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acnnews · 1 year

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EC Healthcare Expects Third Quarter FY23 Sales Volume to Increase

Medical Services Sales Volume to Increase no less than 39% YoY Business Momentum Building Up Amid Initial Phase of Border Re-opening

HONG KONG, Jan 20, 2023 - (ACN Newswire) - EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong*, is pleased to announce that the Group expects sales volume for the period of October to December 2022 (the "Quarter") to increase by no less than 8% as compared with the same period last year.

The demand on medical services provided by the Group remains strong and the Group's increasingly diversified business demonstrated resilience and good momentum. The Board expects to record overall sales volume of no less than HK$1,000 million for the Quarter, representing a no less than 8% YoY increase. The Group expects to achieve a no less than 39% YoY increase for medical services sales volume. Sales volume of aesthetic medical and beauty and wellness services in Hong Kong and Macau declined by no more than 17% YoY, while sales volume of aesthetic medical and beauty and wellness services in Mainland China declined by no more than 50% YoY during the Quarter. The decrease in aesthetic medical and beauty and wellness services was mainly due to (i) weaker local consumer spending due to increase in outbound traveling amid the lifting of inbound quarantine restrictions; (ii) the pessimistic economic outlook and weak local consumer sentiment caused by high inflation and rising interest rate; and (iii) the omicron outbreak in Mainland China. In addition, the sales volume of other services declined by no less than 8% YoY.

Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of EC Healthcare said, "The Group is pleased to see the initial phase of border re-opening between Hong Kong and Mainland implemented earlier this year and the Mainland visitors started to return on a gradual basis. With the leading brand and one-stop diversified services, the Group has always been the top choice for medical tourists. The Group has maintained its leading position in the aesthetic medical industry while significantly strengthening its medical services capabilities. In addition, the Group's continuous investment in IT systems and industry value chain integration has enabled the Group to seize the growth opportunity and capture demand from medical tourists. The Group will provide quality, affordable, accessible and sustainable healthcare services to a wider range of customers and continue to expand its businesses through organic growth as well as mergers and acquisitions to enrich the Group's enclosed diversified ecosystem. The Group will also further enhance the resilience and ability to resist cyclical economic changes and further consolidate the healthcare market."

About EC Healthcare EC Healthcare is Hong Kong's largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group's high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism. The Group is a constituent stock of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index.

The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for years, a professional hair care center HAIR FOREST, primary care clinics jointly established with health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, General outpatient clinic Tencent Doctorwork, the largest one-stop pain management centre in Hong Kong New York Medical Group, the comprehensive dental centres Bayley & Jackson Dental Surgeons, EC DENTAL CARE and Health and Care Dental Clinic, an advanced diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic PREMIER MEDICAL CENTRE, SPECIALISTS CENTRAL and NEW MEDICAL CENTER, a paediatric centre PRIME CARE, a gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, PathLab Medical Laboratories, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.

*According to independent research conducted by Frost and Sullivan in terms of revenue in 2020 and 2021

For further information, please contact: iPR Ogilvy Limited Callis Lau / Lorraine Luk / Tim Tin Tel: (852) 2136 6952 / 2169 0467 / 3920 7654 Fax: (852) 3170 6606 Email: [email protected]

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acnnews · 1 year

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SinoHytec Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange

Offer Price Between HK$60 and HK$76 per H Share, Raise up to HK$1,540.7 million

Leading Provider of Fuel Cell Systems

Ranked First in the PRC Fuel Cell System Market

The leading provider of fuel cell systems in China – Beijing SinoHytec Co., Ltd. (SinoHytec or the Company, HKG: 2402), today announced the proposed listing of its shares on the Main Board of the Stock Exchange of Hong Kong Limited ( the Hong Kong Stock Exchange).

SinoHytec plans to offer an aggregate of 17,628,000 H shares under the Global Offering (subject to the Over-allotment Option), comprising an International Offering of 15,865,200 H shares (subject to Reallocation and the Over-allotment Option), representing 90% of the initial offer shares; and Hong Kong Public Offering of 1,762,800 H shares (subject to Reallocation), representing 10% of the initial offer shares), at a price range between HK$60 and HK$76 per Offer Share. The Hong Kong Public Offering will commence at 9 a.m., December 29, 2022 (Thursday), and close at 12:00 noon on January 5, 2023 (Thursday). Dealings in the shares of SinoHytec on the Main Board of the Hong Kong Stock Exchange is expected to commence on January 12, 2023 (Thursday), with the stock code 2402 and in board lots of 50 Offer Shares each.

Guotai Junan Capital Limited and Giraffe Capital Limited are the Joint Sponsors.

SinoHytec is a leading provider of fuel cell systems in China, focusing on the design, development and manufacture of fuel cell systems and stacks (a key component of the system) mainly for commercial vehicles, such as buses and trucks. According to the China Insights Industry Consultancy Limited Report (“CIC Report”), the company ranked first in the PRC fuel cell system market in terms of the total power output of fuel cell systems sold* in 2021, with a market share of 27.8%; and in 2021, fuel cell systems accounted for approximately 0.8% of the total sales volume of new energy systems for commercial vehicles, while lithium battery systems accounted for the rest of the total sales volume. As of June 30, 2022, the company’s fuel cell systems were installed on 80 models of fuel cell vehicles that are featured in the MIIT New Energy Vehicle Catalogs, ranking us first in the industry.

Leader in China’s fast growing fuel cell system market

Established in 2012, the company is a pioneer in the R&D and commercialization of fuel cell systems in China and started batch production in 2016. The company also participated in the fuel cell vehicle development and commercialization scheme of the United Nations Development Programme in China and witnessed the progress of the PRC fuel cell industry from the R&D phase to pilot testing and to commercialization. The company’s fuel cell systems are installed on commercial vehicles operating across various PRC cities, including Beijing, Zhangjiakou, Shanghai, Chengdu, Zhengzhou and Zibo.

As of December 20, 2022, the company’s fuel cell systems have powered over 2,800 fuel cell vehicles on the road in China. These vehicles had an average mileage of around 40,000 kilometers per vehicle, accumulating over 108.6 million kilometers and 2.3 million hours of operations, which built an industry leading record.

Strong research and development capabilities

The Company adheres to a R&D principle of “Advance Research”, “Continuous Development” and “In-depth Promotion”. The key objectives of the Company R&D and product testing activities are to optimize and upgrade the company products’ adverse weather capabilities, durability, reliability, efficiency, safety and economy. As of June 30, 2022, the Company has establised an outstanding R&D team of 270 members. The Company also cooperated with leading research universities in China, such as Tsinghua University, to facilitate the development and commercialization of innovative fuel cell technologies so that the Company can respond to the fast-changing market demands.

The Company’s R&D team has progressively developed the 30kW, 40kW, 50kW, 60kW, 80kW, 100kW, 120kW and 150kW models of fuel cell systems over the years. In particular, the Company launched the 240kW high power output model in December 2021, which is the first automotive fuel cell system in China that can reach a rated power of 240kW.

In addition, the Company participated in and achieved significant results in various R&D projects sponsored by the PRC government. As of June 30, 2022, the Company had over 590 patents, including over 210 invention patents, over 360 utility model patents, and 20 design patents. In addition, the Company has more than 590 patent applications that have been accepted by the State Intellectual Property Office of China.

* Sales volume of fuel cell systems comprises only direct sales to fuel cell vehicle manufacturers.

Solid partnerships with major PRC commercial vehicle manufacturers

The Company has built solid long-term partnerships with major commercial vehicle manufacturers in China, such as Beiqi Foton, Yutong Bus and Geely Commercial Buses, through jointly undertaking national-level R&D projects and codeveloping, demonstrating and testing fuel cell vehicles. In particular, Beiqi Foton and Yutong Bus purchased the Company’s fuel cell systems on order basis since 2016 and 2018, respectively, for the production of their fuel cell vehicles. The Company codeveloped with Toyota and Beiqi Foton transit buses using the Company’s fuel cell systems which are designated as the official transport vehicles at the Beijing 2022 Olympic Winter Games. As of June 30, 2022, the Company has sold fuel cell systems to over 20 commercial vehicle manufacturers whose total fuel cell vehicles sold in 2021 represented nearly 60% of the market share in China. In addition, Beiqi Group and Yutong Bus have become the company Shareholders and strategic partners, representing the recognition of us by the downstream players of the fuel cell vehicle industry.

Integrated components supply system and close cooperation with suppliers

After years of dedication, the Company built a comprehensive procurement system with local suppliers. During the Track Record Period, the Company has established a relatively stable long-term relationship with over 300 suppliers in China, providing parts such as MEA and air compressors. During the Track Record Period, the company had localized the supply of MEA and procured more raw materials from local suppliers each year.

Mr. Zhang Guoqiang, Chairman, Executive Director and General Manager of SinoHytec said, “Our mission is to leverage advanced hydrogen fuel cell technologies to contribute to China’s carbon emission peak and carbon neutralitygoal and empower global energy transition. We are committed to becoming a global leader in hydrogen fuel cell technologies for promoting a sustainable and low-carbon future. New energy vehicle development is strategically significant to China’s energy security and environmental protections. We intend to achieve this goal by implementing the following strategies: further advance the R&D of fuel cell systems and core components; expand the production capacity of fuel cell stacks to meet the growing market demand and achieve economies of scale; strategically expand our customer base and geographical coverage; expand and strengthen our supply chains; and improve our brand awareness and promote the application of fuel cell systems. We will grasp the opportunities arising in future trend and development of the industry, leverage on our competitive advantages to further consolidate SinoHytec’s market position, and create the greatest value for shareholders and investors.”

Beijing SinoHytec Co., Ltd. Fact Sheet

Information on the Global Offering: Number of Offer Shares under the Global Offering: 17,628,000 H Shares (subject to the Over-allotment Option) Number of Hong Kong Offer Shares: 1,762,800 H Shares (subject to reallocation) Number of International Offer Shares: 15,865,200 H Shares (subject to reallocation and the Over-allotment Option) Maximum Offer Price: HK$76.00 per H Share, plus brokerage fee of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565% (payable in full on application in Hong Kong dollars and to refund) Board Lot: 50 H Shares Start of the Hong Kong Public Offering: 9:00 a.m., December 29, 2022 (Thursday) End of the Hong Kong Public Offering: 12:00 noon, January 5, 2023 (Thursday) Announcement of Allotment Results: January 11, 2023 (Wedsnesday) Expected Listing Date: January 12, 2023 (Thursday) Stock Code: 2402

Use of Proceeds: The Company estimates that it will receive net proceeds of approximately HK$1121.8 million from the Global Offering, after deducting the underwriting commissions, fees and estimated expenses payable by the Company in connection with the Global Offering, assuming that the Over-allotment Option is not exercised and assuming an Offer Price of HK$68 per Share (being the mid-point of the indicative Offer Price range). The Company intends to use the net proceeds for the following purposes:

1) Approximately 75.0% (approximately HK$841.2 million) will be used to fund the research and development in the next three years; 2) Approximately 15.0% (approximately HK$168.4 million) will be used for improving the brand recognition through product promotion and multi-channel marketing in the next three years; 3) Approximately 10.0% (approximately HK$112.2 million) will be used for working capital and other general corporate purposes.

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acnnews · 2 years

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2nd Annual Clean Power & New Energy 2022

Clean Power & New Energy is the most efficient and targeted event for utility scale renewable companies. Bringing these technologies together will create more value for participants by enhancing opportunities to network, broadening the scope of education and providing access to an exclusive audience.

Incorporating all renewable technologies will be more convenient and cost-effective for multi-tech businesses as well as companies specializing in wind or utility solar who will benefit from an efficient business development forum that attracts decision makers from large-scale developers, corporate buyers and utilities.

-Date: 20TH-21ST JULY 2022 -Time: 8.30 AM - 6.00PM -Venue: Mandarin Oriental, Kuala Lumpur, Malaysia -Event’s Website Link: http://www.mcpnewenergy.com/

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#events #malaysia #renewable #energy

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acnnews · 2 years

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Start-up Express Pitching Final takes place on 15 June

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acnnews · 2 years

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The Summit at Lan Space Concludes Successfully

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acnnews · 2 years

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Financial services veteran Dato' Seri Dr Mohamed Azahari joins auction technology firm Bidnow as new Corporate Advisor

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acnnews · 2 years

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Corinium Presents: CDAO Singapore

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acnnews · 2 years

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Connected Transactions Involving Subscription by Vivo Suzhou Fund and Centerlab for TOT BIOPHARM Shares

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acnnews · 2 years

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Pacific Green Appoints the Principal Contractor and Operations & Maintenance Provider for its Richborough Energy Park Battery Storage System in the UK