Tag: homegrown
CATALIST-listed AOXIN Q&M records 21% growth in revenue for full year ended 31 December 2021
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Dr. Shao Yongxin, Group Chief Executive Officer of Aoxin Q&M said, "Global economic prospects for 2022 will continue to be uncertain, with many countries still struggling to contain the rapid spread of the Omicron variant. The possibility of new COVID-19 strains cannot be ruled out. However, Aoxin Q&M's dental services make it resilient and well-positioned ride out the current downturn to capitalize on strategic opportunities in the post-COVID healthcare sector".
Mr Ryan San, Deputy Chief Executive Officer of Aoxin Q&M said, "The Group has been operating in a challenging environment, severely impacted by the recurring lockdowns of entire cities in the People's Republic of China ("PRC"). We are keeping a close watch on the evolving COVID-19 situation in PRC, while managing our costs with strict discipline."
Revenue
The Group's revenue increased by RMB27.6 million or 20.8%, from RMB132.6 million in FY2020 to RMB160.2 million in FY2021, mainly due to the recovery in all business segments.
Revenue from primary healthcare segment increased by 19.7% from RMB78.5 million in FY2020 to RMB93.9 million in FY2021. The increase in revenue were from our key hospitals in Shenyang and Dalian cities, and a polyclinic in Panjin city mainly due to increase in patients.
Revenue from distribution of dental equipment and supplies segment achieved a significant growth of 24.8%. Revenue was RMB50.4 million in FY2021 as compared to RMB40.4 million in FY2020. There was a higher demand for dental supplies materials from government hospitals amidst a gradual economic recovery in China backed by rolling out of the COVID-19 vaccination in the country.
Revenue from laboratory services segment increased by 15.9% to RMB15.9 million in FY2021 as compared to RMB13.7 million in FY2020 due to increase in demand of such services from the government dental hospitals in Shenyang City.
EBITDA
The Group's EBITDA also increased from RM9.5 million in FY2020 to RMB13.9 million in FY2021. The increase in EBITDA was mainly attributable to higher revenue and better performance from key dental hospitals and polyclinics as well as higher sales for dental equipment and supplies. Despite a positive EBITDA of RMB13.9 million, the Group recorded a loss of RMB7.3 million due to salary increment and recruitment expenses, as well as higher other expenses, such as acquisition related fees for Acumen Diagnostics Pte. Ltd. ("Acumen Diagnostics") and other tax expenses.
Mr Ryan San, Deputy Chief Executive Officer of Aoxin Q&M added. "We are also hopeful that moving forward, our recent acquisition of a 49% stake in Acumen Diagnostics will improve the profitability and cashflow of the Group. With Acumen Diagnostics expertise in R&D and medical diagnostics we will be able to play a vital role in support of the Singapore government's strategy of living with COVID-19. Concomitantly, this will also contribute to the growth of the Group."
Updates on associate - Acumen Diagnostics
- Capabilities to Tackle Omicron COVID-19 Variant
Acumen Diagnostics will continue to offer COVID-19 testing by polymerase chain reaction ("PCR") for patients that require PCR test results and for travelers as Singapore opens its borders, as well as distribute COVID-19 antigen rapid tests ("ART"). It will also launch a panel of new PCR tests for infectious diseases, sepsis and cancer.
On 3 December 2021, Acumen Diagnostics announced that its proprietary, locally-manufactured PCR test kits Acu-Corona 2.0 and Acu-Corona Duplex are able to detect COVID-19 positive cases infected with the Omicron variant. On 16 December 2021, Acumen Diagnostics announced that it has been granted a license by Ministry of Health, Singapore to provide offsite COVID-19 PCR swab services and serology sample collection at 100 clinics.
Acumen Diagnostics will continue to roll out its testing services via the Q&M Dental Group Limited's network of clinics, and also at its headquarters located at The Gemini, 41 Science Park Road, Singapore. Currently, Acumen Diagnostics has about 61 clinics providing the testing services island-wide.
- Proposed listing on NASDAQ stock exchange in relation to Acumen Diagnostics Pte. Ltd.
On 17 January 2022, Aoxin announced that the associated company of the Group, Acumen Diagnostics is exploring a proposed listing of its securities on the NASDAQ stock exchange in New York, USA. In this regard, Acumen Diagnostics has appointed UOB Kay Hian Private Limited to assist Acumen Diagnostics with the listing evaluation and all relevant preparatory work including the selection of professional advisers and underwriting banks in relation to the proposed listing and fund-raising exercise.
Looking Forward
Aoxin's FY2021 results reflects the significant upturn in revenue as compared to FY2020 revenue which was the period when the COVID-19 pandemic in PRC was in a more serious phase. As the COVID-19 situation in the PRC continues to improve, we expect the Group's revenue to correspondingly improve.
In addition, the recent 49% acquisition of medical technology company, Acumen Diagnostics for S$29.4 million on 1 November 2021, will enhance the profitability of the Group going forward.
The business environment is expected to remain challenging for the year ahead, as many countries including PRC struggle to contain the rapid spread of the COVID-19 virus demonstrated by new waves of infections.
The Group will continue to focus on disciplined management of operating expenditures, costs and capital expenditures. The Group will continue to monitor its expenses and maximise cost efficiency for operations.
Barring any unforeseen circumstances and further worsening of the COVID-19 situation such as ad-hoc lock down or temporary closures in cities where we operate, there are no known significant changes in the trends and competitive conditions of the industry in which the Group operates and no other major known factors or events that may adversely affect the Group in the next reporting period and the next 12 months. The Group will continue to monitor its operating expenses and maximise cost efficiency for operations.
For more information, please see attached files or the below links:
https://links.sgx.com/FileOpen/AoxinPressRelease-FY2021_final_23.2.22.ashx?App=Announcement&FileID=703172
https://links.sgx.com/FileOpen/AXQM%20Announcement%20FY2021.ashx?App=Announcement&FileID=703171
This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Ms. Lim Hui Ling, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg
About Aoxin Q&M Dental Group Limited (Stock Code: 1D4.SI) www.aoxinqm.com.sg
Aoxin Q&M Dental Group Limited ("Aoxin Q&M" or together with its subsidiaries, the "Group") is a leading provider of private dental services in the Liaoning Province, Northern People's Republic of China ("PRC"). The Group operates 16 dental centres, comprising 10 dental polyclinics and 6 dental hospitals, located across 8 cities in Liaoning Province, namely Shenyang, Huludao, Panjin, Gaizhou, Zhuanghe, Jinzhou, Dalian and Anshan.
We currently have 400 dental professionals, including 170 dentists, 180 dental surgery assistants and 50 laboratory technicians.
A majority of the dental centres are accredited as Designated Medical Institutions of Medical Insurance. Additionally, the Group is engaged in the provision of dental laboratory services, as well as the distribution and sale of dental equipment and supplies in the Liaoning, Heilongjiang and Jilin Provinces in Northern PRC.
Aoxin Q&M was listed on the Catalist board of the Singapore Exchange Securities Trading Limited on 26 April 2017.
About Acumen Diagnostics Pte. Ltd. (www.acumen-research.com)
Acumen Diagnostics Pte. Ltd. ("Acumen Diagnostics") is a homegrown Singaporean, award-winning medical technology company. It is fully integrated with functions in research and development, manufacturing, as well as commercialisation of molecular diagnostics by distribution as well as conducting clinical laboratory testing services for (including but not limited to) infectious diseases, cancer, and COVID-19. It has also actively established frontline services such as COVID-19 on-site swabbing operations.
Acumen Diagnostics is a 51% subsidiary of SGX-listed Q&M Dental Group (Singapore) Limited (SGX: 1D4.SI) and 49%-owned by SGX-listed Aoxin Q&M Dental Group Limited (SGX: QC7.SI).
Media and Analysts: please contact below for more information: Waterbrooks Consultants Pte. Ltd.
+65 6958 8008, query@waterbrooks.com.sg
Wayne Koo (M): +65 9338 8166, wayne.koo@waterbrooks.com.sg
Derek Yeo (M): +65 9791 4707, derek@waterbrooks.com.sg
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comCatalist listed Aoxin Q&M Dental Limited ("Aoxin" or "the Group"), today announced a 20.8% increase in revenue to RMB160.2 million for full year ended 31 December 2021 ("FY2021").
Friday ‘Nite: Let’s Fan-Cast The Fortnite Movie
A Fortnite movie is coming. No, that's not an announcement, though there have been rumors of a Fortnite movie for some time now. But it's practically a foregone conclusion that one of the biggest names in entertainment, a brand with its hand in basically every intellectual property money pit right now, from Star Wars to Marvel and much more, is going to get a movie. It's merely a matter of time.
One could argue that a movie is an old-fashioned way of doing things. Fortnite already features some incredible cinematic live events that players can live through themselves, which ends up feeling quite like being in a Fortnite movie already. But I do think, even in this weird era for movie theaters, that a Fortnite movie would be massive. It's important to capitalize on the game's still sky-high popularity, lest Epic Games and partners risk launching it when the game is losing steam, like the Angry Birds Movie.
With so many crossovers and characters constantly coming to Fortnite, no doubt a Fortnite movie would be packed full of more collaborations than Ready Player One, but for this exercise, I'm going to focus just on Fortnite's homegrown heroes and largely pull from the most important characters in Fortnite lore, such as Jonesy, Doctor Slone, and Midas. Whether it's a live-action adaptation or an animated feature with a star-studded voice cast, here's who I envision as the stars of the inevitable Fortnite movie.
Jonesy - Tom Holland
Holland is already the famous face of Spider-Man and Nathan Drake on the big screen, but if you think he can't also play the main character of the Fortnite movie, I'd have to guess you haven't heard what Chris Pratt's been up to. Holland suits Jonesy's mix of a young everyman with some jokey reluctant hero tropes that he's already doing well in his other movies. As with his role as Drake, he's also young enough to play Jonesy for the years of sequels to come.
The Foundation - The Rock
No need to get cute here. The Rock is already playing the muscular leader of The Seven in Fortnite, and there's every reason to think he'd fulfill that role in the movie version too. The Rock has star power like few others, appealing to both kids and adults dating back to his WWF days. It's a shine he's never really lost, and he'd play off of Holland perfectly in the same buddy-cop way that The Foundation and Jonesy already do in the game.
Doctor Slone - Jasmin Savoy Brown
Jasmine Savoy Brown's last half-decade has seen her catapulted into the upper echelon of young stars, and hers is a star still rising. She's already flexed her ability to play complicated morally dubious characters in projects like The Leftovers, Scream, and Yellowjackets, so she'd fit right in as the probably evil, but maybe misunderstood Doctor Slone.
The Cube Queen - Carrie-Anne Moss
Coming off back-to-back high-profile roles in The Matrix Resurrections and Horizon Forbidden West, Carrie Ann Moss makes a lot of sense as the formidable Cube Queen. This is a character who may not appear in the first Fortnite movie, assuming it rehashes the story to a predictable degree, but Moss would make for a big name attached to the sequel in the way studios love to do, and she's got the commanding energy the Cube Queen demands.
Midas - Oscar Isaac
One thing Epic got wrong about Midas, in my opinion, is that he's meant to be Jules' dad, but the two characters look nearly the same age. If the movie was live-action, that could be fixed by casting an older actor, but still someone who feels dripping with style and dangerous allure. Of course, I'm speaking of Oscar Isaac. He's the perfect age and would bring his soon-to-be-earned Marvel fandom with him.
Jules - Ariana Grande
This would be fun for a few reasons. For one, Grande is starting to try acting, as seen in Netflix's Don't Look Up recently. But more than that, Grande is already a big name in Fortnite thanks to her Rift Tour concert in the summer of 2021. For Grande to show up in the Fortnite movie as a character created by Epic would be a fun nod to the game's own internal history, not to mention Grande is a few fake tattoos away from resembling Jules pretty closely.
The Paradigm - Mackenzie Davis
At the time of writing this, Epic is still drip-feeding us story about why The Paradigm was cast out of The Seven (and why the group may now be considering bringing her back). It seems like the writers have big, big plans for this mysterious hero, and if that translates to the movie, you'll need a rising star to fill the role. After nailing it in things like Black Mirror and Station Eleven, I love Mackenzie Davis for this role. She's believable as a hero with a checkered past, which seems to be who Epic is telling us The Paradigm is.
The Scientist - Joel McHale
Like The Foundation, The Scientist's in-game voice actor could comfortably slide into the movie role just as well. Joel McHale has done a great job as The Scientist, bringing a comic relief character to the story that, while colorful and silly in general, tends to be about the universe collapsing in on itself when you really get down to the details. He's basically playing Jeff Winger from Community--but isn't he always? As sardonic as ever, McHale has the right amount of star power to fill out this cast.
Peely - Donald Glover
Look, if we're not gonna get the Community movie, then I'm using this as my own personal wishing well to reunite at least some of the cast in something. Glover has incredible comedic chops and would obviously kill it as the Fortnite world's anthropomorphic banana. Plus he'd do wonders with the eventual dancing banana segment that you've gotta know makes the final cut of any Fortnite movie. While we're at it, let's get Danny Pudi on the fitness fast-track to play Meowscles, Midas' buff cat, too.
The Fortnite universe is massive, so this is only a main cast, more or less. Who else would you like to see in an eventual Fortnite movie? If you like this sort of thing, join me every week for my weekly column dedicated to the Fortnite storyline, Friday 'Nite.
Valve Steam Deck wows reviewers: ‘The most innovative gaming PC in 20 years’
The Steam Deck, Valve's take on a Switch-style portable PC gaming machine, is perhaps the most anticipated piece of portable hardware since…well, since the Nintendo Switch. So it's understandable that the technology press is champing at the bit to devour every detail about it, even well before its official release later this month. Pre-release units are finally finding their way out of Valve's clutches, and into at least a few YouTube reviewer' hands.
While these preview videos aren't allowed to go into every exhaustive detail of the Steam Deck, they do give us a fairly complete look at the final hardware, and at least some indication of how it will perform on a select range of popular PC games.
Given Valve's stated goal of getting the relatively low-priced handheld to run “the latest AAA games, and run them really well,” it's perhaps one of the biggest points of trepidation for those wondering if they should buy one (or those who've already pre-ordered one). With some of the same AMD APU hardware going into modern laptops, and tight integration with the Steam platform and service, it's easy to see how the Steam Deck might be prepared to deliver.
Valve allowed LinusTechTips and Gamers Nexus to poke and prod the Steam Deck to show off that power, provided by the custom AMD-built Aerith APU system running Zen 2 processor graphics, Radeon-powered RDNA 2 graphics, and 16GB of fast LPDDR5 RAM. Both testers found that the system could breeze through low-power 2D games like the excellent Dead Cells without breaking a sweat, easily doubling (or tripling) the hardware's 60Hz limit. Linus even went so far as to call the Steam Deck “arguably the most innovative gaming PC in 20 years, or more.”
More Steam Deck coverage:
- Why does the Steam Deck run Linux? Blame Windows
- Valve Steam Deck vs. Nintendo Switch: Which gaming handheld should you buy?
- What is Valve Proton? The Steam Deck's live-or-die Linux software, explained
Steam Deck game performance
More intense AAA games had a lot more variables. Well-optimized games tended to perform quite well on the basic Linux-based SteamOS system (Windows will also be an option, but wasn't available for testing). Devil May Cry 5, with its non-stop combat action, was a standout, never dropping under 60 frames per second for either tester. Ghostrunner, a similarly intense action game, also had good performance: Gamers Nexus clocked it at 64 frames per second with ray tracing disabled (40 frames per second docked to a full 1080p display), while Linus reported that it sometimes jumped up to as much as 90 frames per second.
Other games were less eager to perform on the portable hardware. Control would dip into the 30 FPS range in areas, and Forza Horizon 5 with its intense lighting engine and open world would show odd physics issues even as it stayed at 60. Even with Valve's pre-selected collection of games, it's clear that some will run better than others, and possibly benefit from some driver tweaking — the same situation PC gamers have been in for decades when new games and/or graphics cards are released.
Steam Deck battery life
Of course, with a portable system the games themselves are only part of the equation. Battery life was always a concern with what's essentially a tiny PC shoved into a controller housing. Valve claims the Steam Deck can handle between 2 and 8 hours unplugged, depending on the intensity of the games (or streaming applications) being run. Of course, that's running games on the native Linux-based SteamOS installation, not Windows.
Valve
Gamers Nexus found those predictions a bit optimistic, never going beyond 6 hours of battery life, even with low-power games and streaming. Triple-A games got as little as 90 minutes of gameplay with player input, necessitating a full three-hour recharge session. “You'll want V-Sync and capped framerates while on battery, otherwise you're not gonna get anywhere close to the numbers that Valve has published in its specs tables,” GN editor-in chief Steve Burke declared. “We think that's reasonable and makes sense; you need to trade off somewhere for a battery-operated device.”
Linus found an average of 3.3 to 8 hours of life, but that video does not specify that continual gaming input was tested. Between the two, it's clear that battery life will be highly variable based on what game is being played, and intercontinental flights will all but demand a charger or extra power bank.
Ergonomics and gameplay
So that's the hardware side of the equation, at least until more people can compare Valve's homegrown Linux-based SteamOS and the heavier but more flexible (at least in gaming terms) Windows operating system. But how does the Steam Deck perform as a portable game machine? The device is absolutely gigantic in those specific terms, far larger than the Nintendo Switch and even PC-based alternatives like the Aya Neo or GPD Win 3.
Valve
Linus has almost nothing but praise for the physical design of Valve's 7-inch game machine. The inputs consist of dual sticks plus D-pad, A/B/X/Y, and double shoulder buttons, as would be expected of any modern gaming machine. But it also has four paddle buttons on the back, a la the Xbox Elite Controller and similar premium designs, plus two small haptic trackpads inherited from Valve's previous work on the Steam Controller. Between all of these varied inputs, and Valve's software allowing users to customize controls for everything from racing games to shooters to top-down strategy titles.
And for the most part, Linus reports, it's incredibly effective. He says the Steam Deck's feel is “right up there with all my favorite console controllers,” intelligently enhanced by Valve's hardware design that keeps hot spots away from points of skin contact. (Gamers Nexus found that the hardware throttles itself to keep internal temperatures at or below 90 degrees Celsius, calling the thermal design “impressive and executed extremely well for how small the device is.”) That said, Linus did note that people with smaller hands might have trouble reaching the shoulder or A/B/X/Y buttons, depending on grip, but that this wouldn't be a problem for most. He also praised the screen's ability to become ultra-dim indoors, and the speaker's wide range of fidelity (comparing them to those on the MacBook Pro).
While early previews praise the touchpad controls, they find the haptic feedback lacking.
Valve
The one downside? Haptic feedback. While console gamers and people who use a controller on PC have more or less come to expect vibration as a subtle way to enhance immersion, Valve couldn't find space or power in the Steam Deck to include conventional vibration motors, instead leaving only the comparably weak haptic feedback of the touchpads (again, see the Steam Controller). Linus says that this is a notable low point in the design: “At the moment, haptics on this device are a poo stain on an otherwise crisp, white sheet.”
Three weeks left
We still have very little insight into how SteamOS will look on the Steam Deck, handling PC gamers' libraries of hundreds of games and syncing progress across existing hardware and portable play, to say nothing of how non-Steam games will play, either on SteamOS or Windows. Just today Epic said it's not interested in creating a Linux version of Fortnite for the Steam Deck, despite fighting for over a year to get it back on mobile game stores.
Even so, these incomplete glimpses of the Steam Deck will surely be enough to convince some to pull the trigger on a purchase, especially if they already have a huge library of Steam games. With a starting price of just $399 — less than half that of competing PC-based portable machines — it's an incredibly tempting bit of hardware, especially for those who can use Steam's streaming feature to bolster it for games that simply demand full desktop power.
We'll have to wait for February 25th, when the first round of final Steam Deck hardware makes its way into the hands of consumers, for a truly complete look at this device. But the initial glimpses show that Valve might just be able to deliver on its big promises, at least in some situations and for some games.
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