Month: September 2024

Kuala Lumpur, Sept 12, 2024 - (ACN Newswire via SeaPRwire.com) — CBL International Limited (NASDAQ: BANL) (the “Company” or “CBL”), the listing vehicle of Banle Group (“Banle” or “the Group”), a leading marine fuel logistic company in the Asia-Pacific region, today announced its unaudited financial results for the six months ended June 30, 2024.Financial Highlights:- Revenue: Consolidated revenue for 1H 2024 increased by 44.4% to approximately $277.23 million, compared to $191.96 million in the same period in 2023. This significant growth was driven by a 39.4% year-over-year increase in sales volume, attributed to the expansion of the Company's global supply network and higher marine fuel demand due to geopolitical factors.- Gross Profit: Gross profit for the period was approximately $2.72 million, a decrease of 32.2% compared to $4.01 million for 1H 2023. This decline was primarily driven by the reduction in premium sold to customers and led to lower gross profit per ton, which was partially offset by an increase in volume sold.- Operating Expenses: Operating expenses rose by 64.0% to approximately $4.12 million, up from $2.51 million in 1H 2023. This increase was attributed to higher selling and distribution expenses related to our sales growth, strategic expansion in the Company's supply network to new geographic areas, and the development of our biofuel operations.- Net Income: The company reported a net loss of approximately $1.62 million, compared to a net income of $1.15 million in 1H 2023. The loss was driven by lower gross margin and higher operating costs.- Cash Flow: Net cash provided by operating activities was approximately $2.30 million, a significant improvement from a cash outflow of $7.24 million in 1H 2023, reflecting better management of working capital.- Cash position: As of June 30, 2024, Banle's consolidated cash balance increased by approximately $2.29 million, or 30.9%, to $9.69 million, compared to $7.40 million as of December 31, 2023. This increase was primarily driven by improved working capital management. The Company also reported a significant increase in accounts receivable and accounts payable balances, reflecting the growth in its sales activities.Operational Highlights:- Global Network Expansion: As of June 30, 2024, Banle expanded its global service network from 36 ports at our IPO in March 2023 to over 60 ports across Asia, Europe and Africa. This strategic expansion has enabled the Company to secure new bunkering business opportunities, particularly in European markets where environmental regulations are increasingly stringent. The opening of the Company's new office in Ireland in late 2023 has bolstered our market coverage and enhanced local sourcing capabilities. Notably, the Company completed inaugural bunkering services through a local physical supplier in Mauritius in May 2024, further strengthening our market presence.- Biofuel Initiatives: Banle continued its commitment to sustainability by expanding its B24 biofuel operations, obtaining ISCC EU and ISCC Plus certifications in 2023. The Company successfully commenced biofuel bunkering services through local physical suppliers in Hong Kong, China, and Malaysia, positioning itself as a pioneer in sustainable fuel solutions. The B24 biofuel blend, which includes 24% UCOME (used cooking oil methyl ester), offers a 20% reduction in greenhouse gas emissions compared to conventional marine fuels, aligning with global decarbonization efforts.- Response to Macroeconomic Environment: The global economy has shown signs of moderate growth in 2024, with emerging markets, particularly in Asia, driving this recovery. However, the shipping industry continues to face challenges such as fluctuating freight rates, port congestion, and disruptions in major trade routes due to the ongoing Red Sea Crisis. Banle has proactively adapted to these conditions, coordinating increased fuel supplies in Asian ports to meet heightened demand, ensuring that our customers' needs are met despite logistical challenges​​.Management Commentary:“We are pleased with the robust growth in our revenue and sales volume during the first half of 2024, despite the challenging market conditions. Our strategic initiatives, including the expansion of our service network and our focus on sustainable fuel solutions, have positioned us well to navigate these challenges and capitalize on emerging opportunities,” said Teck Lim Chia, Chairman & CEO of Banle Group. “While the current market environment has pressured our margins, we remain confident in our long-term strategy and our ability to deliver value to our shareholders.”Outlook:Looking ahead, Banle remains focused on expanding its market presence, particularly in the biofuel sector, and continuing to enhance its global supply network. The Company is committed to driving operational efficiency and delivering sustainable growth in the face of ongoing macroeconomic challenges.Webcast DetailsCBL International Limited (Nasdaq: BANL) cordially invites you to participate in a webcast to discuss its financial results for the six months ended June 30, 2024.Event:2024 Interim Results WebcastDate and Time:10:00 am – 11:00 am HKT on 13 September 2024 (Friday) 10:00 pm – 11:00 pm EST on 12 September 2024 (Thursday)Access:The webinar can be accessed live through the website or by scanning the QR code provided below.Webcast Link:https://webcast.roadshowchina.cn/SHMrSGhud1hrRTZTNmRkZ0dMb09Hdz09QR Code: About the Banle GroupCBL International Limited (Nasdaq: BANL) is the listing vehicle of Banle Group, a reputable marine fuel logistic company based in the Asia Pacific region that was established in 2015. We are committed to providing customers with one-stop solution for vessel refueling, which is referred to as bunkering facilitator in the bunkering industry. We facilitate vessel refueling mainly through local physical suppliers in over 60 major ports covering Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Panama, the Philippines, Singapore, Taiwan, Thailand, Turkey and Vietnam, as of August 28, 2024. The Group actively promotes the use of sustainable fuels and is awarded with the ISCC EU and ISCC Plus certifications.For more information about our company, please visit our website at: https://www.banle-intl.com.Forward-Looking StatementsCertain statements in this announcement are not historical facts but are forward-looking statements. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan,” “should,” “would,” “plan,” “future,” “outlook,” “potential,” “project” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other performance metrics and projections of market opportunity. They involve known and unknown risks and uncertainties and are based on various assumptions, whether or not identified in this press release and on current expectations of BANL’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of BANL. Some important factors that could cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business, markets, financial, political and legal conditions, geopolitical disruptions and other events that result in material changes in fuel prices. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.For more information, please contact:CBL International Limited Email: investors@banle-intl.comStrategic Financial Relations LimitedShelly Cheng Tel: (852) 2864 4857Iris Au Yeung Tel: (852) 2114 4913Email: sprg_cbl@sprg.com.hk Copyright 2024 ACN Newswire via SeaPRwire.com.

吉隆坡, 2024年9月12日 - (亚太商讯 via SeaPRwire.com) — 万利集团（以下简称“万利”或“集团”）之上市实体CBL International Limited（以下简称“公司”或“CBL”）（美国纳斯达克交易所代码：BANL），亚太地区知名燃油供应服务商，今天公布截至2024年6月30日2024年未经审计中期业绩。财务亮点：- 收入：2024年上半年合并收入增长44.4%，达到约2.77亿美元，对比2023年同期为1.92亿美元。这一显著增长主要得益于销售量年度同比增长39.4%，归因于公司全球供应网络的扩展以及地缘政治因素导致的船用燃料需求增加。- 毛利：本报告期内毛利约为272万美元，较2023年上半年的401万美元下降了32.2%。毛利下降主要由于向客户销售的溢价减少导致每吨毛利润下降，但部分被销售量的增加所抵消。- 运营费用：运营费用增长了64.0%，达到约412万美元，而2023年上半年为251万美元，主要是由于销售增长导致销售和分销费用增加、供应网络战略性扩展至新地区以及开发生物燃料业务。- 净利：公司报告期净亏损约162万美元，而2023年上半年净收入为115万美元。产生亏损的原因是当期毛利率下降和运营成本增加。- 现金流：经营活动产生的净现金流入约为230万美元，相较于2023年上半年724万美元的现金流有显著改善，反映营运资本管理的改善。- 现金状况：截至2024年6月30日，万利的合并现金结余增加约229万美元，增长约30.9%，达969万美元，而2023年12月31日为740万美元。增长主要得益于营运资本管理有所改善。此外，公司应收账款和应付账款结余显著增加，反映了其销售活动的增长。运营亮点：- 全球网络扩展：截至 2024 年 6 月 30 日，万利的全球服务网络已从 2023年3月首次公开募股时的 36 个港口扩展到遍布亚洲、欧洲和非洲的超过 60 个港口。这一战略性扩张使公司能够获得新的燃油加注业务机会，尤其是在环境法规日益严格的欧洲市场。2023 年底公司在爱尔兰开设了新办事处，加强了公司的市场覆盖范围，并增强了当地采购能力。值得注意的是，公司在2024年5月通过毛里求斯当地的实体供应商完成了首次燃油加注服务，进一步巩固了公司在该市场的地位。- 生物燃料计划：万利持续致力于可持续发展，扩展其 B24 生物燃料业务，并在 2023年获得 ISCC EU和ISCC Plus认证。公司成功地在香港、中国和马来西亚通过当地的实体供应商开展生物燃料加注服务，将其定位为可持续燃料解决方案的先驱。B24生物燃料混合物包含24%的UCOME（废食用油甲酯），与传统船用燃料相比，可减少20%的温室气体排放，配合全球努力脱碳的方向。- 应对宏观经济环境：全球经济在2024年有温和增长的迹象，特别是亚洲的新兴市场推动了经济复苏。然而，航运业仍面临着运费波动、港口拥堵和因红海危机持续而导致的主要贸易路线中断等挑战。万利积极应对挑战，协调增加亚洲港口的燃料供应，确保在物流挑战的情况下仍能满足客户不断增长的需求。管理层总结：“尽管市场环境充满挑战，我们很高兴在2024年上半年看到收入和销售额的强劲增长。我们的战略举措，包括扩展服务网络和专注于可持续燃料解决方案，使我们能够很好地应对这些挑战并抓住新兴机遇。”万利集团董事长兼首席执行官谢威廉说，“虽然当前的市场环境对我们的利润率造成了压力，但我们对我们的长期战略以及为股东创造价值的能力仍然充满信心。”未来展望：展望未来，万利将继续专注于扩大其市场影响力，特别是在生物燃料领域，并持续增强其全球供应网络。集团致力于提高运营效率，并在面对持续的宏观经济挑战时实现可持续增长。网络直播详情：CBL International Limited（纳斯达克：BANL）诚邀您参加线上研讨会，就公司截至2024年6月30日六个月中期财务业绩作出讨论。- 活动：2024年中期业绩线上发布会- 日期和时间： - 2024年9月13日（星期五）香港时间上午10:00 – 11:00 - 2024年9月12日（星期四）美国东部时间晚上10:00 – 11:00- 访问：线上发布会可通过以下链接或扫描以下提供的二维码观看直播。网络广播链接： https://webcast.roadshowchina.cn/SHMrSGhud1hrRTZTNmRkZ0dMb09Hdz09二维码： 关于万利集团万利集团成立于 2015 年，以CBL International Limited（纳斯达克：BANL）在纳斯达克股票市场上市。我们致力于为客户提供一站式燃油供应服务，被业内称为燃油供应服务商。截至2024 年 8 月 28 日，我们主要通过当地实体供货商为船舶提供燃油加注服务，遍布比利时、中国、香港、印度、日本、韩国、马来西亚、毛里裘斯、巴拿马、菲律宾、新加坡、台湾、泰国、土耳其和越南，共覆盖超过60个港口。集团积极推动可持续燃料，并已取得ISCC EU和ISCC Plus认证。如欲了解更多信息，请到集团网站 https://www.banle-intl.com浏览。前瞻性声明本公吿中的某些陈述并非历史事实，而是前瞻性陈述。前瞻性陈述一般使用「相信」、「可能」、「可以」、「将要」、「估计」、「继续」、「预期」、「打算」、「期望」、「计划」、「应该」、「将会」、「规划」、「未来」、「展望」、「潜力」、「预测」等类似词语来预测或表达未来事件或趋势或不属于历史事项的陈述，但不使用这些词语并不意味着陈述并非前瞻性。这些前瞻性陈述包括但不限于对其他绩效指标的估计和预测，以及对市场机会的预测。这些信息涉及已知和未知的风险和不确定性，并基于各种假设（无论本新闻稿中是否指明）以及BANL管理层的当前预期，而非对实际业绩的预测。这些前瞻性陈述仅供帮助目的，不得被任何投资者作为且不得被依赖为对事实或可能性的担保、保证、预测或确凿陈述。实际事件和情况难以或不可能预测，也会与假设不同。许多实际事件和情况不在BANL的控制范围内。一些重要因素可能导致实际结果与任何前瞻性陈述存在实质性差异，包括国内外商业、市场、金融、政治、法律环境、地缘政治及其他导致燃料价格发生重大变化的事件的影响。公司没有义务公开更新或修改任何前瞻性陈述来反映随后发生的事件或情况或预期的变化，法律可能要求者除外。尽管公司认为该等前瞻性陈述中表达的预期合理，但不能向您保证此类预期最终正确无误。公司提醒投资者实际结果可能与预期结果存在重大差异，并鼓励投资者细阅公司的注册声明和向SEC提交的其他文件所载可能影响其未来业绩的其他因素。如需更多资讯，请联系：CBL International Limited电邮：investors@banle-intl.com纵横财经公关顾问有限公司郑松雪 电话：(852) 2864 4834欧阳蔚雯 电话：(852) 2114 4913电邮： sprg_cbl@sprg.com.hk Copyright 2024 亚太商讯 via SeaPRwire.com.

HONG KONG, Sept 12, 2024 - (ACN Newswire via SeaPRwire.com) - Themed "Collaborative Innovation: Chasing Dreams in the Greater Bay Area", the "Union of Chinese Contemporaries" 2024 Summit of young entrepreneurs from Macao, Guangdong, Hong Kong and Taiwan (the "Summit") opened in Hong Kong yesterday. Vice Chairman of the Chinese People's Political Consultative Conference Leung Chun-ying, Chief Executive of the Hong Kong Special Administrative Region John Lee Ka-chiu, Chairman of the Guangdong Provincial Committee of the Chinese People's Political Consultative Conference and Party Secretary of Guangzhou Lin Keqing, Deputy Director of the CPPCC Hong Kong, Macao and Taiwan Overseas Chinese Committee Wang Rong, Vice director of the Taiwan Work Office of the Communist Party of China Central Committee and the Taiwan Affairs Office of the State Council Pan Xianzhang, Vice Chairman of the Kuomintang Lien Sheng-wen, Director of the Sun Yat-sen Foundation Tang Bingquan, President of the Hong Kong Guangdong Chamber of Foreign Investors Stephen Tai Tak-fung attended and spoke at the opening ceremony.Other officiating guests included Director of the Liaison Office of the Central People’s Government in the HKSAR Zheng Yanxiong, Commissioner of the Ministry of Foreign Affairs in the HKSAR Cui Jianchun, Vice Governor of Guangdong Province Deng Haiguang, Secretary for Constitutional and Mainland Affairs of HKSAR Erick Tsang Kwok-wai, Secretary for Home and Youth Affairs of the HKSAR Alice Mak,Secretary of the Guangdong Provincial Committee Chen Wenming, Vice chairman of Straits Economic and Cultural Interchange Association Chu Ping-yu, President of Macau Youth Entrepreneur Association Li Juren, Honorary Chairman of Association of Taiwan Investment Enterprises on the Mainland Kuo Shan Huei KUO, Chief President of The Association of the Hong Kong Members of Guangdong's CPPCC Committees Eric Fok Kai-shan, Founder and executive vice chairman of Hong Kong Guangdong Youth Association Adam Kwok Kai-fai, Executive Vice President of the Hong Kong Guangdong Chamber of Foreign Investors, Vice President of The Association of the Hong Kong Members of Guangdong's CPPCC Committees Liu Yi Man.In his speech, Leung Chun-ying, Vice Chairman of the Chinese People's Political Consultative Conference, discussed the recent close collaboration between Hong Kong and the Mainland, and highlighted the advantages of Hong Kong in aiding the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area (“Greater Bay Area”), emphasizing the importance of leveraging the city's role as an international hub for finance, shipping and trade, and using her strengths in talent, language, legal frameworks, institutional systems, taxation, finance, and international market promotion. He said Hong Kong will play a significant role in the development of the Greater Bay Area. He also hoped for future opportunities to engage with young entrepreneurs from the mainland and other regions, and to encourage young people to seize the great opportunities for national rejuvenation and work together to create a brighter tomorrow.John Lee Ka-chiu, Chief Executive of the Hong Kong Special Administrative Region, said in his speech, "The Summit today presents an important platform for cooperation and exchanges among outstanding young entrepreneurs from both sides of the Taiwan Strait, as well as from Hong Kong and Macao, facilitating and promoting mutual learning and understanding, which is of great significance. The Hong Kong SAR Government has been actively encouraging youth innovation and entrepreneurship, motivating young entrepreneurs to pursue their dreams and realize their ambitions in the Greater Bay Area. The Pearl River Delta region has been a key area for Taiwanese enterprises to expand their business in the Mainland, and many Taiwanese businesses have already integrated into the local industrial chains. I hope young entrepreneurs on both sides of the Taiwan Straits will seize the opportunity for achieving high-quality development through collaboration in the Greater Bay Area, work diligently, innovate boldly, and make new milestones in their careers."Lin Keqing, chairman of the Guangdong Provincial Committee of the Chinese People's Political Consultative Conference and Party secretary of Guangzhou, commended the success of the exchange meeting. He said this year marks the fifth anniversary of the implementation of the "Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area" and that in the past five years, under the strong leadership of the central government, Guangdong, Hong Kong, and Macao have pursued synergistic innovation, complementing each other's strengths. The Greater Bay Area has witnessed a surge of creativity, showing the vast potential of growing into a world-class bay area. The Third Plenary Session of the 20th Central Committee of the Communist Party of China has established systematic arrangements to comprehensively deepen reforms and such developments are bringing new and significant opportunities for Hong Kong and Macao to better integrate into overall national development, injecting fresh momentum into expanding cross-strait cooperation and exchanges, helping deepen cross-strait integration and development. Currently, Guangdong is studying and implementing the spirit of the Third Plenary Session of the 20th Central Committee of the Communist Party of China, as well as the instructions in the important speeches of General Secretary Xi Jinping during his inspection of Guangdong. Construction of the Greater Bay Area presents the country with a significant opportunity for deepening reform and opening up, serving as a source of her high-quality development. Lin expressed hope that young entrepreneurs from Hong Kong, Guangdong, Macao, and Taiwan will actively seize the new major opportunities arising from the development of the country, better integrate into her new round of reform and opening up, and collaborate to create a vibrant chapter of pursuing dreams in the Greater Bay Area, achieve their aspirations and contribute to the bright future of national reunification and the great glory of national rejuvenation.In his speech, Wang Rong, Deputy Director of the CPPCC Hong Kong, Macao and Taiwan Overseas Chinese Committee, emphasized that in recent years, collaborative innovation between Guangdong, Hong Kong, and Macao has deepened significantly, and that technological innovation has driven industrial advancement, leading to the emergence of new industries, new models, and new momentum, which in turn has fostered new forms of productivity. The Greater Bay Area has become a rising global hub for innovation and growth, and the innovative development of the Greater Bay Area has attracted active participation of many Taiwanese entrepreneurs. In doing so, they are integrating into the new wave of national reform and opening up, as well as the process of Chinese-style modernization, helping create new opportunities for integrated development across the Taiwan Strait.In his speech, Lien Sheng-wen, Vice Chairman of the Kuomintang emphasized the infinite potential and charm of the Greater Bay Area. He believes the accumulation of talent pool in the Greater Bay Area is not limited to those from such fields as finance, trade, tourism, technology or industry, but also includes many other talent in the three places. More importantly, many young entrepreneurs dream about starting from scratch in the Greater Bay Area, investing in innovation and entrepreneurship, and ultimately creating outstanding enterprises.In his speech, Tang Bingquan, Director of the Sun Yat-sen Foundation, said, "The Greater Bay Area currently embodies boundless business opportunities and vast prospects. I hope through this year’s Summit, the young entrepreneurs from Guangdong, Hong Kong, Macau and Taiwan will see the new dynamics, new opportunities and information networks in the developing Greater Bay Area, and gain confidence in working together to foster innovative growth of the Area. I also hope to encourage more innovative enterprises and entrepreneurs to integrate and invest in the Greater Bay Area, and jointly build a world-class international bay area."Stephen Tai Tak-fung, President of the Hong Kong Guangdong Chamber of Foreign Investors, Founding Chief President of The Association of the Hong Kong Members of Guangdong's CPPCC Committees, pointed out that the theme of this year's Summit, which is "Collaborative Innovation: Chasing Dreams in the Greater Bay Area", is in line with the spirit of the Third Plenary Session and of essence to the construction of the Greater Bay Area. He said the Greater Bay Area is a major national strategy personally planned, deployed, and promoted by General Secretary Xi Jinping, and has an important strategic position in the new development pattern of the country. He thus hopes young entrepreneurs can make the best of the platform the exchange meeting provides to deepen mutual cooperation, give full play to their advantages and make greater contributions to the high-quality development of the country.Li Juren, President of Macau Youth Entrepreneur Association, said for young entrepreneurs from the four regions, it is a responsibility to anchor in the Greater Bay Area, which gives them a rare opportunity to integrate their strengths with those of the country to help her rejuvenate. He expects young entrepreneurs from various regions to learn from and inspire each other, drawing on and complementing each other's strengths. Through innovative cooperation, he aims to promote in-depth integration of urban agglomerations in the Greater Bay Area and together with all parties involved map out a grand blueprint for regional development.Deng Daixian, Secretary General of Taiwan Straits Economic and Cultural Interchange Association, believes economic, trade and cultural ties are crucial to connecting the two sides of the Taiwan Strait. Division of labor and cooperation along industrial chains and comprehensive economic integration and development are in the common interest of enterprises and people from the four regions cross-strait. He hopes young entrepreneurs from Guangdong, Hong Kong, Macao and Taiwan can collaborate to complement each other's strengths, establish a comprehensive exchange and cooperation platform, and open a broader and brighter future for themselves by tapping the development momentum of the Greater China Economic Area.This year's Summit gathered more than 400 young entrepreneurs from the two sides of the Taiwan Strait and the Hong Kong and Macau regions in Hong Kong to discuss cooperative development. It was an opportunity to establish an exchange and cooperation platform for promoting complementary advantages among the four regions, strengthening regional cooperation, and driving economic development in the Greater Bay Area. Representatives of young entrepreneurs from Guangdong, Hong Kong, Macau, and Taiwan took part in the afternoon enterprise forums and roundtable dialogues, engaging in enthralled discussions and exchanges on popular topics such as digital intelligence and modern finance, sharing their work experiences and unique insights about their industries.The Summit also arranged visits the following day for the participating young entrepreneurs to Hong Kong's landmarks in finance, innovation and technology, culture and art, including the HKMA Information Centre, the Stock Exchange of Hong Kong, Cyberport, West Kowloon Art Park, and the Palace Museum, allowing them to gain a deeper understanding of Hong Kong from multiple perspectives and further enhance exchanges and cooperation.The Summit was jointly organized by the Hong Kong Guangdong Foreign Businessmen Association, the Political Consultative Conference Members Friendship Associations in Hong Kong and Guangdong, the Sun Yat-sen Foundation, the Guangdong Youth Federation, the Macau Young Entrepreneurs Association, the Macau Youth Federation, the Taiwan Straits Economic and Cultural Interchange Association, and the Taiwan Elite Association.It was first held in 2016 and six sessions have taken place so far in Taiwan, Hong Kong, Macau, and Guangzhou, participated by more than 40 youth organizations and more than 2,600 outstanding young entrepreneurs, playing the significant role of promoting exchanges and cooperation among young entrepreneurs from the four regions. The Summit has helped spread the notion that "both sides of the Taiwan Strait are one family/people on both sides of the Taiwan Strait are all of the same family" and allowed sharing of successful "one country, two systems" experiences, while also fostering the peaceful development of cross-strait relations and contributing to the prosperity and stability of Hong Kong and Macau.The "Union of Chinese Contemporaries" 2024 Summit of young entrepreneursfrom Macao, Guangdong, Hong Kong and Taiwan opens in Hong Kong.Group photo of officiating guests and representatives of organizersOfficiating guests from both sides of the Taiwan Strait and Macao,Guangdong, Hong Kong and Taiwan attend the SummitVice Chairman of the Chinese People's Political Consultative ConferenceLeung Chun-yingJohn Lee Ka-chiu, Chief Executive of the Hong Kong Special AdministrativeRegionLin Keqing, chairman of the Guangdong Provincial Committee of the ChinesePeople's Political Consultative Conference and Party secretary of GuangzhouWang Rong, Deputy Director of the CPPCC Hong Kong, Macao and TaiwanOverseas Chinese CommitteeLien Sheng-wen, Vice Chairman of the KuomintangTang Bingquan, Director of the Sun Yat-sen FoundationStephen Tai Tak-fung, President of the Hong Kong Guangdong Chamber ofForeign Investors, Chief President of The Association of the Hong KongMembers of Guangdong's CPPCC CommitteesLi Juren, President of Macau Youth Entrepreneur AssociationDeng Daixian, Secretary General of Taiwan Straits Economic and CulturalInterchange AssociationAbout "Union of Chinese Contemporaries" — Summit of young entrepreneurs from Macao, Guangdong, Hong Kong and TaiwanThe aims of the "Union of Chinese Contemporaries" — Summit of young entrepreneurs from Macao, Guangdong, Hong Kong and Taiwan” are to implement General Secretary Xi Jinping’s important thoughts on Hong Kong, Macau, and Taiwan affairs, promote the great spirit of Mr. Sun Yat-sen’s "Rejuvenation of the Chinese Nation" and "the world is for the public," strengthen exchanges and cooperation among young entrepreneurs from both sides of the Taiwan Strait and the Hong Kong and Macau regions, foster the peaceful development of cross-strait relations, and ensure prosperity and stability in Hong Kong and Macau, and contribute to national strength and rejuvenation. It is jointly organized by the Sun Yat-sen Foundation, Guangdong Youth Federation, Friends of Hong Kong Association, Political Consultative Conference Members Friendship Associations in Hong Kong and Guangdong, Taiwan Straits Economic and Cultural Interchange Association, and Taiwan Elite Association, among others. Since its inaugural session in Taiwan in 2016, six sessions have taken place in Hong Kong, Macau, and Guangdong. More than 40 youth organizations and more than 2,600 young entrepreneurs from both sides of the Taiwan Strait and the Hong Kong and Macau regions have participated to date in the exchanges, establishing a platform for cooperation among young entrepreneurs. This year, the Mainland Affairs Council of Taiwan has again designated the event as a key project for national interchanges with Taiwan. Copyright 2024 ACN Newswire via SeaPRwire.com.

BANGKOK, Sept 12, 2024 - (ACN Newswire via SeaPRwire.com) - Petchsrivichai Enterprise PCL (SET: PCE), a leader in the integrated palm oil industry, today began trading on the Stock Exchange of Thailand (SET), highlighting the Company’s readiness as an integrated producer and distributor of palm oil products with a supply chain management system in place, to respond to customer needs as a One-Stop Service.The Company is also proceeding with the expansion of its palm oil extraction plant and palm olein production plat, taking advantage of the opportunity while the palm oil industry is expanding both domestically and in the export market, to create growth in a bid to become a leader in the palm oil industry at the national level.Mr. Prakit Prasitsupaphol, CEO & Managing Director of Petchsrivichai Enterprise PCL, announced that the Company began trading PCE shares on the SET today, September 12, in the Agro & Food Industry Group, Agribusiness Sector, under the abbreviation PCE. This followed the successful IPO of 750 million common shares for 2.28 baht per share. At the IPO, PCE shares received overwhelming interest from investors, reflecting confidence in the Company’s integrated palm oil business. In so doing, they helped to make PEC one of the stocks that attracted keen interest from investors from the first day of trading.PCE has set its growth strategy to become a leader in the integrated palm oil industry at the national level through 1. Being a leader in the integrated palm oil industry with full management readiness of the supply chain system, as group companies possess combined production processes for palm oil products from upstream to downstream, warehousing and port services, as well as the modern transportation processes to meet customer needs in the form of “One-Stop Service”, with nearly 40 years of direct experience in the industry; 2. The group’s location is in Surat Thani Province, an ideally strategic area for raw material sourcing and being close to customers and seaports; 3. The group’s production processes and quality control have been certified by international standards.The Company plans to use the funds raised in the SET to invest in the expansion of a crude palm oil extraction plant, doubling the production capacity from the current 60 tons of fresh palm fruits per hour, along with increasing the stability of the supply of raw material and crude palm oil supply for further refining processes, as well as investing in machinery and equipment to double the production capacity of palm olein for consumption from the current 300 tons per day. The Company’s two production plants were already operating at 80-90% of installed production capacity. Moreover, the fund will also be used to improve the efficiency of the production process, to expand the market in all sectors both domestically and in the export markets, and to invest in technology that will apply to research and further development, to add value to products and create opportunities in new markets in the future.As for the operating results for 2021 to 2023, the total revenues were 28,178.54 million baht, 32,696.15 million baht, and 24,722.79 million baht, respectively, while the net profits were 847.33 million baht and 214.40 million baht, and 330.50 million baht, respectively. For the first six months of 2024, the group had a total revenue of 12,921.47 million baht and a net profit of 211.97 million baht, similar to those of the same period of the previous year. In 2023, the group’s main revenue was derived from the palm oil industry at 98.61%, with the sales proportion of 63.67% for the domestic market and 36.33% for the international market.Mr Somsak Sirichainarumitr, CEO of Asset Pro Management Co Ltd (APM), as a financial advisor, said PCE is considered the first fully integrated palm oil industry leader to list on the SET and has the potential to grow in line with the expansion of the palm oil industry, spurred on by growing purchasing power in both domestic and international markets, for consumption or applications, by the renewable energy groups where demand is continuously increasing, and in the use of oleochemicals as ingredients in products such as cosmetics, soaps, skin care creams, etc., following the recovery of the domestic and global economies. They are also applicable to the biodiesel industry.Ms. Nalyne Viriyasathien, Managing Director, Investment Banking and Advisory of Maybank Securities (Thailand) PCL, as Joint Lead Underwriter, said PCE’s IPO offering of 750 million shares at 2.28 baht per share, or 1,710 million baht, was enthusiastically received by both retail and institutional investors. This was because investors were confident in the business potential of PCE, a leader in the palm oil industry with high growth potential. They also believed PCE would be another quality stock for investors in the Thai capital market.Mr. Payupat Mahabhol, managing director of investment banking at Yuanta Securities (Thailand) Co Ltd and joint lead underwriter, said that he was confident that PCE would be a growth stock that would generate good returns for investors. The company’s strength as a leader in the integrated palm oil industry and its ability to manage the supply chain system that provides customers with a one-stop service can help reduce extraneous costs. Therefore, for PCE as an enterprise with strong business partnerships, this fundraising will help strengthen its capital, which will be used to expand the business and further the Company’s growth according to its business plan.Released by Public Relations Dept., MT Multimedia Co., Ltd. for Petchsrivichai Enterprise Plc.For more information, please contact: Thiyaporn “Dah” SriadunphanTel. +66 (0) 87 556 6974; Email: thiyaporn.s@mtmultimedia.comPetchsrivichai Enterprise PCL [SET: PCE; PCE/F; PCE/R] https://pce-th.com/ Copyright 2024 ACN Newswire via SeaPRwire.com.