Weilong Delicious Global Holdings Ltd (“Weilong” or the “Company”) (Hong Kong stock code: 9985.HK) announced its unaudited interim results for the six months ended 30 June 2023 (the “Reporting Period”).
As the impact of the Covid-19 gradually wanes, the consumption scenarios are constantly improving, and the consumption conditions are constantly getting better. China’s economy is steadily recovering and returning to normal operations. As a leader and pioneer in the spicy snack food industry in China, Weilong is not only dedicated to enhance research and development (“R&D”) capabilities, intensively cultivate existing product categories and expand product portfolio but also actively explored the snacks specialty retailer channel, expanded the nationwide sales and distribution network and deepening development of online channels, through youth-oriented brand marketing to enhance interaction with young consumers and establish closer connection with consumers.
Weilong’s performance was solid during the Reporting Period, recording a revenue of RMB2,327.3 million, representing a year-on-year (YoY) increase of 3.0%, primarily due to (i) the Group making structure adjustments to its main products and upgrading its operations in the Previous Year, initial results in the Reporting Period have been achieved due to these adjustments and upgrades; (ii) a drop in the consumer flow of offline traditional channels and channels of hypermarkets and supermarkets during the Reporting Period and (iii) an increase in the average selling price resulted from the Group’s structural adjustment of main products in the Previous Year, which was partially offset by a decrease in the sales volume of the products. Gross profit increased by 28.4% YoY to RMB1,106.2 million and gross profit margin improved to 47.5% from 38.1% in the same period last year, mainly due to (i) an increase in the average selling price resulted from the Group’s structural adjustment of main products in the Previous Year; (ii) a decrease in the price of raw materials during the Reporting Period; and (iii) the optimization of the Group’s cost management by streamlining production process continuously. Net profit of RMB447.1 million was up 271.4% YoY. Adjusted net profit increased by 17.0% YoY to RMB497.0 million and adjusted net profit margin improved to 21.4% from 18.8% in the same period last year mainly due to the increase in gross profit.
Based on the Group’s surplus and overall financial conditions, the Board has resolved to the distribution of an interim dividend of RMB0.12 (tax inclusive) per share, representing approximately 60% of the net profit of the Group for the Reporting Period. The dividend is expected to be paid on or about October 12, 2023.
During the Reporting Period, on the product side, the Group adhered to the strategy of “multiple categories and large single product”, continued to expand our product portfolio through years of research and development and innovation to respond to changing market conditions and consumer preferences quickly.
In terms of channel, Weilong continued to strengthen the offline sales strategy of “sales support and sales assistance” to further enhance the coverage and the execution quality of POS. With the quick rise of the new channel of snacks specialty retailers across China, the Group actively launched customized products targeting this new channel of snacks specialty retailing in the hope of seizing the development opportunities brought by such new channel more effectively.
On the branding front, the Group continuously strengthens brand building through brand activities centering around young consumers and conducts consumer research and interaction to actively explore improvements of brand awareness and reputation, combined with in-depth online content marketing to enhance user engagement, so as to provide consumers with better product experience.
Mr. Liu Weiping, Chairman of the Board of WEILONG, commented, “In the face of the diversified changes in the sales channels of China’s snack food industry, new channels such as snacks specialty retailers and content e-commerce platforms are continuing to increase in traffic. Weilong will actively embrace the development opportunities brought by new channels with a more proactive and open mindset. At the same time, the Group will continuously strengthen product building and brand building, refine and improve the Group’s product portfolio and the Group’s brand awareness and reputation. The Group will continue to consolidate its manufacturing capabilities and R&D capabilities, enhance organizational capabilities and the construction of digital intelligence to improve its overall operational efficiency and consumer experience. Finally, the Group will stay true to its original aspiration and mission, striving to maximize returns for consumers, clients, shareholders, investors, employees and the society.”
About Weilong Delicious Global Holdings Ltd
WEILONG Delicious Global Holdings Limited (“WEILONG”) is an all-in-one spicy snack products enterprise, leading in the research and development, production, processing, and sales of spicy snack foods in China. With strong growth momentum and a highly influential brand, WEILONG has been committed to transforming the traditional food into a more entertaining, casual, and convenient format that is also affordable. Since pioneering the first spicy snack in 2001 and leading the construction of industry standards to this day. Our goal is to create delicious casual food and enjoyable consumer experiences for our customers. With its outstanding “multiple categories and large single product” strategy and category expansion capabilities, WEILONG has successfully expanded into categories such as vegetable products, bean products, and other products, launching single products such as “Konjac Shuang”, “Fengchi Kelp”, and “78 Degree Celsius Braised Eggs”. WEILONG is a popular snack food brand among young Chinese consumers and has won several marketing awards. In 2023, WEILONG won the “Top Digital Innovation Marketing Award – Content E-commerce Special Award” and “The 14th Tiger Roar Awards – Social Media Marketing (Bronze)”. For more information, please visit https://www.weilongshipin.com/
Topic: Press release summary
The 7th annual Intelligence Exploitation Summit will bring together senior leaders and decision makers from across the Intelligence Community, Military Services, Federal Agencies, Academia, and Industry for two days of critical discussions focused on current IC strategies and initiatives for the advancement of rapid analysis and exploitation of intelligence data to support critical mission objectives.
The Summit will explore initiatives to modernize IC IT systems, deliver cloud-based solutions, enhance cybersecurity, enable interconnected, secure intelligence sharing, foster collaboration among IC partners, and sustain mission-critical enterprise services.
Topics of Discussion Will Include:
– Leading the intelligence community through transformation, modernization, & collaboration
– Driving innovation & advancing digital transformation across the CIA
· Enhancing intelligence driven decision-making to support FBI mission objectives
· Achieving a cost-effective, operational, & secure DoD information enterprise
· Developing & sustaining mission-critical enterprise services & cloud based solutions to support the DoD workforce
· and more
Early Confirmed Speakers Include
– Juliane Gallina, Associate Deputy Director for Digital Innovation, CIA
– Lily Zeleke, SES, Deputy CIO, Information Enterprise, Office of the DoD CIO
– Winston Beauchamp, SES, Deputy CIO, Department of the Air Force
– Tonya Ugoretz, Assistant Director of Intelligence, FBI
– Dr. Bryan Pendleton, Chief Data Officer, Office of Intelligence & Analysis, DHS
– Johanna Leasiolagi, Senior Technical Advisor, DIA
– Event Moderator: Lynn Schnurr, Executive Consultant, GDIT, Former Army Intelligence CIO
Please visit https://multi-int.dsigroup.org/ for more information. Sponsor and exhibit opportunities are now available. Active Military and Government Employees attend free.
About Us: Defense Strategies Institute (DSI) was created to form a non-partisan, relevant, sustainable, and ethical organization operating primarily within the Department of Defense and Federal Government sectors. Our Founding Partners created DSI with the vision of using their expertise in political/military affairs, government relations and military operations to help advance mission critical success through necessary dialogue and debates amongst the respective offices and industry while at the same time helping to support those that deserve it most: our Nation’s Veteran & Injured Service Members.
U.S. Polo Assn., the official brand of the United States Polo Association (USPA), is pleased to announce the brand’s nomination as a finalist for the prestigious 2023 Licensing International Excellence Awards for Best Sports Licensed Brand. The Licensing International Excellence Awards honor the way brands use licensing in innovative and creative methods to further their goals, products, and marketing around the globe.
Winners in 30 categories were selected by an expert global judging panel and voted on by members of the licensing industry at large from more than 200 finalists around the world. With more than 850 entries received, U.S. Polo Assn. was among notable brands, such as Formula 1, Head, The NFL Players Association (NFLPA), Starting Lineup, Ultimate Fighting Championship (UFC), and Yale University. Ultimately, the NFLPA was recognized as the finalist in the category for Best Sports Licensed Brand.
The multi-billion-dollar U.S. Polo Assn. brand continued to enhance its authentic connection to the sport of polo in 2022 through outstanding storytelling, partnerships, sponsorships, and philanthropic endeavors. The Licensing International nomination acknowledged U.S. Polo Assn.’s growth and achievements, which include delivering a record $2.3 billion in global retail sales spanning 190 countries in over 1,100 retail stores, as well as department stores, sporting goods stores, and e-commerce.
“We are honored that U.S. Polo Assn. was nominated for the Best Sports Licensed Brand alongside other industry-leading organizations for the 2023 Licensing International Excellence Awards,” says J. Michael Prince, CEO & President of USPA Global Licensing, the company that oversees the multi-billion-dollar U.S. Polo Assn. brand. “Our global team alongside our licensing and retail partners work tirelessly to bring the spirit of the sport of polo to life in our brand around the world. Receiving this nomination is recognition for this global effort.”
Prince also wishes to congratulate The NFLPA for their performances this year and their win.
The brand also built on its successful digital strategies to generate record growth with some 50 brand sites in 20 languages and over 7 million social media followers in 2022. Moreover, U.S. Polo Assn. signed a global partnership with ESPN to air some of the top polo championships in the world, including the XII Federation of International Polo (FIP) World Polo Championship, the prestigious Westchester Cup, and the U.S. Open Polo Championship(R) for sports fans and consumers to enjoy.
This year’s Excellence Awards were held at The Luxor on June 12, 2023, in Las Vegas, Nevada, to celebrate the best of the global licensing industry. Attending the event this year on behalf of U.S. Polo Assn. was Chris Affolter, VP of Global Operations, and Jeff Nichols, Senior Director of Finance & Strategy.
About U.S. Polo Assn. and USPA Global Licensing Inc. (USPAGL)
U.S. Polo Assn. is the official brand of the United States Polo Association (USPA), the nonprofit governing body for the sport of polo in the United States and one of the oldest sports governing bodies, having been founded in 1890. With a multi-billion-dollar global footprint and worldwide distribution through over 1,100 U.S. Polo Assn. retail stores and thousands of department stores, sporting goods channels, independent retailers, and e-commerce, U.S. Polo Assn. offers apparel for men, women, and children, as well as accessories and footwear in more than 190 countries worldwide. U.S. Polo Assn. was named as one of the top five sports licensors in 2022 alongside the NFL, MLB, and NBA, according to License Global. Visit uspoloassnglobal.com and follow @uspoloassn.
USPA Global Licensing Inc. (USPAGL) is the for-profit subsidiary of the USPA and manages the global, multi-billion-dollar U.S. Polo Assn. brand, providing the sport with a long-term source of revenue. Through its subsidiary, Global Polo Entertainment (GPE), USPAGL also manages Global Polo TV, which provides sport and lifestyle content. A historic, multi-year, global arrangement between USPAGL and ESPN now showcases many of the top championship polo games in the U.S., enabling millions of sports fans and consumers to enjoy the sport across ESPN’s broadcast and streaming platforms. For more sport content, visit globalpolo.com.
Senior Director, Global Communications
PR & Communications Specialist
Topic: Press release summary
Motion2AI, the leading provider of vision-based AI forklift tracking and telematics software, is proud to announce their partnership with CSCMP as a major sponsor for EDGE 2023. Regarded as the premier conference for supply chain professionals, EDGE connects industry leaders and innovators through engaging networking and education sessions.
The event is scheduled to take place from October 1-4, 2023, at the Gaylord Palms Resort & Convention Center in Kissimmee, Florida.
Motion2AI is excited to showcase its AI forklift tracking and telematics platform. By harnessing the power of artificial intelligence, Motion2AI enables real-time tracking, monitoring, and optimization of forklift fleets, resulting in improved operational efficiency, enhanced safety, and increased productivity.
“We are delighted to be a major sponsor for CSCMP EDGE 2023,” said Scott Cubbler, CEO of Motion2AI. “This conference presents an invaluable opportunity for us to connect with industry leaders, exchange knowledge, and demonstrate the transformative potential of our vision-based AI forklift tracking and telematics software. We are dedicated to helping businesses optimize their supply chain operations and believe that our participation in CSCMP EDGE will contribute significantly to achieving this goal.”
CSCMP EDGE 2023 will feature a range of informative sessions, engaging workshops, and interactive exhibits, providing attendees with valuable knowledge and networking opportunities. With over 3,000 supply chain professionals expected to attend, CSCMP EDGE offers an unparalleled opportunity for sharing industry best practices, exploring emerging technologies, and forging strategic partnerships.
About Motion2AI: Motion2AI is an Artificial Intelligence (AI) software company that focuses on forklift tracking and telematics. Our solutions proactively prevent forklift accidents, reduce labor costs, improve fleet utilization, and help warehouse managers make data-driven decisions. To learn more, visit www.motion2ai.com.