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Computime Announces FY23/24 Annual Results

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2 years 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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De¹ Introduces Tokenized Asset World on BNB Chain, Developing Financial Intelligence Across the Full RWA Financial Landscape

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48 minutes ago

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October 19, 2026

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NEW YORK, Oct. 19, 2026 /PRNewswire/ — De¹ is launching Tokenized Asset World on BNB Chain, the first domain-specific world under its Financial World Model (FWM). It introduces specialized financial intelligence designed to understand the full onchain RWA landscape, from trading and collateral to borrowing, credit, liquidation and agent activity, and apply that knowledge to real financial decisions.

Traditional finance moves assets through separate networks of brokers, custodians, clearing systems and lenders. Each institution sees a different part of the lifecycle, while transfers, reconciliation and collateral requirements add friction to capital deployment. Bringing assets onchain makes financial activity more programmable, but it does not automatically connect the knowledge held across trading, financing and risk systems.

De¹ is establishing Tokenized Asset World on BNB Chain, where that real-assets financial ecosystem already unfolds in live markets. PancakeSwap, ListaDAO, Venus, Binance Agent OS and BNB Agent SDK span public trading, collateralized lending, structured credit and authorized agent activity. These activities produce distinct signals: executed prices, liabilities, vault constraints, liquidations and the outcomes of agent actions.

Tokenized Asset World brings fragmented financial knowledge into a coherent, learnable model of the full RWA landscape. The domain model is designed to understand the relationships and consequences across financial operations, with verified execution outcomes continuously refining De¹’s understanding of onchain financial physics. This introduces a new layer of intelligence to BNB Chain, enabling a more complete understanding of the tokenized-asset stack across trading, collateral, credit, vaults and agent activity.

AI agents can tap into this intelligence to operate across tokenized-asset markets with a more comprehensive view of liquidity, borrowing conditions, collateral exposure and liquidation risk as a whole. This deeper market understanding could raise more sophisticated strategies, execution and risk decisions. Each agent interaction, in turn, generates new evidence for the model, creating a continuous feedback loop between financial intelligence and live market execution while strengthening De¹’s broader Financial World Model.

About De¹

De¹ is the intelligent infrastructure platform at the intersection of DeFi and AI, building the Financial World Model grounded in live execution and real market feedback. It serves developers, traders, institutions, and AI agents through intelligent execution, unified liquidity, reinforcement learning optimization, and a continuously evolving data flywheel.

Contact: Marketing, pr@de1.ai

View original content:https://www.prnewswire.co.uk/news-releases/de-introduces-tokenized-asset-world-on-bnb-chain-developing-financial-intelligence-across-the-full-rwa-financial-landscape-302912966.html

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Plata reaches $1 Billion ARR Milestone, becoming the fastest digital bank ever

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48 minutes ago

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October 19, 2026

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The Mexico based digital bank shatters traditional digital banking scaling timelines, reaching a $1 Billion Annual Recurring Revenue  in less than 3.5 years from launch

MEXICO CITY, Oct. 19, 2026 /PRNewswire/ — Plata, the world’s fastest growing digital financial institution, today announced that in September 2026 it has crossed $1 billion in Annual Recurring Revenue (ARR), reaching the milestone in less than 3.5 years from launch in April 2023 and less than a year after receiving its full banking license. Plata´s growth makes it the fastest digital bank in history to reach this benchmark, and puts it on par with some of the world’s fastest growing leading AI companies, underlining Plata’s own AI and tech capabilities.

Plata reaches this goal after having reached more than 4 million customers in Mexico and having launched operations in Colombia at the beginning of September. In Mexico, Plata is now the fourth credit card issuer in the country by number of customers, and the only digital bank with a full product suite including credit, debit, investments, and small business banking. Plata’s growth is also nearing profitability, which is expected to be reached for its Mexico business within the next 6 months.

Plata changed the rules by building a universal financial platform powered by its own technology from day one. By setting up its core banking system, the company proved that regulated financial institutions can scale at AI-like speed without undermining operating performance.

“By building our own technology from scratch, we proved that a bank can move at AI company speed without compromising anything. Now we are ready to accelerate our innovation, make finance effortless and accessible for everyone.” Neri Tollardo, CEO of Plata.

As digital adoption accelerates across Latin America, Plata´s performance sets a new benchmark for financial infrastructure scaling, financial adoption, and operational efficiency in emerging markets.

About Plata

Plata is the fastest-growing financial institution in Latin America and the largest private digital bank by customer volume. In less than three years, we reached a valuation of $3.1 billion with 4 million active credit card customers and crossed $1 billion in Annual Recurring Revenue (ARR). Backed by $1.5 billion in equity investment, 1.5 in financing, and a workforce that includes 800 in-house developers, in Banco Plata we have built our own technological ecosystem, which includes a core banking system, CRM, and an app focused on simplifying the financial experience.

View original content:https://www.prnewswire.com/news-releases/plata-reaches-1-billion-arr-milestone-becoming-the-fastest-digital-bank-ever-302912970.html

SOURCE Plata

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Trends International Announces Kenneth Smith as President and Chief Executive Officer

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48 minutes ago

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October 19, 2026

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Experienced executive to lead company’s next phase of retail, digital commerce and strategic growth

INDIANAPOLIS, Oct. 19, 2026 /PRNewswire/ — Trends International, LLC, a leading publisher and manufacturer of licensed posters, calendars, stickers, wall art and social stationery products, today announced that Kenneth Smith has been appointed President and Chief Executive Officer, effective May 2026.

Smith will spearhead the company’s overall strategic direction and growth initiatives across its retail, wholesale, e-commerce, licensing and direct-to-consumer businesses. In his role, Smith will oversee Trends International and its portfolio of digital businesses, including Art.com and AllPosters.com.

Smith’s appointment comes as Trends International enters a new phase of expansion focused on broadening its retail presence, accelerating e-commerce, strengthening strategic customer relationships, developing new products and licenses, and pursuing partnerships and business opportunities.

“I am honored to lead Trends International and build on the strong foundation established by the company, its founders and its talented employees,” said Kenneth Smith, “We have an exceptional portfolio of brands, licenses, products and customer relationships, and we see significant opportunities to grow the business. Our focus will be on strengthening our retail partnerships, accelerating our digital businesses, developing innovative products and creating new strategic opportunities that deliver value for our customers, consumers, licensors and partners.”

Expanding Retail and Digital Footprint
Under Smith’s leadership, Trends International will continue to invest in its core retail business while broadening its digital commerce capabilities.

The company is focused on deepening relationships with major retailers, expanding distribution, improving merchandising, and developing new product platforms designed to create incremental sales opportunities.

Trends will also continue to build Trends Digital, bringing together the company’s e-commerce capabilities and creating a platform for future digital growth and potential e-commerce acquisitions.

The company’s digital portfolio includes Art.com and AllPosters.com, providing consumers with access to millions of images, posters, prints, wall art, and complementary décor.

“Trends has a tremendous opportunity to build upon its heritage while positioning the company for the future,” Smith said. “We are focused on growth, but equally important is how we achieve that growth — through strong customer partnerships, disciplined execution, innovation and a culture that empowers our people to succeed.”

Strategic Priorities
Smith’s leadership agenda includes several key areas of focus:

Retail growth — Expand relationships and sales with major national retailers and specialty channels.Product innovation — Develop new product formats, displays and seasonal programs that create incremental retail opportunities.Digital commerce — Accelerate the growth of Trends Digital, Art.com and AllPosters.com.Strategic partnerships — Forge new licensing, brand and business partnerships that expand the company’s market opportunity.Operational excellence — Improve organizational alignment, processes, technology, and execution across the company’s businesses.Talent and culture — Build a high-performing organization focused on accountability, innovation, customer service and sustainable growth.

“Kenneth brings a strong combination of leadership, customer focus and business development experience to Trends International,” said Phil St. Jean, Founder and Co-Executive Chairman of Trends International. “His vision for the company and his commitment to our customers, employees and partners make him the right leader for this next chapter. We are excited about what the future holds for Trends International and its businesses.”

About Kenneth Smith
Kenneth Smith is an experienced business executive with a background in sales leadership, strategic account development, business development, customer relationships, and organizational transformation. Throughout his career, Smith has focused on developing strategic growth initiatives, building high-performing teams, and creating long-term partnerships with major customers and business partners.

As president and chief executive officer of Trends International, Smith is responsible for the company’s overall strategy, growth, organizational leadership and business performance.

About Trends International
Trends International, LLC is a leading publisher and manufacturer of licensed posters, calendars, stickers, wall art and social stationery products. Established in 1987, Trends built its business around strong partnerships between licensors, retailers and licensees. Today, the company delivers a broad portfolio of licensed and proprietary products distributed through major retail, specialty, and digital channels.

Art.com, acquired by Trends International in 2023, is a leading online specialty retailer of high-quality wall art and complementary décor. The business offers millions of images and products through its digital commerce platform and interactive visualization tools.

AllPosters.com, part of the Trends International family of businesses, offers consumers a broad selection of posters, prints and wall décor.

For more information about Trends International, Art.com, AllPosters.com or Kenneth Smith, contact:

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SOURCE Trends International

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