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Computime Announces FY23/24 Annual Results

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11 months ago

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Profit After Tax Recorded a 5-year-high at HK$83.9 Million

EBITDA Increased by 41.9% to HK$340.9 Million

The Board Proposes a Final Dividend of HK$0.05 

Financial Highlights

For the year ended 31 March

FY2024
HK$ million

FY2023
HK$ million

Year-on-Year (“YoY”)

Change

Revenue

4,037.8

4,204.8

(4.0 %)

Gross profit

631.1

508.8

24.0 %

EBITDA(Note1)

340.9

240.2

41.9 %

Profit after tax

83.9

23.5

257.0 %

Proposed final dividend

HK$0.050

HK$0.021

138.1 %

Note 1: Earnings before interest, taxes, depreciation and amortisation (“EBITDA”)

HONG KONG, June 28, 2024 /PRNewswire/ — A leading technology, brand, and manufacturing company and an enabler of smart and sustainable living, Computime Group Limited (the “Company” or “Computime”, together with its subsidiaries, collectively the “Group”; stock code: 320.HK) is pleased to announce its annual results for the year ended 31 March 2024 (the “Year” or “FY23/24” or “FY2024”). As the Group marks its 50th anniversary, we continue to demonstrate resilience and strategic foresight in the complex global landscape.

Results overview

The Group reported the revenue of HK$4,037.8 million for FY2024, a decrease of 4.0% from HK$4,204.8 million for the Year ended 31 March 2023 (“FY2023”), due to soft demand in the housing-related market and recession concerns in the Europe and North America. Despite the revenue decline, the gross profit margin improved to 15.6% in FY2024 from 13.4%[1] in FY2023, driven by enhanced operational efficiency, effective material management and favorable exchange rate environment.

The profit before tax increased by 242.7% to HK$107.6 million from HK$31.4 million in FY2023, while the profit after tax is reaching HK$83.9 million, representing 3 times of the profit after tax for FY2023 at HK$23.5 million. Additionally, the adjusted EBITDA[2] was recorded at HK$333.9 million, reflecting a 13.2% growth from HK$295.0 million in FY2023.

The Group’s cash and bank balances were HK$226.7 million as at 31 March 2024, while the net cash improved to HK$90.3 million as at 31 March 2024 from HK$84.3 as at 31 March 2023. The inventory balance decreased by 15.0% to HK$824.0 million, indicating better operational efficiency and material management.

Segment Review

The Control Solutions segment saw a revenue drop from HK$3,665.7 million in FY2023 to HK$3,601.0 million, a 1.8% YoY decrease due to weakened market demand and reduced consumer confidence. Despite the drop in revenue, profit margins improved significantly, driven by stable demand from long-term customer partnerships and integrated technology and manufacturing collaborations. Moving forward, the Group will implement a globalization strategy with a “region-to-region” approach, collaborating with customers to launch innovative product platforms. These efforts to foster strong customer relationships, expand our global footprint, and enhance operational productivity position the Control Solutions segment well to navigate market fluctuations and sustain profitability.

The Branded Business segment reported a revenue of HK$436.8 million for FY2024, a 19.0% decrease from FY2023, due to challenging market conditions and customer destocking. Despite these challenges, the Branded Business segment is poised for growth through strategic initiatives. We are expanding into Eastern Europe with a dedicated sales team and launching new platforms including Electric Vehicle chargers (“EVCs”), home battery storage solutions, Artificial Intelligence (“AI”)-driven climate control systems, Matter-compatible thermostats, and ultra-quiet Thermostatic Radiator Valves (“TRVs”). A major focus is the Salus Protect security service, targeting the security industry and enhancing our smart home offerings in the European market. Partnering with Securitas, it includes security hardware, smart home devices, and monitoring services under the brands Immunity and Merlin. Additionally, a new centralized warehouse in Poland will boost logistics and distribution efficiency, supporting regional growth.

Research and development (“R&D”)

Computime’s global R&D team of 200 engineers drives innovation across the Centers of Excellence in Mainland China, Hong Kong, the United States (“US”), Romania, and the United Kingdom (“UK”). Our commitment to technological advancement is reinforced through strategic partnerships and ownership in engineering firms, focusing on cloud technology. Collaboration among engineers in Hong Kong, Mainland China, and India enhances scalability and interoperability, leveraging diverse expertise to maintain our competitive edge in intelligent product development.

Outlook

Computime is leveraging AI and sustainability to drive a new era of expansion. With a global R&D team of 200 engineers and over 200 patents, we focus on energy and water management, using AI for significant efficiency gains. Amid the COVID-19 pandemic, Computime adopted a region-to-region model, establishing manufacturing hubs in Malaysia, Vietnam, Mexico and Romania to enhance supply chain resilience and meet rising demand in the US and European markets. The Group’s Branded Business segment anticipates increasing demand in 2024, with plans to expand our Salus smart home product line. Financial strategies include tighter expense control, a headcount freeze, and improved material efficiency, aiming to boost profitability and cash reserves. Computime remains dedicated to leading in smart and sustainable living technologies, adhering to Matter standards for enhanced interoperability and user experience.

Mr. Bernard AUYANG, Chairman, Executive Director and Chief Executive Officer of Computime Group, commented, “As Computime celebrates its 50th anniversary, we reflect on our journey marked by innovation, resilience, and significant achievements. Our evolution from humble beginnings to a global leader in smart and sustainable living is a testament to our entrepreneurial spirit and unwavering determination. Looking ahead, we are committed to driving positive change through cutting-edge technologies and sustainable practices. Our vision is to democratize smart living, empowering communities worldwide to lead more connected, efficient, and environmentally conscious lives. With a steadfast commitment to excellence, integrity, and social responsibility, we are ready to shape the future for generations to come.”

[1] Excluding the specific inventory provision for Malaysia

[2] Excluding one-off gain on valuation of HK$7.0 million in the current year and the additional inventory provision for the Group’s Malaysia operation of HK$54.9 million in last year

View original content:https://www.prnewswire.com/apac/news-releases/computime-announces-fy2324-annual-results-302185500.html

SOURCE Computime Group Limited

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Tencent Cloud and Vector Group’s Offshore Company Launch Japan’s First AI Avatar Video Generation Service “AvaMo”

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10 minutes ago

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May 13, 2025

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Collaboration aims to revolutionize video production of advertisements in Japan

TOKYO, May 13, 2025 /PRNewswire/ — Tencent Cloud, the cloud business of global technology company Tencent, and Offshore Company, a subsidiary of PR firm Vector Group, which ranks sixth globally and first in Asia[1], today proudly announced the launch of “AvaMo,” Japan’s first AI-powered avatar video generation service specifically designed for the Japanese market[2]. Powered by Tencent Cloud’s advanced digital human creation technology, AvaMo enables the quick creation of professional-quality videos, dramatically reducing both production time and costs by up to 98%[3]—a true game changer for producing video advertisements.

“AvaMo” is an AI video generation service developed by Offshore Company with technology provided by Tencent Cloud. The name “AvaMo” combines the words “Avatar” and “Motion/Movie,” representing its ability to create high-quality videos featuring AI avatars with natural movements. The service is versatile, catering to a wide range of use cases, including advertising, customer support, and educational content.

Addressing the Needs of a Rapidly Growing Market

The global AI video generation market has been rapidly expanding, with projections estimating its value at $4.1 billion (approx. ¥582.2 billion) in 2024 and $62.8 billion (approx. ¥8.93 trillion) by 2034, growing at a compound annual rate of 31.38%[4]. However, in Japan, AI-generated video and voice technologies are still in their infancy, with most applications focused on text and image generation. Comprehensive commercial use of AI in video production remains limited.

While global services like “Synthesia” and “HeyGen” have gained traction, Japan lacks services optimized for the domestic market, particularly in terms of Japanese-language support, avatar designs tailored for Japanese audiences, and user-friendly interfaces. AvaMo fills this gap, offering a solution tailored for Japanese users—with Japanese avatars, voiceovers, and an intuitive UI—while also supporting multilingual and global business needs.

Revolutionizing Video Production with AvaMo

Conventional video production involves multiple steps: planning, scripting, storyboarding, filming, and editing—often taking weeks to months and incurring significant costs. AvaMo simplifies this process by integrating templates, AI avatars, and natural text-to-speech (TTS) technology, allowing users to create professional-quality videos with just a few clicks. Powered by Tencent Cloud’s AI-driven digital human creation technology and Offshore Company’s intuitive interface, AvaMo makes video production more accessible to enterprises in Japan.

Key Features of AvaMo:

UI/UX Design Optimized for Japanese MarketTemplates, audio, and avatar expressions are fine-tuned for Japanese users.AI voice technology reproduces authentic Japanese intonation.Avatar models reflect Japanese corporate culture and lifestyle nuances.Beginner-Friendly, Automated WorkflowAI handles scenario creation, casting, filming support, and audio recording.Simple, click-based interface allows users with no prior experience to create compelling videos.Realistic Digital Human (Avatar) GenerationAdvanced AI generates lifelike avatars with nuanced facial expressions, lip-sync, and gestures.Avatars are created from short video samples (1–3 minutes), ensuring high-fidelity and real-time responsiveness.Versatile Templates and Custom AvatarsWide range of templates for advertising, branding, product demos, manuals, and more.Supports vertical video formats for TikTok, Instagram Reels, and YouTube Shorts.Over 120 avatar types available, with options for custom avatars[5] using personal face and voice data.Multilingual SupportTTS supports English, Chinese, Korean, and more than ten other languages, facilitating cross-border campaigns.Prevention of AI misuse and Privacy ProtectionStrict adherence to ethical and legal standards, including user consent and dual-layer content moderation (AI + human review).Proactive measures against misuse, including account suspension and reporting to authorities for serious violations.Industry-Leading SecurityOffshore Company is certified for ISMS (ISO27001), ensuring robust data privacy and information security for all clients.

Hanson Liu, Head of Tencent Cloud Japan, said, “We are excited to partner with Offshore Company in transforming Japan’s digital advertising industry. AvaMo leverages Tencent Cloud’s AI technology to simplify the creation of high-quality advertising content, enhancing customer engagement and optimizing marketing strategies for businesses.”

Kenta Noro, Representative Director of Offshore Company Co., Ltd. and CTO of Vector Group, said, “We are honored to launch this innovative AI video generation service for the Japanese market in collaboration with Tencent Cloud. There is a strong demand for intuitive, practical AI video tools tailored for Japan, and AvaMo delivers exactly that. By democratizing access to high-quality video production, we aim to empower more companies and individuals to harness the potential of AI, while leveraging the extensive PR and marketing expertise of Vector Group.”

[1] According to PRovoke Media’s “Global Top 250 PR Agency Ranking 2024,” Vector Inc. ranked 1st in Asia and 6th among global PR agencies in terms of global revenue.

[2] As of April 2025, according to Vector Inc.’s research based on a web survey of 10 major video generation AI services, AvaMo is the first commercial video generation service to support a Japanese user interface, Japanese avatars, and Japanese audio.

[3] Estimation: A comparison of conventional 30-second video production (12 hours, approximately 120,000 yen) and video generation by AvaMo (15 minutes, approximately 2,400 yen) as of April 2025.

[4] Source: Market Research Future “AI Video AI-video Generator Market Research Report“

[5] Only available for paid plans.

About Tencent Cloud:

Tencent Cloud, one of the world’s leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT, and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation.

About Offshore Company:

Offshore Company is a technology solutions provider specializing in AI and system development. Led by Vector Group CTO, Mr. Kenta Noro, the company brings together a team of over 1,000 engineers both in Japan and overseas, including highly experienced project managers with a strong track record in the financial industry. Offshore Company delivers high-quality, cost-effective solutions to address a wide range of development challenges faced by businesses. Leveraging its in-house expertise in AI model development, the company also offers cutting-edge AI services such as “AI Video Translator” and “AI Vertical Video,” supporting client companies in unlocking new business opportunities through advanced technology.

*According to PR Week Global Agency Business Report 2023.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/tencent-cloud-and-vector-groups-offshore-company-launch-japans-first-ai-avatar-video-generation-service-avamo-302453168.html

SOURCE Tencent Cloud

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Trinasolar Powers Landmark 40 MW Northern Philippine Solar Project by PetroGreen

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10 minutes ago

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May 13, 2025

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MANILA, Philippines, May 13, 2025 /PRNewswire/ — Trinasolar, a global smart PV and energy storage solutions provider, has supplied 52,000 of its n-type i-TOPCon Vertex N 710-715W (NEG21C.20) modules for the Limbauan Solar Power Project (LSPP), a 40-megawatt direct current (MWdc) solar facility in San Pablo, Isabela, Philippines. Developed by BKS Green Energy Corporation (BKS), a subsidiary of Rizal Green Energy Corporation (RGEC), a joint venture between PetroGreen Energy Corporation (PGEC) and Japan’s TAISEI Corporation, the project aims to bolster Luzon grid’s renewable energy supply.

LSPP is projected to generate approximately 59 gigawatt-hours (GWh) of clean energy annually, sufficient to power around 33,000 households and reduce carbon dioxide emissions by about 31,700 metric tons. This initiative marks a significant step towards enhancing Philippines’ renewable energy infrastructure and promoting sustainable development.

The project is divided into two phases: a 6 MWdc Phase 1 connecting to the Isabela Electric Cooperative-II (ISELCO-II) system, and a 34 MWdc Phase 2 connecting to the National Grid Corporation of the Philippines’ (NGCP) 69 kV Tuguegarao-Cabagan line via a 4.73 km dedicated transmission facility.

Beyond supplying high-efficiency and high-power modules, Trinasolar actively contributed to the project’s success by providing training programs aimed at upskilling local talent. This initiative aligns with the project’s goal of employing approximately 500-600 workers at the peak of construction, fostering economic growth in the Cagayan Valley region.

Maria Victoria M. Olivar, PGEC Vice President for Business Development and Commercial Operations said, “We are thrilled to officially begin the installation of LSPP’s PV panels in the presence of our various stakeholders – private and public – especially local government officials of our host communities who are strong supporters of PetroGreen’s first investment in Region 2.”

Atty. Angelynn C. Salazar conveyed a message from Isabela Governor Rodolfo T. Albano III saying, “The project also serves as a powerful reminder of what can be achieved when government, private sectors, and local communities work together toward a common goal.”

Elva Wang, Trinasolar’s Group Director for Southeast Asia said, “Philippines boasts immense potential to harness solar energy to meet its rising energy demands. By integrating our Vertex N modules, featuring cutting-edge n-type i-TOPCon technology, into the LSPP, we are delivering exceptional efficiency and energy output. Building upon our successful partnership, including the 117MW supply agreement signed in April 2024, we are committed to supporting PetroGreen in accelerating the adoption of clean energy solutions across the nation.”

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/trinasolar-powers-landmark-40-mw-northern-philippine-solar-project-by-petrogreen-302450950.html

SOURCE Trina Solar Energy Development Pte. Ltd.

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NeosLegal Launches Founder’s Guide to UAE Crypto Laws: A First-of-Its-Kind Legal Resource for Crypto and Web3 Founders

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10 minutes ago

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May 13, 2025

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The UAE’s crypto laws decoded for founders – clear, practical, actionableOfficially launched at VC<>Startup Connect by Cointelegraph, with 1,700+ industry leadersBuilt by experts. Updated in real-time. Made for Web3 builders

DUBAI, UAE, May 12, 2025 /PRNewswire/ — NeosLegal, the UAE’s first crypto-native law firm, has launched the Founder’s Guide to UAE Crypto Laws — the first and only comprehensive legal guide created specifically for founders seeking to establish and scale their ventures in the UAE.

The guide debuted on April 14 during a dedicated policy and regulation event hosted by Solana’s Superteam in Dubai. Shared with 300+ Web3 founders and UAE policymakers, the early release marked the beginning of what is now positioned as the go-to legal reference for entrepreneurs entering the region.

The official launch took place on May 2 at VC<>Startup Connect: Dubai Edition, hosted by Cointelegraph Accelerator, DMCC, and NewTribe Capital, where over 1,700 guests received their exclusive copy of the guide.

In total, more than 2,700 founders pre-registered to receive a copy — a clear signal of the demand for practical legal clarity in the region’s complex regulatory landscape.

Launching at a Pivotal Moment for Crypto Regulation

As global interest in the UAE’s crypto ecosystem surges, this guide arrives at a critical inflection point. With evolving VASP frameworks, new institutional players entering the region, and regulators increasingly opening doors to innovation, founders can no longer rely on outdated or ambiguous advice. This guide was created to meet that need.

Trusted by Founders and Investors Worldwide. Supported by Regulators and Authorities.

While the UAE is widely regarded as one of the most progressive jurisdictions for virtual assets, its regulatory framework spans multiple authorities, each with specific mandates. These include the UAE Central Bank, the Securities and Commodities Authority (SCA), Abu Dhabi Global Market (ADGM), Dubai International Financial Centre (DIFC), and Dubai’s Virtual Assets Regulatory Authority (VARA).

For founders entering the market, understanding how these regulators operate, what their licensing paths involve, and how different economic zones compare is critical to making informed decisions.

Written in plain, founder-friendly language and updated in real time as new laws and regulations are introduced, the guide reflects the knowledge accumulated by NeosLegal over more than a decade of practice in crypto law and 300+ Web3 project engagements. It is a living online resource — not a static document — and will continue to grow in relevance as the UAE solidifies its position as a global crypto capital.

What the Guide Includes?

Unlike static legal PDFs, this is a digital guide that evolves alongside the UAE’s regulatory landscape. It includes:

Jurisdiction and entity structuring options for crypto projects in the UAEVASP licensing requirements and ongoing compliance obligationsLegal frameworks for fundraising and investor readinessOverview of UAE venture capital hubs and financial free zonesKey tax, IP, and regulatory considerations for Web3 business modelsExpert commentary, practical checklists, and founder-focused tools

The guide features contributions from leading voices across the UAE crypto ecosystem — including regulators, VCs, ecosystem builders, and legal innovators actively shaping the future of Web3.

Authored by the UAE’s Top Crypto Legal Team

The guide is led by Irina Heaver, Managing Partner at NeosLegal and one of the most recognized crypto lawyers in the Middle East. With over 18 years in the UAE and more than 300 crypto projects advised, Irina and her team have distilled years of hands-on regulatory experience into a single, practical resource that founders can actually use.

“Too many founders lose time and money navigating noise — wrong jurisdictions, missed VASP obligations, and unclear compliance paths,” said Irina Heaver. “This guide cuts through it all, offering a living, practical resource built for real-world decisions.”

The Founder’s Guide to UAE Crypto Laws is available for free download at: https://neoslegal.co/founders-guide-to-uae-crypto-laws-2025-edition

For more information or for media inquiries and interviews, pls connect with:

Katerina Pyshko: katerina.pyshko@neoslegal.co
Or
Ola Rajeh: Ola@unlock-bc.com

Photo – https://mma.prnewswire.com/media/2685030/Irina_ManagingPartner_NeosLegal.jpg

View original content:https://www.prnewswire.co.uk/news-releases/neoslegal-launches-founders-guide-to-uae-crypto-laws-a-first-of-its-kind-legal-resource-for-crypto-and-web3-founders-302452859.html

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