Cutting-edge technologies at Hong Kong tech fairs attract over 66,000 buyers worldwide

HONG KONG, Apr 16, 2023 – (ACN Newswire) – Hong Kong showcased its strengths in innovation and technology (I&T) at a series of innovation and tech fairs, including the first-ever InnoEX co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), held concurrently with the Hong Kong Electronics Fair (Spring Edition) and Hong Kong International Lighting Fair (Spring Edition).

66,000 industry buyers visited and conducted business negotiations at the inaugural InnoEX, co-organised by HKSAR and HKTDC, along with the Hong Kong Electronics Fair (Spring Edition) and Hong Kong International Lighting Fair (Spring Edition).

The "Paris Olympic Games 2024 – Becoming a large-scale innovation center for the Cities of Tomorrow" seminar, hosted by the So French So Innovative exhibition group, shared how Paris is leveraging the opportunity of hosting the 2024 Olympics to promote I&T.

The Asian Lighting Forum with the theme "Illuminating a Connected World" featured heavyweight speakers who delved into the latest industry topics, including human-centric lighting design, smart lighting solutions and sustainable development.

The three tech fairs attracted over 66,000 buyers from some 160 countries and regions, including Mainland China, the Association of Southeast Asian Nations (ASEAN), Korea, Taiwan, USA, Japan, India and Russia. The overwhelming response and lively exchange of ideas at the events highlighted Hong Kong's rapid development into an international I&T hub, which connects the world with Mainland China and ASEAN.

The three exhibitions took place in hybrid format, offering access in-person and online via the HKTDC's EXHIBITION+ platform, which enables exhibitors and buyers from around the world to continue conducting business online until 22 April. With the Click2Match smart business matching platform, the fairs have facilitated over 3,000 business meetings so far.

Sophia Chong, HKTDC Deputy Executive Director, said, "It is encouraging to see that the three tech fairs brought together nearly 3,000 exhibitors from 20 countries and regions to present a wide range of innovative solutions, cutting-edge technologies and electronic products, to create business opportunities across regions and industries and to explore the unlimited potential of innovation and technology cooperation."

"Many exhibitors were pleased to receive orders on the spot and secure business partnerships. We are pleased to see the three tech fairs playing a major role in the innotech ecosystem of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), which attracts the participation of ASEAN and Asia markets, and those further afield in Europe and the Americas. The success of these events reflects Hong Kong's determination to develop at full speed into an international centre for innovation and technology and reaffirms the status of the city as an international trade and exhibition centre," she added.

InnoEX and the Hong Kong Electronics Fair were flagship events of the inaugural Business of Innovation & Technology Week (BITWeek), which also included the Digital Economy Summit, co-organised by the HKSAR Government and Cyberport. Together, the three BITWeek events recorded a total attendance of over 50,000 local and overseas visitors.

The three tech fairs of the HKTDC featured more than 100 innovative solutions to drive smart city development in Hong Kong presented by the Smart Hong Kong Pavilion, artificial intelligence (AI) and robotics projects undertaken by 14 research laboratories in collaboration with world-renowned universities introduced by the InnoHK initiative under the Innovation and Technology Commission, the latest electronics and smart lighting solutions as well as a series of forums, panel discussions and seminars featuring distinguished experts to share their insights on the latest technological trends.

AI, smart city and metaverse dominating the conversation

More than 50 events were held during the fairs, including the InnoEX Forum, Under 30 – Tech Trends Symposium for the Next Generation, Asian Lighting Forum, and the "France in the Game – Sustainable Development for the Cities of Tomorrow" organised by So French So Innovative pavilion, and the "Collaborate & Build Data Ecology between Twin Cities" event organised by the Office of the Government Chief Information Officer (OGCIO) and Shanghai Municipal Commission of Economy and Informatization. Robust discussions on trending topics, such as AI, smart city and metaverse attracted a large number of industry participants.

Over 80% of I&T industry expects sales to grow in the next one to two years

The majority of the over 1,000 exhibitors and buyers, responding to independent surveys commissioned by the HKTDC at the fairs, held optimistic views on their upcoming business development and sales. They agreed that Hong Kong offers the advantage of connecting the world with the GBA and ASEAN.

According to the survey, 75% of respondents at InnoEX believe that overall sales will increase in the next six months to a year. A total of 86% of respondents expect their overall sales to increase in the next one to two years.

Respondents believe that the biggest advantage of Hong Kong's innovation sector lies in the city's highly skilled and multicultural talent pool (26%), creative technology solutions (25%) and its unique role as an intermediary between Mainland China and the world (21%).

In addition, with the support of policies, many companies are committed to expanding into ASEAN markets. 38% of local exhibitor respondents are trying or planning to expand into the ASEAN countries, while 31% of respondents plan to expand into the GBA and 89% of them were optimistic about opening up their businesses in the GBA market. 21% of respondents plan to expand into other non-GBA Chinese cities.

Furthermore, around 50% and some 30% of local exhibitor respondents, respectively, believe that policy support from the Hong Kong and mainland governments and/or assistance from other organisations in both places, the willingness to cooperate by mainland and international corporations as well as leveraging the complementary advantages of Hong Kong and other GBA cities are favourable for Hong Kong innovation companies to explore the GBA mainland cities market.

Among the respondents of the Hong Kong Electronics Fair (Spring Edition) and Hong Kong Lighting Fair (Spring Edition), 58% of the respondents believed that overall sales would increase in the next six months to one year. A total of 72% of respondents expect their overall sales to increase in the next one to two years. In terms of product trends, respondents at the Hong Kong Electronics Fair (Spring Edition) identified household appliances (21%), audio-visual products (21%) and electronic or electrical accessories (20%) as having the greatest growth potential in key sales markets this year.

As for the Hong Kong Lighting Fair, more than 51% of the respondents believe that LED type of lighting products have the greatest growth potential among the major sales markets, followed by commercial lighting (33%), outdoor & public lighting (27%) and residential lighting (20%).

Smart products demand drives engaging business negotiations at tech fairs

Shanghai Yuweia Technology Co., Ltd. promoted its virtual reality products at InnoEX. Mr Ryan Zhu, Chief Marketing Officer of the company, stated: "This fair was a huge success! Buyers from both domestic markets and abroad highly praised our products. In addition to meeting hundreds of potential clients, we received orders from Japan, Canada, the United States, Indonesia, Singapore and other places. We intend to take part in the fair again next year and bring our latest products to consumers worldwide."

During the fairs, government officials from ASEAN countries, Mainland China and Hong Kong met with exhibitors from various countries and regions at the ASEAN Smart City Development Roundtable to exchange ideas. Mr Lim Chinn Hwa, Senior Director of GovTech of Singapore, said, "Hong Kong and Singapore can potentially collaborate on investing in technologies relevant to smart cities. Together, we can also work on aspects, like handling the different data collected, dealing with the differences in the two places' governance approach, identifying talents who can serve the needs of both places and facilitating knowledge exchange. Sharing ideas and policies in these areas is highly beneficial."

Hong Kong exhibitor Doss (H.K.) Limited promoted its Bluetooth speakers at the Hong Kong Electronics Fair (Spring Edition). According to Ms Vivian Liang, Sales Manager of the company, "We aim to explore new markets and strengthen relationships with existing customers through the fair. Face-to-face interactions with customers during the fair helped us foster long-lasting relationships and generate more orders. This fair produced positive outcomes. We met with about 50 new buyers, mostly from Europe and the United States. We anticipate receiving orders totalling US$100,000."

Robust global purchasing power through Hong Kong

The resumption of customs clearance between the mainland, Hong Kong and the world attracted buyers from all over the world to the fairs, with robust sales activity generated on-site and online . Mr Arvine Quizon, Head of Technology of Leading Edge based in Australia travelled to Hong Kong and sourced at the Electronics Fair. He highly appreciated the fair, saying "It's a great place for horizon scanning, finding new trends and the focus for the industry. I've always loved the fair in Hong Kong. It's the best in the world for sourcing new products. It's great to be back since the pandemic and I'll certainly be back more often."

Exhibitor Ms Vivian Wu, General Manager of Zhongshan Obals Lighting & Electric Co., Ltd from Mainland China obtained a huge order at the fair. She said, "We are thrilled to have received an onsite order worth US$3 million for our LED commercial lighting products from a long-term customer from Australia on the first day of the fair. Buyer traffic has been heavy at the fair. We have established more than 300 new contacts with quality buyers from new markets, such as Africa, Asia and the Middle East. And about 30 new buyers came from large companies, which have their own brands."

Websites
– InnoEX: https://www.hktdc.com/event/innoex/en
– Hong Kong Electronics Fair (Spring Edition): https://www.hktdc.com/event/hkelectronicsfairse/en
– Hong Kong International Lighting Fair (Spring Edition): https://www.hktdc.com/event/hklightingfairse/en
– The HKTDC's Media Room: http://mediaroom.hktdc.com/en
– Photo download link: https://bit.ly/3UBGlaG

About HKTDC

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

Media enquiries
For more information, please contact Raconteur:
Molisa Lau, Tel: +852 6187 7786, Email: molisalau@raconteur.hk
Betsy Tse, Tel: +852 9742 7338, Email: betsytse@raconteur.hk

The HKTDC's Communications and Public Affairs Department:
Eric Wong, Tel: +852 2584 4575, Email: eric.ks.wong@hktdc.org
Clementine Cheung, Tel: +852 2584 4514, Email: clementine.hm.cheung@hktdc.org

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

Inaugural InnoEX kicks off today

HONG KONG, Apr 12, 2023 – (ACN Newswire) – The first-ever InnoEX, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), which is running in conjunction with the HKTDC Hong Kong Electronics Fair (Spring Edition) and HKTDC Hong Kong International Lighting Fair (Spring Edition). The three tech fairs opened at the Hong Kong Convention and Exhibition Centre (HKCEC) today, attracting nearly 3,000 exhibitors from 20 countries and regions across Hong Kong, the mainland, Asia, Europe and the Americas, and showcasing Hong Kong's role as a global innovation hub and trade exhibition centre.

HKTDC Acting Executive Director Sophia Chong opened the exhibition and the "InnoEX Forum" with her welcome speech.

The Smart Hong Kong Pavilion, set up by the Office of the Government Chief Information Officer (OGCIO), showcases more than 100 innovative solutions that will help drive smart city development in Hong Kong.

The Innovation and Technology Commission presents AI and robotics projects undertaken by 14 research laboratories in collaboration with world-renowned universities under the HKSAR Government's InnoHK initiative.

Under the theme "Connecting the World with Innovations for Better Living", the three tech exhibitions have adopted the HKTDC's EXHIBITION+ integrated online and offline model for trade events. The physical expos run for four consecutive days, from 12 to 15 April, while global exhibitors, industry professionals and buyers can come together through the Click2Match intelligent business matchmaking platform until 22 April.

Brightest tech firms gather with innovative solutions

InnoEX is devoted to promoting cross-industry as well as cross-functional collaboration and exchange, encompassing business-to-business (B2B), government-to-government (G2G), and government-to-business (G2B) partnerships. The event will drive the translation of innovations into commercialisation through the market, ultimately extending enterprises' reach to the global stage.

Opening the exhibition and the InnoEX Forum this morning, HKTDC Acting Executive Director Sophia Chong said when making her welcome remarks: "InnoEX serves as a premier business platform showcasing next-generation smart solutions, and cutting edge technologies, bringing together influential tech experts, enterprises, thought leaders and investors from the region and beyond to discuss cross-region and cross-sector collaboration and explore business opportunities on all fronts."

Speaking at the opening ceremony, Professor Sun Dong, Secretary for Innovation, Technology and Industry, said: "The current Government is committed to promoting the development of innovation and technology to give a strong impetus to economic growth and address the concerns of people's livelihood. Last year, we published the 'Hong Kong Innovation and Technology Blueprint', which sets out the strategic plan for innovation and technology in the next five to 10 years, and promotes key directions such as digital economy and smart city development." He continued: "The 'Hong Kong Innovation and Technology Blueprint' has been making impressive strides in the smart city journey. Nonetheless, we will not be complacent in where we are. To lead by example, as announced in the Chief Executive's 2022 Policy Address, we are now forging ahead with an e-government audit with a view to implementing 100 digital initiatives by various departments leveraging advanced technologies such as AI, blockchain and big data analytics by 2025. They will certainly further enhance our livelihood with greater convenience and allow us to experience the benefits of smart city and I&T in our daily lives."

In a special address given online, Professor Zhang Guangjun, Vice Minister of Science and Technology, said: "Hong Kong is an important gathering place for global innovation elements and a key hub in the global innovation network. With its advantage of motherland's strong backing and world connection, Hong Kong plays an indispensable and important role in the country's innovation infrastructure. The Ministry of Science and Technology will work closely with the Hong Kong SAR Government to implement President Xi Jinping's series of important pledges on science and technology innovation and the promotion of Hong Kong's prosperous development, and to put into practice Agreement between the Mainland and Hong Kong on Expediting the Development of Hong Kong into an International Innovation and Technology Centre, so as to promote innovation and technology as a new engine for Hong Kong's development."

The InnoEx Forum will feature government officials from different mainland provinces and cities, representatives promoting smart city development from various countries and regions, and executives from leading technology companies and unicorns, who will gather together to discuss a range of topical technology issues.

InnoEX provides a platform for fostering collaboration among leaders from different countries and regions. More than 100 government officials with responsibility for promoting smart city development from the mainland and various ASEAN countries have been invited to visit the exhibition. Several officials will participate in tomorrow's ASEAN Smart City Development Roundtable, sharing their experience in developing smart cities with representatives from the HKSAR Government and exhibitors from different regions. At the same time, exhibitors will have the opportunity to establish connections with officials from various places to build cooperation. A series of themed events will be held during the exhibition, allowing start-ups to learn from experts and promote their products and ideas to potential buyers and investors to explore new commercial opportunities.

InnoEX offers a wide range of themes, including the Smart City, Smart Economy, Smart Environment, Smart Government, Smart Living and Smart Mobility. The Office of the Government Chief Information Officer (OGCIO) of the HKSAR has set up the Smart Hong Kong Pavilion (Booth: 3F-C01), featuring more than 100 innovative solutions to drive smart city development in Hong Kong, including technology solutions adopted by government departments and award-winning exhibits from local innovators. The Innovation and Technology Commission, meanwhile, presents artificial intelligence (AI) and robotics projects undertaken by 14 research laboratories in collaboration with world-renowned universities under the HKSAR Government's InnoHK initiative (Booth: 3E-B01).

Following the easing of the pandemic situation, Hong Kong has established closer trade ties with the mainland resulting in 12 pavilions from 10 provinces and cities joining the InnoEx physical exhibition. These include Zhongguancun Beijing (Booth:3E-A01), the Hong Kong Alumni Association of Beijing Universities (Booth: 3E-B06), pavilions from Zhejiang (Booth: 3E-D01) and Hangzhou (Booth: 3F-B01), pavilions from Jiangsu (Booth: 3F-A02) and Nanjing (Booth: 3F-C03), Shangdong Qilu Software Park (Booth: 3G-E04), G60 Shanghai Songjiang Science and Technology Innovation Corridor (Booth: 3D-E01), the Hong Kong/Shanghai Data Cooperation Pavilion (Booth: 3D-E02), Shenzhen Pavilion (Booth: 3F-A01), and pavilions from Xiamen (Booth: 3E-B05) and Chengdu (Booth: 3G-A03).

The exhibition has also attracted leading innovation and technology institutions and organisations, including local universities and research centres, major technology companies such as Huawei and Hikvision, and various local and overseas pavilions, including the B4B Big Data Application Challenge, Cyberport, Hong Kong Science and Technology Park, the Smart City Consortium, the So French So Innovative pavilion from France (Booth: 3G-B01), and the Canadian pavilion (3G-C01). Representatives from the government, industry, academia, and research communities from around the world are joining the event to learn more about exhibitors' solutions and explore procurement opportunities. Another major technology fair held concurrently with InnoEx is the Hong Kong Electronics Fair (Spring Edition), featuring three special themed zones: the Hall of Fame, the Startup Zone and Tech Hall. Highlight products include a driver assistant system from a Korean exhibitor (Booth: 3C-C22) that uses intelligent cameras to detect images of roads, vehicles and pedestrians for issuing warnings to drivers when potential dangers arise. A mainland exhibitor is introducing a smart mirror (Booth: 1CON-031) that helps users get fit by following the instructor's moves in the mirror, which also tracks movements to help correct posture. A Hong Kong exhibitor, meanwhile, is showcasing a baby monitor (Booth: N104-01) that keeps track of baby's skin temperature, heart rate and sleep quality in real-time, allowing parents to access crucial information via their smartphones or tablets.

The Hong Kong International Lighting Fair (Spring Edition) features the Hall of Aurora, displaying innovative lighting designs by leading brands. The Connected and Smart Lighting zone features the latest lighting solutions, including a Hong Kong exhibitor's research on an end-to-end intelligent lighting system (Booth: 1C-A23) and a smart deco series that adjusts lighting based on day and night rhythms (Booth: 1B-C10). Pavilions from the mainland also feature at the fair, showcasing various smart lighting, people-oriented, and sustainable development solutions, one example being a Shenzhen exhibitor's research on a smart linear lighting system to automatically adjust brightness (Booth: 1A-D24) along with wildlife-friendly lighting products (Booth: 1A-D02).

A series of forums, panel discussions and seminars have been arranged throughout the three fairs to keep industry participants updated and informed. Highlights include:

InnoEx
– So French So Innovative Conference 2023 (13 and 14 April)
The So French So Innovative pavilion will demonstrate how Paris is taking advantage of the 2024 Olympic Games to promote innovation.

HKTDC Hong Kong Electronics Fair (Spring Edition)
– Under 30 – Tech Trends Symposium for the Next Generation (15 April)
Under the theme "The Era of Hyperautomation", specially invited industry leaders will share on the impact of robotics and automation on technology development, smart manufacturing and daily life.

HKTDC International Lighting Fair (Spring Edition)
– Asian Lighting Forum (13 April)
Themed "Illuminating the Interconnected World", the forum will see several industry luminaries delve into a range of topics involving human-centric smart lighting solutions, sustainable development and lighting designs that can create appropriate moods and ambience.

Please refer to https://www.hktdc.com/event/innoex/en/programme for more events.

The inaugural InnoEX is the flagship event of Business of Innovation and Technology Week (BITWeek), driven by the Government of HKSAR and HKTDC. BITWeek also features the HKTDC's Hong Kong Electronics Fair (Spring Edition) and the Digital Economy Summit co-organised by the HKSAR Government and Cyberport. The Hong Kong Web3 Festival 2023 is held concurrently.

* The three tech fairs include: the first-ever InnoEX jointly organised by the HKSAR Government and the HKTDC, Hong Kong Electronics Fair (Spring Edition) and Hong Kong International Lighting Fair (Spring Edition).

Websites
– InnoEX: https://www.hktdc.com/event/innoex/en
– Hong Kong Electronics Fair (Spring Edition): https://www.hktdc.com/event/hkelectronicsfairse/en
– Hong Kong International Lighting Fair (Spring Edition): https://www.hktdc.com/event/hklightingfairse/en
– The HKTDC's Media Room: http://mediaroom.hktdc.com/en
– Photo download: https://bit.ly/3o8YArC

About HKTDC

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

Media enquiries
For more information, please contact Raconteur:
Molisa Lau, Tel: +852 6187 7786, Email: molisalau@raconteur.hk
Betsy Tse, Tel: +852 9742 7338, Email: betsytse@raconteur.hk

The HKTDC's Communications and Public Affairs Department:
Eric Wong, Tel: +852 2584 4575, Email: eric.ks.wong@hktdc.org
Clementine Cheung, Tel: +852 2584 4514, Email: clementine.hm.cheung@hktdc.org

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

NEUCHIPS RecAccel N3000 Delivers Industry Leading Results for MLPerf v3.0 DLRM Inference Benchmarking

SAN JOSE, CA, Apr 6, 2023 – (ACN Newswire) – NEUCHIPS, the leader in AI ASIC platforms for deep learning recommendation, participated in MLPerf(TM) v3.0 with their RecAccel(TM) N3000 and demonstrated industry-leading performance and power efficiency. The RecAccel(TM) N3000 system delivered 1.7x better perf-per-watt for inference DLRM while maintaining 99.9% accuracy leveraging its INT8 calibrator. The RecAccel(TM) Quad-N3000 PCIe card is expected to increase perf-per-watt 2.2x while also delivering the lowest total cost of ownership (TCO). These results give cloud service providers confidence to choose a new solution on existing and future data center platforms.

Performance per Watt – The RecAccel Quad-N3000 PCIe card is expected to increase perf-per-watt 2.2x more than GPU H100 PCIe.

MLPerf(TM) v3.0 testing was performed on a GIGABYTE G482-Z54 server with AMD EPYC(TM) 7452 32-core CPU and contained eight RecAccel(TM)-N3000-32G-PCIe cards. During the system testing, the RecAccel(TM) N3000 performance resulted in nearly 100% scaling across each card.

"We deliver high-performance computing products that help intelligent systems effectively manage complex data sets," said Kumaran Siva, corporate vice president, Strategic Business Development, AMD. "We are extremely proud of the joint work we have done with NEUCHIPS to achieve leadership performance and power efficiency for DLRM inference in MLPerf(TM) v3.0 using AMD EPYC processors. We look forward to continue working with NEUCHIPS to deliver industry-leading AI solutions."

"We were thrilled to participate in MLPerf(TM) v3.0 and achieve our goal to deliver the world's most energy-efficient DLRM inference platform with the first domain specific architecture," said Youn-Long Lin, the CEO and Chairman of NEUCHIPS. "We look forward to working with the cloud ecosystem to support industry sustainability initiatives."

About NEUCHIPS Inc.

NEUCHIPS Inc. is an AI ASIC solution provider founded by a team of veteran IC & SW design experts in 2019 who are focused on designing the world's best recommendation systems. Our management and R&D team has decades of experience from leading semiconductor companies and hold patents in signal processing, neural networks, and circuit design.

AMD, the AMD Arrow logo, EPYC, and combinations thereof, are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.

Contact Information
Kinny Chen
BD Manager
kinny_chen@neuchips.ai

Tim Lauer
tim_lauer@neuchips.ai

SOURCE: NEUCHIPS

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

Former President of Worldwide Operations of Walt Disney Parks and Resorts Al Weiss Has Joined SKYX as a Senior Business Development Advisor

MIAMI, FL, Apr 3, 2023 – (ACN Newswire) – SKYX Platforms Corp. (NASDAQ:SKYX) (d/b/a "Sky Technologies") SKYX, a highly disruptive platform technology company with over 60 issued and pending patents globally with a mission to make homes and buildings become safe and smart as the new standard, announced today that Al Weiss, former President of Worldwide Operations of Walt Disney Parks and Resorts, has joined SKYX as a senior business development advisor. Mr. Weiss will assist the company with strategic business introductions, partnerships, and engagements in the U.S. and globally.

Prior to joining SKXY, Mr. Weiss had a distinguished 39-year career at The Walt Disney Company. Starting as an 18-year old cast member, he climbed the ranks holding several senior positions including President of Walt Disney World Resorts from 1994 – 2005, at which point he was appointed Disney's Worldwide President of Operations. While serving as President of Worldwide Operations of Walt Disney Parks and Resorts, he oversaw Disney's worldwide amusement parks, hotels-resorts, cruise lines, as well as products and experiences. Beyond Disney, Weiss has held various leadership positions, including Chairman of the Metro Orlando Economic Development Commission, Trustee at the University of Central Florida as well as Stetson University, and serving on the founding Board of Directors for Travel Promotion. In 2018, he launched Global Blockchain Ventures, a $100 million fund to invest in blockchain technology, where he serves as Chairman and General Partner.

Mr. Weiss said: "I am truly excited to join Rani, the SKYX team and their 'movement', as I strongly believe that the safety aspects and smart features of SKYX's smart platform technologies are game changing and will become a new standard for safe and smart homes, buildings, hotels and even cruise ships."

"We are happy and proud to announce that such a prominent business leader is joining the SKYX 'movement'," said Rani Kohen, Founder and Executive Chairman of SKYX Platforms. "In his new role, Mr. Weiss will assist the Company with strategic introductions, partnerships, and other engagements both in the U.S. and globally. I look forward to working closely with him to open new doors for SKYX in the quarters ahead."

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard.

SKYX Platforms Corp. (NASDAQ:SKYX) has a series of highly disruptive advanced-safe-smart platform technologies, with over 60 U.S. and global patents and patent pending applications. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://SKYXPlatforms.com or follow us on LinkedIn.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as "aim," "anticipate," "believe," "can," "could," "continue," "estimate," "expect," "evaluate," "forecast," "guidance," "intend," "likely," "may," "might," "objective," "ongoing," "outlook," "plan," "potential," "predict," "probable," "project," "seek," "should," "target" "view," "will," or "would," or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. Such forward-looking statements include statements such as that the safety aspects and smart features of SKYX's smart platform technologies are game changing and will become a new standard for safe and smart homes, buildings, hotels and even cruise ships. These statements reflect the Company's reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company's ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement of presales, the Company's efforts and ability to drive the adoption of Sky's Smart Platforms into homes, buildings, cruise ships and communities and adoption by hotels, builders and architects, ability to capture market share, ability to execute on any sales and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, risks arising from mergers and acquisitions, and other risks and uncertainties described in the Company's filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Media Relations Contacts:
Britney Ouzts/Barbara Goldberg
O'Connell & Goldberg, Inc.
(754) 204-7074/ (954) 294-4677
bouzts@oandgpr.com / bgoldberg@oandgpr.com

Investor Relations Contact:
Lucas A. Zimmerman
MZ North America
(949) 259-4987
SKYX@mzgroup.us

SOURCE: SKYX Platforms Corp. dba Sky Technologies

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

HG Semiconductor Announces 2022 Annual Results

HONG KONG, Apr 3, 2023 – (ACN Newswire) – HG Semiconductor Limited ("HG Semiconductor", together with its subsidiaries, "the Group"; stock code: 6908.HK) announced its audited consolidated results for the year ended 31 December 2022 (the "Year"). HG Semiconductor actively developed its new third-generation semiconductor business during the Year, by further accelerating the pace of research and development ("R&D") and application of gallium nitride ("GaN") technology and achieving several important milestones.

During the Year, since the third-generation semiconductor business was still in investment and R&D stage, the Group's revenue was mainly contributed from the LED bead business. The recurring COVID-19 pandemic ("COVID-19" or "Pandemic") had severe negative impact on China's economy. The temporary closure of factories due to lockdown measures among cities had halted the industrial chain of the Group's LED bead business for certain period of time and impacted its production capacity accordingly. Revenue for the Year was approximately RMB87.5 million (2021: approximately RMB126.1 million), while gross profit decreased to RMB16.4 million (2021: approximately RMB25.5 million). As the Group did not record any non-cash flow items such as loss on acquisition of intangible assets, loss for the Year attributable to the owners of the Company narrowed significantly to approximately RMB101.3 million (2021: approximately RMB446.8 million) despite the increase in expenditure on the promotion and R&D of the third-generation semiconductor business.

The management of the Group revealed that the global economic recovery was hampered by multiple factors during the Year, and the world economy was undergoing a turbulent state. Despite the macroeconomic uncertainties, the global semiconductor demand remained robust. Facing the challenges of the international environment, the Group focused on developing new GaN business during the Year to move towards the goal of becoming an integrated device manufacturer ("IDM") of semiconductor serving for whole industrial chain with a core focus on semiconductor design and manufacturing, integrating R&D, manufacturing, packaging and package testing and sales.

Business Review

During the Year, the Group's revenue of LED bead business was approximately RMB87.2 million (2021: approximately RMB126.1 million). The decrease in revenue was mainly due to the decrease in the average selling price of LED beads during the Year, as the demand for high-end LED products in the PRC has substantially decreased as a result of the recurrences of the COVID-19 outbreaks and the emergence of mutated variants of the virus, which adversely impacted the Chinese economy.

Nonetheless, with the strong scientific research capabilities and diligent efforts in the R&D and production of the Group's team of scientists, the epitaxial wafer and fast charging products in the third-generation GaN business began to generate revenue for the Group during the Year.

GaN epitaxial wafer R&D and production breakthrough turbo-charges development of third-generation semiconductor industry chain
During the Year, the Group's R&D, manufacturing and implementation of GaN third-generation semiconductors were realised, and quickly channelled into the production of epitaxial wafer. The Group has installed two production lines in its semiconductor factory in Xuzhou Economic and Technological Development Zone, Jiangsu Province, PRC for the production of GaN-related products, and core machines imported from Europe and Japan have been delivered to the factory and are ready for chips manufacturing to meet the market needs. With the efforts of the scientist team and their strong R&D capabilities, the Group achieved a major breakthrough during the Year by successfully commencing the production of its own 6-inch GaN power device epitaxial wafer in October. The success in manufacturing the epitaxial wafers is well ahead of the expected schedule, representing an important achievement in the Group's transformation into a third-generation GaN semiconductor supplier, and paving the way for mass production of GaN chips.

In addition, the Group was granted 9 utility models patents and appearance patents during the Year, including GaN-based inverters and power supply modules, with a number of invention patents pending for approval. Xuzhou GSR Semiconductor Co., Ltd., the Group's wholly-owned subsidiary, conducted its first publicised industry field trial of GaN with GaN Systems in the power infrastructure of an internet data centre. The test results marks that GaN can be widely used in the power infrastructure of data centres.

Multi-party strategic cooperation achievements continue to drive GaN business
During the Year, HG Semiconductor entered into strategic framework agreements with a number of industry-leading companies to establish mutually beneficial strategic partnerships and enhance the Group's capabilities in innovation and manufacturing, including entering into a strategic cooperation agreement with Ingdan Inc. (Stock Code: 400.HK) in March, to assist the Group in the sale of its manufactured chips in the PRC, and a long-term strategic cooperation between the two parties in the application and development of chips. In May, the Group reached a strategic cooperation agreement with China Titans Energy Technology Group Co., Limited (Stock Code: 2188.HK) in respect of technology R&D and exchange, to cooperate in the R&D of the new generation of fast-charging piles using the Group's third-generation semiconductor technology in the next three years. While in terms of overseas, the Group also entered into a non-legally binding memorandum of understanding with GUH Holdings Berhad ("GUH"; Stock code: 3247.KL) to expand the sales of fast-charge batteries and GaN devices to Malaysia and Southeast Asia. At the same time, the Group will provide GUH with plans for the construction of a battery factory and the procurement of related equipment, as well as the provision of a complete set of module equipment for a 100 MWh energy storage station. Moreover, the Group continued to cooperate with Hong Kong's statutory bodies, wherein both sides will jointly research and promote "smart city" development in Hong Kong, as well as study the upgrade of local electric vehicle and charging facilities.

Introduction of major strategic shareholders to accelerate the pace of entering the new energy field
GaN, as an emerging new technology, its broad prospects are favoured by investors. During the Year, the Group successfully introduced a number of strategic shareholders to raise more capital for the development of key technologies and to further enlarge its shareholder base. Among them, the Group entered into an agreement with Profit Act Limited ("Strategic Investor") in August, a company that is indirect wholly-owned by Mr. Zhu Gongshan ("Mr. Zhu"), the Founder, Chairman and Executive Director of GCL Technology Holdings Limited ("GCL Technology"; Stock Code: 3800.HK), and the Strategic Investor agreed to subscribe for 60 million subscription shares and 60 million subscription warrants. Subsequently, the Group also entered into a strategic cooperation framework agreement with Golden Concord Group Limited ("Golden Concord Group"), for a long-term strategic cooperation in the application of GaN power chips in the new energy sector. This partnership will assist HG Semiconductor in entering the supply chain market in the new energy industry.

Prospect

With the rise of technologies such as 5G and artificial intelligence, the R&D and application of third-generation semiconductors represented by GaN are also included in the national strategic planning. The Group will continue to make increased efforts to the third-generation semiconductor GaN industry chain in order to accelerate the pace of R&D and expand the applications of GaN-related products. Along with the upgrade of Xuzhou Factory and the production lines and machines are well in place, the Group's R&D team and experts will continue to focus on production research, aiming to accelerate the realisation of production capacity.

As market penetration of electric vehicles in Mainland China and Hong Kong increases, coupled with policy support and solid market demand, the further development of GaN power products is expected to be rapid. The Group will continue to develop and commercialise new-generation charging piles in both China and Hong Kong, and actively explore the establishment of a stronghold for fast-charging battery solutions in Hong Kong. In addition, the Group expects that GaN technology will play a key role in great energy systems in the future. The Group intends to establish a new-energy joint venture company with Golden Concord Group in China and provide technical support to the venture for the purpose of co-developing silicon-based power chips and products that use third-generation semiconductors. In this way, the Group can further accelerate the pace of R&D of technologies and applications of GaN in the new-energy field.

Looking ahead, the Group will actively seek strategic partners and upgrade its industrial chain while upholding the principle of achieving synergy in use of resources and dual-win cooperation. Meanwhile, the Group will also continue to bring in outstanding experts and talents in the field of semiconductor to enhance its production and R&D. Buoyed by three factors – the government's favourable policies, extensive downstream application markets, and domestic substitution opportunities – the Group will benefit from tailwinds in further developing and exploring third-generation semiconductor products and applications with GaN at their core, continue to boost quality and efficiency, maximising value for its shareholders.

About HG Semiconductor Limited
HG Semiconductor Limited (6908.HK) is principally engaged in semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode ("LED") beads and a new generation of semiconductor gallium nitride ("GaN"). The Group is committed to accelerating its research and development and expansion in the application of GaN related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost.

For more details, please visit www.hg-semiconductor.com

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

Earable Neuroscience and Excelpoint Announces Strategic Partnership to Accelerate the Commercialisation of the World’s First AI-powered Consumer Wearable, FRENZ Brainband, to Solve Global Sleep Pandemic

Since the COVID-19 pandemic began, researchers around the world have documented a surge in sleep disorders which affect overall health, safety and quality of life
Invented by Earable® Neuroscience, FRENZ™ Brainband is the world’s first AI-powered consumer wearable that tracks and stimulates brain activities to enhance mental well-being through improvements in sleep, relaxation and focus
With its leading regional B2B business platform that provides quality electronics components with integrated R&D capabilities, Excelpoint will be the exclusive procurement partner for the electronics components used for the production of FRENZ™ Brainband
At the same time, PlanetSpark, the entrepreneurial and strategic investment arm of Excelpoint, is currently exploring its options to make an investment in Earable® Neuroscience

Singapore / Boulder, CO, Mar 31, 2023 – (ACN Newswire) – Earable® Neuroscience U.S. (“Earable®“), is pleased to announce a strategic partnership with Singapore-based Excelpoint Technology Pte. Ltd., (“Excelpoint“) to accelerate the commercialisation of the world’s first AI-powered consumer wearable, FRENZ™ Brainband, which tracks and stimulates brain activities to enhance mental well-being through improvements in sleep, relaxation and focus.

Mr. Tam Vu – CEO of Earable Neuroscience U.S. on the left, and Mr. Albert Phuay – Chairman of Excelpoint on the right – shared their visions in making positive impacts for human wellbeing.

The Strategic Agreement Signing Ceremony was presented by the leadership team from Earable Neuroscience U.S. and Excelpoint under the witness of the strategic partner – Analog Devices

FRENZ™ Brainband can precisely tracks vital data points in real-time, provides instant personalized feedback with cognitive behavioral therapy content via the integrated bone-conduction speakers, and leverages AI and machine learning algorithms to continuously evolve and provide meaningful insights to enhance mental well-being for individuals.

Since the COVID-19 pandemic began, researchers around the world have documented a surge in sleep disorders which affect overall health, safety and quality of life.

Powered by proprietary technologies, FRENZ™ Brainband is an invention of Earable® Neuroscience, founded by Dr Tam Vu, a scientist and professor with lifelong research in neuroscience and computer science, is a deep tech company focused on delivering scalable, human-centric neuroscience solutions that improve the everyday experience — from deep sleep to all-day focus.

With eight years of intensive deep tech R&D by scientists from the University of Colorado Boulder and University of Oxford, FRENZ™ Brainband holds 15 global patents in machine learning algorithms, materials science, and electrical engineering. FRENZ™ Brainband has been accorded multiple awards in various international technology and design competitions, marking its position as the world’s first AI-powered consumer head wearable dedicated for improving quality of sleep and cognitive functions.

Singapore-based Excelpoint was established in 1987 and it has grown into a leading regional electronics components distributor providing quality electronic components from leading electronics group such as ADI, Xilinx, NXP, Samsung, Qualcomm, Panasonic, Fujitsu, TDK, and Epson, among others as well as engineering design services and supply chain management to original equipment manufacturers (“OEMs”), ODMs and electronics manufacturing services (“EMS”) in the Asia Pacific region. Excelpoint is also the authorised distributor of Qualcomm in ASEAN, India, Australia and New Zealand.

Strategic Partnership of Earable® Neuroscience and Excelpoint to Accelerate the Commercialisation of FRENZ™ Brainband

Combined with its neuroscience data platform, Earable® Neuroscience is at the final stage of commercialisingFRENZ™ Brainband.

The main goal of the strategic partnership between Earable® Neuroscience and Excelpoint is for both companies to leverage on each other’s capabilities and networks to accelerate the commericalisation of FRENZ™ Brainband, thereby enabling an entirely new world of possibilities for neuroscience applications.

As part of the strategic partnership, Excelpoint will be the exclusive procurement partner for the electronics components used for the production of FRENZ™ Brainband. In addition, Excelpoint will provide favorable procurement terms to support Earable® Neuroscience so as to accelerate the commercialisation phase of FRENZ™ Brainband.

At the same time, PlanetSpark Pte. Ltd., (“PlanetSpark”) the entrepreneurial and strategic investment arm of Excelpoint, is currently exploring its options to make an investment in Earable® Neuroscience.

Commenting on the strategic partnership, Dr. Tam Vu, Founder and CEO of Earable® Neuroscience, said: “Earable® Neuroscience’s vision is to make the daily benefits of neuroscience accessible to billions of people to enhance their cognitive functions and unlock the brain’s potential, improving productivity, mental wellbeing, and quality of life.

Excelpoint’s global expertise and ecosystem in electronic components and supply chain management makes them the ideal partner to help us to secure the scalability of this vision.”

Mr. Albert Phuay, Chairman of Excelpoint added, “We share Earable® Neuroscience aspirations to drive innovation in the field of disruptive sleeptech and we are thrilled with this partnership to accelerate the commercialisation of FRENZ™ Brainband to new levels of growth and expansion.

We believe that Earable®’s advanced neuroscience expertise, combined with our ecosystem will enable us to scale up the production of high-quality and cutting-edge sleeptech products that make a meaningful impact in the lives of people around the world.“

About Earable® Neuroscience U.S.:

Earable® Neuroscience U.S. is a deep tech company building an applied neuroscience ecosystem to improve the everyday experience. Earable® Neuroscience invented the FRENZ™ Brainband – the world’s first AI-powered consumer wearable that can precisely track and stimulate brain activity for better sleep, focus, and relaxation. FRENZ™ holds multiple scientific awards and 15 global patents and patents pending.

MSRP Price is $490. Pre-order now available at www.frenzband.com

Media Contact: media@earable.ai

About Excelpoint:

Excelpoint is a leading regional electronics components distributor providing quality electronic components, engineering design services and supply chain management to original equipment manufacturers (“OEMs“), ODMs and electronics manufacturing services (“EMS“) in the Asia Pacific region. Established in 1987 and headquartered in Singapore, Excelpoint’s business presence spans more than 10 countries across Asia Pacific with a workforce of more than 700 people from different nationalities and cultural backgrounds. For more information on Excelpoint, please visit www.excelpoint.com

Media Contact: Ms Phuay Li Ying
Head, Corporate Development
Direct: +65 6210 6649
Mobile: +65 9688 8898
Email: phuay.li.ying@excelpoint.com.sg

Alltronics 2022 Profit Surges 61.6%, Driven by Robust Cost Control and Better Product Mix

HONG KONG, Mar 30, 2023 – (ACN Newswire) – Alltronics Holdings Limited ("Alltronics" or the "Group") (SEHK: 833), a leading electronic products manufacturer and provider of energy-saving business solutions, today announced its annual results for the year ended 31 December 2022 ("the year 2022" or "review year").

During the year 2022, profit for the year attributable to owners of the Company increased to HK$112.1 million from HK$69.3 million in the year 2021, as total gross profit for the year increased by HK$68.4 million to HK$328.6 million. The overall gross profit margin increased to 19.0% for the year 2022 (2021: 15.7%), primarily due to the Group's continued effort to tighten controls over production costs and overheads, an increase in the proportion of sales of products with higher average profit margins and the reversal of warranties. Total turnover increased slightly by 4.6% to HK$1,732.1 million due to the increase in sales of electronic products.

The Board has proposed the payment of a final dividend of HK2.0 cents per share. Together with the interim dividend of HK2.0 cents per share, the total dividends paid or payable for the year 2022 will be HK4.0 cents per share.

Sales of electronic products remain the major source of income of the Group, which comprises sales of finished electronic products, plastic moulds and components, and other components for electronic products. Within the segment of electronic products, sales of the Group's irrigation controller products increased by approximately HK$153.1 million to HK$761.4 million and sales of walkie-talkie products rose by approximately HK$25.1 million to HK$173.1 million.

In terms of geographical market, customers in the United States continued to be the major market for the Group's products and services, which accounted for approximately 74.8% of the total revenue for the year 2022 (2021: 74.0%).

Looking ahead, despite the relaxation of COVID-19 related control measures, the Group expects that the business environment will continue to be challenging for some time amid factors such as geopolitical tensions, fluctuation in exchange rate of Renminbi against United States dollars and Hong Kong dollars, risk of high inflation and rise in interest rate. The Group will continue its efforts to manage these factors and tighten controls over production costs and overheads. It will also seek to improve production efficiency and maximise gross profit margin. While focusing on its core electronic products segment, the Group will explore opportunities for new products and projects with existing and potential customers in Hong Kong, in the PRC and overseas to provide a better return to all shareholders.

About Alltronics Holdings Limited (Stock code: 833)
Alltronics Holdings Limited is mainly engaged in the design and manufacture of a wide range of electronic products with quality and style, supplying biodiesel products and energy efficient gas stoves, as well as the provision of energy-saving business solutions. The Company is a constituent stock of the Morgan Stanley Capital International ("MSCI") Hong Kong Micro Cap Index. For more information, please visit the company website
http://www.alltronics.com.hk/

Media enquiries
Strategic Financial Relations Limited
Vicky Lee Tel.: +852 2864 4834 Email: vicky.lee@sprg.com.hk
Carol Cheung Tel.: +852 2114 2200 Email: carol.cheung@sprg.com.hk
Betty Xu Tel.: +852 2114 4109 Email: betty.xu@sprg.com.hk
Website: www.sprg.com.hk

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

Inaugural InnoEX promoting Hong Kong’s Innovation and Technology Development

HONG KONG, Mar 28, 2023 – (ACN Newswire) – Innovation and technology (I&T) play an important role in Hong Kong's development blueprint, especially in the growing demand for smart city technologies and applications, bringing more opportunities for technology companies and start-ups. Leveraging Hong Kong's role as an innovation and technology hub, the first-ever InnoEX, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), will bring together international exhibitors and buyers, officials from Mainland China and ASEAN tech experts, research centres and thought leaders to promote cross-regional, cross-industry and cross-sector cooperation through I&T exchange. Taking place at the Hong Kong Convention and Exhibition Centre (HKCEC) from 12 to 15 April, alongside the HKTDC-organised Hong Kong Electronics Fair (Spring Edition) and Hong Kong International Lighting Fair (Spring Edition), under the theme of "Connecting the World with Innovations for Better Living", the three major technology exhibitions are set to attract over 2,600 exhibitors from 19 countries and regions, highlighting Hong Kong's growing strength as a centre for technology and innovation, while also reflecting further normalisation of international trade after Hong Kong's re-opening.

Joining today's press conference to introduce highlights and details of the three technology fairs, including the newly launched InnoEX, are Acting Government Chief Information Officer Mr. Tony Wong (L), HKTDC Deputy Executive Director Ms. Sophia Chong (centre), and Chairman, Electronics/Electrical Appliances Industries Advisory Committee of the HKTDC, Mr. Steve Chuang (R)

By utilising patented technology, Invisible & Innovative Technology (Asia) Limited is transforming wood waste into high-quality audio products, promoting sustainable development.

Scan the World Limited showcases at the press conference its metaverse solution, which combines real-world and online shopping experiences, and showcases tourist attractions in the digital world.

At a press conference held today to introduce this year's technology exhibitions, Ms. Sophia Chong, Deputy Executive Director of the HKTDC, said: "HKTDC is committed to promoting innovation and technology, fostering start-ups and promoting Hong Kong's development in the digital economy and smart city through a series of events themed on I&T, and promoting the strength of local I&T to the Mainland and overseas markets. The inaugural InnoEX is the flagship event of Business of Innovation and Technology Week (BITWeek), driven by the Government of HKSAR and HKTDC. BITWeek also features the HKTDC's Hong Kong Electronics Fair (Spring Edition) and the Digital Economy Summit co-organised by the HKSAR Government and Cyberport. Alongside the 2023 Hong Kong Web3 Carnival that will be held concurrently, the series of events reflect Hong Kong's determination to develop into an international centre for innovation and technology, confirming Hong Kong's leading position as an international trade exhibition centre.

Cross-industry cooperation facilitates commercialisation of innovation achievements

The Central Government has pledged to support Hong Kong's development as an international I&T centre under its 14th Five-Year Plan, with the aim of promoting the development of I&T. As a key highlight of the forthcoming three technology fairs, the inaugural InnoEX will build on the success of the HKTDC's International ICT Expo by showcasing exceptional innovations and a range of cutting-edge I&T solutions on smart living, inviting reputable international experts and opinion leaders to discuss some of the most important issues in the area of technological development. InnoEX will promote multifaceted cooperation, including business-to-business (B2B), government-to-government (G2G), and government-to-business (G2B), and will help to build bridges between technology institutions and markets with an aim to promote the commercialisation of innovations, as well as support global market expansion. On the first day of the event, Professor Sun Dong, Secretary for Innovation, Technology and Industry, will officiate at the opening ceremony, and Professor Zhang Guangjun, Vice Minister of Science and Technology, will deliver the keynote address.

"Smart Hong Kong Pavilion" and AIR@InnoHK showcase cutting-edge tech solutions

The first-ever InnoEX focuses on several themes, including the Smart City, Smart Economy, Smart Environment, Smart Government, Smart Living and Smart Mobility. The Office of the Government Chief Information Officer (OGCIO) of the HKSAR will set up the "Smart Hong Kong Pavilion", featuring more than 100 innovative solutions for driving the smart city development in Hong Kong, including technology solutions adopted by government departments and winning exhibits from local innovators. The Innovation and Technology Commission, meanwhile, will present AI & robotics projects undertaken by 14 research laboratories in collaboration with world-renowned universities under InnoHK.

Close cooperation already exists between Hong Kong and Mainland China in relation to I&T development. Twelve pavilions from 10 Mainland China provinces and cities will join the exhibition to promote technological exchange and cooperation. The pavilions include Zhongguancun Beijing, Hong Kong Alumni Association of Beijing Universities, pavilions from Zhejiang and Hangzhou, pavilions from Jiangsu and Nanjing, Qingdao Qilu Software Park, G60 Shanghai Songjiang Science and Technology Innovation Corridor, the Hong Kong / Shanghai Data Cooperation Pavilion, Shenzhen Pavilion, and pavilions from Xiamen and Chengdu respectively.

Other exhibitors include local universities and research institutions, leading technology companies such as Huawei and Hikvision, and multiple local and overseas pavilions, including B4B Challenge, Cyberport, Hong Kong Science and Technology Parks, Smart City Consortium, the French "So French So Innovative" pavilion and a Canadian pavilion.

At the same time, representatives from government, relevant industry sectors, academia and research sectors from around the world, including industry giants such as Tencent, Samsung Electronics and Alibaba, will also be present to learn about exhibitors' solutions and/or place purchase orders.

ASEAN officials attend Roundtable to discuss experiences in smart city development

Various countries in the ASEAN bloc are actively developing smart cities, and the InnoEX event will serve as an ideal platform to promote cooperation among them. Over 60 government officials from ASEAN countries such as Indonesia, Malaysia, The Philippines, Singapore, Thailand and Vietnam as well as from Mainland China, who are responsible for promoting smart city development will visit InnoEX, Some of them will participate in the ASEAN Roundtable, where they will share their experiences with representatives from the HKSAR Government and exhibitors from different countries and regions. This will also provide an opportunity for exhibitors and officials to establish connections and promote cooperation.

Distinguished international experts share latest technological trends

Another highlight event is the InnoEX Forum, with internationally renowned technology experts invited as keynote speakers. Named by Forbes as a ground-breaking female entrepreneur in Southeast Asia, Dr. Ayesha Khanna, CEO of Addo AI and a strategic advisor on artificial intelligence, smart cities, and the metaverse to leading corporations and governments worldwide including SMRT (Singapore's prominent public transport company), Pfizer, SOMPO (Japan's largest insurance firm), Habib Bank and Smart Dubai etc. Ayesha will share her insights on how companies can utilise artificial intelligence (AI) and automation to stay ahead of the competition. Mr. Matthew Griffin, a futurist and foresight expert with clients including world leaders, G7 and G20 governments, and the most recognised brands such as Accenture, BCG, Microsoft and Samsung, will discuss how technology is expected to impact different industries in the future. Also joining the forum to discuss a range of crucial technological issues will be government officials from different provinces and cities in Mainland China, representatives from organisations promoting smart city development worldwide, top executives from leading technology enterprises, and leaders from unicorn companies.

InnoEX offers a range of thought-provoking events for participants. Among them are start-up introduction and sharing sessions, mentoring sessions and investment matchmaking meetings, providing a unique platform through which start-ups can showcase their products and ideas and pitch to potential buyers and investors. By opening new avenues for business development, the various events will help to pave the way to commercial success for startup entrepreneurs.

Spring Electronics Fair showcases latest innovative products

Another highlight of BITWeek is the HKTDC Hong Kong Electronics Fair (Spring Edition), with special theme zones including the Hall of Fame, the Startup Zone and Tech Hall, showcasing an abundance of cutting-edge electronic products. A series of activities will be held as part of the fair including the "Under 30 – Tech Trends Symposium for the Next Generation". Respected industry leaders such as Ms. Maria Tang, Corporate Vice President, AMD; Mr. Bruce Huang, Vice President of Research and Development, CloudMinds; and Mr. Billy Siu, Business Development Director-HK and Taiwan, Geek Plus International, will share their insights on the impact of robotics and automation in technological development, smart manufacturing, and people's daily lives.

Spring Lighting Fair illuminates path towards intelligent lighting solutions

This year's HKTDC International Lighting Fair (Spring Edition) will feature the Hall of Aurora, where leading brands and innovative lighting designs are on display, while the Connected and Smart Lighting zone will present an array of innovative solutions that promote energy conservation and unlock the potential for smart homes and offices, and the Innobuild zone will bring exhibitors of building technologies, safety, security and electrical systems for buildings, building materials and hardware all under one roof. The exhibition will also cover other areas such as commercial lighting, decorative lighting, residential lighting and technical lighting.

The Asian Lighting Forum, co-organised by the Hong Kong Electronics & Technologies Association and the Hong Kong Institution of Engineers, under the theme "Illuminating a Connected World", is a must-attend event for those looking to stay ahead of the curve in the lighting industry. Distinguished speakers will delve deep into the latest industry issues ranging from human-centric and smart lighting solutions to sustainability developments and world-class lighting designs that transform ambience.

EXHIBITION+ service helps SMEs expand business opportunities

The three tech fairs will continue to adopt the HKTDC's EXHIBITION+ model that integrates online and offline elements. It includes physical exhibitions, the Click2Match smart business matching platform, online-and-offline seminars and forums (Intelligence Hub), and the hktdc.com Sourcing platform. This integrated approach aims to extend face-to-face interactions and promotional activities from in-person events to online platforms. The Click2Match intelligent business matching platform will be open to participants from 12 to 22 April.

*The three tech fairs include the first-ever InnoEX, jointly organised by the HKSAR Government and the HKTDC, the HKTDC Hong Kong Electronics Fair (Spring Edition) and the HKTDC Hong Kong International Lighting Fair (Spring Edition).

Websites
– InnoEX: http://innoex.hktdc.com/
– Hong Kong Electronics Fair (Spring Edition): http://hkelectronicsfairse.hktdc.com/
– Hong Kong International Lighting Fair (Spring Edition): http://hklightingfairse.hktdc.com/
– Photo download: https://bit.ly/40L33Pz

About HKTDC

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

Media enquiries
For more information, please contact Raconteur:
Molisa Lau, Tel: +852 6187 7786, Email: molisalau@raconteur.hk
Betsy Tse, Tel: +852 9742 7338, Email: betsytse@raconteur.hk

The HKTDC's Communications and Public Affairs Department:
Eric Wong, Tel: +852 2584 4575, Email: eric.ks.wong@hktdc.org
Clementine Cheung, Tel: +852 2584 4514, Email: clementine.hm.cheung@hktdc.org

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

VueReal Inc. Announces the Appointment of Kevin Soukup, a Semiconductor Industry Veteran, as a Member of the Board of Directors

WATERLOO, ONTARIO, Mar 20, 2023 – (ACN Newswire) – 2023 continues to see growth opportunities as VueReal builds off the momentum gained from 2022. VueReal remains focused on its vision of enabling new, innovative, and enriching products through sustainable micro-pixel fabrication.

The significant growth opportunity in automotive, aerospace, consumer electronics, health and medical demands detailed planning to stay focused on its vision. In addition, different fabrication scaleup opportunities for VueReal in North America require deep and tough strategic discussion and planning. To ensure that VueReal can scale up successfully and strategically, the company is excited to welcome Kevin Soukup to its Board of Directors.

Dr. Reza Chaji, CEO of VueReal, said, "We're excited to announce that Kevin Soukup has joined VueReal's Board of Directors. Kevin brings a wealth of semiconductor knowledge and experience and will play a key role in helping VueReal scale its business." Kevin started his career in the semiconductor industry with Samsung in 2000, where he spent 11 years in a variety of engineering and operations leadership roles. Kevin joined GlobalFoundries in 2011, where he supported the ramp-up of its semiconductor wafer manufacturing facility in Malta, NY. He currently serves as the company's Chief Strategy Officer, responsible for long-range planning, integrated strategy and corporate development.

With the added expertise to our Board and organization, VueReal has set its sights on establishing itself as a critical supplier of micro-pixel fabrication for strategic markets in North America and Europe.

"I'm excited to join VueReal's board of directors at such a pivotal time for the company," said Kevin Soukup. "Their talented team has developed innovative technologies which enable mass production of high-quality custom displays that will significantly accelerate the uLED adoption curve. I look forward to working with the VueReal team to help steward this next stage of growth."

About VueReal

VueReal, a semiconductor and cleantech company, has developed a revolutionary semiconductor fabrication process called the microSolid Printing platform, enabling the efficient, practical, and scalable production of microLED/microSensor applications. This platform extends the use of microLED/microSensors to automotive, aerospace, smartwatch, smartphone, TV, IT, medical, and more. VueReal has established strong partnerships with leading industry players to commercialize its solutions.

VueReal also offers customized display manufacturing services for niche and mainstream markets, leveraging its state-of-the-art facilities and multidisciplinary research team. VueReal has used its platform to develop and commercialize microLED displays for different applications in North America.

Contact Information
Reza Chaji
CEO
info@vuereal.com

SOURCE: VueReal Inc.

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

Impro Precision: 2022 revenue rises by 15% for the first time exceeding RMB 4 billion, four growth pillars to support future development

HONG KONG, Mar 15, 2023 – (ACN Newswire) – Impro Precision (01286.HK), one of the world's top 10 manufacturers of high-precision, high-complexity, mission-critical casting and machined components, reported its 2022 annual financial results. The Company's sales revenue increased by 15.3% year-on-year to HK$4.355 billion (HK$, same below), which is strong growth in view of last year's global economic situation.

The areospace, medical and energy, and diversified industrial end markets are the two growth drivers of the Company

Revenue from the areospace, medical and energy end market grew by 53.6% to $516 million, while revenue from the diversified industrial end market grew by 24.5% to $2.139 billion, which are the two growth pillars of the company. Regarding the automotive end market, revenue decreased slightly by -1.4% to $1.70 billion due to a fire incident at the Nantong plant and a shortage of components in Europe due to the Russia-Ukraine conflict. The Company pointed out that it has strategically shifted the production capacity of the passenger car end market to the commercial vehicle end market, including hydrogen vehicles. In fact, revenue from the commercial vehicle end market increased by 18.7% to $896 million, which basically was able to offset the decline in revenue from the passenger car end market.

Net profit attributable to shareholders increased significantly by 52%, gross profit margin and adjusted operating profit margin continued to improve

Net profit attributable to shareholders for 2022 was $582 million, an increase of 52.0% year-over-year, and adjusted net profit attributable to shareholders for 2022 would have totaled $ 649 million, an increase of 53.7% year-over-year, if a provision for one-time loss from the Nantong plant fire incident and amortization relating to past acquisitions were excluded. The Company's gross profit margin was 29.0%, which was 1.9% higher than 2011 , and adjusted EBITDA operating margin was 28.2%, which was 3.3% higher than last year.

Two successful mergers and acquisitions in 2022 with significant business integration benefits

During a conference on the Company's earnings, the management pointed out that, while continuing to promote the strategy of "global footprint" and "diversified end-market", the "twin growth engine" strategy has also been successfully implemented. In 2022, the Company acquired Foshan Ameriforge, which focuses on the aerospace and energy end markets, and Danfoss Jiangsu, which is engaged in the hydraulic end market. Among them, the integration of Foshan Ameriforge has been highly favorable. This plant is expected to nearly double its sales and improve margins this year. Also, the business integration of Danfoss Jiangsu is progressing well with growth to be realized this year, and still stronger earnings growth expected in 2024. The Company will continue to look for new target companies with the objective of driving integration.

Asian markets will be the Company's third growth pillar

The company said it has seen a rebound in demand from Asian customers from January and February, and could become the Company's fastest-growing region in 2023. In addition, the consolidated results of the two factories acquired in China and the expected gradual resumption of production at the Nantong plant will also push up the sales performance in Asia. As of February 28, 2023, the Group's undelivered orders on hand amounted to $3.98 billion, up 6.2% year-on-year.

Although orders on hand rose slightly by 6.2%, the situation should be more satisfactory, mainly due to the different order patterns of the two newly acquired Chinese companies. Their customers have a shorter order cycle in general, which may not be fully reflected in the orders on hand. It is expected that future growth would remain strong.

The Mexico plants will be the Company's fourth growth pillar

Three plants are in operation at the Group's Mexico SLP Campus. Of these, the precision machining plant, achieved a good profit in 2022, while the sand casting plant posted a bigger loss last year as it was still in the ramp-up phase. Despite this, the Company will accelerate the completion of the SM building of the sand casting plant from Phase II to Phase I due to a significant increase in orders from North American customers that exceeded original expectations. The investment casting plant, which began operations at the end of November last year, is aiming to reach break-even point this year. The fourth aerospace component plant is expected to complete equipment installation in May or June this year, it will begin trial production and obtain aerospace industry certification by the end of 2023, and start ramping up production next year. The fifth surface treatment plant will mainly serve the aerospace industry. Management expects that all five plants in Mexico will enter the first phase of production this year.

Although the Mexico plants are currently experiencing lower profit margins due to being in the ramp-up phase, the Company is optimistic about their potential growth. With the completion of the infrastructure projects of the Mexico plants by the end of this year, the Group's capital expenditure is expected to reduce to $400-500 million, which is similar to the Group's future annual depreciation expenses. While this may put some short-term pressure on the Group's profit margin, the Mexico plants development effectively reduces geopolitical risk thereby further propelling the expansion of the North American market which will create another growth opportunity in the mid to long term.

Two interim dividend distributions in 2022 with an annualized dividend yield of approximately 5.39%

With the Group's growth in profit, solid financial position and healthy cash flow in 2022, the Company announced its plan to distribute dividends at a rate of approximately 46% of the adjusted earnings per share. The second 2022 interim dividend is 8.0 HK cents per share, and the dividend for the year amounted to 16.0 HK cents per share, showing a remarkable increase of 58.4% compared with the previous year. Based on the share price on the day of the results announcement, the annualized dividend yield is approximately 5.39%. Like other Hong Kong blue-chip companies practice, the Company has been distributing interim dividends twice a year since 2021. This practice allows for the distribution of dividends in a faster manner, providing shareholders with an early return on their investment.

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