(Hong Kong－5 December 2022) A leading technology, brand, and manufacturing solutions specialist focusing on smart and sustainable living – Computime Group Limited (“Computime” or the “Company”, together with its subsidiaries the “Group”, stock code: 320.HK) is pleased to announce that, two of its subsidiaries, Computime Control Devices Manufacturing (Shenzhen) Co. Ltd. and Computime Electronics (Shenzhen) Co. Ltd., have received the “Certified” Label and “Sliver” Label respectively from World Wide Fund for nature (“WWF”) respectively, regarding their participation and satisfactory performance in the Low Carbon Manufacturing Programme (“LCMP”).
WWF, an international non-governmental organization that works in the field of wilderness preservation and the reduction of human impact on the environment, organizes the LCMP, aimed to cut carbon emissions generated by manufacturing facilities and developing environmental social governance for manufacturers. By providing manufacturers with a carbon accounting and labeling system, LCMP helps to measure their effectiveness in reducing carbon emissions, as well as to equip them with best practices in greenhouse gas management. The two subsidiaries from Computime were honored to receive the designation, with WWF highlighting their respective contribution in both energy-and-cost-saving in manufacturing.
Mr. AUYANG Pak Hong Bernard, Chairman, Chief Executive Officer and Executive Director of Computime Group Limited, commented: “We are honored to be recognized by WWF, the world-renowned organization focusing on sustainable development. As a smart and sustainable living enabler, we see the growing importance of low-carbon manufacturing practices, whether it is from the consumer end, or from the view of our branded partners. We believe the certification will further highlight our competitive advantage, as we strive to offer sustainable practices and cost-competitive solutions. Looking ahead, we will remain committed to driving the green transformation of the industry, and charging towards a greener and more sustainable future.”
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Resilient Business Performance amid Macro Uncertainties
Revenue Increased by 13.8% YoY to HK$2,090.5 million
Gross Profit Increased by 4.6% YoY to HK$ 267.5 million
Financial Highlights
For the six months ended 30 September FY2022
HK$ million FY2021
HK$ million Change
Revenue 2,090.5 1,836.2 +13.8%
Gross profit 267.5 255.8 +4.6%
Gross profit margin(%) 12.8% 13.9% -1.1p.p.
Profit attributable to owners of the Company 30.2 34.2 -11.6%
EBITDA 138.7 118.0 +17.5%
Basic earnings per ordinary share (HK cent(s)) 3.58 4.06 -11.8%
(23 November 2022 – Hong Kong) A leading technology, brand, and manufacturing solutions specialist focusing on smart and sustainable living, Computime Group Limited (the “Company” or “Computime”, together with its subsidiaries, collectively the “Group”; stock code: 320.HK) is pleased to announce its interim results for the six months ended 30 September 2022 (the “Period”).
Results Overview
Despite the prevailing conservatism among industry players and end consumers, the Group was able to leverage its technological capability and customer stickiness, in securing a steady increase in orders across both operating segments during the Period. Hence, total revenue increased 13.8% year-on-year (“YoY”) to HK$2,090.5 million (1HFY21/22: HK$1,836.2 million). As a result of the increase in revenue, gross profit also increased 4.6% YoY to HK$267.5 million (1HFY21/22: HK$255.8 million), yet gross profit margin suffered a drop of 1.1 percentage point to 12.8% (1H FY21/22: 13.9%), mainly due to the depreciation of European currencies as well as the spike in raw material and logistics costs. Coupled with the sharp increase in interest rate, as well as the increase in interest-bearing bank borrowings in support of various corporate projects, profit attributable to owners of the Company decreased 11.6% YoY to HK$30.2 million (1H FY21/22: HK$34.2 million). On the other hand, EBITDA for the Period increased from HK$118.0 million last year, to HK$138.7 million this year.
The Group also remained its prudent approach in managing its financial. As at 30 September 2022, cash and cash equivalents increased 16.9% to HK$406.4 million (as at 31 March 2022: HK$347.7 million), with trade receivables greatly improved as it decreased from HK$499.2 million, to HK$365.2 million, despite an increase in total revenue. Trade and bills payables also increased from HK$807.0 million to HK$943.1 million, whereas inventories increased 19.5% to HK$1,118.1 million (as at 31 March 2022: HK$935.9 million), largely due to the integration of Braeburn Systems LLC’s (“Braeburn”) inventories as well as the advanced preparation of materials amid global unpredictability. Gearing ratio maintains at a healthy level at 44.0%, slightly above last fiscal year end at 40.8% as at 31 March 2022.
Overall, the Company was able to report an improvement in its cash conversion cycle to 46 days during the Period (1H FY21/22: 53 days), and that should provide enough agility for the Company to navigate the fluctuating market.
Segment Review
The Group continues to advance smart and sustainable living through its two key operating segments, with Control Solutions focusing on the design, engineering, technology and manufacturing solutions of heating, ventilation, and air conditioning, home appliance and industrial controls for international branded customers, whereas its Branded Business offers smart home, energy efficient, and environmental control products to professional installers, property developers, and wholesalers under its house brand Salus.
During the Period, revenue of Control Solutions reached HK$1,863.6 million (1H FY21/22: HK$1,656.0 million), representing a YoY growth of 12.5%, thanks to the increase in order volume during the Period. However, despite the Group’s best effort in cost control and price adjustment, segment profit margin decreased 1.2 percentage point to 6.6% (1H FY21/22: 7.8%), as a result of the surge in material and the depreciation of European currencies.
Benefitted from the contribution of the top-up investment in Braeburn, revenue of Branded Business increased 25.9% YoY from HK$180.2 million last year, to HK$226.9 million this year. Yet, it was partially offset by the depreciation of European currencies, resulting in a narrowing loss, from HK$27.1 million last year to HK$17.8 million this year. Nonetheless, Braeburn’s integration has been ongoing. Through its extensive sales network, it is expected that the Group can improve segment performance in the future, by raising the Group’s penetration and contributions from the North American market.
Business Review and Outlook
During the Period, the Group continued to enhance its capability by streamlining its operations, investing in new technologies, refining its global manufacturing footprint, and maintaining a solid financial position in case of the unexpected. The Group has invested in its technological infrastructure to develop its Platform-as-a-Service (“PaaS”) business, on applications such as smart irrigation, robotics, and smart home construction. To support the PaaS development, the Group has further invested in its research and development (“R&D”), particularly on artificial intelligence (“AI”), machine-learning (“ML”), cloud computing, robotics, professional security solutions and electrical vehicle (“EV”) chargers, so that it can create better products for its future servicing business. The Group has also tapped into new product categories and industries through its robotic investment, allowing it to acquire new customers from the medical and hospitality sectors.
On its production footprint, while the development of new sites in Mexico and Romania remains on track, the Group has greatly strengthened its control and enhanced the efficiency of the Malaysian plant during the Period. This should also lay a solid foundation for future performance, as the improved in efficiency should become a competitive advantage for existing and new customers.
Regarding outlook and strategies, Chairman and Chief Executive Officer of Computime Group Limited, Mr. AUYANG Pak Hong Bernard, commented, “In order to counter the headwinds ahead, the Group will continue to focus on cost control and efficiency enhancement, allowing us to have the maximum resources and margins available to respond to the market. Specifically, the Group will continue to boost the efficiency of its Malaysian plant, as well as to reduce the operating cost of its other plants through its level-loading strategy so that it can enjoy a higher margin. The Group will also preserve cash to efficiently respond to market shocks, and will continue to diversify its manufacturing footprint in order to gain competitive advantage in new regional markets.”
Mr. AUYANG continued, “The Group remains cautiously optimistic over the future, and the successful integration of Braeburn should offer the Group a new business dimension. The Group is looking forward to leveraging its solid distribution network in North America to quickly expand its Branded Business. The Group has started offering a true end-to-end solution through its PaaS to its customers. The platform will also be expanded to cover other new product categories that the Group will tap into in the future. While the Group continues to invest in R&D, focusing on AI, ML, robotics, cloud computing, professional security solutions and EV chargers, the subsequent new product development should also lay a solid foundation for future ecosystem and service revenue, allowing the Group to offer more and better products and solutions to drive smart and sustainable living.”
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(Hong Kong－ 3 November 2022) A technology, product, and manufacturing solutions specialist – Computime Group Limited (“Computime” or the “Company”, together with its subsidiaries the “Group”, stock code: 320.HK) is pleased to announce that, it has received “Operational Excellence Awards – Direct Material” from Electrolux, one of its major customers and business partners, for its excellence in value creation, supply chain flexibility, and service quality.
Electrolux recognized the outstanding performance of its top suppliers from around the world at its 10th Supplier Awards ceremony on November 3, 2022. Several awards were presented in the ceremony, including Supplier of the Year, Operational Excellence Awards, Consumer Experience Awards, and Sustainability Award. The Group was awarded the “Operational Excellence Awards – Direct Material”, with Electrolux highlighting Computime’s effort in minimizing the impact of the global semiconductor shortage, as well as its capability and initiative in proposing alternative component solutions, while being fully transparent over the last year.
Mr. AUYANG Pak Hong Bernard, Chairman, Chief Executive Officer and Executive Director of Computime Group Limited, commented: “We are honored to be recognized and awarded by our valued brand customer. With the ongoing supply chain and geopolitical disruptions, we certainly understand the need of reliable and quality services available at different locations and at competitive prices. We look forward to our transformation into a true global manufacturing solution provider. Last but not least, we are grateful with the opportunity from Electrolux and thank for its business, support and recognition for the past, and many years to come.”
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Resilient Business Performance amid Macro Uncertainties
Revenue Increased by 16.4% YoY to HK$4,184.8 million
Net Profit Increased by 3.5% YoY to HK$84.2 million
Financial Highlights
For the year ended 31 March FY2022 HK$ million FY2021 HK$ million Change
Revenue 4,184.8 3,596.7 +16.4%
Gross profit 537.3 465.8 +15.4%
Profit attributable to owners of the Company 84.2 81.4 +3.5%
Basic earnings per ordinary share (HK cent(s)) 10.01 9.69 +3.3%
(5 July 2022 – Hong Kong) A leading technology, brand, and manufacturing company and an enabler of smart and sustainable living, Computime Group Limited (the “Company” or “Computime”, together with its subsidiaries, collectively the “Group”; stock code: 320.HK) is pleased to announce its annual results for the year ended 31 March 2022 (the “Year”).
Results Overview
The Group performed admirably despite severe supply chain disruption as well as the surge in commodities prices as a result of COVID-19 resurgence and geopolitical hostilities. Benefiting from the resilient business performance and sales growth across both of the Group’s operating segments, revenue for the Year increased by 16.4% year-on-year (“YoY”) to approximately HK$4,184.8 million (FY2021: HK$3,596.7 million). The Group also took active measures to manage its rising raw material price and production cost, with gross profit margin maintained at 12.8% (FY2021: 13.0%), and gross profit increased to approximately HK$537.3 million (FY2021: HK$465.8 million). Along with stringent cost control measures, profit for the year attributable to owners of the Company recorded a steady increase of approximately 3.5% YoY, from approximately HK$81.4 million last year to HK$84.2 million this year. As an appreciation for shareholders’ support, the Group also proposed a final dividend of HK4.75 cents per ordinary share (FY2021: HK$5.95 cents).
Overall, the Group responded swiftly to market changes and managed to alleviate the worst of the impacts. The satisfactory financial performance during the Year has reflected its operational resilience, increasing market share, and expanding client portfolio and order book in a highly complicated market.
Segment Review
During the Year, the Group continued its commitment to advancing smart and sustainable living through its two key operating segments, namely the Smart Solutions (“SS”) segment and Contract Manufacturing Services (“CMS”) segment, providing premium products and value-added solutions to its international customers.
Revenue for the SS segment was approximately HK$1,281.4 million (FY2021: HK$1,092.3 million), representing an increase of 17.3% YoY, mainly due to the increase of orders attributable to the growing awareness of household energy-saving among consumers. As for the CMS segment, the Group recorded a segment revenue of approximately HK$2,903.5 million (FY2021: HK$2,504.4 million), a YoY increase of 15.9%, attributable to the strong order demand from customers across the entire Year.
Its branded business, Salus Controls, also delivered a strong performance in the Year despite intensifying market competition.
Operational Highlights
FY2022 marked a landmark Year in Computime’s transformation to universalize smart and sustainable living through technologies, products, and manufacturing solutions.
In particular, the Group has taken a significant step towards sustainability by purchasing an additional 62.9998% interest in Braeburn Systems LLC (“Braeburn”), an American branded technology and product company focusing on energy-saving technologies and smart HVAC controls, at a consideration of US$10.3 million. Upon closing, the Group had an accumulated total of 90% of membership interests in Braeburn. Given its unique positioning and capability, the investment is expected to broaden the Group’s client reach and product portfolio, increase its regional market penetration, drive economies of scale, and, most importantly, strengthen its Software-as-a-service (“SaaS”) and Platform-as-a-service (“PaaS”) capability so that it can provide customers with better solutions and user experience. These, in turn, should boost margins and provide business visibility and sustainability in the long run.
To satisfy the growing order demand while supporting its servicing and geographical development, the Group has also put significant effort into diversifying and expanding its global manufacturing footprint. In addition to its China presence, the Group has steadily grown to the Asia Pacific with sites in Malaysia and Vietnam. During the Year, the Group also established its first manufacturing plant in Mexico and laid the foundation for the development of a Center of Excellence (an engineering center) in Romania.
Mr. AUYANG Pak Hong Bernard – Chairman and Chief Executive Officer of Computime Group Limited, said, “Despite market headwinds, we are delighted to see Computime moving assuredly towards a technology, brand, and manufacturing company as well as a smart and sustainable living enabler. Looking ahead, the Group will continue to invest in new technologies and platforms, including Artificial Intelligence, Machine Learning, AIoT, robotics, cloud computing, and more, in order to develop smarter, more environmental-friendly, and interconnected solutions for our branded partners and end customers. We will also maintain our sharp focus on our core, surrounding our business, people, mindset, and innovation, so that we can create greater and sustainable values for our stakeholders.”
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(Hong Kong－ 30 May 2022) A technology, product, and manufacturing solutions specialist – Computime Group Limited (“Computime” or the “Company”, together with its subsidiaries the “Group”, stock code: 320.HK) is pleased to announce that, Centrica Hive Limited (“Centrica Hive”), a valued ODM customer and business partner of the Group, has won the prestigious Red Dot Design Award 2022 and iF Design Award 2022 with its innovative Hive Mini thermostat. The Group would like to extend its sincere congratulations to Centrica Hive, and reaffirm its commitment to supporting its ODM clients on product innovation and future business success.
The Red Dot Design Award and iF Product Design Award are well-recognised design awards in the world with over 60 years of history. Receiving more than thousands of entries yearly from design professionals, companies and organisations from over 70 countries, both the Red Dot Award and the iF Design Award are the most prestigious global design competitions.
For Centrica Hive’s Mini Thermostat, it comes with a connected mobile Hive app which allows a remote, single interface control of temperature and other settings. Compatible with Amazon Alexa and Google Assistant, it provides users with convenient temperature management of the household. Integrated with geolocation technology and smart sensors, it can automatically turn off unneeded heating to reduce energy consumption and lower carbon footprint. Supported by its built-in frost protection, it can also prevent damage and depreciation of water pipe systems during the cold months when indoor heating is most crucial.
Mr. AUYANG Pak Hong Bernard, Chairman and Chief Executive Officer of Computime Group Limited, commented: “Riding on our product design capability and engineering know-how, we are proud to be contributing to the success of Hive Mini thermostat. With its many functions dedicated to user convenience, we believe the recognition is well-deserved. In the future, we look forward to driving our collaboration with Centrica Hive to the next level, by exploring Smart Home technologies together, while pushing boundaries and driving innovation in the industry to enable smart and sustainable living at large.”
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Hong Kong－ 13 April 2022) The board of directors (the “Board”) of Computime Group Limited (“Computime” or the “Company”, together with its subsidiaries the “Group”, stock code: 320.HK) announced that Mr. AUYANG Ho has retired as Chairman of the Board, an Executive Director, the Chairman of the Executive Committee and the Nomination Committee, and a Member of the Remuneration Committee (Full Announcement). In honor and recognition of Mr. AUYANG’s significant contributions to the Group, he will now serve as the Chairman Emeritus. The Board is also pleased to announce that Mr. AUYANG Pak Hong Bernard (Mr. Bernard AUYANG) has been appointed as the Chairman of the Board, Chairman of each of the Executive Committee and the Nomination Committee, and a Member of the Remuneration Committee today.
For almost 50 years, Mr. AUYANG has given his life to serve Computime. From 1974, as a humble clock manufacturer, to crafting a first-class technology company, Mr. AUYANG’s leadership and vision has enabled the Group to not only survive but also thrive throughout various tumultuous world events. We are indebted to Mr. AUYANG’s oversight in Computime’s transformation in redefining what it means to be an OEM/ODM manufacturer with unparalleled customer loyalty to one of the leading smart home and IoT solutions providers.
The Group, the Board, and all the employees are all grateful to Mr. AUYANG for his perseverance and utmost dedication to evolving Computime into the success it is today.
We are looking forward to welcoming Mr. Bernard AUYANG to his new position and are excited to see what the next 50+ years of Computime will bring all of us. We welcome everyone to join and follow us on this new chapter!
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Market Recovery, Growing Efficiency and Effective Cost Control to Drive Rebound
Revenue Increased by 22.3% YoY to HK$1,836.2 Million
Net Profit Increased by 15.2 Times to HK$34.2 Million
Financial Highlights
For the six months ended 30 September
2021/22
HK$ million
2020/21
HK$ million
Change
Revenue
1,836.2
1,501.9
+22.3%
Gross profit
255.8
172.2
+48.5%
Gross profit margin (%)
11.5%
13.9%
+2.4 % pt.
Profit attributable to owners of the Company
34.2
2.1
+1,521.8%
Basic earnings per ordinary share
(HK cent(s))
4.06
0.25
+1,524.0%
(30 November 2021 – Hong Kong) Computime Group Limited (the “Company” or “Computime”, together with its subsidiaries, collectively the “Group”; stock code: 320.HK), a specialist in design, manufacturing and Internet of Things (“IoT”) solutions in the electronics manufacturing services space, is pleased to announce its interim results for the six months ended 30 September 2021 (the “Period”).
Results Overview
Despite the significant headwinds from COVID-19 and supply chain disruptions, the Group was able to achieve notable milestones in its operations and financial performance during the Period. Specifically, revenue recorded an increase of 22.3% year-on-year (“YoY”) to approximately HK$1,836.2 million (1H FY20/21: HK$1,501.9 million), driven by the rebound in consumer confidence and orders, as well as growing sales contribution from new customers and strategic business partnerships. Gross profit increased by 48.5% YoY to HK$255.8 million (1H FY20/21: HK$172.2 million), with gross profit margin slightly improved by 2.4 percentage points to 13.9% (1H FY20/21: 11.5%), mainly attributable to better sales mix as well as economies of scale in leveraging factory overhead costs. Together with successfully cost base re-engineering, net profit attributable to owners of the Company amounted to HK$34.2 million, as compared with HK$2.1 million of same period last year, representing a YoY growth of 15.2 times.
Segment Review
The Group remained committed to becoming a premium provider of innovative technology solutions. Its two operating segments, Smart Solutions (“SS”) and Contract Manufacturing Services (“CMS”), continued to leverage Computime’s vast technological know-how to deliver value-added products and services to its international customers.
For the SS segment, segment revenue for the Period is approximately HK$561.0 million (1H FY20/21: HK$483.5 million), representing a YoY increase of approximately 16.0%, mainly due to the recovery in America and Europe after COVID-19 disruption.
For the CMS segment, segment revenue for the Period is approximately HK$1,275.2 million, or an increase of approximately 25.2% YoY (1H FY20/21: HK$1,018.4 million), attributable to stronger demand on home usage of appliances, power tools, fireplace and gardening devices. The improvement from the CMS segment also helped the Group to maintain a steady revenue level during this challenging period.
Operational Highlights
The Group underwent necessary transformation during the Period to tackle market challenges including global raw material shortage, as well as disruption to global logistics and manufacturing operations.
The Group continued its efforts in product and technological research and development (“R&D”), especially in the area of IoT cloud platform and robotic artificial intelligence (“AI”) solutions, and has successfully transformed itself to a total solutions provider covering hardware, software (PaaS) and cloud technologies. The Group also developed respective platforms for its heating, ventilation, and air-conditioning (“HVAC”), robotics and AI and machine learning solutions, and tapped into new market segments including smart home, smart building, sustainable green technologies, AI robotic markets, and irrigation and gardening.
On production, Computime has evolved from a China-based manufacturing company, to one with global manufacturing footprint. This includes the progressive ramp up of its production base in Malaysia, coupled with the initial setup in Vietnam and Mexico, in the form of capital investment or virtual manufacturing, as well as the Eastern Europe option under evaluation. The extensive coverage allows the Group to provide flexible, cost-competitive, and agile manufacturing solutions to its customers, helping them to tap into regional markets at a shorter lead time and more competitive prices, without sacrificing product quality.
During the Period, the Group also enjoyed notable success from its business development strategy, as it dedicated more effort on focused industries, and has since recorded a growing number of orders from existing customers while landing new projects from new customers. The Group also successfully transformed the branded business – SALUS, turning its European operation into a fast-growing and profitable business, with a much clearer future direction.
Outlook
Looking ahead, the Group expects the market to be continuously unpredictable and challenging, due to the spread of new COVID-19 variants, shortage of electronic raw materials, and slow recovery of the global economy. Nonetheless, supported by its recovering order book and growing competitiveness, the Group remains cautiously optimistic over its prospect, and will look to further expand its product and manufacturing capability to prepare for the unexpected.
Mr. AUYANG Pak Hong Bernard – Executive Director & Chief Executive Officer of Computime Group Limited, said, “We are delighted to see significant improvements in operational and financial performance despite market headwinds. The strong growth has not only demonstrated the resilience of the Group’s business model, but is also proof of success of our proactive initiatives and efficient management. Stepping into the second half and beyond, the Group will continue to expand its R&D capability, introduce new smart elements and products, further diversify its global manufacturing footprint, and actively explore merger and acquisition opportunities to fast-track growth in strategic areas.”
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(Hong Kong－ 11 January 2021) A technology, product, and manufacturing solutions specialist – Computime Group Limited (“Computime” or the “Company”, together with its subsidiaries the “Group”, stock code: 320.HK) is pleased to participate in the CES 2021 Virtual Exhibition with its latest HVAC product platform and IoT platform solutions, showcasing its improving capability to deliver connected and comprehensive solutions to customers.
Computime’s latest HVAC product platform is a full line of control products and field devices with the latest Zigbee 3.0 technology – an open global standard for wireless communication between devices. This integration allows full interconnectivity between products including smart room thermostats, radiator valve controllers, pump controllers, environmental sensors and more. Its high inclusivity also facilitates its application to different system types, aiding customers in building their customised smart heating and cooling solutions. As for the Company’s IoT platform, new features have been introduced, including an IoT gateway for cloud connectivity, cloud backend solutions, application interfaces for customer app and other cloud-to-cloud integrations.
The CES itself is widely recognized as the largest technology trade show in the US. Organised by the Consumer Technology Association (the “CTA”), this annual event attracts the participation of over 4,400 companies worldwide. Due to the pandemic, CES 2021 is hosted virtually this year. Nevertheless, the 4-day event (11 January to 14 January) remains a valuable opportunity for companies to showcase their latest products, listen to new ideas from thought leaders, and engage with global brands and start-ups.
Mr. AUYANG Pak Hong Bernard, Chief Executive Officer and Executive Director of Computime Group Limited, commented: “We are grateful to the CTA for providing this platform to showcase our innovative capabilities on a global stage. This year, with the COVID-19 pandemic, people are spending more time at home, which in turn, has led to an increase in demand for smart and sustainable home comfort technologies including Smart HVAC systems and IoT solutions. Our latest HVAC product platform and IoT solution being showcased during CES 2021 reflects our innovative steps in Smart Home technologies and the Company’s commitment in bringing new and integrated solutions to customers. Looking forward, supported by our team of 200 engineers, 4,000 workers and 5 manufacturing sites, our team will continue to push the boundaries of home technology, committing to the mission of enabling smart and sustainable living globally.”
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(Hong Kong－ 27 March 2020) The board of directors (the “Board”) of Computime Group Limited (“Computime” or the “Company”, together with its subsidiaries the “Group”, stock code: 320.HK) announces that Mr. AUYANG Pak Hong Bernard (“Mr. Bernard AUYANG”), a Non-executive Director of the Company, has been re-designated as an Executive Director and the Chief Executive Officer, succeeding Dr. OWYANG King with effect from 1st April 2020. This announcement represents the Group’s ongoing and thoughtful planning in management organization, which ensures a smooth transition for Computime as the Company continues to deliver specialized and innovated solutions in the electronics manufacturing and Internet of Things service space. Dr. OWYANG King will remain as an Executive Director as a result of the transition, and will allow the Company to continue to benefit from his expertise in research and development.
Mr. Bernard AUYANG, aged 52, has over 28 years of experience in general management and the corporate industry. He was in his latest position as an Executive Director and the Chief Executive Officer with the Company between October 2006, the time of successful listing, and October 2009, later deciding to pursue other ventures. After, he has been the Chairman of Vida Nova Ventures, a Hong Kong based investment firm, since 2009, and the Chief Executive Officer of Altis Zenus Group, a brand and technology company focusing on innovative communication and outdoor products since 2016. Mr. Bernard AUYANG was also a recipient of the Young Industrialist Awards of Hong Kong in 1999, and was named the Hong Kong Young Industrial Ambassador in 2002. He remains as part of several prestigious academic bodies including the court member of the Hong Kong University of Science and Technology, and a member of the committee of Overseers of Wu Yee Sun College of The Chinese University of Hong Kong.
“I am very proud of the accomplishments made by Computime, and leading it as its Chief Executive Officer has been an honour and privilege.” said Dr. OWYANG King, “Bernard is a highly-dedicated and talented leader, with a wealth of experience in the consumer electronics sector regarding branding and product enhancement. I am very confident that the Company is in good hands and I look forward to working with him closely in my new position as Bernard leads Computime to even greater heights.”
Mr. Bernard AUYANG said, “I am deeply honoured and humbled to have been selected as the next Chief Executive Officer of Computime and I look forward to working closely with Dr. King, the Board, and the Company’s truly-exceptional staff to continue on bringing Computime to the global stage. I hope my expertise would help in identifying the latest market trends and tapping into new geographical markets through our growing and diversifying product portfolio, eventually delivering sustainable values to our shareholders. I am grateful for Dr. King’s contributions to the Company and I have no doubt that he will continue to leverage his expertise in technology and product development as part of the Group’s mission to deliver quality manufacturing and design solutions to our customers.”
After the re-designation, Mr. Bernard AUYANG would be responsible for corporate strategy planning, business development, corporate decision making, and general management of the Group. Meanwhile, Dr. OWYANG King will continue to dedicate his resources and time, focusing on the research and development of future technologies. The Group and the Board would like to take this opportunity to welcome Mr. Bernard AUYANG on board, and to express their sincere gratitude to Dr. OWYANG King for his valuable efforts and contributions to the Group during his tenure of service as the Chief Executive Officer.
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(Hong Kong－ 3rd February 2020) A specialist in design, manufacturing and Internet of Things (“IoT”) solutions in the electronics manufacturing services industry – Computime Group Limited (“Computime” or the “Company”, together with its subsidiaries the “Group”, stock code: 320.HK) is pleased to announce that the Company has been selected as an Honoree in the CES 2020 Innovation Awards (the “Awards”) hosted by the Consumer Technology Association (“CTA”), the largest technology trade association in North America, in recognition of the integrated home solution and state-of-art design offered by its Wireless Gateway Thermostat.
The Awards program is an annual competition that honors outstanding design and engineering in the field of consumer technologies, with each application being evaluated by a panel of highly respected experts, including consumer technology designers, engineers and members of the media, based on criteria such as engineering qualities, global impact, and smart energy sustainability. Honorees of the Innovation Awards would be featured in the CTA’s flagship magazine – It Is Innovation (i3), a publication with a reader base of over 58,000 people. Additionally, Honorees of the Awards have the opportunity to showcase their award-winning product at the annual Consumer Electronics Show in Las Vegas, an event which attracts over 4,400 companies worldwide. To receive such an award is a testament to a firm’s capabilities in product design and technological innovation.
Having undergone a rigorous selection process against other applicants, Computime’s Wireless Gateway Thermostat stood out from the crowd as it represents the world’s first smart thermostat gateway that integrated thermostat and gateway function with home Internet of Things (“IoT”) console and ZigBee gateway. With its IoT cloud connectivity along with the built-in Alexa Voice Service that enables users with a simple and instant control over all home IoT devices, the thermostat is able to offer total home IoT solutions with intelligent monitoring and control, all under the smart, modern, energy efficient design.
Dr. King Owyang, Executive Director and Chief Executive Officer of Computime, commented, “It is Computime’s great honor to receive such recognition from the jury, and we are grateful to the CTA for acknowledging our continuous drive and contributions in consumer technologies. Our winning product, Wireless Gateway Thermostat, is a further proof of our capability in offering total IoT solutions, which integrates Zigbee, thermostat, voice control, IoT Home, smart console control and energy saving elements into one. Meanwhile, its smart and one-touch control, together with the modern metallic design and private data security, also offers great convenience and comfort to users. As technologies such as cloud computing, artificial intelligence and 5G become increasingly prevailing, we believe consumer technology would be the next blue ocean market. Looking forward, we will continue our efforts in R&D, and will look to bring new, integrated and cost-efficient solutions to users.”
The CES Innovation Awards are based upon descriptive materials submitted to the judges. CTA did not verify the accuracy of any submission or of any claims made and did not test the item to which the award was given.
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