エーザイとFCNT、認知症との共生と予防に向けた業務提携契約を締結

TOKYO, Nov 30, 2021 - (JCN Newswire) - エーザイ株式会社(本社:東京都、代表執行役CEO:内藤晴夫、以下 エーザイ)とFCNT株式会社(本社:神奈川県、代表取締役社長:髙田克美、以下 FCNT)は、このたび、脳の健康に資するソリューション開発を通じた認知症との共生と予防に向けた業務提携契約を締結したことをお知らせします。両社は、エーザイの認知症領域における創薬活動や疾患啓発活動の豊富な経験知ならびにデジタルソリューション施策と、FCNTのシニア世代にとっての使いやすさを追求したスマートフォンおよびそのユーザーを中心としたSNS「らくらくコミュニティ」をはじめとしたサービスを融合して、認知症との共生と予防に取り組むエコシステム(以下、「認知症エコシステム」)を構築し、高齢化社会における認知症という社会課題の解決に貢献することをめざします。

両社は、本提携において、以下の取り組みの展開を予定しています。

1.「らくらくスマートフォン」への「のうKNOW(R)」の搭載

FCNTが開発、製造し、株式会社NTTドコモ(本社:東京都、以下NTTドコモ)より2022年2月以降に発売予定の「らくらくスマートフォン F-52B」に、エーザイが販売するブレインパフォーマンス(脳の健康度)セルフチェックツール「のうKNOW」(ノウノウ、非医療機器)をスマートフォンとして初めて搭載します。F-52Bのユーザーは、「のうKNOW」によるブレインパフォーマンスチェックを年4回まで無償でご利用いただけます。

2. 健康・疾病予防のためのソリューション開発

FCNTが有するユーザーの歩数・歩速・心拍数などのヘルスケア情報基盤や会員制のシニア向けSNSサービス「らくらくコミュニティ」(2021年8月時点会員数240万人、FCNT調べ)などを通じた会員サービス運営力に加え、エーザイが有する認知症領域の様々なデータに基づくノウハウを活かし、認知症予防に向けた健康課題の把握やリスク予測などに関わる利便性の高いソリューションを開発していきます。さらに、両社で開発した新しいソリューションは、自社のみならず、他産業・団体が持つ製品やサービスと組み合わせたソリューションパッケージとして企業や自治体等の法人向けに展開することをめざします。

エーザイとFCNTは、認知症という社会課題と向き合い、両社の強みを融合して認知症エコシステムの構築に貢献することを通じて、健康長寿社会の実現に向けた価値共創を推進してまいります。

本リリースの詳細は下記をご参照ください。
https://www.eisai.co.jp/news/2021/news202195.html

概要:エーザイ株式会社

詳細は www.eisai.co.jp をご覧ください。


Copyright 2021 JCN Newswire. All rights reserved. www.jcnnewswire.com Via JCN Newswire https://ift.tt/3tXPATt

エーザイ、第75回米国てんかん学会年次総会にてペランパネルおよびE2730に関する最新データを発表

TOKYO, Nov 30, 2021 - (JCN Newswire) - エーザイ株式会社(本社:東京都、代表執行役CEO:内藤晴夫)は、2021年12月3日から7日に米国イリノイ州シカゴおよびバーチャル形式で開催される「第75回米国てんかん学会年次総会(American Epilepsy Society Annual Meeting:AES2021)において、自社創製の抗てんかん剤ペランパネル(製品名「フィコンパ(R)」、英語製品名:「Fycompa(R)」)および、てんかんと神経疾患を治療標的とした自社創製新規低分子化合物E2730に関する最新データなど、合計42演題についてポスター発表することをお知らせします。

本総会では、ペランパネルについて、12歳以上74歳以下の部分発作を有する未治療てんかんの患者様を対象とした臨床第III相試験(FREEDOM/342試験)の非盲検継続投与(52週)における単剤療法の長期有効性と安全性の解析結果(ポスター番号:1.283)のほか、高齢てんかん患者様に対する、臨床第III相試験などの結果の概説(ポスター番号:2.218)およびリアルワールドの統合解析結果(ポスター番号:1.215)に関するポスター発表を行います。また、E2730について、非臨床試験の結果に関するポスター発表(ポスター番号:2.197)を予定しています。

ペランパネルは、当社筑波研究所で創製されたファースト・イン・クラスの抗てんかん剤です。本剤は、グルタミン酸によるシナプス後膜のAMPA受容体を選択的かつ非競合的に阻害し、神経の過興奮を抑制します。本剤は世界各国において、部分てんかんの併用療法に対して日本、米国、欧州、中国、アジアなど70 カ国以上で承認を取得しています。全般てんかんの強直間代発作の併用療法の適応についても、日本、米国、欧州、アジアなど 70 カ国以上で承認を取得しています。E2730は、当社筑波研究所で創製された、活性化状態にあるシナプス機能を選択的に調整する、新規選択的不競合GAT-1(GABA transporter 1)阻害剤です。てんかんに対する臨床試験を実施しています。

当社は、てんかんを含む神経領域を重点疾患領域と位置づけており、より多くの患者様に発作フリー(seizure freedom:無発作状態)をお届けする使命を追求し、てんかんの患者様とそのご家族の多様なニーズの充足とベネフィット向上により一層貢献してまいります。

本リリースの詳細は下記をご参照ください。
https://www.eisai.co.jp/news/2021/news202194.html

概要:エーザイ株式会社

詳細は www.eisai.co.jp をご覧ください。


Copyright 2021 JCN Newswire. All rights reserved. www.jcnnewswire.com Via JCN Newswire https://ift.tt/3tXPATt

コベルコ建機とNEC、建設機械の遠隔操作の普及に向けた技術開発協定を締結

TOKYO, Nov 30, 2021 - (JCN Newswire) - コベルコ建機株式会社(本社:東京都品川区、代表取締役 社長:尾上善則、以下、コベルコ建機)と日本電気株式会社(本社:東京都港区、代表取締役 執行役員社長 兼 CEO:森田隆之、以下、NEC)は、建設現場のより働きやすい作業環境の実現に向けて、現場作業の遠隔化・建設現場の自律化を目指し、建設機械の遠隔操作の普及に向けた技術開発協定を締結しました。

コベルコ建機が推進する「働く人を中心とした、建設現場のテレワークシステム」K-DIVE CONCEPT(注1)とNECが提供する「重機遠隔操縦サービス」(注2)を相互連携することにより、最新鋭の遠隔操作システムと高度な無線ネットワーク技術が融合し、より高度で安定した建設機械の遠隔操作の実現が可能となります。

コベルコ建機は、「誰でも働ける現場へ KOBELCO IoT」をテーマにICTロードマップを策定し、その実現に向けて中長期的に研究・開発を進めています。そのひとつの柱であるK-DIVE CONCEPTは、建設機械の遠隔操作とクラウドマッチングシステムを融合させることで、特定の人・場所・時間などの制約を受けずに、建設現場での施工が可能となる「建設現場のテレワーク化」を目指しています。この実現により、深刻化する建設技能者の不足に対する多様な人材活用、現場生産性の向上、現場無人化による本質的な安全確保などが可能になると考えています。

NECは、建設機械の操縦者が長時間にわたって安定した遠隔操作を行うことができる「重機遠隔操縦サービス」を提供しています。本サービスは、適応遠隔制御技術(注3)によって、建設機械の遠隔操作において最も重要となる無線環境下での安定的な映像配信とスムーズな遠隔操作を可能にします。NECは「誰もが快適に働ける現場」の実現に向けて「重機遠隔操縦サービス」のみならず、NECのAIや通信の技術などと他社のサービスや技術とのさらなる連携も進めていきます。

両社は、本協定に基づく取り組みの第一弾として、コベルコ建機五日市工場(広島)に設置したK-DIVE CONCEPTのコックピットとNEC我孫子事業場(千葉)の実証フィールドにある油圧ショベルを、NECの「重機遠隔操縦サービス」を用いて接続し、安定した映像配信とスムーズな作業操作が可能か検証する実証実験を実施しました。

結果として、両社のシステムを連携した場合でも、お互いのシステムの性能(通信状況、作業性等)を損なうことなく遠隔操作が可能であることを実証できたとともに、より多くのお客様に遠隔操作が可能な環境の提供に向けて大きく前進しました。

コベルコ建機とNECは今後も、建設機械の遠隔操作の普及に向け、お客様にとってより使いやすく、利用価値の高い製品の開発に向けて相互に協力していきます。

本リリースの詳細は下記をご参照ください。
https://jpn.nec.com/press/202111/20211130_02.html

概要:日本電気株式会社(NEC)

詳細は www.nec.co.jp をご覧ください。


Copyright 2021 JCN Newswire. All rights reserved. www.jcnnewswire.com Via JCN Newswire https://ift.tt/3tXPATt

EC Healthcare Acquires Hong Kong Dental Services Chain

HONG KONG, Nov 30, 2021 - (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 that the Group enters into an agreement to acquire 55% of the issued share capital of Bayley & Jackson Dental Surgeons Limited (the "Target Company"), for a total consideration of approximately HK$129 million, which shall be satisfied as to approximately HK$ 119 million in cash and as to approximately HK$10 million by the allotment and issue of Consideration Shares at HK$ 12.557 per share.

The Target Company is a dental services chain operator with a long-standing history in Hong Kong providing dental services in Hong Kong since 1958. As of the date of this announcement, the Target Company operates seven dental clinics located in Central, Tsim Sha Tsui, Mong Kok, Repulse Bay and Clean Water Bay of Hong Kong with 32 practicing dentists including dental general practitioners and specialists. According to the unaudited financial information for the year ended 31 March 2021, the profit after tax of the Target Company amounted to HK$15.18 million. Upon completion of the acquisition, the financial result of the Target Company will be consolidated into the consolidated financial statement of the Group. The Target Company guarantees to the Group with an aggregate net profit for the seven financial years ending 31 March 2029 should be no less than HK$120 million.

The Target Company has long-standing history, unique and well recognized brand and owns an extensive loyal corporate client base serving companies such as The Hong Kong Polytechnic University, Cathay Pacific Airways Limited and MTR Corporation Limited. Leveraging on its operational excellence and efficiencies, the Group will benefit from the Target Company's brand equity and continue to empower the Group's existing dental-related medical assets, improve the overall efficiency of the Group's dental medical assets and enhance the service capability as a multi-specialty medical service provider, thus further enhancing the customer retention rate and the overall profitability of the Group.

Mr. Levin Lee, Executive Director and Chief Finance Officer of EC Healthcare said, "This acquisition will help expand the Group's existing dental business, deepen and enhance the service capability of the Group's medical services segment, thereby further strengthening its leadership in the discretionary medical market. Looking ahead, the Group will be well-positioned to continue exploiting the reciprocal business interaction between dental and medical aesthetic businesses to create more value. Meanwhile, the Group will complement with advancement in information technology, branding, and service to build the enclosed healthcare ecosystem and to further consolidate the healthcare market."

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 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, primary care clinics jointly established with Tencent Doctorwork, chiropractic services centre SPINE Central, New York Spine and Physiotherapy Center NYMG, health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, a comprehensive dental centre UMH DENTAL CARE, a diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic SPECIALISTS CENTRAL and NEW MEDICAL CENTER, obstetrics and gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, specialists central, a paediatric center PRIME CARE, cardiology center HONG KONG INTERNATIONAL CARDIOLOGY CENTER, PathLab Medical Laboratories, a professional hair care center HAIR FOREST, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.

*According to independent research conducted by Frost and Sullivan in terms of revenue in 2019 and 2020

For further information, please contact:
iPR Ogilvy Limited
Callis Lau / Lorraine Luk / Charmaine Ip
Tel: (852) 2136 6952 / 2169 0467 / 3920 7649
Fax: (852) 3170 6606
Email: ech@iprogilvy.com



Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com

source https://www.acnnewswire.com/press-release/english/71448/

EC Healthcare Announces FY2021/22 Interim Results

HONG KONG, Nov 30, 2021 - (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, announces today its unaudited interim results for the six months ended 30 September 2021 (the "Period").

Business Highlight
-- Total revenue jumped 81.1% to HK$ 1.44 billion
-- Achieved a record-high sales volume of HK$1.53 billion, up 61.8%
-- Earnings before interest, taxes, depreciation, and amortization ("EBITDA") significantly increased by 181.3% to HK$323 million
-- Profit after tax surged 267.8% to HK$196 million, basic earnings per share were 14.2 HK cents
-- Revenue from medical services surged 109.9% to HK$758 million, with its contributions to total revenue rose to 52.5%
-- The board of directors (the "Board") proposed interim cash dividend of 10.2 HK cents per share
-- The Group entered the veterinary market through acquisition of a veterinary business, thus broadening its medical services spectrum
-- As of 30 September 2021, the Group's aggregate floor area of clinics and service centres increased by 41% to 449,000 sq.ft
-- As of 30 September 2021, the Group's full-time and exclusive Registered Practitioners across Hong Kong, the Mainland China and Macau increased to 176, with more than 1,400 network doctors

During the Period, although the border lockdown caused a sharp decline in the number of medical tourists in Hong Kong, EC Healthcare still benefited from the strong demand on medical services, improving local consumption sentiment and the full-fledged recovery in the retail sector, and thus recorded a year-on-year ("y-o-y") increase of 81.1% in the total revenue to HK$1.44 billion. Overall sales volume increased by 61.8% y-o-y to HK$1.53 billion for the Period. Also, the Group benefited from the positive effect from its acquisition of certain medical assets which drove the Group's revenue from medical services to surge by 109.9% y-o-y to HK$758 million and the contributions of medical services to the total revenue rose by 7.2 percentage points to 52.5%. In Mainland China, the authorities have been tightening the regulation of the medical aesthetic market. Leveraging its leading position and brand strength in the medical aesthetic market, the Group speeded up consolidating the market and further reinforced its leading market position. During the Period, the Group's revenue from the Mainland China increased by 35.3% y-o-y to HK$79.7 million.

Under the leadership of management with strong execution capabilities, the Group continued to enhance its operational efficiency. The Group's EBITDA (earnings before interests, taxation, depreciation-owned property, plant and equipment and amortization) increased by 181.3% y-o-y to HK$323 million. During the Period, the Group further enriched its enclosed ecosystem via acquisitions, the Group's profit after tax surged by 267.8% y-o-y to HK$196 million. Basic earnings per share were 14.2 HK cents. The board of directors proposed an interim cash dividend of 10.2 HK cents per share.

Developing Businesses through Organic Growth and M&A, Further Expanding Market Share
The Group always adheres to the strategy of developing its business through organic growth as well as mergers and acquisitions, continues to optimize its business portfolio and geographical business presence and to scale up its medical business so as to satisfy the growing demand for the medical and healthcare services. During the Period, about 80% of the Group's HK$1.44 billion revenue was derived from organic growth and the remaining about 20% was from new M&A during the reporting period. The revenue generated by the acquired businesses as a percentage of the Group's total revenue increased significantly compared with that in the same period last year. As of 30 September 2021, the Group operated 91 clinics and service centres, including 15 clinics in the Mainland China. The aggregate floor area of clinics and service centres increased by approximately 41% to 449,000 sq. ft. The Group had 176 full-time and exclusive Registered Practitioners across Hong Kong, the Mainland China and Macau, spanning 23 medical disciplines. During the Period, the Group achieved outstanding performance in its medical business, the revenue derived from the business segments of specialties, health management/laboratory, pain and wellness as well as advanced imaging increased by approximately 179%, 271%, 46% and 56% y-o-y respectively.

Meanwhile, the Group continued to develop new medical services and broaden its medical services spectrum through mergers and acquisitions. During the Period, the Group acquired two veterinary chains to enter the pet service market with a huge potential. The Group currently has seven veterinary hospitals and two veterinary advanced imaging centres with 29 full-time registered veterinary surgeons. The Group has been optimizing its portfolio of acquired businesses and enhancing its brand. Leveraging its efficient corporatization capability and excellent operating capability, coupled with its strong brand influence, quality services and IT platform, the Group continues to empower inefficient and dispersed medical assets to improve efficiency, further building up an enclosed healthcare ecosystem to provide premium services to the clients. Since its listing on Hong Kong's stock market, the Group has been performing well in its development through organic growth and mergers and acquisitions. During the financial years of 2016 to 2021, the Group recorded a CAGR of 13.9% in its organic growth and a CAGR of 96.6% through mergers and acquisitions. The Group expects to maintain similar level of CAGR rate to achieve HK$ 6 billion sales volume target.

Latest Business Developments after the Reporting Period
After the interim reporting period, the Group has announced the acquisition of two new medical businesses, which will further expand the market share of the Group's medical business and extend the scope of the Group's medical services and their business presence.

On 8 November 2021, the Group announced to acquire 70% of the issued share capital of Hong Kong specialty medical services centers for a total consideration of HK$100 million in cash. Upon completion of the acquisition, the Group will have 6 additional medical specialist disciplines, including (i) Anaesthesiology, (ii) Endocrinology, Diabetes & Metabolism, (iii) Haematology & Haematological Oncology, (iv) Paediatric Respiratory Medicine, (v) Reproductive Medicine and (vi) Respiratory Medicine, as well as five additional medical centers and over 30 full-time and registered practitioners in Hong Kong.

On 29 November 2021, the Group announced to acquire 55% of the issued share capital of a dental clinic chain for a total consideration of HK$129 million. Upon completion of the acquisition, the Group will have seven additional dental clinics and 32 additional practicing dentists in Hong Kong.

Upon completion of these two acquisitions, the Group's full-time and exclusive Registered Practitioners across Hong Kong, the Mainland China and Macau will increase to over 230.

Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of EC Healthcare said, "Looking ahead, the Group is optimistic about its business performance. Given stabilizing pandemic situation in Hong Kong, we expect a stronger rebound in consumption with the imminent resumption of cross-border travel between Hong Kong and the Mainland China. EC Healthcare enjoys an advantage of its long-established and influential brand and has always been the top choice of medical tourists in Hong Kong. The medical tourists had accounted for 20% of our sales before the border lockdown, reflecting the market's recognition of our quality service. With increasing operational efficiency and further enriching enclosed ecosystem, EC Healthcare is confident that it will be able to effectively tap the huge demand for both medical aesthetic and medical services in both the Mainland China and Hong Kong and thus to achieve even better results. The Group will continue to develop its businesses through organic growth and mergers and acquisitions, further build up the enclosed ecosystem, and improve the operation efficiency to consolidate the healthcare market. The Group is confident about achieving the revenue target of HK$6 billion by 2025."

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 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, primary care clinics jointly established with Tencent Doctorwork, chiropractic services centre SPINE Central, New York Spine and Physiotherapy Center NYMG, health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, a comprehensive dental centre UMH DENTAL CARE, a diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic SPECIALISTS CENTRAL and NEW MEDICAL CENTER, obstetrics and gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, specialists central, a paediatric center PRIME CARE, cardiology center HONG KONG INTERNATIONAL CARDIOLOGY CENTER, PathLab Medical Laboratories, a professional hair care center HAIR FOREST, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.

*According to independent research conducted by Frost and Sullivan in terms of revenue in 2019 and 2020

For further information, please contact:
iPR Ogilvy Limited
Callis Lau / Lorraine Luk / Charmaine Ip
Tel: (852) 2136 6952 / 2169 0467 / 3920 7649
Fax: (852) 3170 6606
Email: ech@iprogilvy.com



Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com

source https://www.acnnewswire.com/press-release/english/71445/

DefiHorse Partnership with Exnetwork Capital Announcement

Mahe, Seychelles, Nov 29, 2021 - (JCN Newswire) - DefiHorse proudly announces the partnership with Exnetwork Capital as the strong backer and investor. This is the significant partnership that makes the project even more remarkable with the vision to make a revolution with a new concept Tap-To-Earn (T2E). With the rapid expansion of the decentralized finance (DeFi) industry has begun a new era of integrating nonfungible tokens (NFT), gaming, and farming principles in the form of play-to-earn (P2E) games. P2E games only began to develop actively this year, but there are already numerous alternatives for gameplay and storyline in P2E games.



DefiHorse believe that our partnership with Exnetwork Capital, a multi-faceted, hyper-connected organization that has a strong history of incubating, advising blockchain projects, will be long term and fruitful partnership. We are also amazed with the passion of Exnetwork Capital team about DefiHorse project which they not only invest but also incredibly support.

DefiHorse wants to lead the NFT metaverse horse game

DefiHorse is a horse racing Metaverse e-sports game built on Blockchain technology and NFTs. Players will be able to experience and enjoy horse racing on a whole new level when they enter DefiHorse. The game provides you with majestic legendary War Horses that you use to compete in infinite Cyberpunk horse races.

The TAP TO EARN system of DefiHorse allows users to directly interact with the game, improving the character's experience. During the race, in addition to equipping items and breeding horses, players can interact with reality to help their steed outperform other competitors. There are also additional aspects in the game, such as the Horseverse, which lets users acquire land, buy stables, or choose and arrange their own horse races. Because this is a unique system that only DefiHorse has, this game is projected to become the next big thing in the world of NFT horse racing games.

About Exnetwork Capital

Exnetwork Capital is an investment firm focused on funding innovation in the decentralization movement. A hybrid fund, social network of investors and an incubator, Exnetwork Capital has been a key ingredient in the success of numerous projects launched since 2018.

Social Links:
Telegram Global Community: https://t.me/DefiHorse_community
Telegram News: https://t.me/DefiHorse_news
Twitter: https://twitter.com/Defi_Horse
Discord: https://discord.com/invite/DefiHorse
Facebook: https://www.facebook.com/DefiHorse/
Twitch: https://www.twitch.tv/DefiHorse
Tiktok: https://www.tiktok.com/@DefiHorse
Youtube: https://www.youtube.com/channel/UCj1S7KQDbPjcQdYHwIjCAfg

Media Contact
Lily, CMO, DefiHorse
Email: hello@DeFiHorse.com
Website: https://DeFiHorse.com




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Soluna Launches Curtailment Assessment Service for Clean Power Producers

NEW YORK, NY, Nov 29, 2021 - (JCN Newswire) - Soluna Holdings, Inc. (Nasdaq: SLNH) (formerly Mechanical Technology), a developer of green data centers for cryptocurrency mining and other intensive computing, announced today that it is now offering a custom estimating service for clean energy power plant owners and developers looking to reduce costly curtailment problems. The custom Curtailment Assessment is an NDA-protected review of proprietary, project-level data to estimate both lost and recoverable revenue with the addition of flexible offtake of curtailed power by Soluna's modular data centers (MDC).

"We started as a wind developer, so we know that curtailment can steal up to 30 percent of an asset owner's power generation/profit potential," said Soluna Computing CEO John Belizaire. "That's been accepted as a given. We say it's now an avoidable cost, and we're out to show asset owners that they don't have to watch their margins drain away."

Curtailment occurs when clean electricity providers, such as solar and wind farms, cannot sell all their power to a congested or over-supplied grid or must sell it at a loss. Curtailment costs power plant owners up to $2 million per year due to a failure to deliver on contracted power purchase agreements (PPAs), the loss of Production Tax Credits (PTC), and Renewable Energy Certificates (RECs).

Soluna's Curtailment Assessment is a groundbreaking, proprietary service that analyzes a producer's historical data to determine how much additional revenue owners can see by incorporating flexible energy demand on-site from the company's modular data centers.

Curtailment Assessment Process

Power partners who are interested in receiving a custom assessment can submit data to Soluna for analysis under NDA. Once received, Soluna's team analyzes the data, develops the custom Curtailment Assessment and a plan to solve the profit bleed. This plan will include a detailed look at the project's total output, curtailed energy, seasonality and the financial impact of curtailment.

Soluna's Curtailment Assessment develops options for boosting revenue, including various sized modular data centers that range from 50 MW to 150MW. The data centers are developed behind the meter to add flexible demand that converts curtailed energy into additional revenue. Soluna can develop and build a modular data center within six months.

Renewable Energy Project Owners, Developers, and Asset Managers can schedule a call to initiate their custom Curtailment Assessment here. https://www.solunacomputing.com/curtailment/

"We want to make renewable energy a global superpower, and we will do that by offering our computing centers as an immediately available, cost-effective alternative to battery storage for utility-scale renewable energy plants," continued John Belizaire.

Having batchable computing capability such as cryptocurrency mining on-site can increase the revenue of a renewable energy project up to 20% to 30%. These on-site scalable data centers consume every excess megawatt that the solar panels or wind turbines aren't able to sell.

About Soluna Holdings, Inc. (formerly Mechanical Technology)

Soluna Holdings, Inc. (Nasdaq: SLNH) (formerly Mechanical Technology) is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna Holdings formed when Mechanical Technology, Inc. (MTI) acquired Soluna Computing in 2021. Soluna's MTI Instruments division manufactures precision tools and testing equipment for electronics, aviation, automotive, power and other industries. Both Soluna and MTI Instruments use technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna's data centers enable clean electricity asset owners to 'Sell. Every. Megawatt.'

For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.

Forward-Looking Statement

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

Media Contact: Melissa Baldwin, Melissa@Tigercomm.us, 727-743-3778
Investor Relations Contact: Kirin Smith, ksmith@pcgadvisory.com, 646-823-8656


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DefiHorse Partnership with Exnetwork Capital Announcement

Mahe, Seychelles, Nov 29, 2021 - (ACN Newswire) - DefiHorse proudly announces the partnership with Exnetwork Capital as the strong backer and investor. This is the significant partnership that makes the project even more remarkable with the vision to make a revolution with a new concept Tap-To-Earn (T2E). With the rapid expansion of the decentralized finance (DeFi) industry has begun a new era of integrating nonfungible tokens (NFT), gaming, and farming principles in the form of play-to-earn (P2E) games. P2E games only began to develop actively this year, but there are already numerous alternatives for gameplay and storyline in P2E games.



DefiHorse believe that our partnership with Exnetwork Capital, a multi-faceted, hyper-connected organization that has a strong history of incubating, advising blockchain projects, will be long term and fruitful partnership. We are also amazed with the passion of Exnetwork Capital team about DefiHorse project which they not only invest but also incredibly support.

DefiHorse wants to lead the NFT metaverse horse game

DefiHorse is a horse racing Metaverse e-sports game built on Blockchain technology and NFTs. Players will be able to experience and enjoy horse racing on a whole new level when they enter DefiHorse. The game provides you with majestic legendary War Horses that you use to compete in infinite Cyberpunk horse races.

The TAP TO EARN system of DefiHorse allows users to directly interact with the game, improving the character's experience. During the race, in addition to equipping items and breeding horses, players can interact with reality to help their steed outperform other competitors. There are also additional aspects in the game, such as the Horseverse, which lets users acquire land, buy stables, or choose and arrange their own horse races. Because this is a unique system that only DefiHorse has, this game is projected to become the next big thing in the world of NFT horse racing games.

About Exnetwork Capital

Exnetwork Capital is an investment firm focused on funding innovation in the decentralization movement. A hybrid fund, social network of investors and an incubator, Exnetwork Capital has been a key ingredient in the success of numerous projects launched since 2018.

Social Links:
Telegram Global Community: https://t.me/DefiHorse_community
Telegram News: https://t.me/DefiHorse_news
Twitter: https://twitter.com/Defi_Horse
Discord: https://discord.com/invite/DefiHorse
Facebook: https://www.facebook.com/DefiHorse/
Twitch: https://www.twitch.tv/DefiHorse
Tiktok: https://www.tiktok.com/@DefiHorse
Youtube: https://www.youtube.com/channel/UCj1S7KQDbPjcQdYHwIjCAfg

Media Contact
Lily, CMO, DefiHorse
Email: hello@DeFiHorse.com
Website: https://DeFiHorse.com



Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com

source https://www.acnnewswire.com/press-release/english/71429/

Leon Fuat Berhad Posts 470% Rise in Quarterly PAT

SHAH ALAM, Malaysia, Nov 29, 2021 - (JCN Newswire) - Leon Fuat Berhad (Leon Fuat), a manufacturer and trader of steel products, specialising in rolled long and flat products, is pleased to announce today that the Group recorded a 470.4% gain in profit after tax (PAT) to RM38.66 million for the third quarter ended 30 September 2021 (Q3FY2021) compared with RM6.78 million in the corresponding quarter of the preceding year (Q3FY2020).

For the quarter under review, the Company registered a 44.1% increase in revenue to RM236.11 million compared with RM163.82 million in Q3FY2020 while profit before tax (PBT) recorded a 447.0% gain to RM49.14 million compared with RM8.98 million in Q3FY2020.

On a segmental basis, revenue from trading of steel products increased by 65.7% to RM94.81 million while revenue from the processing of steel products increased by 32.6% to RM141.22 million. The trading segment's contribution to revenue stood at 40.2% in Q3FY2021 compared with 34.9% in Q3FY2020 while the processing segment's contribution to revenue stood at 59.8% compared with 65.0% in Q3FY2020.

For the nine months ended 30 September 2021 (9M2021), PAT grew 918.5% to RM106.89 million compared with RM10.50 million registered in the corresponding period of the preceding financial year (9M2020). PBT increased by 815.2% to RM134.24 million compared with RM14.67 million recorded in 9M2020 while revenue rose 61.9% to RM632.37 million compared with RM390.61 million recorded in 9M2020.

Calvin Ooi Shang How, Executive Director of Leon Fuat said, "Generally, our business was not severely affected by the movement restrictions in 9M2021 while higher overall revenue together with higher gross profit margins supported our financial performance. However, we note that while there is potential rebound in domestic economic activities that will lead to recovery in the coming quarter, we will manage the continuing risks from supply disruptions persistently amid a resurgence in COVID-19 infections in certain economies."

"We are taking proactive measures to ensure business continuity and sustainability given the volatile business landscape. These measures include keeping vigilant on steel price movements and related foreign currencies, taking proactive measures including negotiating forward contracts, where necessary, as well as prudent inventory management while continuously enhancing the operating capabilities and efficiencies to meet customers' requirements and keeping our operating costs at a manageable level."

About Leon Fuat

Leon Fuat Berhad ('Leon Fuat' or the 'Group') primarily in the business of trading, processing and/or manufacturing (collectively referred to as "processing") of steel products, specialising in rolled long and flat products.

The Group's trading activities consist of a wide portfolio of steel products, which includes flat products such as coils, plates, sheets, welded tubes, and pipes, welded rectangular and square sections, and long products such as bars, rods, shafts, sections, angles, channels and seamless tubes and pipes.

The Group's processing business is synergistic to the trading operations. As part of the Group's value-added activities, Leon Fuat undertakes processing activities in the form of cutting, leveling, shearing, profiling, bending, finishing and production of welded steel pipe and expanded metal.

As an established name, Leon Fuat has a strong portfolio of customers of more than 3,000 and have a long-standing relationship with customers.

For more information, please visit www.leonfuat.com.my.

Issued by: Swan Consultancy on behalf of Leon Fuat Berhad
Date: 29 November 2021

Please contact the below for more information:
Hakim Juraimi
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

Kahjin Gan
Tel: +60 16-555 5187
Email: kj.gan@swanconsultancy.biz


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Data Sports Group to Bring its European Data Powerhouse into the Nascent U.S. Sports Betting Market

LAS VEGAS, NV, Nov 29, 2021 - (JCN Newswire) - Data Sports Group (DSG), a Berlin-based leading international provider of sports data and content solutions, today announced its entry into the US Sports Betting market and appointed SCCG as its exclusive marketing partner with its roll-out at SBC America Sports Betting Summit on December 1 at the Meadowlands Expo Center in Secaucus, New Jersey.

Powering international sports betting sites like Dafabet, team sites in Bundesliga2 and sports media companies such as ESPN, DSG is poised to launch its industry leading B2B analytics and data platform into the US Market.

"We are thrilled to join forces with Stephen and SCCG management and to bring DSG's full portfolio and offering of data and technology solutions to the US sports betting market," said Sowbhagya 'Sow' Shetty, founder and President.

Added Stephen Crystal, CEO of SCCG, "Whether you're running a mobile sportsbook, content or affiliate site, content and data are critical to user engagement, especially outside of the Big 6 sports. DSG has built an offering that is a must for any operator or content producer."

DSG content and data catalog is impressive, servicing betting stats and data for over thirty, second and third tier sports with a focus on Cricket, Rugby, Soccer, Esports and the Summer & Winter Olympics.

About Data Sports Group

Data Sports Group (DSG) is female led real time provider of data and sports content solutions. Founded in 2015, DSG has been providing reliable and accurate coverage of sporting events throughout Europe, Asia and South America. The services portfolio for the sports industry includes Sports Data Solutions for Betting and Fantasy; Content Acquisition for Media & Publisher Websites; Localized content and Predictive Analytics.

About SCCG Management

SCCG specializes in investment in and developing worldwide brands, representation before governmental agencies for complex regulatory matters, intellectual property, and strategic business development within international, land-based casinos, internet gambling, gaming, esports, and entertainment markets. https://www.sccgmanagement.com

Contact
Stephen A. Crystal
SCCG Management
+1 702-427-9354

Source: Plato Data Intelligence


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World FinTech Summit - KSA to Gather Top Global FinTech Leaders to Discuss the Future of Payments

Saudi Arabia, Nov 29, 2021 - (JCN Newswire) - The inaugural edition of the World FinTech Summit aims to gather, discover and explore the in-trend discussions that will drive Saudi's FinTech initiatives in ways unparalleled to others across the world. Taking place on 6 December 2021, the summit will gather elite FinTech leaders, solution providers, FinTech experts and investors from across the world to share their innovative, cutting edge solutions and services with a wide range of participants from the Kingdom of Saudi Arabia.

Why the Kingdom of Saudi Arabia?

Technological advancements, improvements in financial products, competition in financial services, and regulatory backing are all fueling a new wave of FinTech companies, start-ups, and investments that have caught the interest of the public.

FinTech and associated technologies have been used extensively in the country recently. Indeed, Vision 2030 has pushed for a more diverse and effective financial sector to support the country's economic growth, which has resulted in the creation of the Financial Sector Development (FSD) programme, which has accelerated FinTech adoption.

"Financial technology (FinTech) companies and large financial institutions (FIs) alike are looking to the Kingdom of Saudi Arabia to fuel their expansion. The World FinTech Summit is a one-of-a-kind event that will bring together top financial institutions and FinTech companies from throughout the globe to debate and explore the future of payments in Saudi Arabia," said Mithun Shetty, CEO of Trescon.

The World FinTech Summit - KSA will feature keynotes from thought-leaders and industry experts, private networking sessions, private video meetings and more.

The summit will be hosted on the virtual events platform Vmeets to help participants network and conduct business in an interactive and immersive virtual environment. Participants can also engage with speakers in Q&A sessions and network with solution providers in virtual exhibition booths, private consultation rooms and private networking rooms.

A ground-breaking collaboration of experts

World FinTech Summit will feature eminent experts such as Abdurahman Alhgreimil, Chairman of the Executive Committee, General Committee of Insurance and Reinsurance Brokerage; Hani Abu Damis, Executive Director, Head of FinTech, Interactive Smart Communications; Kemal Payza, Investment relations Director and top 10 FinTech Influencers in Middle-East, Turkey; and Badr Al-Arishi, Founding Partner and Head of the FinTech, Corporate, and Commercial departments, Knowledge Pioneers Law Firm KSA; to name a few.

#WorldFinTech Summit - KSA will cover current topics including how FinTech solutions are helping to rapidly reinvent the entire value chain of financial services in KSA; evaluating ideas on how FinTech solutions can help banks, financial institutions, and finance functions; Regulatory authorities working rigorously to provide opportunities for FinTech startups; Competition in financial services and regulatory support, driving a new wave of FinTech companies in KSA and more.

World FinTech Summit - KSA is officially sponsored by Silver Sponsor - Spotii.

About World FinTech Summit

World FinTech Summit is a thought-leadership-driven, business-focused, global series of events that takes place in strategic locations across the world. As part of the world tour, the inaugural edition in KSA is virtually gathering pre-qualified CFOs, CEOs, CTOs, Heads of Business Transformation, Chief Digital Officers, Heads of Innovation and International finance experts from the industry.

About Trescon:

Trescon is a global business events and consulting firm that provide a wide range of business services to a diversified client base that includes corporations, governments and individuals. Trescon is specialized in producing highly focused B2B events that connect businesses with opportunities through conferences, roadshows, expos, demand generation, investor connect and consulting services.

For more information visit: https://tresconglobal.com/conferences/FinTech /saudi

For further details about the announcement, please contact:
Karthik A, Asistant Marketing Manager,Trescon
marketing@tresconglobal.com


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Aurelius Technologies Berhad (ATech) Launches Prospectus for Main Market Listing

KUALA LUMPUR, Nov 29, 2021 - (JCN Newswire) - Aurelius Technologies Berhad ("ATech"), a provider of electronics manufacturing services (EMS) for industrial electronic products enroute to a listing on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities"; Stock Code: 5902), is pleased to announce the launch of the Company's prospectus for the initial public offering (IPO) today.

ATech offers a comprehensive range of EMS to multinational corporations across 11 countries covering Asia Pacific, Americas and Europe. These services include engineering support services, prototyping, board assembly, mechanical assembly and test for communications devices, Internet of Things (IoT) devices, electronic devices and semiconductor component modules used by the telecommunications, transportation, power management and IoT industries.

With a long track record of 28 years, ATech has built a business based on long-term client partnerships. All top five customers are foreign companies or subsidiaries of US public-listed companies.

The IPO involves up to 103.87 million ordinary shares comprising public issue of 77.01 million shares and an offer for sale of up to 26.86 million shares. The institutional offering of up to 80.96 million shares represents 22.60% of the enlarged issued shares. The retail offering of up to 22.91 million shares, representing 6.40% of the enlarged issued shares, will be offered at a retail price of RM1.36 per share.

The company is expected to raise RM104.73 million in proceeds from the IPO, of which RM40.0 million would be used to acquire new machinery and equipment, RM29.52 million for repayment of borrowings, RM28.13 million for working capital and RM7.08 million for listing expenses.

The shares will be made available for application in the following manner:

The institutional offering comprising:
1) 44.77 million IPO shares representing 12.50% of the enlarged issued shares to bumiputera investors approved by the Ministry of International Trade and Industry
2) Up to 36.19 million IPO shares representing approximately 10.10% of enlarged issued shares to Malaysian institutional and select investors

The retail offering comprising:
1) 5.0 million issue shares representing 1.40% of enlarged issued shares to directors, eligible employees and persons who have contributed to the Company
2) 17.91 million issue shares representing 5.0% of the enlarged issued shares allocated to the Malaysian public via balloting

Executive Director and Chief Executive Officer of ATech, Lee Chong Yeow, said, "Our IPO will enable us to speed up the execution of our plan to grow, strengthen and leverage our core competency of providing EMS for industrial electronics products as well as continuing our expansion into the production of IoT modules that we started offering in early 2020."

"We are also expanding our production facilities with the construction of a new factory adjacent to our existing plant in Kulim Hi-Tech Park. The new factory will enable us to add floor space to grow the semiconductor component modules production, to cater for Lithium-Ion battery pack production and our existing EMS operations. We will have a total of 15 SMT lines by the end of 2023 from both the new factory and additions to the current factory. These new SMT lines will increase our annual capacity by 198.7% for the financial year ending (FYE) 31 January 2024 from FYE21 to meet the expected increase in demand from our customers."

For FYE21, communications and IoT products contributed 89.5% to the Company's revenue, electronic devices contributed 9.4% and semiconductor components contributed less than 1%. The top three countries by revenue contribution for FYE19 to FYE21 were the USA, Malaysia and Singapore, which collectively accounted for 93.6%, 92.7%, and 89.3% of the total revenue.

Maybank Investment Bank Berhad, which is part of Maybank Kim Eng Group, is the Principal Adviser, Sole Bookrunner and Sole Underwriter.

Ami Moris, Chief Executive Officer, Maybank Kim Eng Group, said, "As a direct IoT proxy, ATech is well-positioned for sustainable, accelerated growth as the demand for IoT terminal connections is expected to hit 23.7 billion by 2026. Our conversations with investors indicate that ATech is one of the most anticipated small cap IPOs in Malaysia this year."

"We are also encouraged to see that ATech is actively reducing its carbon footprint to become a best-in-class green EMS player, and is prioritising local communities through upskilling and employment opportunities. We look forward to journeying with ATech as a trusted business partner."

Pictured (from left):
- Left: Datin Normaliza Binti Kairon, ATech's Chairperson and Independent Non-Executive Director
- Right Top: Mr. Lee Chong Yeow, ATech's Executive Director and Group Chief Executive Officer and Mr. Loh Hock Chiang, ATech's Executive Director and Group Chief Financial Officer
- Right, Second Row: ATech's Ms. F'ng Meow Chong, Independent Non-Executive Director and ATech's En. Nor Shahmir Bin Nor Shahid, Independent Non-Executive Director
- Right, Bottom Row: ATech's Mr. Yee Swee Meng, Independent Non-Executive Director and Maybank Kim Eng Group's Datin Ami Moris, Chief Executive Officer
(https://www.acnnewswire.com/topimg/Low_ATech20211129.jpg)


Copyright 2021 JCN Newswire. All rights reserved. www.jcnnewswire.com Via JCN Newswire https://ift.tt/3tXPATt

Soluna Launches Curtailment Assessment Service for Clean Power Producers

NEW YORK, NY, Nov 29, 2021 - (ACN Newswire) - Soluna Holdings, Inc. (Nasdaq: SLNH) (formerly Mechanical Technology), a developer of green data centers for cryptocurrency mining and other intensive computing, announced today that it is now offering a custom estimating service for clean energy power plant owners and developers looking to reduce costly curtailment problems. The custom Curtailment Assessment is an NDA-protected review of proprietary, project-level data to estimate both lost and recoverable revenue with the addition of flexible offtake of curtailed power by Soluna's modular data centers (MDC).


"We started as a wind developer, so we know that curtailment can steal up to 30 percent of an asset owner's power generation/profit potential," said Soluna Computing CEO John Belizaire. "That's been accepted as a given. We say it's now an avoidable cost, and we're out to show asset owners that they don't have to watch their margins drain away."

Curtailment occurs when clean electricity providers, such as solar and wind farms, cannot sell all their power to a congested or over-supplied grid or must sell it at a loss. Curtailment costs power plant owners up to $2 million per year due to a failure to deliver on contracted power purchase agreements (PPAs), the loss of Production Tax Credits (PTC), and Renewable Energy Certificates (RECs).

Soluna's Curtailment Assessment is a groundbreaking, proprietary service that analyzes a producer's historical data to determine how much additional revenue owners can see by incorporating flexible energy demand on-site from the company's modular data centers.

Curtailment Assessment Process

Power partners who are interested in receiving a custom assessment can submit data to Soluna for analysis under NDA. Once received, Soluna's team analyzes the data, develops the custom Curtailment Assessment and a plan to solve the profit bleed. This plan will include a detailed look at the project's total output, curtailed energy, seasonality and the financial impact of curtailment.

Soluna's Curtailment Assessment develops options for boosting revenue, including various sized modular data centers that range from 50 MW to 150MW. The data centers are developed behind the meter to add flexible demand that converts curtailed energy into additional revenue. Soluna can develop and build a modular data center within six months.

Renewable Energy Project Owners, Developers, and Asset Managers can schedule a call to initiate their custom Curtailment Assessment here. https://www.solunacomputing.com/curtailment/

"We want to make renewable energy a global superpower, and we will do that by offering our computing centers as an immediately available, cost-effective alternative to battery storage for utility-scale renewable energy plants," continued John Belizaire.

Having batchable computing capability such as cryptocurrency mining on-site can increase the revenue of a renewable energy project up to 20% to 30%. These on-site scalable data centers consume every excess megawatt that the solar panels or wind turbines aren't able to sell.

About Soluna Holdings, Inc. (formerly Mechanical Technology)

Soluna Holdings, Inc. (Nasdaq: SLNH) (formerly Mechanical Technology) is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna Holdings formed when Mechanical Technology, Inc. (MTI) acquired Soluna Computing in 2021. Soluna's MTI Instruments division manufactures precision tools and testing equipment for electronics, aviation, automotive, power and other industries. Both Soluna and MTI Instruments use technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna's data centers enable clean electricity asset owners to 'Sell. Every. Megawatt.'

For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.

Forward-Looking Statement

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

Media Contact: Melissa Baldwin, Melissa@Tigercomm.us, 727-743-3778
Investor Relations Contact: Kirin Smith, ksmith@pcgadvisory.com, 646-823-8656

Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com

source https://www.acnnewswire.com/press-release/english/71396/

Leon Fuat Berhad Posts 470% Rise in Quarterly PAT

SHAH ALAM, Malaysia, Nov 29, 2021 - (ACN Newswire) - Leon Fuat Berhad (Leon Fuat), a manufacturer and trader of steel products, specialising in rolled long and flat products, is pleased to announce today that the Group recorded a 470.4% gain in profit after tax (PAT) to RM38.66 million for the third quarter ended 30 September 2021 (Q3FY2021) compared with RM6.78 million in the corresponding quarter of the preceding year (Q3FY2020).

Calvin Ooi Shang How, Executive Director of Leon Fuat

For the quarter under review, the Company registered a 44.1% increase in revenue to RM236.11 million compared with RM163.82 million in Q3FY2020 while profit before tax (PBT) recorded a 447.0% gain to RM49.14 million compared with RM8.98 million in Q3FY2020.

On a segmental basis, revenue from trading of steel products increased by 65.7% to RM94.81 million while revenue from the processing of steel products increased by 32.6% to RM141.22 million. The trading segment's contribution to revenue stood at 40.2% in Q3FY2021 compared with 34.9% in Q3FY2020 while the processing segment's contribution to revenue stood at 59.8% compared with 65.0% in Q3FY2020.

For the nine months ended 30 September 2021 (9M2021), PAT grew 918.5% to RM106.89 million compared with RM10.50 million registered in the corresponding period of the preceding financial year (9M2020). PBT increased by 815.2% to RM134.24 million compared with RM14.67 million recorded in 9M2020 while revenue rose 61.9% to RM632.37 million compared with RM390.61 million recorded in 9M2020.

Calvin Ooi Shang How, Executive Director of Leon Fuat said, "Generally, our business was not severely affected by the movement restrictions in 9M2021 while higher overall revenue together with higher gross profit margins supported our financial performance. However, we note that while there is potential rebound in domestic economic activities that will lead to recovery in the coming quarter, we will manage the continuing risks from supply disruptions persistently amid a resurgence in COVID-19 infections in certain economies."

"We are taking proactive measures to ensure business continuity and sustainability given the volatile business landscape. These measures include keeping vigilant on steel price movements and related foreign currencies, taking proactive measures including negotiating forward contracts, where necessary, as well as prudent inventory management while continuously enhancing the operating capabilities and efficiencies to meet customers' requirements and keeping our operating costs at a manageable level."

About Leon Fuat

Leon Fuat Berhad ('Leon Fuat' or the 'Group') primarily in the business of trading, processing and/or manufacturing (collectively referred to as "processing") of steel products, specialising in rolled long and flat products.

The Group's trading activities consist of a wide portfolio of steel products, which includes flat products such as coils, plates, sheets, welded tubes, and pipes, welded rectangular and square sections, and long products such as bars, rods, shafts, sections, angles, channels and seamless tubes and pipes.

The Group's processing business is synergistic to the trading operations. As part of the Group's value-added activities, Leon Fuat undertakes processing activities in the form of cutting, leveling, shearing, profiling, bending, finishing and production of welded steel pipe and expanded metal.

As an established name, Leon Fuat has a strong portfolio of customers of more than 3,000 and have a long-standing relationship with customers.

For more information, please visit www.leonfuat.com.my.

Issued by: Swan Consultancy on behalf of Leon Fuat Berhad
Date: 29 November 2021

Please contact the below for more information:
Hakim Juraimi
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

Kahjin Gan
Tel: +60 16-555 5187
Email: kj.gan@swanconsultancy.biz

Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com

source https://www.acnnewswire.com/press-release/english/71430/

World FinTech Summit - KSA to Gather Top Global FinTech Leaders to Discuss the Future of Payments

Saudi Arabia, Nov 29, 2021 - (ACN Newswire) - The inaugural edition of the World FinTech Summit aims to gather, discover and explore the in-trend discussions that will drive Saudi's FinTech initiatives in ways unparalleled to others across the world. Taking place on 6 December 2021, the summit will gather elite FinTech leaders, solution providers, FinTech experts and investors from across the world to share their innovative, cutting edge solutions and services with a wide range of participants from the Kingdom of Saudi Arabia.


Why the Kingdom of Saudi Arabia?

Technological advancements, improvements in financial products, competition in financial services, and regulatory backing are all fueling a new wave of FinTech companies, start-ups, and investments that have caught the interest of the public.

FinTech and associated technologies have been used extensively in the country recently. Indeed, Vision 2030 has pushed for a more diverse and effective financial sector to support the country's economic growth, which has resulted in the creation of the Financial Sector Development (FSD) programme, which has accelerated FinTech adoption.

"Financial technology (FinTech) companies and large financial institutions (FIs) alike are looking to the Kingdom of Saudi Arabia to fuel their expansion. The World FinTech Summit is a one-of-a-kind event that will bring together top financial institutions and FinTech companies from throughout the globe to debate and explore the future of payments in Saudi Arabia," said Mithun Shetty, CEO of Trescon.

The World FinTech Summit - KSA will feature keynotes from thought-leaders and industry experts, private networking sessions, private video meetings and more.

The summit will be hosted on the virtual events platform Vmeets to help participants network and conduct business in an interactive and immersive virtual environment. Participants can also engage with speakers in Q&A sessions and network with solution providers in virtual exhibition booths, private consultation rooms and private networking rooms.

A ground-breaking collaboration of experts

World FinTech Summit will feature eminent experts such as Abdurahman Alhgreimil, Chairman of the Executive Committee, General Committee of Insurance and Reinsurance Brokerage; Hani Abu Damis, Executive Director, Head of FinTech, Interactive Smart Communications; Kemal Payza, Investment relations Director and top 10 FinTech Influencers in Middle-East, Turkey; and Badr Al-Arishi, Founding Partner and Head of the FinTech, Corporate, and Commercial departments, Knowledge Pioneers Law Firm KSA; to name a few.

#WorldFinTech Summit - KSA will cover current topics including how FinTech solutions are helping to rapidly reinvent the entire value chain of financial services in KSA; evaluating ideas on how FinTech solutions can help banks, financial institutions, and finance functions; Regulatory authorities working rigorously to provide opportunities for FinTech startups; Competition in financial services and regulatory support, driving a new wave of FinTech companies in KSA and more.

World FinTech Summit - KSA is officially sponsored by Silver Sponsor - Spotii.

About World FinTech Summit

World FinTech Summit is a thought-leadership-driven, business-focused, global series of events that takes place in strategic locations across the world. As part of the world tour, the inaugural edition in KSA is virtually gathering pre-qualified CFOs, CEOs, CTOs, Heads of Business Transformation, Chief Digital Officers, Heads of Innovation and International finance experts from the industry.

About Trescon:

Trescon is a global business events and consulting firm that provide a wide range of business services to a diversified client base that includes corporations, governments and individuals. Trescon is specialized in producing highly focused B2B events that connect businesses with opportunities through conferences, roadshows, expos, demand generation, investor connect and consulting services.

For more information visit: https://tresconglobal.com/conferences/FinTech /saudi

For further details about the announcement, please contact:
Karthik A, Asistant Marketing Manager,Trescon
marketing@tresconglobal.com

Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com

source https://www.acnnewswire.com/press-release/english/71428/

GBA companies eyeing ASEAN opportunities

HONG KONG, Nov 29, 2021 - (ACN Newswire) - Close to 60 per cent of companies in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) are considering further expansion into the Association of Southeast Asian Nations (ASEAN) countries in the next three years, a research report by UOB Hong Kong Branch and the Hong Kong Trade Development Council (HKTDC) indicates.

The Trade and Investment between GBA and ASEAN and the Roles of Hong Kong report also found GBA companies highly value Hong Kong's services[1] and expect the city's role as a business hub facilitating trade and investment between the two regions to grow in importance.

Among the 10 ASEAN countries, Singapore, Malaysia, Vietnam, Thailand and the Philippines, are the most popular trade and investment destinations. In the next three years, most of the GBA companies will choose Singapore (55.4 per cent), Malaysia (53.0 per cent) and Vietnam (51.1 per cent) as markets for sales, while Vietnam (14.5 per cent), Thailand (10.4 per cent) and Indonesia (8.1 per cent) are the preferred production or sourcing bases. Another 10.4 per cent of the GBA companies also preferred to set up their regional offices in Singapore.

The GBA companies surveyed said ASEAN countries' cost-effectiveness, abundant resources and huge markets are the key pull factors. Those in the industrial goods sector expressed the greatest interest (6.56 out of 10) in expanding their business further in ASEAN. This was followed by companies in real estate, hospitality and construction (6.21), as well as the business, professional and financial services sectors (5.71).

Mrs Christine Ip, CEO - Greater China of UOB, said, "Cross-border trade and investment flows between ASEAN countries and the GBA are driven by the two regions' increasing interconnectivity and collaboration in areas such as sustainable development. At UOB, we are committed to assisting companies in capturing overseas business opportunities through our deep sectoral expertise, strong local talents and our extensive footprint in Southeast Asia. Over the past 10 years, the UOB Foreign Direct Investment Advisory Unit has supported more than 3,500 companies in their cross-border investments, of which about one-third are Chinese companies."

Mr Nicholas Kwan, Director of Research, HKTDC, said, Hong Kong must further foster its interconnectivity with other GBA cities and ASEAN countries in order to boost its role in facilitating two-way trade and investment flows.

He said: "When the pandemic subsides and border controls relax, cross-border trade and investment will be more active. GBA companies must reconnect with overseas buyers and partners quickly. Being the trade fair capital and business hub in Asia, Hong Kong can help GBA companies fortify ties with their counterparts in ASEAN and promote trade between the two regions."

Hong Kong's role and services sector highly regarded

The research also showed that GBA companies value Hong Kong's role in the region's collaboration with ASEAN countries, giving the city an average score of 7.33 out of 10. Almost half (47.2 per cent) gave a score of eight to 10.

Respondents hope that within the GBA, Hong Kong can be a one-stop business centre (41.6 per cent), provide a simplified and harmonised tax system (38.7 per cent) and offer more diversified investment products and services (38.4 per cent).

In addition, respondents said MICE (meetings, incentives, conferences and exhibitions) (45.4 per cent), sales and marketing (41.4 per cent), logistics and supply chain management (39.0 per cent) as well as financial services (37.7 per cent) are the most frequently-used services in Hong Kong. Respondents are highly satisfied with the level of services and said they will use more of these services in the next three years.

For their overseas expansion into ASEAN countries, GBA companies look to Hong Kong to provide more comprehensive information, services and support (40.9 per cent). They also hope public bodies or regulatory institutions can do more in facilitating trade and investment flows with their ASEAN counterparts (39.4 per cent) and formulate policies to open up regional trade and investment further (39.1 per cent).

Mr Kwan said GBA companies highly appreciate Hong Kong's advantages in business environment, financial infrastructure and cross-border resource flow. "Most of them believe that the city's transparent regulatory system, extensive commercial network, diversified financial and banking services, coupled with free flow of goods and capital among GBA cities, and absence of foreign exchange and capital controls with ASEAN, make Hong Kong an ideal two-way platform to facilitate trade and investment between the GBA and ASEAN."

Mrs Ip said, "As an international financial centre with a strategic location within the GBA, Hong Kong can further enhance its role as an essential bridge for GBA companies when they expand into ASEAN countries. UOB's dedicated Greater Bay Area team in Hong Kong also plays our part in helping GBA companies understand and appreciate the diversity of the ASEAN markets to capture more regional business opportunities."

The Trade and Investment between GBA and ASEAN and the Role of Hong Kong report is based on a survey conducted by the HKTDC from July to September 2021 with 657 GBA-based companies from various sectors. These included consumer goods, industrial goods, business, professional and financial services, real estate, hospitality and construction, as well as technology, media and telecommunications. In-depth interviews were also conducted with some respondents to understand the opportunities and challenges they faced in their business expansion in ASEAN countries, as well as their views on Hong Kong's roles in promoting trade and investment between GBA and ASEAN. The full report in Chinese can be downloaded from the websites of UOB Hong Kong and HKTDC.

Media Enquiries

UOB Hong Kong
Strategic Communications, Brand and Customer Insights
Susanna Liu
Tel: +852 2123 7537 / 6291 8169
Email: susanna.liuwy@uobgroup.com

HKTDC
Communications and Public Affairs Department
Beatrice Lam
Tel: +852 2584 4049 / 9036 0212
Email: beatrice.hy.lam@hktdc.org

References
- HKTDC Research Portal: http://research.hktdc.com/tc
- Trade and Investment between GBA and ASEAN and the Roles of Hong Kong: https://bit.ly/3nQArU7
- Photo Download: https://bit.ly/3o1Hdqf

About UOB

United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of around 500 branches and offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. UOB is rated among the world's top banks: Aa1 by Moody's Investors Service and AA- by both S&P Global Ratings and Fitch Ratings. In Asia, UOB operates through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, as well as branches and representative offices across the region.

Over more than eight decades, generations of UOB employees have carried through the entrepreneurial spirit, the focus on long-term value creation and an unwavering commitment to do what is right for our customers and our colleagues.

We believe in being a responsible financial services provider and we are committed to making a difference in the lives of our stakeholders and in the communities in which we operate. Just as we are dedicated to helping our customers manage their finances wisely and to grow their businesses, UOB is steadfast in our support of social development, particularly in the areas of art, children and education.

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

[1] Hong Kong's services include banking and finance, legal, dispute resolution, IP-related services, MICE (meetings, incentives, conferencing and exhibitions) services, logistics and supply chain management, sales and marketing, as well as research and development.

Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com

source https://www.acnnewswire.com/press-release/english/71427/

Regina Miracle FY22 Interim Revenue Hits New High of HK$4.1 Billion with a Turnaround in Adjusted Net Profit of HK$275.6 Million Driven by Development of Multiple Segments through Innovation

HONG KONG, Nov 29, 2021 - (ACN Newswire) - Regina Miracle International (Holdings) Limited ("Regina Miracle" or the "Company", together with its subsidiaries, collectively the "Group") (HKEX: 2199), a leading global intimate wear company boasting an Innovative Design Manufacturer ("IDM") business model, has announced its unaudited interim results for the six months ended 30 September 2021 (the "Period").

During the Period, the Group's revenue reached historical high at approximately HK$4.1 billion amid the Pandemic, representing a year-on-year increase of 62.1%. Gross profit grew by 101.3% to approximately HK$980.6 million, with gross profit margin up by 4.7 percentage points to 24.0%. Despite the write-off of fixed assets made for further surrendering parts of the leased factory in Shenzhen and the higher operating expenses incurred due to RMB and VND appreciation, having enhanced operating leverage attributable to the higher revenue and effective cost control measures, earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 125.7% to approximately HK$650.7 million, with EBITDA margin up by 4.4 percentage points to 15.9%. Consequently, the Group turned around to net profit of approximately HK$254.3 million (1HF2021: net loss of HK$32.4 million) and net profit margin at 6.2%. Basic earnings per share attributable to owners of the Company were HK20.8 cents (1HF2021: basic loss per share of HK2.6 cents). Excluding the one-off expense item arising from surrendering parts of the leased factory in Shenzhen, net profit should have been approximately HK$275.6 million with a net profit margin of 6.8%.

To share the fruitful results with shareholders, the Board has resolved to declare an interim dividend of HK6.8 cents per share for 1HF2022 (1HF2021: nil), in line with the Group's dividend policy of distributing no less than 30% of its net profit for the financial year.

Mr. YY Hung, Chairman, Chief Executive Officer & Executive Director of Regina Miracle, said, "Leveraging on our well-established IDM capabilities, we continued to innovate in craftsmanship and develop production equipment to create products trendsetting in the market. Such efforts, plus having capacities strategically laid out in the PRC and Vietnam, we were able to achieve win-win together with brand partners amid the Pandemic. We are pleased to see the business of our long-term brand partners returning to normal and the closer than before working relationship with them. With our different businesses and regional markets all thriving, we recorded historical high revenue for the first half of the year."

In the past few years, the Group has kept launching new products through craftsmanship revolutions and new production equipment developed, as well as coming up with products in new cross industries and cross product lines categories to form a diversified product matrix. To show the performance of its different business segments more clearly, the Group has regrouped its business into the following six major segments with effect from the current financial year.

Intimate wear: Regina Miracle's innovative craftsmanship helps major brand partners resume their businesses, thus bringing segment revenue to record high
Intimate wear contributed HK$2,336.0 million in revenue, a year-on-year surge of 111.6%, accounting for 57.3% of the total revenue. Gross profit of the segment grew by 175.8% to approximately HK$569.9 million, with gross profit margin up by 5.7 percentage points to 24.4%. This segmental revenue reached historical high, thanks mainly to the decent recovery of European and U.S. markets, with orders for traditional intimate wear rebounding and surpassing pre-Pandemic levels. Drawing on its strong R&D capabilities and innovative craftsmanship, the Group developed new products that contributed to the business recovery of brand partners, with orders from the Group's largest U.S. brand partner seeing a particularly strong rebound. Fueled by the new working from home norm, sales of trendy comfortable bra top products doubled during the Period. Furthermore, the Group found several new partners in emerging mainland e-commerce brands earlier and achieved decent growth in orders from them during the Period.

Sports products: Sales of sports bras double and sports leggings are well received by leading international emerging brands and domestic sports brands
The sportswear segment contributed approximately HK$1,036.4 million in revenue, up 58.6% year-on-year and accounting for 25.4% of total revenue. Segmental gross profit climbed by 100.2% to approximately HK$243.4 million, with gross profit margin up by 4.9 percentage points to 23.5%. Sports bras sustained strong performance, with sales doubled, driven by the prevailing sports craze. As for sportswear, the Group adjusted its strategic direction - shifting emphasis from apparel products to bra products in the partnership with a Japanese casualwear brand partner. In this sub-segment, the Group focused on sports leggings, embodying its superb craftsmanship, thus enriched its customer portfolio adding to it some leading emerging international brands and domestic sports brands.

Consumer electronics components: "Stay-at-home" trend drives sales to double amid Pandemic
Revenue from consumer electronics components segment amounted to approximately HK$232.7 million, representing a significant year-on-year increase of 104.0% and accounting for 5.7% of the total revenue. Gross profit of the segment increased by 117.1% to HK$58.2 million, with gross profit margin up by 1.5 percentage points to 25.0%. Segmental revenue doubled mainly because consumers spent more hours at home due to the Pandemic, thus fueled the marked growth in demand for consumer electronics for home use, such as virtual reality (VR) headsets, keyboards, mice and notebook bags. Based on the orders received in the second half year, the Group expects orders to continue to grow in the future and give it new growth impetus.

Bra pads and moulded products: As demand for intimate wear products picks up, revenue climbs by 60% year-on-year
Revenue from bra pads and moulded products segment amounted to HK$193.1 million, representing a significant 63.1% growth year-on-year and accounting for 4.7% of the total. Gross profit of the segment increased by 85.9% to HK$45.4 million, with gross profit margin up by 2.9 percentage points to 23.5%. The segmental revenue growth primarily stemmed from recovering demand for traditional intimate wear products.

Footwear products: Sales from a U.S. casual footwear brand partner continue to grow, driving revenue up 10% year-on-year
Revenue from this business segment amounted to HK$170.8 million, representing a year-on-year increase of 10.7% and accounting for 4.2% of the total revenue. The increase was attributable mainly to a U.S. casual footwear brand partner maintaining steady sales growth. Gross profit of the segment grew by 3.5% to HK$39.3 million, with gross profit margin of 23.0%, which reflected the reallocation of footwear production to Vietnam only starting from the Chinese New Year this year, thus production was still at an efficiency ramp-up stage.

Fabric masks: Produces featured fabric masks for major sports brands, Tokyo Olympics masks elicit enthusiastic market response
Fabric masks segment contributed revenue of approximately HK$111.7 million, accounting for 2.7% of the Group's total revenue. Gross profit of the segment amounted to approximately HK$24.6 million and gross profit margin was 22.0%. as the Group mainly produces trendy fabric sports masks, the featured fabric masks it produced for major sports brands resonated the market needs, including the masks at the Tokyo Olympics manufactured for a well-known international sports brand.

Vietnamese factories output increased to 80%, higher efficiency and effectiveness enable the Group to grasp strong demand from domestic and overseas brand partners following market rebounds quickly
To quickly capture the robust demand of domestic and overseas brand partners as the market resumed, the Group continued to enhance the efficiency and effectiveness of its five factories at the Vietnam Singapore Industrial Park in Hai Phong City, Vietnam and added production lines, thereby boosted production capacity. The first phase of the facility in Hung Yen Province, Vietnam officially commenced operation in April 2021, which addressed the growing business demand. As an important production base, Vietnam has a well-laid foundation to support growth of the Group's export business. As at 30 September 2021, the half-year revenue from production in Vietnam rose to 80% of the total revenue of the Group, as compared with 76% in first half of Fiscal year 2021.

As the Pandemic has been well under control in Hai Phong and surrounding provinces, operations in the six factories of Regina Miracle in Vietnam have remained normal. With the demand of international brand partners reviving since the second half of last year, the Group has had no complaint with hiring and retaining staff, allowing it to keep stable production capacity in Vietnam. About 90% of the employees suitable for receiving COVID-19 vaccination at the Hai Phong production base had taken the shots. That has not only ensured employees can work in a safe environment, but also that the Group has stable production operations in the country for capturing the strong demand and orders from international brand partners.

As for the Shenzhen factory in the PRC, the Group's R&D centre and production base, it has continued to support international brand partners in pushing forward their strategy to develop the PRC market and also the Group's own mainland business development. All employees who are fit for vaccination at the factory had taken the shots.

Insist on innovation-driven development, bolstering strengths, expanding multiple business segments, doors opening to a golden era of development
Regina Miracle has insisted on driving development with innovation. It firmly believes on top of working hard to maximise profit, a business should also aim for sustainable development. With more than 20 years of innovation-driven development under its belt, the Group has acquired a number of competitive industry edges and opened the golden era of development for its different business segments.

Continuous upgrade of core technologies cements technological barriers
Committed to technological innovation, the Group has continually upgraded its three core technologies. In recent years, it has also set up a special Manufacture Innovation Center for developing customised machinery and equipment with cutting-edge technologies, in a bid to ensure it has industry-leading and exclusive innovative technologies. The team also keeps revolutionising production crafts and developing new production equipment to support product innovation and, via fully use of templates and automation, to boost mass production efficiency and stability. The Group holds more than 140 patents and has many technology trademarks registered. As a state-level high-tech enterprise, the Group owns an industry-leading national laboratory. Such technological breakthroughs, innovative craftsmanship, capability in production equipment development and automation have given Regina Miracle high and strong technological barriers hard for others to cross.

A brand matrix with high growth potential is in place
Having extended application of its three core technologies across industries and product lines, the Group now operates three main business segments: underwear, sports and consumer electronics. All of the Group's partners are top quality brands in the industry and have long-term cooperative relationship with it. The three segments together have given the Group a brand partnership matrix that permits it to open up more room for expanding business in the future, as well as capabilities more comprehensive to resist industry risks.

Win-win and mutually beneficial strategic cooperative relationship with loyal brand partners With market acumen and cutting-edge innovative technologies, Regina Miracle continues to supply market-leading innovative products to brand partners. Those unique technologies and leading innovative products have ensured the steady growth in market share for the Group as well as for its brand partners. Furthermore, affording products of consistent quality and timely delivery has seen Regina Miracle become a trusted partner of major brands.

A maturing multi-regional production capacity layout
After about five years of deploying capacities and building teams overseas, the Group's production capacity in Vietnam has advantages in terms of scale, fast capacity ramp-up and quality output. In addition, via rolling out digitised management, the Group can better and more flexibly coordinate overall planning and deployment of production capacities, as well as achieve more timely and efficient on-site management, thus laying a solid foundation for future expansion of its multiple businesses.

The planned Zhaoqing Industrial Park in the Greater Bay Area is an important part of the Group's effort to expand the PRC market. To support international brand partners in developing the PRC market and to strengthen exploration of new opportunities by the Group itself with emerging online brands and other channels in the market, the management plans to relocate the production base in Mainland China to the Zhaoqing New District by the end of 2023. The factory will mainly produce intimate wear, sportswear and consumer electronics components, to capture the tremendous potential of the mainland market. With a gross floor area of approximately 390,000 square metres, 50% larger than the existing Shenzhen factory, the new factory will be a highly-intelligent factory of the future, promising to significantly boost production efficiency.

Formulate a new five-year plan for Fiscal 2022-2026 to capitalize on the golden era of development
For five years after listing, the Group has kept innovating in craftsmanship and production equipment, pushing forward digitalisation and production automation, plus optimising capacity layout in Vietnam. Regina Miracle has a solid business foundation, a robust network of brand partners and product matrix now. All these advantages have enabled it to stand out more prominently in the challenging environment bred by the Pandemic and forge strong strategic ties with brand partners, in turn cemented industry leadership. Well-positioned in the market with an established presence in Vietnam and limited investment expected in the future, the Group is ready to fully capitalise on its golden era of growth in the next five years.

With the Group moving into the next mile of development, the management has re-examined the status of the Group's businesses and formulated a new five-year plan for Fiscal 2022 to 2026. On the premise that the Pandemic remains under control, it believes the Group, armed with leading edge in innovative R&D and strong growth momentum, will retain robust growth in Fiscal 2022, continuing to record considerable increment in Fiscal 2023 and 2024 and steady growth in the years following. The management's optimism for the next five years is founded on a number of favourable drivers.

In terms of business development, firstly, the Group has seen orders for its core intimate wear products surpassing levels in previous years, with sound growth expected to continue in the next few years on fervent market demand for innovative products. Secondly, with the entire sports segment booming, the Group has begun to venture beyond its well-received sports bras and extend into the athleisure sports apparel category that include such products as sports leggings, where the Group has innovative R&D capabilities and production capacity. It is confident of replicating the growth trajectory of sports bras for the sports leggings. Furthermore, consumer electronics are entering a period of rapid growth riding the "Metaverse" fever, with sales expected to increase considerably in coming years. The major sports brands and consumer electronics components partners have worked with the Group to formulate growth plans for business cooperation in the next five years. Based on the optimistic growth currently estimated, the management is confident in the development prospects of these businesses. As for footwear business, the Group is focusing currently on working with its U.S. casual footwear brand partner and the two companies have grown together over the past few years with product variety increasing, it believes it has a strong foundation for furthering healthy growth of the business.

In terms of product mix, the Group will shift toward a more favourable direction. In addition to growth opportunity in average selling price driven by the innovation-led high value product it develops, having strong innovation capabilities will also bring to the Group opportunities in cross-category product expansion.

On the market front, the Group will keep cultivating the rebounding European and U.S. markets and strengthen its close ties with existing international brand partners, while stepping up cooperation with young and fast-growing new brand partners. In the promising PRC market, it has just started its journey yet already achieved good initial results, and it expects the sales contribution from new retail channels to increase considerably.

To support the fast-growing business, the Group has adequate production capacity. The capacity utilisation of the Group's existing Vietnamese facilities continues to increase, which complemented by automation and digitised management, will drive production capacity growth. As improving result, the Group's planned production capacity can meet order demands of brand partners as well as its own in the coming years. Scheduled to commence mass production by the end of 2023 (i.e. second half of Fiscal 2024), the new Zhaoqing Industrial Park will be able to support business growth for Fiscal 2025 to 2026 under its five-year plan.

Regarding profit, the management also expects the Group to record a significant rise in profit for this fiscal year and continuous steady increases in the next few years, growing stronger than revenue at the Group developing high-value added products with better margin profile, achieving higher production efficiency with workers maturing in their skills, increased automation, digitised management and lean production planning, as well as attaining operating leverage from raising economies of scale by adding more production lines in Vietnam, while reducing and maintaining stable future capital expenditure. All of the above will help decrease depreciation expenses ratio and other fixed operating expenses. Also mindful of the volatility of exchange rates, the management will continue to monitor foreign currency exchange exposure and take prudent measures to minimise related risks whenever deemed fit.

Better profitability also helps the Group attain a healthier cash flow and financial position. With sales growth and profit continuing to increase, plus the first stage of the capacity deployment plan in Vietnam completed, capital expenditure will lower considerably in the year ahead, meaning the Group can hope to have more operating cash flows to gradually reduce debt in the coming few years and see its net gearing ratio coming down to a healthier level, enabling it to concentrate resources on expanding business in the years ahead.

Mr. Hung concluded, "Having world-leading industry strengths and shrewd insights of market trends and user requirements, we will firmly adhere to our innovation-driven development strategy, maintain our R&D advantages, and keep abreast of and respond swiftly to market demands, so as to develop innovative products that can satisfy consumer needs. We will seek to make the best of its multi-regional production capacity layout to open markets together with its brand and supply chain partners for win-win development. In addition to business development, we will also continue to contribute to sustainability by focusing on carbon reduction, waste management, sustainable innovation and people and community, thereby realise sustainability through solidarity with all stakeholders, and create long-term value for shareholders."

About Regina Miracle International (Holdings) Limited
Founded in Hong Kong in 1998, Regina Miracle International (Holdings) Limited is a global leader in the intimate wear manufacturing industry. Adopting the innovative design manufacturer ("IDM") business model, Regina Miracle offers its world-renowned brand partners diverse products, including intimate wear, sports products, consumer electronics components, bra pads and moulded products, footwear and fabric masks. The Group has two strategic strongholds - its R&D and production base in Shenzhen, China, and a major production base in Vietnam, where the Group has expanded production capacity since 2016.

Media Enquiries:
Strategic Financial Relations Limited
Iris Lee / Shelly Cheng / Fanny Yuen
Tel: (852) 2864 4829 / 2864 4857 / 2864 4853
Email: sprg_rm@sprg.com.hk


Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com

source https://www.acnnewswire.com/press-release/english/71424/