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Tag: segment

How Big is the BLOCKCHAIN Market?

Increasing adoption of cryptocurrency across the globe is driving blockchain market revenue growth The Blockchain Market size is expected to reach USD 173.78 Billion in 2028 and register a revenue CAGR of 64.3% over the forecast period, according to the latest report by Reports and Data. The surge in data and identity theft activities is driving blockchain […]

The post How Big is the BLOCKCHAIN Market? appeared first on PrimaFelicitas.

Why The U.S. Will Likely Be One Of The Most Friendly Jurisdictions For Bitcoin

One-third of Americans could own bitcoin by the end of 2022. The U.S. government will want to appease this voting bloc with favorable policies toward bitcoin.

e-DAO Spearheads Media & Entertainment Web3 Revolution: Hungama Entertainment and Hindustan Talkies become anchor partners

Indian entertainment behemoth Hungama Digital Media has come together to create Hefty Entertainment, a metaverse platform, the first project under e-DAO. e-DAO (Entertainment- DAO) powered by Polygon is an entertainment and creator economy focussed DAO, designed to create the world's largest entertainment collective. It provides a thriving ecosystem of developers, community, to build & launch NFT projects for production houses, celebrities, music labels, content creators etc. Powering the community through votes, this futuristic platform provides an avenue for the democratization of content by raising opinions.  

The Hefty metaverse will serve as a way to onboard consumers, fans, and communities into the world of web3 through NFT collectibles and free virtual events, which will be powered by unique utilities and value. The metaverse will bank on Hungama Digital Media with its vast and extensive distribution network.

Hefty Entertainment has announced its arrival with an exclusive partnership with T-series, Asia's largest music label, publisher and India's largest film studio to announce its foray into Non-Fungible Tokens (NFTs). Hefty Arts has done the same with an exclusive partnership with the MF Husain Estate to auction the legendary artist's paintings as NFTs. Hefty Games, on the other hand, will soon announce and share more details on their launch & partnerships with some of the biggest names in the world of ESports and Gaming.

eDAO will support Hefty Entertainment during their initial funding and provide incubation support. Their team will also have access to the eDAO's strong community of NFT and metaverse enthusiasts. Community-building support will also be provided along with DApp tooling, marketplaces, design, and development.

eDAO is an ideal platform for projects venturing into Web3 belonging to the media & entertainment space including movies & music, sports, design & animation studios, VR / AR projects, and NFT utility platforms. Being industry first, we have a thriving ecosystem of partners to create NFT marketplaces, setting up domains, web designing, live streaming etc. 

Polygon and Polygon Studios ecosystem has seen massive adoption and growth with over 7000 DApps being built especially in the NFT space having more than 1 million community members. Partnering with eDAO was very strategic in nature addressing a multi-billion dollar market in India, providing infrastructure support to Web3 projects in media & entertainment, and sports segment. 

About eDAO          

eDao is an entertainment and creator economy focused DAO designed to bring the Media, Entertainment, Fine Art and Gaming industry to the world of Web3 and create the world's largest entertainment collective. Built in collaboration with Polygon Studios and genesis partners like Hungama and Hindustan Talkies, eDAO funds and supports NFT projects and launches from your favourite celebrities, music labels, film studios, artists, gamers and content creators co-created with flourishing Web3 communities.

Social Links: 


Twitter:

https://twitter.com/edao_official?s=11

https://twitter.com/HeftyVerse 

https://twitter.com/Bollyhungama 

https://twitter.com/h_talkies 

https://twitter.com/AshishChowdhry 

https://twitter.com/hefty_art 

CATALIST-listed AOXIN Q&M records 21% growth in revenue for full year ended 31 December 2021

SINGAPORE, Feb 23, 2022 - (ACN Newswire) - Catalist listed Aoxin Q&M Dental Limited ("Aoxin" or "the Group"), today announced a 20.8% increase in revenue to RMB160.2 million for full year ended 31 December 2021 ("FY2021"). The Group reported a net loss after tax of RMB7.3 million for FY2021, an improvement from the net loss of RMB12.1 million from a year ago. In 2020, in view of COVID-19 situation, the Chinese government provided temporary relief to businesses by waiving the social security insurance contributions. Aoxin would have additional RMB6.3 million of social security insurance expenses recorded in FY2020 resulting in a Net Loss of RMB18.4 million, instead of RMB12.1 million.


Dr. Shao Yongxin, Group Chief Executive Officer of Aoxin Q&M said, "Global economic prospects for 2022 will continue to be uncertain, with many countries still struggling to contain the rapid spread of the Omicron variant. The possibility of new COVID-19 strains cannot be ruled out. However, Aoxin Q&M's dental services make it resilient and well-positioned ride out the current downturn to capitalize on strategic opportunities in the post-COVID healthcare sector".

Mr Ryan San, Deputy Chief Executive Officer of Aoxin Q&M said, "The Group has been operating in a challenging environment, severely impacted by the recurring lockdowns of entire cities in the People's Republic of China ("PRC"). We are keeping a close watch on the evolving COVID-19 situation in PRC, while managing our costs with strict discipline."

Revenue

The Group's revenue increased by RMB27.6 million or 20.8%, from RMB132.6 million in FY2020 to RMB160.2 million in FY2021, mainly due to the recovery in all business segments.

Revenue from primary healthcare segment increased by 19.7% from RMB78.5 million in FY2020 to RMB93.9 million in FY2021. The increase in revenue were from our key hospitals in Shenyang and Dalian cities, and a polyclinic in Panjin city mainly due to increase in patients.

Revenue from distribution of dental equipment and supplies segment achieved a significant growth of 24.8%. Revenue was RMB50.4 million in FY2021 as compared to RMB40.4 million in FY2020. There was a higher demand for dental supplies materials from government hospitals amidst a gradual economic recovery in China backed by rolling out of the COVID-19 vaccination in the country.

Revenue from laboratory services segment increased by 15.9% to RMB15.9 million in FY2021 as compared to RMB13.7 million in FY2020 due to increase in demand of such services from the government dental hospitals in Shenyang City.

EBITDA

The Group's EBITDA also increased from RM9.5 million in FY2020 to RMB13.9 million in FY2021. The increase in EBITDA was mainly attributable to higher revenue and better performance from key dental hospitals and polyclinics as well as higher sales for dental equipment and supplies. Despite a positive EBITDA of RMB13.9 million, the Group recorded a loss of RMB7.3 million due to salary increment and recruitment expenses, as well as higher other expenses, such as acquisition related fees for Acumen Diagnostics Pte. Ltd. ("Acumen Diagnostics") and other tax expenses.

Mr Ryan San, Deputy Chief Executive Officer of Aoxin Q&M added. "We are also hopeful that moving forward, our recent acquisition of a 49% stake in Acumen Diagnostics will improve the profitability and cashflow of the Group. With Acumen Diagnostics expertise in R&D and medical diagnostics we will be able to play a vital role in support of the Singapore government's strategy of living with COVID-19. Concomitantly, this will also contribute to the growth of the Group."

Updates on associate - Acumen Diagnostics

- Capabilities to Tackle Omicron COVID-19 Variant

Acumen Diagnostics will continue to offer COVID-19 testing by polymerase chain reaction ("PCR") for patients that require PCR test results and for travelers as Singapore opens its borders, as well as distribute COVID-19 antigen rapid tests ("ART"). It will also launch a panel of new PCR tests for infectious diseases, sepsis and cancer.

On 3 December 2021, Acumen Diagnostics announced that its proprietary, locally-manufactured PCR test kits Acu-Corona 2.0 and Acu-Corona Duplex are able to detect COVID-19 positive cases infected with the Omicron variant. On 16 December 2021, Acumen Diagnostics announced that it has been granted a license by Ministry of Health, Singapore to provide offsite COVID-19 PCR swab services and serology sample collection at 100 clinics.

Acumen Diagnostics will continue to roll out its testing services via the Q&M Dental Group Limited's network of clinics, and also at its headquarters located at The Gemini, 41 Science Park Road, Singapore. Currently, Acumen Diagnostics has about 61 clinics providing the testing services island-wide.

- Proposed listing on NASDAQ stock exchange in relation to Acumen Diagnostics Pte. Ltd.

On 17 January 2022, Aoxin announced that the associated company of the Group, Acumen Diagnostics is exploring a proposed listing of its securities on the NASDAQ stock exchange in New York, USA. In this regard, Acumen Diagnostics has appointed UOB Kay Hian Private Limited to assist Acumen Diagnostics with the listing evaluation and all relevant preparatory work including the selection of professional advisers and underwriting banks in relation to the proposed listing and fund-raising exercise.

Looking Forward

Aoxin's FY2021 results reflects the significant upturn in revenue as compared to FY2020 revenue which was the period when the COVID-19 pandemic in PRC was in a more serious phase. As the COVID-19 situation in the PRC continues to improve, we expect the Group's revenue to correspondingly improve.

In addition, the recent 49% acquisition of medical technology company, Acumen Diagnostics for S$29.4 million on 1 November 2021, will enhance the profitability of the Group going forward.

The business environment is expected to remain challenging for the year ahead, as many countries including PRC struggle to contain the rapid spread of the COVID-19 virus demonstrated by new waves of infections.

The Group will continue to focus on disciplined management of operating expenditures, costs and capital expenditures. The Group will continue to monitor its expenses and maximise cost efficiency for operations.

Barring any unforeseen circumstances and further worsening of the COVID-19 situation such as ad-hoc lock down or temporary closures in cities where we operate, there are no known significant changes in the trends and competitive conditions of the industry in which the Group operates and no other major known factors or events that may adversely affect the Group in the next reporting period and the next 12 months. The Group will continue to monitor its operating expenses and maximise cost efficiency for operations.

For more information, please see attached files or the below links:
https://links.sgx.com/FileOpen/AoxinPressRelease-FY2021_final_23.2.22.ashx?App=Announcement&FileID=703172
https://links.sgx.com/FileOpen/AXQM%20Announcement%20FY2021.ashx?App=Announcement&FileID=703171

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Lim Hui Ling, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, [email protected]

About Aoxin Q&M Dental Group Limited (Stock Code: 1D4.SI) www.aoxinqm.com.sg

Aoxin Q&M Dental Group Limited ("Aoxin Q&M" or together with its subsidiaries, the "Group") is a leading provider of private dental services in the Liaoning Province, Northern People's Republic of China ("PRC"). The Group operates 16 dental centres, comprising 10 dental polyclinics and 6 dental hospitals, located across 8 cities in Liaoning Province, namely Shenyang, Huludao, Panjin, Gaizhou, Zhuanghe, Jinzhou, Dalian and Anshan.

We currently have 400 dental professionals, including 170 dentists, 180 dental surgery assistants and 50 laboratory technicians.

A majority of the dental centres are accredited as Designated Medical Institutions of Medical Insurance. Additionally, the Group is engaged in the provision of dental laboratory services, as well as the distribution and sale of dental equipment and supplies in the Liaoning, Heilongjiang and Jilin Provinces in Northern PRC.

Aoxin Q&M was listed on the Catalist board of the Singapore Exchange Securities Trading Limited on 26 April 2017.

About Acumen Diagnostics Pte. Ltd. (www.acumen-research.com)

Acumen Diagnostics Pte. Ltd. ("Acumen Diagnostics") is a homegrown Singaporean, award-winning medical technology company. It is fully integrated with functions in research and development, manufacturing, as well as commercialisation of molecular diagnostics by distribution as well as conducting clinical laboratory testing services for (including but not limited to) infectious diseases, cancer, and COVID-19. It has also actively established frontline services such as COVID-19 on-site swabbing operations.

Acumen Diagnostics is a 51% subsidiary of SGX-listed Q&M Dental Group (Singapore) Limited (SGX: 1D4.SI) and 49%-owned by SGX-listed Aoxin Q&M Dental Group Limited (SGX: QC7.SI).

Media and Analysts: please contact below for more information: Waterbrooks Consultants Pte. Ltd.
+65 6958 8008, [email protected]
Wayne Koo (M): +65 9338 8166, [email protected]
Derek Yeo (M): +65 9791 4707, [email protected]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comCatalist listed Aoxin Q&M Dental Limited ("Aoxin" or "the Group"), today announced a 20.8% increase in revenue to RMB160.2 million for full year ended 31 December 2021 ("FY2021").

Q&M Dental records historic highest-ever revenue and profit after tax for year ended 31 December 2021 and declares a full year dividend yielding 7%

SINGAPORE, Feb 23, 2022 - (ACN Newswire) - Q&M Dental Group (Singapore) Limited ("Q&M" or together with its subsidiaries, the "Group"), a leading private dental healthcare group in Asia, today reported the highest-ever revenue and profit after tax of S$205.6 million and S$39.4 million respectively for the financial year ended 31 December 2021 ("FY2021"). This is the best set of financials in Q&M's 25-year history since its founding in 1996. Net profit after tax attributable to shareholders for FY2021 jumped 55% to S$30.5 million compared to S$19.7 million compared to a year ago.


Quarterly Financial Performance since the start of Covid-19 (From 4Q2019)

The Covid-19 pandemic had no impact on the Group's core dental and medical clinics business segment and continued its strong growth trend. On a Quarterly basis, the Group's revenue also recorded a steady increase from S$36.4 million in 4Q2019 to S$53.3 million in 4Q2021.

FY2021 Financial Performance

For the FY2021, total revenue improved by S$68.0 million or 49% from S$137.6 million to S$205.6 million. Revenue from dental and medical clinics increased by 27% to S$160.2 million. The increase was mainly due to higher revenue from existing and new dental clinics in Singapore.

Revenue from medical laboratory and dental equipment & supplies segment jumped by 304% to S$45.4 million. The increase was mainly due to revenue from the Group's Covid-19 medical laboratory business. The medical laboratory license from MOH was obtained in September 2020.

The Group's EBITDA for FY2021 correspondingly increased by 68% to S$63.3 million, from S$37.7 million in the previous period.

The Group's net profit after tax in FY2021 increased by 98% to S$39.4 million from the S$19.8 million recorded in FY2020. PATMI (Profit after tax attributable to Shareholders excluding Minorities) grew by 55% to S$30.5 million, from S$19.7 million in the previous period.

Earnings per share increased to 3.23 Singapore cents for FY2021, from 2.09 Singapore cents in the previous period.

As at 31 December 2021, the Group's financial position remains strong with net assets of S$97.8 million, as well as cash and cash equivalents of S$47.6 million. Bank borrowings and financial liabilities amounted to S$83.7 million.

Fourth interim Dividend

The Group declares a fourth interim dividend of 1.0 Singapore cent per ordinary share for 4Q2021. In the last three quarters of 2021, the Group paid 1.0 Singapore cent in 1Q2021, 1.0 Singapore cent in 2Q2021 and 1.0 Singapore cent in 3Q2021. The total dividends work out to 4.0 Singapore cents for FY2021 translating to a 7% dividend yield based on closing share price of 56.5 cents and a dividend payout ratio of 113%. The 4Q2021 dividend will be paid on 24 March 2022.

Operational Update - Growth & Expansion in medical clinics

As at 31 December 2021, the Group has 136 dental clinics as compared to 118 in 31 December 2020, an increase of 18. The Group's number of medical clinics in Singapore remained unchanged at 5. (See Table 1)

In Singapore, the Group's number of dental clinics in Singapore grew to 97 in FY2021 from 83 in FY2020. The Group opened 15 new clinics and consolidated 1 clinic in Singapore in 2021 resulting in a net increase of 14 clinics. (See Table 2)

Similarly, for overseas, the number of dental clinics has increased to 39 in FY2021, as compared to 35 previously. 38 dental clinics are in Malaysia and 1 dental clinic is in the People's Republic of

China ("PRC"). The locations of the dental clinics in Malaysia are 15 in Johor, 18 in Kuala Lumpur and 5 in Malacca. (See Table 3).

To support this growth, the Group has also increased its total number of dentists to 270 as at 31 December 2021, as compared to 250 a year ago.

Updates on subsidiary - Acumen Diagnostics Pte Ltd

The Group continues to focus on investment opportunities in sectors that are synergistic and aligned with its business strategy. Associate Company Aoxin Q&M Dental Group Limited ("Aoxin")'s recent acquisition of a 49% shareholding of Acumen Diagnostics Pte. Ltd. ("Acumen Diagnostics"), raised Q&M's effective interest in Acumen Diagnostics to 67% from 51% in October 2021. With 1 scientist, 16 medical technologists and 36 other staff, Acumen Diagnostics' technical capabilities and infrastructure in molecular diagnostics, enables it to do research and development, manufacturing, as well as clinical laboratory testing.

- Capabilities to Tackle Omicron Covid-19 Variant

For Acumen Diagnostics, the Group will continue to offer COVID-19 testing by polymerase chain reaction ("PCR") for patients that require PCR test results and for travelers as Singapore opens its borders, as well as distribute COVID-19 antigen rapid tests ("ART"). It will also launch a panel of new PCR tests for infectious diseases, sepsis and cancer.

On 11 November 2021, Acumen Diagnostics announced that it has been granted the license by Ministry of Health, Singapore to provide door-to-door COVID-19 PCR home swab services.

On 3 December 2021, Acumen Diagnostics announced that its proprietary, locally-manufactured PCR test kits Acu-Corona 2.0 and Acu-Corona Duplex are able to detect COVID-19 positive cases infected with the Omicron variant. On 16 December 2021, Acumen Diagnostics announced that it has been granted a license by Ministry of Health, Singapore to provide offsite COVID-19 PCR swab services and serology sample collection at 100 clinics.

Acumen Diagnostics will continue to roll out its testing services via the Group's network of clinics, and also at its headquarters located at The Gemini, 41 Science Park Road, Singapore. Currently, the Company has about 61 clinics providing the testing services island-wide.

- Appoints UOB Kay Hian Private Limited as Arranger to Explore NASDAQ Listing

On 17 January 2022, Q&M announced that Acumen Diagnostics is exploring a proposed listing of its securities on the NASDAQ stock exchange in New York, USA. Acumen Diagnostics has appointed UOB Kay Hian Private Limited to assist Acumen Diagnostics with the listing evaluation and all relevant preparatory work including the selection of professional advisers and underwriting banks in relation to the proposed NASDAQ listing and fundraising exercise.

Looking Forward - Expansion Plans

Dr Ng Chin Siau, said "Q&M will embark on 4 pillars of growth. Firstly, expansion of our core dental business in Singapore, Malaysia as well as South East Asia and China for sustainable growth. "Our Group intends to open at least 30 dental clinics a year from 2021 onwards in Singapore and Malaysia for the next 10 years."

Secondly, the use of medical technology such as our proprietary Artificial Intelligence Guided Clinical Decision Support System to provide the most effective and suitable treatment plans for patients This will enable us to scale up consistency and quality throughout our network clinics.

Thirdly, expand our clinical testing laboratory business to test Covid-19 and other diseases such as dengue sepsis and other bacterial pathogens.

Fourthly, invest in medical and healthcare business that will enhance our shareholder's value such as Acumen Diagnostic."

Q&M Group will continue to execute our business plans outlined below:

1. Expansion of network of dental clinics in Singapore, Malaysia and Southeast Asia

Q&M will focus on its operations in Singapore and has initiated a strategy of intensive organic growth for its dental clinics in Singapore. It will expand its team of dentists to support the future growth of its operations in Singapore.

The Group intends to open at least 30 dental clinics a year for the next 10 years from 2021 onwards in Singapore and Malaysia and continue to look for opportunities to expand its business through the opening of new dental clinics in Southeast Asia.

The eventual number of dental outlets will depend on available opportunities, pertinent market conditions and the evolving Covid-19 situation.

2. Expansion into private dental healthcare market in China

Q&M's main thrust of expansion in China is through organic growth to develop a new and sustainable growth pillar that can yield long term value for the Group.

3. Artificial Intelligence Guided Clinical Decision Support System (AI-GCDSS)

Q&M will continue to develop, invest, and optimise its proprietary digital Artificial Intelligence (AI) Guided Clinical Decision Support System to provide the most effective and suitable treatment plans for patients. The Group believes it is well-positioned to cater to patients' rising demand for primary and higher value specialist dental healthcare services.

4. Medical Laboratory

Q&M will focus on rolling out its clinical testing laboratory's pipeline of new tests including PCR assays for dengue sepsis and the identification of bacterial pathogens and their associated antibiotics resistance in pneumonia and bloodstream infections.

Looking Forward

Barring any unforeseen circumstances, such as a rapid worsening of the Covid-19 situation in Singapore and Malaysia, there are no known significant changes in the trends and competitive conditions of the industry in which the Group operates and no other major known factors or events that may adversely affect the Group in the next reporting period and the next 12 months.

[1] Based on closing share price of 56.5 cents as at 17 February 2022

Please see links for PDF documents from SGXNET.
https://links.sgx.com/FileOpen/QnM_FY%202021_PRESS_RELEASE.ashx?App=Announcement&FileID=703150
https://links.sgx.com/FileOpen/QnM_4Q2021_Result_Announcement.ashx?App=Announcement&FileID=703149

About Q&M Dental Group (Singapore) Limited (QC7.SI) www.QandMDental.com.sg

Q&M Dental Group (Singapore) Limited ("Q&M" or together with its subsidiaries, the "Group") is a leading private dental healthcare group in Asia. The Group owns the largest network of private dental outlets in Singapore, operating 98 dental outlets across the country. Underpinned by about 270 experienced dentists, 7 doctors and over 350 supporting staff, the Group sees an average of 40,000 patient visits a month in Singapore. The Group also operates 5 medical clinics and a dental supplies and equipment distribution company.

Outside of Singapore, the Group has 38 dental clinics and a dental supplies and equipment distribution company in Malaysia, as well as a dental clinic in the People's Republic of China ("PRC"). Q&M is also the substantial shareholder of Aoxin Q&M Dental Group Limited, a dental Group listed on the Catalist board of the Singapore Exchange, which operates dental clinics and hospitals primarily in the North- eastern region of the PRC. The Group aims to expand its operations geographically and vertically through the value chain in Malaysia, the PRC and within ASEAN.

In 2018, the Group made inroads into the development of advanced technology in healthcare with the establishment of EM2AI Pte. Ltd. ("EM2AI", formerly known as Q&M Dental AI Pte. Ltd.). EM2AI focuses on developing an Artificial Intelligence (AI) ethical enhanced guided treatment plan.

In 2019, the Group expanded into dental postgraduate education with the establishment of the Q&M College of Dentistry. It offers Singapore's first private postgraduate diploma programme in clinical dentistry.

In 2020, the Group also expanded into the medical laboratories and research industry with the incorporation of Acumen Diagnostics Pte. Ltd. ("Acumen Diagnostics"). Acumen Diagnostics currently focuses on the manufacture, sale and distribution of COVID-19 diagnostic test kits, as well as COVID-19 testing.

The Group was listed on the Mainboard of the Singapore Exchange Securities Trading Limited ("SGX- ST") on 26 November 2009.

For more information, please contact:
Waterbrooks Consultants Pte Ltd
Tel: +65 6958 8008 (M) +65 9690-4959 email: [email protected]
Wayne Koo - [email protected] (M) +65 933 88166
Derek Yeo - [email protected]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comQ&M Dental Group (Singapore) Limited ("Q&M" or together with its subsidiaries, the "Group"), a leading private dental healthcare group in Asia, today reported the highest-ever revenue and profit after tax of S$205.6 million and S$39.4 million respectively for the financial year ended 31 December 2021 ("FY2021").

Multiplex Assays Market Global Forecast to 2026: Increasing Adoption of Multiplex Assays in Companion Diagnostics to Drive the Market Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Multiplex Assays Market by Product (Consumables, Instruments, Software & Services), Type (Nucleic Acid, Protein, Cell), Technology (Flow Cytometry, Luminescence, Application (R&D, Diagnosis), End User (Pharma & Biotech, Hospital) – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering. The global Multiplex Assays Market is projected to reach USD 4.3 billion by […]

The post Multiplex Assays Market Global Forecast to 2026: Increasing Adoption of Multiplex Assays in Companion Diagnostics to Drive the Market Growth – ResearchAndMarkets.com appeared first on Fintech News.

ESG and Fintechs: Technology enables impact goals

By Sasha Grutman, Demetris Papademetriou, and Rishabh Madhok The current surge in ESG (“Environmental, Social, and Governance”) investing has influenced a material shift in the Financial Services sector. Whether it’s the billions of Dollars being invested in green and sustainable instruments, serious institutional efforts to address ESG as a risk factor in lending and investing, […]

The post ESG and Fintechs: Technology enables impact goals appeared first on Fintech News.

Education financing platform Propelld raises $35m Series B

The start-up intends to add another 100 to 150 employees to its already 150-strong workforce.

UTILITY OF NFTS: THE AFROBUBBLE CASE

In 2021, the marketplace for NFTs grew to $22 billion. The NFT boom is billed to reach a high point in 2022. Last year was the time for…

HYPEBEAST LTD. (0150.HK) Ventures Into New Interest Areas Amid Strong Growth Dynamics

HONG KONG, Feb 21, 2022 - (ACN Newswire) - The board of directors of Hypebeast Limited (Stock Code: 0150.HK) has announced the Group's unaudited key financial results for the three months ended 31 December 2021 ("FY2022 Q3").

The Group started the Financial Year on a high note and continued momentum in FY2022 Q3 with a strong emphasis on realizing strategic and geographical expansion initiatives to capitalize on new business opportunities. In particular, the Group has executed a multi-layered diversification strategy, including content generation in new interest areas such as art and sports, the continued expansion of advertising capabilities offered by the Group's Media segments, and product expansion on the E-Commerce and Retail segments, all of which have energized existing consumers and paved the way for future business growth.

As the trend towards digital channels continues, the Group has made a corresponding greater shift in marketing and advertising budgets from traditional marketing channels to digital and online channels, and the Group expects to benefit from this dynamic operating environment. The Group's existing strategies and a favorable operating environment will be strong drivers of new user acquisition and revenue growth throughout FY2022 and into the coming financial year.

Overall Performance
-- Revenue for 9M2022 was HK$681.1 million, increasing 43.9% compared to HK$473.3 million recorded in 9M2021;

-- Revenue for FY2022 Q3 was HK$240.2 million, increasing 27.9% compared to the HK$187.9 million recorded for FY2021 Q3;

-- Gross profit margin improved to 58.2%, representing a year-on-year increase of 8.8 percentage points from 49.4%;

-- Gross profit for 9M2022 was HK$396.4 million, representing an increase of 69.5% from HK$233.8 million in the same period last year.

Media Segment
-- The Media segment recorded a year-on-year increase in revenue of 66.2% from HK$302.7 million in 9M2021 to HK$502.9 million in 9M2022;

-- Media segment revenue in North America and major European countries rebounded strongly compared to the same period last year, with year-on-year increases of 177.7% and 69.0% respectively for 9M2022;

-- Gross profit margin for the Media segment increased by 7.7 percentage points versus prior year to 63.1% for 9M2022. The improvements were mainly due to production cost efficiencies generated from increased scale of media advertising production and streamlined campaign deliveries in the Media segment.

E-commerce and Retail Segment
-- The E-commerce and Retail segment revenue for 9M2022 was HK$178.2 million, representing an increase of 4.4% from HK$170.7 million in 9M2021;

-- Gross profit from the E-commerce and Retail segment increased by 19.2% from HK$66.2 million in 9M2021 to HK$78.9 million for 9M2022, while gross profit margin improved by 5.5 percentage points to 44.3% in 9M2022 due to increased sell-through rates and higher proportion of full-price sales achieved from continuous improvements in product marketing and streamlined consumer shopping experience;

-- The Group continued its product expansion strategy, expanding its offerings to homeware, toys and other lifestyle products on HBX to cater to all aspects of the HBX customer's lifestyle needs.

Operating Expenses
-- Selling and marketing expenses increased by 42.9% from HK$78.2 million for 9M2021 to HK$111.8 million for 9M2022. As a percentage of revenue, selling and marketing expenses remained constant at 16.5% for 9M2021 and 9M2022;

-- Administrative and operating expenses were HK$151.9 million for 9M2022, up by 77.6% from HK$85.5 million for 9M2021. As a percentage of revenue, administrative and operating expenses increased from 18.1% for 9M2021 to 22.3% for 9M2022;

-- Increase in operating expenses as a percentage of revenue from 34.6% in 9M2021 to 38.7% in the current period was mainly caused by (i) increases in headcounts within the Group's sales and marketing team to facilitate current and future business growth; and (ii) prudent cost management during the COVID-19 pandemic last year and government subsidies received in the comparative period.

For further details on the quarterly results performance, visit the Group's corporate website to view the full announcement.
https://hypebeast.ltd/investors

Investor Enquiries: [email protected]
Media Inquiries: [email protected]

Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email: [email protected]
Ivy Chan Tel: (852) 2864 4890 Email: [email protected]
Fax: (852) 2527 1196

About Hypebeast Limited (Stock Code: 0150.HK)
Hypebeast Ltd. is a publicly listed media and retail company that lives at the forefront of global culture, offering digital media, e-commerce and creative agency services to cultural enthusiasts worldwide . Listed on the Hong Kong Stock Exchange since 2016 and with a total reach of over 44.7M users across all platforms, the Group's Hypemedia division boasts global readership across Asia Pacific, North America, Europe and more, with the flagship Hypebeast platform available in five languages. The platform and community empowers the Group's various businesses, which encompasses Hypebeast and its multiple content distribution platforms, Hypemaker, its global creative agency and HBX, its e-commerce and retail platform.


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe board of directors of Hypebeast Limited (Stock Code: 0150.HK) has announced the Group's unaudited key financial results for the three months ended 31 December 2021 ("FY2022 Q3").

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