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HONG KONG, Aug 31, 2024 - (ACN Newswire via SeaPRwire.com) - GF Securities Co., Ltd. ("GF Securities" or the "Company", together with its subsidiaries within the scope of its consolidated financial statements (“subsidiaries”), the “Group”; HKSE: 1776; SZSE: 000776) announced its interim results for the six months ended 30 August 2024 (the “Reporting Period”). During the Reporting Period, under the guidance of the Board of Directors, the management of the Company led all staff to carry out key work to focus on enhancing core business capabilities, cultivating new quality competitiveness, improving comprehensive service capabilities and boosting resource allocation efficiency, as a result of which, the Company’s operating results achieved stable development with a total revenue and other income of RMB17,136  million, and a net profit attributable to owners of the Company of RMB4,362 million. As of 30 June, 2024, the Group’s total asset amounted to RMB689,328 million, representing an increase of 1.05 % as compared to the end of 2023 ; and equity attributable to owners of the Company amounted to RMB140,703 million, representing an increase of 3.67% as compared to the end of 2023.As one of the first batch of pilot comprehensive management brokerages selected by the CSRC, GF Securities possesses licenses for a full range of services involved in four business segments, including investment banking, wealth management, trading and institution, and investment management. The Group has successively set up futures subsidiaries, public fund subsidiaries, private fund subsidiaries, alternative investment subsidiaries and asset management subsidiaries. With its unique value concept and pragmatic entrepreneurial style, the Company has built up a full-service chain with comprehensive layout and strong strength. In respect  of regional development, the Company based in Guangdong and serves the whole country, connecting domestically and internationally, forges a leading national brokerage with a long-term vision and an open mind. Against this backdrop, the Company has maintained main operating indicators ranking among the top securities companies in China for many consecutive years, and established its leading advantages in various key business segments.Wealth Management Business Continues to Lead under Ongoing and Deepening TransformationThe Company has taken the lead in proposing wealth management transformation and has currently been equipped with excellent financial product research, sales capabilities and professional asset allocation capabilities. The Company had more than 4,400 securities investment advisors, ranking No. 1 in the industry (in terms of parent company caliber), striving to provide precise wealth management services to different clients.In the first half of 2024, the Company focused on strengthening the construction of investment research and professional investment & advisory service capabilities, continuing to build a differentiated product and service supply system, and promote the transformation of wealth management business into an investor-oriented buy-side investment advisory business to enhance investors’ sense of gain. In the domestic market, as of the end of June 2024, the total balance of financial products sold by the Company on a commission basis exceeded RMB220 billion, representing an increase of 4.00% as compared to the end of last year while the sales amount of financial products on the Yitaojin E-commerce platform (including Cash Return  and Taojin Market  amounted to RMB116.918 billion. In the overseas market, the Group further diversified its product offerings and continued to transform into wealth management with net sales income and balance of financial products and commissions for multi-market transactions achieving a year-on-year growth. In addition, the market share (in terms of trading volume and trading amount of futures) of GF Futures, the wholly-owned subsidiary of the Group, achieved year-on-year growth. GF Futures (Hong Kong) was awarded the Most Active Chinese Commodity Futures Broker of 2023 by the Singapore Exchange.At the end of June 2024, the Company had 356 branches and business departments nationwide, with a presence in 31 provinces, municipalities, and autonomous regions across the PRC. The number and coverage ratio of business outlets in the nine cities of the Pearl River Delta in the Guangdong-Hong Kong-Macao Greater Bay Area ranked No. 1 in the industry, providing a wide range of market reach for the Company’s business and laying important support for customer accumulation and service.Continuous Development of Insitutional Business with Outstanding Research Capabilies EmpowermentThe Company actively seizes the opportunities of reform on the investment, financing and trading, gives full play to the role of research in empowering and promoting the Company's core business, integrates resources to provide comprehensive solutions for institutional customers, improves institutional customer service capabilities and institutional customer service systems, and continues to expand institutional business.In the first half of 2024, the market-making business of the Company continued to be in the first echelon of the market, providing market-making services for more than 700 funds and all ETF options of the SSE and SZSE, and market-making services for CSI 300 stock index options and CSI 1000 stock index options of the China Financial Futures Exchange. The Company issued 44,559 private equity products through the China Securities Inter-agency Quotation System and OTC market, with a total amount of RMB338.330 billion. The Company became the lead market maker for stock index options of the China Financial Futures Exchange, and was granted the SSE’s 2023 Stock Option Market Development Contribution Award (Outstanding Option Market Maker Award and Contribution to New Option Varieties Award), the SZSE’s 2023 Outstanding ETF Liquidity Provider Award and Outstanding Option Market Maker Award, and the CFFEX’s 2023 Outstanding Stock Index Option Market Maker Award (Bronze Award). As the end of June 2024, the Company provided market-making services to 47 NEEQ enterprises while its bond market-making business created the “GF Securities Pearl River Delta ESG Sustainable Development Local Debt Basket ” to help market institutions actively participate in the green economy construction and sustainable development in the Pearl River Delta through portfolio investment.At the same time, as a primary dealer of OTC derivatives business with professional advantages in derivatives pricing and trading, the Company continued to strengthen the construction of team and system, enhanced product creation, strategy innovation and trading and sales capabilities, and diversified and expanded its product system, types of underlying products and revenue structure, so as to continuously provide institutional customers with asset allocation and risk management solutions through OTC derivatives.The Group continued to promote the research-driven business model and gave full play to the empowerment and promotion effect of research on the Company’s core business. As of the end of June 2024, the Group’s equity research covered 28 industries and 993 A-share listed companies in mainland China, and 154 Hong Kong and overseas listed companies. The Company achieved research results based on digital means such as GF research portal and mini programs, continued to explore in the direction of intelligence, and strived to build a multiplatform, multi-channel and multi-dimensional customer service system. During the Reporting Period, the industrial research institute of the Company continued to build an ecosystem of production, learning, research, investment and financial integration, empowered the development of various business segments, provided research support for policy formulation and industrial planning of government departments, and explored the establishment of industrial incubation and transformation cooperation mechanism with key scientific research universities to play a role as a bridge of “technology-finance-industry.The outstanding research capacity of the Company enjoys a high reputation in the industry and received numerous honors. The Company has received the New Fortune Domestic Best Research Teams and the New Fortune Most Influential Research Institution  for consecutive years from 2017 to 2023, and Top 5 Golden Bull Research Institution  award by China Securities Industry Analyst Golden Bull Award  for consecutive years. Meanwhile, it ranked in the forefront in the selection of Sell-side Analyst Crystal Ball Award , Best Analyst of Shanghai Securities News, the Golden Kirin  Best Analyst of Sina Finance and the Gold Analysts of the 21st Century .Continuous Improvement of Investment Banking Business with Outstanding FunctionalitiesGuided by customer demand, the Company has built an investment banking service system with a full business chain throughout the life cycle. During the Reporting Period, the Company actively implemented the national strategies and regulatory policies by adhering to the fundamental purpose of serving the real economy with finance and giving priority to functionality; focused on serving the development of new productive forces and national strategic emerging industries by deeply exploring “specialized, sophisticated, distinctive and innovative” enterprises and effectively fulfilled its responsibility as a “gatekeeper” in the capital market.In respect of domestic equity financing, as of the end of June 2024, the Company sponsored 43 companies listed on the NEEQ as the lead brokerage, of which 76.74% were “specialized, sophisticated, distinctive and innovative” enterprises. In respect of overseas equity financing, the Company completed two Hong Kong IPO projects including one IPO project as a sponsor with an issue size of HK$1.046 billion, ranking third in the market; completed two refinancing projects with an underwritten amount of HK$4.881 billion; and its equity financing business in Hong Kong ranked third among Chinese-based securities companies in terms of the total issuance size of IPOs and refinancing projects equally distributed among all underwriters, according to the statistics of Dealogic.In respect of bond and financing business, the Company attached great importance to serving national strategies and facilitated technological innovation enterprises to develop new productive forces; steadily enhanced its market position through leveraging the Group’s synergistic advantages, consistently expanding key regions, strengthening internal assessment mechanism and other measures, on the basis of a strict control of business development risk; and actively practices ESG to promote the green and lowcarbon development through bond and financing business. During the Reporting Period, the Company acted as the lead underwriter for 293 tranches of bonds, representing a year-on-year increase of 70.35%, with a lead underwritten amount of RMB152.428 billion, representing a year-on-year increase of 64.63%; acted as the lead underwriter for 52 tranches of various science and technology innovation bonds with an underwritten amount of RMB19.128 billion; and acted as the lead underwriter for 4 tranches of various low-carbon transformation and green bonds with an underwritten amount of RMB1.088 billion. In respect of Chinese offshore bond business, 33 bonds were issued with an underwritten amount of US$5.617 billion.In respect of financial advisory business, centered around the guidance of national industrial policies, financial policies and regional development policies, the Company practiced the business model of “One Guangfa” by holding a forum on merger and acquisition of new productive forces and building a merger and acquisition business ecosystem to provide customers with multi-level and all-round comprehensive services, promoting the orderly circulation of assets and capital. During the Reporting Period, the Company completed two projects in major asset restructuring and financial advisory business that had industry and regional influence, involving a total transaction amount of approximately RMB12.851 billion; and completed one overseas equity transaction, involving a transaction amount of approximately HK$1.098 billion. Two transactions in which the Company acted as buyer’s financial advisor were awarded the 2023-2024 Top Ten Domestic M&A Golden Whistle Award.In the future, GF Securities will continuously commit to its corporate values of “inquisitiveness and integrity” and carry forward its excellent cultural genes of an “army of doctors”, with knowledge as the guarantee and professionalism as the cornerstone, continue to deepen and consolidate the Company 's outstanding location advantage  in the Guangdong-Hong Kong-Macao Greater Bay Area and other places, deploy long-term strategies to well develop business with higher standard, accelerate high-quality development and contribute to serving the real economy. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com) - Legend Holdings Corporation (“Legend Holdings” or the “Company”, Stock Code: 3396. HK) announces the unaudited condensed consolidated interim results of the Group for the six months ended 30 June 2024 (the “Reporting Period”). In the first half of 2024, adhering to high-quality development driven by technological innovation, Legend Holdings prioritized stability while pursuing progress, responded to changes in macro factors, strived to develop new quality productive forces, and the Company’s core competitiveness was steadily improved. During the Reporting Period, the Company recorded revenue of RMB233.4 billion, representing a 16% year-on-year increase, with net profit increasing to RMB2.805 billion. The net profit attributable to equity holders of the Company was RMB286 million, and this year-on-year decrease recorded was primarily due to the increasing complexity and uncertainty of global economy, which had impacts on profits contributed by diversified-industries operation segment as well as the investment business of industrial incubations and investments segment.During the Reporting Period, Legend Holdings continued to drive industrial innovation through sci-tech innovation, emphasizing new quality productive forces as a key focus for the enterprise’s high-quality development, expanding its presence in frontier industries such as artificial intelligence, biopharmaceuticals, advanced materials and new energy, while exploring emerging frontiers and achieving positive outcomes in building up modernized industrial system. The Company has been committed to increasing its investment in technology development and innovation, with accumulated R&D investments increasing 3.4% to RMB7.3 billion. Lenovo Group, a subsidiary of Legend Holdings, achieved milestone breakthroughs in strategic products, including the launch of the first AI PCs worldwide and several AI servers. Meanwhile, the Legend Holdings Family Group has stepped up developments in frontier industries such as advanced materials, innovative drugs, biomanufacturing, and commercial space. Legend Holdings has also made forward-looking investments, making early moves in new sectors such as quantum technology and life sciences, which are expected to become the growth drivers for new quality productive forces. During the Reporting Period, Legend Holdings has invested in nearly 40 technology projects, and to date, the Company has invested in a total of 120 national specialized and innovative “little giant” enterprises, maintaining an industry-leading position.Legend Holdings has always been committed to serving national strategic needs and actively promoting the high-quality development of the manufacturing industry chain. By advancing new industrialization and boosting China’s strategic strength in manufacturing, and digital development, Legend Holdings has promoted the intelligent transformation and upgrading of China’s manufacturing industry. Currently, 90% of China’s top 500 manufacturers, over 1,000 leading manufacturing enterprises, and more than 2,000 growth manufacturing enterprises have received support from the Legend Holdings Family Group. Meanwhile, funds under the management of Legend Holdings have invested over RMB20 billion in the manufacturing sector, promoting the listing of dozens of manufacturing enterprises and fostering about 20 niche-sector leaders in the industry. As the world’s leading AI full-stack product portfolio and solution service provider, Legend Holdings has intensified its efforts to expand its footprint in AI and promote AI applications and built a vibrant AI+ application ecosystem with cumulative investments in over 250 AI-related companies. Meanwhile, Legend Holdings has actively promoted the industrialization of digital sectors and digital transformation of various industries. This includes supporting the proactive construction of digital infrastructure, and building a nationwide integrated computing power network to advance the deep integration of the digital economy with the real economy.Legend Holdings has always insisted on integrating the green concept into its high-quality development and actively fulfilled its social responsibilities. Lenovo Group was the first domestic high-tech manufacturer to pass the Science Based Targets initiative (SBTi) net-zero target validation, and its MSCI ESG rating remains at AAA, the highest rating in this assessment. A number of green industrial projects newly laid out by Levima Advanced Materials were completed in the first half of the year, and multiple projects are scheduled to be completed and put into production in 2025. ZQET Group is expanding in the photovoltaic industry. It has invested in a 20GW N-type high-efficiency solar cell smart manufacturing project, with the first phase already in operation and its core products ranking among the top tier of the industry. Meanwhile, Legend Holdings focuses on systematic planning and long-term investment in public welfare areas such as “rural revitalization”, “innovative technology” and “promoting righteousness”, and has been keeping contributing Legend's value to the society.In the face of challenges and opportunities, Legend Holdings will continue to deepen the high-quality development led by scientific and technological innovation. While strengthening its industrial foundation and optimizing the resource allocation, the Company will expand its presence in frontier areas, cultivate emerging and future industries, further focus on new quality productive forces, and build its new core competitiveness. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com)  Beijing Tong Ren Tang Chinese Medicine Company Limited (“Tong Ren Tang Chinese Medicine” or the “Company”, Stock code: 3613.HK) is pleased to announce the unaudited results of the Company and its subsidiaries (collectively referred to as the “Group”) for the six months ended 30 June 2024 (the “Period”).In the first half of 2024, facing challenges such as the sustained strength of the Hong Kong dollar, changing consumption patterns, and a sluggish retail industry in Hong Kong, China and Macau, China regions, the Group responded proactively and made simultaneous efforts from multiple dimensions of products, marketing, research and development, and production. This ensured the stable operation of its business and the continued consolidation of its market-leading position. During the Period, the Group achieved revenue of HK$ 664.5 million, net profit of HK$ 240.3 million, and profit attributable to owners of HK$ 219.8 million, with earnings per share of HK$ 0.26.By market segment, during the Period, the Group further enriched its product matrix and optimized its retail market layout. The Hong Kong, China market achieved revenue of HK$333.8 million, with 30 retail terminals, a net increase of 3 terminals compared with the previous year. In the markets outside Mainland China (excluding Hong Kong, China,), the Group accelerated its brand market expansion and steadily promoted its internationalization, achieving revenue of HK$214.4 million. In addition, the Group achieved revenue of HK$116.3 million in Mainland China market.Sufficient momentum from technological innovation, new breakthroughs in production and R&DThe development of science and technology has provided new technical support and growth strategies for the advancement of traditional Chinese medicine (“TCM”). During the Period, the Group leveraged technological innovation as a driving force, empowering intelligent upgrades in production and enhancing product excellence and innovation. This has helped accumulate new momentum for future growth and supported the inheritance and innovation of TCM.Product quality is the lifeline of an enterprise. At the production level, the Group’s production and R&D base in Tai Po consistently upholds stringent standards and rigorous procedural controls. The Group has successfully secured Hong Kong, China’s GMP and ISO22000 certifications, with its product quality has been recognized. Additionally, to further enhance the cost competitiveness of its products, the Group has intensified efforts in revamping and upgrading its production layout. By increasing mechanization and automation, the Gorup has effectively reduced production costs and boosted productivity, thereby ensuring consistent product availability in the market.In terms of products, the Group intensifies its R&D efforts, actively diversifying its product matrix and expediting the translation of scientific research outcomes. During the Period, the Group completed the production of a number of new registered proprietary Chinese medicines and health food products, including Guizhi Fuling Wan , Lingzhi Turmeric Compound Blood-supplementing and Nerve-calming Capsules , Wolfberry Coffee Mix , Red Ginseng Coffee Mix  and Sporoderm-broken Ganoderma Lucidum Spores Chocolate . The Group also plans to commence the production of Qiyao Pills ) and Jinshui Liujun Jian Granules. In April this year, the Group’s self-developed product, Danggui Buxue Keli, were awarded the Certificate of Registration of Proprietary Chinese Medicines (HKC-18604) issued by the Chinese Medicine Council of Hong Kong, China, further enriching the Group’s product portfolio. In May this year, the Group’s invention patent (Patent Number: ZL 2023 1 1206874.8) for “a freckle-removing and whitening product along with its preparation method and uses was successfully granted by China National Intellectual Property Administration and has been applied to Ageing-Defying Collection of the Tong Ren Tang’s Chinese anti-aging NMN series.In addition to preserving and advancing TCM services, the Group is also expanding into new health concept areas. During the Period, the Group entered into a Memorandum of Understanding with Deer Industry New Zealand to promote innovative health-functional deer food products, assisting both parties in collaborative development, registration and marketing efforts. The Group will give full play to strengths in both its proprietary brand and Chinese medicine, combined with the resource advantages provided by New Zealand, the origin of deer velvet, to accelerate the R&D of New Zealand deer products and the deployment of the industrial chain configuration, and continue to expand into new health domains.Moving forward, the Group will continue to strengthen its cooperation with internationally renowned institutions and research organizations such as the University of Hong Kong, Hong Kong Baptist University and the University of California, to conduct research on the safety and mechanism of key products such as Tong Ren Tang’s Angong Niuhuang Wan , Ganoderma Lucidum-related products and Tong Ren Niu Huang Qing Xin Wan, in order to further expand its scientific research results, and to provide a reliable scientific basis for the entry of its products into the mainstream markets overseas in the future. The Group adheres to the highest standards of superior, pure and genuine traditional Chinese medicinal materials, and brings together the essence of the intangible cultural heritage culture and exquisite craftsmanship, as well as strict and meticulous production to fully embody the Group’s motto: “Never cut corners on labour and quality, no matter how complex the process or how costly the materials”. This philosophy not only enhances the health value delivered to customers but also provides the Group with a stronger growth momentum.Orderly market expansion and diversified marketing to strengthen brand effectIn terms of market expansion, on the one hand, the Group has continuously introduced new products to consolidate and expand its market share. During the Period, the Group launched new products, including the Tong Ren Tang’s Chinese anti-aging NMN series – the Youth Prime Collection  and the Age-Defying Collection, the Guizhi Fuling Wan , and Wood Lok Medicated Oil , broadening its product range. At the same time, the Group further expanded its retail presence in Hong Kong, China by opening three new retail outlets in North Point, Mong Kok, and West Kowloon. The North Point and West Kowloon stores also offer Chinese medical consultation and treatments to reach a wider customer base.In terms of product marketing, the Group has intensified its marketing efforts to increase product recognition. Specifically targeting the “major variety” products, such as Tong Ren Tang Angong Niuhuang Wan and Sporoderm-broken Ganoderma Lucidum Spores Powder Capsule and Tong Ren Niu Huang Qing Xin Wan, the Group promoted and advertised the brand and products through an omni-channel approach, integrating special festivals and themes to create consumer hotspots. Moreover, the Group has also advanced the development of both online and offline channels, continuously expanding its sales channels to meet the demands of post-pandemic era business models.In terms of brand promotion, the Group capitalized on its participation in major events, significantly enhancing its promotional efforts and accelerating the brand market expansion. During the Period, serving as a critical portal for Beijing Tong Ren Tang’s international development, the Group participated in the 2024 Wuzhen Health Conference, showcasing its flagship products and a variety of new products. In implementing the “Belt and Road” initiative, the Group leads time-honored brands venture into the world and integrates into the international arena. By adopting the “bring in” and “go global” strategy, the Group is promoting the rich and profound TCM culture, further disseminates Chinese health wisdom globally to benefit more people.Additionally, the Group has enhanced its brand image and influence through public welfare activities. The Group has actively encouraged its overseas retail outlets that offer Chinese medical consultations and treatments to provide charity Chinese medicine clinic services. This initiative embodies the Group’s philosophy of “introducing medicine through treatments” and supports its brand development. In Hong Kong, China, the Group has fully supported and participated in public welfare activities, demonstrating to society and the public the Group’s corporate spirit of “Nurturing kindness and virtue, preserving tranquility and wellness ”. Through its services and products, the Group is dedicated to deeply embedding the Tong Ren Tang brand, products and Chinese medical consultation and treatments services into the community, spreading the culture of Tong Ren Tang while encouraging a healthy lifestyle among community residents.Future ProspectsWith the ongoing economic and social development, an intensifying aging population trend, and the increasing health awareness among residents, the pharmaceutical consumption market is expected to expand continuously. TCM, as a crucial sector of the pharmaceutical industry, continues to hold significant potential for growth in the global market.In the future, the Group will continue to strengthen R&D efforts and expand its proprietary product matrix, including products such as Ganoderma Lucidum series and anti-aging series, to create diversified growth engines and drive the realization of high-quality developmental transformation within the Group. At the same time, the Group will focus on business development by enhancing its new retail layout, accelerating the introduction of new products, continuously advancing the registration of Tong Ren Tang’s key products in Vietnam, innovating business models, and reinforcing its core competitive advantages. By leveraging the development of new quality productive forces as its engine, the Group strives to achieve sustained growth in its business scale. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com) - Liuzhou, a key industrial hub in Southwest China, has long been a pioneer in China's industrial history. From manufacturing Guangxi's first automobile and aircraft before the founding of the People's Republic of China to becoming the second-largest industrial city in South China during the reform era, Liuzhou has consistently thrived with the times.Today, as Chinese automotive companies expand globally, Liuzhou's businesses are once again at the forefront, with Wuling Motors (0305.HK) serving as a prominent example.On August 22, Wuling Motors announced its interim results for 2024, demonstrating strong performance across its three main business segments. The company is actively enhancing its high-quality production capabilities and exploring growth opportunities abroad, achieving impressive results in its international ventures.In the first half of 2024, Wuling Motors made significant strides in its overseas expansion: exporting auto parts to Vietnam, golf carts to Egypt, and new energy logistics vehicles to South Korea, as well as establishing a research and development center in Hong Kong...Wuling Motors is sending a clear message to the world: The company's future is bright, with limitless potential.(I) Moderate Growth in Auto Parts and Other Industrial Services RevenueAccording to Wuling Motors' 2024 interim report, the company achieved a revenue of CNY 3.946 billion in the first half of this year, with a gross profit of CNY 426 million. Net profit surged 72.3% to CNY 21.125 million compared to the same period last year.Breaking down the segments, the auto parts and other industrial services business recorded a revenue of CNY 2.698 billion in the first half of the year, up 6.1% year-on-year. During this period, Wuling Motors focused on consolidating its existing market while aggressively expanding into new territories. The company aimed to break into growth markets dominated by giants like Great Wall Motors, Chery, and BYD. Sales to newly acquired customers surged to CNY 1.042 billion, accounting for 38.6% of the divisional revenue.Wuling's Jingmen base in Hubei, dedicated to supplying Great Wall Motors, rapidly scaled up its production, generating CNY 334 million in revenue in the first half of the year. It successfully delivered frame assemblies for two Great Wall models, breaking the record for the highest first-month delivery of a new product. Additionally, Wuling's domestic ultra-high-strength steel tube hydroforming production line - a first in China - successfully commenced mass production, supplying 13 hydroformed products to premium models from brands like Great Wall and BYD.The auto parts and other industrial services segment posted an operating profit of CNY 75.883 million in the first half of the year, up 44.3% year-on-year.In the automotive power systems segment, Wuling Motors achieved CNY 902 million in revenue. While strengthening its traditional power technology upgrades, Wuling Motors accelerated its layout of new energy power integration development, speeding up its new energy business initiatives. In the first half of 2024, Wuling accelerated the establishment of a comprehensive product matrix for hybrid and battery electric powertrains and core components, advancing production capacity and rolling out new products and technologies. By promoting its products, Wuling Motors has focused on building lines and improving processes for motors, motor controllers, rotors, and stators, securing new energy market collaborations with JAC Motors and Changan Kaicene.The commercial vehicle segment posted CNY 331 million in revenue in the first half of the year, primarily seeking breakthroughs in high-value-added sub-sectors.Wuling Motors achieved a gross profit margin of 10.8% in the first half of 2024, a significant increase of 270 basis points from 8.1% in the same period in 2023. This impressive growth was largely driven by declining prices for raw materials, such as steel. Additionally, the ramp-up of higher-margin products further contributed to the substantial improvement in the company's profitability.(II) Striking the Main Chord of Overseas ExpansionIn the 1960s and 1970s, Liuzhou's tractors were exported to Vietnam and Rwanda in Africa, and in 1990, its microcars were shipped to Thailand. Liuzhou-made vehicles have consistently ventured overseas.Today, Liuzhou's automotive industry faces another historic opportunity for overseas expansion.As domestic market demand becomes saturated, expanding abroad has become essential for Chinese companies, and overseas markets are emerging as the new "blue ocean."For example, Guangxi's exports were robust in the first half of the year. According to customs statistics, Guangxi's import and export trade reached CNY 345.28 billion in the first half of 2024, up 12% year-on-year. Exports alone hit CNY 191.8 billion, a record high, rising 28.5%. Exports of major categories like mechanical and electrical products and labor-intensive products were CNY 109.18 billion and CNY 37.3 billion, respectively, growing by 26.8% and 48.5% and accounting for 56.9% and 19.4% of Guangxi's total exports.In the automotive market, "intense competition" and "overseas expansion" are the current hot topics. According to the China Association of Automobile Manufacturers (CAAM), in July 2024, China exported 469,000 vehicles, up 19.6% year-on-year. From January to July 2024, China's auto exports reached 3.262 million units, up 28.8%. Among these, exports of battery electric vehicles totaled 554,000 units, and plug-in hybrid vehicles reached 154,000 units, representing a 180% increase year-on-year.Specifically in Liuzhou, more than 90,000 vehicles were exported through Liuzhou Customs in the first half, up 23.8% year-on-year; of these, over 10,000 were new energy vehicles (NEVs), a surge of more than 30-fold.Wuling Motors has seized this trend, charting a course for global success.Take the Wuling golf cart as an example. With its strong handling, lightweight design, comfortable ride, and powerful performance, the Wuling golf cart has been highly favored by overseas customers. Since its launch, it has been sold in countries across Southeast Asia, Central Asia, Europe, and America.Earlier this year, Wuling Industrial, a subsidiary of Wuling Motors, showcased its new multi-purpose golf/community vehicles at the 71st PGA Merchandise Show in Orlando, USA, drawing significant attention. On April 15, the 135th Canton Fair kicked off in Guangzhou, where Wuling Industrial's golf carts attracted buyers from 205 countries and regions worldwide. On May 22, Wuling Industrial shipped about 200 golf carts to Egypt, expecting to complete delivery in the third quarter.Wuling Motors' joint venture, Wuling New Energy, also broke new ground with its G050 left-hand drive battery electric logistics vehicle. In March 2024, the company secured its first order of 300 units with South Korea's Daechang Corp, marking a breakthrough in the Korean market.Currently, Wuling's sightseeing vehicles, golf carts, and other products are exported to countries such as Vietnam, Singapore, Thailand, the USA, and Australia. Its new energy logistics vehicles have also penetrated traditional automotive powerhouses or regions such as the USA, Japan, and Europe, laying a solid foundation for expanding into the international market.This achievement is due to Wuling Motors' strategic planning.In recent years, Wuling Motors has accelerated its overseas expansion, with subsidiaries in India and Indonesia continuing to strengthen their presence. These efforts, focused on promoting the localization and launch of new models with key clients, have proven highly effective, helping Wuling penetrate new customer bases and meet international standards.On the product side, Wuling Motors has further enriched its product lineup, with more auto parts poised to enter global markets. In a major breakthrough, Wuling's self-developed rear drive axle assembly and drive system assembly for new energy passenger vehicles successfully entered the overseas market in the first half of this year. This achievement marks a departure from the traditional three-section axle housing structure, instead adopting a hydraulic expansion integral axle housing technology, which has been well-received by customers. On the channel side, Wuling is leveraging Hong Kong as an export conduit for its new energy business, boosting overseas sales for the group and its joint ventures.On the research and development front, Wuling Motors has established an innovation center in Hong Kong and signed memoranda of understanding (MOUs) with Hong Kong Polytechnic University (PolyU) and the Chinese University of Hong Kong (CUHK) to focus on NEV technology, jointly promoting the conversion and application of scientific research results.(III) Driving Global Growth Through High-Quality ProductionIn global competition, technology reigns supreme. Wuling Motors has been a pioneer in the NEV sector, steadfastly pursuing the development of NEVs. With a goal of deriving more than 50% of its business from NEV operations, Wuling is laying a solid foundation to become a front-runner in the new energy vehicle era as it ventures into overseas markets.In the auto parts business, Wuling Motors continues to align with the "passenger-focused" and "electrification" upgrades of its customers' products, continuously developing passenger vehicle products while actively supporting new energy vehicle models for major customers.Currently, Wuling Motors has successfully developed and optimized a range of products, including new energy electric rear axles, motors, motor controllers, range extenders, and hybrid systems. This year, the production of core components such as electric axles and hybrid engines has seen steady growth.After surpassing the milestone of producing one million units of micro electric axles, Wuling's coaxial electric drive axle became the first to achieve commercialization in China. It has been adopted by brands such as Changan Kaicene, Ruichi, and JAC Motors. Wuling Motors also secured orders from leading companies like Chery and Geely for electric axles used in mainstream NEV commercial vehicles. At Wuling's Jingmen base, which supplies auto parts to Great Wall Motors, business has flourished, with over 50% of its products sold in the first half of 2024 being NEV parts, generating CNY 333 million in revenue.In automotive power systems, Wuling Motors has made remarkable progress in developing and mass-producing high-efficiency engines and new energy power systems. Their strategy seamlessly integrates traditional power technology upgrades with new energy power innovations, resulting in a robust product lineup. In the first half of 2024, Wuling Motors focused on enhancing production lines and processes for motors, motor controllers, and rotors and stators. The H-platform ultra-high-efficiency engine has been successfully commercialized, securing projects with NEV clients like JAC, Changan, and Skyworth. Additionally, Wuling's casting sales reached 515,000 units, up 26.2% compared to the same period in 2023.In the commercial vehicle segment, Wuling focuses on specialized modification markets such as cold chain vehicles, sanitation vehicles, and medical vehicles. Their specialty products, including refrigerated trucks, sanitation trucks, and fire trucks, have been delivered to regions like Shandong, Zhejiang, Hunan, and Beijing. Leveraging its customization capabilities, Wuling has partnered with PepsiCo to develop a "mobile new retail" model, delivering over 100 Wuling vending trucks to PepsiCo and accelerating the expansion of mobile commerce.Wuling's joint venture, Wuling New Energy, is actively upgrading its brand and market position. They launched the long-range Golden Storage Mid-size Logistics Vehicle to quickly capture market share, achieving monthly sales exceeding 1,000 units in the first three months after launch. Additionally, Wuling New Energy is aggressively expanding into international markets, increasing exports to countries such as the USA, Japan, and South Korea. In the first half of 2024, Wuling New Energy sold approximately 7,900 NEVs, a 68.1% increase compared to the same period in 2023.It is evident that Wuling Motors' strategic direction is becoming increasingly clear.With a comprehensive business layout and a full range of products, Wuling has created synergies across its industrial chain, positioning itself as Guangxi's most comprehensive leading automotive group in the supply chain. With unparalleled control over product quality, cost, scale, and customer relations, Wuling has built a formidable competitive advantage.As the NEV era rapidly approaches, Wuling Motors is fortifying its dominant businesses, focusing on high-tech, competitive, and high-end flagship auto parts, expanding markets for high-value specialized modified vehicles, and advancing its NEV key parts and vehicle business.With these foundations, Wuling is boldly venturing overseas, aiming for growth through globalization and efficiency in management, poised for even higher-quality development in the new era. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com) - On 28 August 2024, Fosun International (HKEX: 0656) announced its 2024 interim results. During the reporting period, its revenue continued to grow, reaching RMB97.84 billion. Industrial operation profit maintained growth, reaching RMB3.47 billion, and profit attributable to owners of the parent was RMB720 million.Guo Guangchang, Chairman of Fosun International, said at the results presentation on the morning of 29 August, “In the first half of the year, although the macro environment remained challenging, we resolutely executed our strategy of focusing on core businesses, developing industry-leading companies and products in the industries where we have formed advantages. Such strategy has been proven effective in general. Looking ahead, we will remain focus on innovation and globalization, while focusing on asset-light operations, driving long-term development with competitive core strengths.”Since the beginning of 2024, the domestic economic recovery has been rocky and the international market has remained volatile, which has brought challenges to Chinese companies including Fosun. Fosun steadfastly pushed forward its strategic focus, driving development with core strengths, achieving quality and efficiency improvement in core industries, and maintaining a solid asset base.Analysts believe that, based on Fosun’s interim results, Fosun’s focus on the core industries in the household consumption sector and its proactive approach to driving innovation and globalization have further reinforced its business foundation, resulting in predictable stable profits. Additionally, over the past two years, Fosun has actively pursued asset-light operations, optimized asset portfolio, and continued to reduce leverage. These efforts have resulted in abundant cash reserves and a stronger financial cushion, which are expected to prompt the market to reassess Fosun’s value.Staying ahead in globalization and innovation, reinforcing business foundation to develop industry-leading companies and products      In the first half of the year, Fosun’s four core subsidiaries, namely Fosun Pharma, Yuyuan, Fosun Insurance Portugal, and Fosun Tourism Group (“FTG”), achieved total revenue of RMB72.17 billion, accounting for 74% of the Group’s total revenue. Fosun’s strategy of focusing on core businesses has shown increasing benefits, with its advantages in core industries such as pharmaceuticals, tourism, consumption, and insurance continue to be strengthened.With years of effort in the aforementioned sectors, Fosun has developed a number of industry-leading companies and products.For example, in the first half of this year, Fosun Pharma, which ranks second among the top 100 pharmaceutical companies in China, was selected as one of top 20 global pharmaceutical companies in terms of pipeline scale for the third consecutive year. Shanghai Henlius is the first Chinese profitable innovative biopharmaceutical company listed in Hong Kong, with multiple independently developed monoclonal antibody biosimilars that are driving the rapid development of China’s biopharmaceutical industry. Its first blockbuster product, HANLIKANG, is the first domestic biosimilar approved for marketing. Fosun Insurance Portugal holds the largest market share in the Portuguese insurance market and ranks among the leaders in the insurance sector across Portuguese-speaking regions globally. Easun Technology, in the intelligent manufacturing segment, is a global leading automation and digitalization company.In addition, in the Happiness business segment, Club Med, a subsidiary of FTG, is the global leader that offers exquisite “all-inclusive” holidays. Atlantis Sanya is the leading integrated high-end tourism destination in China, helping to usher Hainan tourism into the 3.0 era. Laomiao Gold, a subsidiary of Yuyuan, is a China time-honored brand and a nationally renowned jewelry brand. These industry-leading companies and products have helped Fosun consolidate its leading position in related sectors.For Fosun, steady and profitable growth is driven by two factors: innovation and globalization.Amid the current domestic economic “involution”, “going global” has become a “must-do” for businesses. Fosun, which began its globalization journey as early as 2007, has become one of the benchmark global companies rooted in China. It has also established a profound industrial presence in more than 35 countries and regions worldwide.During its 17-year globalization journey, Fosun has achieved many successful projects and faced various challenges. Most importantly, this experience has allowed Fosun to develop globalization capabilities that rare among domestic companies. In addition, it has allowed Fosun to connect different markets, industries, and resources globally, achieving global presence, operations and development, while continuously enhancing its global operation capabilities.This is further illustrated by the following data, the Group’s overseas revenue for the first half of 2024 reached RMB45.87 billion, representing a year-on-year increase of 4%, and accounting for 47% of total revenue. Nearly half of the revenue came from overseas, which is rare among Chinese companies.More importantly, Fosun has actively driven the empowerment and synergy of its corporate ecosystem in the course of globalization. Its domestic and overseas member companies have made significant progress in global research and development (R&D), business expansion, operations, and investment and financing.For example, HANQUYOU, independently developed by Fosun’s subsidiary Shanghai Henlius, received marketing approval from the United States (U.S.) Food and Drug Administration (FDA), making it a “Chinese” monoclonal antibody biosimilar approved in China, the European Union (EU), and the U.S. HANLIKANG, China’s first biosimilar, received marketing approval from the Peruvian General Directorate of Medicines, Supplies and Drugs (DIGEMID) in Peru, making it the third self-developed drug of Shanghai Henlius to be approved for overseas marketing after HANQUYOU and HANSIZHUANG.Moreover, Club Med, a subsidiary of FTG that operates 67 resorts worldwide, achieved a record-high business volume of RMB8.89 billion in the first half of 2024, representing a year-on-year increase of 10.3%. Club Med’s business in the Europe, Middle East and Africa (EMEA) region and the Americas continued to grow, and its business in Asia-Pacific region recovered significantly. In May 2024, Club Med signed an agreement in Oman for the launch of its first resort in the Middle East.Fosun Insurance Portugal, which began its operations in Portugal, has been actively expanding into overseas markets. In the first half of 2024, it achieved business growth domestically and internationally. The contribution from overseas markets further increased, with international business recording premiums of EUR885 million, accounting for over 30% of the total premiums; the net profit of international business was approximately EUR51 million, accounting for over 40%.Easun Technology, a global leading automation and digitalization company under Fosun, has also been advancing its overseas expansion. In the first half of 2024, it achieved new overseas orders of RMB3.99 billion, with a significant increase in orders from the U.S. market, reaching RMB750 million, more than doubling year-on-year.Innovation is also a core competence that Fosun has accumulated over a long period of time and has always adhered to. During the reporting period, Fosun invested a total of RMB3.5 billion to deepen its technological and innovation capabilities. Its integrated innovation model under a global vision has become more mature, resulting in a number of ground-breaking achievements that are steadily generating profits and driving Fosun’s growth.In terms of innovative drug R&D, Fosun Pharma has 4 products with a total of 9 indications were approved for marketing; 4 products with a total of 9 indications had entered the pre-launch approval stage/key clinical stage; and 9 products (by indication) have been approved to conduct clinical trials. Shanghai Henlius’ independently developed and manufactured innovative biologics continue to make breakthroughs. The world’s first anti-PD-1 monoclonal antibody for the first-line treatment of small cell lung cancer (SCLC), HANSIZHUANG, has been approved for 4 indications, benefiting over 75,000 patients. It has also been out-licensed to over 70 countries and regions, including the U.S., Europe, Southeast Asia, the Middle East, and North Africa. In addition, the new indication for SUKEXIN, a new generation of oral thrombopoietin receptor agonist (TPO-RA), has been approved by the National Medical Products Administration (NMPA).New progress has also been made in the deployment of cutting-edge medical devices and innovative therapies. In June 2024, Intuitive Fosun Headquarters Industrial Base was inaugurated in Shanghai. It is the largest integrated R&D, production and training base of Intuitive Surgical in the Asia-Pacific region, significantly accelerating the localization of the da Vinci surgical robot. Intuitive Fosun’s Ion robotic bronchoscopy was approved by the NMPA in March this year and was launched in July 2024.“Asset-light operations” taking shape, poised for revaluationBenefitting from the strong support in its business operations, Fosun’s financials have also continued to improve. During the reporting period, Fosun continuously optimized its asset portfolio, continuously reduced leverage, and maintained a sound financial position. As of 30 June 2024, the Group’s adjusted total debt-to-capital ratio was 50.2%, maintaining a downward trend since 2020. Adjusted NAV was HK$17.4 per share, indicating that Fosun International’s current share price is significantly undervalued.Meanwhile, Fosun has actively strengthened its financial cushion and maintained ample cash reserves. As of 30 June 2024, Fosun International’s cash and bank balances and term deposits reached RMB109.55 billion, representing an increase of RMB17.1 billion compared to the end of 2023. In the 17 years since its listing, Fosun has accumulatively paid out HK$25.6 billion in dividends, with the dividend payout ratio gradually increasing to over 20% in the past five years.In June 2024, the international rating agency S&P fully recognized the effectiveness of Fosun’s financial strategy and affirmed its rating outlook as “stable”.While achieving stable profits through ongoing innovation and globalization, Fosun has also responded to the new market environment by streamlining its business. It has progressively exited some non-core industries and has actively advanced its asset-light strategy, which is now taking shape.In May 2024, Fosun sold all of its 99.74% stake in the German private bank HAL, which attracted market attention. After the completion of the transaction, Fosun will no longer hold any shares in HAL, but will retain the HAFS asset servicing business, managing approximately EUR100 billion in assets in an asset-light operation model.In the tourism sector, Fosun’s asset-light operation model has achieved remarkable results, with IPs such as Club Med, Atlantis Sanya, and Taicang Alps becoming benchmarks in the domestic tourism industry. In the first half of 2024, 85% of Club Med resorts adopted a leasing and management model, with the proportion of self-owned resorts declining to 15%.In April 2024, the AMAZE Snow Mountain Camp, FTG’s new IP in Lijiang Club Med Resort, quickly became a hit after its opening, driving significant occupancy increases at the nearby Club Med Lijiang Resort and Joy Holiday Hotel Lijiang.In June 2024, FTG joined hands with the Taicang Municipal Government to build the phase II of Taicang Alps Resort, a one-stop ice and snow-themed urban tourist destination. The phase II project, with a total investment of over RMB5 billion, is funded by the Taicang Municipal Government and operated and managed by FTG. The successful operation of the Alps Snow Live has provided confidence and momentum for the phase II project, which is expected to set several world records in ski resorts.Fosun has also joined hands with partners to set up a number of industry funds to drive the future of advantageous industries. In March 2024, leveraging its leading advantages in biomedicine, Fosun Pharma joined hands with Shenzhen Guidance Fund and seven other investors to jointly establish a RMB5.0 billion biomedical industry fund, with all proceeds to be invested in biomedical, cells, genes, etc. Shanghai Fujian Equity Investment Fund Management, a subsidiary of Fosun Pharma, was selected through public selection process in Shenzhen to exclusively manage this fund. In April this year, the Shenzhen Municipal Government and Fosun signed a strategic cooperation framework agreement, both parties will further strengthen cooperation in areas such as biomedicine, cultural and sports tourism, and fashionable consumption.In addition, Fosun Capital, together with Wuhan Innovation Investment and Wuhan Fund, established a RMB3.0 billion industry fund with an initial scale of RMB1.1 billion in April 2024. This is the first batch of market-oriented fund invested by Hubei Province since the establishment of the RMB20.0 billion government guidance fund, mainly focusing on the four major sectors of new generation information technology, dual carbon, intelligent manufacturing, and consumption.Given the current market environment, it is expected that Fosun will continue to focus on asset-light operations, continuously expand its “circle of friends”, strengthen in-depth cooperation with all parties, and achieve win-win results through complementing each other’s advantages.Market analysts believe that Fosun has achieved sustained and stable profits leveraging its core strategies of innovation and globalization. In addition, by exiting non-core assets, pursuing asset-light operations, and continuously reducing debt, Fosun has maintained robust financial health, paving the way for a potential market revaluation.Guo Guangchang believes that in the future, investors will place greater emphasis on the growth of core industries and the stability of cash flow. “One-off asset sales are only short-term solutions. The growth of core businesses is crucial for a company to achieve stable profits.” Fosun aims to build a consumer group centered on core industries, ensuring more predictable business development and profits. At both the group level and within each business unit, Fosun is committed to creating value for its customers and investors that is manageable in terms of risk and promotes steady growth. Copyright 2024 ACN Newswire via SeaPRwire.com.

- Dorzagliatin (trade name: HuaTangNing, world's first dual-acting glucokinase activator (GKA), successfully entered China’s National Reimbursement Drug List for Basic Medical Insurance, Work-related Injury Insurance and Maternity Insurance (the “NRDL”) at the end of 2023. Hua Medicine worked with sales promotion partner Bayer Healthcare Company Limited (“Bayer”) and 80 Tier 1 distributors to begin the pharmaceutical market entry in 31 municipalities and provinces in China.- The new NRDL became effective on January 1, 2024. In the first half of 2024, the sales volume of dorzagliatin increased significantly. As of June 30, 2024, sales of HuaTangNing  reached 846,000 packs with a sales revenue of RMB102.7 million. The sales revenue increased by 46%, compared with the six months ended June 30, 2023.- Dorzagliatin experienced a fast entry into hospitals, especially in Shanghai, Beijing, Tianjin where the government policies support market entry for novel new drugs. By the end of June 30, 2024, dorzagliatin was prescribed in over 2,100 hospitals and over 2,900 pharmacies. Dorzagliatin was sold principally through hospitals (approximately 72% of total sales), with the remainder of sales through pharmacies (20%) and internet drug stores (8%).- Gross profit in the first half of 2024 is RMB47.8 million, representing a gross profit margin of 46.5%. Bank balances and cash position increased by 51.9% to approximately RMB1,338.8 million for the six months ended June 30, 2024, compared with the six months ended June 30, 2023.- Dorzagliatin manufacturing capacity continues to expand, with the expectation to reach 3 million packs in 2024. New processes for larger capacity have been established with our partners and are under regulatory review for production permit.- Post marketing clinical studies proceeded at an accelerated rate, in which HMM0601 enrolled 1,368 patients and HMM0701 enrolled 102 patients. HMM0601 is designed to evaluate the long-term safety of dorzagliatin by collecting 1-year clinical safety data in 2,000 T2D patients and HMM0701 is a prospective real-world study to explore dorzagliatin’s clinical beneficial effects on the improvement of glucose homeostasis, cognitive function and diabetes remission. A good drug safety profile for dorzagliatin has been observed since its commercial launch in October 2022 – a time span of over 20 months and approximately 100,000 patient exposure.- Two Mendelian randomization studies conducted by our collaborating Hong Kong-based clinical investigators, and published in Cardiovascular Diabetology showed that glucokinase activation can lead to long term benefits in reduction of risks in cardiovascular diseases and dyslipidaemia. New clinical indications shall be further explored with our commercialization partner.HONG KONG, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com) -  Hua Medicine (the "Company", HKEx: 2552) today announces the unaudited consolidated results of the Company and its subsidiaries for the six months ended June 30, 2024 (the "Reporting Period"), and the Company’s business progress for the first half of the year and business outlook.Dr. Li Chen, the founder and CEO of Hua Medicine, said, “The first half of 2024 marks a milestone for the commercialization efforts of Hua Medicine. Dorzagliatin's successful inclusion in China’s National Reimbursement Drug List has significantly improved patient accessibility and affordability. Against the backdrop of comprehensive support from the national and local governments for the development of the biopharmaceutical industry, and with the joint efforts of the Company, commercial partners, and production partners, the production capacity of dorzagliatin is rapidly increasing, accelerating its entry into hospitals and pharmacies nationwide to benefit more patients. With the continued growth in the number of users, the safety of dorzagliatin has been well validated, and its economic and social benefits have also greatly increased, instilling confidence in the Company's future development. Through sales expansion and operational optimization, we hope to achieve profitability for the Company by 2025. Currently, Hua Medicine is also conducting basic and clinical research on dorzagliatin globally, aiming to continuously expand its indications and target populations, explore new disease areas, and promote human health and well-being.”Progress of Clinical Research and Company Operations- During the first reporting period under the NRDL, dorzagliatin experienced a fast entry into hospital and pharmacies, especially in Shanghai, Beijing, Tianjin where the government policies support market entry for novel new drugs. The number of hospitals prescribing dorzagliatin exceeded 2,100 in the first half of 2024.- Revenue of dorzagliatin reached RMB102.7 million in the first half of 2024 and is expected to continue to grow in the second half of 2024. As we build off our new foundation under the NRDL, we plan to leverage our well-established partnerships to enhance the dorzagliatin manufacturing process, which is expected to lead to efficiencies, expanded capacity and reduction of cost of goods.- We continued our post marketing clinical studies at approximately 80 hospitals to better understand the benefits dorzagliatin provides to patients with Type 2 diabetes and T2D complications, such as memory loss and diabetes kidney disease. Through our collaboration with our clinical research partners in Hong Kong, we have discovered that glucokinase (GK) activation may bring the benefits of reduction of risks in cardiovascular disease, and dyslipidemia. These results (applying the Mendelian Randomization (MR) methodology) certainly expand our understanding of the benefits of GK activation through dorzagliatin and for uncovering new indications of dorzagliatin in the future. Mendelian Randomization (MR) is a statistical method that uses genetic variants to investigate the causal effects of exposures (e.g., treatments) on outcomes (e.g., diseases). Its unique advantage lies in its reduced susceptibility to confounding and time-related biases compared with observational studies, which is achieved by leveraging the random allocation of genetic variants at conception. In evidence-based medicine, the credibility of evidence from MR is considered to be among the highest, second only to that of randomized controlled trials.- We have advanced our post-marketing real world evidence (RWE) studies HMM0601 and HMM0701 in T2D patients in China, and HMM0123 in Hong Kong, China. In these studies, we are collecting evidence in medical practices for optimization of glucose homeostasis either through dorzagliatin alone or in combination with standard care T2D medications such as metformin, DPP-IV inhibitors, SGLT-2 inhibitors, GLP-1RA and insulin. These results create new evidence for dorzagliatin in the expansion of its indication in diabetes prevention and remission.- We are continuing our drug development pipeline with focus on the fixed dose combination (FDC) of new drug candidates. The new drug Dorzagliatin-Metformin FDC entered manufacturing process validation and our plan is to launch this new medicine for Type 2 diabetes in 2028. Additional new FDC drugs with dorzagliatin will be developed for T2D patients, tailored specifically to address T2D patients with associated complications such as obesity and diabetes kidney disease.- To further leverage the unique advantage of dorzagliatin in restoring GLP-1 secretion in patients with diabetes and obesity, Hua Medicine initiated its Phase I study in the United States with our 2nd generation GKA. The trial has been proceeding smoothly and has already completed dose escalation in three cohorts of T2D patients in the United States. The topline data is expected to be available in the fourth quarter of 2024, supporting future drug development.- At the American Diabetes Association (ADA) Annual Meeting 2024, Hua Medicine reported new scientific data supporting the combination of dorzagliatin with a SGLT-2 inhibitor which led to improvement in glycaemic control. Combination of dorzagliatin with chronic kidney disease (CKD) medicine, such as SGLT-2 inhibitor, empagliflozin, in mid to late stage diabetes kidney disease patients, offers new opportunity to expand dorzagliatin’s indication.- We are exploring more drug repurposing opportunities for dorzagliatin using MR framework, such as renal diseases, neuropathy related diseases, eye related diseases, cognitive disorders, and cancers. Animal studies shall be further performed to validate the promising findings.- We are continuing to optimize our protein allosteric modulation technology (PAMT) and expansion from positive allosteric modulator (PAM), such as GK positive allosteric modulator dorzagliatin, to negative allosteric modulator (NAM) in kinase and G-protein-coupled receptors (GPCR) proteins. The GK NAM program advanced to the pre-clinical candidate (PCC) selection stage and final optimization of the PCC to clinical candidate for congenital hyperinsulinism (CHI), and potentially for dyslipidaemia. We continue to advance mGLUR5 NAM program for its clinical potential in Parkinson’s disease (PDLID), Fragile X syndrome (FXS), and drug addiction.Financial highlightsAs of June 30, 2024,- Bank balances and cash position was approximately RMB1,338.8 million.- Total revenue generated by the Company was approximately RMB102.7 million, reflecting sales of approximately 846,000 packs of HuaTangNing .- Total other income was approximately RMB55.1 million, of which approximately RMB47.8 million was attributable to the amortization of Bayer milestone income.- Total expenditures was approximately RMB245.9 million, of which approximately RMB119.8 million was attributable to research and development expenses.Forward-looking StatementThis article contains the statements regarding the future expectations, plans and prospects for Hua Medicine and the investigational product. The forward-looking statements made in this article relate only to the events or information as of the date on which the statements are made in this article. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. You should read this article completely and with the understanding that our actual future results or performance may be materially different from what we expect as a result of various risks, uncertainties, or other legal requirements.About Hua MedicineHua Medicine is an innovative drug development and commercialization company based in Shanghai, China, with companies in the United States and Hong Kong. Hua Medicine focuses on developing novel therapies for patients with unmet medical needs worldwide. Based on global resources, Hua Medicine teams up with global high-calibre people to develop breakthrough technologies and products, which contribute to innovation in diabetes care. Hua Medicine's cornerstone product HuaTangNing (dorzagliatin tablets), targets the glucose sensor glucokinase, restores glucose sensitivity in T2D patients, and stabilizes imbalances in blood glucose levels in patients. HuaTangNing was approved by the National Medical Products Administration (NMPA) of China on September 30th, 2022. It can be used alone or in combination with metformin on hydrochloride-tolerated T2D patients. For patients with chronic kidney disease (CKD), no dose adjustment is required. It is an oral hypoglycemic drug that can be used for patients with Type 2 diabetes with varying degrees of renal function impairment (including end-stage renal impairment without dialysis). Hua Medicine partnered with Bayer, a leading global pharmaceutical company, to commercialize HuaTangNing  in China, benefiting diabetic patients and their families.For more informationHua MedicineWebsite:  www.huamedicine.comInvestorsE-mail: ir@huamedicine.comMediaE-mail: pr@huamedicine.comDisclaimerFor the accuracy and completeness of the context, references to information related to products launched in China, especially label or requirements, should follow the relevant documents approved by the Chinese regulatory authorities.The above information should not be interpreted as a recommendation or promotion of any drug or treatment regimen, nor should it substitute for the medical advice of any healthcare professional. Please consult a healthcare professional for any matters related to medical treatment. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Baguio Green Group Limited (‘‘Baguio’’ or the ‘‘Group’’, Stock Code: 01397.HK) is pleased to announce its unaudited interim results for the six months ended 30 June 2024 (the Period”).During the Period, the Group’s revenue amounted to approximately HK$1,291.1 million, representing an increase of approximately 16.6% as compared to the same period last year, mainly due to the continued increase in revenue in the cleaning segment together with the waste management and recycling segment. Profit for the Period amounted to approximately HK$25.8 million, representing an increase of approximately 18.5% as compared to the same period last year. The overall gross profit increased by approximately 12.4% to approximately HK$97.1 million.Business Overview and ProspectsIn the first half of 2024, new contracts awarded to the Group amounted to a total of HK$1.48 billion. As a result, the Group’s contracts on hand reached approximately HK$4.60 billion (as of 30 June 2024), representing an increase of approximately 3.8% from approximately HK$4.43 billion as of 31 December 2023, providing strong revenue growth in the second half of 2024 and subsequent years.The Group’s core business, cleaning services, recorded growth during the Period. Revenue from cleaning services increased by 20.1% to approximately HK$1,034.9 million, accounting for approximately 80.2% of the Group’s total revenue. Gross profit of the cleaning business increased by 7.6% to approximately HK$66.4 million, mainly due to the Group’s new cleaning service contracts with various HKSAR Government (the “Government”) departments and different institutions.The Group’s Government-related street cleaning services cover a total of seven districts, serving a population of approximately 2.8 million, marking Baguio’s leading position in the Hong Kong cleaning services market. The Group’s Government venue cleaning services for the Food and Environmental Hygiene Department cover seven districts in Hong Kong. In addition, the Group also provided Government market related cleaning services and leisure venues cleaning services, covering several districts in Hong Kong, as well as other cleaning sites such as hospitals, Government clinics, Hong Kong International Airport, schools, housing estates and private institutions, demonstrating that the Group’s professional services are widely recognised.Waste management and recycling business recorded growth in revenue during the Period which increased by approximately 7.4% to approximately HK$147.3 million, accounting for approximately 11.4% of the Group’s total revenue. Gross profit of the waste management and recycling business increased by approximately 60.7% to approximately HK$19.2 million, mainly due to the “Plastic Recycling Pilot Scheme” entered the harvest period and the related contracts with the Government increased the recycling spots and revenue. During the Period, the Group provided Government-related waste collection services to five districts, serving a population of approximately 1.6 million, and provided collection services for thousands of recycling spots (including plastic, glass bottles, metals, waste paper and food waste) across Hong Kong, and collection services for recycling bins in public places and schools. During the Period, the Group provided Baguio continued to provide plastic collection services for several districts under the Environment Protection Department (“EPD”) Plastic Recycling Pilot Scheme contract. Baguio also provides collection services for Recycling Stations of “GREEN@COMMUNITY”, introduced by the EPD and smart recycling machines, and other institutions in Hong Kong. In addition, the Group also provides the Government with glass bottles collection and management services and food waste collection services in several districts in Hong Kong.Regarding green technology business, the Group launched a smart recycling system through combination of a number of advanced smart digital technologies and Internet of Things technologies. Through a one-stop management and big data analytics platform, the Group can monitor the real-time situation of the recycling machines, and flexibly deploy transportation according to the amount of recyclables, reducing logistics costs and unnecessary carbon emissions. The Group currently provides smart recycling machines to the EPD and smart food waste recycling machines to private housing estates. At present, smart recycling machines and smart food waste recycling machines are now available in different places of Hong Kong, providing the public with a convenient recycling experience 24 hours a day, and helping to increase the overall recycling volume in Hong Kong. The Government is proactively offering financial aids for private housing estates to install food waste recycling machines through the Recycling Fund and the Environment and Conservation Fund. Under the expected market demand created by the strong advocacy of the Government, it is believed that the Group’s food waste recycling machines and related smart technology business will bring huge business opportunities. With the increasing market demand for smart recycling, the Group plans to seize the opportunity of smart city development, striving to expand the market share of smart recycling machines and smart food waste recycling machines.In addition, the Government is actively promoting the “Producer Responsibility Scheme on Plastic Beverage Containers and Beverage Cartons”, and plans to table the bill to the Legislative Council for scrutiny this year with a view to introducing it in 2025. Enshrining the principle of “Polluter Pays” and the vision of “Eco-responsibility”, the recycling rate of plastic beverage containers and beverage cartons is expected to have a significant increase. The scheme is expected to directly drive the growth of Baguio’s recycling business and create solid returns from our investment in recycling facilities which creates a strong entry barrier to the competition.In partnership with Jardine Engineering Corporation Limited, the Pilot Biochar Production Plant at the EcoPark in Tuen Mun was commenced trial operation during the Period. By converting yard waste into high-quality biochar with pyrolysis technology for various applications, the production plant effectively “turns waste into useful resources”.Hong Kong has made concerted effort to keep pace with international trends in the field of green and sustainable finance, accelerating its progress towards becoming an international green finance hub. To meet the needs of sustainable development, the Group has incorporated sustainability insights into its core businesses and operations and is committed to providing customers with one-stop and diversified green environmental services and sustainable procurement solutions. In the future, Baguio will invest more resources in personnel training and green procurement. Meanwhile, through the provision of waste audit services, the Group provides waste constituent data to help corporate customers understand the amount of generated waste that can be recycled and achieve sustainable development goals.As for the landscaping business, the Group provided landscaping services for the Kai Tak Sports Park, the Central and Western District Promenade and the Inclusive Park for Pets at Tsun Wen Road in Tuen Mun. In addition, the Group provides landscaping services for a wide range of clients, including large private residences, Government premises, schools, shopping malls, hotels, airports, Hong Kong Science Park, Hong Kong University of Science and Technology and Lingnan University, etc.For pest management business, the Group continued to provide pest management services in Wong Tai Sin and Tai Po districts during the Period. In addition, the Group provided termite control and monitoring services to 29 monuments under the Antiquities and Monuments Office and 24 temples under the Chinese Temples Committee respectively.The Government is developing the Northern Metropolis at full speed and a number of public housing estates are scheduled for completion in phases. In particular, intake of tenants at the public housing estates in northern Kwu Tung North and Fanling North New Development Area will commence progressively from 2026. The Northern Metropolis will provide about 500,000 new housing units after fully developed, which is believed to bring opportunities to the Group’s core businesses.Mr. Ng Wing Hong, Chairman of Baguio, commented, “The Government demonstrates a strong commitment to environmental agenda. Baguio’s core businesses are closely related to the livelihood of the general public and are not affected by the economic environment. Despite the presence of economic headwinds, the Group’s core business continues to demonstrate a growth trajectory.While the implementation of the Waste Charging was postponed during the Period, the Government has significantly increased its efforts to increase various types of recycling spots through recyclers. For example, the addition of night mobile food waste recycling spots to facilitate citizens’ recycling, with improvement in terms of quality and quantity, which directly brings growth impetus to the Group’s recycling business. Therefore, the postponement of Waste Charging has no adverse impact on the Group’s recycling business, and on the contrary, results in an increase in business. In the long run, waste reduction and recycling will help achieve the Government’s goal of “Zero Landfill”, and benefit the development of the Group’s recycling and green technology businesses.”Looking forward, the Group will continue to increase the market share of its core businesses and proactively engage in expansion in Hong Kong and beyond. Meanwhile, in line with the development of the Group, it will actively explore potential mergers and acquisitions, joint ventures or new business projects to accelerate future business growth and deliver substantial and long-term returns to shareholders.For details of the Group's 2024 interim results announcement, please visit the following website:http://www.baguio.com.hk/en-US/Investor%20Relations/Announcements%20and%20Notices- End -About Baguio Green GroupEstablished in 1980, Baguio Green Group (Stock code: 01397.HK) is one of Hong Kong’s largest integrated environmental services groups. It provides a full spectrum of professional services including professional cleaning, waste collection & recycling, waste management, green technology, organic fertilizer and animal feed production, horticulture & landscaping, and pest control. It serves a wide range of customers in various sectors including Government departments, statutory organizations and multinational corporations. Fully committed to ESG, the Group works relentlessly to advance sustainable development and create a cleaner, greener, healthier city. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - CanSino Biologics Inc. (CanSinoBIO) today disclosed its performance report for the first half of 2024, with revenue reaching 303 million yuan, while losses were substantially reduced. The meningococcal conjugate vaccines demonstrated robust growth, particularly the Group ACYW135 Meningococcal Conjugate Vaccine (CRM197), known as MCV4 or Menhycia®. As the first quadrivalent meningococcal conjugate vaccine product in Asia, it not only fills the market gap, but also provides a better choice for the prevention of meningococcal disease in Chinese infants and young children. In the first half of 2024, CanSinoBIO's two meningococcal vaccines generated approximately 263 million yuan in revenue, marking a significant increase of around 18% compared to last year.In addition, CanSinoBIO is making strides in clinical trials for expanding the age group of MCV4, aiming to cover children aged four and above, as well as adults. This initiative seeks to broaden vaccination coverage to meet the needs of a wider population. Concurrently, the company is advancing the international market expansion of the MCV4, leveraging its successful overseas commercialization experience with its COVID-19 vaccine. CanSinoBIO is deepening collaborations with leading international research institutions, focusing on registration and commercialization in Southeast Asia, the Middle East, North Africa, and South America. It indicates that the company is accelerating the commercial layout in the global market.Moreover, the market expansion experiences and strategic partnerships will support to expand the reach of its PCV13i [13-valent pneumococcal conjugate vaccine (CRM197, TT Vector)] and DTcP (diphtheria, tetanus and acellular pertussis) components vaccine franchise in global markets. The company is also planning and preparing for WHO PQ certification, exploring the feasibility of international organizations. For global innovative products, CanSinoBIO will actively explore the possibility of accessing developed countries.In terms of commercialization strategy, CanSinoBIO has adopted an efficient and precise model, relying on its direct sales team and leveraging professional promoters to rapidly extend its marketing network to the county-level areas. The company adheres to a professional academic and customer-oriented approach, ensuring that products reach target groups through in-depth research and terminal services. This approach helps control sales expenses and achieves intensive operations. To date, CanSinoBIO has established a well-structured commercial operation center for both domestic and international markets. The MCV4 has been approved in 30 provinces in China, comprehensively opening up the domestic market. The successful commercialization of MCV4 has laid a solid foundation for the upcoming PCV13i, which is currently undergoing clinical and manufacturing site inspections as planned.CanSinoBIO has also made significant progress in cost reduction and efficiency improvement, with sales and administrative expenses decreasing by approximately 13% and 39% compared to the same period last year, respectively, reflecting ongoing improvements in operational efficiency.Overall, CanSinoBIO has integrated R&D, production, and commercialization, gradually transforming into a biopharmaceutical company. With the successful commercialization of MCV4 and the upcoming approval and launch of new products like PCV13i, CanSinoBIO's performance is expected to continue growing. The company’s management team is confident on the company's prospects and has demonstrated strong support through increasing shareholdings. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors, today announced its unaudited financial results for the second quarter of 2024.Noah recorded total net revenue of RMB 616 million in the second quarter of 2024. The wealth management business generated net revenues of RMB 416 million, while the asset management business reported net revenues of RMB 192 million.Strategically Overseas Expansion and Comprehensive investment SolutionsNoah’s overseas expansion is gaining momentum as client demand for global asset allocation strengthens, with overseas net revenue contribution increasing to 46.3% in the first half of 2024 and asset under management increasing 14.1% year-over-year during the quarter. Noah also raised US$ 338 million for overseas private equity, private credit, and other primary market funds year-to-date, a significant 40.2% year-over-year increase.Income from operations was RMB 134 million, an increase of 10.3% sequentially, with an operating margin of 21.8%, an increase from 18.7% in the first quarter of 2024. These results directly reflect the early success of Noah’s strategic transformation as it implements effective cost control measures, restructures its domestic business, and accelerates its expansion overseas."The pace of our overseas expansion is gaining momentum," said Zhe Yin, the Chief Executive Officer of Noah Holdings. "Our team of overseas relationship managers directly supporting this expansion grew 101.8% year-over-year and 24.2% sequentially during the quarter. While we are still in the relatively early stages of our overseas expansion, these results reflect the direction we are headed in going forward.”“Domestically, we are focused on stabilizing operations by streamlining our branch network to reduce overhead costs and adjusting our client service model to comply with evolving regulatory requirements by separating relationship and business development managers into different independent business units. While these initiatives may temporarily impact business activity over the next few quarters, they will ensure our ability to effectively and compliantly serve clients with a comprehensive portfolio of products in the long term. I am pleased with the progress we have made this quarter in expanding overseas, and confident in both our long-term growth potential and ability to consistently generate returns for shareholders."As of June 30, 2024, the number of overseas registered clients increased by 6.7% sequentially 23.0% year-over-year to 16,786, further reflecting the growing demand for overseas asset allocation. Notably, the number of overseas diamond and black card clients saw an even more substantial year-on-year increase of 14.2%.The Company also observed a shift in product preferences, a trend that aligns with the forward-looking strategies outlined in Noah's Chief Investment Office’s (CIO) house view. Interest in investment products increased substantially as a result of expectations for a potential Federal Reserve rate cut during the second half of the year. Known for its expertise and ability to offer clients alternative investments on a global basis, Noah is uniquely positioned to capitalize on this opportunity to grow its USD AUA.As of June 30, 2024, Noah’s overseas relationship manager team grew to 113, a 24.2% increase sequentially. This expansion reflects Noah’s commitment to building a robust presence in key international financial hubs, and enhances its ability to serve high-net-worth clients with comprehensive global investment solutions.Prioritizing Shareholder Interests and Delivering Sustained ReturnsAs part of its commitment to enhancing shareholder returns, the board of directors of the company authorized a share repurchase program under which the Company may repurchase up to US$50 million of its American depositary shares or ordinary shares, effective immediately. The authorized term for carrying out this share repurchase program is two years.Noah announced in November 2023 that a new capital management and shareholder return policy (the “Policy”) had been adopted, pursuant to which up to 50% the Company's non-GAAP net income attributable to shareholders of the preceding financial year will be allocated to a Corporate Actions Budget which will serve various purposes, including dividend distribution and share repurchases. The share repurchase program announced on August 29 2024 does not form a part of the Corporate Actions Budget under the Policy. The Corporate Actions Budget based on Noah’s financial performance in 2024 is expected to be determined and announced alongside the Company’s earnings results for the fourth quarter and full year ending on December 31, 2024.Ms. Jingbo Wang, co-founder and chairwoman of Noah, commented, “This share repurchase program, along with the dividend payout we just completed, reflects our unwavering commitment to prioritizing shareholder interests and delivering sustained returns. While China’s wealth management industry is navigating a challenging period and undergoing a transition, we remain confident in Noah’s unique advantages stemming from our deep understanding of Mandarin-speaking high-net-worth individuals’ (HNWI) needs and our ability to deliver products and services to this still-growing client base. We are one of a few independent firms that maintains access, through years of investor education, to a large group of qualified individual investors who continue to seek professional services.”“As such, we believe that our stock is deeply undervalued and does not reflect our growth prospects, robust balance sheet and cash reserves, or the special bond we have formed with the Mandarin-speaking HNWIs globally. We value both our long-term and new shareholders and are committed to sharing our success with them through more proactive capital allocation policies moving forward.”Strengthening Commitment to ESG PrinciplesIn the first half of 2024, Noah published its 10th Annual environmental, social, and governance (ESG) report, highlighting its decade-long commitment to corporate responsibility and sustainable practices. Additionally, Gopher Asset Management, Noah's asset management arm, also joined the latest Nature Responsible Management initiative, Spring, announced by Principles for Responsible Investment (PRI) in 2024, reinforcing its role in driving responsible investment practices in order to halt and reverse biodiversity loss by 2030.By aligning with the PRI, Noah reaffirms its commitment to integrating ESG factors into its investment processes, fostering sustainable and responsible investment practices that benefit all stakeholders.Noah continues to adapt and evolve amidst a challenging market environment. The Company’s strategic initiatives, focused on global expansion, technological innovation, and sustainable practices, are beginning to yield tangible results, laying a strong foundation for continued success in the years to come. Copyright 2024 ACN Newswire via SeaPRwire.com.

Results Highlights for the Six Months Ended June 30, 2024:- Revenue reached to approximately US$475.4 million, grew by 11.6% YoY- Gross Profit amounted to approximately US$163 million and gross profit margin was 34.4%- Profit grew significantly by 23.6% to approximately US$35.6 million- In the first half of 2024, the Company brought to market the 7th generation (G7) of the SR2X Series, which has been the best-selling single-engine piston model aircraft in the world for the last 22 consecutive years.- Net orders increased for both the SR2X and Vision Jet combined for the six months ended June 30, 2024 by a total of 107 units from 255 for the six months ending June 30, 2023 to 362 for the six months ending June 30, 2024.HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Cirrus Aircraft Limited (“Cirrus Aircraft” or “Company”) and its subsidiaries (together, the “Group”)( 2507.HK) announces the unaudited consolidated results for the six months ended June 30 2024 (the “Reporting Period”).During the Reporting Period, revenue of the Group grew by 11.6% to US$475.4 million, as compared with US$426.0 million for the same prior year period. Gross profit increased by 10.0% to US$163.4 million as compared with US$14.8 million for the same prior year period. Profit for the Reporting Period significantly increased by 23.6% from US$28.8 million for the same prior year period to US$35.6 million. It is primarily due to increased aircraft deliveries, increased pricing on the aircraft, and better mix of revenue generated from Cirrus Services and Other towards its services with higher margin.The leading aircraft manufacturer in the global personal aviation marketSince the inception in 1984 in Wisconsin, United States, Cirrus Aircraft is committed to design, develop, manufacture, and sell premium aircraft recognized across the personal aviation industry, which incorporate innovations in safety, technology, connectivity, performance, and comfort. The Company’s two aircraft product lines, the SR2X Series and the Vision Jet, have successfully set the industry standard for owner-piloted aircraft and are currently certified and validated in more than 60 countries with cumulative deliveries of over 9,700 SR2X Series aircraft and over 500 Vision Jet aircraft worldwide as of the June 30, 2024.As part of its wide-ranging product offering strategy, the Company’s SR2X Series consists of an entry level aircraft, the SR20, as well as the SR22 and SR22T, both of which offer increasing levels of performance and capabilities addressing different customer needs and preferences for a single-engine piston aircraft. SR2X Series aircraft can typically carry up to four adults and one child. The Vision Jet targets a different and more premium segment of the personal aviation market and offers significantly enhanced performance, capabilities and specifications at a higher price point. The Vision Jet is also designed for owners to fly at jet speed without requiring support from a full-time pilot or flight department. The Vision Jet can typically carry up to five adults and two children. With the launch of the G7 line and continuous upgrade of product portfolio, it will sustain the growth of the business and continue to provide a premium experience for the customers.In the first half of 2024, Cirrus Aircraft delivered 20 more aircraft and the average sales prices (“ASP”) of all deliveries steady increased as compared to the same period in 2023. The average sales price of the SR2X aircraft deliveries was approximately US$1.04 million compared to US$0.99 million in the same period in 2023. The average sales price of the Vision Jet aircraft deliveries was US$3.33 million compared to US$3.08 million in the same period in 2023. At the same time, net orders increased for both the SR2X and Vision Jet combined for the six months ended June 30, 2024 by a total of 107 units from 255 for the six months ending June 30, 2023 to 362 for the six months ending June 30, 2024. This increase is partly attributable to the launch of the G7 line as well as the continuation of the product ladder between the two product lines and the growing ecosystem around the ownership experience. The significantly increased net orders recorded during the Reporting Period will bring a great momentum for the steady growth of the Company.Outlook and Future PlanIn the future, Cirrus Aircraft will continue to focus on product improvement, model upgrades and ongoing generational changes to equip its aircraft with new technologies and designs to consolidate the leading position of the industry. Meanwhile, the Company intend to adopt a series of measures, including monetize installed base through establishing, among many things but not limited to, new maintenance programs, and expanding aircraft management solutions and an array of useful customer services, enhance flight training solutions, advance and expand its aircraft and services portfolio, advance production capabilities, expand its markets globally and establish on-demand personal aviation solutions, to support the future business development and the long-term steady growth of the Company.In recent, as part of the ongoing efforts to increase the capacity and efficiency of the manufacturing facilities, the Company has also completed significant improvements in its manufacturing facility in Grand Forks, including expanded autoclave and mold capacity. In addition, the Company continues to increase the areas of the production facilities in which the Company has implemented its Cirrus Operating System (COS) which continues to increase the operating efficiency. Cirrus Aircraft anticipates these continued improvements will help increase and support future production.In regards to the marketing strategy, the Company adjusted its sales structure in the United Kingdom and France from CSAs to direct sales, which the Company anticipates will drive growth in these markets by developing direct relationships with the customers earlier in the sales cycle, maintaining closer relationships throughout the customers’ ownership experience and allowing the Company to strategically and directly drive sales and marketing initiatives. Moreover, the Company continues to expand the investment within its product portfolio. In April 2024, the Company received the production certificate from Federal Aviation Administration of the U.S. Department of Transportation for its SR10 aircraft, which is the first of its kind clean sheet design exclusive to training the next generation of pilots.                                        - End -About Cirrus Aircraft LimitedCirrus Aircraft Limited is a pioneer and an established global market leader in the personal aviation industry, according to Frost & Sullivan. The Company designs, develops, manufactures, and sells premium aircraft recognized across the personal aviation industry, which incorporate innovations in safety, technology, connectivity, performance, and comfort. The market share of Cirrus Aircraft in the global personal aviation market was 32.0% in 2023 based on the number of units delivered, according to Frost & Sullivan. The Company’s two aircraft product lines, namely SR2X Series and Vision Jet, have successfully set the industry standard for owner-piloted aircraft and are currently certified and validated in more than 60 countries. According to GAMA, SR2X Series has been the best-selling single-engine piston aircraft for 22 consecutive years, while according to GAMA and Frost & Sullivan, Vision Jet has been the best-selling business jet for the last six consecutive years since it first delivered in 2016.This press release is issued by Porda Havas International Finance Communications Group for and on behalf of Cirrus Aircraft Limited. For further information, please contact:Porda Havas International Finance Communications GroupTelephone: 852 3150 6788Email: cirrusaircraft.hk@h-advisors.global Copyright 2024 ACN Newswire via SeaPRwire.com.