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Automotive Monthly Newsletter and Podcast
This month's theme: India's Decarbonization Goals and the EV Conundrum

LISTEN TO THIS PODCAST

Electric vehicles (EVs) have occupied a lot of media space of late and are widely regarded as the next big breakthrough technology in the automotive world. Although EVs are as old as motor vehicles themselves, they lost the race to internal combustion engine (ICE) vehicles, running on liquid fuel, by the early 20th century. But with the rising threats of global warming and air pollution, EVs are back on the discussion tables of policymakers. ICE-powered conventional vehicles emit several pollutants, among which carbon dioxide (CO₂) is considered the most concerning emissions from a climate change perspective.

India is the third-largest emitter of CO₂ in the world, behind mainland China (almost four times of India) and the United States (two times of India), with its annual CO₂ emission doubling in the last decade. Although India's contribution to the cumulative global CO₂ emission, since the industrial revolution of the mid-19th century, is insignificant, its current position as an emerging economy and hence a big CO₂ emitter comes under environmentalists' lenses. Ever since the formation of the United Nations Framework Conventions on Climate Change (UNFCCC), India's position has been to put its socio-economic development above the resultant CO₂ emissions and refrain from putting itself in the same carbon-reduction target brackets as the developed nations. Nonetheless, India has been an active and important party in all global climate action summits and conferences, negotiating for emerging economies who came late to the 'development' party.

This stance remained consistent until 2014 when a new government came to power that had intentions of not only being a mere party in global climate action strategies but of taking a leadership position. Eventually, India ratified the Paris Agreement during the COP21 held in 2015 and pledged to reduce the carbon intensity of its economy by 33- 35% by 2030 compared with 2005 levels and committed to achieving a non-fossil share of cumulative power generation of 40% by 2030. India also announced to install 2.5-3 billion tons of CO₂ equivalent carbon sink by 2030.

In 2013, under the National Electric Mobility Mission Plan (NEMMP), it was envisioned to transform the mobility landscape in India and make EVs an important part of it. As a result, a new EV promotion scheme was drafted by the Ministry of Road Transport and Highways (MoRTH). By the time it was rolled out in April 2015, it was named the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme and a new government was in power. The creation and expansion of the low-speed e-scooter segment aside, Phase 1 of FAME (April 2015 to March 2019) did not exactly produce the results as intended.

Considering India's Paris Agreement goals and COP21 commitments, the government redesigned Phase 2 of the FAME scheme—an outlay of INR10,000 crore (USD1.4 billion) over three years starting April 2019 and focusing on 2-wheelers (2W)/3-wheelers (3W)/bus segments that move about 85% of the people of India. Simultaneously, EVs were brought under the 5% bracket of GST to entice automakers into launching new EV offerings, and an additional income tax reduction clause was introduced as an additional incentive for prospective EV buyers. However, after two years of Phase II, about 2% of the total outlay for this phase got utilized. In this period, the sales figures tell a sorry tale—fewer than 10,000 electric passenger vehicles (PVs) and fewer than 300,000 electric 2Ws were sold.

In 2021, Primer Minister Narendra Modi announced at COP26 that India would achieve net-zero emissions by 2070. Road transport is expected to be a significant contributor to India's decarbonization plans. According to the International Energy Agency (IEA), transportation sector is the third-largest CO₂ emitter in India, following the energy sector (i.e., electricity and heat producers) and the industry sector. Road transport, estimated to account for about 270- 290 metric tons (Mt) CO₂ emissions and 18% of India's total CO₂ emissions in 2020, is the top contributor in the transportation sector carbon emissions and emits more than the energy-intensive industries such as steel (242 Mt CO₂ in 2020) and cement (143 Mt CO₂ in 2020) production. The business-as-usual development mode is expected to result in 1.2- 1.5 Gt CO₂ emissions from the transportation sector in 2050, according to multiple research sources.

India's light-duty vehicle fleet has advanced to fuel consumption reduction from 6.9 L/100 km in 2005 to 5.7 L/100 km in 2019, contributed by higher diesel vehicle share and overall lighter vehicle weight. However, increased personal vehicle ownership and use is foreseen with the economic and pollution growth combined, and will inevitably result in more annual CO₂ emissions in the short term. The transportation sector may have to lag the overall 33- 35% decarbonization goal from 2005 levels (i.e., 115 Mt CO₂ sector level) by 2030, thus needing significant innovative technologies, strategic planning, and effective regulatory leverages to keep the sector aligned with the net-zero climate ambition. Acceleration in further vehicle efficiency improvement, fleet electrification, alternative fuels, along with mobility mode innovations will be the key solutions.

India has required fuel efficiency labeling for new vehicles since 2011 and regulated PV fuel efficiency since 2014. The current target is 4.77 L/100 km (113 g/km CO₂ equivalent) for 2022 based on the New European Driving Cycle (NEDC). The FAME II scheme has been extended through 2024 to promote EV production and charging infrastructure deployment.

Overall, considering the level of visibility on the policy front, carmakers' product development strategies, oil price, and consumer evolution, we expect the share of EVs to reach about 9% by 2030 in a base case scenario. But if policy support in terms of the special tax on manufacturing and sales and direct subsidy continues, with stricter CO₂ regulations, the share of EVs could be higher ranging from 16% to as high as 21% by 2030.

Having said that, fiscal year (FY) 2021 (April 2020 to March 2021) had been a positive year as sales of electric PVs grew 110% owing to a low base; from about 2,850 units in FY 2020 to about 6,000 units in FY 2021 as reported by the Society of Electric Vehicle Manufacturers (SMEV) of India. And the electric PVs sales for the first half of the current FY 2022 have already crossed the FY 2021 annual sales. The main driver for this was the introduction of EV policies by several states of India led by Maharashtra, New Delhi, and Gujarat, which acted as an additional incentive over the FAME subsidies.

Interestingly, in the EV space, domestic carmakers have taken a lead as Tata Motors currently holds almost 60% of the market. IHS Markit's estimates show that Tata Motors will continue to maintain a leadership position even in the longer horizon. We do expect the current conventional vehicles market leaders such as Maruti Suzuki and Hyundai, and other carmakers like Mahindra and Kia to introduce serious EV products into this space in the next four to five years.

Overall, considering the level of visibility on the policy front, carmakers' product development strategies, oil price, and consumer evolution, we expect the share of EVs in Light Vehicles (LVs) up to 3.5 tons of Gross Vehicular Weight to reach about 9.3% in 2030 (as shown in the figure). Within LVs, we expect the Light Commercial Vehicles (LCV) category to achieve greater electrification of about 15% by 2030.

For the PV category, the share is expected to be about 8.3% in 2030 in a base case scenario. The B-segment SUV-bodystyle is expected to be the most popular segment for EV adoption. If policy support in terms of the special tax on manufacturing and sales and direct subsidy continues, with stricter CO₂ regulations, the share of EVs could be higher ranging from 16% to as high as 21% by 2030.

Notes:

1. The data and chart used in the article are based on the Production-based Powertrain dataset. Currently in India, almost 100% of EV production is for domestic sales and hence production can be used as a reliable proxy for sales.
2. EV in this article only represents pure Battery Electric Vehicles.

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HIROSHIMA, Japan, Feb 25, 2022 - (JCN Newswire) - Mazda Motor Corporation's production and sales results for January 2022 are summarized below.

I. Production

1. Domestic Production
Mazda's domestic production volume in January 2022 decreased 2.0% year on year due to decreased production of passenger vehicles.

[Domestic production of key models in January 2022]
CX-5: 33,636 units (up 22.8% year on year)
MAZDA3: 9,867 units (down 13.3%)
CX-30: 5,997 units (down 20.6%)

2. Overseas Production
Mazda's overseas production volume in January 2022 decreased 13.6% year on year due to decreased production of passenger and commercial vehicles.

[Overseas production of key models in January 2022]
CX-30: 13,449 units (up 11.6% year on year)
MAZDA3: 13,332 units (up 39.9%)
MAZDA2: 4,080 units (down 13.3%)

II. Domestic Sales

Mazda's domestic sales volume in January 2022 decreased 16.5% year on year due to decreased sales of passenger and commercial vehicles.

Mazda's registered vehicle market share was 5.1% (down 0.1 points year on year), with a 2.0% share of the micro-mini segment (down 0.1 points) and a 3.9% total market share (down 0.1 points).

[Domestic sales of key models in January 2022]
CX-5: 2,233 units (up 9.7% year on year)
MAZDA2: 1,822 units (down 6.6%)
CX-30: 1,724 units (down 33.1%)

III. Exports

Mazda's export volume in January 2022 decreased 11.8% year on year due to decreased shipment to Europe and other regions.

[Exports of key models in January 2022]
CX-5: 25,793 units (up 15.9% year on year)
MAZDA3: 6,227 units (down 51.5%)
CX-9: 4,736 units (down 7.3%)
IV. Global Sales

Mazda's global sales volume in January 2022 decreased 7.7% year on year due to decreased sales in Japan, the U.S., China and other regions.

[Global sales of key models in January 2022]
CX-5: 32,580 units (up 2.5% year on year)
MAZDA3: 23,174 units (up 3.3%)
CX-30: 13,475 units (down 18.4%)

For more information, visit https://newsroom.mazda.com/en/.


Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comMazda's domestic production volume in January 2022 decreased 2.0% year on year due to decreased production of passenger vehicles.

TOKYO, Feb 25, 2022 - (JCN Newswire) - NEC Corporation (NEC; TSE: 6701) has dramatically expanded its open RAN Radio Units (O-RUs) portfolio with the introduction of several new products and configurations. These 18 new Radio Units help NEC maintain its leadership position in the O-RU segment as ORAN deployments gain momentum globally. The new RU products complement NEC?s existing portfolio to help meet the demands of private and public mobile networks that will drive Open RAN initiatives forward this year.

These launches add new configurations (4T4R, 8T8R, 32T32R, 64T64R) to NEC?s industry-leading portfolio of massive MIMO radios. All the new configurations are built on modular platforms, allowing fast time to market and adaptation to customer-specific needs. For instance, the majority of the new RUs are available in 5G NR and 4G LTE with dual-band versions for the most popular band combinations. Network operators will benefit from several technological advancements, including natural convection cooling, high performance digital beamforming, small volume and weight and aggressive cost-efficiency.

Patrick Lopez, NEC's global VP for product management 5G, commented, "NEC has been at the forefront of Open RAN and massive MIMO deployments at scale in commercial urban environments. These additions to our portfolio, featuring new configurations and bands, enable us to address the overall RAN market. This is a great advancement for NEC Open Networks, our radically open approach to deliver an end-to-end portfolio of products and services, within an open multivendor ecosystem, that allows operators to pick and choose options fitting their needs and strategic objectives."

Operators around the globe are accelerating 5G deployments to enhance coverage and network capacity in a wide range of environments, including dense, urban areas with high-rises, urban locations with mid-rise structures, rural areas, broadband hot-spots and enterprises.

Customers are looking towards Open RAN as a game-changing alternative to the closed architecture of incumbent equipment suppliers. NEC has taken an active role in driving the need for Open RAN solutions, incorporating superior radio architecture design with cost and power efficiency and using state-of-the-art silicon and RF components to achieve a smaller form factor with modular design.

NEC will be presenting its industry leading NEC Open Networks at MWC Barcelona 2022, at Fira Gran Via, Hall 2 2F10

https://www.nec.com/en/event/mwc2022/

About NEC Corporation

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.


Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comNEC Corporation has dramatically expanded its open RAN Radio Units (O-RUs) portfolio with the introduction of several new products and configurations.

HONG KONG, Feb 25, 2022 - (ACN Newswire) - Pentamaster International Limited ("PIL" or "the Group") which is listed under the Main Board of The Stock Exchange of Hong Kong Limited announced its financial results for the year ended 31 December 2021 today. The Group hit a new record in its 2021 revenue, registering at MYR508.1 million, whilst its net profit stood at MYR116.7 million for the financial year ended 2021; marking an improvement of approximately 21.4% and 2.5% respectively from the corresponding period last year.
The overall performance of the Group recovered commendably in 2021, with growth driven by improved contributions from both the ATE and FAS business segments with each segment accounting for approximately 70.1% and 29.9% of the total Group's revenue, as compared to 2020 of 67.6% and 32.4%, respectively.

ATE segment

With a revenue contribution rate of 70.1%, the ATE segment continued to contribute the larger portion of the Group's overall revenue and profit. After witnessing a decline in revenue last year, total revenue from this segment marked a turnaround and grew at a double-digit rate of 22.6% to MYR358.4 million. During the year, backed by the recovery of the smartphone market and its peripheral items. the electro-optical industry continued to dominate the ATE segment with its revenue contribution rate of approximately 49.7%, derived from abroad
the product portfolio of the Group in its test solutions for the proximity sensor, 3D magnetometer sensor, ambient light sensor, wafer-level VCSEL (Vertical-Cavity Surface-Emitting Laser) and other relevant applications under optics and photonics sensing solutions.

Owing to the Group's persistent effort in increasing its exposure to the automotive industry, revenue from this sector came in as the second-highest within the ATE segment with its contribution rate of 27.6%. In addition, the automotive sector chalked the highest growth rate at 39.9% among other industry sectors within the ATE segment. This strong demand was largely attributed to the Group's automotive test solutions covering a full range of assembly and test technologies for various aspects of the manufacturing process ranging from the component test, final test to packaging. During the year, the ATE segment was also benefitted from the semiconductor industry with its revenue contribution rate of 20.0%, where this sector captured a 26.8% growth as compared to 2020 from the continuous demand for the Group's test handling equipment which was underpinned by the growth of integrated chips and other related semiconductor contents from the acceleration of digital transformation by the pandemic over the past two years.

The ATE segment will continue to dominate the performance of the Group in the foreseeable future. With the global pandemic unleashing the unprecedented wave of technology developments coupled with the power and momentum of technology convergence, the Group is in a promising position to leverage on these significant opportunities in the ATE segment.

FAS segment

After recording a strong revenue growth in the year 2020, the FAS segment continued to witness a double-digit growth rate in its contribution to the Group's revenue, chalking 12.3% growth to achieve MYR155.3 million during the year. This was mainly driven by the robust demand for the Group's proprietary i-ARMS solutions, where a wider customer base adopted this application across different industry segments in different countries and regions. Notably, this segment gained its revenue momentum in the third and fourth quarters of the year, with revenue in the second half of the year exceeding its first half by approximately 19.5%. The main industry segment that led to FAS growth was the consumer and industrial product segment, contributing approximately 45.4% to overall FAS segment revenue. This was followed by the electro-optical segment and medical device segment with its respective revenue contribution rate of 30.4% and 19.3% where the application of the Group's i-ARMS was equally prevalent in
these segments.

The Group continues to witness huge potential and opportunities in its FAS segment given the fundamental shift towards factory automation and smart manufacturing across various industries, especially in a post-pandemic environment. With the current automation trend, the Group will continue to broaden and enrich the capability of its automated solutions to capture the growth from these developments in the years ahead.

Outlook

"It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change."

The COVID-19 pandemic has dramatically and fundamentally altered the way we live and work. From social distancing, quarantine, closed borders, travel bans to the buzzword "home office" have never been mandated on such a large scale. The Group, however, navigated the "unsettling" effects of the pandemic and ended the financial year relatively "healed". Such accomplishment has demonstrated the Group's resilience in taking on the undeniable challenges that demand new ways of operating in a post-pandemic business environment and its versatility and speed in emerging strongly owing to the hard work and concerted efforts of the employees of the Group.

As the saying goes, every cloud has a silver lining. The pandemic has pushed many companies over the technology tipping point and with the surge in automation, digital adoption has taken a quantum leap across many companies and industries. As a result of these developments, the Group embraces 2022 with increased optimism on the back of a strong order book momentum largely driven by another high growth potential year surrounded by several catalysts brought about by AI, big data analytics, IoT, self-driving cars, Industry 4.0 and the deepening application of 5G. With the electro-optical segment currently dominating the Group's financial performance, this segment will continue its growth momentum in 2022, albeit modestly, given the Group's growing exposure to other industry segments. In respect of the automotive segment, the Group expects to witness the continuous affluence of this segment with e-mobility emerging at an accelerated pace. With electrification playing an important role in the transformation of the transportation industry and thereby presenting major opportunities in all vehicle segments, the global transition specifically towards electric vehicles ("EV") continues to get momentum and creates major disruption in the automotive industry and the related nexus. Significant efforts are witnessed through regulators worldwide defining more stringent emissions t argets which include, among others, the European Union CO2 emissions regulations for cars and vans, China's New Energy Vehicles (NEV) mandate and Biden's administration is introducing a 50% EV target by 2030. Given this context, the Group anticipates a favorable prospect for its automotive test solutions from front-end to back-end which will continue to provide an impetus to the Group's overall performance.

In the belief that there is so much room and business opportunity for further expansion and that now is the best time to be planning for the future, the upcoming new manufacturing plant will pave the way for the Group to deepen its foothold in the medical device segment and bring the growth of its FAS segment to the next level. Key technologies that have been used widely in industrial manufacturing are seen to be filtering into the healthcare sector and with AI conquering the next frontier of the medical segment, the automation opportunity within this horizon is now abundant. With these technology developments presented, the Group is heartened to witness the growing demand for its automated assembly solutions from a broader customer base within the medical device segment on the back of an encouraging booking momentum. Together with the setup of Pentamaster MediQ Sdn. Bhd. for its involvement in the manufacturing of single-use medical devices, the Group is fully prepared for the huge market opportunities in the medical industry. Having continuously witnessed revenue growth from the FAS segment in the past two years, the Group continues to benefit from the increased focus of various industries on industrial automation which is now rapidly necessitated by the effects of the pandemic. As the surge in automation continues in the coming years with the use of AI and IoT in the manufacturing processes, the huge potential and opportunities in the FAS segment will be prevalent. Girded by a year of relatively stable financial performance in 2021, the Group will continue to focus fundamentally on its operational capabilities and remain proactive in the development of new cutting-edge technologies and solutions. With a wide variety of challenges and opportunities confronting 2022, the Group, having the pulse on the global trends and requirements, is forward-looking in building another year of solid business growth. As it is, the virus is here to stay for a period of time and will be a reality in our daily lives. The Group's priority is to ensure the safety of its employees with its strict adherence to the necessary safety measures and operating procedures.

About Pentamaster International Limited

PIL (HKEX stock code: 1665) is a leading global supplier in providing automation technology and solutions to multinational manufacturers mainly in the semiconductor, automotive, electrical & electronics, medical devices and consumer industrial products sectors spanning APAC, North America and Europe. The Group's broad range of integrated automation products and solutions entails innovating, designing, manufacturing and installing automated equipment and/or automated manufacturing solutions.

To learn more about PIL, please visit us at www.pentamaster.com.my.

For media enquiries, please contact:

Email: investor.relation@pentamaster.com.my


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comPentamaster International Limited ("PIL" or "the Group") which is listed under the Main Board of The Stock Exchange of Hong Kong Limited announced its financial results for the year ended 31 December 2021 today.

Coinbase Global Inc (Nasdaq: COIN) has generated $2.5 billion in revenue in the fourth quarter of 2021. It was a substantial gain from the previous quarter’s $1.

HONG KONG, Feb 25, 2022 - (ACN Newswire) - Transmit Entertainment Limited ("Transmit Entertainment" or the "Company", together with its subsidiaries, the "Group"; stock code: 1326) today announced its unaudited interim results for the six months ended 31 December 2021 (the "Review Period").

During the Review Period, the Group further advanced the "Stay-at-Home Economy" and its development strategy of brand diversification. Mainland China continued to be the major source of the Group's revenue and business growth. The Group's proportion of revenue from Mainland China recorded a year-on-year increase of 17.7 percentage points to approximately 96.8%. The Group recorded outstanding results during the Review Period, amounting to approximately HK$587.2 million, representing an increase of approximately 265.2% as compared to the corresponding period last year. The Group's turnaround was mainly due to the airing of "The Ideal City", an inspiring urban workplace TV series and "The Detectives' Adventures", a megahit mystery solving reality show, which drove a significant year-on-year revenue growth of approximately 1,296.4% to approximately HK$502.2 million for the film, TV series and variety show production and distribution segment; and the Group completed the disposal of partial equity interests in the film exhibition business in May 2021, which reduced both the sales and distribution expenses of the related film exhibition business. During the Review Period, the Group recorded the profit attributable to the owners of the Company of approximately HK$10.6 million.

Business Review
Keeping up with the development of the industry and the entertainment tastes of young viewers, the Group has continued to focus on developing and producing contents of outstanding film, TV series and variety show, while actively exploring innovative business models such as web series, online movies and short videos. "The Ideal City" aired on the video website iQIYI and numerous first-tier TV stations across the country, ranking first in the CSM63 TV series viewership ranking, as well as receiving more than ten industry honors and awards including being shortlisted for the 2018-2022 List of Key TV Series Planning and Theme of the National Radio and Television Administration, and was recognized as the "2021 Outstanding Show Broadcasting Overseas" by the National Radio and Television Administration. "The Detectives' Adventures" creatively reinterprets a classic film and television copyright through live action role playing, introducing a production model for detective-themed variety show that appeals to audiences of all ages, successfully gaining multiple industry awards, including the 2021 Internet Viewing + Ranking Internet Varity Show of the Year and the Innovative Variety Show of the Year of the Sixth New Recreation . New Consumption etc. On the other hand, the scriptwriting team of the Group participated in popular TV shows such as the Lantern Festival Gala of the China Media Group and the variety show "Super Sketch Show", continuously spurring related discussions and becoming a trending topic in multiple platforms.

Considering that the COVID-19 pandemic has brought about a challenging business environment for the film exhibition business, the Group disposed partial equity interests in the film exhibition business to reallocate financial resources to other businesses with higher development potential, thereby generating more returns for shareholders of the Company (the "Shareholders"). The disposal transaction was completed on 26 May 2021. Thereafter, in accordance with a management agreement and a supplemental agreement entered by the Group with Cinema City (WL) Limited and Mandarin Motion Pictures Limited, the Group earns fees for the operation of Langham Place Cinema during the term of the agreements. The management believes that the above-mentioned strategic measures will proactively pose a positive impact on the Group's future results and financial performance.

The Group continued to improve its industry chain and broaden its revenue base, and its artistes and internet celebrities continued to be more influential in market segments. During the Review Period, the Group's artistes starred in many TV series and movies, and participated in many endorsement activities. Among which, Yang Chaoyue starred in two costume TV dramas "Chongzi" and "The Seventh Generation", and Li Yitong starred in TV series such as "Warm Cold Nights In The Nine Heavens", "Spy Game" and "Punch Out".

Outlook
Looking forward, the Group will continue to focus on the development of film and TV series production business as well as artiste and internet celebrity agency business in Mainland China, and strives to create a pan entertainment ecosystem and integrate upstream and downstream industry chains, while proactively expanding various realization channels from the downstream industry chains in a bid to attain the strategic deployment of fusing its strengths and resources. Taking advantages of the ample resources of online platforms, the Group will continue to focus on producing quality film and TV series content, while actively diversify the revenue base by continuously identifying business opportunities in relation to the "Stay-at-Home economy" on four aspects including online stream, short videos, internet celebrity cultivation and traffic monetization.

The Group is currently producing a number of projects, including an urban mystery TV series "Frozen Surface" and the third season of variety show "I Love You, Me Too". With the good viewing performance and online popularity of the work, the Group plans to create a self-developed multi-season variety show brand by producing the third season of "I Love You, Me Too" and the second season of "The Detectives' Adventures". In addition, the Group will develop and produce films and TV series on a number of popular copyrighted works of fiction including "Love Destiny", "Wishful Egg", "Romance in the City", "Peach Blossom Debt", "Queen of the Sea" and "Locard's Theory".

Ms. Zhao Wen Zhu, President and Executive Director of Transmit Entertainment, said, "Although the industry was still plagued by the COVID-19 pandemic and the market sentiment, the Group realized a turnaround during the Review Period, benefited from tapping the 'Stay-at-Home Economy' and brand diversification development strategies. Significant growth from the segment of TV series and variety shows production fully demonstrated the outstanding competitiveness of our production team, which helps the Group proactively seize enormous business opportunities in the China market and continue to drive business growth. Transmit Entertainment will further utilize its whole industry chain capabilities to continuously enhance its profitability and extend our competitive edges in the industry, and generate sustainable and satisfactory returns to our shareholders."

About Transmit Entertainment Limited (stock code: 1326)
Transmit Entertainment Limited is a fully-integrated media and entertainment company that empowers the consumer industry. It principally engages in (i) film, TV series and variety show production and distribution; (ii) film exhibition; and (iii) pan-entertainment (including internet celebrities and artiste agency, and pan-entertainment businesses along the value chain). The Group strives to implement the development strategy in relation to the stay-at-home economy and brand diversity through combining resources of scriptwriting, d irection and celebrity to cultivate, explore and create popular films and television copyrights by continuously offering quality content and nurturing talented artistes in order to develop its self-owned full industry chain model and construct a unique soft-power moat.

Taking advantages of online platforms to cultivate new artistes and celebrities, the Group proactively explores and develops self-owned retail brand targeting young consumers to further diversify the revenue base by identifying business opportunities in relation to the stay-at-home economy on four aspects, including online stream, short videos, celebrity cultivation and traffic monetization, which eventually forms a business model with the Group being the center supported by film, television and variety show. The Group also expands its business through partnership and enriches its industry chain with self-developed products, forming an integrated upstream and downstream industry chain to fully seize the new opportunities arising from the pan-entertainment business.



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comTransmit Entertainment Limited ("Transmit Entertainment" or the "Company", together with its subsidiaries, the "Group"; stock code: 1326) today announced its unaudited interim results for the six months ended 31 December 2021 (the "Review Period").

Increasing adoption of cryptocurrency across the globe is driving blockchain market revenue growth The Blockchain Market size is expected to reach USD 173.78 Billion in 2028 and register a revenue CAGR of 64.3% over the forecast period, according to the latest report by Reports and Data. The surge in data and identity theft activities is driving blockchain […]

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SHAH ALAM, Malaysia, Feb 25, 2022 - (ACN Newswire) - Leon Fuat Berhad ("Leon Fuat" or the "Group"), a manufacturer and trader of steel products, specialising in rolled long and flat products today released the Group's financial results for the fourth quarter ended 31 December 2021 ("Q4FY2021") recording 61.8% growth in profit after tax ("PAT") to RM29.09 million compared with RM17.98 million in the corresponding quarter of the preceding year ("Q4FY2020").
The Group is pleased to note that for the quarter under review, revenue increased by 27.8% to RM254.21 million compared with RM198.96 million in Q4FY2020 while profit before tax ("PBT") recorded a 106.5% increase to RM38.61 million compared with RM18.70 million.

On a segmental basis, revenue from trading of steel products registered a 26.5% increase to RM81.95 million while revenue from processing of steel products recorded a 28.4% rise to RM172.18 million. The trading segment's contribution to revenue stood at 32.2% in Q4FY2021 compared with 32.6% in the corresponding quarter of FY2020 while the processing segment's contribution stood at 67.7% compared with 67.4% in Q4FY2020.

For the financial year ended 31 December 2021 ("FY2021"), PAT grew 377.6% to RM135.98 million compared with RM28.47 million in the preceding financial year. PBT increased 418.1% to RM172.85 million compared with RM33.36 million while revenue gained 50.4% to RM886.58 million compared with RM589.58 million registered in FY2020.

Calvin Ooi Shang How, Executive Director of Leon Fuat said, "The Group's financial performance for the quarter under review was supported by higher revenue and better gross profit margin from the rise in average selling prices in both the trading and processing of steel products. For the financial year as a whole, revenue was also supported by higher overall average selling prices that also resulting in better overall gross profit margin".

"We are maintaining our cautious outlook for 2022 on downside risks arising from decelerating economic growth amid continued COVID-19 flareups across the world, diminishing policy support and lingering supply bottlenecks. While the Malaysian economy is expected to grow by 5.5% to 6.5% this year on continued external demand and private sector expenditure, we note concerns over new virus variants, inflation and financial stress that could weigh on economic recovery too".

"We will continue to monitor the movement of steel prices as we anticipate commodity price volatility due to global factors. Our monitoring will also continue for foreign currencies while negotiating forward contracts where necessary and having prudent inventory management. The Group will continue to actively address COVID-19 concerns by adhering strictly to standard operating procedures and having in place emergency response teams in three of our major subsidiaries".

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comLeon Fuat Berhad ("Leon Fuat" or the "Group"), a manufacturer and trader of steel products, specialising in rolled long and flat products today released the Group's financial results for the fourth quarter ended 31 December 2021 ("Q4FY2021") recording 61.8% growth in profit after tax ("PAT") to RM29.09 million compared with RM17.98 million in the corresponding quarter of the preceding year ("Q4FY2020").