HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Baguio Green Group Limited (‘‘Baguio’’ or the ‘‘Group’’, Stock Code: 01397.HK) is pleased to announce its unaudited interim results for the six months ended 30 June 2024 (the Period”).During the Period, the Group’s revenue amounted to approximately HK$1,291.1 million, representing an increase of approximately 16.6% as compared to the same period last year, mainly due to the continued increase in revenue in the cleaning segment together with the waste management and recycling segment. Profit for the Period amounted to approximately HK$25.8 million, representing an increase of approximately 18.5% as compared to the same period last year. The overall gross profit increased by approximately 12.4% to approximately HK$97.1 million.Business Overview and ProspectsIn the first half of 2024, new contracts awarded to the Group amounted to a total of HK$1.48 billion. As a result, the Group’s contracts on hand reached approximately HK$4.60 billion (as of 30 June 2024), representing an increase of approximately 3.8% from approximately HK$4.43 billion as of 31 December 2023, providing strong revenue growth in the second half of 2024 and subsequent years.The Group’s core business, cleaning services, recorded growth during the Period. Revenue from cleaning services increased by 20.1% to approximately HK$1,034.9 million, accounting for approximately 80.2% of the Group’s total revenue. Gross profit of the cleaning business increased by 7.6% to approximately HK$66.4 million, mainly due to the Group’s new cleaning service contracts with various HKSAR Government (the “Government”) departments and different institutions.The Group’s Government-related street cleaning services cover a total of seven districts, serving a population of approximately 2.8 million, marking Baguio’s leading position in the Hong Kong cleaning services market. The Group’s Government venue cleaning services for the Food and Environmental Hygiene Department cover seven districts in Hong Kong. In addition, the Group also provided Government market related cleaning services and leisure venues cleaning services, covering several districts in Hong Kong, as well as other cleaning sites such as hospitals, Government clinics, Hong Kong International Airport, schools, housing estates and private institutions, demonstrating that the Group’s professional services are widely recognised.Waste management and recycling business recorded growth in revenue during the Period which increased by approximately 7.4% to approximately HK$147.3 million, accounting for approximately 11.4% of the Group’s total revenue. Gross profit of the waste management and recycling business increased by approximately 60.7% to approximately HK$19.2 million, mainly due to the “Plastic Recycling Pilot Scheme” entered the harvest period and the related contracts with the Government increased the recycling spots and revenue. During the Period, the Group provided Government-related waste collection services to five districts, serving a population of approximately 1.6 million, and provided collection services for thousands of recycling spots (including plastic, glass bottles, metals, waste paper and food waste) across Hong Kong, and collection services for recycling bins in public places and schools. During the Period, the Group provided Baguio continued to provide plastic collection services for several districts under the Environment Protection Department (“EPD”) Plastic Recycling Pilot Scheme contract. Baguio also provides collection services for Recycling Stations of “GREEN@COMMUNITY”, introduced by the EPD and smart recycling machines, and other institutions in Hong Kong. In addition, the Group also provides the Government with glass bottles collection and management services and food waste collection services in several districts in Hong Kong.Regarding green technology business, the Group launched a smart recycling system through combination of a number of advanced smart digital technologies and Internet of Things technologies. Through a one-stop management and big data analytics platform, the Group can monitor the real-time situation of the recycling machines, and flexibly deploy transportation according to the amount of recyclables, reducing logistics costs and unnecessary carbon emissions. The Group currently provides smart recycling machines to the EPD and smart food waste recycling machines to private housing estates. At present, smart recycling machines and smart food waste recycling machines are now available in different places of Hong Kong, providing the public with a convenient recycling experience 24 hours a day, and helping to increase the overall recycling volume in Hong Kong. The Government is proactively offering financial aids for private housing estates to install food waste recycling machines through the Recycling Fund and the Environment and Conservation Fund. Under the expected market demand created by the strong advocacy of the Government, it is believed that the Group’s food waste recycling machines and related smart technology business will bring huge business opportunities. With the increasing market demand for smart recycling, the Group plans to seize the opportunity of smart city development, striving to expand the market share of smart recycling machines and smart food waste recycling machines.In addition, the Government is actively promoting the “Producer Responsibility Scheme on Plastic Beverage Containers and Beverage Cartons”, and plans to table the bill to the Legislative Council for scrutiny this year with a view to introducing it in 2025. Enshrining the principle of “Polluter Pays” and the vision of “Eco-responsibility”, the recycling rate of plastic beverage containers and beverage cartons is expected to have a significant increase. The scheme is expected to directly drive the growth of Baguio’s recycling business and create solid returns from our investment in recycling facilities which creates a strong entry barrier to the competition.In partnership with Jardine Engineering Corporation Limited, the Pilot Biochar Production Plant at the EcoPark in Tuen Mun was commenced trial operation during the Period. By converting yard waste into high-quality biochar with pyrolysis technology for various applications, the production plant effectively “turns waste into useful resources”.Hong Kong has made concerted effort to keep pace with international trends in the field of green and sustainable finance, accelerating its progress towards becoming an international green finance hub. To meet the needs of sustainable development, the Group has incorporated sustainability insights into its core businesses and operations and is committed to providing customers with one-stop and diversified green environmental services and sustainable procurement solutions. In the future, Baguio will invest more resources in personnel training and green procurement. Meanwhile, through the provision of waste audit services, the Group provides waste constituent data to help corporate customers understand the amount of generated waste that can be recycled and achieve sustainable development goals.As for the landscaping business, the Group provided landscaping services for the Kai Tak Sports Park, the Central and Western District Promenade and the Inclusive Park for Pets at Tsun Wen Road in Tuen Mun. In addition, the Group provides landscaping services for a wide range of clients, including large private residences, Government premises, schools, shopping malls, hotels, airports, Hong Kong Science Park, Hong Kong University of Science and Technology and Lingnan University, etc.For pest management business, the Group continued to provide pest management services in Wong Tai Sin and Tai Po districts during the Period. In addition, the Group provided termite control and monitoring services to 29 monuments under the Antiquities and Monuments Office and 24 temples under the Chinese Temples Committee respectively.The Government is developing the Northern Metropolis at full speed and a number of public housing estates are scheduled for completion in phases. In particular, intake of tenants at the public housing estates in northern Kwu Tung North and Fanling North New Development Area will commence progressively from 2026. The Northern Metropolis will provide about 500,000 new housing units after fully developed, which is believed to bring opportunities to the Group’s core businesses.Mr. Ng Wing Hong, Chairman of Baguio, commented, “The Government demonstrates a strong commitment to environmental agenda. Baguio’s core businesses are closely related to the livelihood of the general public and are not affected by the economic environment. Despite the presence of economic headwinds, the Group’s core business continues to demonstrate a growth trajectory.While the implementation of the Waste Charging was postponed during the Period, the Government has significantly increased its efforts to increase various types of recycling spots through recyclers. For example, the addition of night mobile food waste recycling spots to facilitate citizens’ recycling, with improvement in terms of quality and quantity, which directly brings growth impetus to the Group’s recycling business. Therefore, the postponement of Waste Charging has no adverse impact on the Group’s recycling business, and on the contrary, results in an increase in business. In the long run, waste reduction and recycling will help achieve the Government’s goal of “Zero Landfill”, and benefit the development of the Group’s recycling and green technology businesses.”Looking forward, the Group will continue to increase the market share of its core businesses and proactively engage in expansion in Hong Kong and beyond. Meanwhile, in line with the development of the Group, it will actively explore potential mergers and acquisitions, joint ventures or new business projects to accelerate future business growth and deliver substantial and long-term returns to shareholders.For details of the Group's 2024 interim results announcement, please visit the following website:http://www.baguio.com.hk/en-US/Investor%20Relations/Announcements%20and%20Notices- End -About Baguio Green GroupEstablished in 1980, Baguio Green Group (Stock code: 01397.HK) is one of Hong Kong’s largest integrated environmental services groups. It provides a full spectrum of professional services including professional cleaning, waste collection & recycling, waste management, green technology, organic fertilizer and animal feed production, horticulture & landscaping, and pest control. It serves a wide range of customers in various sectors including Government departments, statutory organizations and multinational corporations. Fully committed to ESG, the Group works relentlessly to advance sustainable development and create a cleaner, greener, healthier city. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - CanSino Biologics Inc. (CanSinoBIO) today disclosed its performance report for the first half of 2024, with revenue reaching 303 million yuan, while losses were substantially reduced. The meningococcal conjugate vaccines demonstrated robust growth, particularly the Group ACYW135 Meningococcal Conjugate Vaccine (CRM197), known as MCV4 or Menhycia®. As the first quadrivalent meningococcal conjugate vaccine product in Asia, it not only fills the market gap, but also provides a better choice for the prevention of meningococcal disease in Chinese infants and young children. In the first half of 2024, CanSinoBIO's two meningococcal vaccines generated approximately 263 million yuan in revenue, marking a significant increase of around 18% compared to last year.In addition, CanSinoBIO is making strides in clinical trials for expanding the age group of MCV4, aiming to cover children aged four and above, as well as adults. This initiative seeks to broaden vaccination coverage to meet the needs of a wider population. Concurrently, the company is advancing the international market expansion of the MCV4, leveraging its successful overseas commercialization experience with its COVID-19 vaccine. CanSinoBIO is deepening collaborations with leading international research institutions, focusing on registration and commercialization in Southeast Asia, the Middle East, North Africa, and South America. It indicates that the company is accelerating the commercial layout in the global market.Moreover, the market expansion experiences and strategic partnerships will support to expand the reach of its PCV13i [13-valent pneumococcal conjugate vaccine (CRM197, TT Vector)] and DTcP (diphtheria, tetanus and acellular pertussis) components vaccine franchise in global markets. The company is also planning and preparing for WHO PQ certification, exploring the feasibility of international organizations. For global innovative products, CanSinoBIO will actively explore the possibility of accessing developed countries.In terms of commercialization strategy, CanSinoBIO has adopted an efficient and precise model, relying on its direct sales team and leveraging professional promoters to rapidly extend its marketing network to the county-level areas. The company adheres to a professional academic and customer-oriented approach, ensuring that products reach target groups through in-depth research and terminal services. This approach helps control sales expenses and achieves intensive operations. To date, CanSinoBIO has established a well-structured commercial operation center for both domestic and international markets. The MCV4 has been approved in 30 provinces in China, comprehensively opening up the domestic market. The successful commercialization of MCV4 has laid a solid foundation for the upcoming PCV13i, which is currently undergoing clinical and manufacturing site inspections as planned.CanSinoBIO has also made significant progress in cost reduction and efficiency improvement, with sales and administrative expenses decreasing by approximately 13% and 39% compared to the same period last year, respectively, reflecting ongoing improvements in operational efficiency.Overall, CanSinoBIO has integrated R&D, production, and commercialization, gradually transforming into a biopharmaceutical company. With the successful commercialization of MCV4 and the upcoming approval and launch of new products like PCV13i, CanSinoBIO's performance is expected to continue growing. The company’s management team is confident on the company's prospects and has demonstrated strong support through increasing shareholdings. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors, today announced its unaudited financial results for the second quarter of 2024.Noah recorded total net revenue of RMB 616 million in the second quarter of 2024. The wealth management business generated net revenues of RMB 416 million, while the asset management business reported net revenues of RMB 192 million.Strategically Overseas Expansion and Comprehensive investment SolutionsNoah’s overseas expansion is gaining momentum as client demand for global asset allocation strengthens, with overseas net revenue contribution increasing to 46.3% in the first half of 2024 and asset under management increasing 14.1% year-over-year during the quarter. Noah also raised US$ 338 million for overseas private equity, private credit, and other primary market funds year-to-date, a significant 40.2% year-over-year increase.Income from operations was RMB 134 million, an increase of 10.3% sequentially, with an operating margin of 21.8%, an increase from 18.7% in the first quarter of 2024. These results directly reflect the early success of Noah’s strategic transformation as it implements effective cost control measures, restructures its domestic business, and accelerates its expansion overseas."The pace of our overseas expansion is gaining momentum," said Zhe Yin, the Chief Executive Officer of Noah Holdings. "Our team of overseas relationship managers directly supporting this expansion grew 101.8% year-over-year and 24.2% sequentially during the quarter. While we are still in the relatively early stages of our overseas expansion, these results reflect the direction we are headed in going forward.”“Domestically, we are focused on stabilizing operations by streamlining our branch network to reduce overhead costs and adjusting our client service model to comply with evolving regulatory requirements by separating relationship and business development managers into different independent business units. While these initiatives may temporarily impact business activity over the next few quarters, they will ensure our ability to effectively and compliantly serve clients with a comprehensive portfolio of products in the long term. I am pleased with the progress we have made this quarter in expanding overseas, and confident in both our long-term growth potential and ability to consistently generate returns for shareholders."As of June 30, 2024, the number of overseas registered clients increased by 6.7% sequentially 23.0% year-over-year to 16,786, further reflecting the growing demand for overseas asset allocation. Notably, the number of overseas diamond and black card clients saw an even more substantial year-on-year increase of 14.2%.The Company also observed a shift in product preferences, a trend that aligns with the forward-looking strategies outlined in Noah's Chief Investment Office’s (CIO) house view. Interest in investment products increased substantially as a result of expectations for a potential Federal Reserve rate cut during the second half of the year. Known for its expertise and ability to offer clients alternative investments on a global basis, Noah is uniquely positioned to capitalize on this opportunity to grow its USD AUA.As of June 30, 2024, Noah’s overseas relationship manager team grew to 113, a 24.2% increase sequentially. This expansion reflects Noah’s commitment to building a robust presence in key international financial hubs, and enhances its ability to serve high-net-worth clients with comprehensive global investment solutions.Prioritizing Shareholder Interests and Delivering Sustained ReturnsAs part of its commitment to enhancing shareholder returns, the board of directors of the Company authorized a share repurchase program under which the Company may repurchase up to US$50 million of its American depositary shares or ordinary shares, effective immediately. The authorized term for carrying out this share repurchase program is two years.Noah announced in November 2023 that a new capital management and shareholder return policy (the “Policy”) had been adopted, pursuant to which up to 50% the Company's non-GAAP net income attributable to shareholders of the preceding financial year will be allocated to a Corporate Actions Budget which will serve various purposes, including dividend distribution and share repurchases. The share repurchase program announced on August 29 2024 does not form a part of the Corporate Actions Budget under the Policy. The Corporate Actions Budget based on Noah’s financial performance in 2024 is expected to be determined and announced alongside the Company’s earnings results for the fourth quarter and full year ending on December 31, 2024.Ms. Jingbo Wang, co-founder and chairwoman of Noah, commented, “This share repurchase program, along with the dividend payout we just completed, reflects our unwavering commitment to prioritizing shareholder interests and delivering sustained returns. While China’s wealth management industry is navigating a challenging period and undergoing a transition, we remain confident in Noah’s unique advantages stemming from our deep understanding of Mandarin-speaking high-net-worth individuals’ (HNWI) needs and our ability to deliver products and services to this still-growing client base. We are one of a few independent firms that maintains access, through years of investor education, to a large group of qualified individual investors who continue to seek professional services.”“As such, we believe that our stock is deeply undervalued and does not reflect our growth prospects, robust balance sheet and cash reserves, or the special bond we have formed with the Mandarin-speaking HNWIs globally. We value both our long-term and new shareholders and are committed to sharing our success with them through more proactive capital allocation policies moving forward.”Strengthening Commitment to ESG PrinciplesIn the first half of 2024, Noah published its 10th Annual environmental, social, and governance (ESG) report, highlighting its decade-long commitment to corporate responsibility and sustainable practices. Additionally, Gopher Asset Management, Noah's asset management arm, also joined the latest Nature Responsible Management initiative, Spring, announced by Principles for Responsible Investment (PRI) in 2024, reinforcing its role in driving responsible investment practices in order to halt and reverse biodiversity loss by 2030.By aligning with the PRI, Noah reaffirms its commitment to integrating ESG factors into its investment processes, fostering sustainable and responsible investment practices that benefit all stakeholders.Noah continues to adapt and evolve amidst a challenging market environment. The Company’s strategic initiatives, focused on global expansion, technological innovation, and sustainable practices, are beginning to yield tangible results, laying a strong foundation for continued success in the years to come.-  END  - Copyright 2024 ACN Newswire via SeaPRwire.com.

Financial Highlights for the First Half of 2024- On a consolidated basis, revenue was RMB18,339.730 million, representing an increase of 22.01% as compared with the corresponding period last year, which was above the level of the industry growth;- Profit attributable to owners of the Company was RMB3,498.318 million, representing an increase of 23.36% as compared with the corresponding period last year;- Earnings per share was RMB1.34, representing an increase of 22.94% as compared with the corresponding period last year.HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Fuyao Glass Industry Group Co., Ltd. (“Fuyao Glass” or “the Company”; Stock Code: 600660.SH, 3606.HK) is pleased to announce the unaudited interim results of the Company and its subsidiaries for the six months ended June 30, 2024 (“Reporting Period”).Seizing market opportunities, securing robust growth in both revenue and profitsIn the first half of 2024, as the global economic growth slowly recovered, the international situation was complex and volatile, and the geopolitical conflicts intensified, the stability of the global industrial chain and supply chain still be challenged. China’s automobile industry showed growth in key economic indicators along with the trade-ins and the introduction of local supporting policies. According to the statistics released by the China Association of Automobile Manufacturers, automobile production volume and sales volume from January to June 2024 amounted to 13.891 million units and 14.047 million units, representing a year-on-year increase of 4.9% and 6.1%, respectively.The Company seized market opportunities, leading manufacturing upgrades through technological innovation, while enhancing efficiency with digital upgrades. High-quality development steadily advanced, and profitability has further improved. During the Reporting Period, the Company, on a consolidated basis, realized revenue of RMB18,339.730 million, representing an increase of 22.01% as compared with the corresponding period last year, which was above the level of the industry growth; realized profit before tax of RMB4,125.070 million, representing an increase of 24.27% as compared with the corresponding period last year; realized profit for the Reporting Period attributable to owners of the Company of RMB3,498.318 million, representing an increase of 23.36% as compared with the corresponding period last year; and realized earnings per share of RMB1.34, representing an increase of 22.94% as compared with the corresponding period last year.During the Reporting Period, the Company’s profit before tax increased by 24.27% as compared with the corresponding period last year. Excluding the losses from foreign exchange and the reduced investment revenue resulting from Taiyuan Jinnuo Industry Co., Ltd.’s termination of provisions pertaining to the transfer of the remaining 24% equity interest in Fuyao Group Beijing Futong Safety Glass Co., Ltd. , the profit before tax increased by 59.96% as compared with the corresponding period last year.Enhancing comprehensive competitiveness with outstanding performance of high value-added productsDuring the Reporting Period, the Company carried out work according to the Group’s business strategy centered on “continuously creating values for customers” with the market-oriented approach, the support of technological innovation and the protection by standardised management, to ensure the improvement of the comprehensive competitiveness of the Company.In terms of product quality, the Company conducted strict quality control at every stage, from product design, procurement of raw materials, production and manufacturing to finished product warehousing, thus ensuring the quality and reliability of its products and effectively preventing and controlling quality issues.In terms of supply, the Company improved global supply assurance capability. And it planned and laid out a comprehensive global supply system in advance according to industry trends; the Company also continuously innovated and optimized the production process, shortening the time from product input to warehousing, building flexible and agile production capabilities to ensure the global delivery and capacity, achieving mutual achievements and growth with the automobile industry.In terms of innovation capability development, the Company has continuously increased innovation efforts in technology, management and other areas. The proportion of high value-added products such as intelligent panoramic skylight glass, dimmable glass, head-up display glass, ultra-insultating glass, lightweight ultra-thin glass, coated heatable glass, tempered laminated glass has continued to grow, rising by 4.82 percentage points compared to the corresponding period last year, reflecting their value.In terms of sales, the Company always put customer needs first, insisted on rapid response and efficient service, established a high level of trust with customers, focused on creating value for customers, and built Fuyao’s sales organization, thus improving its sales management capabilities, increasing market expansion efforts and broadening sales channels.In terms of team building, the Company adhered to the people-oriented principle, ensured competitive employees’ benefits, promoted the humanities construction of Fuyao and established good discipline and work style, and built a more active and efficient international team.The Company stated: “The global economy will remain tough in the second half of 2024, and economic growth will continue to be confronted with multiple risks and challenges. In this regard, Fuyao will be prudent in every step of its operation: to strictly control the quality of products and new product development in all aspects, refine work process, make good use of the ‘one-vote veto system for quality’, and further create a good quality culture, form the work atmosphere where everyone cares about and values quality; to continues to optimize the Company’s production process, and establish agile management and flexible production mechanisms so as to ensure the global delivery and service, as well as high quality development while expanding its business scale; to continue to strengthen technological innovation, increase investment in R&D, accelerate the speed of R&D, promote product upgrades, and enhance Fuyao’s core competitiveness, with the focus on new materials, new processes, new technologies and cross-disciplinary cooperation; to enhance digital construction by digitizing operations, creating digital platforms, and making platforms intelligent and practically applicable, and ensure that data from various areas of the actual business process is transparent, shared, understandable, and useful, thereby leveraging the efficiency of digitization; to continue to play a leading role in sales, establish an all-round sales management mechanism, make efforts in multiple markets at home and abroad, expand new customers, stabilize regular customers, optimize the level of service, improve customer satisfaction and enhance corporate competitiveness; to continuously increase efforts in talent cultivation, train professionals in new technologies, management, automation, digitization and internationalization, implement staff development, strengthen organizational effectiveness, and improve corporate image and brand value.”- END -About Fuyao Glass Industry Group Co., Ltd.Established in 1987 in Fuzhou, China, Fuyao Group (Fuyao Glass Industry Group Co., Ltd.) is a large multinational conglomerate specialising in automotive safety glass, which was listed on the main board of the Shanghai Stock Exchange in 1993 (A-share code: 600660) and on the Hong Kong Stock Exchange in 2015 (H-share code: 3606), forming an “A+H” model with both domestic and overseas capital platforms.The Company is principally engaged in providing total solutions of safety glass and automotive accessories for various transportation vehicles, including design, manufacture and sale of automotive grade float glass, automotive glass, locomotive glass, luggage racks, vehicle window trims and provision of relevant services. The business model of the Company is globalized research and development, design, manufacture, distribution and after-sales services. Adhering to its brand development strategy of maintaining an industry-leading position in technology and quickly responding to market changes, the Company works with its customers on product design, manufacturing and rendering of services, focuses on improving its business ecological chain and responds to the ever-changing demand of customers systematically, professionally and rapidly, thus creating value for its customers. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors, today announced its unaudited financial results for the second quarter of 2024.Noah recorded total net revenue of RMB 616 million in the second quarter of 2024. The wealth management business generated net revenues of RMB 416 million, while the asset management business reported net revenues of RMB 192 million.Strategically Overseas Expansion and Comprehensive investment SolutionsNoah’s overseas expansion is gaining momentum as client demand for global asset allocation strengthens, with overseas net revenue contribution increasing to 46.3% in the first half of 2024 and asset under management increasing 14.1% year-over-year during the quarter. Noah also raised US$ 338 million for overseas private equity, private credit, and other primary market funds year-to-date, a significant 40.2% year-over-year increase.Income from operations was RMB 134 million, an increase of 10.3% sequentially, with an operating margin of 21.8%, an increase from 18.7% in the first quarter of 2024. These results directly reflect the early success of Noah’s strategic transformation as it implements effective cost control measures, restructures its domestic business, and accelerates its expansion overseas."The pace of our overseas expansion is gaining momentum," said Zhe Yin, the Chief Executive Officer of Noah Holdings. "Our team of overseas relationship managers directly supporting this expansion grew 101.8% year-over-year and 24.2% sequentially during the quarter. While we are still in the relatively early stages of our overseas expansion, these results reflect the direction we are headed in going forward.”“Domestically, we are focused on stabilizing operations by streamlining our branch network to reduce overhead costs and adjusting our client service model to comply with evolving regulatory requirements by separating relationship and business development managers into different independent business units. While these initiatives may temporarily impact business activity over the next few quarters, they will ensure our ability to effectively and compliantly serve clients with a comprehensive portfolio of products in the long term. I am pleased with the progress we have made this quarter in expanding overseas, and confident in both our long-term growth potential and ability to consistently generate returns for shareholders."As of June 30, 2024, the number of overseas registered clients increased by 6.7% sequentially 23.0% year-over-year to 16,786, further reflecting the growing demand for overseas asset allocation. Notably, the number of overseas diamond and black card clients saw an even more substantial year-on-year increase of 14.2%.The Company also observed a shift in product preferences, a trend that aligns with the forward-looking strategies outlined in Noah's Chief Investment Office’s (CIO) house view. Interest in investment products increased substantially as a result of expectations for a potential Federal Reserve rate cut during the second half of the year. Known for its expertise and ability to offer clients alternative investments on a global basis, Noah is uniquely positioned to capitalize on this opportunity to grow its USD AUA.As of June 30, 2024, Noah’s overseas relationship manager team grew to 113, a 24.2% increase sequentially. This expansion reflects Noah’s commitment to building a robust presence in key international financial hubs, and enhances its ability to serve high-net-worth clients with comprehensive global investment solutions.Prioritizing Shareholder Interests and Delivering Sustained ReturnsAs part of its commitment to enhancing shareholder returns, the board of directors of the company authorized a share repurchase program under which the Company may repurchase up to US$50 million of its American depositary shares or ordinary shares, effective immediately. The authorized term for carrying out this share repurchase program is two years.Noah announced in November 2023 that a new capital management and shareholder return policy (the “Policy”) had been adopted, pursuant to which up to 50% the Company's non-GAAP net income attributable to shareholders of the preceding financial year will be allocated to a Corporate Actions Budget which will serve various purposes, including dividend distribution and share repurchases. The share repurchase program announced on August 29 2024 does not form a part of the Corporate Actions Budget under the Policy. The Corporate Actions Budget based on Noah’s financial performance in 2024 is expected to be determined and announced alongside the Company’s earnings results for the fourth quarter and full year ending on December 31, 2024.Ms. Jingbo Wang, co-founder and chairwoman of Noah, commented, “This share repurchase program, along with the dividend payout we just completed, reflects our unwavering commitment to prioritizing shareholder interests and delivering sustained returns. While China’s wealth management industry is navigating a challenging period and undergoing a transition, we remain confident in Noah’s unique advantages stemming from our deep understanding of Mandarin-speaking high-net-worth individuals’ (HNWI) needs and our ability to deliver products and services to this still-growing client base. We are one of a few independent firms that maintains access, through years of investor education, to a large group of qualified individual investors who continue to seek professional services.”“As such, we believe that our stock is deeply undervalued and does not reflect our growth prospects, robust balance sheet and cash reserves, or the special bond we have formed with the Mandarin-speaking HNWIs globally. We value both our long-term and new shareholders and are committed to sharing our success with them through more proactive capital allocation policies moving forward.”Strengthening Commitment to ESG PrinciplesIn the first half of 2024, Noah published its 10th Annual environmental, social, and governance (ESG) report, highlighting its decade-long commitment to corporate responsibility and sustainable practices. Additionally, Gopher Asset Management, Noah's asset management arm, also joined the latest Nature Responsible Management initiative, Spring, announced by Principles for Responsible Investment (PRI) in 2024, reinforcing its role in driving responsible investment practices in order to halt and reverse biodiversity loss by 2030.By aligning with the PRI, Noah reaffirms its commitment to integrating ESG factors into its investment processes, fostering sustainable and responsible investment practices that benefit all stakeholders.Noah continues to adapt and evolve amidst a challenging market environment. The Company’s strategic initiatives, focused on global expansion, technological innovation, and sustainable practices, are beginning to yield tangible results, laying a strong foundation for continued success in the years to come. Copyright 2024 ACN Newswire via SeaPRwire.com.

Results Highlights for the Six Months Ended June 30, 2024:- Revenue reached to approximately US$475.4 million, grew by 11.6% YoY- Gross Profit amounted to approximately US$163 million and gross profit margin was 34.4%- Profit grew significantly by 23.6% to approximately US$35.6 million- In the first half of 2024, the Company brought to market the 7th generation (G7) of the SR2X Series, which has been the best-selling single-engine piston model aircraft in the world for the last 22 consecutive years.- Net orders increased for both the SR2X and Vision Jet combined for the six months ended June 30, 2024 by a total of 107 units from 255 for the six months ending June 30, 2023 to 362 for the six months ending June 30, 2024.HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Cirrus Aircraft Limited (“Cirrus Aircraft” or “Company”) and its subsidiaries (together, the “Group”)( 2507.HK) announces the unaudited consolidated results for the six months ended June 30 2024 (the “Reporting Period”).During the Reporting Period, revenue of the Group grew by 11.6% to US$475.4 million, as compared with US$426.0 million for the same prior year period. Gross profit increased by 10.0% to US$163.4 million as compared with US$14.8 million for the same prior year period. Profit for the Reporting Period significantly increased by 23.6% from US$28.8 million for the same prior year period to US$35.6 million. It is primarily due to increased aircraft deliveries, increased pricing on the aircraft, and better mix of revenue generated from Cirrus Services and Other towards its services with higher margin.The leading aircraft manufacturer in the global personal aviation marketSince the inception in 1984 in Wisconsin, United States, Cirrus Aircraft is committed to design, develop, manufacture, and sell premium aircraft recognized across the personal aviation industry, which incorporate innovations in safety, technology, connectivity, performance, and comfort. The Company’s two aircraft product lines, the SR2X Series and the Vision Jet, have successfully set the industry standard for owner-piloted aircraft and are currently certified and validated in more than 60 countries with cumulative deliveries of over 9,700 SR2X Series aircraft and over 500 Vision Jet aircraft worldwide as of the June 30, 2024.As part of its wide-ranging product offering strategy, the Company’s SR2X Series consists of an entry level aircraft, the SR20, as well as the SR22 and SR22T, both of which offer increasing levels of performance and capabilities addressing different customer needs and preferences for a single-engine piston aircraft. SR2X Series aircraft can typically carry up to four adults and one child. The Vision Jet targets a different and more premium segment of the personal aviation market and offers significantly enhanced performance, capabilities and specifications at a higher price point. The Vision Jet is also designed for owners to fly at jet speed without requiring support from a full-time pilot or flight department. The Vision Jet can typically carry up to five adults and two children. With the launch of the G7 line and continuous upgrade of product portfolio, it will sustain the growth of the business and continue to provide a premium experience for the customers.In the first half of 2024, Cirrus Aircraft delivered 20 more aircraft and the average sales prices (“ASP”) of all deliveries steady increased as compared to the same period in 2023. The average sales price of the SR2X aircraft deliveries was approximately US$1.04 million compared to US$0.99 million in the same period in 2023. The average sales price of the Vision Jet aircraft deliveries was US$3.33 million compared to US$3.08 million in the same period in 2023. At the same time, net orders increased for both the SR2X and Vision Jet combined for the six months ended June 30, 2024 by a total of 107 units from 255 for the six months ending June 30, 2023 to 362 for the six months ending June 30, 2024. This increase is partly attributable to the launch of the G7 line as well as the continuation of the product ladder between the two product lines and the growing ecosystem around the ownership experience. The significantly increased net orders recorded during the Reporting Period will bring a great momentum for the steady growth of the Company.Outlook and Future PlanIn the future, Cirrus Aircraft will continue to focus on product improvement, model upgrades and ongoing generational changes to equip its aircraft with new technologies and designs to consolidate the leading position of the industry. Meanwhile, the Company intend to adopt a series of measures, including monetize installed base through establishing, among many things but not limited to, new maintenance programs, and expanding aircraft management solutions and an array of useful customer services, enhance flight training solutions, advance and expand its aircraft and services portfolio, advance production capabilities, expand its markets globally and establish on-demand personal aviation solutions, to support the future business development and the long-term steady growth of the Company.In recent, as part of the ongoing efforts to increase the capacity and efficiency of the manufacturing facilities, the Company has also completed significant improvements in its manufacturing facility in Grand Forks, including expanded autoclave and mold capacity. In addition, the Company continues to increase the areas of the production facilities in which the Company has implemented its Cirrus Operating System (COS) which continues to increase the operating efficiency. Cirrus Aircraft anticipates these continued improvements will help increase and support future production.In regards to the marketing strategy, the Company adjusted its sales structure in the United Kingdom and France from CSAs to direct sales, which the Company anticipates will drive growth in these markets by developing direct relationships with the customers earlier in the sales cycle, maintaining closer relationships throughout the customers’ ownership experience and allowing the Company to strategically and directly drive sales and marketing initiatives. Moreover, the Company continues to expand the investment within its product portfolio. In April 2024, the Company received the production certificate from Federal Aviation Administration of the U.S. Department of Transportation for its SR10 aircraft, which is the first of its kind clean sheet design exclusive to training the next generation of pilots.                                        - End -About Cirrus Aircraft LimitedCirrus Aircraft Limited is a pioneer and an established global market leader in the personal aviation industry, according to Frost & Sullivan. The Company designs, develops, manufactures, and sells premium aircraft recognized across the personal aviation industry, which incorporate innovations in safety, technology, connectivity, performance, and comfort. The market share of Cirrus Aircraft in the global personal aviation market was 32.0% in 2023 based on the number of units delivered, according to Frost & Sullivan. The Company’s two aircraft product lines, namely SR2X Series and Vision Jet, have successfully set the industry standard for owner-piloted aircraft and are currently certified and validated in more than 60 countries. According to GAMA, SR2X Series has been the best-selling single-engine piston aircraft for 22 consecutive years, while according to GAMA and Frost & Sullivan, Vision Jet has been the best-selling business jet for the last six consecutive years since it first delivered in 2016.This press release is issued by Porda Havas International Finance Communications Group for and on behalf of Cirrus Aircraft Limited. For further information, please contact:Porda Havas International Finance Communications GroupTelephone: 852 3150 6788Email: cirrusaircraft.hk@h-advisors.global Copyright 2024 ACN Newswire via SeaPRwire.com.