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Trio Industrial Electronics Group's revenue for the six months ended 30 June 2024 amounted to HK$389.2 million; Continue to Develop ‘Greater Asia Sustainable Energy Business Circle’
Trio Industrial Electronics Group's revenue for the six months ended 30 June 2024 amounted to HK$389.2 million; Continue to Develop ‘Greater Asia Sustainable Energy Business Circle’[Hong Kong – 28 August 2024] Trio Industrial Electronics Group Limited (“Trio Group” or the Group”, Stock code: 1710), a leading manufacturer and distributor of advanced industrial electronic components and products in Hong Kong, is pleased to announce the consolidated interim results of the Company and its subsidiaries (the “Group”) for the six months ended 30 June 2024 (“the Period”).During the Period, Europe and North America continued to be the Group’s major markets, contributing 86.2% and 7.8% of total revenue respectively. The major markets faced economic growth slowdowns caused by challenging business conditions, including high interest rates, currency depreciation, and geopolitical tensions. Customers struggled to manage surplus inventories, requiring extended efforts to reduce them amid stagnant end-user sales. Moreover, improvements in supply chain logistics and shorter delivery times encouraged customers to scale back surplus inventory levels, thereby reducing product demand.Consequently, the Group’s revenue for the Period decreased by 31.2% to approximately HK$389.2 million as compared with the corresponding period of 2023. Gross profit decreased by 43.2% year-on-year to approximately HK$67.6 million. Gross profit margin was 17.4% The Group reported a loss of approximately HK$ 25.9 million for the Period.In terms of business development, the Group’s order backlog indicates strong demand for its products, driven by a growing emphasis on health awareness, digital transformation, and the transition to sustainable energy. In addition, the Group strategically allocated additional resources to explore new opportunities in the new energy sector. The Group’s involvement in new energy initiatives included the production of essential electronic components for solar and wind power applications, as well as the development of electric vehicle chargers under our self-owned renowned “Deltrix” brand. Concurrently, in alignment with China’s influential “Belt and Road” initiative, the Group actively expanded its presence in Central Asia, notably inaugurating its first electric vehicle charging station in Almaty, Kazakhstan. The Group has been able to maintain a healthy financial position, with cash and bank balances (including restricted bank deposits) amounted to HK$120.1 million (31 December 2023: HK$77.5 million) and a current ratio at 2.6 times as at 30 June 2024. (31 December 2023: 2.9 times)Mr. Cecil Wong, the Chairman of Trio Industrial Electronics Group Limited said, “Looking forward to the second half of this year, we remain cautiously optimistic about the challenges in the business environment. Meanwhile, we also expect abundant opportunities in Central Asia with the positive development in relation to China’s ‘Belt and Road’ initiative. The Group’s overarching vision is to develop a ‘Greater Asia Sustainable Energy Business Circle’, fostering collaboration and sustainable growth across the region. To achieve this, we extend to establishing a solid presence in Uzbekistan, Hong Kong, and Southeast Asia by providing comprehensive solutions for electric vehicle charging. The Group will also establish more electric vehicle charging stations in Almaty, Kazakhstan. We aim to create an ecosystem that includes electric vehicle charging facilities, advertising services, intelligent e-commerce, car washes and convenience stores at these locations.”Mr. Wong continued, “Additionally, the Group will continue to invest in cutting-edge technologies to enhance production efficiencies and capabilities in its production facilities. Through these focused initiatives, the Group aims to strengthen its market position, harness industry growth, and uphold its dedication to excellence while meeting the diverse needs of its stakeholders.”About Trio GroupTrio Industrial Electronics Group is a manufacturer and distributor of advanced industrial electronic components and products in Hong Kong with nearly 40 years of industry experience. It is also the first Hong Kong-based industrial electronic company awarded with the Industry 4.0 maturity certificate - Industry 4.01i level. The Group’s major products include smart chargers, electro-mechanical product and switch-mode power supplies, which are widely used in smart city systems, medical and healthcare sector, as well as renewable energy field. The Group has built up a good reputation and become a trusted supplier to various international well-known brands. The majority of its clients are from Europe and the US while some from Southeast Asia and PRC. In addition, the Group and its partner have developed their own EV charger solution - Deltrix since 2017, which has been launched in the European market in response to the global efforts to develop smart economies.This press release is issued by DLK Advisory Limited on behalf of Trio Industrial Electronics Group Limited.For more details, please contact:Skye Shum - IR Managerskyeshum@triohk.com.hkPR media:DLK Advisorypr@dlkadvisory.comFile: Trio Industrial Electronics Group's revenue for the six months ended 30 June 2024 amounted to HK$389.2 million; Continue to Develop ‘Greater Asia Sustainable Energy Business Circle’28/08/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Wed, Aug 28
Uni-Bio Science Group Limited Announces 2024 Interim Results
Achieved Record High Revenue of HK$273.6M and Net Profit of HK$67.4MFurther Penetration to Osteoporosis, Ophthalmology, and Medical Aesthetic Device Markets(28 August 2024 – Hong Kong) A fully integrated biopharmaceutical company – Uni-Bio Science Group Limited (“Uni-Bio Science”, together with its subsidiaries referred to as the “Group”, stock code: 0690.HK), is pleased to announce its interim results for the six months ended 30 June 2024 (the “Period”).Key Accomplishments in the First Half of 2024During the Period, the Group achieved a spectrum of accomplishments, for both of its marketed products and innovative biologics. The key highlights include:The Group’s revenue achieved an increase of 9.5% year-on-year (“YoY”) to approximately HK$273.6 million, whilst improving gross profit margin by 4.7 percentage points to 84.3%. Sales of Pinup® performed well, registered an increase of 12.8% YoY. The Group’s newly launched product Bogutai® achieved sales of HK$18.8 million in just four months, exceeding initial expectations.The Group achieved a record-breaking profit of approximately HK$67.4 million for the Period, representing a significant increase of 71.0% YoY, underscoring the Group’s effective strategies and operational efficiency.In January 2024, the China National Medical Products Administration (“NMPA”) granted official approval for Bogutai®’s marketing launch, marking a pivotal milestone for the Group in orthopedic disease management. Sales of Bogutai® commenced in the first half of 2024. With its superior safety profile and competitive pricing, Bogutai® promises to revolutionize global drug administration, making it more accessible and patient-friendly.In January 2024, the NMPA accepted the marketing application for Diquafosol Sodium eye drops, marking a significant advancement for the Group's ophthalmology drug portfolio. Diquafosol Sodium is anticipated to receive marketing approval in the first quarter of 2025, complementing the existing ophthalmic drug portfolio and becoming one of the first BFS Diquafosol products to be listed.The Group officially launched its first advanced skincare raw material product, Skbrella™ FN, with sales contributions expected to begin in the second half of 2024. The Group is leveraging endorsements from key opinion leaders (KOLs) in dermatology and capitalizing on the synergistic effects of Skbrella™ FN and EGF to enhance the brand's professionalism and market appeal.The Group is dedicated to the research and promotion of isavuconazonium sulfate, providing more effective antifungal treatment options for patients worldwide and improving their quality of life. During the Period, the Group completed the pharmaceutical research and is preparing to conduct pre-Bioequivalence studies, with the official market launch expected in the first half of 2027.In May 2024, the Group cooperated with Great Bay Bio (GBB) and Pebble Accelerator, a subsidiary of Tigermed to joint development of innovative weight reduction drugs, aiming to revolutionize the treatment of obesity. Through this collaboration, we seek to establish a comprehensive ecological industry chain, spanning from target discovery to antibody generation, druggability verification, process development, clinical pipeline, and ultimately, commercialization.Interim ResultsFor the Period, the Group recorded revenue of approximately HK$273.6 million, representing an increase of 9.5% YoY. The increase in revenue was mainly attributable to the sales growth of Pinup® and the Group’s newly launched product Bogutai®. Pinup® recorded an increase of 12.8% in revenue from approximately HK$124.8 million to approximately HK$140.9 million for the Period. The increase was attributable to the successfully re-selected for the centralized procurement and the procurement validity period is set for two years. The Group launched Bogutai® in March 2024 and it made an immediate financial contribution, achieving sales of HK$18.8 million in just four months. During the Period, revenue generated from GeneTime® was approximately HK$91.3 million, representing a decrease of 4.8% YoY, mainly due to the more cautious procurement strategies adopted by public hospitals due to stricter governance. Yet, the Group continues to diversify its sales channel, such as e-commerce platforms, online hospitals and pharmacies. GeneSoft® recorded a decrease in revenue from approximately HK$22.3 million to approximately HK$18.9 million, representing a decrease of 15.4% YoY. During the Period, revenue from Boshutai® declined from approximately HK$6.9 million to approximately HK$3.8 million, representing a decrease of 45.7%.Gross profit was approximately HK$230.6 million, representing an increase of 16.0% as compared with approximately HK$198.9 million for the first half of 2023. Gross profit margin increased by 4.7 percentage points YoY to 84.3%, which was attributable to the Group’s ongoing efforts in optimizing its supply chain and effectively lowering the procurement cost of API. The Group kept a tight rein on general and administrative expenses, which only accounted for 8.7% of revenue for the Period as compared with 9.4% for the same period last year. Selling and distribution expenses for the Period also decreased to 42.8% of revenue from 50.5% that of the same period last year, mainly due to the marketing expenses of Pinup® decreased and the Group’s further optimization of its salesforce. The R&D expenses increased by 77.9% YoY to approximately HK$20.9 million and the amount was in step with the Group’s product research status. The Group achieved a record-breaking profit of approximately HK$67.4 million for the Period, representing a significant increase of 71.0% YoY. The substantial profit increase, driven by the launch of a new drug, the organic growth of marketed drugs, effective marketing strategies, strict cost control and ongoing supply chain optimization. This indicates that the Group is on the right path for sustainable profit growth. ProspectsWith advancements in biotechnology and strong governmental backing, the pharmaceutical landscape in China is poised for significant growth with a compound annual growth rate (“CAGR”) of 7.5% from 2024 to 2032, according to Imarc Group. Alongside traditional pharmaceuticals, the aesthetic medical sector is gaining prominence in the market. Forecasts indicate that the aesthetic medical market is set to sustain a CAGR growth of 10% to 15% between 2024 and 2027, primarily attributing to the increasing emphasis on beauty standards and the increased spending in this domain, particularly by individuals with moderate to high incomes. The two sectors are the Group’s focus, showcasing massive expansion opportunities for the Group. Looking forward, Mr. Kingsley Leung, Chairman of Uni-Bio Science said, “We are committed to establishing a highly commercial-driven and specialized boutique R&D platform where we tightly integrate research and production under one roof. Our focus is on growing our existing products and launching new high value generic and aesthetic medical products, which we believe will continue to provide strong cash flow in the short term and support the Group’s ongoing R&D on proprietary biopharmaceutical products. This includes expanding into new areas, such as best-in-class biologics for ophthalmology and obesity.In early July 2024, we have partnered with Chongqing Minji Medical Device Co., Ltd. to tap into the medical aesthetic device sector. This collaboration grants us exclusive distribution rights for their premier products andallows us to co-develop medical device products leveraging the Group's patented core ingredient, Skbrella™ FN. This joint initiative aims to introduce China's first batch of class II medical devices utilizing fibronectin, bolstering the Group's leadership in skincare and medical aesthetics. We expect to generate over RMB30 million annually in revenue from the aesthetic medical segment within the next two to three years.To boost product awareness and market shares, we have implemented an omnichannel strategy by collaborating with internet hospitals, establishing an official GeneTime® flagship store on JD.com and partnering with over 200 online distributors. In terms of offline efforts, we have partnered with top national chain stores and retailers renowned for strong brand presence and customer trust, as we believe this provides additional opportunities for the Group to engage more potential customers. These efforts aim to further bolster product sales and establish a robust foundation for the future launch of upcoming products.To support our upcoming sales and diversified product range, our new factory in Dongguan, Guangdong, has completed construction. The factory is expected to produce up to 19 million units per year of the Group's signature products, GeneTime® and GeneSoft®, representing an annual output value exceeding RMB 1 billion. This factory also features a BFS packaging line for the production of single-dose GeneSoft® and Diquafosol Sodium Eye Drops. The BFS packaging research and archival filing are expected to conclude by 2025, with the launch of GeneSoft® and Diquafosol Sodium Eye Drops in BFS packaging anticipated in 2026.” About Uni-Bio Science Group LimitedUni-Bio Science Group Limited is principally engaged in the research and development, manufacture and distribution of pharmaceutical products. The research and development centre is fully equipped with a complete system for the development of genetically-engineered products with a pilot plant test base which is in line with NMPA requirements. The Group also has two GMP manufacturing bases in Beijing and Shenzhen. The Group also has a highly efficient commercialization platform and marketing network. The Group focuses on the development of novel treatments and innovative drugs addressing the therapeutic areas of endocrine such as diabetes and osteoporosis, ophthalmology and dermatology.Uni-Bio Science Group Limited was listed on the Main Board of the Hong Kong Stock Exchange on November 12, 2001. Stock code: 0690.For further information, please contact: ir@uni-bioscience.com 28/08/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Wed, Aug 28
20 ETFs that could make big moves on Nvidia earnings, according to Goldman Sachs
Recent movements in macro assets on Nvidia earnings demonstrate the major role of the AI theme and the chipmaker as a key market bellwether, Goldman Sachs (NYSE:GS) said in a Wednesday report.NVIDIA CInvesting.com
Wed, Aug 28
Mega Matrix Announces FlexTV's Surge to Top 4 on the App Store Entertainment Chart (Free Apps, Saudi Arabia) as of August 27, 2024
PALO ALTO, Calif., Aug. 28, 2024 /PRNewswire/ -- Mega Matrix Corp. ("MPU" or the "Company") (NYSE American: MPU), today announced that FlexTV, its short drama sPR Newswire
Wed, Aug 28
