many European furniture retailers. Revenue from its main business increased by 2.7% from the level in the same period last year.

Prospects
China's large population has indeed created a huge consumer market. In view of this, the Group will continue to strengthen its core competitiveness and branding in recliner sofas to maintain its leading position in the industry. It will also continue to raise its core competitiveness and build stronger barriers by further enhancing innovation and intelligent automation of iron frames and motors, representing moves that will ultimately reduce product costs and enable the attainment of price advantages. Since recliner sofas provide higher cost-performance and better styles, coupled with the introduction of e-commerce, live streaming, TikTok, and other measures, the Group has accelerated the exposure and recognition of recliner sofas. Looking ahead, Man Wah will continue to improve consumer experience on recliner sofas in both offline and online stores via experimental scenarios so as to create a better sales conversion rate.

With the easing of the pandemic and recovery of the economy, the export markets for recliner sofa will gradually pick up, with orders resuming their growth. In view of this, Man Wah has established its own brand "MW Home" in the North American market, and its export sales have posted growth. The Group also plans to expand its exports of stationary sofas, and produce more diversified and competitive products, as well as actively exploring more new customers, so as to maintain stable development of its export business.

Dr. Wong Man Li, Chairman of Man Wah, said, "Chinese consumers are giving more focus on comfort from household products. In view of this growing demand, the Group will continue focusing on stationary sofas, but it has also added more experiential functions and improved comfort of its recliner sofa products, providing consumers with a much enhanced experience. Thanks to the self-supply of core components, we are able to offer recliner sofas at more cost-effective prices to a wider range of families, while meeting rigid market demands. In the current market marked by low market share and differentiation, we insist on creating differentiated products and experiences for consumers in order for the Group to better achieve scale advantages and accelerate the penetration rate of our products in the soft market in the future, and bring better returns to our shareholders."



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BANGKOK, May 10, 2021 – (ACN Newswire) – Ngern Tid Lor PCL (SET: TIDLOR) received a warm welcome from investors on the Stock Exchange of Thailand today closing 25% higher at THB 45.75 per share with a trading volume of more than THB 33 billion. TIDLOR became the largest IPO ever in the Thai Finance and Securities Sector, as well as one of the five largest IPOs ever in the history of the Thai equity market, with a total offering size of THB 38,089 million (including an overallotment option) and market capitalization at the IPO price of THB 84,643 million, demonstrating Ngern Tid Lor's strong fundamentals as the leading vehicle title loan-provider and top-3 retail-focused insurance broker, ensuring the Company' rapid growth.

Driven by technological innovation and an omni-channel distribution platform, Ngern Tid Lor is ready to take its success in listing on the SET to another level by expanding its network of branches and boosting efficiency. The company plans to continue to invest in improving technological and digital platforms in order to maintain its leadership status and create sustainable growth opportunities. Stabilization activities will be in place for a period of no more than 30 days following today's trade to support the stability of the share price in the secondary market.

Mr Piyasak Ukritnukun, Managing Director of Ngern Tid Lor PCL, with TIDLOR shares marking their debut on the SET today (May 10), said. "This is a very important day for Ngern Tid Lor, and we are honoured to join the Stock Exchange of Thailand. Ngern Tid Lor is one of Thailand's leading financial inclusion companies in the fragmented title loan and general insurance brokerage businesses. We are on a mission to help promote sustainable economic development by helping people gain access to fair, responsible, and transparent financial products and services. Our rapid growth has been driven by our strong corporate culture, unique omnichannel distribution platform, reputable brand, and innovative products and services."

Ngern Tid Lor's IPO was not only the largest Finance and Securities Sector IPO ever, and among the five largest IPOs in the history of the Thai market. The TIDLOR IPO also received an overwhelming interest from a broad range of investors, from leading Thai and global institutional investors to Thai general public retail investors, reflecting investors' confidence in Ngern Tid Lor's strong fundamentals and potential for sustainable growth in the future.

Ngern Tid Lor's mission is to provide access to fair, transparent and responsible financial services for financial betterment by offering relevant products and services that are simple to understand, convenient and fast through committed employees. The unique business model, combining financial services expertise, purpose-built technology and data analytics capabilities to effectively offer the right products for target customers via omni-channel distribution with 1,076 branches in 74 provinces and a customer referral network comprised of 5,132 representatives across 638 Krungsri Bank branches, 491 second-hand truck sales representatives, and 519 phone sales representatives. Customer acquisition from physical channels is further supplemented by online channels ranging from the Ngern Tid Lor website, application and Facebook, and TIDLOR Connect to fulfil the existing gaps and provide further access to financial services for citizens in Thailand.

The company's performance during 2018-2020 demonstrated a strong track record of consistent growth and profitability, generating THB 7,569.4 million, THB 9,457.9 million, and THB 10,558.9 million in revenues respectively and net profit of THB 1,306.2 million, THB 2,201.7 million, and THB 2,416.1 million respectively. Gross loans balance between 2018-2020 stood at THB 39,724.1 million, THB 47,979.4 million, and THB 51,331.2 million respectively, while the premiums of non-life insurance collected through end of year amounted to THB 1,917.7 million, THB 2,854.3 million, and THB 4,010.9 million respectively. Ngern Tid Lor has achieved outstanding risk management outcomes, delivering a rate of Non-Performing Loans to Total Loans of 1.7% along with a Coverage Ratio of 325.1% as of 31 December 2020.

Following its listing on the SET, Ngern Tid Lor is determined to maintain its leadership in the vehicle title loan business and to strive for the leading position in its insurance brokerage business in the future. To achieve such goals, the company will use the money from IPO to expand our lending and insurance brokerage business. Ngern Tid Lor plans to improve existing branches and expand additional 500 new branches by 2023 to provide wider coverage, invest and develop the IT system and digital transformation to strengthen business operations, and use a portion of the raised funds for working capital as well as capital restructuring in anticipation of steady and sustained growth in the future.

"Our fundraising through the IPO will enable Ngern Tid Lor to boost our potential for sustainable growth, strengthen our financial status, continue our investment in digital transformation and platform-building," says Mr. Piyasak. "Following our listing on the SET, Ngern Tid Lor is determined to be one of the leading-quality listed companies under the principle of creating fair, transparent and responsible financial opportunities for every Thai individual, while continuing to deliver steady and sustainable growth for the utmost benefits of our shareholders and all stakeholders."

This information is disseminated to investors who should study product features, conditions, and relevant risks before making investment decisions. This information shall not be considered as an offer for sale or recommendation for sale or reservation of securities. The securities that may be mentioned or referred to in this release have not been registered and will not be registered under the US Securities Act of 1933 ("the Securities Act"). The securities as mentioned in this document could not be offered for sale or sold in the USA, and will not be offered to the public in the USA.

Distributed by the Public Relations Department of MT Multimedia Co., Ltd. on behalf of Ngern Tid Lor PCL. Website: www.ngerntidlor.com/en/home.html.

For more information, please contact: Thiyaporn Sriadunphan (Dah), T: +66-87-556-6974, E: thiyaporn.s@mtmultimedia.com, MT Multimedia Co., Ltd.

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