HONG KONG, Jun 28, 2023 – (ACN Newswire) – Perfect Medical Health Management Limited (the "Company", Stock Code: 1830.HK), one of the largest aesthetic medical operators in the world, together with its subsidiaries (collectively referred to as the "Group"), is pleased to announce its annual results for the year ended 31 March 2023.
RESULTS HIGHLIGHTS
— The Group's revenue increased by 2.9% to HK$1,389.3 million, thanks to the better performance in recent months after the gradual relaxation of all social distancing measures in Hong Kong.
— The Group's EBITDA increased by 2.7% to HK$482.3 million.
— The Group's net profit increased by 3.4% to HK$315.6 million, representing the net profit margin of 22.7%. Basic earnings per share was HK25.3 cents.
— The Board recommends the payment of a final dividend and special dividend of HK12.3 cents per share and HK4.7 cents per share respectively. Together with the interim dividend of HK13.0 cents, the total dividend payout ratio is expected to be 118.6%.
— The Group operated a total of 294,000 square feet in Hong Kong, China, Australia and Singapore, with an addition of four shops in Hong Kong, Guangzhou, Shanghai and Beijing during the year.
For the year under review, the Group has recorded a year-on-year increase in both revenue and net profit, completely turnaround from the lackluster performance in the first half year under the pandemic. The Group's revenue increased by 2.9% to HK$1,389.3 million (FY2022: HK$1,350.0 million). At EBITDA level, the Group increased by 2.7% to HK$482.3 million (FY2022: HK$469.5 million). During the year, the Group has taken a prudent approach in our business expansion to better respond to the dynamic operating environment and to create shareholder value. Profit attributable to equity holders of the Company was HK$315.6 million, increased by 3.4% year-on-year (FY2022: HK$305.2 million), representing a net profit margin of 22.7% for the year (FY2022: 22.6%). Basic earnings per share was HK25.3 cents (FY2022: HK24.8 cents).
As at 31 March 2023, the Group operated a total of 294,000 square feet in Hong Kong, China and overseas.
Hong Kong Operation
Revenue from Hong Kong operation increased by 6.7% to HK$1,040.1 million (FY2022: HK$975.1 million), significantly rebound from a 21.5% decrease in the first half year, thanks to the pick up in shop traffic and utilization, compensated the business suspension of 20 days in April 2022 and the slow recovery in the first half year.
As at 31 March 2023, the Group has a well established network of service centres in Hong Kong covering a total of 189,000 square feet. During the year, the Group has opened an additional service centre in Yuen Long to capture additional demand in the surrounding areas.
In the past three years, the Group has been a fast mover in Hong Kong with our service area increasing substantially from 125,000 square feet in March 2020 to 189,000 square feet in March 2023. During the year, we observed a progressive improvement in shop traffic and utilization and a gradual return of new customers in Hong Kong.
As for the medical business, our offering comprises a range of complementary services including hair growth treatment, pain treatment, health screening service and others, to fully collaborate with our aesthetic medical services to form a full range of care towards a customers' lifecycle.
Regions outside Hong Kong
Revenue from regions outside Hong Kong decreased by 6.9% to HK$349.2 million (FY2022: HK$374.9 million), owing to the loss in revenue in mainland China but helped by the promising results in both Australia and Singapore. As at 31 March 2023, the Group has an extensive network in China, Macau, Sydney, Melbourne and Singapore, covering a gross service area of approximately 105,000 square feet.
For the year under review, our business in mainland China recorded a healthy profit throughout the whole year, demonstrating our time-proven business model and long history of establishment in China. In FY2023, the Group has opened three shops in strategic locations in Guangzhou, Shanghai and Beijing to strengthen our presence. With much similarities between Hong Kong and Singapore market, our performance has been outstanding in Singapore since its establishment in July 2021.
Prospects
Dr. Au-Yeung Kong, the executive director, chairman and chief executive officer of Perfect Medical, said that "the business environment is expected to be less volatile after the cessation of social distancing measures in Hong Kong and mainland China. In the post-pandemic era, we remained steadfast in our core strategy of "Healthcare + Medical Beauty" to satisfy the individual needs of the consumers.
Having operated for more than two decades in Hong Kong and elsewhere, it's our dedication to become a global aesthetic medical and healthcare operator in the coming future. We expect the normalization would create a room of opportunities in the consumer market.
In the Greater Bay Area and the Eastern China, we will increase our penetration gradually in order to lay a strong foundation for further expansion. As for the international expansion, efforts would be made to further penetrate into existing and new regions in the long run."
For further information of the Group's FY2022/23 annual results, please refer to the Company's Annual Results Announcement on the Hong Kong Stock Exchange website at: https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0628/2023062800337.pdf
About Perfect Medical Health Management Limited
Perfect Medical Health Management Limited is a multinational aesthetic medical corporate and one of the largest aesthetic medical operators in the world established in 2003. The Group focuses primarily on non-invasive aesthetic medical services and medical services in Hong Kong, China, Macau, Australia and Singapore with a total service area spanning approximately 294,000 square feet. Our operation offers a broad spectrum of professional services with assurance of utmost safety and efficacy. The Company was included as a constituent stock of the MSCI Hong Kong Small Cap Index on 27 May 2021, demonstrating the confidence from the capital market and recognising the investment value of the Company.
Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Tag: Healthcare & Pharm
Xuanzhu Biopharm, a subsidiary of Sihuan Pharmaceutical, Its Innovative Drug Anaprozole Sodium Enteric-coated Tablets Obtains Drug Registration Approval From NMPA
HONG KONG, Jun 27, 2023 – (ACN Newswire) – Sihuan Pharmaceutical Holdings Group Ltd. (the "Company" or "Sihuan Pharmaceutical", together with its subsidiaries, the "Group", HKEX stock code: 0460) is pleased to announce that Xuanzhu Biopharmaceutical Co., Ltd. ("Xuanzhu Biopharm"), a non-wholly owned subsidiary of Company, has received a drug registration approval from the National Medical Products Administration (the "NMPA") of China of Anaprozole Sodium Enteric-coated Tablet for the treatment of duodenal ulcer. It is the first drug approved for marketing by Xuanzhu Biopharm, which marks a new milestone for Xuanzhu Biopharm from R&D to commercialization.
Anaprozole Sodium Enteric-coated Tablet is currently the first and only proton pump inhibitor (PPI) fully independently developed in China. Its Phase I-III clinical studies are all based on the Chinese population, so it is more suitable for Chinese patients. Anaprozole tablets can effectively inhibit the secretion of gastric acid and has the characteristics of fast onset, stable therapeutic effect, less individual variation, and long half-life. Clinical data shows that Anaprozole is metabolized through multiple CYP enzymes and non-enzymes, so the risk of drug to drug interactions is low when it is used in combination with other drugs. The drug and its metabolites are excreted through the gut and kidney, which provides safer medication options for patients with renal insufficiency.
In addition, Anaprozole Sodium Enteric-coated Tablet is not only used to treat duodenal ulcer, but also is expanding its new indication for the treatment of adult reflux esophagitis (RE). Its Phase II clinical trial has completed the enrollment of subjects, and its Phase III clinical trial is planned to initiate by the end of 2023.
Dr. Che Fengsheng, Chairman and Executive Director of Sihuan Pharmaceutical Holdings Group commented, "We are an innovative pharmaceutical company with roots in China and a global perspective. Our group is committed to the continuous research and development, production and commercialization of class 1 drugs with core proprietary intellectual property rights to address unmet clinical medical needs. PPI is the preferred drug choice for the treatment of peptic ulcer. The approval of Xuanzhu Biopharm's Anerazole Sodium Enteric-Coated Tablets will bring more treatment options for patients. It is also a shot in the arm for injecting billions of dollars into the acid suppressant market. According to statistics, the number of patients with peptic ulcer in China reached over 70 million in 2021, and the total market sales size of proton pump inhibitors in China is nearly RMB30 billion, of which the oral proton pump inhibitor market is nearly RMB13 billion, which reflects that the market is relatively large. Meanwhile, based on their excellent clinical performance, Anaprozole Sodium Enteric-coated Tablet will be gladly accepted by doctors and patients and will have huge commercial potential and clinical value in the future."
About Sihuan Pharmaceutical Holdings Group Ltd.
Founded in 2001 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in 2010, Sihuan Pharmaceutical Holdings Group Ltd. is an international medical aesthetic and biopharmaceutical company led and driven by innovation, with a leading independent production, and R&D technology platform, a rich global product pipeline and a mature and excellent sales system. Focusing on high-growth therapeutic areas such as medical aesthetics, oncology, metabolism, diabetes, cardiovascular and cerebrovascular, modern Chinese medicine and industrial hemp, it adheres to its overall strategic objective of "Adhering to the full-speed promotion of a two-wheeled strategy of Sihuan medical aesthetics and biopharmaceuticals" to build a leading medical aesthetics and biopharmaceutical company in China.
About Xuanzhu Biopharmaceutical Co., Ltd.
Xuanzhu Biopharmaceutical is the innovative drug subsidiary of Sihuan Pharmaceutical. It is an innovative pharmaceutical company with roots in China and a global perspective, focusing on major diseases such as digestion, oncology and non-alcoholic steatohepatitis, and is committed to the continuous research and development, production and commercialization of class 1 drugs with core proprietary intellectual property rights to address unmet clinical medical needs. The company has a team with extensive experience in the development and industrialisation of innovative drugs. Having been involved in the research of digestion, oncology and non-alcoholic steatohepatitis for many years, the company has a deep understanding and international vision of the development of new drugs in related fields and their future development direction. The company has two R&D platforms: small molecule chemistry and large molecule biologics. The dual engines drive the company's innovation and development, forming a product pipeline that covers small molecule, monoclonal antibodies, bispecific antibodies, antibody-drug conjugate (ADC) and other types of products. The company adheres to the strategic concept of "innovation driven, promoting the development of new drugs in China and serving human health", and the values of "open innovation, courageous commitment, overcoming difficulties and scientific rigor". With a focus on unmet clinical needs, the company continues to develop new class 1 drugs with international competitiveness, and is committed to developing into a first-class innovative pharmaceutical
company with independent research and development, production, and sales capabilities.
For more information about Sihuan Pharmaceutical, please visit the Company's website at https://www.sihuanpharm.com/
Issued by Porda Havas International Finance Communications Group for and on behalf of Sihuan Pharmaceutical Holdings Group Ltd. For further information, please contact us at sihuanpharm.hk@pordahavas.com.
Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com
DC Healthcare to Raise RM49.81 Million from IPO
KUALA LUMPUR, Jun 27, 2023 – (ACN Newswire) – DC Healthcare Holdings Berhad, an established aesthetic medical services provider specialising in the provision of non-invasive and minimally invasive procedures, launched the prospectus today in conjunction with the Group's initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.
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M&A Securities Sdn Bhd [L-R] |
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The IPO will raise RM49.81 million via the issuance of 199.26 million new shares at the IPO price of RM0.25 per share to fund DC Healthcare's growth plans as well as working capital and repayment of borrowings. The proceeds will be used in the following manner:
– RM9.44 million to establish aesthetic medical clinics
– RM13.12 million to purchase medical machinery and equipment
– RM6.24 million to repay borrowings
– RM17.01 million for working capital, including staff salaries as well as medical supplies and consumables
– RM4.00 million for estimated listing expenses
Managing Director of DC Healthcare, Dr. Chong Tze Sheng said, "DC Healthcare's expansion plan is based on demand for aesthetic medical services as people are becoming more aware on skin health, as well as wanting to look and feel good about themselves, especially in the long run. It is projected that aesthetic medical services and general medical services related to skin disease will increase due to people having more disposable income for discretionary spending and becoming better educated on skin conditions."
Mr. Danny Wong, Deputy Head of Corporate Finance, of M&A Securities Sdn Bhd said, "The Malaysian market for aesthetic medical services will continue to grow supported by demand as incomes rise and populations aged. This will be helped along by the increased consumerism and growing influence of social media removing the stigma of aesthetic medical procedures. With the growing acceptance of such treatments, the domestic aesthetic medical services market is projected to have a compound annual growth rate of 18.8% from 2021 to 2027 valuing the total market at RM1.03 billion."
DC Healthcare – or famously known 'Dr. Chong Clinic' or 'Klinik Dr. Chong' – provides aesthetic services, general medical services and sale of skincare products. DC Healthcare currently has 13 clinics and 10 LCP Certified Aesthetic Physicians, assisted by 29 resident medical doctors in the central and southern regions of Peninsular Malaysia namely in Negeri Sembilan, Selangor, Johor, and Kuala Lumpur.
For the financial year ended 31 December 2022 (FYE2022), the Group recorded revenue of RM51.96 million compared with RM25.48 million in FYE2021 with a net profit margin of 18.40% and 18.06% respectively.
Aesthetic services contributed 89.96% to total revenue for FYE2022 and 84.88% in FYE2021, compared to general medical services who contributed 10.04% in FYE2022 and 15.12% in FYE2021.
In addition, for the financial year ended 31 December 2020 (FYE2020) and 31 December 2019 (FYE2019), DC Healthcare registered revenue RM14.45 million and RM12.21 million respectively. Aesthetic services contributed 89.80% in FYE2019 and 87.50% in FYE2020 to the total revenue, while general medical services contributed 10.20% in FYE2019 and 12.50% in FYE2020.
DC Healthcare Holdings Berhad: http://dchealthcareholdings.com/
Image 1
DR. CHONG TZE SHENG, Managing Director; DATUK BILL TAN, Managing Director of Corporate Finance, M&A Securities Sdn Bhd [L-R]
( https://photos.acnnewswire.com/tr:n-650/2023627.DCHealthcare1.jpg )
Image 2
1. Mr. Lee Yoke Wah, Associate Director of Corporate Finance, M&A Securities Sdn Bhd
2. Ms. Sim Lee San, Independent Non-Executive Director, DC Healthcare Holdings Berhad
3. Ms. Rekha A/P Palanysamy, Independent Non-Executive Director, DC Healthcare Holdings Berhad
4. Datuk Dr Mohd Noor Bin Awang, Independent Non-Executive Chairman, DC Healthcare Holdings Berhad
5. Dr. Chong Tze Sheng, Managing Director, DC Healthcare Holdings Berhad
6. Datuk Bill Tan, Managing Director of Corporate Finance, M&A Securities Sdn Bhd
7. Dr. Lai Ngan Chee, Executive Director, DC Healthcare Holdings Berhad
8. Ms. Yap Ee Ling, Independent Non-Executive Director, DC Healthcare Holdings Berhad
9. Mr. Danny Wong, Deputy Head of Corporate Finance, M&A Securities Sdn Bhd [L-R]
( https://photos.acnnewswire.com/tr:n-650/2023627.DCHealthcare2.jpg )
Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Prenetics and Globally Renowned Scientist Prof. Dennis Lo Establish US$200m Joint Venture “Insighta” for Breakthrough Multi-Cancer Early Detection Screening
HONG KONG, Jun 26, 2023 – (ACN Newswire) – Prenetics Global Limited ( https://ir.prenetics.com/ ) (NASDAQ: PRE ( https://www.nasdaq.com/market-activity/stocks/pre) ), a leading genomics-driven health sciences company, and Prof. Dennis Lo ( https://www.cuhk.edu.hk/med/cpy/Research/DennisLo.htm ) today announce they have entered into an agreement to establish a joint venture, named Insighta. The board of directors of Prenetics Global Limited has unanimously approved the transaction.
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— Insighta is a 50/50 Joint Venture by Prenetics and Professor Dennis Lo.
— Insighta is powered by technology developed by the Centre for Novostics which is supported by the InnoHK Initiative of the Innovation and Technology Commission of the Hong Kong SAR Government.
— By 2030, the early cancer detection screening opportunity is estimated to be US$6bn in Asia on an annual basis. (1)
— Prof. Dennis Lo, is the Li Ka Shing Professor of Medicine of the Chinese University of Hong Kong (CUHK) and the Scientific Director of the Centre for Novostics.
Transaction Terms – Prenetics will receive a 50% equity stake, while Prof. Lo's party will also receive a 50% equity stake. The joint venture will be governed by a six-person board of directors composed of three directors from each side, with Prof. Lo as the Chairman and Danny Yeung as the CEO. The US$200m transaction makes it the largest private life sciences deal in Hong Kong history and one of the largest in the region.
Prof. Lo will contribute:
World-Class Science – Prof. Lo, renowned for his ground-breaking work in non-invasive prenatal testing (NIPT) and in liquid biopsy, has been bestowed with some of the highest distinctions in life sciences. These accolades include his induction as a Fellow of the Royal Society in 2011, recipient of the esteemed Royal Medal and Breakthrough Prize in 2021, and, most recently, the distinguished Lasker Award in 2022 (2).
Prof. Lo, as the Associate Dean (Research) of the Faculty of Medicine at the Chinese University of Hong Kong, consistently demonstrates outstanding academic leadership. His influence extends far beyond the realm of academia, however. Prof. Lo's ground-breaking NIPT technology, which he introduced to the world in 2011, now provides standard of care prenatal screening for over 10 million expectant mothers annually across more than 90 countries. Given the significant global market value of the NIPT technology, currently standing at US$7.3bn, its increasing application is anticipated to drive it to an estimated US$13.1bn by 2027 (3).
"FRAGMA", a new breakthrough technology in which Prof. Lo published in 2022 (4). will be the technology utilized for multi-cancer early detection screening for Insighta.
Prof. Lo's entrepreneurial success is marked by his co-founding of Cirina, a company acquired by Grail in 2017 for US$300m. Grail itself was subsequently bought by Illumina for a remarkable US$7.1bn, further highlighting Prof. Lo's considerable impact in the life sciences industry.
Prenetics will contribute:
Robust Capital – Prenetics will provide consideration of US$100m, with US$80m in cash and US$20m in Prenetics stock. The significant outlay by Prenetics demonstrates a shared belief in Insighta's potential and will be directly utilized to fast-track clinical trials and commercialization of the breakthrough early cancer detection technology.
Strong Management and Commercialization – Danny Yeung, esteemed serial entrepreneur and the dynamic force behind Prenetics, will extend his leadership role as CEO to Insighta. Danny's proven track record positions him perfectly for steering Insighta's journey ahead.
Danny Yeung, Chief Executive Officer of Prenetics and Insighta said, "I am absolutely thrilled to embark on this Joint Venture alongside Prof. Dennis Lo, a figure of immense reverence in the scientific community. His pioneering work in genomics has already transformed millions of lives around the globe. With Insighta, we are presented with a once in a lifetime opportunity. The potential of our Presight test is immense, potentially influencing the health of 1 billion individuals in Asia. Our primary focus for the initial launch will be in Mainland China, Hong Kong and other parts of Asia. On a global scale, we intend to forge alliances with healthcare institutions and forward-thinking governments that align with our vision – a commitment to save lives through the power of early cancer detection. Given the scale of our mission to combat cancer, we are enthusiastically open to collaborations with researchers and partners worldwide. We wholeheartedly welcome your contributions and insights."
Prof. Lo said, "I am genuinely exhilarated to be at the forefront of such a ground-breaking new technology. Joining forces with Danny Yeung and Prenetics is particularly inspiring – a joint venture that not only ensures robust capital resources, strong management but also a mutual vision of global health transformation. We are driven by the profound potential to save countless lives, and together, we will make a significant stride towards a healthier future for all."
Prof. Lo further stated "Insighta is dedicated to introducing a breakthrough technology, "FRAGMA". The science behind Presight holds immense potential for multi-cancer early detection. Epigenetics studies the modifications of DNA that affect its behaviour without changing the DNA sequence. Fragmentation patterns of plasma DNA can be used as an epigenetics-based cancer test with high accuracy and a simple workflow. Another key distinguishing hallmark of Presight is its cost-effectiveness. This innovation doesn't merely represent a significant leap in cancer detection-it has the potential to transform millions of lives and change the trajectory of cancer prognosis, offering hope where it was once scarce."
Danny Yeung further said "We are mindful that cost is a vital determinant in the viability of any breakthrough science and Presight has been engineered with cost as a critical factor. With a target price of less than US$200 per test, Insighta exemplifies our commitment to advancing science for the betterment of global health. Our objective is to transform early cancer detection from a luxury to a universally accessible necessity."
Market Opportunity
Cancer is a global health challenge causing 10 million deaths each year worldwide, including 6 million fatalities in Asia alone (5). The key to enhancing survival rates lies in early detection, yet unfortunately, most cancers are diagnosed in their advanced stages when treatment options are limited and prognoses are often dire. Despite the importance of screening, the current globally-accepted guidelines only encompass five specific types of cancer. Strikingly, there are no recommended early detection screenings for cancers accounting for nearly 71% of global cancer-related deaths (6).
Insighta's first breakthrough test, Presight, is set to begin a multi-country 5000-patient clinical trial in early 2024. The initial Presight tests will be focused on liver and lung cancer with it first being made commercially available in Mainland China and Hong Kong in 2025. Liver and lung cancers are the first and second most lethal forms of cancer in Mainland China and pose a significant health threat across all of Asia. In 2027, Insighta plans to launch Presight One, a multi-cancer early detection test capable of detecting more than 10+ different cancers.
Considering that the median age for cancer diagnosis is 66 years, it is clear that individuals aged 40 and above are the most likely to reap the benefits of early cancer detection (7). This demographic represents a staggering 2.03 billion people globally, with Asia contributing to a substantial 1.22 billion of this population. These statistics underscore the urgent and pressing need for innovative early cancer detection solutions. By the year 2030, the demand for early detection cancer screenings could potentially translate into 30 million tests in Asia, annually. This indicates not only a promising advance in healthcare but also a substantial market opportunity, which Prenetics estimates at US$6 billion. Insighta's focus underscores our mission of saving lives through early cancer detection, and we see this forecast as a testament to the game-changing impact of our cutting-edge technology.
Danny Yeung concluded, "This represents a transformative milestone for Prenetics, enabling us to enhance life's quality through cutting-edge scientific innovations. From prevention (CircleDNA) and early detection (Insighta) to treatment (ACT), our innovative approach promises to significantly raise the bar in healthcare."
Structure and Approvals
The transaction is subject to customary closing conditions, including applicable regulatory approvals. Prenetics expects to close the transaction in July 2023.
Advisors
UBS AG Hong Kong Branch is serving as exclusive financial advisor and Baker McKenzie is serving as legal advisor to Prenetics. Kwok Yih & Chan is serving as legal advisor to Prof. Lo.
About Insighta
Insighta, a landmark Joint Venture between Prenetics (NASDAQ: PRE), and renowned scientist, Prof. Dennis Lo, aims to revolutionize multi-cancer early detection. Backed by world-class science from Prof. Lo, robust capital resources of US$100m from Prenetics, and led by successful entrepreneur Danny Yeung, the joint venture is poised to transform cancer screening. Insighta plans to introduce Presight for lung and liver cancers in 2025, and to expand with Presight One for 10+ cancers in 2027. Insighta presents an unprecedented opportunity to save lives and bolster Hong Kong's standing as a global hub for life sciences innovation. To learn more about Insighta, please visit www.insighta.com
About Prenetics
Prenetics, a leading genomics-driven health sciences company, is revolutionizing prevention, early detection, and treatment. Our prevention arm, CircleDNA, uses whole exome sequencing to offer the world's most comprehensive consumer DNA test. Insighta, our US$200 million joint venture with renowned scientist Prof. Dennis Lo, underscores our unwavering commitment to saving lives through pioneering multi-cancer early detection technologies. Insighta plans to introduce Presight for lung and liver cancers in 2025, and to expand with Presight One for 10+ cancers in 2027. Lastly, ACT Genomics, our treatment unit, is the first Asia-based company to achieve FDA clearance for comprehensive genomic profiling of solid tumors via ACTOnco. Each of Prenetics' units synergistically enhances our global impact on health, truly embodying our commitment to "enhancing life through science". To learn more about Prenetics, please visit www.prenetics.com
(1) Internal Prenetics estimates based on population of 30m annual screens for early cancer detection in Asia
(2) https://www.nytimes.com/2022/09/28/health/lasker-award-medical-research.html
(3) https://www.annualreviews.org/doi/10.1146/annurev-genom-083118-015053
(4) https://www.pnas.org/doi/10.1073/pnas.2209852119
(5) https://www.who.int/news-room/fact-sheets/detail/cancer
(6) https://pubmed.ncbi.nlm.nih.gov/34870399/
(7) https://www.cancer.gov/about-cancer/causes-prevention/risk/age
Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's goals, targets, projections, outlooks, beliefs, expectations, strategy, plans, objectives of management for future operations of the Company, and growth opportunities are forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to", "poised to", "set to" or other similar expressions. Forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which involve inherent risks and uncertainties, therefore they should not be relied upon as being necessarily indicative of future results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: the Company's ability to further develop and grow its business, including new products and services; its ability to execute on its new business strategy in genomics, precision oncology, and specifically, early detection for cancer; its ability to identify and execute on M&A opportunities, especially in precision oncology; uncertainties inherent in the development of its cancer screening and detection tests, including the conduct of research activities, the initiation and completion of preclinical studies and clinical trials; uncertainties as to the availability and timing of results from preclinical studies and clinical trials; and the timing of and the Company's ability to submit and obtain regulatory approval for its cancer screening and detection tests. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described in the "Risk Factors" section of the Company's most recent registration statement on Form F-1 and the prospectus therein, and the other documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com
International Yoga Day Celebrations by Ojas Yoga and Wellness Align with “Health Happiness Harmony” Book Launch, Inspiring a Holistic Approach to Inner Transformation
Singapore, Jun 22, 2023 – (ACN Newswire) – In celebration of the highly anticipated International Yoga Day on June 21st' Ojas Yoga, a renowned holistic wellness and yoga practice hub, celebrated Yoga Day with transformative events and activities promoting health, harmony, and inner well-being. His Excellency.P Kumaran, High Commissioner of India, Singapore launched the book on 21st June 2023 on the auspicious day of International Yoga Day in Singapore at Sri Srinivasa Perumal Temple. A special master class was organized to celebrate and honor World Yoga Day in which around 200 people participated. The event aimed to promote the practice of yoga and its numerous benefits for physical and mental well-being. Participants had the opportunity to learn from esteemed yoga instructors, who guided them through various yoga techniques and shared their expertise.
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International Yoga Day, celebrated every year on the 21st of June, was established by the United Nations, is a global initiative that recognizes the profound benefits of yoga for individuals and communities alike. It serves as a reminder of the timeless wisdom and practice of yoga, which has been cherished for centuries and continues to inspire millions worldwide.
As a leading yoga teacher and passionate advocate for the power of yoga, Archana Amlapure, Founder of Ojas Yoga and Wellness, is committed to spreading the joy and benefits of yoga to individuals of all ages and backgrounds. With a mission to foster a healthier and more balanced society, Archana has been empowering people on yoga and its benefits across Asia. The studio is located in 359A, Joo Chiat Road, Singapore. She has been instrumental in conducting various Yoga lessons for students from India, US, Thailand and Malaysia.
"I am thrilled to celebrate International Yoga Day and share the profound benefits of yoga with our community," said Archana, the visionary behind Ojas Yoga and Wellness. "Yoga has the power to heal, restore, and unite people from all walks of life. Our events and programs aim to create a space where individuals can cultivate mindfulness, strengthen their bodies, and nourish their souls. It is time to discover the transformative power of yoga and embark on a journey towards a healthier, more balanced life."
The book "Health Happiness Harmony" embarks on a journey that delves into the depths of our inner being, guiding us towards self-discovery, healing, and profound growth. Yoga, with its ancient roots and timeless wisdom, has the power to unlock every individual's true potential and connect to a state of harmony and balance.
Archana, on launching her first book, quips, "As I reflect upon the significance of yoga in my own life, I am humbled by its ability to create a profound shift in our physical, mental, and spiritual well-being. It is a practice that transcends boundaries, cultures, and beliefs, embracing all who seek solace, strength, and serenity. Through the pages of this book, we all have the opportunity to embark on a shared exploration of this beautiful and transformative practice. May this book serve as a trusted companion on your personal odyssey of self-discovery, growth, and connection. May it inspire you to step onto your mat with renewed vigor and embrace the teachings of yoga with unwavering devotion."
It is time to embrace the practice of yoga as a lifelong journey and let it illuminate your path with its transformative light.
About Ojas Yoga and Wellness-
Ojas Yoga and Wellness is a premier yoga studio dedicated to empowering individuals through yoga and mindfulness. Led by Archana Amlapure, a highly trained and experienced yoga teacher, Ojas offers a variety of classes, workshops, and retreats designed to support physical, mental, and emotional well-being.
Website: https://ojasyog.com/
Contact:
Archana Amlapure
(+65) 8191 2862
Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com
EC Healthcare Received “Institutional Investor” 2023 Multiple Awards in All-Asia Executive Team Rankings
HONG KONG, Jun 21, 2023 – (ACN Newswire) – EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong*, is pleased to announce the excellent result in the "All-Asia Executive Team Rankings 2023" under the category of Healthcare, Pharma & Biotech organized by Institutional Investor, an international magazine.
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The Group is delighted recognize as The Most Honoured Company (Healthcare, Pharma & Biotech) in the division – Mid & Smallcap and Asia (excluding mainland China), which represents recognition of the Group's impressive performance by the investors and the market.
Recognized as an authoritative ranking by industries, "All-Asia Executive Team Rankings" celebrates the outstanding companies and management teams in Asia. Buy-side and sell-side analysts rated the listed companies within the scope of their research according to several criteria used in evaluating performance in corporate governance.
Category / Award
Core Asia Results:
Best CEO – Mr. Eddy Tang
Best CFO – Mr. Levin Lee
Best IR Team
Best IR Program
Best ESG
Best Board of Directors
Asia ex-Mainland China:
The Most Honoured Company
Best CEO – Mr. Eddy Tang
Best CFO – Mr. Levin Lee
Best IR Team
Best IR Program
Best ESG
Best Board of Directors
Best Investor Relations Professional – Ms. Hermione He / Ms. Ronnie Hou
Asia Small and Midcap:
The Most Honoured Company
Best CEO – Mr. Eddy Tang
Best CFO – Mr. Levin Lee
Best IR Team
Best IR Program
Best ESG
Best Board of Directors
Best Investor Relations Professional – Ms. Hermione He
Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of EC Healthcare said, "The Group is honored and grateful to receive these awards. We will continue to spare effort with the aim of further consolidating the leading position in the healthcare market and maximizing our shareholder value. The Group wishes to excel together with our much-valued stakeholders and stay proactive in continuously refining our strategies for the overall welfare of our company and the greater community."
About EC Healthcare
EC Healthcare is Hong Kong's largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group's high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism. The Group is a constituent stock of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index.
The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for years, a professional hair care center HAIR FOREST, primary care clinics jointly established with health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, General outpatient clinic Tencent Doctorwork, the largest one-stop pain management centre in Hong Kong New York Medical Group, the comprehensive dental centres Bayley & Jackson Dental Surgeons, EC DENTAL CARE and Health and Care Dental Clinic, an advanced diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic PREMIER MEDICAL CENTRE, SPECIALISTS CENTRAL and NEW MEDICAL CENTER, a paediatric centre PRIME CARE, a gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, PathLab Medical Laboratories, Ophthalmology Center EC EYE and EC Veterinary Hospital and Imaging Center.
*According to independent research conducted by Frost and Sullivan in terms of revenue in 2021 and 2022
For further information, please contact:
iPR Ogilvy Limited
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Tel: (852) 2136 6952 / 2169 0467 / 3920 7654
Fax: (852) 3170 6606
Email: ech@iprogilvy.com
Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com
ADICON Announces Proposed Listing on the Main Board of The Stock Exchange of Hong Kong at an Offer Price of HK$12.32 Per Share
HONG KONG, Jun 19, 2023 – (ACN Newswire) – ADICON Holdings Limited ("ADICON" or "Company", stock code: 9860.HK), the pioneer of independent clinical laboratory ("ICL") and one of the top three ICL service providers in China, today announced the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK").
Business Highlights
— ADICON is one of the top three independent clinical laboratory ("ICL") service providers in China in terms of total revenues during the three years ended December 31, 2020, 2021 and 2022(1), according to Frost & Sullivan. ADICON believes its success is underpinned by its industry-leading operations, strong R&D and quality-control capabilities, as well as an experienced senior and regional management team.
— ADICON provides comprehensive and best-in-class testing services, primarily to hospitals and health check centers through an integrated network of 33 self-operated laboratories across China.
— ADICON offers a competitive and comprehensive catalog of over 4,000 medical diagnostic tests, including over 1,700 routine tests and over 2,300 esoteric tests. ADICON's testing volume grew at a compound annual growth rate ("CAGR") of 65.6% from 60.1 million in 2020 to 164.9 million in 2022.
— As of June 9, 2023(2), ADICON operates a dedicated cold-chain logistics network covering more than 19,000 customers across 30 provinces and municipalities and over 1,600 cities and counties in China.
— As a market leader in the ICL industry, ADICON is well-positioned to benefit from the growing demand for testing services in China, driven by a series of favorable government policies and industry tailwinds.
— ADICON plans to use the proceeds to drive future growth by enhancing the breadth and depth of its ICL network; continuing to apply innovative technologies to develop new testing methods; further optimizing its laboratory processes and logistics through automation; and selectively pursuing strategic investments and alliances, and other emerging growth opportunities.
Highlights of the Global Offering
— ADICON plans to offer an aggregate of 33,192,500 Offer Shares under the Global Offering (subject to the Over-allotment Option), consisting of 29,872,500 International Offer Shares (subject to reallocation and the Over-allotment Option) and 3,320,000 Hong Kong Offer Shares (subject to reallocation), at a price of HK$12.32 per share.
— ADICON will start its public offering in Hong Kong at 9:00 a.m. on Monday, 19 June 2023, and end at 12:00 noon on Friday, 23 June 2023. Dealings in shares on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") are expected to commence on Friday, 30 June 2023, with the stock code of 9860.HK, in board lots of 500 shares each.
— Morgan Stanley Asia Limited and Jefferies Hong Kong Limited are the Joint Sponsors, Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers.
ADICON intends to offer an aggregate of 33,192,500 Offer Shares under the Global Offering (subject to the Over-allotment Option), consisting of 29,872,500 International Offer Shares (subject to reallocation and the Over-allotment Option) and 3,320,000 Hong Kong Offer Shares (subject to reallocation), at a price of HK$12.32 per share. The net proceeds from the Global Offering will amount to HK$480.9 million.
The Hong Kong Public Offering will begin at 9:00 a.m. on Monday, 19 June 2023, and end at 12:00 noon on Friday, 23 June 2023. Dealings in shares on the SEHK are expected to commence on Friday, 30 June 2023, with the stock code of 9860.HK, in board lots of 500 shares each.
ADICON has entered into cornerstone investment agreements with cornerstone investors including MR Global (HK) Limited (Mindray), Snibe Diagnostic (Hong Kong) Company Limited, Fosun Diagnostics (Shanghai) Co., Ltd., Timestar Elite Limited and Corelink, who have agreed to subscribe for such number of the Offer Shares which may be purchased at the Offer Price with an aggregate amount of approximately US$37 million (or approximately HK$290 million).
Mr. GAO Song, Executive Director and Chief Executive Officer of ADICON, stated: "We are committed to adhering to our mission of providing expert medical testing services to all as a market leader in the rapidly growing ICL industry in China. Advanced testing capabilities, innovation and best-in-class quality control standards remain at the core of what we do, and we look to utilize the IPO proceeds to further invest in advanced testing methods and applying innovative technology, as we work to continuously serve as a trusted and reliable partner for medical professionals and the general public."
Ms. YANG Ling, Chairwoman and Non-Executive Director of ADICON, and Managing Director at Carlyle Asia, commented: "We believe the ICL market in China is still in a nascent stage compared to that of other developed countries, and there remains significant room for the industry to grow. As one of the market leaders, ADICON is well-positioned to benefit from this, particularly with its expanding service offerings and strong execution capabilities."
Morgan Stanley Asia Limited and Jefferies Hong Kong Limited are the Joint Sponsors, Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers.
A Market Leader in the Rapidly Growing ICL Industry
Driven by a series of favorable government policies and industry tailwinds, China's ICL market size grew rapidly at a CAGR of 10.9% from RMB14.7 billion in 2017 to RMB22.3 billion in 2021 and is expected to further grow at a CAGR of 18.2% to RMB51.3 billion by 2026, according to Frost & Sullivan. As one of the top three ICL service providers in China, ADICON believes that it is well-positioned to benefit from the growing demand for testing services in China.
ADICON currently offers comprehensive and best-in-class testing services primarily to hospitals and health check centers through an integrated network of self-operated laboratories across China.
— As of the Latest Practicable Date, ADICON has built an extensive service network of 33 self-operated laboratories covering over 30 provinces and municipalities across China.
— ADICON also maintains an industry-leading comprehensive test menu with over 4,000 test items, including over 1,700 routine tests and over 2,300 esoteric tests, allowing the Company to provide testing services to over 19,000 customers by the end of 2022, ranging from medical institutions, health check centers, to biopharmaceutical companies and contract research organizations ("CROs").
— In the past three years, ADICON's testing volume increased by 33.9% from 60.1 million in 2020 to 80.5 million in 2021, and further increased by 104.8% to 164.9 million in 2022.
Aided by the changes implemented by Pearl Group Limited, ADICON's Controlling Shareholders, a company owned by funds which are ultimately controlled by global investment firm, Carlyle, since 2018, ADICON experienced rapid growth and strong financial performance during the Track Record Period. The total revenues grew at a CAGR of 33.1% from RMB2,741.7 million in 2020 to RMB4,860.6 million in 2022. The adjusted EBITDA (non-IFRS measure) grew at a CAGR of 34.0% from RMB567.6 million in 2020 to RMB1,019.8 million in 2022. The adjusted net profit (non-IFRS measure) grew at a CAGR of 30.1% from RMB367.0 million in 2020 to RMB621.1 million in 2022. (3)
ADICON's non-COVID-19 business has also maintained its growth momentum, with revenues totaling RMB1.817 million, RMB2.147 million, and RMB2.576 million in 2020, 2021 and 2022, respectively. With the lift of COVID-19 restrictions in China, demand for the base testing services rebounded, which boosted ADICON's non-COVID-19 revenue growth. Revenue contribution by non-COVID-19 testing business increased significantly from the three months ended March 31, 2022 to the same period in 2023.
Top-Tier and Experienced Management Team Solidified by Shareholder Support
ADICON has assembled a senior management team with in-depth industry insights and extensive experience in global and Chinese healthcare companies and a track record of success which was further bolstered by the addition of Pearl Group Limited, a company owned by investment funds which are ultimately controlled by Carlyle, as ADICON's Controlling Shareholder since October 2018.
The additional resources, expertise and professional management from Pearl Group Limited and other investors have enhanced ADICON's corporate compliance and reset its growth path. The Controlling Shareholders have also provided ADICON with substantial strategic insights and have helped it to strengthen its management capabilities, operational efficiency, business development capabilities, and corporate governance, and have led the Company in its rapid growth and robust track record results.
Comprehensive, High-Quality and Advanced Test Portfolio, Underpinned by Strong R&D and Quality Control Capabilities
ADICON's testing portfolio is at the core of its services: ADICON offers a competitive and comprehensive catalog of over 4,000 medical diagnostic tests as of December 31, 2022, spanning a variety of specialty groups, including among others, clinical immunologic testing, clinical chemistry testing, clinical molecular biology testing, and pathology testing. Its testing portfolio allows the Company to offer a broad spectrum of testing options that facilitate physicians' diagnostic and treatment decisions, and the Company can also customize its test menu to fulfil the specific testing demands from medical institutions, pharmaceutical companies, CROs and other customers.
The comprehensive testing offerings are supported by state-of-the-art laboratories equipped with advanced testing technologies, ranging from chemical analyzers, hematology analyzers, histopathology, flow cytometry, molecular pathology and mass spectrometry to next-generation sequencing (NGS) and digital polymerase chain reaction (dPCR) technologies. Its advanced testing technologies also allow ADICON to efficiently expand into various specialty areas and rapidly develop innovative testing offerings to cater to the evolving clinical needs.
Strong R&D capabilities are the backbone of ADICON's high-quality test offerings: As of the Latest Practicable Date, ADICON owned 228 registered patents, covering its major business focus areas, namely infectious diseases and blood diseases, as well as fields with large and unaddressed clinical demand such as personalized medication, single-gene genetic diseases and solid tumors. ADICON also proactively collaborates with reputable medical research institutions, universities and hospitals to develop new testing methods and technologies to further strengthen its testing capabilities. In addition, ADICON has a dedicated R&D team led by industry veterans who have over 10 years of industry experience and expertise.
Quality control underpins ADICON's abilities to constantly offer high-quality testing services to earn trust and loyalty from its customers: As of December 31, 2022, 18 of ADICON's laboratories were accredited by ISO15189, which enables the Company to provide customers with the assurance that comes with a rigorous global standard. ADICON has established a "headquarters – laboratory" two-level quality assurance system, with all facets of its services subject to stringent quality control standards and measures.
During the Track Record Period, ADICON received over 4,100 external quality assurance ("EQA") certificates. ADICON believes its quality assurance has positioned it strongly to broaden its customer base and capture an increasing market share.
Industry-Leading ICL Operational Capabilities
As an industry leading ICL service provider with a national footprint, ADICON has excellent operational capabilities.
— By the end of 2022, ADICON maintained a robust and nimble logistics network via ground, rail, and air, covering more than 19,000 customers across 30 provinces and municipalities and over 1,600 cities and counties in China. ADICON's logistics capacities ensure speedy transportation of samples and timely reporting of testing results. During the Track Record Period and up to the Latest Practicable Date, ADICON was able to achieve daily same-day delivery of up to 540,000 samples.
— ADICON's effective sales and marketing activities have also helped further fuel its business growth. ADICON has a highly trained and educated in-house sales and marketing team of over 1,500 personnel nationwide, as of December 31, 2022, who actively interact with medical institutions, physicians and key opinion leaders on a regular basis to introduce and promote ADICON's services.
— ADICON also has a specialized sales team of over 200 industry veterans who have extensive knowledge in the relevant specialty areas to promote its esoteric tests. ADICON regularly organizes, sponsors and participates in industry-leading academic conferences, seminars, and symposia to strengthen its brand awareness among medical professionals.
Strong Growth Trajectory Fueled by Expanding Service Offerings and Superior Execution
Network expansion: Supported by a replicable "headquarters – laboratory" two-level management scheme, ADICON has rapidly expanded its footprint nationwide. The number of its laboratories grew from 19 as of December 31, 2018, to 33 as of the Latest Practicable Date, allowing ADICON to serve over 11,000 customers in 2018 to over 19,000 customers in 2022 – ranging from medical institutions and health check centers to biopharmaceutical companies and CROs across 30 provinces and municipalities. Under this scheme, ADICON plans strategies and initiatives centrally and monitors the quality of local executions effectively. The headquarters establishes unified standardized operating procedures and policies which can be carried through and implemented across ADICON's laboratories nationwide, which allows it to open new laboratories and integrate acquired ones cost-effectively and efficiently.
Expanding service offerings: ADICON's test menu has expanded significantly from approximately 1,800 test items in 2018 to over 4,000 test items in 2022. In particular, ADICON's esoteric tests grew from over 650 in 2018 to over 2,300 in 2022. To expand its service offerings continuously, ADICON has entered into partnership agreements with the world's leading and internationally acclaimed companies in the life sciences industry, thus reinforcing its market leadership. In June 2022, the Company entered into a strategic partnership agreement with Guardant Health (Nasdaq: GH), a leading precision oncology company, pursuant to which, the Company is granted the exclusive rights to perform Guardant's industry-leading comprehensive genomic profiling (CGP) tests for researchers in China. ADICON is also the exclusive licensee to process Guardant's proprietary liquid and tissue biopsy assays in China. ADICON also entered into a master lab agreement with a leading global CRO in April 2021, to provide comprehensive, integrated drug development, laboratory and lifecycle management services, and testing services for its designated clinical research study or projects.
Broader customer range: After four years of rapid development, ADICON has significantly expanded its services to all types of medical institutions, health check centers, biopharmaceutical companies and CROs. In April 2019, ADICON started a collaboration with Meinian, a leading health examination and consulting service provider and provided testing services for its health check centers across the country, and soon established a strong presence in the health check market in China. By the end of 2022, ADICON has served a total of over 930 health check centers in China. By leveraging its strong testing capabilities, ADICON also offers testing services to globally and domestically reputable biopharmaceutical companies and CROs, assisting them in streamlining their drug development process and accelerating clinical trials.
Focus On Further Strengthening Its Testing Capabilities and Portfolio to Drive Future Growth
Looking ahead, ADICON plans to leverage the proceeds from this Global Offering to enhance the breadth and depth of its ICL network by strategically penetrating untapped markets; continue to develop new testing methods and apply innovative technologies; further optimize IT infrastructure as well as automate its laboratory processes and logistics; and selectively pursue strategic investments and alliances, and other emerging growth opportunities.
About ADICON Holdings Limited
ADICON Holdings Limited ("ADICON" or "Company", stock code: 9860.HK) is one of the top three independent clinical laboratory ("ICL") service providers in China, which offers comprehensive and best-in-class testing services primarily to hospitals and health check centers through an integrated network of 33 self-operated laboratories across China as of the Latest Practicable Date. Leveraging its strong R&D and quality control capabilities, ADICON offers comprehensive, high-quality and advanced test portfolios. As of December 31, 2022, ADICON offers a competitive and comprehensive catalog of over 4,000 medical diagnostic tests, including over 1,700 routine tests and over 2,300 esoteric tests, allowing ADICON to provide testing services to over 19,000 customers, ranging from medical institutions, health check centers, to biopharmaceutical companies and CROs. As a market leader in providing ICL services in China, ADICON is committed to continuously serving patients and the general public with its high-quality testing services, and becoming a trusted and reliable partner for medical professionals and the general public.
(1) Defined as the "Track Record Period".
(2) Defined as the "Latest Practicable Date".
(3) The use of such non-IFRS measures has limitations as an analytical tool, and they should not be considered in isolation from, or as substitute for analysis of, the results of operations or financial condition of the Company as reported under IFRS.
This press release is issued by Porda Havas International Finance Communications Group for and on behalf of ADICON Holdings Limited For further information, please contact:
Porda Havas International Finance Communications Group
Telephone: 852 3150 6788
Email: pearl.hk@pordahavas.com
Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com
JBM Healthcare Announces FY2023 Annual Results
HONG KONG, Jun 15, 2023 – (ACN Newswire) – JBM (Healthcare) Limited ("JBM Healthcare" or the "Company"; Stock Code: 2161, together with its subsidiaries, the "Group"), a leading branded healthcare products marketer and distributor in Hong Kong, today announced the annual results of the Group for the year ended 31 March 2023 ("FY2023" or the "Reporting Period").
KEY HIGHLIGHTS
— Year-on-year revenue up by 28.1% totalled HK$520.3 million
— Profit attributable to equity shareholders increased by 132%, amounting to HK$57.1 million
— Proprietary Chinese medicines business witnessed robust growth of 54.5%
— The Board recommends a final dividend of HK2.5 cents per share
— Cross-border e-commerce business gained tremendous traction alongside expanded product offerings and growing customer traffic
— Rosy growth prospect of the proprietary Chinese medicine business substantiated by increasing consumer acceptance and a broadened geographic reach
Amidst the steady recovery in Hong Kong's economy fueled by the gradual easing of COVID-19 restrictions, the Group witnessed a notable rise in overall sales, propelled by improving consumer sentiment. During the Reporting Period, the Group's total revenue was HK$520.3 million, reflecting a remarkable growth of 28.1%, driven primarily by the strong performance of proprietary Chinese medicines.
The Group's gross profit amounted to HK$205.5 million, an increase of 27.2%, while the consolidated profit attributable to equity shareholders amounted to HK$57.1 million, a significant increase of 132%. Such an increase was mainly attributable to the uplifted revenue of the Group's cross-border e-commerce business, alongside the strong performance of the proprietary Chinese medicine business.
The Board recommends a final dividend of HK2.5 cents per share. Including the interim dividend of HK0.5 cent per share already paid, the total dividend for FY2023 would be HK3.0 cents per share.
Market-Driven Portfolio Bolstered Resilient Performance
Despite the market challenges posed by COVID-19, JBM Healthcare's portfolio demonstrated resilience during the Reporting Period. Carrying a range of well-known brands spanning branded medicines, proprietary Chinese medicines and health supplements, the Group delivered consistent revenue growth, driven primarily by strong performance in proprietary Chinese medicines coupled with a promising cross-border e-commerce sales trend.
On the proprietary Chinese medicines business, sales revenue surged by 54.5% to HK$359.8 million, as the stabilisation of the pandemic led to a gradual recovery in retail sentiment and increased demand for Chinese medicine services. This growth was driven by the strong momentum of the Concentrated Chinese Medicine Granules ("CCMG") business, as well as the significant increase in sales of Po Chai Pills.
Cross-Border E-commerce Development Gained Traction
The Group's cross-border e-commerce business in the PRC has gained strong momentum, experiencing significant growth compared to the previous period.
The Group's two self-operated flagship stores on Tmall Global Marketplace and JD Worldwide made significant strides in expanding the market share and customer base during the Reporting Period. With the strong performance of the Group's leading brand product, Ho Chai Kung Tji Thung San, our flagship store achieved a top ranking on Tmall and secured the No.1 position in the "OTC-International" and "OTC-Pain Killer" categories during the Double 12 Event. Other popular brand products like Po Chai Pills also demonstrated promising growth in the Reporting Period.
The Group has also expanded its domestic e-platform, Go-Smart, allowing prospective customers in the PRC to gain access to making purchases on JBM Healthcare's health supplement products.
Capturing Growth Potential in Chinese Medicines
To facilitate the entry of Hong Kong traditional propriety Chinese medicines into the Greater Bay Area, the government of Guangdong Province has introduced streamlined measures to enable eligible proprietary Chinese medicines for external use to apply for registration with the Guangdong Provincial Medical Products Administration (GDMPA). Leveraging this favorable policy, the Group has successfully obtained registration approval for its medicated oil brands, Shiling Oil and Konsodona Medicated Oil, in the Greater Bay Area, anticipating the launch of the products in the market in the near term.
Acquisition to Enhance Portfolio and Platform
The Group recently completed the acquisition of a joint venture company specialising in developing and marketing health and wellness product brands. The joint venture company has established a robust distribution network for proprietary medicines and health and wellness products, including the development of supplement brands "SEASONS" and "Slimming Expert". With this acquisition, the Group aims to enhance its health and wellness portfolio and distribution platform, capitalising on the rising consumer healthcare market in the Greater Bay Area.
Mr. Patrick Wong, Chief Executive Officer of JBM Healthcare, said, "In FY2023, JBM Healthcare demonstrated resilience despite challenges from the fifth wave of the epidemic and external market pressures. Our strengths lie in our robust portfolio of well-known brands, alongside strong commercial execution and adaptability to market changes.
We are optimistic about the healthcare sector's future outlook. Our focus is on promoting operational excellence as we pursue growth strategies. These include expanding our e-commerce platforms, leveraging the potential of proprietary Chinese medicines in the Greater Bay Area, aligning our product portfolio with a strong commercial execution. By doing so, we aim to provide consumers with high-quality branded healthcare products that help them manage their health effectively, advancing our mission of Enabling Better Health Through Self-Care."
About JBM (Healthcare) Limited (Stock Code: 2161)
JBM Healthcare is a Hong Kong-based company that markets and distributes branded healthcare products across Greater China, Southeast Asia and certain other countries. The Group is a unique sector player with marketing expertise and a drug heritage that prioritises product efficacy and quality to meet consumers' healthcare needs. As a renowned healthcare brand operator in Hong Kong, the Group carries a wide-ranging portfolio of branded healthcare products comprising branded medicines, proprietary Chinese medicines and health and wellness products, which include well-recognised household brands such as Po Chai Pills, Ho Chai Kung Tji Thung San, Contractubex, BITE-X, Mederma for Kids, Tong Tai Chung Woodlok Oil, Flying Eagle Woodlok Oil, Saplingtan, Shiling Oil and Konsodona Medicated Oil. JBM Healthcare has been a constituent stock of the MSCI Hong Kong Micro Cap Index since 27 May 2021. For more details about JBM Healthcare, please visit: www.jbmhealthcare.com.hk
For media inquiries, please contact:
Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk
Rachel Ko Tel: (852) 2114 2370 Email: rachel.ko@sprg.com.hk
Katrina Hui Tel: (852) 2114 4318 Email: katrina.hui@sprg.com.hk
Fax: (852) 2527 1196
Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Penta Unveils Brighter Future Award 2023: Recognising Innovators and Visionaries Driving Positive Change
Penta announces the inaugural Brighter Future Award to honour maternal and child health champions
PADOVA, ITALY / ACNNEWSWIRE / June 15, 2023 / Penta, an international independent scientific network dedicated to maternal and child health research, is proud to unveil the Brighter Future Award (BFA), an annual global event designed to celebrate the remarkable efforts of individuals and organisations working tirelessly to improve health outcomes for children and pregnant individuals living with infectious diseases worldwide.
Penta Brighter Future Award
An illustration diverse group of children holding hands with the Fondazione Penta ETS logo
As we acknowledge the vital role of local champions in driving positive change, the BFA aims to recognise these outstanding change-makers and provide opportunities for scientists to connect with and learn from local communities at the forefront of maternal and child health.
“Our children are our future, and their well-being should be a shared responsibility that transcends scientific boundaries. Only by fostering collaboration, advocacy, and policy changes can we ensure that the scientific advancements translate into tangible improvements for every child, paving the way for a healthier, brighter tomorrow,” said Carlo Giaquinto, President of Fondazione Penta ETS and Professor of Paediatrics at the University of Padua, Italy.
Seven winners will be selected by an international jury of experts in their fields. The winners will each receive a €5,000 prize to support their ongoing work. Additionally, the BFA will provide all-expenses-paid trips for the winners to attend the 2024 Penta ID Network meeting in Italy. This prestigious event offers a platform for the winners to share their work with Penta researchers and join a network of like-minded professionals dedicated to child health.
The BFA comprises two categories:
- Penta’s Brighter Future Award: Six awards, one for each of the six global regions
- Penta’s Brighter Future Young Researcher Award: One award to a young researcher in the maternal and child health fields.
Nominations for the Penta BFA are open from June 15 to September 15, 2023. A distinguished panel of experts, including scientists, child health specialists and experts in youth participation in medical research from across the globe, will evaluate the nominations based on criteria such as innovation, sustainability, community engagement and social justice. Winners will be announced on December 1, 2023.
More about the BFA nomination process in this video: https://youtu.be/6bCvobzbExc
By recognising the outstanding efforts of those working to make a real difference in maternal and child health worldwide, we hope to inspire others to follow in their footsteps and work towards creating positive change in their own communities.
For more information about the Brighter Future Award and Penta, please visit https://penta-id.org/bfa.
Contact Information
Francesca Mazzetto
Penta Senior Communications Manager
francesca.mazzetto@pentafoundation.org
+393486151202
SOURCE: Fondazione Penta ETS
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OKRA.ai, an Envision Pharma Group Company, Appoints Dr. Yahya Anvar to Senior Leadership Position
PHILADELPHIA, PA / ACNNEWSWIRE / June 15, 2023 / OKRA.ai, an Envision Pharma Group (Envision) company, has appointed senior leader Dr. Yahya Anvar as Chief of AI Science & Insights to unleash the full potential of artificial intelligence (AI) and to further support the life sciences industry.
“I am excited about continuing the innovative collaboration between Envision and OKRA.ai along with Yahya as a senior leader as it further solidifies our Envision commitment to the expansion of OKRA.ai and leadership in the AI and technical space,” shares Meg Heim, CEO of Envision Pharma Group. “His leadership is critical to our vision to accelerate the delivery of our compelling combination of technology-enabled capabilities and solutions to clients as we continue to strengthen our offerings across the product life cycle, but more importantly to support patients in their journey to health and wellness.”
Anvar joined OKRA.ai in 2019, heading the Data Science team. During his tenure, he has led the development of AI solutions across OKRA.ai’s portfolio of products and services. Prior to joining the company, he served as the principal investigator of preclinical personalized medicine at Leiden University Medical Center. He has over 14 years of experience in the healthcare sector and is the author of over 30 peer-reviewed scientific articles. Anvar holds a PhD in Computational Biology from the faculty of Medicine at Leiden University, and an MSc in Bioinformatics and Artificial Intelligence from Brunel University.
Anvar shares, “It is an absolute privilege to be leading the AI insights and science at Envision and pushing the boundaries of what AI has to offer to better patients’ outcomes. Making an impact through solutions that provide actionable, explainable insights is what we thrive for. There is no better time for new beginnings than today, and I’m so excited to be working with the Envision team to transform the industry as we know it.”
Dr. Loubna Bouarfa, Head of AI & Innovative Platforms at Envision, shares, “It was a pleasure to work with Yahya; he has been an exceptional leader of the Data Science team at OKRA.ai. His role has now expanded to cover AI insights and scientific expertise across the entire Envision organization following our recent acquisition. I look forward to working with him in driving AI innovation and propelling Envision to new heights.”
About Envision Pharma Group
Founded in 2001, Envision Pharma Group is a leading global technology-enabled strategic solutions partner for the life sciences industry, working with over 200 pharma and biotech companies, including 18 of the top 20 pharmaceutical companies. Envision supports clients across the product life cycle through a comprehensive suite of services and industry-leading technology solutions that include artificial intelligence and natural language processing, commercialization and integrated strategic consulting, evidence-based scientific communications and engagement, HEOR/market access and data analytics, medical capabilities, and omnichannel solutions. Learn more at www.envisionpharmagroup.com.
Contact Information:
Colleen Carter
Associate Director, Communications, Office of CEO
colleen.carter@envisionpharma.com
1 (508) 505 8856
SOURCE: Envision Pharma Group
View source version on accesswire.com:
https://www.accesswire.com/761331/OKRAai-an-Envision-Pharma-Group-Company-Appoints-Dr-Yahya-Anvar-to-Senior-Leadership-Position
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