TIME Interconnect Technology Limited Announces Final Results For The Nine Months Ended 31 December 2023

HONG KONG, Apr 26, 2024 – (ACN Newswire) – TIME Interconnect Technology Limited (“TIME Interconnect”, Stock Code: 1729.HK, with its subsidiaries collectively referred to as the “Group”) is pleased to announce its final results for the nine months ended 31 December 2023 (the “Review Period”).

During the Review Period, the global economy has recovered from the COVID-19 epidemic and the Russia-Ukraine war, but the pace has been slower than expected. The divergences between countries have continued to increase. Meanwhile, China’s economic recovery was also slower than expected, partly due to high borrowing problems in the real estate industry. Despite these challenges and difficulties posed by the macroeconomic environment, 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. For example, last year, the Group expanded its business to server business with go-to-market strategy and JDM/ODM business model. In addition to contributing a substantial increase in revenue, the server business also contributed a significant increase in profits this year by adjusting its customer/product portfolio and selling price structure to improve profitability.

For the Review Period, the Group recorded revenue amounting to HK$4,826.3 million, represented a decrease of HK$938.5 million or 16.3% as compared with HK$5,764.8 million for the Previous Year. Operating profit for the Review Period was HK$433.4 million, represented an increase of HK$118.1 million or 37.5%, as compared with HK$315.3 million for the Previous Year, with the operating profit margin raised from 5.5% to 9.0% for the Review Period. The increase of operating profit was mainly attributable to the profitability improvement of server business. Net profit of the Review Period was HK$277.6 million, represented an increase of HK$61.7 million or 28.6%, as compared with HK$215.9 million for the Previous Year, with the net profit margin raised from 3.7% to 5.8% for the Review Period*.

Basic earnings per share for the Review Period was HK14.2 cents as compared to the basic earnings per share of HK11.1 cents in the Previous Year.

Business Review

The Group’s turnover by market sector is as follows:

Market Sector

Turnover (HK$ million)

Share of Turnover

Nine months ended 31 December 2023

Year ended 31 March 2023


Nine months ended 31 December 2023

Year ended 31 March 2023

Cable assembly

  Data centre












  Medical equipment






  Industrial equipment












Digital cable

   Networking cable






   Specialty cable


















Data centre sector

The revenue of data centre sector increased by HK$0.1 million to HK$791.0 million for the Review Period as compared to HK$790.9 million for the Previous Year. Orders from this sector maintained at a high shipment level during the Review Period, and remained the highest revenue sector in the cable assembly business.

Telecommunication sector

It recorded a decrease of revenue from HK$644.0 million for the Previous Year to HK$555.4 million for the Review Period, represented a decrease of HK$88.6 million or 13.8%. The order volume was stable, new models are constantly being introduced and the profit margin was improved as these new products carry a better margin.

Medical equipment sector

The revenue of medical equipment sector for the Review Period was HK$258.0 million, represented an increase of HK$12.4 million or 5.0% as compared with HK$245.6 million for the Previous Year. Although the COVID-19 epidemic has gradually alleviated, there is still a risk of the virus mutating, and may be a rebound phenomenon. Meanwhile, people have paid more attention to health, the Group believe that the demand for medical equipment will continue to increase and high demand in medical equipment cables orders will been maintained.

Industrial equipment sector

Under the influence of macroeconomic factors like the slower-than-expected economy recovery and the divergences between countries have continued to increase, global economic activities have been suppressed to a certain extent. The revenue of industrial equipment sector decreased by HK$23.0 million or 48.5% from HK$47.4 million for the Previous Year to HK$24.4 million for the Review Period.

Automotive sector

Affected by geopolitics and trading war, the sales orders of automotive wire harness products decreased during the Review Period. The revenue of automotive sector was HK$100.4 million for the Review Period, which compared with the revenue for the Previous Year of HK$162.0 million, represented a decrease of HK$61.6 million or 38.0%. But the Group still believes that the automotive wiring products can help the Group to provide its customers with a broader product portfolio, and to step into a new business sector by enriching the Group’s business portfolio and broadening its unique customer base, which can capture opportunities brought by the booming electric vehicle market.

Networking cable sector

During the Review Period, the global macroeconomic environment is still under pressure, causing severe damage to overseas orders for networking cable business. The revenue of networking cable for the Review Period was HK$788.7 million, represented a decrease of HK$466.0 million or 37.1% as compared with HK$1,254.7 million for the Previous Year.

Specialty cable sector

Specialty cable sector includes Industrial Communication Cables, Rail Transit Cables, HDBT Hi-Res Data Communication Cables and etc. For the Review Period, the revenue of specialty cable was HK$77.0 million, represented a decrease of HK$15.4 million or 16.7% as compared with HK$92.4 million for the Previous Year.

Server sector

For the Review Period, the revenue of server was HK$2,231.4 million, represented a decrease of HK$296.4 million or 11.7% as compared with HK$2,527.8 million for the Previous Year. Since the development of server business in last year, a large number of orders were accepted in the initial stage, and as the factory’s production capacity climbed, it created a sales peak. With the emergence of ChatGPT in 2023, the server industry also set off a craze for artificial intelligence servers. During the Review Period, the focus was on the development and delivery of new products with AIGC (Artificial Intelligence Generated Content), and the profitability was relatively improved


Looking ahead, the macroeconomic environment is full of challenges. The global recovery from the COVID-19 pandemic and Russia’s invasion of Ukraine remains slow and uneven. Economic activity still falls short of its prepandemic path, especially in emerging market and developing economies, and there are widening divergences among regions. Several forces are holding back the recovery. 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. During the Review Period, the Group has set up a new wholly-owned subsidiary, Linkz Cables Mexico, S. de R.L. de C.V., in Mexico to increase its market share in markets outside China and Asia. A new plant is under construction by Luxshare Group which is expected to be put into production in 2024. By then, the Group will set up the new factory and produce digital cables and automotive wire harness products, 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. In cloud computing, the computing storage network must be placed in the data centre, therefore, the growing cloud technology 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. The Group remains very positive on the continuous growth of the business of data centre sector. Currently, the products offered by the Group under this business are mainly applied in data centres, which includes rack-mounted computing servers, edge servers, AI smart servers, storage servers, smart network cards, GPU cards, complete cabinet products, etc. 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 future potential growth of server business. The Group believes the development of server business is a good opportunity for the Group to further develop its business and will help diversify the Group’s business as well as the Group’s income stream.

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 Interconnect Technology (Kunshan) Limited and Time Interconnect Technology (Jiangxi) Limited during the Review Period, to expand production capacity and R&D capabilities for medical equipment cables products, and production has been started in September 2023. Moving ahead, 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 to seize the opportunity arise from increasing demand in market.

Besides, considering the vigorous development of the automotive and electric vehicle markets, China has remained the world’s largest automotive market and automotive producer in the past few years. 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.

At the same time, after the acquisition by Luxshare Precision, the Group entered into a diversified business integration with Luxshare Group.  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 Group. Luxshare Precision will deploy the platform advantages and market position of the Luxshare Group and introduce strategic resources to the Group with intention to further strengthen the Group’s potential for continuous growth and core competitiveness in its market and to enable the Group to develop strategically to become an all-rounded network solutions and infrastructure provider, so as to create greater value for the shareholders. In the future, with the support of Luxshare Precision, the Group will create more and more possibilities.

About TIME Interconnect Technology Limited

TIME 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, Huizhou, Jiangxi, the People’s Republic of China (“PRC”) and Mexico.  The Group currently manufactures and supplies a wide variety of copper & optical fiber cable assemblies, digital cable 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 and digital cables.

This press release is disseminated by Bright Communications International Limited on behalf of TIME Interconnect Technology Limited.

For further enquiries, please contact Bright Communications International Limited:

Topic: Press release summary

Graid Technology Announces Software Update, Delivers Enhanced Levels of Data Integrity and Business Continuity

SANTA CLARA, CA, Apr 23, 2024 – (ACN Newswire) – Graid Technology, the award-winning data protection provider and developer of the only RAID card to offer customers access to the full performance of NVMe SSDs, is proud to announce its new software release, SupremeRAID™ v1.6. This new feature set addresses critical data integrity issues associated with double failures in RAID configurations.

Announcing SupremeRAID™ Software Release v1.6Announcing SupremeRAID™ Software Release v1.6
New double failure protection provides maximum RAID stability with minimal impact on overall system performance.

A double failure occurs when a RAID system experiences a power outage or an unclean shutdown during the rebuilding of data from a previous disk failure. Traditionally, RAID systems utilize a persistent journal to log every I/O transaction and its corresponding parity. This method ensures that in-progress I/O operations and their parities can be recovered. The use of a single device to store this persistent journal has become a significant single point of failure and a bottleneck in modern NVMe SSD RAID configurations. Until now, this challenge has remained unaddressed in the market. With SupremeRAID™ v1.6, the distributed journal feature is designed to eliminate this single point of failure and significantly improve performance bottlenecks by distributing data and parity across all disks in a RAID group and redundantly journaling to provide maximum RAID stability with minimal impact on overall system performance.

“With data and parity already distributed across every disk in a RAID group,” said Leander Yu, CEO of Graid Technology, “our new distributed journal feature is the perfect design to ensure maximum data integrity while maintaining high performance levels.”

Graid Technology is excited to announce that it will commence the distribution of the SupremeRAID™ v1.6 beta version to its OEM customers and key global accounts in early May. The public release of SupremeRAID™ v1.6 is scheduled for late June. This new version will simultaneously be available for all Graid Technology products.

Graid Technology is headquartered in Silicon Valley, California, with an R&D center in Taipei, Taiwan. Winners of the esteemed Tech Trailblazers Storage Award for 2023 and the 2023 Golden Award at the Asia Pacific ICT Alliance, SupremeRAID™ performance is breaking world records as the first NVMe and NVMeoF RAID card to unlock the full potential of your SSD performance: a single SupremeRAID™ card delivers 28 million IOPS and 260GB/s of throughput. For more information on Graid Technology, visit www.graidtech.com or connect with us on Twitter or LinkedIn.

Contact Information
Andrea Eaken
Director of Marketing, Americas & EMEA | Graid Technology

Related Files
April 2024 SupremeRAID Brochures and Specs
Unleash the Performance of PCIe Gen 5 with Supermicro SupremeRAID KIOXIA_white paper

SOURCE: Graid Technology, Inc.


View the original press release on newswire.com.

Topic: Press release summary

Manufacturers Resource Center Automation & Manufacturing Technology Show Talk with Technology Experts. See Solutions in Action.

 The Manufacturers Resource Center (MRC) will host an Automation & Manufacturing Technology (AMT) Show on April 25, 2024, from 7:30 AM to noon, at the Delta Hotel by Marriott, Breinigsville, PA. After networking and breakfast, there will be speakers and presentations from 8:30 to 9:45 AM. Between 9:45 AM and noon, there will be floor demonstrations and the opportunity to speak with vendors. For more details and the current list of 23 vendors & technologies, visit the MRC website at www.mrcpa.org/events. Discover the future of manufacturing at our Automation & Manufacturing Technology Show where proven technology will be on display.

Vendors and Floor Demonstrations Include: Machine Vision, Cyber Security, Industrial Networks, Business Software Solutions, Augmented Reality, Data Collection and Analysis

“The future of manufacturing is automation and more efficient, high-tech, and innovative operational processes,” says Rich Hobbs, President & CEO of MRC. “This event is about taking business operations to the next level by using automation to support continuous improvement while attracting talent and using automation as a tool to capture the knowledge of the retiring workforce.”

MRC encourages entire business teams to explore and discover technologies that can help them solve difficult challenges. In addition to building relationships and connecting with other manufacturers, this event will allow manufacturers to explore industrial innovation and experience live technology demonstrations that solve problems.

Registration is on the MRC website and is needed to save seating. The fee is $50/person or $300 for a table of eight. (Meals & Beverages included) Seating for walk-ins cannot be guaranteed.

About Manufacturers Resource Center (MRC)
The mission of MRC is dedicated to serving manufacturers to enhance their productivity and technological advancements. MRC is part of the NIST MEP Network of national Centers in all fifty states and Puerto Rico. MRC is also a member of the Manufacturing PA Initiative which includes seven IRCs (Industrial Resource Centers) across the Commonwealth that are dedicated to serving the needs of small and medium manufacturers throughout Pennsylvania. NIST MEP Centers like MRC are a hub for manufacturers to connect with government agencies, trade associations, universities and research laboratories, state and federal initiatives, and a host of other resources to help them grow and innovate. For more information about MRC, visit https://www.mrcpa.org.

Manufacturers Resource Center
Patricia Felise



  • Data Management
  • Industrial Technology
  • Manufacturing
  • Robotics
  • Software
  • Technology
  • Trade Shows & Events

Graid Technology Launches Revolutionary GPU-Based RAID Solution, SupremeRAID(TM) SR-1001, Redefining NVMe Performance for Towers and Edge Computing

Graid Technology, an industry trailblazer in GPU-based RAID for NVMe, proudly announces the groundbreaking release of SupremeRAID(TM) SR-1001. This innovative GPU-based RAID solution is designed to maximize NVMe SSD performance while eliminating CPU cycle consumption and avoiding throughput bottlenecks. Utilizing patented out-of-path RAID protection technology, data travels directly from the CPU to the NVMe SSDs, ensuring unmatched flexibility, unprecedented performance, and overall superior value.

NVMe SSDs, with their high-speed performance and low latency, significantly enhance tasks across CAD, video editing, IoT, and gaming. Faster loading times, improved rendering, quick file transfers, smooth playback, efficient data processing, and reduced latency contribute to overall superior performance. But traditional RAID methods introduce bottlenecks, limiting the performance of NVMe SSDs in critical applications.

GPU-based SupremeRAID(TM) SR-1001 supports up to 8 NVMe SSDs and delivers superior performance and flexibility for towers and edge servers, professional workstations, and gaming desktops. SupremeRAID(TM) SR-1001 is the perfect storage choice for engineers, videographers, telcos, CSPs, and MSPs. Its powerful performance capabilities are well-suited for applications such as CAD, video editing, IoT, and gaming.

“As NVMe SSDs play a crucial role in cloud, core, and edge infrastructure, the demand for enhanced data protection without compromising performance is evident,” said Leander Yu, President and CEO of Graid Technology. “SupremeRAID(TM) SR-1001 addresses this need by delivering best-in-class performance and airtight data protection while optimizing throughput, parallelism, and latency, ensuring seamless performance at the edge. We are excited to add the SR-1001 to the SupremeRAID(TM) suite of products.”

Graid Technology continues to lead the industry with innovative storage solutions, ensuring optimal NVMe SSD performance and superior data protection across diverse applications. The SupremeRAID(TM) SR-1001 is available immediately through all Graid Technology resale partners and distributors worldwide. To learn more, visit https://www.graidtech.com/product/sr-1001.

Graid Technology, Protecting NVMe-based Data from The Desktop To The Cloud With A Full Suite of Products:

SupremeRAID(TM) SR-1001: PCIe Gen 3 card supporting up to 8 SSDs, designed for 1U tower and edge servers, professional workstations, and gaming desktops.

SupremeRAID(TM) SR-1000: PCIe Gen 3 card supporting up to 32 SSDs, catering to 1U cloud and enterprise servers.

SupremeRAID(TM) SR-1010: PCIe Gen 4 card supporting up to 32 SSDs, ideal for 2U cloud and enterprise servers

About Graid Technology

Graid Technology, led by a dedicated team of experts with decades of experience in the SDS, ASIC, and storage industries, continues to push boundaries in data storage innovation with our full suite of SupremeRAID(TM) products, leveraging GPU acceleration to maximize enterprise SSD performance. The company’s headquarters in Silicon Valley, supported by an R&D center in Taiwan, symbolizes our global commitment to pioneering advancements in storage solutions. Visit our website or connect with us on Twitter or LinkedIn.

Contact Information:
Andrea Eaken
Director of Marketing, Americas & EMEA | Graid Technology

Related Files
2024 SupremeRAID SR-1001 Brochure Specs.pdf

It’s 2024. Can Technology Drive a New Nigerian Economy?

LAGOS, NG, Jan 1, 2024 – (ACN Newswire)Some 20+ years ago, in what keen observers have described as a “leapfrog” and as “the telecom revolution”, Nigeria leapfrogged from 400 thousand landlines to 80 million mobile lines in months. It remains the largest singular developmental stride Nigeria has taken in its 63 years of existence. Structured mass adoption of new technology enabled Nigeria to circumvent normal step-by-step processes to arrive at its destination ahead of time, and ahead of others who were there before them in the Telecom Industry.

Nigeria's Minister of innovation, Science & Technology

Deploying similar strategies, Nigeria can achieve similar outcomes in Clean Energy and Power, and in different areas of Technology. Take  Artificial Intelligence (AI). McKinsey estimates that by the year 2030, the global AI economy will be at $16 trillion annually. (That’s larger than the entire American economy!)

So what will it take for Nigeria to stamp the AI revolution like we did in the Telecoms revolution? 

I put this question to Ray Sharma a few weeks ago over dinner in an artsy and eclectic restaurant in London’s Tech City or Silicon Roundabout. Ray is one of earth’s most aggressive Technology Venture Capitalists with successes that include Expedia and Tinder. Ray agreed with me that primarily, it will take human resource. 

Human resource is Nigeria’s abundant blessing. After India and China, Nigeria has the highest number of skilled Tech workforce in the diaspora. That’s an army waiting to be unleashed on the innovative gateway.

What about the in-country population?  A whopping 160 million youth – below the age of 35. The vast majority of whom are smart, hungry, innovative, and trainable. Such a resource wealth can catapult any nation on earth when intention and strategy align. Recruit them and funnel them into Frontier Technologies. AI. Blockchain. Robotics. IoT, and the like.

Should Nigeria unleash her potential upon the AI space, with a modest ambition to capture 0.1% of the value of that emerging industry, in just 5 years, she would have created a $16 billion a year industry. And from just AI! Add  Blockchain Technology, Fintech, IoT, Robotics, Clean Tech, Methanol and Hydrogen Production, etc, then you begin to envisage a horizon of endless possibilities.

What’s my point?

With her huge, young, smart, innovative and teachable workforce, plus a seemingly insatiable global tech market, Nigeria could create the kind of alternative national wealth and economy that will dwarf her entire budget and present economy.

Technology enables us to leapfrog, to deliver a Technology revolution, and create a new Nigeria with our international partners. 

EdenBase (with Domineum) is partnering with us to create Tech Ecosystems like it did with London Tech City and in Switzerland. We are building out manufacturing capacity for Methanol and EV lithium-ion batteries. These will lay the foundation for our proposed AI-driven Renewable Smart Mini Grids to power our Innovation Parks and Tech Cities plus trigger massive manufacturing (Additive and Green) in partnership with Germany’s IMAPS Institute for Material Applications. We are building out the BPO (and other outsourcing) industry and will partner to prepare millions of Nigerian youth for careers in diverse technology-driven spaces ranging from the soft (data, AI, blockchain, etc) to the hard (hardware skills, welding, digital production, etc). We have partnered to develop and launch the world’s first mass V2X project where we manufacture/assemble Electric Vehicles (EV), powered by Renewable Energy (RE) with bi-directional charging/discharging capabilities that enables your EV to act as a generator that powers homes or factories after performing its ‘car duties’ of ferrying you around. Now that’s what a leapfrog looks like.

Clean energy and Intelligent RE Minigrids – powering and driving manufacturing. Productive Tech ecosystems – partnering world class institutions to trigger innovative startups on scale. These will drive the unleashing of the creativity of Nigeria’s enormous, smart, innovative and youthful population. They, in turn will drive the emergence of the new Nigerian economy, independent of fossil fuels, and constructed on the altar of Innovation, Science & Technology.

In 2024, Nigeria is truly open for business – the Business of Technology, Clean Technology. Those who missed the opportunities unearthed by Nigeria’s telecom revolution some two-decades ago, now have the opportunity to get on board this boundless Tech Revolution in the largest untapped single market on planet earth.  

Is it possible to deliver these and more on scale? Can Nigeria leapfrog her way to near the front of the line in clean energy and power generation, green manufacturing and outsourcing?

You bet!

And in Nigeria’s Ministry of Innovation, Science and Technology, Minister Uche Nnaji is betting on it too.

Emeka Orjih, MBA (Wharton), Technical Adviser on International Cooperation & Finance to the Minister of Innovation, Science and Technology, Nigeria. emeka.orjih@scienceandtech.gov.ng

The Federal Ministry of Innovation, Science and Technology, Nigeria is one of the strategic Ministries of Government with the responsibility of facilitating the development and deployment of Innovative Science and Technology to enhance the pace of Socio-economic development of the country. www.scienceandtech.gov.ng

Topic: Research / Industry Report