MUMBAI, INDIA, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com) - The global Pro AV market is projected to reach $325 billion in 2024, from $306.4 billion in 2023, with India leading the Asia Pacific region in growth, according to the Audiovisual and Integrated Experience Association (AVIXA) 2024 Industry Outlook and Trends Analysis (IOTA).Against this backdrop of robust growth, InfoComm India, the region’s foremost professional audiovisual exhibition, is set to showcase the advanced technologies and solutions driving this rapid expansion that has propelled India to be the fastest-growing market in APAC. The tenth in-person edition of the show will offer opportunities, insights, and context as to how businesses and tech professionals can leverage the transformative technologies of Pro AV to propel their organizations to the next level in the digital revolution era. InfoComm India 2024, the largest edition yet, kicks off from 3 to 5 September at the Jio World Convention Centre (JWCC) in Mumbai and is open to all professionals seeking to better understand and benefit from integrated experience solutions. AVIXA CEO David Labuskes attributes the growth in Pro AV adoption within specific markets and regions to the forces and relationships between market demand for technology upgrades, supply, distribution networks, and systems integration. David, alongside InfoCommAsia Executive Director June Ko will illuminate audiences on India’s current and future Pro AV landscape and opportunities during InfoComm India 2024’s opening session, ‘Navigating New Horizons: Insights and Innovations Shaping India’s Pro AV Landscape’, on opening day at 10.30am.The InfoComm India 2024 Summit offers a deep dive into the intersection of innovation and practical application across its 14 specialty tracks, featuring 50 sessions, and over 90 expert speakers. Attendees can expect to explore hot topics like mastering audiovisual communication, harnessing AI in Pro AV, and empowering sustainable cities. In addition to the recently announced 32 first-time exhibitors (joining the 250 total participating exhibitors and brands) and 30+ new launches, details of several new debuts and experiential activities have leaked just one week before the event. They include:AVOCOR’s global launch of their ‘New S Series’ for education displaysNorwegian-based NEAT’s showcase of their 2024 Red Dot Design Award-winning Neat Centre and Near Bar Generation 2INOGENI’s introduction of their all-new Toggle Rooms for advanced video conferencingUS-based ZEEVEE INC. debuting their Zyper Management Platform.AV MASTER TEECHNOLOGY unveiling their latest product - the 4x1 HDMI SwitcherDATAPATH to demonstrate Aertia’s latest advancements with a real-life mini replica of a control roomTaiwan’s CYPRESS TECHNOLOGY will showcase their all-new AV over IP solution boasting flexible deployment and centralized management Beyond technology and innovation, InfoComm India is designed to better serve Pro AV communities by fostering engagement and connections. From AVIXA’s ‘Flashtracks’, AV Marketer’s Meetup, and the empowering AVIXA Women’s Council, to InfoComm India’s networking breakfasts, next-gen photo booth, to the Multisensory Immersive Experience – an installation co-presented with MSS World + Studio Ocupus, the entire event provides numerous opportunities to meet peers, experts, and potential collaborators.InfoComm India 2024 opens its doors at 9.10am on 3 September. To skip long queues onsite, register and secure your show badge now.For details on the program agenda, visit InfoComm India.To access more press information on InfoComm India 2024, please visit the Digital Press Kit Contact Information: Rest of the World Angie Eng, Marketing Director InfoCommAsia Pte Ltd angieeng@infocommasia.com IndiaSooraj Dhawansooraj@falconfirst.com Copyright 2024 ACN Newswire via SeaPRwire.com.

KUALA LUMPUR, Sept 1, 2024 - (ACN Newswire via SeaPRwire.com) - Flexidynamic Holdings Berhad ("Flexidynamic" or the "Company"), an established solutions provider for the rubber glove manufacturing industry, is pleased to announce its financial results for the second quarter ended 30 June 2024 ("Q2 FY2024").The Group recorded revenue of RM7.76 million for Q2 FY2024, reflecting a strategic shift as the Company capitalised on emerging opportunities in the recovering glove industry. While revenue showed a decline from RM13.30 million in the corresponding quarter of the previous year ("Q2 FY2023"), primarily due to the completion of significant overseas projects in the prior year. Flexidynamic saw a robust increase in demand for repair and maintenance services, system upgrades, and equipment enhancements from its existing customers. This signals a positive market sentiment and the beginning of a rebound in the glove manufacturing sector.Profit before taxation (“PBT”) for Q2 FY2024 was RM0.91 million, slightly lower than the RM0.93 million recorded in Q2 FY2023. However, the Company’s continued focus on cost management and operational efficiency has ensured sustained profitability. Notably, Profit After Tax (“PAT”) soared to RM0.98 million, a significant improvement compared to a Loss After Tax (“LAT”) of RM0.55 million in the same quarter last year, driven by the recognition of deferred tax assets from customer downpayments.The comparison with the immediate preceding quarter (“Q1 FY2024”) further highlights Flexidynamic’s positive trajectory. Revenue surged from RM4.75 million in Q1 FY2024 to RM7.76 million in Q2 FY2024, while PBT experienced a remarkable 501.32% increase, rising from RM0.15 million to RM0.91 million. This strong performance underscores the Company’s ability to navigate a challenging environment and capitalise on the recovery in the glove industry.Mr. Tan Kong Leong, Managing Director of Flexidynamic, commented on the results: “The second quarter of FY2024 marks a significant period of recovery for Flexidynamic as the glove industry shows early signs of resurgence. While the global oversupply of gloves persists, particularly due to the excessive capacity expansion during the Covid-19 pandemic, we are optimistic about the long-term prospects of the industry. Increased hygiene awareness, especially in emerging markets with low glove consumption, is expected to drive demand. Our strategic focus on operational efficiency and cost management has allowed us to effectively leverage this recovery, leading to a substantial increase in profitability.”He added, “In addition to our core operations, we are pleased to announce our recent venture into gamma radiation sterilisation services in collaboration with Gammatech. This initiative not only serves our existing customers in the glove industry but also opens up new opportunities in sectors such as pharmaceuticals, food processing, and packaging. By offering these services, we are poised to expand our market reach and deliver even greater value to our shareholders.”Since its inception in 2012, Flexidynamic has firmly established itself in the rubber glove manufacturing industry. The strategic acquisition of Flexidynamic Engineering Co. Ltd. in Thailand in 2018 has expanded its presence across Southeast Asia, supported by operational offices in Malaysia and Thailand and a manufacturing facility in Banting, Malaysia. The Group has also diversified into infrastructure projects, including a recent RM12.4 million contract for the water treatment plant and water intake at Loji Rawatan Air Chupak, Jajahan Gua Musang, Kelantan, which is expected to contribute positively to earnings. Furthermore, with the Group’s planned provision of sterilisation services using gamma radiation through Gammatech, its 51%-owned subsidiary, Flexidynamic is set to serve not only its existing glove industry customers but also expand into pharmaceuticals, food processing, and packaging sectors, leveraging its expertise to drive sustained growth and diversification.ABOUT FLEXIDYNAMIC HOLDINGS BERHADFounded in 2012, Flexidynamic Holdings Berhad has established itself as a pivotal solutions provider in the rubber glove manufacturing sector, with a significant market presence in countries like Vietnam, Indonesia, and Sri Lanka, supported by strategic offices in Malaysia and Thailand. From its inception focusing on chlorination systems for powder-free glove production, Flexidynamic has expanded its product range and geographical footprint, particularly after the strategic acquisition of Flexidynamic Engineering Co. Ltd. in Thailand in 2018. This acquisition bolstered its support for overseas operations, mainly in the Southeast Asia region. With a relentless focus on innovation and a strong support base, Flexidynamic Group is poised for further growth, leveraging its expertise to venture into new markets and sectors.For more information, visit https://flexidynamic.com/.Issued By: Swan Consultancy Sdn. Bhd. on behalf of Flexidyanmic Holdings BerhadFor more information, please contact:Jazmin WanTel: +60 17-289 4110Email: j.wan@swanconsultancy.bizWilliam YeoTel: +60 13-213 2103Email: w.yeo@swanconsultancy.biz Copyright 2024 ACN Newswire via SeaPRwire.com.

SINGAPORE, Aug 31, 2024 - (ACN Newswire via SeaPRwire.com) - The last few years have been tumultuous, marked by rising inflation, job market fluctuations and housing market volatilities, among other challenges. Despite these difficulties, Singaporeans have shown remarkable resilience, navigating adversity with unwavering strength and determination.Mental resilience aside, the pandemic has also highlighted the importance of maintaining our health resilience, prompting a growing emphasis on enhancing and safeguarding physical health in its aftermath. In fact, a recent Yougov survey found that three out of five residents in Singapore plan to place emphasis on their physical health as their top new year resolution in 2024.In line with this year's National Day theme of "Together, As One United People," LAC (pronounced L-A-C) is dedicated to playing its part in supporting Singaporeans' immunity and health resilience. With a wide range of speciality supplements made conveniently available to people across all walks of life, LAC aims to help individuals tide through current and future health challenges, reinforcing our collective strength, unity and well-being.Formulated with Traditional Chinese Medicine ingredients such as Lingzhi and Cordyceps, LAC ACTIVATED® Zhi® Immunity serves as a natural booster of the immune system. These well-known ingredients help strengthen the body’s natural resilience, accelerate recovery and boost energy levels to safeguard against illnesses caused by the fatigue of daily life. Additionally, the natural energy boosters found in LAC ACTIVATED® Zhi® Immunity also help to improve focus and alertness without relying on the need for stimulants such as caffeine.For busy individuals looking to enhance their immunity, multivitamins can be a convenient addition to daily routines. LAC Women’s Mega Multi Active and LAC Men’s Mega Multi Active are designed with essential ingredients like Zinc and Vitamin C to support immune health, making them perfect for those with demanding schedules. These supplements also cater to the different nutritional needs of men and women with calcium to combat osteoporosis in women and Branched-Chain Amino Acids to enhance exercise performance and muscle growth in men, serving as an effective and convenient all-in-one solution to help bolster the body’s natural immunity and safeguard against potential illnesses.As the nation celebrates shared identities and resilience this National Day, it is crucial to prioritise physical health amidst current societal challenges, so as to be fully present to spend quality time with people who matter. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com) - Gome Retail Holdings Limited (Stock code: 493.HK, "Gome Retail" or the "Company", together with its subsidiaries, “the Group”) announced its unaudited six-month results for the six months ended June 30, 2024 (the "Reporting Period").Focusing on the main industry to consolidate the border, take multiple measures to actively resolve the debt problemIn the first half of 2024, the domestic economy was affected by the severe and complex international environment and cyclical adjustments of domestic policies, and recovery was still slow. From an industry perspective, real estate market declined significantly, and the income growth of local governments and households slowed down. The home appliance industry has been affected by these factors, and the retail sales growth of all types of home appliances has slowed to varying degrees in the first half of the year. In the first half of 2024, the Group recorded revenue of approximately RMB169 million; and loss attributable to owners of the parent was approximately RMB4,432 million.In the first half of 2024, the Group continued to focus on its core retail business, activate the “Home‧Living” omni-retail ecosystem, actively and extensively explore a variety of procurement channels and methods, and focus on the retail of home appliances, consumer electronic products, groceries and various types of daily necessities. It also promoted offline upgrades and strengthened new operating methods such as online live streaming. In addition, it accelerated the development of franchising business and the GOME Automobile Experience Hall commenced its operation, creating new growth opportunities. In respect of dealing with its debt issues, the Group has continued to divest from serious lossmaking businesses and non-core assets. Furthermore, it also disposed some of its long-term assets to settle debts, and actively negotiated with creditors for debt settlements.Reshape the retail business, promote single store franchises, and continue to optimize and upgrade new model business strategiesGome's new retail model business strategy continues to be optimized and upgraded. On the one hand, Gome uses live broadcast as the fulcrum to promote the focus on its main business, tap new increments through short videos, live broadcast and other marketing models, and consolidate online business; on the other hand, the Company actively promotes single-store franchises As the core asset-light joint venture and cooperation model, we get rid of "heavy assetoperation" and open up "single store franchise" with the "light asset", "heavy operation" and "strong management" operating model. The Company fully opens brand authorization to franchisees, focuses on supply chain model innovation, and shifts from electrical appliance franchises to all-industry franchises, quickly forming a franchise network of different models and different formats. Based on maintaining the original franchise equity cooperation, single stores are encouraged to join similar franchise equity form of cooperation.During the reporting period, the single-store franchise joint venture cooperation model has entered the substantive operation stage and achieved rapid development, attracting the attention of many investors. At present, dozens of companies have signed contracts, and nearly a hundred companies are in the process of signing contracts.Actively exploring new business growth curves, the GOME Automobile Experience Hallhas received enthusiastic response from the marketGome Retail focuses on the experience of its main business, at the same time, actively thinks about changes and strives for progress, explores new growth models, and builds offline automoblie experiencehall. Gome Automobile Experience Hall is OMO's one-stop car selection, car purchase, and car use platform with product closed-loop empowerment capabilities. It uses a solid store expansion model to empower the automoblie product market and solve the problem of individual car dealers' purchase difficulties and expensive purchases. Meanwhile, it also ensures that consumers in various regional markets can buy new car products with clear channels, low prices and transparency, bringing consumers a new car buying experience. With its unique business model and enabling support including vehicle source channels, logistics and warehousing, Gome Automobile Experience Hall has received cooperation intentions from many well-known domestic and overseas automobile brands. During the Reporting Period, the Gome Automobile Experience Hall has started substantial operations and has received good market feedback.Looking ahead, the government emphasized the active expansion of domestic demand, further clarified the comprehensive relaxation of real estate controls, and emphasized that "the focus of economic policies will shift more to benefiting people's livelihood and promoting consumption." It is believed that more positive policies will be introduced in the second half of this year to support the economy. With a steady recovery, the industry environment is expected to improve.Gome Retail management said: “In the future, the retail industry will face more new opportunities and challenges, Gome has never forgotten its original intention of serving the people's better life and its responsibility as a listed company. The Company's management will still work hard, lean management, integrate resources and business collaboration, and create direct operational contributions; at the same time, we also look forward to continuing to work with more partners to empower each other and jointly help the retail industry to upgrade and iterate, to satisfy Chinese families’ pursuit of a better life.”- End -About GOME RETAIL HOLDINGS LIMITEDGOME RETAIL HOLDINGS LIMITED was listed on the Hong Kong Stock Exchange in July 2004 (Stock Code: 493HK). Founded in 1987 in China, GOME is committed to building China's leading technology-based, experiential, entertainment-oriented and socialized home-life technology retailer. With the strategy of "Home Living", Gome Group focuses on retailing of electrical appliances and consumer electronics products, and builds a closed-loop ecosystem for the entire product line.Please visit our website for more information: www.gome.com.hkIssued by EVER BLOOM (HK) COMMUNICATIONS CONSULTANTS GROUP LIMITED for and on behalf of GOME Retail Holdings Limited. For further information, please contact:EVER BLOOM (HK) COMMUNICATIONS CONSULTANTS GROUP LIMITEDMs Wu Xiaoyue / Ms Isla GuTel:(852) 3468 8874 Fax:(852) 2111 1103Mail:xiaoyue.wu@everbloom.com.cn/jin.gu@everbloom.com.cn Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com) - Inkeverse Group Limited ("Inkeverse" or "the Group", Stock Code: 3700.HK) announces its full-year results for the period ended June 30, 2024.During the reporting period, the Group’s total revenue was RMB 3533.2 million, up 13.0% compared to the same period in 2023. Revenue from the Group’s value-added services was RMB 2601.2 million,yoy 12.4%, representing 73.6% of the Group’s overall revenue. The content services business recorded total revenue of RMB 642.7 million,yoy 36.1%, accounting for 18.2% of the Group’s overall revenue.Live Streaming and Social Ecosystem Thrives, Creating a Sustainable Development LoopThe Group’s live streaming and social business, through long-term stable operations and continuous refinement, has built a robust commercial ecosystem. The core product, "Inke Live," maintains its brand advantage in the live streaming sector. Despite market fluctuations, it has created a healthy, active user community through a mature and evolving operational system and ongoing optimization of the ecosystem structure.The social business continues to benefit from its product matrix advantage, adapting flexibly to the increasingly diverse and refined needs of users. The Group adjusts its strategy with an efficient product matrix to precisely match emerging social scenarios, deeply penetrating multiple verticals, and satisfying differentiated social needs, demonstrating strong market adaptability. The stable and innovative operation of the Group’s two core businesses provides stable and substantial cash flow support, effectively driving the Group’s deep expansion and continuous innovation in more business areas.Playlet Business Leads the Industry, Secure Industry-Leading Position with Full Industry Chain LayoutIn the face of intensifying competition in the short -form video market, the Group remains at the forefront of the industry due to its forward-looking layout and innovation. By leveraging early precision entry and efficient investment strategies, the Group has rapidly established a complete ecosystem for the playlet industry, optimizing the entire chain from content creation to distribution and promotion, ensuring steady business growth. This underscores the Group’s deep understanding of the playlet field and lays a solid foundation for continued industry leadership.Looking ahead, the Group is cautiously advancing the deep integration of playlets with cultural tourism and other diverse industries, aiming to create a series of high-quality, high-grade micro-playlet to offer a richer audiovisual experience to viewers. Simultaneously, the Group is exploring new opportunities in overseas playlets, broadening its business scope through internationalization. Breakthrough in Overseas Expansion, Successfully Opening New MarketsThe Group continues to deepen its overseas strategy and has achieved results. Leveraging its rich experience in the domestic market, the Group adopts a vertically segmented matrix strategy to rapidly enter target markets. To better meet local needs, the Group integrates rich local elements into product design, enhancing market competitiveness. Some products launched in Southeast Asia have successfully completed commercial validation, providing valuable experience and models for expansion into other regions. This year, the Group has entered emerging markets such as the Middle East, launching products and achieving a certain level of user accumulation.By continuously optimizing product models and deeply understanding overseas user needs, the Group has significantly shortened the adaptation cycle in new markets and accumulated valuable localized operational experience. This experience not only lays a solid foundation for the Group’s deep expansion in overseas markets but also provides strong support for further exploration in these markets.Future OutlookLooking ahead, the Group will continue to gain insights into user needs, enrich the social product matrix, and solidify competitive advantages through matrix-based synergy while exploring new growth points through innovation. Relying on its deep accumulation in interactive entertainment, the Group will quickly incubate new products, optimize content quality, enhance user experience and platform stickiness, and maintain its leading position in the market. Simultaneously, the Group is actively adjusting its overseas operations strategy, deepening localization, enriching product formats, and expanding efforts in emerging markets such as Southeast Asia and the Middle East, aiming to achieve scalable growth. Additionally, the Group is keeping up with technological frontiers, actively laying out Web3.0 and AI fields, planning strategic cryptocurrency holdings, and promoting AI applications to lead industry future development and create new interactive entertainment experiences.-End-About Inkeverse Group Limited: Inkeverse Group (3700.HK) is a leading full-scenario new social platform in China, formerly known as Inke Interactive Entertainment Group. It’s core business covers live streaming social, playlets, and overseas segments, driving performance growth through a matrix of products and diversified business formats. In 2015, the first product, Inke Live, was launched, initiating the domestic mobile live streaming trend. In 2018, Inke, just three years after its establishment, was listed on the Hong Kong Stock Exchange as the first entertainment live streaming stock. Since then, the Group has incubated multiple products around the "interactive social" strategy, creating a rich social product matrix. In the second half of 2022, the Group pioneered the short drama market, firmly establishing itself as an industry leader with its early advantage and high-quality content. The Group is also accelerating its global layout and expanding overseas market growth. In 2022, the Group officially renamed itself Inkeverse and is actively laying out AI, Web3.0, and other cutting-edge fields to offer users rich, multidimensional social scenarios and services, further enhancing commercial value.For more information, please visit Inkeverse IR website: https://ir.inkeverse.com/sc/ir_overview.phpFor enquiry, please contact Intelligent Joy Limited Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com) TIME Interconnect Technology Limited (“TIME Interconnect”, Stock Code: 1729.HK, with its subsidiaries collectively referred to as the “Group”) is pleased to announce its interim results for the six months ended 30 June 2024 (the “Current Interim Period”).During the Current Interim Period, the pace of economic expansion has been slow, owing to the factors, such as still-high borrowing costs and withdrawal of fiscal support, and the increasing geo-economic fragmentation and geo-politic tension. In spite of these challenges and difficulties, the Group strives to improve its business operations and financial position by proactively seeking potential investment opportunities that would diversify the Group's existing business portfolio, broaden its source of income and enhance value to the shareholders of the company. Benefiting from the AI boom, the revenue of data centre sector and specialty cable sector have significantly increased by 16.6% and 93.6% respectively during the Current Interim Period and the profitability was relatively improved. In addition, the Group paid more attention and efforts in the medical equipment cables business, and with the setup of two new plants, the revenue of medical equipment sector has also significantly increased by 166.0%. At the same time, the Group has completed its investment in two medical and healthcare-related companies in July 2024. The overall profitability of cables and wires has also improved due to these sectors are carrying a better margin. Meanwhile, overseas orders for networking cable sector continued to improve. The revenue of networking cable sector has increased by 25.1% during the Current Interim Period.For the Current Interim Period, the Group recorded revenue amounting to HK$2,666.1 million, represented an increase of HK$39.4 million or 1.5% as compared with HK$2,626.7 million for the six month ended 30 September 2023 (“Previous Interim Period”). Operating profit for the Current Interim Period was HK$309.2 million, represented an increase of HK$74.1 million or 31.5%, as compared with HK$235.1 million for the Previous Interim Period, with the operating profit margin raised from 9.0% to 11.6% for the Current Interim Period. The increase of operating profit was mainly attributable to changes of product mix, higher revenue from medical equipment, data centre and specialty cable sectors with all three market sectors having better profit margin; and lower revenue and profit margin from the server sector.For the Current Interim Period, basic earnings per share was HK10.4 cents, which is 33.3% higher than the basic earnings per share of HK7.8 cents in the Previous Interim Period. The Board Directors of the company is pleased to declare an interim dividend of HK1 cent per share, amounting to a total of approximately HK$19.5 million.Business ReviewThe Group’s turnover by market sector is as follows:Market SectorTurnover (HK$ million)Share of TurnoverSix months ended 30 June 2024Six months ended 30 September 2023ChangesSix months ended 30 June 2024Six months ended 30 September 2023Cable assembly Data centre564.4484.116.6%21.2%18.4% Telecommunication286.5348.6-17.8%10.7%13.3% Medical equipment386.0145.1166.0%14.5%5.5% Industrial equipment21.312.866.4%0.8%0.5% Automotive68.469.5-1.6%2.6%2.7%Digital cable Networking cable614.7491.225.1%23.0%18.7% Specialty cable111.557.693.6%4.2%2.2%Server613.31,017.8-39.7%23.0%38.7%Total2,666.12,626.71.5%100%100%Data centre sectorThe emergence of Al drove the growth and development of the Group's data centre business. During the Current Interim Period, the revenue of data centre sector increased by HK$80.3 million or 16.6% to HK$564.4 million as compared to HK$484.1 million for the Previous Interim Period due to the upgrading of servers and the profitability was relatively improved. Orders from this sector maintained at a high shipment level during the Current Interim Period, and remained the highest revenue sector in the cable assembly business.Telecommunication sectorIt recorded a decrease of revenue from HK$348.6 million for the Previous Interim Period to HK$286.5 million for the Current Interim Period, represented a decrease of HK$62.1 million or 17.8%. The main customers of telecommunication sector are located in PRC, and the main reason for the decline in revenue was the impact of the Lunar New year holidays during the Current Interim Period as compared to the Previous Interim Period.Medical equipment sectorDuring the Current Interim Period, the Group paid more attention and efforts in the medical equipment cables business and continued to enhance its medical equipment customers base, as well as to strengthen its R& D capabilities during the Current Interim Period. Benefited from the setup of two new plants, Time Kunshan and Time Jiangxi, last year and expanded production capacity and R&D capabilities for medical equipment cables products, the revenue of medical equipment sector has significantly increased to HK$386.0 million, represented an increase of HK$240.9 million or 166.0% as compared with HK$145.1 million for the Previous Interim Period.Industrial equipment sectorThe global economy recovered but the pace was slower than expected. The divergences between countries have maintained. High interest rates directly raised the cost of borrowing and constraining economic activity. However, there was slight improvement in the industrial equipment sector. The revenue of industrial equipment sector increased by 66.4% from HK$12.8 million for the Previous Interim Period to HK$21.3 million for the Current Interim Period.Automotive sectorThe revenue of automotive sector was HK$68.4 million for the Current Interim Period, compared with the revenue for the Previous Interim Period of HK$69.5 million, represented a slight decrease of 1.6%. Affected by geopolitics and trading war, the sales orders of automotive wire harness products maintained a lower level during the Current Interim Period. But the Group still believes that the automotive wiring products can help the Group to provide its customers with a broader product portfolio. To capture opportunities brought by the booming electric vehicle market, the Group’s new wholly-owned subsidiary, Linkz Cables Mexico, S. de R.L. de C.V. ("Linkz Mexico"), has been setup in Mexico to increase its market share in markets outside China and Asia.Networking cable sectorEven a lot of negative factors, such as the divergences between countries, wars, high interest rates, strong US dollar and high inflation, were remained exist, overseas orders for networking cable sector continued to improve. The revenue of networking cable for the Current Interim Period was HK$614.7 million, represented an increase of HK$123.5 million or 25.1% as compared with HK$491.2 million for the Previous Interim Period. The rise in copper price indicated that market demand is continuing to improve. The establishment of Linkz Mexico also helps to increase its market share in the U.S. and Mexico markets.Specialty cable sectorSame as data centre sector, Al also stimulated the growth and development of high-speed cables in the specialty cable sector. For the Current Interim Period, the revenue of specialty cable was HK$111.5 million, represented a significant increase of HK$53.9 million or 93.6% as compared with HK$57.6 million for the Previous Interim Period. High-speed cables also carried a better profit margin which benefited to the Group's overall profitability.Server sectorFor the Current Interim Period, the revenue of server was HK$613.3 million, represented a decrease of HK$404.5 million or 39.7% as compared with HK$1,017.8 million for the Previous Interim Period. After a peak of new products shipments at the end of last year, there was a shortage of key components supply this year, resulting in some orders need to be rescheduled.ProspectLooking ahead, on the downside, geopolitical tensions and high interest rates continue to dampen global economic activities. According to the latest forecast of the "World Economic Outlook" issued by the "International Monetary Fund" in 2024, global growth estimated at 3.2 percent in 2023, is projected to continue at the same pace in 2024 and 2025. The latest forecast for global growth five years from now at 3.1 percent is at its lowest in decades. On the upside, inflation could fall faster than expected amid further gains in labor force participation, allowing central banks to bring easing plans forward. Artificial intelligence and stronger structural reforms than anticipated could spur productivity. However, even the Group is facing such challenges and difficulties in the macro-economic environment, the management remains confident in its future business. With the support of Luxshare Group, the Group enjoys advantages in both product manufacturing capabilities and financial strength. The Group will continue to develop strategic businesses and markets, strengthen its business foundation and achieve impressive results during the economic downturn.The Group believes that the PRC’s continued acceleration of 5G technology research and development, as well as the new social normals caused by the epidemic, including work-from-home and online meetings, are expected to drive the demand of cable assembly products and telecommunication sector and benefit the Group’s business growth. In light of this, the management remains confident in 5G-related business.On the other hand, considering the vigorous development of the automotive and electric vehicle markets, the Group believes that the automotive wire harness products can help the Group to provide its customers with a broader product portfolio, and to step in new business sector by enriching the Group's business portfolio and broadening its unique customer base, helping the Group to capture opportunities brought by the booming electric vehicle market. In view of these, the Group has setup a new wholly-owned subsidiary, Linkz Mexico in Mexico to increase its market share in markets outside China and Asia. A new plant is expected to be put into production in the second half of 2024. The new factory will produce digital cables and automotive wire harness products. This is a "China-Plus-One" strategy, which can protect supply chains and export markets against geopolitical tensions and unforeseen disruptions and enable the Group to capture market opportunities upon the arrival of this generation 5G network.Moreover, the utilisation rate of cloud technology in the companies around the world is continuously increasing, which is expected to drive the development of data centre. Meanwhile, the development of 5G will boost the application of big data, IoT, internet gaming and video streaming through cloud platform. To capture the huge market demand, the Group extended its business to server sector, the products offered by the Group under this business are mainly applied in data centres. Having considered that (i) China is actively conducting investment activities to build digital infrastructure; (ii) the PRC manufacturers continue to increase the share of local supply chain due to geopolitics relationship; and (iii) Luxshare Precision has extensive technological knowhow and good customers’ relationships, the Group is optimistic on the potential demand in the market. Meanwhile, the emergence of Al drove the growth and development of the Group's server and data centre sector business. However, geo-economic fragmentation continues to intensify, barriers to the flow of goods, capital and people continue to increase, and supply chain problems continue to arise. All of these have created challenges on the business operations of the Group. The Group will work very hard to find any business solutions to cope with the current economic environment as well as the complex geopolitical relationship around the globe, and continue to expand and consolidate the development of server business.As for the medical equipment sector, the Group expects the demand for medical equipment cables will continue to bring positive impact to the Group’s medical equipment cables orders this year. To catch up with the trend, the Group has established two wholly-owned subsidiaries, Time Kunshan and Time Jiangxi, to expand production capacity and R&D capabilities for medical equipment cables products.Moreover, the Group completed the investment in two medical and health related companies in July 2024. One is Cosmic M.E. Inc. (“CME”), which has become a subsidiary of the Company following its share subscription. With a proven operating history of over 30 years, CME is engaged in the developing, manufacturing and selling of electronic medical instruments and other medical equipment and devices. The Group believes that the subscription will allow it to leverage on CME's extensive knowhow and existing production facilities to immediately deliver reliable and high quality medical products to its existing and new customers. It will certainly bring synergy to both parties for the development of medical related products in terms of R&D, manufacturing capabilities and global market expansion. Another one is Valkyrie Industries Limited ("Valkyrie"), the company entitled shareholding 16.75% by share subscription. Valkyrie is a UK based startup with 7 years' long professional experience in haptics and virtual reality. It has developed haptic technology with patents, which can create weight, resistance and assistive forces for users in virtual simulations. It combines fitness, wellness and gaming for optimising human performance for the huge markets of games and neuromuscular recovery. The Group considered that the Valkyrie's technology will be a good opportunity for the Group to extend its product mix offered to the existing major customer and also tap into the new business sector so as to diversify the Group's business portfolio and broaden its income stream with distinct customer base. Besides, a new liaison office, Time Interconnect America Inc., has been established in San Diego since July 2024 to seize more business opportunities in medical-related markets. Moving ahead, the Group believes that this sector will maintain its dynamic pace of growth, considering the arising demand from the medical equipment market. The Group will pay more attention and efforts in this sector and continue to enhance its medical equipment customers base, as well as to strengthen its R&D capabilities.Riding on the PRC government's policy of "Channelling Computing Resources from the Eastern Areas to the Western Regions", Luxshare Precision will deploy the platform advantages and market position of the Luxshare Group and introduce strategic resources to the Company with intention to further strengthen the Company's potential for continuous growth and core competitiveness in its market and to enable the Company to develop strategically to become an all-rounded network solutions and infrastructure provider, so as to create greater value for the shareholders. In this regard, Luxshare Precision is conducting a strategic review of the operations and financial position of the Company, and actively exploring business opportunities for the growth and development, in both organic and inorganic manners, for the Company. The Company believes that, with the support of Luxshare Precision, the Group will create more and more possibilities in the future.– End –About TIME Interconnect Technology LimitedTIME Interconnect Technology Limited is a well-established supplier of customised interconnect solutions with over 30 years’ experience in the industry. The Group is headquartered in Hong Kong, and has manufacturing facilities in Shanghai, Suzhou, Jiangxi and Huizhou, the People’s Republic of China (“PRC”), Japan and Mexico. The Group currently manufactures and supplies a wide variety of copper & optical fiber cable assemblies, digital cable products, medical products and servers which are produced to the specifications and designs of its individual customer partners. Its products are used by a number of established PRC and international customers in a variety of market sectors, including telecommunication, data centre, industrial equipment, medical equipment, automotive wire harness, digital cables and server.This press release is disseminated by Bright Communications International Limited on behalf of TIME Interconnect Technology Limited. Copyright 2024 ACN Newswire via SeaPRwire.com.