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China Lesso Announces 2023 Annual Results

Stable Plastic Piping System BusinessInsists its Prudent Business Strategy Keep Refining its Mainstay Products Proactively Develops Overseas Market Hong Kong, China, 26th Apr 2024 – China Lesso Group Holdings Limited (“China Lesso” or the “Group”, SEHK stock code: 2128), a leading large-scale industrial group that manufactures piping and building materials in China, announced its annual results for the year ended 31 December 2023 (the “Year”). In 2023, the economy and investment in China still faced myriad challenges. Particularly, the property sector remained in a trough while the capital market became volatile and complicated. Nevertheless, China Lesso forged ahead with its development and adhered to the principle of prudent business operation by further developing its mainstay business, fortifying its market position and maintaining the quality standards. It demonstrated resilience by maintaining steady business development. Its revenue remained flat at RMB30,868 million for the Year. Gross profit was RMB8,121 million and gross profit margin remained flat at 26.3%. These changes were resulted from (i) an increase in total sales volume of plastic piping systems business which benefited from the timely adjustments to its average selling prices arising from a decline in the cost of raw materials during the Year; and (ii) an increase in revenue contribution from other businesses with less gross profit margin.Profit attributable to owners of the Group was RMB2,368 million. Basic earnings per share were RMB0.77. The Board recommended the payment of a final dividend of 20 HK cents per share for the year ended 31 December 2023.  Plastic piping systems business has always been the main business of the Group. In 2023, China Lesso capitalised on the ongoing demand for infrastructure construction on the back of the state policy and economic recovery by proactively developing and expanding its piping business. It not only kept refining its mainstay products but also innovated both its products and technology, thus enhancing its core competency and expanding its market share. Meanwhile, the Group continued to strengthen its strategic partnerships with government departments and leading central government-owned and state-owned infrastructure construction enterprises by proactively participating in projects of national development plan and urban redevelopment projects. The Group thus achieved synergies with its strategic business partners and consolidated its leading position in the piping system market. The plastic piping systems business demonstrated stable performance, recording revenue of RMB24,585 million, accounting for 79.6% of the total revenue of the Group. During the Year, the Group adjused its sales strategy according to the market conditions and further diversified its product portfolio, boosting the sales of its plastic pipes and pipe fittings, with a 10.6% increase year on year to 2.647 million tonnes in sales volume. During the Year, the Group was able to maintain its gross profit margin at a reasonable and healthy level of 28.5% due to a gradual decline in raw material prices, its adoption of effective procurement strategies and timely adjustments to the selling prices as well as its economies of scale.  As a leading enterprise in the piping industry, the Group aims to develop its intelligent manufacturing capability by the establishment of smart factories through adopting such technologies as the Internet of Things, intelligent manufacturing and automated production in order to enhance its production capability. During the Year, the Group’s annual designed capacity for plastic piping systems was 3.21 million tonnes, and the capacity utilisation rate was approximately 79.4%. Intelligent manufacturing not only improves efficiency but also effectively reduces carbon emissions and pollution, thus blazing a trail for the piping industry’s green and low-carbon practices, bringing advantage to production and sales, creating a win-win situation for both the economy and environment, and adding new impetus and new advantages to high-quality development. While focusing on the development of its piping business, the Group extended the scope of the applications of its piping systems and provided products, facilities and solutions of high standards for large-scale planting by leveraging its business advantages and research and development capabilities. The Group proactively contributed to agricultural modernisation during the Year by stepping up its research and development of agricultural facilities. It further developed modern technologies and applied its products and technologies into agriculture, animal husbandry, marine aquaculture, thus facilitating the modernisation and upgrading of traditional agriculture and accelerating China’s rural revitalisation while enriching its revenue source and expanding its market share. In 2023, new business opportunities were expected to arise as international commerce gradually returned to normal. The Group proactively developed overseas markets, tapping into the huge domestic demand and grasping the opportunities for infrastructure construction there on the one hand, and increasing the influence and penetration of its brand there on the other hand. During the Year, the Group accelerated the localisation of its brand in overseas markets and further developed the Southeast Asian market. Currently, the Group’s production bases in Indonesia, Cambodia, Thailand and Malaysia have already been put into operation while those in the Philippines, Bangladesh and Vietnam are under preparation for construction, providing more room for the Group’s development. In the future, the Group will continue to strengthen its strategic partnerships with government departments as well as leading central government-owned and state-owned infrastructure construction enterprises by proactively participating in projects of national development plan and urban redevelopment projects, with the aim of achieving synergies with its strategic business partners and consolidating its leading position in the piping market. Furthermore, the Group will continue to make innovation the core driving force behind its development, and keep innovating its products, services and business model. It will also further develop its intelligent manufacturing capability, enhance its sustainable development capability and facilitate the high-quality development of its business.  In view of the building materials and home improvement business, in 2023, China’s property sector was undergoing adjustment at a trough and the sector still laboured ahead under downward pressure. Furthermore, home buyers’ confidence remained weak, leading to consistently sluggish sales and impeding a recovery in the market. As a result, the building materials and home improvement industry was also affected to a certain extent. During the Year, revenue from building materials and home improvement business was RMB2,839 million, accounting for 9.2% of the Group’s total revenue. As the central government-owned and state-owned enterprises had an advantage of ample capital and were more resilient, making them key players in the property sector. To mitigate business risk, the Group proactively diversified its client base by pursuing more projects led by the government and state-owned enterprises and by decreasing the proportion of civilian-owned property companies in its client base. In 2024, as the policies on the supply and demand sides are implemented in synergy and the policy on facilitating property firms’ ability to raise funds is likely to be fine-tuned and implemented, as such, the number of factors favourable to the property market’s development is increasing. Such policies are expected to yield results so the property market is likely to bottom out gradually. The Group will continue to focus on product quality and enhancing its one-stop total solution and services. It will help promote healthy, green construction with its diverse, high-quality building materials and home improvement products and services. Meanwhile, the Group will grasp opportunities in property construction projects and optimise its client mix by proactively engaging new clients with strong financial position so as to boost sales. The Group operates in several sectors, including environmental protection, supply chain services, and new energy. Despite a slower-than-expected economic recovery in China affecting project numbers and industrial output, the environmental protection business saw steady progress, achieving a revenue of RMB387 million.  Mr. Wong Luen Hei, China Lesso Chairman and Executive Director said, ‘‘China’s economy will continue to face myriad challenges in 2024, but it is likely to stay on track for improvement as the macroeconomic policies gradually yield results and the industries undergo steady transformation and upgrading. China Lesso will adhere to its original aspiration and the principles of the prudent operation and development of business. It will seek to innovate with prudence and drive development with innovation. The Group will further develop its capabilities for intelligent manufacturing and green production, continue to explore opportunities in its mainstay business and enhance synergy across its diverse businesses. Meanwhile, it will pursue the upgrading and innovation to keep up with the market trends, enhance its brand strength, and add impetus into its high-quality development. The Group will also grasp opportunities in overseas markets and embrace globalisation by increasing its brand’s influence and penetration there with its core capability for intelligent manufacturing. The Group will raise the standards of its management in order to reduce costs, raise efficiency, make steady progress and generate shareholder return for the long term.’’ About China Lesso Group Holdings Limited China Lesso Group Holdings Limited is a leading large-scale industrial group that manufactures piping and building materials in China. After 37 years of rapid development, the Group has evolved into a leader in the industry of building materials and home improvement. It provides high-quality products and services such as plastic piping, building materials and home improvement, new energy, environmental protection, and operates a supply chain service platform.  Currently, the Group has established over 30 advanced production bases in 19 provinces of China and in foreign countries. The Group has established a nationwide sales network and has also developed long-term strategic partnerships with 2,853 independent and exclusive first-tier distributors that enable timely and efficient supply of comprehensive, quality products and professional services to customers. As an integrated manufacturer of a comprehensive range of piping and building materials, China Lesso provides over 10,000 types of quality products, which are widely applied to such fields as home improvement, civil architecture, municipal water supply, drainage, energy management, electric power transmission, telecommunication, gas supply, fire services, environmental protection, agriculture and marine aquaculture. Media Contact Organization: LESSO Contact Person: Benjamin Xian Website: https://en.lesso.com/ Email: Send Email Country: China Release Id: 26042411440 The post China Lesso Announces 2023 Annual Results appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

Favourite Sunshine Coast caterer Journey Street Food gets a facelift and rebrands as Journey Food Co.

Journey Food Co Unveils New Website and Rebrand from Journey Street Food Coolum Beach, Qld, Australia, 26th Apr 2024 – Journey Food Co is thrilled to announce the launch of its brand-new website, marking a significant milestone in the company’s growth and evolution. Formerly known as Journey Street Food, the rebranding to Journey Food Co reflects the company’s commitment to providing exceptional culinary experiences and a wider range of services to its valued customers. The new website, accessible at [https://www.journeyfoodco.com/], showcases Journey Food Co’s dedication to culinary excellence, creativity, and customer satisfaction. With a fresh design, user-friendly interface, and enhanced features, the website offers visitors an immersive experience into the world of gourmet cuisine and catering services. “We are excited to unveil our new website and rebranding as Journey Food Co,” said Ruby Senaratne, owner at Journey Food Co. “This rebrand represents our journey of growth, innovation, and passion for delivering unforgettable culinary experiences. Our new website reflects our commitment to excellence and our mission to exceed customer expectations.” Alongside the website launch, Journey Food Co also introduces its expanded catering services, now available throughout the Sunshine Coast region. From intimate gatherings to corporate events and weddings, Journey Food Co’s catering services cater to diverse needs with a focus on fresh, locally sourced ingredients and impeccable presentation. For more information about Journey Food Co and its catering services on the Sunshine Coast, please visit [https://www.journeyfoodco.com/]. About Journey Food Co: Journey Food Co is a leading provider of gourmet catering services, known for its innovative culinary creations, exceptional service, and commitment to customer satisfaction. With a focus on international cuisines, Journey Food Co caters to a wide range of events, from weddings and private parties to corporate functions and special occasions. Contact: Ruby Senaratne Owner Journey Food Co Ruby@Jouneyfoodco.com 0439782866 162 Centenary Heights Road Coolum Beach, Queensland, 4573 Media Contact Organization: Journey Food Co Contact Person: Ruby Senaratne Website: http://www.journeyfoodco.com Email: Send Email Contact Number: +61439782866 Address: 162 Centenary Heights Road City: Coolum Beach State: Qld Country: Australia Release Id: 26042411387 The post Favourite Sunshine Coast caterer Journey Street Food gets a facelift and rebrands as Journey Food Co. appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

Joe Mohan’s OTT Debut in ‘Specter: Blackout’ The World’s First Escape Room Thriller Series

Dubai, United Arab Emirates, 25th Apr 2024 – The much-anticipated series, ‘Specter: Blackout’, has finally premiered on ZEE5, introducing a unique escape room thriller that promises to keep audiences on the edge of their seats. This is the first-ever fictional escape room series to be produced globally. This marks a significant milestone in Joe Mohan’s career as he steps into the limelight of this unique psychological thriller. Joe Mohan, also known as VoiceGuyJoe, is an MC, Host, Anchor, TV Presenter, Voice Over Talent based in the Middle East with over a decade of experience in the events & media sector. He has voiced 100s of brands in radio, tv commercials, corporate films IVRs etc. for brands such as ADNOC, VOX Cinemas, RTA, Volkswagen, Big Ticket, Ekar and more. Joe has also acted in popular commercials for global brands like Downy, Mai Dubai, Abu Dhabi SeaWorld, Al Ansari Exchange, Nesto, Rainbow to name a few. Despite facing numerous obstacles, Joe never gave up on his dream. Inspired by his idol, Shahrukh Khan, and his famous dialogue from ‘Om Shanti Om’, Kehte hain agar kisi cheez ko dil se chaho … to puri kainaat usse tumse milane ki koshish mein lag jaati hay… which means if you manifest your dreams from the bottom of your heart, the whole world will make sure they become your reality! “Specter: Blackout introduces a diverse group of individuals, each grappling with their personal challenges,” Joe explained. “They find themselves unexpectedly thrust into an immersive escape room scenario, lured in by the promise of a $2 Million Dollars Prize Money. But they soon discover there’s a scary secret hidden within the escape room that could cost them their lives.”The series, directed by award-winning filmmaker Zenofar Fathima and co-director and written by Afraah Farhana, masterfully blends elements of mystery and horror, hooking audiences from the get-go. The production brought together a gifted ensemble of actors of different nationalities, including Priyaa Telavvane, Allinson Louis Aranha, Casey Shannon, Mohd Junaid and Yasir Akhlaq among others. Each actor delivered compelling performances, enhancing the series with meticulously crafted character backstories.  “Being a part of Specter: Blackout was an exhilarating experience for me,” Joe confessed. “Playing Asher’s character in such a gripping storyline was indeed a challenge, but also super rewarding. I found myself engrossed in the complex web of emotions, mystery and horror that defines Specter:  Blackout. It’s been a real honor to be a part of the series, and I am grateful to Zen Films Production for giving me this opportunity and bringing Asher’s character to life, on-screen.”Alongside the thrilling moments, the series also delves into deeper themes of mental well-being and social injustices, providing a thought provoking point of view on human nature. This adds another layer of depth to the series, making it not just a thrilling watch, but also a reflection of the disguised. The exclusive screening of Specter: Blackout took place in the Paramount Screening Room in Dubai, UAE. Dignitaries like Mr. Hans Fraikin – Ex Commissioner of Abu Dhabi Film and Television; Dr. Rashid Mohd Zubair Al Farooq – Speedy Comics; Manju Ramanan; a veteran author, editor, writer and a playwright along with various reputable cross-content specialists attended this screening. If you’re ready for a thrilling, chilling, and captivating experience, tune into ZEE5. Specter Blackout is sure to leave you spellbound!  About Joe MohanJoe Mohan, also known as VoiceGuyJoe, is an MC, Host, Anchor, TV Presenter, Voice Over Talent based in the Middle East with over a decade of experience in the events & media sector.  He has voiced 100s of brands in radio, tv commercials, corporate films IVRs etc. for brands such as ADNOC, VOX Cinemas, RTA, Volkswagen, Big Ticket, Ekar and more. Joe has also acted in popular commercials for global brands like Rainbow, Downy, Mai Dubai, Big Ticket, Abu Dhabi SeaWorld, Al Ansari Exchange, Nesto, to name a few. His OTT debut in the Specter: Blackout series marks a significant milestone in his career this year.  Media Contact Organization: MICE Experts Contact Person: Vaishali Website: https://miceexperts.me/ Email: Send Email City: Dubai Country: United Arab Emirates Release Id: 25042411399 The post Joe Mohan’s OTT Debut in ‘Specter: Blackout’ The World’s First Escape Room Thriller Series appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

ABC School Supplies Offers New Innovative Product Line in Brisbane

Australia, 25th Apr 2024 – ABC School Supplies, a leading provider of educational materials, is proud to announce the launch of its new product line, designed to support the diverse educational needs of children across Brisbane and beyond abcschoolsupplies.com.au/. This comprehensive range includes resources for literacy, mathematics, science, and more, catering to schools, childcare centres, and early learning services. The new offerings from ABC School Supplies are carefully curated to enhance the learning experience for children of all ages. From engaging outdoor play equipment to innovative indoor play spaces, the company aims to furnish educators and parents with the tools necessary to foster a rich learning environment. Graham Bone, Managing Director of ABC School Supplies, commented on the launch, saying, “The goal has always been to support the educational journey of every child. With this new range of products, the team is excited to offer resources that not only cover fundamental academic subjects but also promote crucial areas such as technology, engineering, and sustainability.” The new product line includes a variety of outdoor play equipment, such as items for sand and water activities, as well as tools for exploring gardening and sustainability. This selection is designed to encourage active learning and help children develop a deeper understanding and appreciation of the natural world. Furthermore, ABC School Supplies has expanded its range of art and craft supplies, all of which are stocked locally in Australia. This ensures that schools and childcare centres can quickly and easily access materials to help children express their creativity and enhance their motor skills. “The team believes that art plays a vital role in education, which is why the team ensured that the art and craft supplies are readily available for educators to inspire and engage their students,” added Bone. Looking to the future, ABC School Supplies is committed to continual growth and innovation in the educational sector. “As everyone looks ahead, the focus will remain on expanding the offerings and adapting to the evolving educational needs of the community. The team is dedicated to being at the forefront of educational resources and support,” Bone shared regarding the company’s future direction. The new product line is now available and can be viewed at ABC School Supplies’ showroom at Unit 2/8-10 Merritt St, Capalaba QLD 4157. Educators and parents are invited to explore the range and discover the many ways these resources can enrich the educational experiences of their children. For more information about ABC School Supplies and its new innovative product line, please contact Graham Bone at 1300 200 728 or via email at info@abcschoolsupplies.com.au. Media Contact Organization: ABC School Supplies Contact Person: Graham Bone Website: https://abcschoolsupplies.com.au/ Email: Send Email Contact Number: +611300200728 Address: Unit 2/8 – 10 Merritt St Address 2: Capalaba QLD 4157 Country: Australia Release Id: 25042411345 The post ABC School Supplies Offers New Innovative Product Line in Brisbane appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

Radiant Smiles Dental Care Offers Efficient Lingual Braces Solutions in Perth

Australia, 25th Apr 2024 – Radiant Smiles Dental Care, a leading dental practice located in Yokine, has announced the introduction of efficient lingual braces solutions tailored for adults and teenagers seeking discreet orthodontic treatment radiantsmiles.com.au/orthodontic-braces-perth/. These custom-made braces are fixed behind the teeth, offering an aesthetic alternative to traditional front-facing braces and aligners. Lingual braces, often chosen for their invisibility, are designed to correct the same dental issues as traditional braces, such as misaligned teeth, overcrowding, and bite irregularities. However, unlike traditional braces, lingual braces are virtually undetectable, providing an appealing option for those who prefer a less noticeable orthodontic treatment. Dr. Anand Ponnusamy, Principal Dentist at Radiant Smiles Dental Care, emphasised the effectiveness of this innovative treatment, stating, “Lingual braces provide the patients with the unique advantage of correcting dental alignment issues without the aesthetic concerns associated with traditional braces. Custom-fitted to the individual contours of each patient’s teeth, they deliver not only optimal comfort but also exceptional results.” The process for fitting lingual braces involves taking a precise dental impression or scan of the teeth, which is then used to create custom brackets. This tailored approach ensures a perfect fit and maximises both the effectiveness and comfort of the treatment. Patients can expect to wear the braces for a period ranging from 18 to 24 months, depending on the complexity of their dental alignment issues. “Lingual braces are not only comparable in effectiveness to traditional braces but, in some cases, may even surpass them and other alternatives like Invisalign, particularly when dealing with more complex alignment and bite corrections,” added Dr. Ponnusamy. Looking forward, Radiant Smiles Dental Care is committed to continuing its investment in advanced dental technologies and treatments that enhance patient outcomes and experiences. “The goal is to remain at the forefront of innovative dental solutions,” Dr. Ponnusamy remarked about the future. “Introducing lingual braces is part of the ongoing effort to offer comprehensive and discreet treatment options to the patients. The team is excited about the possibilities this brings and are committed to ensuring the patients receive the very best in dental care.” The new lingual braces service is now available at Radiant Smiles Dental Care’s clinic in Yokine, Perth. Patients seeking a discreet and effective solution to their orthodontic needs are encouraged to contact the clinic to schedule a consultation. Radiant Smiles Dental Care is dedicated to offering high-quality dental solutions and personalised care in a comfortable and welcoming environment. For more information regarding lingual braces Perth, please contact at (08) 9440 3654 or email at admin@radiantsmiles.com.au or visit the clinic at Shop 6/201 Flinders Street, Yokine WA 6060. Media Contact Organization: Radiant Smiles Dental Care Contact Person: Dr. Anand Ponnusamy Website: https://radiantsmiles.com.au/ Email: Send Email Contact Number: +61894403654 Address: Shop 6/201 Flinders Street Address 2: Yokine WA 6060 Country: Australia Release Id: 25042411351 The post Radiant Smiles Dental Care Offers Efficient Lingual Braces Solutions in Perth appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

OurPCB Announces PCB Assembly Services

China, 25th Apr 2024 – OurPCB, a leading provider of comprehensive PCB solutions, is pleased to announce the expansion of its services with the introduction of advanced PCB assembly capabilities ourpcb.com/pcb-assembly. This new service enhancement is set to bolster the company’s position in the global PCB industry, providing clients with a broader range of options in prototype assembly, including wiring harness assembly, injection, and conformal coating. Located in Shenzhen, OurPCB’s primary facility spans 3,000 square meters and is equipped with state-of-the-art technology, including 7 YAMAHA SMT lines, X-ray, and AOI systems. This facility is designed to cater to standard PCB assembly needs with a focus on quality and efficiency. With a dedicated workforce of 110 employees, OurPCB is committed to delivering exceptional service at competitive prices. “The expansion into full-scale PCB assembly services marks a significant milestone for OurPCB,” said Ivy Zhao, Spokesperson for OurPCB. “The team is now equipped to offer the clients end-to-end solutions in PCB prototyping and assembly, ensuring high-quality results that meet the dynamic needs of industries that the team serves.” In addition to the Shenzhen facility, OurPCB operates a second factory in Shijiazhuang. This 6,000 square meter facility focuses on advanced PCB assembly services and features 5 SIEMENS SMT lines. With 200 skilled employees, this plant specializes in handling intricate and technologically advanced projects, further emphasizing OurPCB’s capability to manage a wide array of client requirements. “The Shijiazhuang factory is a testament to the dedication to innovation and excellence in PCB assembly,” added Zhao. “With advanced equipment and a larger workforce, the team here is better positioned to tackle the most challenging projects, pushing the boundaries of what’s possible in PCB technology.” Looking towards the future, OurPCB remains committed to investing in the latest technologies and expanding its service offerings. “As everyone moves forward, the focus will be on leveraging technological advancements to enhance the service capabilities further,” Zhao explained. “The goal is not only to meet the current demands of the customers, but also to anticipate future needs and adapt swiftly. The team is excited about the opportunities this expansion brings and are committed to continuing the role as a trusted leader in the PCB industry.” OurPCB’s extended services are now operational, and the company invites potential and existing clients to explore the new capabilities and discuss how OurPCB can support their specific PCB assembly needs. For more information about OurPCB and its PCB assembly services, please contact:  Contact Ivy Zhao, Spokesperson, at +86-311-85981900 or email the company at customwiring01@gmail.com. Media Contact Organization: OurPCB Contact Person: Ivy Zhao Website: https://www.ourpcb.com/ Email: Send Email Contact Number: +8631185981900 Country: China Release Id: 25042411356 The post OurPCB Announces PCB Assembly Services appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.