HONG KONG, Mar 29, 2024 – (ACN Newswire) – Legend Holdings Corporation (3396.HK) announced its audited annual results for the year ended December 31, 2023 (the “Reporting Period”). The Company’s revenue for 2023 was RMB436,012 million (RMB, the same below), and the net profit was RMB630 million.

Against the backdrop of global economic slowdown, Legend Holdings’ operation performance temporarily suffered from pressure due to the fluctuations in the industry and capital markets; the profits contributed by Lenovo Group and Levima Group from the industrial operations segment, as well as the investment gain in the industrial incubations and investments segment, both recorded a year-on-year decrease, and the net profit attributable to equity holders of the Company recorded a loss. In response, the Company implemented proactive measures to help its subsidiaries accommodate market challenges and industry cycles’ influence and achieved initial success. Furthermore, the recovery of the capital market will boost the development of the Company’s investment businesses.

Mr. Li Peng, the Executive Director and Chief Executive Officer of Legend Holdings, said, in the year 2023, in the face of various challenges emerged in the high-quality development transformation of the enterprises, Legend Holdings remained resolute in advancing innovation-driven development strategies, proactively responded to the influence of external environment, solidly fulfilled its corporate social responsibilities, and actively integrated itself into the strategic deployment for Chinese path to modernization. Furthermore, the Company has conducted more in-depth review on its shortcomings and will be committed to coordinating high-quality development while maintaining a high-level of security. While further consolidating its foundations, the Company will fully capitalize on its accumulated strengths to seize opportunities from this new wave of technological innovation, not only to fuel the continuous improvements in its business performance but also actively contribute value to the society.

Strengthening the pillar industries and resolutely advancing innovation-driven enterprise transformation and upgrade

In 2023, Legend Holdings safeguarded the relative stability of its business foundations while implementing the new development concept in depth.

The Company accelerated the development of leading enterprises with international competitiveness and command over the industrial chain, focusing its efforts on strengthening its industrial base. Lenovo maintained its solid leading position in IT field, further consolidated its world’s No. 1 place in PC market with a significant outperformance in the market, ranking among the top three globally in the server industry, and retained as the No. 1 in the global TOP500 and Green100 in terms of high-performance computing. At the same time, Lenovo took the lead in launching the world’s first AI PC, and committed to leading the PC industry in intergenerational upgrade, and to creating the first inclusive AI terminal. After completing the domestic substitution of EVA photovoltaic adhesive film materials, Levima Advanced Materials has once again entered into the field of POE (Polyolefin elastomer), breaking the monopoly held by foreign countries in production and technology of POE, and multiple projects will be put into production in the first half of 2024. With the steady development of its businesses, Fullhan Microelectronics has made solid and in-depth efforts in the three major business areas of smart video, smart IoT and smart automotive products, accelerated the introduction of new products, penetrated new market opportunities, and possessed the capability of supplying complete one-stop solutions.

Continuously enhancing the ability in scientific and technological innovation, increasing investment in research and development, the Company continued to strengthen the exploration and practice of its AI innovation path. In 2023, the R&D expenditure of the Company reached RMB14.8 billion, raising its R&D expense ratio from 2.6% in 2021 to 3.4% in 2023. At the same time, it actively promoted its subsidiary funds to increase support for China’s innovative hi-tech enterprises, and invested in more than 100 Chinese innovative hi-tech enterprises throughout the year. In the field of artificial intelligence, which is an important engine for the development of new quality productive forces, the Company has invested in more than 200 related enterprises, formed a full-stack portfolio covering “device, technology, model, platform, and application”, securing a first-mover advantage for the development of the “AI+” initiative. On March 8, 2024, Legend Holdings entered into a strategic cooperation agreement with Zhipu AI to carry out in-depth cooperation in the field of artificial intelligence.

The Company continued to harness the role of industrial chain leader and actively promoted the digital and intelligent transformation and growth of SMEs, which has gained considerable achievements. Its subsidiary, Lenovo, can provided SMEs with not only a full matrix of smart devices, but also stable computing power for all scenarios, hybrid cloud, industry solutions, and life-cycle intelligent transformation services. It has served over a million SMEs and supported the intelligent transformation of over 30,000 specialized and innovative enterprises, including over 3,000 national specialized and innovative “little giant” firms.

The Company also strengthened its attention on early-stage technologies and explored approaches to integrated development across education, technology, talent, and industries. The “Legend Holdings Forward-looking Technology Research Institute , set up by the Company, has initially built an enterprise-led and market-oriented technology innovation system leveraging collaboration among industry, academia, research institutes, and end users. It has established connections with more than 60 enterprises and research institutions to discuss IP co-creation and cooperation modes, and preliminarily selected 39 seed technologies, and initiated in-depth cooperation with 2 universities and 7 domestic and foreign enterprises.

Practicing low-carbon development and actively fulfilling corporate social responsibilities

Legend Holdings has consistently promoted its subsidiaries to seize the green and low-carbon development and actively responded to the national strategy of carbon peaking and carbon neutrality. Lenovo was the first company in China to pass the net zero target verification by the Science Based Targets initiative (SBTi) and has zero-carbon factories with the highest-standard in the industry. Levima Advanced Materials, as a state-level High-tech enterprise and Green Factory, deepened its layout in green industries such as new energy materials and biodegradable plastics, contributing to the achievement of Chinese de-carbonization goals.

Rural revitalization and technological innovation are the focused areas of Legend Holdings for its corporate social responsibility. In terms of rural revitalization, the Company has launched the “Legend Enterprising Class” with a focus on education in underdeveloped areas, providing assistance for the talent pool of rural industry revitalization over the past 20 years. The Revolving Loans for Mothers, a project supported by the Company since 2018, has helped women from low-income families in many areas to start businesses with local characteristics, promoting their hometowns towards improving agriculture by high-quality and green products while giving first priority to effectiveness. In terms of technological innovation, the Company remained committed to building an entrepreneurial ecosystem conducive to technological innovation and supported the growth of high-tech entrepreneurial leaders. For instance, the public welfare training program for start-up CEOs launched in 2008 has admitted approximately 1,300 entrepreneurs. Currently, 55 enterprises founded by the trainees have been successfully listed, while 122 have been selected as national specialized and innovative “little giant” firm, providing employment for nearly 400,000 people.

Developing new quality productive forces and deepening the establishment of core competitiveness

The “give great impetus to the development of the modern industrial system and accelerate the development of new quality productive forces” proposed in this year’s government work report provided new guidance for the development of enterprises. In the future, the Company will focus more on “technological innovation”, fully capitalize on its 40 years of industrial accumulation, ecological layout and technological & innovative investment, highlight the development of new quality productive forces and deepen the establishment of the Company’s core competitiveness.

The Company will continue to promote the strategic transformation of itself and its subsidiaries to build a more robust industrial foundation; further optimize the business layout and financial structure, accelerate the backflow of resources, and incline to make investment in the field of scientific and technological innovation; in combination with the trend of the capital markets, the Company will actively promote the capital operation of quality enterprises to help them develop faster and become better, and effectively increase its public value; continue to give full play to the exploration and cultivation of the early-stage technologies by The Legend Holdings Forward-looking Technology Research Institute, with a focus on the forward-looking needs in three major fields of intelligent sensing, new materials and new energy. It will accelerate the advancement and implementation of innovative incubation topics which are our key layout, such as photonic integration to fill the shortcoming of AI’s new computing, biodegradable new materials for treating white pollution, and virtual power plant algorithms oriented for the optimization of the new type of electric power system.

Mr. Ning Min, Chairman and Executive Director of Legend Holdings, said, in 2023, in the face of multiple internal and external challenges, Legend Holdings, on the one hand, consolidated its industrial foundation and strengthened its risk-resistant capability, and on the other hand, put the implementation of the innovation-driven development strategy and support for high-level scientific and technological self-reliance in a more prominent position, confronted the difficulties, conducted positive explorations, and made solid progress in operations. This year marks the 75th anniversary of the founding of the People’s Republic of China, and in accordance with the deployment of the Central Economic Work Conference, the Company will stay true to its original aspiration of serving the country through industry, consciously practice the people-centered philosophy of development, and accommodate itself to the trend of the times by actively participating in scientific and technological innovation-led high-quality development, to vigorously promote the development of new quality productive forces and make greater contributions to Chinese path to modernization.

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

HONG KONG, Mar 29, 2024 – (ACN Newswire) – Gome Finance Technology Co., Ltd.(Stock Code:628.HK,“Gome Fin Tech”or “the Company”,with its subsidiaries,the“Group”), announced its audited annual results for the year ended 31 December, 2023 (the “Reporting Period”).

In 2023, the global geopolitical risks are frequent, the lack of economic recovery momentum and the widening trend of differentiation among countries are highlighted, and the risk spillover from European and US banks under the global high interest rate environment also casts a shadow over the global growth outlook. In the face of the risky international environment and the arduous task of domestic reform, development and stabilisation, the Chinese government has coordinated domestic and international situations, effectively responded to the impact of the unexpected factors, strengthened support for the real economy, continuously optimised the structure of loan investment, improved the quality and efficiency of credit services, and developed supply chain finance with the strong support of national policies.

During the Reporting Period, the Group continued to focus on technology-based finance as its strategic main line, further explored the integration and development path between emerging technology industry and supply chain finance industry, and continued to strengthen its support to the real economy. The Group’s revenue increased by 2.24% to RMB82.0 million (2022: RMB80.2 million), which was mainly attributable to the increase in revenue from commercial factoring business. The Group recorded a profit after taxation of RMB37million (2022: loss after taxation of RMB5.6 million).

Optimizing asset and liability structure, commercial factoring progressing steadily

The commercial factoring business, as the Group’s principal business with a well-established risk management system, grew steadily in 2023 and contributed 92% of the Group’s operating revenue, despite the challenging external environment. In 2023, the Group repaid bank borrowings in a timely manner and used the Company’s own funds as working capital, resulting in a significant reduction in the gearing ratio,and the working capital was more more sufficient. In addition, in recent years, the Group started to grant longer loan period to certain high-quality customers in order to increase its profitability and at the same time to maintain credit risk at a low level. In 2023, the Group’s commercial factoring business steadily expanded its scale of operation, with the average net loan balance increasing to RMB1.01 billion (2022: RMB890 million), revenue increasing by 8.16% year-on-year to RMB75.8 million, and segment profit increasing to RMB68.2 million (2022: RMB58.4 million).

Additionally, during the Reporting Period, other financial services within the Group were impacted by restrictions imposed by certain mobile app stores on the content of deployed applications (Apps). As a result, service fees for referral services decreased by 38.65% to RMB6.2 million, while the other financial services segment achieved a profit of RMB2.6 million.

The acquisition process was progressing systematically, and the diversified synergy was poised for development

In addition, the Company is advancing the Proposed CashBox Acquisition subject to, among others, the approval of the Company’s independent shareholders. The management expects to, through the Proposed CashBox Acquisition, rely on the large and multi-regional user resources of CashBox, combining with the Company’s advantages in internet technology, to create synergies for the Group’s business. The management believes that the Proposed CashBox Acquisition will enable the Group to diversity its business, expand its income stream and maximise returns for the shareholders.

Looking ahead, the Federal Reserve is expected to initiate an interest rate reduction cycle around mid-year. In an external macro environment characterized by easing inflation and stable growth, global economic growth is poised for a “soft landing”. China continues to adhere to the principles of seeking progress while maintaining stability, focusing on high-quality development, and continuously fostering new productive forces. With frequent macro policy adjustments and a flexible and precise monetary policy, China provides robust support for stable economic operations. Against this backdrop, we believe that the industry’s development in the coming year will benefit from additional favorable policies driven by national strategies.

The management of GOME Financial Technology stated: “In 2024, the macroeconomic situation is expected to improve. The relatively relaxed financing environment is poised to inject more vitality into the national economy and create opportunities for the development of the Group. We will further explore the integration and development paths of emerging technology industries and supply chain financial industries. Additionally, we will continue to enhance support for the real economy and private economy, leveraging financial services to contribute to high-quality development. While consolidating our core financial business, we will also advance the Proposed CashBox Acquisition, enabling diversified transformation and creating greater benefits for shareholders.”

About Gome Finance Technology Co., Ltd.

Gome Finance Technology Co., Ltd. (stock code: 628) is a publicly listed company on the Hong Kong Stock Exchange. The Company’s vision is to “drive technological development through innovation and revolutionize finance through technology.” It actively expands its strategic layout in the field of financial technology, continuously enriches its product portfolio, gradually extends its risk control services driven by big data and artificial intelligence, and further enhances its comprehensive financial services to provide efficient, convenient, and high-quality financial services for customer.

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

HONG KONG, Mar 29, 2024 – (ACN Newswire) – Baguio Green Group Limited (‘‘Baguio’’ or the ‘‘Group’’, Stock Code: 01397.HK) is pleased to announce its annual results for the year ended 31 December 2023 (the “Year”).

During the Year, the Group’s revenue was approximately HK$2.33 billion, representing an increase of approximately 29.8% as compared with the preceding year. Excluding non-operating subsidies* from the HKSAR Government (the “Government”), the Group has recorded an adjusted net profit for the Year of approximately HK$46.3 million, representing an increase of approximately 36.7% as compared to the corresponding figure in 2022. The Board recommends the payment of a final dividend for the Year at HK$3.4 cents per share.

Business Overview and Prospects

This significant increase in adjusted net profit primarily stems from: (i) the growth impetus provided by the Hong Kong Waste Charging Scheme for our recycling and green technology businesses; (ii) securing new cleaning contracts with the Government, quasi-government bodies, and private entities; and (iii) amplified efficiency gains due to economies of scale. As of 27 March 2024, the Group’s contracts on hand increased significantly to approximately HK$5.1 billion, providing strong revenue growth in the subsequent years.

During the Year, as the core business of the Group, cleaning services continued to record a significant growth, with revenue increased by 37.3% year-on-year to approximately HK$1.83 billion, accounting for approximately 78.5% of the Group’s total revenue. As the end of 2023, the Group’s Government-related street cleaning services cover a total of eight districts (Tsuen Wan, Mong Kok, Sha Tin, Yuen Long, Western, Eastern, Sham Shui Po and Tai Po districts), serving a population of approximately 3 million. The Group’s Government market related cleaning services and Government-related leisure venues cleaning services have also cover various districts in Hong Kong. The Group’s other cleaning sites covered hospitals (North Lantau Hospital, Caritas Medical Centre and Kwai Chung Hospital), clinics (clinics of the Department of Health in Kowloon East and Kowloon West), Hong Kong International Airport, schools, housing estates and private institutions, demonstrating the Group’s leading position in Hong Kong cleaning services market.

In terms of waste management, the Group provided Government-related waste collection services to five districts, including Tsuen Wan, Wong Tai Sin, Mong Kok, Wan Chai and Eastern districts, serving a population of approximately 1.6 million. In terms of recycling, the Group is contracted by the Environmental Protection Department (“EPD”) of the Government to handle around 5,000 recycling spots (including plastic, glass bottles, metals, waste paper and food waste) across Hong Kong, and is one of the market leaders. In 2023, the Group was granted by EPD to provide collection services for recycling bins in public places and schools. During the Year, the Group continued to provide plastic collection services for Eastern, Kwun Tong and Central & Western districts under the EPD Plastic Recycling Pilot Scheme contract. The Group also provides plastic collection services for Recycling Stations of “GREEN@COMMUNITY” and Reverse Vending Machines, which were introduced by EPD and other institutions in Hong Kong. In addition, the Group also provides collection and management services of glass bottles for Hong Kong Island, the New Territories and Islands district. With regard to recyclable food waste collection services, as one of the market leaders in Hong Kong in providing recyclable food waste collection services, the Group was engaged by the EPD to provide recyclable food waste collection services in Kowloon district and New Territories West. Besides, in early 2024, the Group won two contracts to provide smart food waste recycling machines and maintenance services for large private residential estates, helping residents to recycle food waste efficiently and reduce Waste Charging expenses.

After strategic deployment in recent years, the green technology business achieved rapid growth. The Group made impressive progress in providing the Government with smart recycling machines and a big data analytics platform. Smart recycling machines are now available in different places of Hong Kong, providing the public with a convenient recycling experience 24 hours a day and helping to increase the overall recycling volume in Hong Kong. In addition, the Group was awarded a contract by the Food and Environmental Hygiene Department for the provision of people counting services servicing at over 800 public toilets, aqua privies and bathhouses through the system powered by Time-of-flight and Internet of Things technologies to assist the Government in monitoring flow and optimising service standard, and to support the future strategic development of public toilets.

The Group’s bioconversion technology (Black Soldier Flies) project has successfully “converted waste into useful resources”, which not only solves the problem of chicken manure in Hong Kong, but also supplies converted insect protein and organic fertilizer for fisheries and agriculture in Hong Kong.

In partnership with Jardine Engineering Corporation Limited, the Pilot Biochar Production Plant at the EcoPark in Tuen Mun commenced trial operation in the Year. By converting yard waste into high-quality biochar with pyrolysis technology for various applications, the production plant effectively “turns waste into useful resources”.

As for the landscaping business, the Group’s landscaping services currently cover some large private residences, schools, shopping malls, hotels, the Hong Kong Science Park and the Hong Kong University of Science and Technology. During the Year, the Group won the Yuen Long barrage and flood barrier improvement works and the Tuen Ma Line Extension – Tuen Mun Swimming Pool reconfiguration project. For pest management business, the Group provided pest management services in Wong Tai Sin, Tai Po and Yau Tsim districts during the Year. During the Year, the Group provided termite control and monitoring services to 29 monuments under the Antiquities and Monuments Office and 24 temples under the Chinese Temples Committee respectively.

In order to achieve the target of “Zero Landfill” in Hong Kong by 2035 as set out in the Waste Blueprint for Hong Kong 2035, the Government during the Year announced that the “Municipal Solid Waste (MSW) charging scheme” (“Waste Charging”) will be officially implemented on 1 August 2024, it is expected to further motivate the public to recycle and to increase the recycling volume. Currently, food waste recycling machines are installed in only 35% of public housing estates in Hong Kong. The Government intends to extend the installation of such machines to all public housing estates in Hong Kong in 2024. In the private housing sector, the initiative is still in its initial phrase. With Waste Charging set to effect, under the strong advocacy of the Government and the expected market demand created by the Waste Charging, it is believed that the Group’s smart recycling machines, food waste recycling machines and related smart technology business will bring huge business opportunities.

In addition to the Waste Charging, the Government is also proactively promoting the “Producer Responsibility Scheme on Plastic Beverage Containers and Beverage Cartons”, which is expected to be launched within two to three years. The launch of the Waste Charging and this scheme will directly drive the growth of Baguio’s recycling business and create solid returns for its investment in recycling facilities over the years which creates a strong entry barrier to competitors.

Moreover, according to the 2023 Policy Address, the Northern Metropolis is a new engine for the future development of Hong Kong and will provide about 500,000 new housing units after fully developed, which is believed to bring opportunities to the Group’s core businesses.

Looking forward, Baguio will continue to increase its market share in all businesses and proactively engage in expansion in Hong Kong and beyond. In addition, it will actively explore suitable mergers and acquisitions, joint ventures or new business projects to accelerate future business growth and deliver substantial and long-term returns to shareholders.

For details of the Group’s 2023 annual results announcement, please visit the following website:

http://www.baguio.com.hk/en-US/Investor%20Relations/Announcements%20and%20Notices 

* Non-operating subsidies from the HKSAR Government include but not limited to Employment Support Scheme under the Anti-epidemic Fund, government vehicle schemes and Green Employment Scheme, etc.

About Baguio Green Group

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

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

HONG KONG, Mar 29, 2024 – (ACN Newswire) – Netjoy Holdings Limited (“Netjoy” or “the Company”, together with its subsidiaries, “the Group”, stock code: 2131.HK), a leading one-stop short video marketing solution platform service provider in the PRC, announced today its annual results for the year ended 31 December 2023 (the “Reporting Period”), reporting historical high total bill and marked increase in profitability.

Steady high-quality development Consolidating business and exploring new opportunities

In 2023, benefitting from thriving cutting-edge technologies such as AI and social media content platforms increasingly leaning towards “short video”, the content forms in various digital economic fields became more diverse and intelligent. During the Reporting Period, the Group adhered to its development strategy underscored by technologies and creativity, and effectively met the higher requirements of advertisers in digital marketing, channel diversity, and achieving precise results. In 2023, the Group fortified its results performance and saw its profitability rebound. Moreover, with leading marketing techniques and the ability to provide one-stop solutions, its businesses either grew with robust or prided strong growth momentum.

During the Reporting Period, the Group achieved healthy gross bill growth, reaching historical high at RMB 8.137 billion, 10.54% higher than the RMB7.361 billion in 2022. The compound annual growth rate (CAGR) of its gross bill between 2018 and 2023 was 38.25%. With its business layout steadily expanding and active adjustment made to the structure of its quality customer base, the Group record total revenue of RMB3.01 billion.

With efforts made to raise operational efficiency, optimize cost structure and respond with flexibility to market demand, the Group managed to markedly boost profitability. Its gross profit increased by 722.62% year-on-year to RMB 250.75 million, with gross profit margin at 8.33%, up by 7.41 percentage points year-on-year. Adjusted net profit rose 112.53% year-on-year to RMB 24.96 million, and cash and cash equivalents were RMB361 million, reflective of the Group being cash-sufficient to support operation and pursue new initiatives.

Upgrading platform technology  Driving business growth of high-quality and efficiency

Short video marketing is one of the core strengths of the Group. During the Reporting Period, the Group provided customized online marketing solutions to 1,089 advertisers and gross profit margin of the business increased by 5.30 percentage points year-on-year to 5.70%. By utilizing platform systems like “Tianji” and “Tradeplus”, the Group was able to produce content in scale, ensures precise delivery, employs  big data to analyze effectiveness and carry out independent budget management to meet customers’ fine demands along the short video marketing chain.

With the Group having completed interation and upgrade of “Tianji”, the number of users of the platform increased by 188.24% year-on-year to 490 during the Reporting Period, and its highest quarterly turnover continued to climb, by 18.85% year-on-year, to RMB1.324 billion. Moreover, the Group has invested more resources into research and commercialization of AIGC technology, and has used AIGC products to automatically create short video scripts, social media content and graphics, and advertising images and video materials. During the Reporting Period, the Group’s gross billing per capita increased by 16.19% year-on-year to RMB23.18 million, and the Group’s own video production team had put out the most more than 436 project items per capita in a month, 21.45% more year-on-year. The cumulative impressions generated by the Group’s programmed and delivered short videos have surpassed 1,303.7 billion, with views exceeding 468.8 billion.

Deepened close cooperation with leading platforms to foster consumer base expand

During the Reporting Period, as online marketing content has become more diverse and personalized, the Group established a high-standard virtual reality (“VR”) production base and forged strategic partnerships with leading domestic metaverse and AI technology companies. It also continued to deepen cooperation with leading content platforms such as Douyin Group, Kuaishou, Tencent, Xiaohongshu, Alibaba Group, and JD.com, and expanded its reach to new platforms such as Bilibili and Alipay. The Group also further expanded its customer base. As at the end of 2023, it served 1,089 advertisers, representing a 21.54% increase year-on-year, from industries like financial services, Internet services, online games, culture and media, e-commerce, and others, boasting a clientele with a stable and balanced structure, and heading for diversified development.

The Group also exports creative short videos to help it tap the international market. With the help of AI translation, AI avatar synthesis and other technologies, it managed to localize production of creative videos for markets such as Europe, America and Southeast Asia, empowering corporate customers to speed up advance into overseas markets and increase brand awareness. As at the end of the Reporting Period, the Group’s business covered markets with users speaking 13 foreign languages namely English, German, French, Italian, Spanish, Japanese, Korean, Thai, Portuguese, Vietnamese, Arabic, Indonesian, Malay and became partner of TikTok and Temu in commercial video creation.

Improved full-solution e-commerce service system to form vertical advantages in multiple fields

In 2023, the Group gradually improved its e-commerce service system which covers different marketing formats, including brand self-broadcasting, KOL promotion and store operations, to provide brands with  complete e-commerce chain services based on the short video ecology comprising “people, goods and venues”. During the Reporting Period, the Group achieved effective gross merchandise volume (“effective GMV”) of RMB1,129.15 million, 293.13% more year-on-year. With big data analytic skills and shrewd insights of customer needs, the Group provided the short video marketing Click ID (“CID”) technical services, which facilitated seamless data linkages for e-commerce customers both within and outside the advertising placement station.

Also in 2023, the Group enhanced its e-commerce service advantages for serving such vertical industries as 3C digital, beauty and personal care, household daily cleaning, pet foods, local living, and Big Health-related products. It was able to extensively reach upstream suppliers and downstream sales terminals of the e-commerce industrial chain, expand coverage of its yet more comprehensive e-commerce service capability, as well as strengthen influence in the social media e-commerce industrial chain.

During the Reporting Period, the Group’s headquarters in Xi’an overseeing business in central and western China began operation and became its important business operation and development base. This headquarters served as a crucial base for various functions, including the Group’s research and development, video production, live e-commerce operation, short video and live broadcasting training, etc., giving the Group a better business management model and cost structure, allowing it to improve internal human resources allocation and business operational efficiency on multiple fronts.

Looking ahead at 2024, the Group is committed to advancing its major development strategies of “Platformization,” “Diversification,” and “Internationalization.” Building upon this foundation, the Group will continue to pursue R&D of and apply the latest digital technologies to power up AIGC technology, strengthen its diversified business matrix and explore new models to help it thrive on new potential-rich business tracks. To further expand its market share, the Group will also deepen its e-commerce industrial chain layout and intensify its presence in key vertical industries. In addition, it will improve international resources so as to enlarge the room for value growth in overseas markets. Moreover, the Group will seek strategic cooperation, and investment merger and acquisition opportunities, integrate upstream and downstream resources to give full play to its leading role, and seize market opportunities compatible with its capabilities and advantages, and hasten laying out and developing its high-value business ecology.

About Netjoy Holdings Limited

Founded in 2012, Netjoy Holdings Limited (“Netjoy”, stock code: 2131.HK) is a leading one-stop short video marketing solutions platform provider in the PRC. The Group is committed to connecting global customers with Chinese audiences efficiently using cutting-edge marketing technology. It provides advertisers in its diverse and high-growth customer base with full-chain integrated short-video marketing services, comprising content production, programmatic and precise cross-platform advertising, real-time performance monitoring and data analytics.

With a self-developed cloud service system, Netjoy provides services, including internet services, online gaming, financial services, and e-commerce, to 29,643 advertisers in 277 vertical segments. Armed with leading technological advantages and rich industry experience, the Group has expanded its diversified business to cover new fields such as e-commerce services, cross-border brand services and the talent economy.

For more information about Netjoy Holdings Limited, please visit: www.netjoy.com

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

HONG KONG, Mar 28, 2024 – (ACN Newswire) – IGG Inc (“IGG” or “the Group”, stock code: 799.HK), a leading global developer and publisher of mobile games and applications, is pleased to announce the audited consolidated financial results of the Group for the year ended 31 December 2023.

In 2023, the Group ushered in a new chapter marked by a breakthrough in business and a remarkable turnaround from loss. Drawing on over a decade of experience and expertise in the strategy games genre, the Group developed two highly-rated strategy games, “Doomsday: Last Survivors” and “Viking Rise”, following the success of “Castle Clash” and “Lords Mobile”. “Lords Mobile”, IGG’s flagship title launched nearly eight years ago, continued to generate stable revenue, contributing over HK$3.1 billion. Throughout the year, intensive marketing campaigns for “Doomsday: Last Survivors” and “Viking Rise” yielded strong growth momentum, with “Doomsday: Last Survivors” generating nearly HK$700 million in revenue and “Viking Rise” contributing HK$400 million. Adding to the Group’s growth trajectory, the APP Business contributed HK$580 million, accounting for 11% of IGG’s revenue. The combination of two new strategy games and the APP Business not only propelled the Group to an impressive HK$5.3 billion in revenue – a remarkable15% year-on-year increase – but have also contributed a net profit of over HK$160 million in the second half of 2023, marking a new era of growth and diversification. During the year, revenue from Asia, Europe and North America accounted for 44%, 28% and 23%, respectively, of the Group’s total revenue.

With the contribution of the aforementioned businesses and continuous resource optimization, the Group successfully turned its losses around, resulting in a net profit of over HK$430 million in the second half of 2023 and an annual net profit of HK$73 million. After experiencing losses in previous stages, the Group’s core business turned the tide and generated a net profit of approximately HK$380 million in the second half of 2023 and an annual net profit of over HK$17 million. The Group’s investments recorded a net profit of over HK$55 million due to fair value gains. As at 31 December 2023, the Group’s mobile games were available in 23 different languages worldwide, with over 1.7 billion users in total and over 25 million monthly active users (“MAU”)[1] across more than 200 countries and regions.

“Lords Mobile”, IGG’s blockbuster title with innovative features, is the Group’s first cross-platform, multi-language, real-time game designed for global gamers. Since its launch in 2016, the game has garnered widespread acclaim from gamers, recognized for its longevity[2] and ability to generate stable revenue for the Group. As at 31 December 2023, it has amassed 670 million registered users worldwide and has 9 million MAU. Leveraging its previous successful collaborations with “Saint Seiya” and “Kung Fu Panda”, “Lords Mobile” further expanded its user base this year through collaborations featuring “How to Train Your Dragon”, “Armored Combat Worldwide”, and “Dreamworks Shrek”. Entering 2024, the Group remains dedicated to releasing exciting new game content, including a new feature “Guild Expedition”, thereby ensuring that monthly gross billing stays above HK$240 million.

“Doomsday: Last Survivors” has become a favorite for 33 million gamers with its distinctive post-apocalyptic survival theme, deep integration of “real-time” and “strategy” gameplay, and epic 3D visuals. Following a marketing campaign that began in early 2023, the game’s monthly gross billing reached a noteworthy milestone of HK$82 million and experienced a subsequent increase to HK$100 million in March 2024. The Group continued to release new content for the game, including features such as “New Immigration Decree”, a “Bounty Ground” Battle Royale gameplay, and “Archipelago Raid”, a large-scale cross-kingdom event, to provide players a truly unique battle experience. During 2023, “Doomsday: Last Survivors” garnered multiple awards, including five awards at the NYX Game Awards: “Mobile Game – Strategy”, “Mobile Game – Best Gameplay”, “Mobile Game – Best Character Design”, “Mobile Game – Best Game Design”, and “Mobile Game – Best Art Direction”, and “Best Overseas Game” by Youxi Tuoluo. These awards are a testament to the game’s exceptional quality and global appeal.

“Viking Rise”, a Viking-themed strategy game, received widespread acclaim when it was launched in late 2022. Through continuous improvement, the gaming experience was elevated to new heights. The introduction of a “Mounts” system, along with a large-scale battle event “Kingdom Mayhem – Expedition to England”, and the addition of “Mystic Realm”, was well-received by the game’s 21 million players and earned it the “Best of 2023 Awards — Best for Tablets” by Google Play.

The APP Business’s continued success in the second half of 2023 led to remarkable revenue of HK$580 million. This constituted 11% of total revenue, and emerged as a pivotal force driving the Group’s revenue growth and diversification. As at 31 December 2023, the APP Business has over 350 million registered users worldwide and approximately 9.5 million MAU. The Group is committed to the ongoing promotion and diversification of its product portfolio to take the APP Business to the next level.

By adhering to its long-term operational strategy, the Group will drive steady growth in both its core game business and the APP Business. Additionally, the Group will continue to embrace and adopt Artificial Intelligence Generated Content (“AIGC”) technology to optimize costs and enhance profitability. In the first quarter of 2024, the game business demonstrated continued growth, with the Group’s total gross billing estimated to approach HK$1.4 billion, representing an approximate 20% increase compared to the first quarter of 2023. As the Group seizes opportunities to drive growth, aggressive marketing campaigns may lead to a short-term volatility in profits. Nonetheless, IGG remains confident of its overall financial performance for the full year and long-term growth. Embracing the corporate spirit of “Innovators at Work, Gamers at Heart”, the Group will continue to strengthen its global R&D and operation capabilities, to relentlessly pursue its strategy of quality, innovation, and excellence in creating innovative yet timeless games.

About IGG Inc

Established in 2006, IGG Inc is a leading global mobile games and applications developer and operator with headquarters in Singapore and local offices in the United States, China, Canada, Japan, South Korea, Thailand, the Philippines, Indonesia, Brazil, Türkiye, Italy and Spain. IGG offers multi-language and multifarious games to users around the world. The Group has established long-term partnerships with over 100 business partners, including global platforms, advertising channels, and vendors such as Apple, Google and Meta. IGG’s most popular games include “Lords Mobile”, “Doomsday: Last Survivors”, “Viking Rise”, “Castle Clash”, and “Time Princess”.

[1] The Group’s users in total and monthly active users include users of mobile games and apps.

[2] Source: Sensor Tower, a third-party analytics platform

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HONG KONG, Mar 28, 2024 – (ACN Newswire) – In recent years, the insurance industry has embarked on a new cycle of high-quality development and transformation. Standing out as a private insurance service group founded and grown solely through market mechanisms, and the only listed traditional insurance enterprise among the 205 insurance companies established in mainland China in this century, Sunshine Insurance (06963.HK) demonstrates exceptional foresight, precision in decision-making, high degree of strategic determination and robust execution capabilities on the journey towards high-quality development. Consequently, it has emerged as a pioneer and representative force of innovation within the financial industry.

Based on scientifically analyzing the macroeconomic situation and market industry trends, and deeply summarizing its development experience over the past nineteen years, Sunshine Insurance proposed the “New Sunshine Strategy” with “Sunshine of Technology,” “Sunshine of Value,” and “Sunshine of Caring” as its three core components on the first anniversary of its listing on May 19th, 2023. With a clear blueprint and solid implementation, the Company has gradually transformed and achieved significant success. As of December 31, 2023, the Company has been ranked among the top 500 Chinese enterprises by the China Enterprise Confederation for 13 consecutive years and has been entitled as one of the “Top 500 Valuable Brands in China” by the World Brand Lab for 12 consecutive years. It is worth noting that recently, the globally renowned brand valuation consultancy, Brand Finance, released the Insurance 100 2024. Sunshine Insurance, which has just been listed for over a year, made it onto the list, becoming the seventh insurance enterprise in mainland China to be listed. With vibrant vitality and profound value, it has won brand recognition.

Building “Sunshine of Technology” with Data Intelligence and continuing to deepen transformation

In 2023, Sunshine Insurance seized the opportunity brought by the rapid development of digital productivity and focused on “Sunshine of Technology”. With mechanism innovation as a breakthrough, it constructed a dual-drive technological innovation system for internal independent innovation and external collaborative innovation, and continued to deepen digital transformation, driving the Company’s high-quality development through digital and intelligent transformation.

Sunshine Insurance has fully grasped the trend of AI innovation and development, and listed self-developed AI large models as a strategic project of the Company. It has taken the lead in the R&D of the Sunshine Zhengyan GPT large model with independent intellectual property rights, which has already been applied in the fields of customer service, sales support, and intelligent claims, and so on. Sunshine Insurance has also taken the lead in publishing the first white paper on large models in the financial industry in China, titled “Large-Model Technology Deeply Empowers the Insurance Industry”.

Sunshine Insurance’s subsidiary, Sunshine Life, has been focusing on deepening the application of intelligent technologies to enhance core capabilities such as customer service, sales support, and risk management. For example, the sales robot has initially achieved the output of the four capabilities in “introducing products, providing advice, answering questions, and impressing customers”, providing strong support for the intelligent upgrade of frontline business scenarios. Customer service has been continued to expand the application channels and scenarios for service robots, with the help of Consonance Experience Plan to promptly respond to customer needs, which achieved seamless connection between business consultation and handling, significantly improved service efficiency and customer satisfaction, and continued to optimize the one-off completion rate of customer service.

Sunshine Insurance’s subsidiary, Sunshine P&C, has been focusing on deepening the application of intelligent technologies and strengthening IT infrastructure construction to continuously improve customer experience and operational efficiency. The upgrade of customer service includes the development of a lightweight service platform, the “Sunshine Auto•Life” mini-program, targeting individual customers. It also included the establishment of a lightweight corporate customer service platform, the “Sunshine Partner” mini-program, integrating “disaster warning, online services, and risk control safety.” Continual optimization of platforms such as the “Sunshine Auto•Life” APP and Sunshine P&C’s WeChat official account enhanced functionality to provide customers with more convenient online one-stop services. Management empowerment has been focusing on the core capabilities of Sunshine’s automobile insurance. This included deepening the construction and application of the “Intelligent Automobile Insurance Life Table”, creating the “Claims Digital Intelligence Platform” and “Claims Risk Control Platform,” and upgrading the “Digital Intelligence Operation Platform”.

Building “Sunshine of Value” with Model Innovation and Promoting Sustainable Value Development

With “Valuable Sunshine” as the core, in 2023 Sunshine Life promoted the project themed “One Body, Two Wings, continuously optimized business structure and enhanced business quality. Through initiatives such as product and service system development, strategic channel layout and team capability enhancement, core capabilities in customer operation and value development were further strengthened, with the path to the differentiation of “One Body” and value application of “Two Wings” growing increasingly clear. The annual FYRPs from individual insurance channels were RMB4.30 billion, a year-on-year increase of 46.5%; FYRPs from worksite marketing achieved an increase of over 100%; indicators such as team education level, active manpower, the value ratio of products, the persistency ratio at the 13-month and salesperson’s income all showed all-round improvement.

Sunshine P&C, with “intelligent life table of automobile insurance”, “data life table of non-automobile insurance” and “life table of credit insurance” as the fundamental strategies, aimed to truly position automobile insurance as the foundation for stable profitability in property and casualty insurance, while achieving balanced development in non-automobile businesses. In 2023, the life table for automobile insurance project met the “last mile” target and achieved industry-leading risk pricing capabilities with intelligent risk cost control and optimal resources allocation, providing technological model support for Sunshine P&C to build automobile insurance into a stable profit source. The data life table of non-automobile insurance and life table of credit insurance also made substantive progress and gradually entered into operations.

Creating “Sunshine of Caring” with A Goodness Culture of “Love and Responsibility” and Do A Good Job in Customer Operation.

The introduction of “Sunshine of Caring” is a strategic move by Sunshine Insurance to realize its original goal of “Finance for the People”. In 2023, Sunshine Insurance continued to build a customer-driven development model and orderly promoted the “Matrix Plan” and “Partnership Action”, gradually promoting the customer-oriented action and taking customer operation to a new level. By the end of 2023, the number of active customers reached approximately 31.54 million.

In terms of specific strategies, Sunshine Life has further promoted the “Matrix Plan” by conducting in-depth customer surveys and focusing on the full life cycle of customers and their families, and has successfully launched the product allocation concept and insurance policy system of “Three insurance policies for your lifetime of safety and security, Five insurance policies for the whole family, and Seven insurance policies of Sunshine Insurance bring you a promising future” (“Three/Five/Seven”). For customers, the launch of “Three/Five/Seven” allowed customers to have a clear picture of their family’s insurance planning and configuration, which did not cost customers a penny more, and allowed customers to maximize the effect of every premium paid. This made Sunshine Insurance one of the few companies in the industry that explained the protection needs of customers to the society in a clear and easy-to-understand manner from the perspective of the whole customer.

Meanwhile, Sunshine P&C, centered on the “Partnership Action” business model and with an aim of creating a trustworthy enterprise risk management partner, has successfully created exclusive risk management solutions for a number of fields through the form of “insurance + service + technology”. In 2023, it provided technology disaster mitigation and professional risk consulting services to 14,000 corporate clients.

In addition, in terms of customer service, adhering to the principles of “Three Cares” (loving, attentiveness and thoughtfulness) and “Four Features” (value, characteristics, practicality and usability), Sunshine Insurance constantly strengthened the operational efficiency of basic insurance services, the ability to provide value-added services to customers, and the ability to engage directly with them.

Embracing its “New Sunshine Strategy,” Sunshine Insurance has tirelessly worked, day and night, to forge a new path. This comprehensive strategy has now borne fruit, with “Technology Sunshine,” “Value Sunshine,” and “Compassionate Sunshine” synergistically enhancing each other, creating a balanced and forward-moving force, Mr Zhang Weigong, Chairman of Sunshine Insurance, pointed out in the press conference that Sunshine Insurance has never forgotten its original intention and remained committed to itself during different stages of industry transformation. In particular, in the midst of blindly aggressive expansion, the Company has maintained a high degree of certainty and kept a clear head to maintain its steady and sustainable development. A sound path that is sustainable and stable development was thus paved along the way.

The steady growth in performance, continuous enhancement of value creation ability, and solid implementation of customer management in 2023 are the best proof of the Company’s adherence to strategic consistency, robust corporate governance, and rigorous risk control. With the further advancing of the New Sunshine Strategy, this insurance company, which is about to celebrate its 20th anniversary, is bound to embrace fruitful results in time.

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