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The Wuling COVID Testing Cars will be delivered at the end of May

HONG KONG, May 23, 2022 - (ACN Newswire) - On May 13, Guo Yanhong, the supervisor of the Medical Administration and Hospital Authority of the National Health Commission,...

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Propel Global Berhad Confident of Expansion Plans on New Structure and Fresh Cash Injection

KUALA LUMPUR, Apr 27, 2022 - (ACN Newswire) - Propel Global Berhad is confident that the new corporate structure as well as the...

ARMA International Forms Global Partnership With The Records and Information Management Professionals Australasia

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LEE'S SUMMIT, MO and BURLEIGH HEADS, AU, Apr 8, 2022 - (ACN Newswire) - ARMA International (www.arma.org), the world's leading membership organization serving professionals who manage and govern information assets and the Records and Information Management Professionals Australasia (RIMPA) (www.rimpa.com.au/), the longest serving peak body for industry practitioners in the southern hemisphere announced today a Global Partnership to better serve the information management profession worldwide.

The global partnership between these two leading worldwide organizations will provide many benefits to their collective 7,000 members who will now have the opportunity for joint membership in both organizations; access to reciprocal resources including communities and professional development, education and certifications; and advocacy for the information management and information governance profession. Together the two organizations will work together to provide a unique perspective on global information issues.

"Increasing the influence of the organization in the information management profession globally is a key strategic goal put forth by the ARMA Board of Directors. A partnership between ARMA and RIMPA is an amazing opportunity to create a global alliance for the industry and increase the opportunities for all of our members worldwide," added Michael Haley, President, Board of Directors, ARMA.

"Information management and recordkeeping is a global challenge to do well. For the benefit of world citizens, I see the ARMA and RIMPA alliance as a very important step in meeting this challenge through the exchange of information, sharing resources and good will and I am very proud to part of this exciting journey that we are about to embark on," said Thomas Kaufhold, Chair of Board, RIMPA.

The two organizations have already begun collaborating. Nathan Hughes, Executive Director of ARMA and Wendy McLain, President-Elect of ARMA will be attending the RIMPA Live 2022 Convention, June 14-17 in Canberra, Australia, and participate in meetings with the RIMPA Board. Anne Cornish, Chief Executive Officer of RIMPA and Thomas Kaufhold, Chair of the Board of RIMPA will be attending ARMA's InfoCon 2022, October 16-19, in Nashville, TN, and participate in meetings with the ARMA Board.

"The partnership of ARMA and RIMPA brings with it the opportunity to integrate two of the largest information management communities to continue to increase awareness for the industry. The possibilities expand exponentially when like-minded organizations work globally for their membership and foster an environment of growth," said Nathan Hughes, Executive Director, ARMA.

"A RIMPA and ARMA alliance provide both member groups with the opportunity to broaden their knowledge and extend networking opportunities. Working together on global issues and increasing access to professional development opportunities and resources is a positive sign of how society can operate effectively in separate hemispheres," added Anne Cornish, Chief Executive Officer, RIMPA.

About ARMA International

ARMA International (www.arma.org), formed in 1955, is the world's leading membership organization serving almost 5,000 professionals who manage and govern information in 52 countries. Members represent the community of records management, information management, and information governance professionals who harness the benefits and reduce the risks of information. ARMA provides information professionals with the resources, tools, and training they need to effectively manage records and information within an established information governance framework. Works that are associated with the framework include the Principles, the Information Governance Maturity Model and the Information Governance Body of Knowledge (IGBOK). ARMA recognizes professionals who have mastered these concepts through the Information Governance Professional (IGP) Certification.

About The Records and Information Management Professionals Australasia

The Records and Information Management Professionals Australasia (RIMPA) (www.rimpa.com.au/) established in 1969, represents over 2,000 professionals and organizations in the private sector, Commonwealth, Federal, State and Local Governments. RIMPA has active Branches and Chapters operating in all states and territories across Australia and New Zealand. RIMPA is the longest serving peak body for industry practitioners in the southern hemisphere and actively promotes best practice, sets industry standards and fosters professional development across all business sectors and educational institutions. Through its international partnerships with other peak bodies, RIMPA provides its members with access to an accomplished framework of professional associations. RIMPA has strategic alliances with the Information Governance ANZ, Institute of Managers and Leaders (IML), Australian Library and Information Association (ALIA), Australian Society of Archivist (ASA) and Leadership Through Data.

For further information, contact:
Amy Riemer, Media Relations Representative
978-475-4441 (office) or 978-502-4895 (cell)
amy@riemercommunications.com

SOURCE: ARMA International

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comARMA International (www.arma.org), the world's leading membership organization serving professionals who manage and govern information assets and the Records and Information Management Professionals Australasia (RIMPA) (www.rimpa.com.au/), the longest serving peak body for industry practitioners in the southern hemisphere announced today a Global Partnership to better serve the information management profession worldwide.

Brawijaya Student Start-up makes Forbes 30 Under 30 List

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Malang, East Java, Indonesia, Apr 4, 2022 - (ACN Newswire) - An agricultural start-up initiated by three students from Malang's Brawijaya University whose app, Chickin, has been downloaded by a thousand farmers across Indonesia, has made the Forbes 30 Under 30 list. According to the founders, the application uses Internet of Things (IoT) and artificial intelligence (AI) to enhance the productivity of farmers by up to 25 percent.

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Universitas Brawijaya (UB) in Malang, East Java, Indonesia (ANTARA/ HO/ Universitas Brawijaya)

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Chickin, hatched at UB/U.Brawijaya by founders Ashab, Tubagus and Ahmad (Chicken.ID Website / Malang, Indonesia)

The app was developed by agrotechnology student Ashab Alkahfi, who is serving as the President of Chickin, Tubagus Syailendra from international relations, who is serving as CEO/Chief Executive Officer, and Ahmad Syaifullah from information systems, serving as the CTO/Chief Technology Officer.

"Based on initial research, we developed the app in Klaten, Central Java. We built poultry coops as farmers and began our poultry business where we found a number of challenges faced by local farmers. From there, we tried to solve these challenges by means of technology," Alkahfi explained.

The application allows farmers to control the micro-climate inside chicken coops from a distance. Through the technology, farmers can input data, including daily, sales, and production data, to enhance performance and make it more measurable and at the same time, minimize risks through preventive measures.

The app also offers a number of features for management of the poultry farm, including data and IoT configuration adaptable to climate, temperature and humidity, as well as recording the age of each poultry. Aside from partnering with 14 poultry farms, Chickin has established cooperation with 100 poultry suppliers in the food industry.

Alkahfi said he hopes the app will bring ease to farmers and have a positive impact on them, adding that the farming modernization technology was developed free of charge under Brawijaya University's Entrepreneur Incubator.

Chickin has seen 22-fold growth in the last 10 months and closed a funding round of Rp35 billion with three global investors. The company is targeting to increase revenue to Rp500 billion by the end of 2022.

So far, Chickin Indonesia is not only assiting one thousand farmers across the nation, but the company is committed to developing the technology to minimize the use of antibiotics for organic chicken through coop micro-climate control and providing training to poultry farmers free of charge to modernize Indonesian poultry farms.

For more information, Chickin Indonesia is online at https://chickin.id/.
Written by: Aria Cindyara, Editor: Rahmad Nasution (c) ANTARA 2022

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAn agricultural start-up initiated by three students from Malang's Brawijaya University whose app, Chickin, has been downloaded by a thousand farmers across Indonesia has made the Forbes 30 Under 30 list.

Osso VR raises $66m and plans hiring spree

Osso VR will use $66 million of series C funding to add top-tier talent to what’s already the largest team of medical illustrators in...

Bitcoin Is Venice: Wrestling With The Truth

Surprising as it may be, Bitcoin’s history mirrors the history of mixed martial arts.

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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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.

Star Atlas: Next Generation Gaming Metaverse

Star Atlas is a next-generation metaverse project built on the Solana network and is one of the most ambitious projects in the gaming and metaverse scene that I have ever seen. Star Atlas is more than just a blockchain gaming metaverse; it is an entirely new, fully immersive virtual solar system with multi-dimensional play to earn […]

The post Star Atlas: Next Generation Gaming Metaverse appeared first on Coin Bureau.

Star Atlas: Next Generation Gaming Metaverse

Star Atlas is a next-generation metaverse project built on the Solana network and is one of the most ambitious projects in the gaming and metaverse scene that I have ever seen. Star Atlas is more than just a blockchain gaming metaverse; it is an entirely new, fully immersive virtual solar system with multi-dimensional play to earn […]

The post Star Atlas: Next Generation Gaming Metaverse appeared first on Coin Bureau.

Star Atlas: Next Generation Gaming Metaverse

Star Atlas is a next-generation metaverse project built on the Solana network and is one of the most ambitious projects in the gaming and metaverse scene that I have ever seen. Star Atlas is more than just a blockchain gaming metaverse; it is an entirely new, fully immersive virtual solar system with multi-dimensional play to earn […]

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Angelalign Announces 2021 Annual Results

HONG KONG, Mar 25, 2022 - (ACN Newswire) - Angelalign Technology Inc. ("Angelalign" or "Company"; stock code 6699) was pleased to announce the audited consolidated annual results of the Group for the year ended December 31, 2021 (the "Reporting Period") today.

In 2021, the company achieved robust business growth amid the market volatility and challenge. The company recognized total revenue of RMB1,271.7 million, representing a year-over-year growth of 55.7%, of which 93.1%, 5.3% and 1.6% were generated from provision of clear aligner treatment solutions, sales of intraoral scanner and provision of other services, respectively. It is gratifying to note that revenue generated from its core business, namely the clear aligner treatment solutions, achieved a year-over-year growth of 48.2%, despite the impact of external headwinds. In addition, leveraging its refined operational management capabilities, the company delivered steady earnings growth, with the adjusted EBITDA increasing by 40.7% year-over-year to RMB417.5 million, and the adjusted net profit increasing by 52.9% year-over-year to RMB347.5 million.

Continuously penetrate into the digital orthodontics market and strengthen its diversified product portfolio

With a profound understanding of the medical principles and practices of digital orthodontics and insight into the needs of various dental professionals and patients in China, the company have built a diversified product portfolio and currently market four lines of clear aligners with a variety of unique features that appeal to different user segments, including Angelalign that targets the mass market, Angelalign Pro that targets the high-end market, Angelalign Kid that focuses on early intervention for children, and COMFOS as a good value-for-money product.

During the Reporting Period, the company had 183,200 case shipments, representing a year over-year increase of 33.1%. Specifically, the case shipments of Angelalign , Angelalign Pro , Angelalign Kid and COMFOS achieved a year-over-year growth rate of 10.4%, 52.5%, 116.0% and 56.2%, respectively.

Optimize the digital treatment experience and achieve all-round empowerment with medical-centric and intelligent technological services

To optimize the digital treatment experience, the company expanded its business into sales of intraoral scanners in 2021, which allows dental professionals to significantly improve their communication efficiency with prospective patients. Leveraging the compatibility of Make It with major intraoral scanners, which is a built-in case assessment support module of iOrtho, its cloud-based service platform, dental professionals can present to a prospective patient an image of his or her own current dentition next to the simulated post-treatment position through a dual view layout within a few minutes of intraoral scanning.

The company believes that large-scale, systematic, and continuous professional training in clear aligner treatment helps develop dental professionals' recognition of, and confidence in, Angelalign's services. In 2021, the company continued to empower more Chinese dental professionals with varying levels of sophistication by further optimizing its training content and curriculum around the treatment process and core issues in clinical practice. During the Reporting Period, the company served approximately 25,000 dental professionals, representing a year-over-year increase of 25.6%.

Integrate interdisciplinary capabilities in five major areas and continuously invest in R&D initiatives to make continuous breakthroughs in product and technology development

Benefiting from its long-term investment of R&D resources, the company has established strong interdisciplinary R&D capabilities in five major areas, including clinical stomatology, biomechanics, materials science, computer science and intelligent manufacturing technologies. Based on these interdisciplinary R&D capabilities, the company has developed reliable technology and data platforms, including masterForce , masterControl and artificial intelligence multimodal biological data platform ME . In 2021, the company achieved a series of innovative results in materials, technologies, software and equipment, which focus on product performance, clinical convenience, optimization of treatment planning and differentiation of products and technical services.

The company has formulated the industry standard of "Dentistry - Orthodontics Appliance Diaphragm" in collaboration with Peking University Hospital of Stomatology. The company also obtained the approval by the National Standardization Technical Committee for Oral Materials and Instruments (SAC/TC99) of another industry standard project of "Dentistry - Bracket-free Diaphragmtype Orthodontic Appliance" in 2021. During the Reporting Period, the company incurred R&D expenses of RMB123.1 million, accounting for 9.7% of its revenue. As of December 31, 2021, the company had registered 117 patents, and 16 software copyrights.

The company has established good cooperation with many renowned stomatology schools and universities in China. The company has proactively conducted industry-academia research cooperation and prioritized the application of scientific research results and other industrialization achievements. Over the recent years, the company has set up special research funds for orthodontics with the Ninth People's Hospital, Shanghai Jiaotong University School of Medicine, Peking University Hospital of Stomatology, Sichuan University Huaxi Stomatology Hospital and Wuhan University Stomatological Hospital, respectively, to carry out joint R&D initiatives. The company also conducted research on orthodontic materials with the State Key Laboratory of Molecular Engineering of Polymers of Fudan University, the preliminary research results of which has been accepted by Regenerative Biomaterials, an SCI journal published by the Oxford University Press

Continue to enhance brand awareness and academic influence

As a leader in driving the development of China's clear aligner treatment industry, "Angelalign" has become the best known and the most trustworthy domestic brand among China's clear aligner treatment solution providers. In 2021, the company continued to enhance brand awareness and academic influence of "Angelalign" through industry-academia research collaboration, academic sharing, promoting campaigns for popular science and charitable campaigns.

The company has been appointed as a sponsor by the Bureau of Training of General Administration of Sport of China to provide clear aligner treatment for national athletes since 2017, with its clear aligners being designated as the Approved Products for National Team Athletes. In the Beijing 2022 Winter Olympic Games and the 2022 AFC Women's Asian Cup, a number of Chinese athletes who won gold medals smiled with "Angelalign" clear aligners.

Optimize scalable and intelligent mass customization capability to achieve lean manufacturing

The company believes that its accumulated intelligent manufacturing capabilities, a "mass customization" model and scalable manufacturing capabilities are the solid foundation for its long-term business growth.

The company's Angelalign Chuangmei Center in Wuxi City comprises new manufacturing facilities and a research and development center with a gross floor area of approximately 126,000 square meters. During the Reporting Period, the first phase of its Angelalign Chuangmei Center was completed. The company also completed the commissioning process of one established automated production line in the first quarter of 2022, which will be put into use based on demands of its products. In addition, the company applied intelligent and innovative technologies to upgrade the information systems, technics and equipment of its existing automated production lines, and has enabled a fully automated outer packaging system to enhance the automation of the product outer packaging process, which significantly improves the production efficiency.

Looking forward, the company aims to serve dental professionals and their patients with more customized products and services, refined manufacturing capability and flexible supply chain. To this end, the company intends to pursue the following key strategies to grow its business sustainably and maintain its market leadership: (1) strengthen R&D capabilities and continue orthodontic solution innovations; (2) further intelligentize and digitalize its systems to improve operational efficiency; (3) optimize medical services to enhance user experience; (4) increase production capacity and improve production efficiency; (5) solidify its market leading position by expanding sales network and enhancing brand awareness and academic influence. The Company will continue leveraging its market leadership and its intimate understanding of China's digital orthodontics market, the company believes that it is well positioned to capture the upside potential of the enormous market. In the future, the Group will continue to deepen its main business, conduct solid and steady operations, and strive to enhance the company's performance and market value, and strive to create more investment returns for shareholders.

About Angelalign Technology Inc.
Angelalign Technology Inc. is a leading clear aligner treatment solution provider in China. The Company facilitates dental professionals throughout the entire clear aligner treatment process with Angelalign clear aligner system, which comprises a trio of interrelated components: (1) digitally-assisted case assessment support and treatment planning services, (2) customized, removable clear aligners based on specific treatment plans, and (3) iOrtho, a cloud-based service platform. Established in 2003, Angelalign has always been committed to helping dentists diagnose and treat in a steady, easy, quick and accurate way through digital technology-driven products and technical services to smile confidently with the help of technology.


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAngelalign Technology Inc. ("Angelalign" or "Company"; stock code 6699) was pleased to announce the audited consolidated annual results of the Group for the year ended December 31, 2021 (the "Reporting Period") today.
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