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RHT Rajan Menon Foundation presents Gentle Bones Charity Concert on 22 July 2022

SINGAPORE, May 29, 2022 - (ACN Newswire) - Local singer-songwriter Gentle Bones will return to the stage for a good cause in collaboration with RHT Rajan Menon Foundation...

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Colt Technology Services delivers higher bandwidth for AWS Direct Connect Hosted services

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TOKYO, Apr 21, 2022 - (ACN Newswire) - Colt Technology Services has today announced that it can now support Colt On Demand cloud connectivity to AWS Direct Connect Hosted services, with speeds of up to 10 Gbps, for customers in Japan, Hong Kong and Singapore.

10 Gbps connectivity was previously only available on AWS Direct Connect Dedicated services, but with this enhancement, customers can now connect directly to AWS Direct Connect Hosted services without having to use cross-connects, reducing their Total Cost of Ownership (TCO) and increasing speed of delivery. Customers can also make use of different AWS virtual interfaces (private, public, transit).

Initially launched in Europe last year, with this announcement, Colt is now offering the service in Asia (Hong Kong, Japan, and Singapore), with high bandwidth of up to 10Gbps, in a fully flexible connectivity solution with Colt On Demand.

The recent increase in hybrid working has also increased the need for flexible traffic control. Colt On Demand enables rapid network deployment to take full advantage of the flexibility of the cloud. In addition, bandwidth can be adjusted in real-time, according to the ratio of office workers and those working remotely, enabling the cost effective creation of a high perfomance cloud computing environment.

Masato Hoshino, President and Asia Representative at Colt, said: "We have built a strong relationship with AWS and, as an AWS Partner, Colt has provided AWS connectivity to a large number of customers across all industries in Asia. This announcement highlights our continued investment in APAC and our commitment to provide our customers with agile, flexible, and secure cloud connectivity services to meet their high bandwidth needs and help them to take advantage of everything the cloud has to offer."

Recognised as a Visionary in the Gartner 2021 Magic Quadrant for Network Services, Colt also received Frost & Sullivan's 2021 European Customer Value Leadership Award. The company has industry-leading Net Promotor Scores (NPS), reflecting Colt employees' high motivation.

About Colt

Colt strives to transform the way the world works through the power of connectivity. The Colt IQ Network connects 900+ data centres across Europe, Asia and North America's largest business hubs, with over 29,000 on net buildings and growing.

Colt understands business connectivity requirements and provides high performance and high bandwidth solutions to enable customers' success, with Colt's vision centering on being the most customer oriented business in the industry. Customers include data intensive organisations spanning over 210 cities in more than 30 countries. Colt is a recognised innovator and pioneer in Software Defined Networks (SDN) and Network Function Virtualisation (NFV). Privately owned, Colt is one of the most financially sound companies in its industry and able to provide the best customer experience at a competitive price. For more information, please visit www.colt.net.

Press Contact:
Nola Pocock - VP Global Communications
+447917714377
nola.pocock@colt.net

Ritsuko Onodera
+81345607147
Ritsuko.Onodera@colt.net

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comColt Technology Services has today announced that it can now support Colt On Demand cloud connectivity to AWS Direct Connect Hosted services, with speeds of up to 10 Gbps, for customers in Japan, Hong Kong and Singapore.

NextPlay Technologies Acquires Assets and IP of Casual Game Publisher, goGame, to Integrate its HotPlay In-Game Advertising Technology

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SUNRISE, FL, Apr 20, 2022 - (ACN Newswire) - NextPlay Technologies, Inc. (Nasdaq: NXTP), a technology solutions company building a digital business ecosystem for digital advertisers, consumers, video gamers and travelers, has completed its previously announced acquisition of gaming assets and IP from goGame, a Singapore-based mobile casual video game publisher and technology company.

The acquired assets include goPlay, a new-gen game publishing platform featuring a tournament system, chat, payment, and 37 casual games ranging from arcade to strategy. NextPlay plans to complete the integration of its HotPlay in-game advertising (IGA) technology into the 37 goPlay games by year-end.

NextPlay also acquired from goGame a perpetual license to goPay, a payment aggregator that offers game developers multiple ways to more easily collect and process user payments. This includes carrier billing, over the counter, e-voucher, bank transfer and e-wallet. The goPay technology further extends NextPlay's existing payment services, offering access to a wider array of global payment providers.

"The key value for us in this acquisition is how the goPlay platform enables gamers to form a community within its ecosystem," noted NextPlay co-chief executive Nithinan (Jessie) Boonyawattanapisut. "We see this providing a ready-made platform to launch our HotPlay IGA technology, with this leading to new revenue streams and expansion of our reach to users in many additional countries around the world."

As a fully owned brand, goPlay brings Nextplay:

- Web destination for players to gather and engage in social play across a catalogue of well-crafted, hyper casual games.
- Set of new technologies and APIs, such as social graph, chat, and game tournament backend services, for integration into the company's advertising and game services offering and delivered via its core game software development kit across web, set-top box, and mobile platforms.
- New revenue stream through goPay payments and ability to harness exciting new partnerships in key areas of NextPlay's broader market focus, such as NFT gaming and cryptocurrency.

goPlay and goPay offer a core set of compelling features that are perfect for a wide variety of platform partners who will be able to sign up under an Open Beta this summer. The goGame offerings will become part of the NextPlay suite of customizable products that can be tailored to fit the individual needs and capabilities of B2B and B2C operators across the globe.

NextPlay also plans to introduce goPlay game users to its NextFinancial fintech-oriented products, including crypto banking, micro-lending, and potential insurance services. Across each of these offerings, NextPlay would also have full access to goGame's payment processing gateway goPay.

For further details about the NextPlay's asset and IP purchase from goGame, please see the NextPlay Form 8-K filing with the U.S. Securities and Exchange Commission at www.sec.gov, and also available in the nextplaytechnologies.com investor relations section.

About goGame

Go Game Pte Ltd is a game company headquartered in Singapore, with offices in Malaysia, Philippines, Taiwan, Thailand, and Vietnam. Founded in July 2015 by industry veteran David Ng, the company first made headlines for securing major investments from gaming giant SEGA and venture capitalist Incubate Fund Japan. The 200-strong team has collaborated on projects with SEGA, Disney, Colopl and Viacom. For more information, visit gogame.net

About NextPlay Technologies

NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology solutions company offering games, in-game advertising, crypto-banking, connected TV and travel booking services to consumers and corporations within a growing worldwide digital ecosystem. NextPlay's engaging products and services utilize innovative AdTech, Artificial Intelligence and Fintech solutions to leverage the strengths and channels of our existing and acquired technologies. For more information about NextPlay Technologies, visit www.nextplaytechnologies.com and follow us on Twitter @NextPlayTech and LinkedIn.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, beliefs or forecasts of future events and performance. A statement identified by the use of forward-looking words including "will," "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Factors that may cause such a difference include risks and uncertainties related to our need for additional capital which may not be available on commercially acceptable terms, if at all, which raises questions about our ability to continue as a going concern; the fact that the COVID-19 pandemic has had, and is expected to continue to have, a significant material adverse impact on the travel industry and our business, operating results and liquidity; amounts owed to us by third parties which may not be paid timely, if at all; certain amounts we owe under outstanding indebtedness which are secured by substantially all of our assets and penalties we may incur in connection therewith; the fact that we have significant indebtedness, which could adversely affect our business and financial condition; uncertainty and illiquidity in credit and capital markets which may impair our ability to obtain credit and financing on acceptable terms and may adversely affect the financial strength of our business partners; the officers and directors of the Company have the ability to exercise significant influence and voting control over the Company; stockholders may be diluted significantly through our efforts to obtain financing, satisfy obligations and complete acquisitions through the issuance of additional shares of our common or preferred stock; if we are unable to adapt to changes in technology, our business could be harmed; our travel business depends substantially on property owners and managers renewing their listings; if we do not adequately protect our intellectual property, our ability to compete could be impaired; our long-term success depends, in part, on our ability to expand our property owner, manager and traveler bases outside of the United States and, as a result, our business is susceptible to risks associated with international operations; unfavorable changes in, or interpretations of, government regulations or taxation of the evolving ALR, Internet and e-commerce industries which could harm our operating results; risks associated with the operations of, the business of, and the regulation of our recent acquisitions of Longroot Holding (Thailand) Company Limited (Longroot), HotPlay Enterprise Limited (HotPlay) and NextBank International (formerly IFEB); the market in which we participate being highly competitive, and because of that we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to changes in technology, which could harm our business; the volatility of our stock price; risks associated with the integration of the operations of HotPlay, Longroot and IFEB, which acquisitions we recently competed; the fact that we may be subject to liability for the activities of our property owners and managers, which could harm our reputation and increase our operating costs; and that we have incurred significant losses to date and require additional capital which may not be available on commercially acceptable terms, if at all. More information about the risks and uncertainties faced by NextPlay are detailed from time to time in NextPlay's periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings "Risk Factors". These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

Source: NextPlay Technologies, Inc.

Company Contact:
NextPlay Technologies
Richard Marshall
Director of Corporate Development
Tel (954) 888-9779
rmarshall@monakergroup.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comNextPlay Technologies, Inc. (Nasdaq: NXTP), a technology solutions company building a digital business ecosystem for digital advertisers, consumers, video gamers and travelers, has completed its previously announced acquisition of gaming assets and IP from goGame, a Singapore-based mobile casual video game publisher and technology company.

Avance Clinical Finalist for Informa Pharma Intelligence Awards 2022 – Best Contract Research Organization in APAC

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ADELAIDE, AUS, Apr 19, 2022 - (ACN Newswire) - Avance Clinical, the largest premium Australian Contract Research Organisation (CRO) for international biotechs, has been selected as a finalist for the Best Contract Research Organization in APAC by Informa Pharma Intelligence.

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Avance Clinical has undergone significant expansion in recent years, including new offices in Sydney and Melbourne to accommodate the growing clinical team in Australia.

The award winner will be announced on 1 September 2022. The finalists are:
- Avance Clinical
- Calyx
- CMIC Group
- EPS
- ICON
- Parexel
- Syneos Health

Avance Clinical's CEO Yvonne Lungershausen said:

"Avance Clinical is extremely pleased to be selected as a finalist for this prestigious award. It is a credit to our amazing customer-focused team for delivering the CRO excellence that has been recognized by the Informa Pharma Intelligence award judges.

"Avance Clinical has a global reputation for agile clinical solutions to support accelerated clinical development for our international biotech clients. We are very proud of our growth and success in APAC in recent years."

According to Informa Pharma Intelligence:

This Award is to recognize CROs that provide full or specialist services to their clients and which have an office in either in Japan or the Asia region including Australia.

Judging considers the quality of services and relationships built with clients and pays particular attention to the innovative patient recruitment strategies the CRO has brought to the table.

The award is based on achievements in the 2021 calendar year.

Core areas judged include:
- The particular capabilities and strengths the CRO offers
- How the company has delivered results that exceed sponsor expectations
- Innovations in patient recruitment strategy has the CRO brought to its partner
- How it has improved its performance, for example, in its quality of data, timelines and transparency
- The steps the company is taking towards streamlining data collection and reporting

To find out more please visit: https://pharmaintelligence.informa.com/events/awards/japan-awards-2022/shortlist-2022

Avance Clinical recently secured a significant investment from global private equity firm, The Riverside Company (Riverside), to support further regional and global expansion. The investment values the company in excess of $200m.

"With the support of Riverside and its powerful global footprint and deep healthcare experience, Avance Clinical will execute on its regional and international expansion plans organically and via acquisitions," said Lungershausen.

Avance Clinical is the Australian-owned CRO that provides global regulatory standard clinical research services across all phases to the local and international biopharma industry.

The company is also accredited as a gene technology CRO under the Office of the Gene Technology Regulator (OGTR) which has allowed it to expand into clinical trials for vaccines and GMO therapies.

"We have shown, with our high growth and industry-leading repeat business rates that our focus on gold standard technology paired with solution-orientated clinical experts is the mix our biopharma clients require in this fast-moving, competitive and high-stakes sector," said Lungershausen.

Avance Clinical has been recognised for the past two consecutive years with the prestigious Frost & Sullivan CRO Best Practices Award.

Find out more:
- Learn about the Australian Advantage here https://www.avancecro.com/the-australian-advantage/
- Read more about Avance Clinical's cell and gene therapy capabilities here www.avancecro.com/avance-clinical-featured-in-endpoints-news-on-cell-gene-therapy-capabilities/
- For more information about the benefits of running your next study with Avance Clinical contact us: enquiries@avancecro.com

About Avance Clinical

Avance Clinical is the largest premium full-service Australian CRO delivering quality clinical trials, with globally accepted data, in Australia and New Zealand for international biotechs. The company's clients are biotechs in their early phases of drug development that need fast, agile, and adaptive solution-oriented clinical research services.

Frost & Sullivan Awards
Avance Clinical, a Frost & Sullivan Asia-Pacific CRO Market Leadership Award recipient for the past two years, has been providing CRO services in the region for 24 years.

Pre-clinical through to Phase 1 and 2
Avance Clinical offers pre-clinical services with their experienced ClinicReady team right through to Phase 1 and 2 clinical services leveraging significant Government incentive rebates of up to 43.5% and rapid start-up regulatory processes.

With experience across more than 105 indications, the CRO can deliver world-class results and high-quality internationally accepted data for FDA and EMA review.

Technology
Avance Clinical uses state-of-the-art technology and gold standard systems across all functional areas to provide clients with the most effective processes. Medidata, Oracle, and Medrio are just some of the technology partners.

Media Contacts:
Avance Clinical
Chris Thompson
media@avancecro.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAvance Clinical, the largest premium Australian Contract Research Organisation (CRO) for international biotechs, has been selected as a finalist for the Best Contract Research Organization in APAC by Informa Pharma Intelligence.

Society Pass spins-off Leflair into Leflair Group, appoints Group CEO; to become next Super Distributor Nexus in SEA’s Lifestyle Retail Ecosystem

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SINGAPORE, Apr 15, 2022 - (ACN Newswire) - Society Pass Inc (SoPa) (NASDAQ: SOPA), a leading Southeast Asian loyalty and ecommerce ecosystem, today announced the completion of restructuring Leflair's Vietnam operations with the spin-off of Leflair Group (LFGroup). Along with this restructuring, SoPa has appointed Loic Gautier as Chief Executive Officer of the new Leflair Group. Ngo Thi Cham, Vietnam Country Head of SoPa and current Managing Director of Leflair, will become Leflair Group's Chief Operating Officer and work alongside Loic in driving the business towards its next stage of growth.

As a result of this corporate restructuring, the Leflair Group is set to become Southeast Asia's next lifestyle retail super distributor nexus, evolving from a single discounted platform to a lifestyle retail ecosystem, providing shoppers with an integrated and unique shopping experience from online to offline. The Leflair Group will continue to pursue acquisition of companies in the e-commerce, lifestyle retail and online advertising verticals.

Ray Liang, CFO of SoPa Group, commented, "After the IPO of SoPa last year, we have been working on a new strategy for Leflair, in order to maximize its potential as a destination for lifestyle shopping in Southeast Asia. To facilitate this, we are happy to welcome back Loic Gautier as Group CEO, joining our executive team and becoming the driving force of Leflair Group in the future. At SoPa, hiring key talent is among our top priorities, and we always welcome Leflair's old talents to return, and work with the team to carry Leflair to new heights. Having Loic return as the CEO of Leflair Group ensures continuous and sustainable growth for Leflair in the years to come. The new recruitment also enables us to carry out larger plans for Leflair, evolving from a single online platform to become a true ecosystem for lifestyle shopping."

Since its IPO on the Nasdaq last year, SoPa has focused on M&A activities to expand the ecosystem with other online platforms across 6 verticals: lifestyle, F&B, travel, digital media, and B2B software and loyalty technology in the top three V.I.P countries of Southeast Asia - Vietnam, Indonesia, Philippines. Through these business lines, SoPa improves the interconnectedness and support within its ecosystem, fulfilling its mission to connect millions of registered consumers with thousands of registered merchants across Southeast Asia.

With this appointment, Loic will be responsible for managing Leflair Group's growth and expansion strategy, introducing the Leflair platform to other Southeast Asian countries, as well as managing future acquisitions to expand group activity into other smaller segments within the lifestyle retail industry.

As CEO of the new Leflair Group, Loic said, "It's an honor to receive SoPa's trust. With this spin-off, Leflair now has a new medium to maximize its full growth potential. By pivoting from a single platform to an integrated lifestyle retail ecosystem, we seek to connect all players within the lifestyle retail value chain, from brand distributors, to offline stores, ecommerce platforms and delivery companies. The new vision makes Leflair a pioneer in redefining the lifestyle and ecommerce retail market across Southeast Asia."

According to Loic, Leflair Group is working on ambitious plans for the period ahead, aiming for extensive funding rounds and a roadmap to IPO in the near future. To learn more, please visit websites www.thesocietypass.com and www.leflair.com.

About Society Pass

Society Pass is a leading loyalty and data marketing ecosystem that operates multiple e-commerce and lifestyle platforms across its key markets. Its business model focuses on collecting user data through the expected circulation of its universal loyalty points. It seamlessly connects consumers and merchants across multiple product and service categories fostering organic loyalty. Since its inception, SoPa has amassed over 1.6 million registered consumers and over 5,500 registered merchants/brands on its platform. It has invested 2+ years building proprietary IT architecture with cutting edge components to effectively scale and support its Platform's consumers, merchants, and acquisitions.

SoPa provides merchants with SoPa.asia, an online commerce platform for users; #HOTTAB Biz, an order management app for business partners on SoPa.asia; and #HOTTAB POS, a specialized POS technology solution and comprehensive system for payment, loyal customer management, user's profile analytics, and financial support packages for small and medium-sized enterprises. These tools attract and retain customers with personalized interaction based on analytics and high profit margins. SoPa operates Leflair.com, Vietnam's leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in Philippines, and Handycart.vn, a leading online restaurant delivery service in Vietnam. Please visit http://thesocietypass.com.

About Leflair

Based in Ho Chi Minh City, Leflair is Vietnam's leading lifestyle e-commerce platform for Fashion, Beauty and Home Furnishing products. Launched in December 2015, Leflair was selling more than 2,500 brands via its flash-sales model. SoPa acquired Leflair's assets in February 2021, relaunching the platform in September 2021, and spinning-off the Leflair Group in April 2022. For more information, please visit https://leflair.com.

Media Contact
Precious Communications for SoPa
sopa@preciouscomms.com
+65 6303 0567


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSociety Pass Inc (Nasdaq: SOPA) today announced the completion of restructuring of Leflair Vietnam's operations into a separate entity - Leflair Inc ("Leflair Group"). Along with this corporate restructuring, SoPa appointed Loic Gautier to become the new Group Chief Executive Officer of Leflair Group.

Crypto-Upvotes Is Expanding Its Business by Entering the Asian Market

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SYDNEY, Apr 13, 2022 - (ACN Newswire) - Crypto marketing agency Crypto-Upvotes is starting to conquer the Asian market by offering advertisements for crypto projects on billboards in Greater China region. The company will also offer promotions on local social networks such as Wechat & Tiktok. The company is expected to offer similar services in Japan and Korea in a month after the full launch in Greater China.

"The popularity of cryptocurrencies in Greater China region is growing every day, and the Asian market has not yet reached its potential. Cryptocurrencies in this region are only at the stage of development and implementation into normal life", says Crypto-Upvotes CEO Daniel Lazovsky.

The decision to expand into the Asian market was made after the successful expansion of Western markets. Until 2022, the company was engaged in advertising and promotion in the United States and Europe. In particular, at the end of last summer Crypto-Upvotes started advertising cryptocurrency projects on billboards across the United States. The first billboards appeared in downtown New York City. To date, the company offers placement on more than 300,000 billboards across the U.S.

"We're taking a really innovative approach", claims Daniel Lazovsky. "While the overwhelming majority of the advertising for cryptocurrency projects is online, we offer offline promotion. It may sound clumsy, but it works!" According to the CEO, this approach provides a comprehensive promotion. A person sees an advertisement for a cryptocurrency project online, then gets behind the wheel - and observes it on a billboard.

Billboard advertisements are a very popular form of advertising in Greater China region. Therefore, in all major cities, billboards can be seen literally on the walls of every house. The marketing team assumes that such a way of advertising cryptocurrency projects will fit organically into the overall picture of the local advertising market and bring the expected effect.

As for online activities, the company pays special attention to WeChat, the main communication software used by local Internet users. It is the local equivalent of WhatsApp. WeChat is known for having various groups about cryptocurrencies. The company will leverage this opportunity by creating new groups for its customers.

Also, many people in Greater China region like to use Tiktok, which is equivalent to YouTube in other countries. There are many Internet celebrities on Tiktok. The marketing team is considering involving different well-known personalities to create influencer marketing campaigns for its customers.

Crypto-Upvotes have been in the cryptocurrency world since 2014. In addition to billboard advertising spots, it offers crypto copywriting services, placing a crypto project on CoinMarketCap, CoinGecko, and other services to extend cryptocurrency business globally. It has contracts with major advertising agencies in the USA and Europe. In a month, Crypto-Upvotes is planning to enter the media markets of Japan and Korea to provide comprehensive solutions to promote various crypto projects.

Social Links
Website: https://Crypto-Upvotes.com
TG: https://t.me/marketing_crypto
Twitter: https://twitter.com/crypto_upvotes
Instagram: https://www.instagram.com/crypto_upvotes

Media contacts
Crypto Marketing Agency Crypto-Upvotes
Daniel Lazovsky, CEO
founder@Crypto-Upvotes.com

SOURCE: Crypto-Upvotes

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comCrypto marketing agency Crypto-Upvotes is starting to conquer the Asian market by offering advertisements for crypto projects on billboards in Greater China region. The company will also offer promotions on local social networks such as Wechat & Tiktok. The company is expected to offer similar services in Japan and Korea in a month after the full launch in Greater China.

Manicouagan Critical Metals Drilling Update: High-Grade Rhodium

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MONTREAL, QUEBEC, Apr 7, 2022 - (ACN Newswire) - St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to release the additional partial results of its 2021 drilling campaign on its 100% own Manicouagan Project.

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Table 1 - Assay results for a 2-meter section of 2021-Hole 18

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Table 2 - Representative samples collected from the 1,070kg bulk sample

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Map 1 - Location of hole 21-18 in relation to 2021 bulk sampling and two historical holes nearby

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Table 3 - Results for the eight samples submitted for secondary assay

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The drill cores sampled return results up to 0.84 g/t of rhodium, 1.3 g/t ruthenium, 0.16 g/t osmium and 0.3 g/t iridium over 0.5 meters.

Eight separate samples were selected for re-assay for all Platinum Group Elements (PGE) from hole 21-18. The additional average results over the 2-meter zone previously released on March 25, 2022 (from 47.5 meters to 49.5 meters) include 0.55 g/t rhodium, 1.087 g/t ruthenium, 0.214 g/t iridium and 0.11 g/t osmium. The Company believes these are significant credits to the reported 2-meter section intersected in hole 2021-18. These results coincide with the random samples collected from the bulk sampling and attests to the vertical extent of nickel-copper-cobalt and PGE's present in this system. Therefore, the Company intends to accelerate its metallurgical sampling program to determine the viability of economically separating and recovering the various suites of minerals identified in the Manicouagan massive sulfide discovery.

The samples were shipped from Val D'or ALS Laboratories to Bureau Veritas for a complete suite of assays. The eight samples were selected from the better values reported previously from ALS and reported in the Company's last press release on March 24, 2022 (Discovery of High-Grade Nickel & Palladium Corridor Confirmed). Therefore, the samples are not sequential throughout the previous reference to 6.5 meters but are sequential through the 2-meter section previously announced. The Best 2-meter results for platinum and palladium are reported in a side-by-side comparison in Table 1, along with additional results for iridium, osmium, rhodium and ruthenium.

Table 1 - Assay results for a 2-meter section of 2021-Hole 18
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-1.jpg

Comparatively, assay results for platinum and palladium were similar in nature. Several of the higher-grade samples for platinum and palladium showed decreases from the previous 2-meter results reported in the last press release. This reduced the platinum values by 8% and the palladium values by 18%, as shown in Table 1 above. These variations may be attributable to either or both of the different processes used to establish the assay values and/or the inconsistencies of mineral content in the sample. In fact, the highest iron content (massive sulfides +25% to >50%) is present within this 2-meter zone and may have contributed to any processing issues present.

Table 2 is a reminder of the representative samples collected from the 1,070 kg bulk sample. These values confirm the association and relative consistencies of PGE minerals at surface and at depth.

Table 2 - Representative samples collected from the 1,070kg bulk sample
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-2.jpg

Hole 21-18 was drilled to the southeast of the historical Bob Showing, where a 1,070 kg bulk sample was collected this year (See St-Georges Press Release from February 10, 2022: https://bit.ly/3KdbXNI

The map below (Map 1.) shows the location of the hole 21-18 in relation to the bulk sample and two historical holes, 07-17 and 08-02. Two minor faults are reported in the vicinity of these holes.

Map 1 - Location of hole 21-18 in relation to 2021 bulk sampling and two historical holes nearby.
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-3.jpg

Table 3 provides the entire results for the eight samples submitted for secondary assay of the suite of PGEs.

Table 3 - Results for the eight samples submitted for secondary assay
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-4.jpg

The Company has a large quantity of samples in the process of being assayed by its independent labs. St-Georges' contracted geologists are still hard at work processing the last batch of core that came out of the Manicouagan Project's camp earlier this month. Assays results will be disclosed as they become available.

Because of the high-grade assays returned and the identification of a mineralized trend or corridor, the Company expanded its claim position in the area to maintain its competitive advantage. This year, the Company expects to conduct a cursory exploration program on the new land acquisition with some geophysics, geologic mapping, and geochemical sampling of surface outcrops.

"We believe we are refining our knowledge of structure and mineralization at our Manicouagan project. Previously overlooked and, in some cases, unknown mineralization and trace element geochemistry provide additional targets that both extend the known areas and provide additional targets that remain untested. This particularly involves the distribution of PGEs. Hole 21-18 provided a 2-meter-thick zone that, when you add all of the metals together, gives us 7% nickel equivalent. Historic holes intersected narrow zones (0.22m) that had a combined value of over 12.5% nickel equivalent at today's quoted prices.

"Palladium, rhodium, ruthenium, and platinum are significantly enriched in areas where higher-grade nickel-cobalt-copper sulfides exist. Historically, these minerals were overlooked or, at best, cursorily sampled for all PGEs. Even so, the results from historic drilling include values to 1.73 g/t rhodium and 2.7 g/t ruthenium. More importantly, for our future exploration programs, we find that the various PGEs do not go hand-in-hand but can exist separately and more widely spread from the highest concentrations of base metals. This means higher grades of rhodium and other PGEs may exist within the 16 historic holes that encountered 0.7-to-7-meter widths of high-grade nickel-copper-cobalt within the Bob and Bob East zones. This is also true for elsewhere on this large property position.

"We hope to benefit from this knowledge, especially in the case of the platinum-palladium-rhodium (PGE) mineralization which appears to have been under-explored in this region. St-Georges hopes to take this knowledge to the next level by also utilizing the new pathfinder elements developed during the 2021 drill program," commented Herb Duerr, CEO & President of St Georges Eco-Mining.

About Rhodium Metal

Rhodium is one of the rarest and most valuable precious metals in the world, currently valued at US$19,000 per ounce or $610 per gram. It is only found in platinum or nickel ores that tend to run with the other members of the platinum group metals. Currently, South Africa produces roughly 80% of the global supply, while Russia and North America account for the bulk of the remaining 20%.

The global market for rhodium is around 1.2 million ounces and with supply running a multi-year deficit, the value of the metal has grown steadily since 2017. The reason for this being that rhodium is only produced as a co- or by-product with average grades of up to .5 g/t. In fact, many producers of rhodium today are operating at much lower grades, making St-Georges' discovery very significant in terms of grades being reported.

ON BEHALF OF THE BOARD OF DIRECTORS
"Herb Duerr"
HERB DUERR
President & CEO

About St-Georges Eco-Mining Corp.

St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on Quebec's North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.

The Canadian Securities Exchange(CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

CONTACT:
Regulatory & Medias Only
Frank Dumas, COO.
+1.514.295.9878
public@stgeorgesecomining.com

SOURCE: St-Georges Eco-Mining Corp.

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSt-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to release the additional partial results of its 2021 drilling campaign on its 100% own Manicouagan Project.
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Official Listing of Recbio on HKEX, Vaccine Innovation and Iteration Accelerated by Novel Adjuvant Technology

HONG KONG, Apr 1, 2022 - (ACN Newswire) - On March 31, the China-based novel vaccines company - Jiangsu Recbio Technology Co., Ltd. ("Recbio" or the "Company", Stock Code: 2179.HK) went public and was officially listed on the Hong Kong Stock Exchange. Assuming the Over-allotment option is not exercised, 30,854,500 H shares were issued under the Global Offering, with a price of HK$24.80 per share and proceeds up to approximately HK$765 million. The Hong Kong public Offering received an enthusiastic response from investors and was over-subscribed by more than 9.65 times. As the cornerstone investors of the Company, the cornerstone subscription ratios of Yangtze River Pharmaceutical, Harvest Global and Sequoia China exceed 50%. Previously, the Company has won the favor of many well-known investment institutions, including Legend Capital, LYFE Capital, Oriental Fortune Capital, Fer-Capital, Sequoia China, CMB International, Lake Bleu and Temasek. Having successfully listed in Hong Kong, becoming "the first HPV vaccine stock in Hong Kong" and "the first novel adjuvant vaccine stock in Hong Kong", Recbio is expected to inject new vitality into the capital market in Hong Kong.

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Chart: Innovative vaccine portfolio of Recbio

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Domestic vaccine innovation and iteration accelerated by novel adjuvant technology

Vaccines are praised as the "golden track" in the medical health field. According to the Frost & Sullivan report, from 2016 to 2020, the size of the global vaccine market has increased from US$27.5 million to US$39.9 billion at a CAGR of 9.7%, while the CAGR of global pharmaceutical market was only 3.02%. China has become the second largest vaccine market globally, with the market volume increased from RMB27.1 billion in 2016 to RMB75.3 billion in 2020 at a CAGR of 29.1%.

Regarding the insufficient domestic supply of and the unmet urgent demand for novel vaccines, it has become an important part of the Development Planning of the Pharmaceutical Industry in the "14th Five-Year Plan" in China (referred as the "Plan") to promote enterprises to speed up the development of related products and to achieve product availability as soon as possible. Regarding the development of the vaccine industry, the "Plan" also states that research and development of novel vaccines (such as novel adjuvants for vaccines and mRNA vaccines) and building of industrialization capability shall be accelerated. It also emphasizes on the development of novel COVID-19 vaccines, herpes vaccines, polyvalent human papillomavirus (HPV) vaccines and other products.

As an innovative novel vaccine company, Recbio has constructed the three core technology platforms consisting of novel adjuvants, protein engineering and immunological evaluation, forming synergy in antigen design and optimization, adjuvant development and production, identification of the best combination of antigen and adjuvants. The Company has built a comprehensive and high-valued vaccine portfolio consisting of 12 candidates, covering cervical cancer, COVID-19, adult tuberculosis, shingles, HFMD, influenza etc. It covers five of the ten diseases with the greatest burden under the 2019 Global Burden of Diseases issued by the World Health Organization and disease areas of the three of the top five globally bestselling vaccine products in 2020.

Novel adjuvant for vaccines is the "bottleneck" technology of innovative vaccines. Through years of technical research, Recbio has successfully achieved independent control of all FDA-approved novel adjuvants, and is one of the few companies in the world capable of independent development of novel adjuvants. It has also successfully applied in various innovative vaccines such as COVID-19 vaccines, HPV vaccines and shingles vaccines.

A moat constructed with a rich product portfolio

HPV vaccines are one of the most commercially valuable vaccines in the world. It is expected that there will be 234 million females in China aged 9-45 unvaccinated for HPV in 2025 assuming 3 doses per person, requiring additional 702 million doses. Currently, Recbio has formed a full coverage of bivalent, quadrivalent and 9-valent vaccines and novel adjuvant upgrades in the field of HPV vaccines. The core product REC603, a recombinant HPV 9-valent vaccine is currently under phase III clinical trial, expected to become the first approved domestic HPV 9-valent vaccine. Regarding the global immunization program market, REC601, a bivalent vaccine has the potential to become one of the most popular vaccine options. At the same time, the Company is also in the process of developing second-generation HPV vaccines, namely REC604a (a quadrivalent vaccine) and REC604b (a 9-valent vaccine). Both vaccines have adopted our self-developed novel adjuvants and are expected to achieve two-shot regimens in the future. The construction of the first phase of the HPV manufacturing facility of Recbio is expected to be completed by the end of this year. By then, it will realize the designed capacity of five million doses of HPV 9-valent vaccines or 30 million doses of HPV bivalent vaccines per year. As the first cancer preventive vaccine in the world, HPV vaccines have been in shortage for a long time. With the gradual release of domestic HPV vaccines in the future and the gradual release of production capacity, domestic substitution will be accelerated.

Protein engineering, novel adjuvant and other technology are comprehensively used in ReCOV, the COVID-19 vaccine of Recbio, to thoroughly optimize the vaccine, allowing ReCOV to possess a series of comprehensive advantages, including excellent safety, strong immunogenicity, strong cross-protection effectiveness with Omicron and Delta mutant strains, easy-to-scale-up production, low production cost, high preparation stability, storage and transportation in room temperature etc. The international phase II/III clinical trials of such vaccine are currently in progress. EUA/BLA applications are estimated to be submitted in 2022. On the side of production supply, the Company has completed the construction of our GMP-standard manufacturing facility for ReCOV and obtained the drug production license in November 2021. The manufacturing facility has a total GFA of approximately 17,000 sq.m., has the potential to support an annual manufacturing capacity of 300 million doses of ReCOV and can be used to manufacture recombinant shingles vaccines.

In the field of shingles vaccines, shingles virus is dormant in almost all adults over 50 of age in China, affecting approximately 2.5 million adults in China every year. However, Shingrix is currently the only shingles vaccine approved in China. The novel adjuvant which benchmarking AS01 is adopted in REC610 of the Company, significantly improving vaccine immunogenicity, hoping to achieve domestic substitution quickly.

Recogen, our subsidiary has first achieved technology breakthrough in lyophilized mRNA vaccines. It has applied the self-developed freeze-drying technology to achieve preparation stability at 4 degrees Celsius and 25 degrees Celsius, allowing storage and transportation under general cold-chain conditions, effectively solving the current defect in availability of mRNA vaccines.

"We are glad that the Hong Kong stock IPO has been highly recognized by the capital market. The successful listing of Recbio is expected to bring more confidence to the Hong Kong 18A stock market. Thanks to all the investors for their strong support, we were able to successfully go public as originally planned in such extremely depressed environment of the Hong Kong capital market!" Regarding the listing of Recbio in Hong Kong, Dr. Liu Yong, the Founder, Chairman of the Board, and General Manager of Recbio stated that, "Against the backdrop of a huge global demand for innovative vaccines in this era, through continuous innovation and international cooperation, we will accelerate the commercialization of products in the global market, promote innovation in the entire value chain of the vaccine industry from R&D to commercialization, and create greater value for shareholders and investors. Today is the beginning of a brand-new journey for Recbio. I hope that all investors will continue to support our Company. Let's hope we will continue to move forward hand in hand, through the sweltering summer and winter, and create new glory together!"

About Recbio
Founded in 2012, Recbio is an innovative vaccine company with independent research and development technology as its core driving force. It is committed to building a full value chain of innovative vaccines, covering research and development, production and commercialization. The Company has always adhered to the mission of "creating first-class vaccines and protecting human health". With a strong research and development engine comprising of novel adjuvants, protein engineering, immunological evaluation and other core technology platforms, strategically focusing on disease areas with significant burden such as cervical cancers COVID-19, shingles, adult TB, HFMD and flu etc., the Company has established a high-value product pipeline consisting of 12 vaccine candidates with independent intellectual property rights, in order to meet the under-fulfilled public health needs. For more information, please visit https://www.recbio.cn/.


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comOn March 31, the China-based novel vaccines company - Jiangsu Recbio Technology Co., Ltd. ("Recbio" or the "Company", Stock Code: 2179.HK) went public and was officially listed on the Hong Kong Stock Exchange.

Dynasty Fine Wines 2021 Revenue Rises Notably by 28% to HKD306 Million Due to Successful “5+4+N” Product Strategy

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HONG KONG, Mar 29, 2022 - (ACN Newswire) - Dynasty Fine Wines Group Limited ("Dynasty" or "the Group") (Stock Code: 828), a premier grape winemaker in China, today announced its audited annual results for the year ended 31 December 2021. Revenue in 2021 increased by 28% year-on-year to HK$306 million. Gross profit rose by 103% year-on-year to HK$121.9 million. Gross profit margin increased significantly from 25% in 2020 to 40% in 2021. Profit attributable to owners of the Company was HK$32.8 million in 2021, a decrease when compared with HK$116.4 million in 2020. The decline was due to a net gain (after tax) of HK$183.7 million from a disposal, which was a one-off transaction, recorded in 2020. If the net gain of the one-off disposal in 2020 was excluded, profit attributable to owners of the Company would have increased significantly in 2021 versus the preceding year.

In 2021, the revenue of wine products grew, mainly due to a marked increase in sales volume of products, especially middle to high-end wine products, after optimization of the Group's product mix, as well as the increase in market price of certain upgraded and custom-made products during the year. In the second half of 2021, the occurrences of flooding and heavy rain and sporadic COVID-19 cases in certain regions of China adversely affected consumer sentiment. Consequently, the Group's revenue growth for the full 2021 financial year slowed relative to the first half year.

The total number of bottles of wine sold in 2021 was approximately 11.9 million, an increase of 20% as compared with 9.9 million bottles in 2020. Red wines continued to be the Group's primary revenue contributor, accounting for approximately 51% of the Group's revenue for the year (2020: 65%). White wine sales became the growth driver of the Group, which surged by approximately 60% year-on-year and accounted for 40% of the Group' revenue. In 2021, the gross margin of red wine products and white wine products were 37% and 47%, respectively (2020: 24% and 31%, respectively).

The Group produced a wide range of more than 100 wine products under the "Dynasty" brand. This has enabled it to meet the demands and preferences of different consumer groups, mainly in the mass segment of the Chinese wine market. During the year, the Group launched a new premium product, Dynasty Chinese Zodiac Commemorative Dry Red Wine, for the Xin Chou Year of the Ox, integrating high quality with the Chinese zodiac culture. The Group also unveiled two new product series, namely "Sweet Heart" and "Pleasant Color", for the entry-level product segment. The product series are targeted at young consumers and will open a new chapter as part of the Group's product rejuvenation strategy.

The Group also sold foreign branded wines during the year. Imported mainly from France, Italy, Australia, Chile and the United States, the wines enter the Chinese market through the Group's existing distribution network. Having streamlined its portfolio, the Group currently sells about 50 imported grape wine products under approximately 10 brands.

During the year, the Group strengthened cooperation with distributors to operate online stores on such e-commerce platforms as JD.com, Tmall and Pinduoduo. Moreover, innovations were achieved across its brands and product categories, as well as business systems, procedures and models via new retail platforms including Weibo, RED (Xiaohongshu app), Kuai (Kuaishou app) and TikTok (Douyin app). The Group also established an e-commerce team and actively cultivated e-commerce live broadcasting talent to further expand its sales channels and build up a new customer base.

In October 2021, Dynasty held a grand opening ceremony in the new premises of its National-level Technology Center. The work station in the Center has commenced research for the first time on the selection of distinctive muscat yeast in order to create more mellow and enjoyable wines. Also, Dynasty Technology Center established a winemaking and wine tasting studio during the year.

In 2021, Dynasty continued to implement its market demand-oriented "5+4+N" product strategy, and completed the enhancement of the Group's organization structure. In the Group's strategy, "5" represents the five key series of products, comprising air dry series, seven-year reserve series, merlot series, classic series and best-selling series, and represents the goal of having full coverage of all mainstream price segments; "4" refers to the four advantageous categories, i.e. dry red wines, dry white wines, brandy and sparkling wines, and the aim of increasing the Group's vertical market share; and "N" stands for the development of "N" kinds of customized products to meet the diversified needs of Chinese consumers. In 2021, the Group achieved remarkable results from the adjustment of its products, sales channels and marketing campaigns.

With respect to its large-scale marketing campaign, the Group forged ahead with various endeavors, including showcasing products in 20,000 shops, hosting 1,000 wine tasting events and organizing 100 plant visits, so as to continue developing its point-of-sale network.

In the coming three years, the Group will strive to deploy 100,000 points of sale, add 1,000 distributors, and vigorously develop new channels via retail platforms. This will enable the Group to seize opportunities from the growing consumption market driven by young adults, and achieve the annual sales target of over RMB1 billion.

Mr. Wan Shoupeng, Chairman of Dynasty, said, "The Group is pleased that the "5+4+N" strategy has been effective in boosting product sales in 2021, which in turn has facilitated overall revenue growth. In the future, the Group will increase its investment in brand development in order to fully vitalize its brands as well as drive development of its major products. The latter will involve steadily enhancing quality and controlling prices to boost sales volume, with the aim of bringing Dynasty's superior wines to more consumers in China. Furthermore, in line with the industry development trend, Dynasty will strengthen its presence in the mass-market and mid-range product segments as well as target young consumers. In spite of the possible impact brought by sporadic COVID-19 cases in China, the Group is confident that its annual revenue will maintain a steady growth trend in 2022."


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comDynasty Fine Wines Group Limited ("Dynasty" or "the Group") (Stock Code: 828), a premier grape winemaker in China, today announced its audited annual results for the year ended 31 December 2021. Revenue in 2021 increased by 28% year-on-year to HK$306 million.

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Continued Growth Under the Pandemic, Huisen Household Profit Increased by Over 60%

HONG KONG, Mar 26, 2022 - (ACN Newswire) - China's major furniture product manufacturer Huisen Household International Group Ltd. ("Huisen Household" or "the Group"; stock code: 2127.HK) announced audited annual results for the year ended 31 December 2021 ("the review period") today.

During the review period, the revenue of the Group was RMB5,139 million representing an increase of approximately 31.9% as compared to the same period of 2020. The profit for the year was approximately RMB888 million, representing an increase of approximately 64.2% as compared to the same period of 2020, mainly due to the growth in sales driven by the increase in purchase orders and the increase in gross profit of approximately RMB355 million. Basic and diluted earnings per share of the Company was RMB0.29 for 2021 and RMB0.24 for FY2020.

Mr. Zengming, chairman and executive director said: "Although China and the world's major economies, including developed countries such as Europe and the United States, were recovering gradually, the mutation of the COVID-19 has led to the recurrence of the pandemic and some parts of the world are still plagued by the pandemic, resulting in the closure or interruption of factory production. With the successful achievements in the prevention of pandemic in China, resumption of work and production were successfully sped up in various industries, which led the products manufactured in China to become more popular around the world. With the quantitative easing monetary policy of Europe and the United States, the real estate market of the developed economies, especially the United States, was thriving, which led to a surging growth of the furniture industry. China's furniture exporters further attracted orders from countries around the world, ushering in an opportunity for a rapid growth."

During the review period, the Group has been constantly uncovering the potential of our existing factories to raise the utilisation rate of our production capacity without relaxing the preventive measures adopted for the pandemic and continue to put effort to safeguard the lives and safety of our staff; on the other hand, the Group also accelerated the implementation of fundraising and investment projects. Although the Group was still affected by the outbreak of COVID-19 pandemic in some provinces of China from time to time, various fundraising and investment projects still made a good start. The Group achieved significant growth in both production and sales in 2021.

Panel-type Furniture
The Group's panel-type furniture products include television cabinets, bookshelves, shelves, desks, and coffee tables. Panel-type furniture has always been the core revenue driver of the Group. During the review period, the revenue of panel-type furniture increased by 33.9%. The gross profit margin of panel-type furniture recorded a slight increment due to the higher gross profit margins from some of our newly launched products, as well as the increase in average selling prices for some of our existing products, which partially offset the impact of the depreciation of the U.S. dollar against the Renminbi ("RMB").

Upholstered Furniture
Leveraging on our expertise and experience on product design and development as well as our business relationships with major overseas retail chains and furniture traders, we further expanded of its product offering in upholstered furniture to explore new markets. The Group's upholstered furniture mainly includes sofas. During REVIEW PERIOD, the revenue of upholstered furniture increased by 19.4%. The gross profit margins for both FY2020 and the review period remained relatively stable, certain products with high gross profit margin recorded higher sales.

Outdoor/Sport-type Furniture
This includes outdoor recreational furniture, sports and recreational equipment. Sports and recreational equipment mainly include table tennis tables and pool tables. During the review period, the revenue from sport-type furniture amounted to approximately RMB154 million, representing a decrease of approximately 3.1% from FY2020. The gross profit margin increased from approximately 28.0% for FY2020 to 29.3% for the review period, which was mainly due to the increase in the average selling prices of certain products and cessation of production and selling of outdoor recreation furniture with low gross profit margin in the review period.

Revenue generated from sales to the United States is still the most significant among all the geographical locations. The revenue derived from the sales of furniture product with the United States as the delivery destination increased by 32.3% during the review period compared to FY2020 and the sales ratio to our total revenue increased from 67.1% for FY2020 to 67.3% for the review period, representing an increase of 0.2%, which was mainly due to the increase in furniture demand driven by the growth in the real estate market in the United States. Sales in China increased by 13.8%, which was mainly due to the policy adopted by the Group for the expansion of sales to mainland China customers during the review period. The revenue generated from sales to Malaysia, Vietnam, and Canada as delivery destination also achieved higher growth during FY2021 as compared to FY2020, mainly due to the Group's efforts to expand sales outside the United States.

A stable and long-term business relationship is fundamental to the Group's success. The Group has strategically prioritised orders placed by the major customers. The Group has maintained a long-term relationship with each of top five customers in particular, the Group has established a direct and stable long-term business relationship with Walmart Group since 2012. As a result, the sales of the top 5 customers during the review period have recorded an increase of approximately 33.4% compared to FY2020, and the revenue from the top five customers of the Group accounted for approximately 86.8% of the total revenue for the review period, representing an increase of approximately 0.9% from approximately 85.9% for FY2020.

The Group always attaches great importance to the improvement of independent research and development capabilities and continues to expand its sales in ODM to increase the dependence of our customers and the competitiveness of the Group. As for the OEM, we strictly follow the specifications and requirements provided by our customers. During the review period, sales from ODM increased by approximately 35.9% compared to FY2020 and accounted for approximately 82.5% of the total revenue with an increase of approximately 2.5% from FY2020. The remaining were arisen from OEM business with an increase of approximately 15.4% while its proportion accounted for the total revenue decreased to approximately 17.5% compared to FY2020.

For the expansion of the smart furniture business. On 16 June 2021, the Group has entered into a strategic cooperation agreement with Jiangxi University of Science and Technology to further enhance the cooperation in relation to the research and development of smart furniture, including but not limited to professional and technical personnel training provided by Jiangxi University to the staff of the Group and the establishment of the Smart Furniture Research Institute to focus on the research and development of smart furniture and prefabricated decoration.

Looking ahead, with the gradual increase in vaccination rate against COVID-19 in various countries and the accumulation of experience in the prevention and control of the pandemic, coupled with the development of the economic level of different countries and the improvement of disposable income per capita and living conditions, the willingness to consume furniture will continue to grow. Specifically, there is a stable demand for furniture from the developed countries and regions, such as Europe, America, Japan and South Korea, as their degree of urbanisation is high, the consumption power of their resident is strong, leading to a higher living standard from these end customers and a huge demand for renovation of obsoleted homes and furniture for rental home; for countries with an emerging market, the demand for furniture is increasing with the expansion of housing demand due to the advancing progress of urbanisation and the increase in the size of the urban population.

About Huisen Household International Group Limited

We are a manufacturer of furniture products in the PRC with a primary focus on the manufacture and sales of panel furniture by way of ODM. Over 80 % of our revenue from our furniture products was generated from our ODM business and the remaining was generated from our OEM business. All of the products we produced for sales were not under our own brands. Our vertically integrated business model allows us to combine our in-house product design and development expertise with our integrated manufacturing platform, providing full range services covering product design and development, manufacture and sales of panel furniture, and securing stable supply of our principal production materials, i.e., particleboards and steel tubes by manufacturing them on our own.



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comChina's major furniture product manufacturer Huisen Household International Group Ltd. ("Huisen Household" or "the Group"; stock code: 2127.HK) announced audited annual results for the year ended 31 December 2021 ("the review period") today.

Continued Growth Under the Pandemic, Huisen Household Profit Increased by Over 60%

HONG KONG, Mar 26, 2022 - (ACN Newswire) - China's major furniture product manufacturer Huisen Household International Group Ltd. ("Huisen Household" or "the Group"; stock code: 2127.HK) announced audited annual results for the year ended 31 December 2021 ("the review period") today.

During the review period, the revenue of the Group was RMB5,139 million representing an increase of approximately 31.9% as compared to the same period of 2020. The profit for the year was approximately RMB888 million, representing an increase of approximately 64.2% as compared to the same period of 2020, mainly due to the growth in sales driven by the increase in purchase orders and the increase in gross profit of approximately RMB355 million. Basic and diluted earnings per share of the Company was RMB0.29 for 2021 and RMB0.24 for FY2020.

Mr. Zengming, chairman and executive director said: "Although China and the world's major economies, including developed countries such as Europe and the United States, were recovering gradually, the mutation of the COVID-19 has led to the recurrence of the pandemic and some parts of the world are still plagued by the pandemic, resulting in the closure or interruption of factory production. With the successful achievements in the prevention of pandemic in China, resumption of work and production were successfully sped up in various industries, which led the products manufactured in China to become more popular around the world. With the quantitative easing monetary policy of Europe and the United States, the real estate market of the developed economies, especially the United States, was thriving, which led to a surging growth of the furniture industry. China's furniture exporters further attracted orders from countries around the world, ushering in an opportunity for a rapid growth."

During the review period, the Group has been constantly uncovering the potential of our existing factories to raise the utilisation rate of our production capacity without relaxing the preventive measures adopted for the pandemic and continue to put effort to safeguard the lives and safety of our staff; on the other hand, the Group also accelerated the implementation of fundraising and investment projects. Although the Group was still affected by the outbreak of COVID-19 pandemic in some provinces of China from time to time, various fundraising and investment projects still made a good start. The Group achieved significant growth in both production and sales in 2021.

Panel-type Furniture
The Group's panel-type furniture products include television cabinets, bookshelves, shelves, desks, and coffee tables. Panel-type furniture has always been the core revenue driver of the Group. During the review period, the revenue of panel-type furniture increased by 33.9%. The gross profit margin of panel-type furniture recorded a slight increment due to the higher gross profit margins from some of our newly launched products, as well as the increase in average selling prices for some of our existing products, which partially offset the impact of the depreciation of the U.S. dollar against the Renminbi ("RMB").

Upholstered Furniture
Leveraging on our expertise and experience on product design and development as well as our business relationships with major overseas retail chains and furniture traders, we further expanded of its product offering in upholstered furniture to explore new markets. The Group's upholstered furniture mainly includes sofas. During REVIEW PERIOD, the revenue of upholstered furniture increased by 19.4%. The gross profit margins for both FY2020 and the review period remained relatively stable, certain products with high gross profit margin recorded higher sales.

Outdoor/Sport-type Furniture
This includes outdoor recreational furniture, sports and recreational equipment. Sports and recreational equipment mainly include table tennis tables and pool tables. During the review period, the revenue from sport-type furniture amounted to approximately RMB154 million, representing a decrease of approximately 3.1% from FY2020. The gross profit margin increased from approximately 28.0% for FY2020 to 29.3% for the review period, which was mainly due to the increase in the average selling prices of certain products and cessation of production and selling of outdoor recreation furniture with low gross profit margin in the review period.

Revenue generated from sales to the United States is still the most significant among all the geographical locations. The revenue derived from the sales of furniture product with the United States as the delivery destination increased by 32.3% during the review period compared to FY2020 and the sales ratio to our total revenue increased from 67.1% for FY2020 to 67.3% for the review period, representing an increase of 0.2%, which was mainly due to the increase in furniture demand driven by the growth in the real estate market in the United States. Sales in China increased by 13.8%, which was mainly due to the policy adopted by the Group for the expansion of sales to mainland China customers during the review period. The revenue generated from sales to Malaysia, Vietnam, and Canada as delivery destination also achieved higher growth during FY2021 as compared to FY2020, mainly due to the Group's efforts to expand sales outside the United States.

A stable and long-term business relationship is fundamental to the Group's success. The Group has strategically prioritised orders placed by the major customers. The Group has maintained a long-term relationship with each of top five customers in particular, the Group has established a direct and stable long-term business relationship with Walmart Group since 2012. As a result, the sales of the top 5 customers during the review period have recorded an increase of approximately 33.4% compared to FY2020, and the revenue from the top five customers of the Group accounted for approximately 86.8% of the total revenue for the review period, representing an increase of approximately 0.9% from approximately 85.9% for FY2020.

The Group always attaches great importance to the improvement of independent research and development capabilities and continues to expand its sales in ODM to increase the dependence of our customers and the competitiveness of the Group. As for the OEM, we strictly follow the specifications and requirements provided by our customers. During the review period, sales from ODM increased by approximately 35.9% compared to FY2020 and accounted for approximately 82.5% of the total revenue with an increase of approximately 2.5% from FY2020. The remaining were arisen from OEM business with an increase of approximately 15.4% while its proportion accounted for the total revenue decreased to approximately 17.5% compared to FY2020.

For the expansion of the smart furniture business. On 16 June 2021, the Group has entered into a strategic cooperation agreement with Jiangxi University of Science and Technology to further enhance the cooperation in relation to the research and development of smart furniture, including but not limited to professional and technical personnel training provided by Jiangxi University to the staff of the Group and the establishment of the Smart Furniture Research Institute to focus on the research and development of smart furniture and prefabricated decoration.

Looking ahead, with the gradual increase in vaccination rate against COVID-19 in various countries and the accumulation of experience in the prevention and control of the pandemic, coupled with the development of the economic level of different countries and the improvement of disposable income per capita and living conditions, the willingness to consume furniture will continue to grow. Specifically, there is a stable demand for furniture from the developed countries and regions, such as Europe, America, Japan and South Korea, as their degree of urbanisation is high, the consumption power of their resident is strong, leading to a higher living standard from these end customers and a huge demand for renovation of obsoleted homes and furniture for rental home; for countries with an emerging market, the demand for furniture is increasing with the expansion of housing demand due to the advancing progress of urbanisation and the increase in the size of the urban population.

About Huisen Household International Group Limited

We are a manufacturer of furniture products in the PRC with a primary focus on the manufacture and sales of panel furniture by way of ODM. Over 80 % of our revenue from our furniture products was generated from our ODM business and the remaining was generated from our OEM business. All of the products we produced for sales were not under our own brands. Our vertically integrated business model allows us to combine our in-house product design and development expertise with our integrated manufacturing platform, providing full range services covering product design and development, manufacture and sales of panel furniture, and securing stable supply of our principal production materials, i.e., particleboards and steel tubes by manufacturing them on our own.



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comChina's major furniture product manufacturer Huisen Household International Group Ltd. ("Huisen Household" or "the Group"; stock code: 2127.HK) announced audited annual results for the year ended 31 December 2021 ("the review period") today.
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