Artificial Organs Market is Expected to Develop at a Stellar 7.68% CAGR through 2031 | SkyQuest Technology
Westford, USA, Nov. 25, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the artificial organs market size will attain a value of USD 86.46 billion by 2031, with a CAGR of 7.68% over the forecast period (2024-2031). Surging demand for organ transplants owing to the high incidence of chronic diseases and shortage of organ donors are slated to drive artificial organs market growth. Advancements in medical technologies and use of 3D printing technologies are expected to create new opportunities for artificial organs companies.
Browse in-depth TOC on “Artificial Organs Market”
- Pages – 182
- Tables – 97
- Figures – 76
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Artificial Organs Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 47.83 Billion |
| Estimated Value by 2031 | $ 86.46 Billion |
| Growth Rate | Poised to grow at a CAGR of 7.68% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Material Type, Technology, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | High demand for organ transplants |
| Key Market Opportunities | Use of 3D bioprinting technology and bioengineered tissues |
| Key Market Drivers | Shortage of donors and advancements in medical technologies |
Low Costs of Mechanical Technology Make it the Dominant Segment for Artificial organs Companies
High reliability, low risk of failure, and affordable nature are the top benefits of mechanical artificial organs allowing them to dominate the global artificial organs industry. Moreover, the high availability of better reimbursement policies for mechanical artificial organs and faster approvals from regulatory bodies are expected to create new opportunities for artificial organ companies targeting this segment going forward.
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High Emphasis on Improving Quality of Life for Trauma Patients is Boosting Demand for Artificial Bionics
Artificial bionics are bionic devices that not only recreate the physical structure of an organ but also enhance the sensitivity of organs. These devices are being used extensively for trauma patients faced with severe disability issues as the incidence of accidents and trauma cases rises globally. High demand for cochlear implants, vision, exoskeleton, limb, and brain bionics are slated to bolster the global artificial organs market outlook via this segment.
High Number of Surgical Transplant Procedures Help North America Lead Sales of Artificial Organs
The presence of a developed healthcare infrastructure, growing geriatric population, and high availability of favorable reimbursement are key factors helping the dominance of North America. Surging investments in medical R&D are also expected to create new opportunities for artificial organ providers. The United States and Canada are estimated to lead revenue generation and help North America hold a prominent artificial organs market share.
Artificial Organs Market Insights:
Drivers
- Growing demand for organ transplants
- High incidence of chronic diseases resulting in organ failure
- Advancements in medical technologies
Restraints
- High costs of prosthetics and surgeries
- Risk of rejection among certain patients
- Post-operation complications and risk of infections
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Prominent Players in Artificial Organs Market
- Edwards Lifesciences Corporation
- Cochlear Limited
- Zimmer Biomet Holding Inc.
- Jarvik Heart, Inc.
- Boston Scientific Corporation
- Berlin Heart GmbH
- SynCardia Systems LLC
- CARMAT
- BiVACOR Inc.
- AWAK Technologies
- Wearable Artificial Organs, Inc.
- Medtronic Plc
- ALung Technologies, Inc.
- Fresenius Medical Care
- Johnson & Johnson
- TransMedics, Inc
- Abott
Key Questions Answered in Artificial Organs Market Report
- Who are the top companies in the artificial organs industry?
- Why are sales of artificial organs rising rapidly?
- Which is the largest regional market as per this artificial organ market forecast?
- What are the key restraints for artificial organ companies?
Read Artificial Organs Industry Report Today – https://www.skyquestt.com/report/artificial-organs-market
This report provides the following insights:
Analysis of key drivers (high demand for organ transplants, advancements in medical technologies), restraints (risk of failure and rejection, high costs of prosthetics and surgeries), and opportunities (use of 3D bioprinting technologies and bioengineered tissues) influencing the growth of artificial organs market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the artificial organs market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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Skyquest Technology
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Guyana's pick of new US startup faces hurdles to tap vast gas reserves
By Curtis Williams and Kemol King
HOUSTON/GEORGETOWN (Reuters) – Doubts are growing over Guyana’s pick of a little-known U.S. startup to craft and develop projects to monetize its vast untapped natural gas resources that could cost up to $30 billion. Year-old Fulcrum LNG faces financing hurdles that could derail its selection. Ultimately, the South American nation may end up relying on a consortium led by Exxon Mobil, which controls all the production in the new energy hotspot. So far the top U.S. oil producer has focused on oil.
Guyana has been pressing Exxon to come up with a plan to convert its about 16 trillion cubic feet of gas reserves into valuable exports such as liquefied natural gas (LNG), or relinquish areas where gas has been discovered so they can be developed by others.
When Fulcrum was chosen in June, its founder and former Exxon executive Jesus Bronchalo said on LinkedIn he was “delighted and honored” to be selected “to design, finance, construct and operate the required gas infrastructure.”
Since then, Fulcrum has not identified any financial backers, casting doubt over its ability to pull off the work, and leading government officials to now describe its selection as tentative. “No project has been awarded to anyone. We’re in an exploratory phase,” Guyana’s Vice President Bharrat Jagdeo told Reuters last month. That is a change from the ministry of finance’s description of the awarding of the contract as among its economic achievements this year. Guyana’s president, who announced the award, said an agreement, that may or may not include Exxon, was expected next year.
Meanwhile, the opposition People’s National Congress party is skeptical about the award.
Fulcrum LNG “lacks requisite experience and a demonstrated ability to raise the type of multi-billion dollar finances required,” said Elson Low, an economist and advisor to the PNC.
FULCRUM’S LEVERAGE
Guyana picked Nevada-registered Fulcrum LNG, which it said offered “the most comprehensive and technically sound proposal,” among the 17 bidders, including China’s third-largest oil firm CNOOC, U.S. gas pipeline giant Energy Transfer, and the No. 4 U.S. LNG exporter Venture Global LNG.
Ira Joseph, an LNG market expert and senior researcher at Columbia University’s Center on Global Energy Policy, said it would be “very difficult” for a startup to raise the financing for a multi-billion-dollar infrastructure project. “Why isn’t Exxon building the LNG plant itself? It is very hard to raise that kind of money to make a project work, (Guyana) would have to bring in one of the big players like TotalEnergies or Shell,” Joseph said.Besides pairing with U.S. oil service Baker Hughes and construction contractor McDermott, Fulcrum’s proposal would include financing from the U.S. Export-Import Bank and the participation of private equity firms and an environmental partner, the government said.
OHBA and EnerQuality Announce the Appointment of a New Interim Board of Directors
TORONTO, Nov. 25, 2024 (GLOBE NEWSWIRE) — The Ontario Home Builders’ Association (OHBA) and EnerQuality are pleased to announce the appointment of new interim board members for EnerQuality as it prepares for a growth phase. The new interim board members, who were appointed on November 20, 2024, are Gord Cooke – President of Building Knowledge, Brian Johnston – former CEO of CreateTO, and Peter Saturno – President of Midhaven Homes.
OHBA has been a proud shareholder of EnerQuality since it founded the company with the Canadian Energy Efficiency Alliance (CEEA) in 1998. After acquiring full ownership of EnerQuality in September 2024, OHBA has been positioning the company to lead its external education arm and deliver needed training to its members and industry at large.
“Part of my mission, when I took on the role of CEO at OHBA, was taking EnerQuality to the next level,” said Scott Andison, CEO of OHBA, “This marks another step in the journey for EnerQuality, which we hope will become a revenue generator for OHBA through its expanded training division and energy certification business.”
The new interim board appointments will advise OHBA on the scope and skills needed for the board going forward, including setting strategic direction and initiating the search for a new CEO. The future CEO of EnerQuality will be tasked with leading the company to become the foremost provider of professional training and education for the residential construction industry in Ontario, complementing its energy certification business.
As the leading certifier of energy-efficient homes in Canada, EnerQuality will continue to deliver its highly successful energy labelling program that includes certifications like ENERGY STAR® for new homes and multi-family, Net Zero and Net Zero Ready, EnerGuide, and R-2000, while expanding its training offerings.
“I’m looking forward to what our new interim board members will bring to the table as we move forward with our strategic vision for EnerQuality,” noted Rose Benedetto, Managing Director of EnerQuality. “We’ve built a highly successful third-party certification business, one that plays a key role in the residential construction sector in the province. It’s important that we continue to grow that business line at the same time as we develop our education and training division.”
EnerQuality will continue to work closely with OHBA and home builders in the province in pursuit of improving building and energy efficiency standards in the residential construction industry.
About the Ontario Home Builders’ Association
Founded in 1962, the Ontario Home Builders’ Association (OHBA) is the voice of the residential construction industry in Ontario. It represents over 4,000 member companies in the home building, land development, professional renovation, and professional services sectors through 28 local chapter associations across the province. OHBA advocates on behalf of its members to key stakeholders, provides member benefits and training, and promotes innovation and professionalism within the residential construction industry.
About EnerQuality
EnerQuality was founded in 1998 by the Ontario Home Builders’ Association (OHBA) and the Canadian Energy Efficiency Alliance (CEEA), with the goal of improving building and energy efficiency standards in the residential construction industry in Ontario. Through its training and certification programs, EnerQuality empowers the building industry to create a sustainable future by driving innovation, fostering education, and promoting collaborative partnerships. Since its founding, it has certified over 120,000 homes through its energy certification programs.
For any media inquiries, please contact:
Andres F. Ibarguen
Senior Manager, Communications
(416) 217-6790
aibarguen@ohba.ca
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Asia Mixed, Europe Markets Gain While Gold And Dollar Dip – Global Markets Today While US Slept
On Friday, November 22, U.S. markets closed higher, with all major indexes recording weekly gains. Optimism was driven by robust U.S. business activity and expectations of interest rate cuts.
However, tech faced pressure as Alphabet fell amid antitrust scrutiny, and Nvidia slipped following a cautious forecast. Investors also weighed geopolitical tensions, including Ukraine-Russia conflicts, and anticipated key developments, such as Trump’s Treasury Secretary selection.
According to economic data, the S&P Global U.S. Services PMI rose to 57 in November from 55, while Manufacturing PMI edged up to 48.8 from 48.5. However, U.S. consumer sentiment dropped to 71.8, down from a preliminary 73 reading.
Industrials, financials, and consumer discretionary stocks led S&P 500 gains Friday, while utilities and communication services lagged.
The Dow Jones Industrial Average was up 0.97% and closed at 44,296.51, the S&P 500 gained 0.35% to 5,969.30, and the Nasdaq Composite rose 0.16% to finish at 19,003.65.
Asia Markets Today
- On Monday, Japan’s Nikkei 225 gained 1.08% and ended the session at 38,735.00, led by gains in the Chemical, Petroleum & Plastic, Mining and Textile sectors.
- Australia’s S&P/ASX 200 gained 0.28% and ended the day at 8,417.60, led by gains in the A-REITs, Healthcare, and Consumer Discretionary sectors.
- India’s Nifty 50 rose 1.32% to 24,221.90, and Nifty 500 gained 1.58%, closing at 22,576.60, led by gains in the Oil & Gas, Capital Goods, and Public Sector Undertakings sectors.
- China’s Shanghai Composite declined 0.10% to close at 3,263.76, and the Shenzhen CSI 300 fell 0.46%, finishing the day at 3,848.09.
- Hong Kong’s Hang Seng fell 0.41% and closed the session at 19,150.99.
Eurozone at 06:00 AM ET
- The European STOXX 50 index was up 0.35%.
- Germany’s DAX rose 0.45%.
- France’s CAC gained 0.12%.
- U.K.’s FTSE 100 index traded higher by 0.12%
Commodities at 06:00 AM ET
- Crude Oil WTI was trading lower by 0.42% at $70.94/bbl, and Brent was down 0.40% at $74.32/bbl.
- Oil prices steadied after last week’s 6% gains, driven by geopolitical tensions involving Russia and Iran. Markets await the OPEC+ meeting and rising Chinese crude demand, while potential U.S. sanctions on Iran threaten supply disruptions.
- Natural Gas rose 3.99% to $3.418.
- Gold was trading lower by 1.21% at $2,703.90, Silver was down 1.56% to $31.282, and Copper gained 0.67% to $4.1612.
U.S. Futures at 06:00 AM ET
Dow futures gained 0.68%, S&P 500 futures were up 0.51% and Nasdaq 100 futures rose 0.61%.
Forex at 06:00 AM ET
The U.S. dollar index fell 0.55% to 106.97, the USD/JPY was down 0.23% to 154.38, and the USD/AUD rose 0.39% to 1.5355.
Photo by Pavel Bobrovskiy via Shutterstock
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Super Hi Reports Unaudited Financial Results for the Third Quarter of 2024
SINGAPORE, Nov. 25, 2024 (GLOBE NEWSWIRE) — Super Hi International Holding Ltd. HDL (“Super Hi” or the “Company”), a leading Chinese cuisine restaurant brand operating Haidilao hot pot restaurants in the international market, today announced its unaudited financial results for the third quarter of FY2024 ended September 30, 2024.
Third Quarter 2024 Highlights
- Revenue was US$198.6 million, representing an increase of 14.6% from US$173.3 million in the same period of 2023.
- In the third quarter of 2024, the Company maintained its existing restaurant footprint with no new openings. The Company temporarily closed 1 restaurant in Southeast Asia in anticipation to relaunch the restaurant as a secondary branded restaurant in the near future. The total number of Haidilao restaurants as of September 30, 2024 was 121, reflecting a net increase of 6 since December 31, 2023.
- Total table turnover rate1 was 3.8 times per day, compared to 3.7 times per day in the same period of 2023.
- Had over 7.4 million total guest visits, representing an increase of 4.2% from 7.1 million in the same period of 2023.
- Same-store sales growth2 was 5.6%.
- Income from operation margin3 was 7.5%, compared to 5.7% in the same period of 2023.
Ms. Yang Lijuan, CEO & Executive Director of Super Hi, commented, “In the third quarter of 2024, we recorded a quarterly revenue of US$198.6 million, reflecting a 14.6% year-over-year growth. Our income from operation margin3 was 7.5%, increasing by 1.8 percentage points from the same period of the last year. This growth stems not only from the increasing influence of our brand but also from the dedication of our entire team in elevating customer experience, broadening our customer reach, and perfecting our operational execution across all consumer scenarios. At the same time, we will remain focused on enhancing our core competencies across supply chain optimization, innovative product development, strategic brand building, and digital transformation to drive superior restaurant performance.”
Third Quarter 2024 Financial Results
Revenue was US$198.6 million, representing an increase of 14.6% from US$173.3 million in the same period of 2023.
- Revenue from Haidilao restaurant operations was US$190.9 million, representing an increase of 14.5% from US$166.7 million in the same period of 2023. The increase was mainly driven by (i) ongoing business expansion and increased brand influence; (ii) continuous efforts to increase guest visits and table turnover rate; and (iii) an increase in average spending per guest.
- Revenue from delivery business was US$2.6 million, representing an increase of 8.3% from US$2.4 million in the same period of 2023, primarily due to enhanced partnerships with local delivery platforms.
- Revenue from other business was US$5.1 million, representing an increase of 21.4% from US$4.2 million in the same period of 2023, driven by the growing popularity for hot pot condiment products and Haidilao-branded and sub-branded food products among local customers and retailers.
Raw materials and consumables used were US$65.5 million, representing an increase of 9.9% from US$59.6 million in the same period of 2023. As a percentage of revenue, raw materials and consumables used decreased to 33.0% in the third quarter of 2024 from 34.4% in the same period of 2023.
Staff costs were US$65.8 million, representing an increase of 15.2% from US$57.1 million in the same period of 2023. As a percentage of revenue, staff costs accounted for 33.1%, compared to 32.9% in the same period of 2023. The increase was primarily due to (i) an increase in the number of employees in line with restaurant network expansion compared to the same period of 2023, and an increase in guest visits and table turnover rate; (ii) the Company’s operational strategy of ensuring sufficient number of employees to provide superior customer experience; and (iii) an increase in statutory minimum wages in several countries.
Income from operations4 was US$14.9 million, representing an increase of 52.0% from US$9.8 million in the same period of 2023. Income from operation margin3 was 7.5%, compared to 5.7% in the same period of 2023. This increase in income from operations was mainly attributable to (i) an increase in revenue and table turnover rate as described above; and (ii) an improvement in operational efficiency, especially through optimization of the global supply chain and enhanced cost control.
Profit for the period was US$37.7 million, compared to a loss of US$1.4 million in the same period of 2023. This change was mainly due to (i) an increase in revenue driven by ongoing business expansion and continuous efforts in increasing guest visits and table turnover rate; (ii) an improvement in operational efficiency; and (iii) in addition to the aforementioned factors that affect the Company’s income from operations, an increase in net foreign exchange gains of US$34.6 million compared to the same period of 2023.
Basic and diluted net profit per share were both US$0.06, compared to an approximating nil in the same period of 2023.
________________________
1 Calculated by dividing the total tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count during the period.
2 Refers to the year-over-year growth of the aggregate gross revenue from Haidilao restaurant operations at the Company’s same stores for the period indicated.
3 Calculated by dividing income from operation4 by total revenue.
4 Calculated by excluding interest income, finance costs, unrealized foreign exchange differences arising from remeasurement of balances which are not denominated in functional currency, net gain arising on financial assets at fair value through profit or loss and income tax expense from (loss) profit for the period.
Operational Highlights
Haidilao Restaurant Performance
The following table summarizes key performance indicators of Haidilao’s restaurants for the quarters indicated.
| As of/For the Three Months Ended September 30, |
|||
| 2024 | 2023 | ||
| Number of restaurants | |||
| Southeast Asia | 73 | 69 | |
| East Asia | 18 | 17 | |
| North America | 20 | 18 | |
| Others(1) | 10 | 10 | |
| Total | 121 | 114 | |
| Total guest visits (million) | |||
| Southeast Asia | 5.2 | 4.9 | |
| East Asia | 0.8 | 0.8 | |
| North America | 0.9 | 0.8 | |
| Others(1) | 0.5 | 0.6 | |
| Overall | 7.4 | 7.1 | |
| Table turnover rate(2) (times per day) | |||
| Southeast Asia | 3.6 | 3.5 | |
| East Asia | 4.3 | 3.9 | |
| North America | 3.9 | 3.9 | |
| Others(1) | 3.8 | 3.9 | |
| Overall | 3.8 | 3.7 | |
| Average spending per guest(3) (US$) | |||
| Southeast Asia | 20.4 | 18.7 | |
| East Asia | 29.2 | 26.0 | |
| North America | 43.5 | 41.2 | |
| Others(1) | 43.0 | 38.8 | |
| Overall | 25.8 | 23.7 | |
| Average daily revenue per restaurant(4) (US$ in thousands) | |||
| Southeast Asia | 15.7 | 14.7 | |
| East Asia | 17.7 | 13.0 | |
| North America | 21.5 | 20.4 | |
| Others(1) | 24.3 | 23.2 | |
| Overall | 17.7 | 16.1 | |
Notes:
(1) Others include Australia, the United Kingdom, and the United Arab Emirates.
(2) Calculated by dividing total number of tables served for the periods by the product of total Haidilao restaurant operation days for the period and average table count during the period in the same geographic region.
(3) Calculated by dividing gross revenue of Haidilao restaurant operation for the periods by total guests served for the periods in the same geographic region.
(4) Calculated by dividing the revenue of Haidilao restaurant operation for the periods by the total Haidilao restaurant operation days of the periods in the same geographic region.
Same-Store Sales
The following table sets forth details of the Company’s same store sales for the quarters indicated.
| As of/For the Three Months Ended September 30, |
|||
| 2024 | 2023 | ||
| Number of Same Stores(1) | |||
| Southeast Asia | 65 | ||
| East Asia | 13 | ||
| North America | 18 | ||
| Others(5) | 10 | ||
| Total | 106 | ||
| Same Store Sales(2) (US$ in thousands) | |||
| Southeast Asia | 96,839 | 93,131 | |
| East Asia | 20,374 | 16,907 | |
| North America | 36,096 | 34,635 | |
| Others(5) | 22,449 | 21,773 | |
| Total | 175,758 | 166,446 | |
| Average same store sales per day(3) (US$ in thousands) | |||
| Southeast Asia | 16.2 | 15.6 | |
| East Asia | 17.1 | 14.1 | |
| North America | 21.8 | 20.9 | |
| Others(5) | 24.4 | 23.7 | |
| Total | 18.0 | 17.1 | |
| Average same store table turnover rate(4) (times/day) | |||
| Southeast Asia | 3.6 | 3.6 | |
| East Asia | 4.3 | 4.0 | |
| North America | 4.0 | 3.9 | |
| Others(5) | 3.8 | 3.9 | |
| Total | 3.7 | 3.7 | |
Notes:
(1) Includes restaurants that commenced operations prior to the beginning of the periods under comparison and opened for more than 75 days in the third quarter of 2023 and 2024, respectively.
(2) Refers to the aggregate gross revenue from Haidilao restaurant operation at the Company’s same stores for the periods indicated.
(3) Calculated by dividing the gross revenue from Haidilao restaurant operation for the periods by the total Haidilao restaurant operation days at the Company’s same stores for the periods.
(4) Calculated by dividing the total tables served for the periods by the product of total Haidilao restaurant operation days for the period and average table count at the Company’s same stores during the periods.
(5) Others include Australia, the United Kingdom, and the United Arab Emirates.
About Super Hi
Super Hi operates Haidilao hot pot restaurants in the international market. Haidilao is a leading Chinese cuisine restaurant brand. With roots in Sichuan from 1994, Haidilao has become one of the most popular and largest Chinese cuisine brands in the world. With over 30 years of brand history, Haidilao is well-loved by guests for its unique dining experience — warm and attentive service, great ambiance and delicious food, standing out among global restaurant chains, which has made Haidilao restaurants into a worldwide cultural phenomenon. Haidilao has been ranked as one of the world’s most valuable restaurant brands for six consecutive years since 2019, earning the title of “World’s Strongest Restaurant Brand” for 2024 (Brand Finance). As of September 30, 2024, Super Hi had 121 self-operated Haidilao restaurants in 13 countries across four continents, making it the largest Chinese cuisine restaurant brand in the international market in terms of number of countries covered by self-operated restaurants.
Forward-Looking Statements
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Super Hi may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “SEHK”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Super Hi’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Super Hi’s operations and business prospects; future developments, trends and conditions in the industry and markets in which Super Hi operates; Super Hi’s strategies, plans, objectives and goals and Super Hi’s ability to successfully implement these strategies, plans, objectives and goals; Super Hi’s ability to maintain an effective food safety and quality control system; Super Hi’s ability to continue to maintain its leadership position in the industry and markets in which Super Hi operates; Super Hi’s dividend policy; Super Hi’s capital expenditure plans; Super Hi’s expansion plans; Super Hi’s future debt levels and capital needs; Super Hi’s expectations regarding the effectiveness of its marketing initiatives and the relationship with third-party partners; Super Hi’s ability to recruit and retain qualified personnel; relevant government policies and regulations relating to Super Hi’s industry; Super Hi’s ability to protect its systems and infrastructures from cyber-attacks; general economic and business conditions globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Super Hi’s filings with the SEC and the announcements and filings on the website of the SEHK. All information provided in this press release is as of the date of this press release, and Super Hi does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contacts
Investor Relations
Email: superhi_ir@superhi-inc.com
Phone: +1 (212) 574-7992
Public Relations
Email: media.hq@superhi-inc.com
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
| For the three months ended September 30, |
||||
| 2024 | 2023 | |||
| USD’000 | USD’000 | |||
| Revenue | 198,616 | 173,252 | ||
| Other income | 2,081 | 384 | ||
| Raw materials and consumables used | (65,460 | ) | (59,625 | ) |
| Staff costs | (65,833 | ) | (57,085 | ) |
| Rentals and related expenses | (5,366 | ) | (5,349 | ) |
| Utilities expenses | (7,494 | ) | (6,716 | ) |
| Depreciation and amortization | (20,378 | ) | (17,767 | ) |
| Travelling and communication expenses | (1,515 | ) | (1,552 | ) |
| Other expenses | (17,118 | ) | (16,793 | ) |
| Other gains and losses – net | 25,851 | (6,575 | ) | |
| Finance costs | (2,164 | ) | (1,816 | ) |
| Profit before tax | 41,220 | 358 | ||
| Income tax expense | (3,564 | ) | (1,760 | ) |
| Profit (Loss) for the period | 37,656 | (1,402 | ) | |
| Other comprehensive income | ||||
| Item that may be reclassified subsequently to profit or loss: | ||||
| Exchange differences arising on translation of foreign operations | (13,586 | ) | 3,019 | |
| Total comprehensive income for the period | 24,070 | 1,617 | ||
| Profit (Loss) for the period attributable to: | ||||
| Owners of the Company | 37,724 | (1,390 | ) | |
| Non-controlling interests | (68 | ) | (12 | ) |
| 37,656 | (1,402 | ) | ||
| Total comprehensive income attributable to: | ||||
| Owners of the Company | 24,138 | 1,629 | ||
| Non-controlling interests | (68 | ) | (12 | ) |
| 24,070 | 1,617 | |||
| Profit (Loss) Earnings per share | ||||
| Basic and diluted (USD) | 0.06 | (0.00 | ) | |
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
| As at September 30, | As at December 31, | |||
| 2024 | 2023 | |||
| USD’000 | USD’000 | |||
| Non-current Assets | ||||
| Property, plant and equipment | 163,777 | 168,724 | ||
| Right-of-use assets | 166,989 | 167,641 | ||
| Intangible assets | 287 | 402 | ||
| Deferred tax assets | 2,998 | 1,995 | ||
| Other receivables | 1,960 | 1,961 | ||
| Prepayment | 303 | 295 | ||
| Rental and other deposits | 19,561 | 16,903 | ||
| 355,875 | 357,921 | |||
| Current Assets | ||||
| Inventories | 32,606 | 29,762 | ||
| Trade and other receivables and prepayments | 28,214 | 29,324 | ||
| Financial assets at fair value through profit or loss | 28,834 | – | ||
| Rental and other deposits | 2,708 | 3,882 | ||
| Pledged bank deposits | 3,035 | 3,086 | ||
| Bank balances and cash | 215,162 | 152,908 | ||
| 310,559 | 218,962 | |||
| Current Liabilities | ||||
| Trade payables | 33,602 | 34,375 | ||
| Other payables | 35,559 | 34,887 | ||
| Amounts due to related parties | 1,367 | 842 | ||
| Tax payable | 3,606 | 9,556 | ||
| Lease liabilities | 41,194 | 38,998 | ||
| Contract liabilities | 9,438 | 8,306 | ||
| Provisions | 2,280 | 1,607 | ||
| 127,046 | 128,571 | |||
| Net Current Assets | 183,513 | 90,391 | ||
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
| As at September 30, | As at December 31, | ||||
| 2024 | 2023 | ||||
| USD’000 | USD’000 | ||||
| Non-current Liabilities | |||||
| Deferred tax liabilities | 7,076 | 1,347 | |||
| Lease liabilities | 155,799 | 163,947 | |||
| Contract liabilities | 3,035 | 3,098 | |||
| Provisions | 12,571 | 7,799 | |||
| 178,481 | 176,191 | ||||
| Net Assets | 360,907 | 272,121 | |||
| Capital and Reserves | |||||
| Share capital | 3 | 3 | |||
| Shares held under share award scheme | * | * | |||
| Share premium | 550,593 | 494,480 | |||
| Reserves | (191,590 | ) | (224,397 | ) | |
| Equity attributable to owners of the Company | 359,006 | 270,086 | |||
| Non-controlling interests | 1,901 | 2,035 | |||
| Total Equity | 360,907 | 272,121 | |||
* Less than USD1,000
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the three months ended September 30, | ||||
| 2024 | 2023 | |||
| USD’000 | USD’000 | |||
| Net cash from operating activities | 40,699 | 19,911 | ||
| Net cash from (used in) investing activities | 41,311 | (52,921 | ) | |
| Net cash used in financing activities | (11,440 | ) | (10,022 | ) |
| Net increase (decrease) in cash and cash equivalents | 70,570 | (43,032 | ) | |
| Cash and cash equivalents at beginning of the period | 140,659 | 118,936 | ||
| Effect of foreign exchange rate changes | 3,933 | (633 | ) | |
| Cash and cash equivalents at end of the period | 215,162 | 75,271 | ||
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Money market account rates today, November 25, 2024 (earn up to 5.01% APY)
A money market account (MMA) can be an attractive option for savers who want a safe place to store their funds. MMAs often come with higher interest rates than regular savings accounts, allowing your money to grow more quickly. Plus, they typically include features like check-writing privileges and debit cards, which make it easy to withdraw money as needed.
Not sure where to find the best money market account rates today? Read on to find out which banks have the best offers.
In general, money market accounts offer better interest rates than traditional savings accounts. Still, rates vary widely across financial institutions. That’s why it’s important to shop around and compare rates before opening an account.
In fact, some of the top accounts are currently offering upwards of 5% APY. Since these rates may not be around much longer, consider opening a money market account now to take advantage of today’s high rates.
Here’s a look at some of the top MMA rates available today:
See our picks for the 10 best money market accounts available today>>
Additionally, the table below features some of the best savings and money market account rates available today from our verified partners.
Money market accounts have some of the highest interest rates we’ve seen in more than a decade thanks to recent interest rate hikes by the Federal Reserve. Even so, the national average interest rate for money markets is fairly low (0.60%, according to the FDIC) compared to the top offers available.
The Fed is also expected to lower its target rate again later this year, which means now might be the last chance for savers to take advantage of today’s high rates. Be sure to shop around and choose an account with a competitive rate.
Choosing the right money market account is an important decision. There are several factors to consider besides the interest rate alone.
For instance, it’s common for money market accounts to charge monthly maintenance fees, which can eat into your interest earnings. Some accounts provide ways to get the monthly fee waived, such as by setting up direct deposit or maintaining a minimum balance. However, there are also some fee-free accounts to consider.
Additionally, some MMAs require a minimum balance to earn the highest advertised interest rate. Be sure you choose a money market account with a minimum balance that’s reasonable to maintain — otherwise, you could incur fees and/or lose out on interest.
Finally, you may want to prioritize MMAs that come with ATM access for easier withdrawals. This is a convenient feature if you want to access your funds without needing to transfer them to another account first.
Duke Robotics Begins Generating Revenue from its Innovative Insulator Cleaning Drone
FORT LAUDERDALE, FL — November 25, 2024 – Duke Robotics Corp DUKR (UASUSDR (“Duke Robotics” or the “Company”), a leader in advanced robotics technology and autonomous drone solutions, is pleased to announce initial revenue generation from its previously reported agreement with the Israel Electric Corporation (“IEC”) for high-voltage insulator washing services using the Company’s innovative IC Drone (the “IEC Agreement”). The IEC Agreement represents a significant milestone, transitioning Duke Robotics from development to active service and revenue generation within the civilian sector.
The IEC Agreement establishes Duke Robotics as a provider of advanced aerial cleaning solutions designed to enhance the safety, efficiency, and sustainability of utility maintenance operations. The IEC has committed to a minimum utilization of services, with a guaranteed payment in the low seven figures (in NIS) within the first year of the agreement. With the IC Drone now fully operational, Duke Robotics now aims to expand its offering to other utility providers globally, leveraging the proven success of the IC Drone with IEC.
Yossef Balucka, Chief Executive Officer of Duke Robotics, commented, “We are excited to launch our IC Drone services with the IEC. It also marks the beginning of revenue generation for Duke Robotics, as we reported in our Quarterly Financial Statements for the third quarter ending September 30, 2024. We believe that this deployment is a testament to the effectiveness and value of our drone-enabled solutions. We look forward to bringing these benefits to utility companies worldwide as we continue to grow our service offerings.”
The IEC Agreement underscores Duke Robotics’ commitment to pioneering innovative applications for drone technology in the civilian sector and advancing sustainable solutions in utility maintenance, alongside its existing military offering.
About Duke Robotics Corp.
Duke Robotics Corp. (formerly known as UAS Drone Corp) is a forward-thinking company focused on bringing advanced stabilization and autonomous solutions to both military and civilian sectors. Through its wholly owned subsidiary, Duke Robotics Ltd., the company developed TIKAD, an advanced robotic system that enables remote, real-time, and accurate firing of lightweight firearms and weaponry via an unmanned aerial platform (UAV) designed to meet the growing demand for tech solutions in modern warfare. Duke Robotics Ltd. Also developed the IC Drone, a first-of-its-kind robotic, drone-enabled system for cleaning electric utility insulators. The unique system, based on the Company’s advanced intellectual property and know-how, integrates algorithms, autonomous systems, and robotic technologies used in mission-critical applications.
For more information about Duke Robotics Corp (Previously UAS Drone Corp) please visit www.dukeroboticsys.com or view documents filed with the Securities and Exchange Commission at www.sec.gov.
Forward-Looking Statements
This press release contains forward-looking statements. Words such as “future” and similar expressions, or future or conditional verbs such as “will,” are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs, assumptions, and information currently available to us. For example, we are using forward-looking statements when we discuss the global expansion of our services, the expected revenue from the IEC Agreement, its plans to offer its services to utility companies worldwide, and its future growth and commitment to pioneering innovative applications for drone technology in the civilian sector and advancing sustainable solutions in utility maintenance. Our actual results may differ materially from those expressed or implied due to known or unknown risks and uncertainties. These include, but are not limited to, risks related to the successful implementation of the IEC agreement, continued development and adoption of our products, fluctuations in foreign currency exchange rates, and competition from technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and any subsequent filings with the Securities and Exchange Commission. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Compay Contact:
Duke Robotics Corp
Yossef Balucka, CEO
invest@dukeroboticsys.com
Capital Markets & IR:
ARX | Capital Markets Advisors
North American Equities Desk
DUKE@arxadvisory.com
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Judge to hear arguments on whether Google's advertising tech constitutes a monopoly
ALEXANDRIA, Va. (AP) — Google, already facing a possible breakup of the company over its ubiquitous search engine, is fighting to beat back another attack by the U.S. Department of Justice alleging monopolistic conduct, this time over technology that puts online advertising in front of consumers.
The Justice Department and Google are scheduled to make closing arguments Monday in a trial alleging Google’s advertising technology constitutes an illegal monopoly.
U.S. District Judge Leonie Brinkema in Alexandria, Virginia, will decide the case and is expected to issue a written ruling by the end of the year. If Brinkema finds Google has engaged in illegal, monopolistic conduct, she will then hold further hearings to explore what remedies should be imposed.
The Justice Department, along with a coalition of states, has already said it believes Google should be forced to sell off its ad tech business, which generates tens of billions of dollars annually for the Mountain View, California-based company.
After roughly a month of trial testimony earlier this year, the arguments in the case remain the same.
The Justice Department contends Google built and maintained a monopoly in “open-web display advertising,” essentially the rectangular ads that appear on the top and right-hand side of the page when one browses websites.
Google dominates all facets of the market: A technology called “DoubleClick” is used pervasively by news sites and other online publishers, while “Google Ads” maintains a cache of advertisers large and small looking to place their ads on the right webpage in front of the right consumer.
In between is another Google product, AdExchange, that conducts nearly instantaneous auctions matching advertisers to publishers.
In court papers, Justice Department lawyers say Google “is more concerned with acquiring and preserving its trifecta of monopolies than serving its own publisher and advertiser customers or winning on the merits.”
As a result, content providers and news organizations have never been able to generate the online revenue they should due to Google’s excessive fees for brokering transactions between advertisers and publishers, the government says.
Google argues the government’s case improperly focuses on a narrow niche of online advertising. If one looks more broadly at online advertising to include social media, streaming TV services, and app-based advertising, Google says it controls only 25% of the market, a share that is dwindling as it faces increased and evolving competition.
Google alleges in court papers that the government’s lawsuit “boil(s) down to the persistent complaints of a handful of Google’s rivals and several mammoth publishers.”
Gold Tumbles as Traders Mull Treasury Pick and Fed Outlook
(Bloomberg) — Gold tumbled as traders digested Donald Trump’s pick of Scott Bessent as Treasury Secretary and looked toward the Federal Reserve’s next interest-rate decision.
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Bullion slid as much as 2.1%, after capping the biggest weekly rally in 20 months on Friday as an escalation in the Russia-Ukraine conflict bolstered the metal’s haven appeal. Prices fell on Monday even as the dollar and US bond yields weakened, moves that typically benefit gold.
Markets broadly welcomed the choice of Bessent for Treasury Secretary as a measured choice that would inject more stability into the US economy and financial markets. The hedge fund manager’s nomination has eased concerns over the incoming president’s inflationary agenda, which could reduce gold’s allure as a hedge against price rises.
The Bessent news is a possible driver of gold’s price drop on Monday, along with profit taking following last week’s rally, according to UBS Group AG commodity analyst Giovanni Staunovo.
“Some market participants see him as less negative for a trade war, considering his comments on a phased approach for implementing tariffs,” Staunovo said.
Investors are now focused on the outlook for monetary policy, after a report showed US business activity expanding at the fastest pace since April 2022. Swaps traders see a less-than-even chance the Fed will cuts rates next month. Higher borrowing costs tend to weigh on gold, as it doesn’t pay interest.
A slew of of data this week may yield clues on the Fed’s likely rate path. These include minutes of the central bank’s November meeting, consumer confidence and personal consumption expenditure data — the monetary authority’s preferred gauge of inflation.
Gold has still climbed roughly 30% this year, supported by central bank purchases and the Fed’s pivot to rate cuts. Haven buying has also been a feature on an escalation in the Russia-Ukraine war. Most banks remain positive on the outlook, with Goldman Sachs Group Inc. and UBS seeing further gains in 2025.
“Prices continue to reflect the interplay between geopolitical risks and a less dovish outlook from the Federal Reserve,” said Jun Rong Yeap, a market strategist with IG Asia Pte. “Any upside inflation surprises could further sway bets towards a potential rate hold in December, with any prospects of a slower pace of rate cuts likely to offer some resistance for gold prices.”
How Tim Cook's Strategy To Win Over Trump Gave Apple A Competitive Edge, And Why Sundar Pichai, Mark Zuckerberg And Others Might Be Following His Playbook
Apple Inc. AAPL CEO Tim Cook’s approach to building a relationship with Donald Trump during his presidency reportedly gave Cupertino unique advantages over competitors. Other tech leaders may now be taking notes.
What Happened: A report by The Wall Street Journal highlights how Cook navigated Trump’s administration with a direct, focused strategy.
Cook often bypassed lobbyists and government relations executives, opting instead for one-on-one meetings and phone calls with Trump.
He would focus on singular, data-driven points in discussions to influence policy in Apple’s favor.
This approach reportedly helped Apple avoid some of the harsher impacts of Trump’s trade tariffs in 2019 and positioned the company to benefit from the administration’s 2017 tax reforms.
Cook also strategically aligned Apple’s interests with Trump’s agenda, ensuring mutual benefits. For instance, he didn’t refute Trump’s claim of credit for an Austin manufacturing plant that was neither new nor owned by Apple.
The report noted that doing so allowed Trump to appear successful while maintaining Apple’s goodwill.
Leaders of other major companies, including Alphabet Inc. GOOG GOOGL CEO Sundar Pichai and Meta Platforms, Inc.’s META Mark Zuckerberg are reportedly employing similar strategies.
According to the report, executives from Boeing Co. BA and FedEx Corp. FDX have also attempted direct communication with Trump.
Meanwhile, some have reportedly explored leveraging connections through the Department of Government Efficiency (DOGE), a role Trump assigned to Elon Musk after the Tesla Inc. CEO’s vocal support for his campaign.
Why It Matters: Trump previously said that Pichai updated him on trending Google searches and Zuckerberg praised his response to an assassination attempt, showing their efforts to establish rapport.
Since Trump’s victory in the 2024 U.S. Presidential election, both the stock market and the cryptocurrency sector have experienced significant growth.
The S&P 500 has increased by 3.22%, rising from 5,782 on Nov. 5 to 5,969 as of Friday’s close. The SPDR S&P 500 ETF SPY which tracks the S&P 500 Index has had a similar momentum since Trump’s victory, according to data from Benzinga Pro.
During the same period, NASDAQ has risen 2.71% to reach 20,776.23. The Invesco QQQ Trust QQQ which tracks the performance of the Nasdaq-100 Index gained 2.75%.
On the other hand, the overall market cap of the cryptocurrency sector has risen to $3.37 trillion, up 44.63% from $2.33 trillion on Nov. 5.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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