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Johnson Electric reports Business and Unaudited Financial Information for the Third Quarter of Financial Year 2020/21

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HONG KONG SAR – Media OutReach – 14 January 2021 – This news release is made by Johnson Electric Holdings Limited (“Johnson Electric” or the “Company” and together with its subsidiaries, the “Group”) for the business operations and selected unaudited financial information of the Group for the three months and the nine months ended 31 December 2020.

 

The Board of Directors (the “Board”) of the Company considers the publication of quarterly sales performance updates to be consistent with international corporate disclosure best practice. The objective of this news release is to provide transparency and to ensure that investors and potential investors receive equal access to the same information at the same time.

 

The Group’s sales for the quarter ended 31 December 2020 were US$912 million compared to US$773 million for the same quarter in 2019, an increase of 18%. Excluding currency movements, sales increased by 15% to US$887 million. Foreign exchange rate movements had a positive effect of US$25 million on the Group’s sales for the quarter ended 31 December 2020. This was mainly due to the impact of the stronger average exchange rates for the Euro and Chinese Renminbi against the US Dollar, compared to the same quarter in 2019.

 

The recovery in sales experienced in the second quarter gathered momentum in the third quarter, partially mitigating the deep pandemic-driven decline experienced in the first quarter of the financial year. Overall, the Group recorded sales of US$2,242 million for the nine months ended 31 December 2020, compared to US$2,338 million for the same period in 2019, a decrease of 4%. Excluding currency movements, sales for the nine months ended 31 December 2020 decreased by 5%.

 

Sales of Automotive Products Group (“APG”)

APG’s sales for the quarter ended 31 December 2020 increased by US$107 million or 17% compared to the same quarter in 2019.  Excluding currency effects, APG’s sales increased by US$84 million or 13% in the quarter.

 

APG’s sales outperformed compared to automotive industry production volumes, in all regions, in both the nine months and the quarter ended 31 December 2020. Although the COVID-19 pandemic sharply reduced APG’s sales in April and May 2020, particularly in Europe and the Americas, the Group subsequently experienced a significant recovery in demand. The sales changes by region, excluding currency effects, were as follows:

 

 

Quarter ended
31 December 2020

Nine months ended
31 December 2020

Asia

increased 16%

increased 6%

Europe

increased 7%

decreased 20%

Americas

increased 17%

decreased 13%

Total

increased 13%

decreased 8%

 

Johnson Electric’s innovative technology and product portfolio remains well positioned to meet growing demand for the electrification of critical automotive functions to increase powertrain efficiency, reduce vehicle weight, improve safety, reliability and enhance comfort.

 

Sales of Industry Products Group (“IPG”)

IPG’s sales for the quarter ended 31 December 2020 increased by US$32 million or 21% compared to the same quarter in 2019. Excluding currency effects, IPG’s sales increased by US$29 million or 20% for the quarter.

 

IPG’s business and financial performance benefited significantly from changes in consumer behaviour and expenditure in response to the COVID-19 pandemic. As consumers in many countries were required to spend more time at home, the division experienced strong demand for products for food and beverage, floor care, home office printer, lawn and garden, window automation, power tool, sanitation and ventilation applications. The medical segment also experienced strong growth, driven by the long-term imperative to reduce the labour intensity of hospital procedures.

 

These positive demand dynamics were partly offset by the COVID-19 pandemic’s adverse impact on some specific customers and market segments. In Europe and the Americas, sales to many small and medium enterprises decreased as consumers switched to purchasing through the online sales channels of larger competitors. Commercial printers, metering, flexible printed products and switches segments were also slower than usual.

 

On a regional basis, IPG experienced the highest sales growth in Asia due in large part to the rapid recovery of China’s industrial sector and strong global demand for the country’s manufactured goods. In Europe and the Americas, the path to recovery in some segments has taken somewhat longer and in the US, in particular, IPG’s sales have been hampered by delays from port congestion as well as land and rail logistical bottlenecks. The sales changes by region, excluding currency effects, were as follows:

 

 

Quarter ended
31 December 2020

Nine months ended
31 December 2020

Asia

increased 35%

increased 18%

Europe

increased 22%

increased 6%

Americas

flat

decreased 3%

Total

increased 20%

increased 8%

 

Chairman’s Comments on Sales Performance and Outlook

Concerning the quarter ended 31 December 2020 sales performance, the Chairman and Chief Executive, Dr. Patrick Shui-Chung Wang, said, “The strong recovery in demand that we experienced during the second quarter continued in the third quarter — with sales levels in both APG and IPG running well ahead of the third quarter in the prior year.  Although there remains some uncertainty as to how the upsurge in COVID-19 in many Western countries could impact business activity and consumer confidence, the Group is presently on track to deliver full-year total sales close to the level achieved in the prior financial year.  This would represent a very satisfactory achievement given the fact that such a large portion of Johnson Electric’s operations was either shutdown or significantly constrained during the first two months of the current financial year.”

 

Cautionary Statement

Shareholders and potential investors in the Company are reminded that the information provided in this news release, including information related to the expected outlook for the full year, is based on the Group’s unaudited internal records and management accounts. This information has not been reviewed or audited by the Company’s auditors.

 

Shareholders and potential investors should exercise caution when dealing or investing in the shares of the Company.

About Johnson Electric Group

The Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 35,000 individuals in 23 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: www.johnsonelectric.com.

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TikTok And Kuaishou Rival, Lomotif, Sells To ZASH

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Lomotif Platform is One of the Top Worldwide Social Video-Sharing Apps Today Definitive Agreement Gives ZASH Majority Controlling Interest

 

Vinco Ventures, Inc. (NASDAQ:BBIG) – BETHLEHEM, PA AND SINGAPORE – Media OutReach – 23 February 2021 – ZASH Global Media and Entertainment Corporation (“ZASH“), the entertainment industry disrupter led by co-founders Ted Farnsworth, financier and former MoviePass Chairman, early Musical.ly investor Jaeson Ma, and early Triller visionary and board member, Vincent Butta, has entered into a definitive agreement to acquire a majority controlling interest in Lomotif Private Limited (“Lomotif“), the Singapore-based top video-sharing social networking platform and budding rival to TikTok, and Kuaishou (1024.HK on the Hong Kong Stock Exchange). The closing of the Lomotif acquisition by ZASH is scheduled to occur concurrently with the closing of ZASH’s merger and business combination with Vinco Ventures, Inc. (“Vinco“), which was previously announced in a joint press release in January 2021. The closing of the Lomotif acquisition is subject to certain customary conditions to closing as described in the definitive acquisition agreement.

Upon completion of the merger between ZASH and Vinco, ZASH will become a public company and controlling shareholder of Vinco, making Lomotif one of the top global, pure play video-sharing social networking platforms to be owned by a US publicly traded company, competing with TikTok and Kuaishou in the space.

ZASH believes that Lomotif is one of the fastest growing video-sharing social networking platforms in its category over the last three years and in Latin America, Asia, Europe and West Africa, Lomotif has increased its average monthly community by over 400 percent in this time span. Historically, over 10 billion times atomic clips (User Generated Content (UGC)) have been used to create more than 740+ million videos on the platform since launch.

The following additional data further shows the Lomotif platform’s dominant, global user traction and reach that ZASH believes demonstrates massive untapped value and Lomotif’s potential growth:

  • 10+ billion video atomic clips usage
  • 740+ million super-clip videos (Lomotifs) created to date
  • 225+ million installations globally (in 200+ countries in 300+ languages)
  • 210+ million lifetime community
  • 160+ million total lifetime viewers (iOS/Android)
  • 120+ million total lifetime creators
  • 300+ million video views on the platform per month

Lomotif Founder and Chief Executive Officer, Paul Yang, will continue to lead Lomotif upon completion of the acquisition. “With the partnerships ZASH has in place and has planned,” said Yang, “we’re a natural fit. As an emerging player in user generated video creation, we are excited to be part of ZASH’s overall content and distribution plans and strategies and are looking forward to accelerating growth and adoption of Lomotif worldwide.”

“Lomotif is the key piece of the ZASH strategy to merge the best-in-class media, entertainment and content-focused technology companies globally,” said Ted Farnsworth. “The platform is fun and engaging and its features are unique and innovative. We look forward to expanding the platform in the US market and around the rest of the world.”

“Having had experience building another video-sharing social networking platform, it became quickly apparent that Lomotif’s patented technology for mixing and video editing is second to none.” said Vince Butta. “ZASH will focus Lomotif on an advertising model going forward, as well as other means of monetization over the next several months.”

“Lomotif is a global platform with tremendous following in Latin America and Asia and together with ZASH it will replicate that success in the US and other markets,” said Jaeson Ma. “In today’s world of mass consumption of short-form content, we see Lomotif’s addition to the ZASH family as an incredible opportunity to leverage our content in all formats and broaden our distribution platform worldwide.”

Investment bank BTIG represented ZASH on the buy side of the transaction. Palladium Capital served as advisor on the capital raise to fund the transaction. The media and entertainment team led by Tom K. Ara and including Patrick Anding at law firm DLA Piper LLP negotiated and advised ZASH on the Lomotif deal and are also advising ZASH in its merger with Vinco. Cooley LLP represented Lomotif in the transaction.

For more information about ZASH’s proposed merger with Vinco, please see the press release (https://investors.vincoventures.com/press-releases/detail/78/musical-ly-tiktok-triller-and-moviepass-innovators-unite) and Vinco’s 8-K filed on January 19, 2021 (https://sec.report/Document/0001493152-21-001470/).

About ZASH Global Media and Entertainment Corporation

ZASH Global Media and Entertainment Corporation is an evolving network of synergetic companies working together to disrupt the media and entertainment industry as we know it today. The ZASH team is managed by a group of smart, if not somewhat brazen, consummate disrupters. ZASH believes its management team has an exceptional and unparalleled ability to pivot because their knowledge and experience is steadfast and unyielding. For additional information about ZASH Global Media and Entertainment Corporation, please visit ZASH’s website at www.zash.global.

A bout Lomotif

Lomotif is the leading video-sharing social networking platform that is democratizing video creation. Since the company was co-founded by video enthusiast Paul Yang in 2014, Lomotif has been granted three technology patents uniquely focused on empowering creators to share and watch short videos with ease through remix and collaboration. Paul’s bold vision is to build the world’s largest video vocabulary to accelerate the world’s transition to video-first expression. Lomotif, available in the Apple and Google stores, is a breakthrough downloadable app for hip hop, rap, and urban culture across the United States and Latin America. Lomotif is one of five partners selected by Snapchat for a bi-directional integration for posting stories between the two platforms.

About Vinco Ventures, Inc.

Vinco Ventures, Inc. (NASDAQ: BBIG) is a mergers and acquisition company focused on digital commerce and consumer brands. Vinco’s B.I.G. (Buy. Innovate. Grow.) strategy will seek out acquisition opportunities that are poised for scale and grow said acquisitions through targeted traffic and content campaigns. For more information, please view Vinco’s investor presentation or visit Investors.vincoventures.com.

Forward-Looking Statements and Disclaimers

This press release contains “forward-looking” statements within the meaning of federal securities laws. Forward-looking statements include, among others, statements concerning or implying future financial performance, anticipated product performance and functionality of ZASH’s products or products incorporating ZASH’s products, and industry trends and growth opportunities affecting ZASH. Such information are based upon beliefs of, and information currently available to, ZASH management as well as estimates and assumptions made by ZASH’s management. These statements can be identified by the fact that they do not relate strictly to historic or current facts. When used in this presentation the words “estimate,” “expect,” intend,” believe,” plan,” “anticipate,” “projected” and other words or the negative of these terms and similar expressions as they relate to ZASH or ZASH’s management identify forward-looking statements. These forward-looking statements include statements regarding the potential business synergies resulting from ZASH’s acquisition of Lomotif and ZASH’s proposed merger with Vinco, the potential market for ZASH’s and Lomotif’s product offerings, customer adoption and use of the Lomotif platform, and the ability of ZASH to monetize product offerings, including the Lomotif platform. Such statements and the other forward-looking statements in this press release reflect the current view of ZASH with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to ZASH and Lomotif’s industries, operations and results of operations and any businesses that may be acquired by ZASH. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although ZASH believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, performance, or achievements. All forward-looking statements are qualified in their entirety by this cautionary statement. ZASH is providing this information as of the date of this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events, or otherwise.

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Responding to International Mother Language Day, Taiwan builds an environment friendly to indigenous languages

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TAIPEI, TAIWAN – Media OutReach – 23 February 2021 – In response to UN’s call for the preservation of mother languages, International Mother Language Day — Indigenous Language Revitalization Award Ceremony and Forum on Taiwan Indigenous Language Development was held in Taiwan on February 20 and 21. Indigenous languages and official languages were used together throughout the events, including Indigenous Language Revitalization Award Ceremony and a keynote speech on the Historical Truth of Indigenous Language Loss and National Language Revitalization Strategy.

President Tsai Ing-wen presenting Indigenous Language Children Award to the 5-year-old recipient, LregeaiRukai

Delegates from 14 countries including the Republic of Palau, and heads of local governments and NGOs were invited, reaching an attendance of 300 people. President Tsai Ing-wen and Premier Su Tseng-chang of the Executive Yuan presented a total of 12 awards to accredited individuals, groups and organizations for indigenous language revitalization. Among which, the recipient of the Indigenous Language Children Award, Lregeai, is a five-year-old with Rukai person, who has already won many awards in relation to indigenous languages. Kating Mulas, the recipient of the Indigenous Language Teacher Award is fluent in both Bunun, her mother language, and Pangcah/Amis, the language she teaches, and is extremely gifted in language learning.

Minister Icyang ‧ Parod of the Council of Indigenous Peoples delivered his remark entirely in Pangcah/Amis. Delegates attending the meeting on behalf of various organizations used a total of 10 different languages, including Truku, Drekay, Thakongadavane, Bunun, Kanakanavu, Pangcah/Amis, Atayal, Kavalan, Pinuyuanan, and Chinese. Simultaneous interpreting service for various indigenous languages was provided as per international conferences, showcasing indigenous languages for the nation to become acquainted with, so that together we can create an environment friendly to indigenous languages.

Enacted in 2016, the Indigenous Languages Development Act set in motion various measures for language revitalization, leading to the quintuple of budget with even more manpower invested towards language revitalization. With the government coordinating indigenous language promotion organizations, manpower and resources, we hope to effectively revitalize indigenous languages and cultures through such consensus meetings.

Minister Icyang ‧ Parod pointed out that without indigenous languages, there will be no indigenous rituals and ceremonies; without indigenous languages, indigenous cultures will cease to be passed on. As the origin of the Austronesian, linguistic diversity is Taiwan’s gift to the world in its most beautiful form. The two-day event sees consensus reached amongst indigenous language development organization and professionals, together we continue to promote the research, preservation, promotion and passing on of indigenous languages, and give voice to the beautiful Austronesian languages in Taiwan.

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LESSO, China’s Leading Plastic Piping Brand Expands its Market to Southeast Asia

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SAMARANG, INDONESIA – Media OutReach – 24 February 2021 – LESSO, China’s leading brand in plastic piping industry, has set foot in Southeast Asia market for further business expansion.

On Nov. 7th, 2020, a crane lifted the first steel beam at the construction site of Lesso’s new plant in Samarang, Indonesia, officially commencing its business expansion in Southeast Asia.

China Lesso Group Holdings Limited (https://en.lesso.com/), founded in 1986, has been a leader in the pipeline industry and is gradually developing into a large industrial group of home furnishings and building materials in China. China Lesso’s product portfolio spans piping systems, building materials, interior decoration products, environmental protection services, modern agriculture, channels and services, and more. With its rapid development, China Lesso has established over a hundred of subsidiaries and 27 manufacturing bases in 18 provinces across China, and in North America. Learn more about Lesso from this video: https://youtu.be/xSYG2AFP_fM

Lesso continues to perfect its techniques in automated and smart production, constantly improving its production capacity and efficiency, and product quality. The Company is a front runner in the industry in terms of production capacity and sales volume. It produces about 15% of the overall plastic pipe output in China and has surpassed its competitors a couple of times. According to a survey conducted by Forward Industry Research Institute, a professional industry planning consultant based in Beijing, China Lesso has been able to realize up to 2.78 million tons of design capacity since 2019 and achieved 2.397 million tons of sales in the same year.

In 2020, China Lesso is nominated by Hurun Research Institute on the list of Hurun China 500 Most Valuable Private Companies 2020 as its market value has reached a new record high of RMB37 billion with a year-on-year growth of 61%. Moreover, it’s been on the Fortune 500 China list for 8 consecutive years since 2013 and the Company stock is considered among those of the biggest value.

The Growing Demand for Plastic Pipeline in Southeast Asia

The global demand for plastic pipe which is expected to grow in the coming five years has notably driven the market. The global market for plastic pipes is projected to reach 20.4 billion meters by 2024 according to a report by researchandmarkets.com. The report also pointed out that Asia-Pacific, especially the Southeast Asia region has become the largest and most fast-growing market worldwide.

Southeast Asia is now shifting fast from an agricultural economy to an industrial economy. Thus, its demand for plastic pipes has significantly grown due to the increased spending on infrastructure modernization projects, such as replacement of metal based pipes with plastic pipes in utility networks, expanding crop irrigation activities, rehabilitation of wastewater collection and water distribution, growing preference for no-dig technology, and etc.

LESSO Sees Potential in Southeast Asian Market

With an aim of business expansion, China Lesso has seen the potential in Southeast Asian market and has accelerated to globalize its business. It has announced a substantial investment in establishing a large-scale pipeline manufacturing base in Indonesia to seize market share by participating in the country’s infrastructure advancement projects and enhance Lesso’s competitiveness and influence in the local market.

Indonesia has been claimed to be the largest economy in Southeast Asia and has growth perspective by many authorities like the World Bank. With the continuous and rapid development, Indonesia’s domestic demand for infrastructure improvement has increased significantly. Pipes and pipe fittings which are common and essential construction materials, do have great opportunities during infrastructure construction in Indonesia.

Lesso’s Indonesia manufacturing base will be able to supply plastic piping products and services for the domestic market in a timely and productive manner as it specializes in a variety of advanced plastic piping solutions fitting for building construction, infrastructure, industrial and agricultural applications. Lesso’s products are widely used in water supply, drainage, power supply, telecommunication, gas transmission, home decoration, and so on.

China Lesso’s endeavor in Indonesia is an important deployment in its global business expansion. Following the Belt and Road Initiative, Lesso will strive to develop markets in more targeted countries in Asia, for example in Malaysia, Thailand, and Cambodia, adding momentum to its strategic business presence in the world.

Contact us:

China Lesso Group Holdings Limited

E-mail: [email protected]

Website: https://en.lesso.com

Address: Liansu Industrial Estate, Longjiang Town, Shunde District, Foshan City, Guangdong Province, China

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