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大台灣旅遊網2019年10月23日 星期三
Fuling Global Inc. Reports 2019 First Half Financial Results
Fuling Global Inc. Reports 2019 First Half Financial Results

ALLENTOWN, Pa., Oct. 22, 2019 /PRNewswire/ -- Fuling Global Inc. (NASDAQ: FORK) ("Fuling Global" or the "Company"), a manufacturer and distributor of environmentally friendly plastic and paper foodservice disposable products, today announced financial results for the six months ended June 30, 2019.

Financial Highlights:

  • Revenues increased by 6% to $70.9 million for the first half of 2019, from $66.8 million for the comparable period last year.
  • Gross profit for the first six months of 2019 increased by 61% to $16.7 million, from $10.4 million for the same period last year.
  • Net income from continuing operations increased sharply to $7.4 million, or $0.47 per share, compared with $0.9 million, or $0.06 per share, for the first half of 2018.
  • Net income attributable to Fuling Global was $7.7 million, or $0.49 per share, for the first half of 2019, compared with $0.4 million, or $0.02 per share, for the same period last year.

Revenues by Product Category:


For the six months ended June 30,


2019


2018


Y/Y
Change


($'000)


($'000)


Cutlery

$          29,524


$       33,222


(11%)

Straws

16,050


10,647


51%

Cups and plates

20,334


17,910


14%

Others

4,955


5,065


(2%)

Revenues by Geography:


For the six months ended June 30,


2019


2018


Y/Y

Change


($'000)


 ($'000)


United States

$          61,654


$       56,795


9%

China

4,047


5,242


(23%)

Europe

2,251


1,885


19%

Canada

1,018


1,834


(44%)

Other countries

1,893


1,089


74%

Gross profit advanced to $16.7 million, or 24% of total revenue, for the first half of 2019, up from $10.4 million, or 16% of total revenue, for the same period of last year. The increase in gross profit was primarily attributable to unit price declines in raw materials, as well as favorable exchange rates.

Selling expenses were $4.0 million, or 6% of total revenues, in the first half of 2019, compared with $3.7 million, or 5% of total revenues, for the same period of last year. General and administrative expenses were $3.6 million, or 5% of total revenues, in the first half of 2019, compared with $3.5 million, or 5% of total revenues, for the same period of last year. Research and development expenses amounted to $1.9 million, or 3% of total revenues, for the first half of 2019, compared with $1.4 million, or 2% of total revenues, for the same period of last year. The Company expects research and development expenses to remain at similar levels for the second half of 2019, as it continues to seek the use of environmentally friendly materials, develop biodegradable materials, and reduce reliance on fossil-based raw materials.

Total operating expenses were $9.5 million for the first half of 2019, compared with $8.7 million for the same period of last year.

Operating income increased substantially to $7.1 million for the first half of 2019, from $1.7 million for the same period of last year. Operating margin was 10% for the first half of 2019, compared with 3% for the same period of last year.

Total net other income, which includes interest income and expenses, subsidy income and other non-operating income and expenses, was $1.6 million for the first half of 2019, compared with total net other expense of $0.7 million for the same period last year. The difference was primarily related to a one-time subsidy received from the local government in Wenling, China, for the completion of the phase II expansion of the Company's newest facility in China, which added an additional 400,000 square feet to the initial 600,000 square foot, state-of-the-art plastic serviceware factory.

The Company's effective tax rate for the first half of 2019 was 15.3%, compared with 13.2% for the same period in 2018.

Net income from continuing operations for the first half of 2019 increased significantly to $7.4 million from $0.9 million in the same period last year. Net income per share from continuing operations for the first half of 2019 increased to $0.47 from $0.06 for the first half of 2018. Net income attributable to Fuling Global was $7.7 million, compared with $0.4 million in the first half of 2018.

"Fuling Global had a very strong first half of 2019, with our focus on producing straws, cups and plates, generating substantial revenue increases," said Xinfu Hu, Chief Executive Officer. "Significant progress was also made to ensure our ability to effectively and efficiently serve our U.S. customers and to expand to other global markets with the start of production in our Mexico factory in mid-August and the completion of our phase II facility expansion in Wenling. We are in the process of opening a new factory in Indonesia as well, to further mitigate global trade risks."

"Our first half results demonstrate Fuling Global's ability to successfully execute our long-term strategic plan," said Guilan Jiang, Chairwoman. "At the same time, we continue to make great strides toward effecting more efficient purchasing and manufacturing processes, developing new and more environmentally friendly products, and keeping costs as low as possible. We are in a great position to continue on the path of growth through the remainder of 2019 and beyond."

Financial Condition

As of June 30, 2019, the Company had cash and cash equivalents and restricted cash of $7.6 million and $2.1 million, respectively, compared with $4.4 million and $2.4 million, respectively, as of December 31, 2018. Short-term borrowing and bank notes payable were $21.5 million and $2.7 million, respectively, as of June 30, 2019, compared with $19.9 million and $2.9 million, respectively, as of December 31, 2018. Long-term borrowing was $7.1 million as of June 30, 2019, compared with $7.2 million as of December 31, 2018.

Net cash provided by operating activities was $9.2 million for the first half of 2019, compared with $0.7 million for the same period last year. The increase was mainly attributed to the increase in net income of $7.3 million and the reduction of accounts receivable. Net cash used in investing activities was $6.1 million for the first half of 2019, compared with $8.5 million for the same period of last year. Net cash used in financing activities was $0.1 million for the first half of 2019, compared with net cashed provided by financing activities of $5.1 million for the same period last year.

About Fuling Global Inc.

Fuling Global Inc. is a specialized producer and distributor of plastic and paper serviceware for the foodservice industry, with precision manufacturing facilities in the U.S., Mexico and China. The Company's plastic and paper serviceware products include disposable cutlery, drinking straws, cups, plates and other plastic and paper products and are used by more than one hundred customers primarily from the U.S., China and Europe, including Subway, Wendy's, Burger King, Taco Bell, KFC (China only), Walmart, and McKesson. More information about the Company can be found at: http://ir.fulingglobal.com/.

Forward-Looking Statements

This press release contains information about Fuling Global's view of its future expectations, plans and prospects that constitute forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of software and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Fuling Global encourages you to review other factors that may affect its future results in Fuling Global's annual report and in its other filings with the Securities and Exchange Commission. Fuling Global disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Company Contact:

Investor Relations Contact:

Fuling Global Inc.

PondelWilkinson Inc.

Gilbert Lee, CFO

Judy Lin Sfetcu / Roger Pondel

Email: glee@fulingusa.com 

Email: jsfetcu@pondel.com  

Phone: +1-610-366-8070 x1835

Phone: +1-310-279-5980


 


FULING GLOBAL INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(UNAUDITED)





 For the Six Months Ended June 30,




2019


2018


Revenues

$

70,862,675

$

66,844,625


Cost of goods sold


54,209,044


56,452,983


Gross profit


16,653,631


10,391,642








Operating expenses






Selling expenses


3,986,284


3,672,220


General and administrative expenses


3,641,681


3,549,096


Research and development expenses


1,897,415


1,448,730


Total operating expenses


9,525,380


8,670,046








Income from operations


7,128,251


1,721,596








Other income (expense):






Interest income


11,140


22,557


Interest expense


(838,644)


(827,272)


Subsidy income


2,345,561


-


Foreign currency transaction gain (loss)


75,574


(14,316)


Other income (expense), net


29,847


120,297


Total other income (expense), net


1,623,478


(698,734)








Income before income taxes


8,751,729


1,022,862








Provision for income taxes


1,340,153


135,422








Net income from continuing operations

$

7,411,576

$

887,440








Discontinued operations:






Net income (loss) from discontinued operations, net of tax


259,042


(503,517)


Net income


7,670,618


383,923








Less: net (loss) income attributable to non-controlling interest from continuing operations


(59,841)


15,944








Net income attributable to Fuling Global Inc.

$

7,730,459

$

367,979








Other comprehensive income






Foreign currency translation loss


(23,496)


(617,025)


Comprehensive income attributable to Fuling Global Inc.

$

7,706,963

$

(249,046)








Earnings (loss) per share - Basic and diluted






Continuing operations

$

0.47

$

0.06


Discontinued operations

$

0.02

$

(0.03)








Weighted average number of shares - Basic and diluted






Continuing operations and discontinued operations


15,795,910


15,780,205





FULING GLOBAL INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS





 June 30,

2019


 December 31,

2018




(Unaudited)


(Audited)

ASSETS


Current Assets:






Cash and cash equivalents

$

7,646,898

$

4,400,402


Restricted cash


2,141,081


2,396,993


Accounts receivable, net


26,325,411


27,760,956


Advances to supplier, net


900,955


1,255,420


Inventories, net


22,061,669


22,274,613


Security deposits


515,524


-


Prepaid expenses and other current assets


1,290,513


1,394,234


Current assets from discontinued operation


20,945


37,761


Total Current Assets


60,902,996


59,520,379








Property, plant and equipment, net


53,858,069


51,836,633


Intangible assets, net


8,084,128


8,157,916


Prepayments for construction and equipment purchases


1,001,320


1,222,888


Security deposits - long term


1,514,534


1,590,671


Other assets


954,328


297,906


Right-of-use lease assets


3,429,760


-


Non-current assets from discontinued operations


-


13,697


Total Assets

$

129,745,135

$

122,640,090







LIABILITIES AND SHAREHOLDERS' EQUITY








Current Liabilities:






Short term borrowings

$

21,541,520

$

19,890,641


Bank notes payable


2,704,064


2,888,053


Advances from customers


395,315


393,749


Accounts payable


12,351,799


18,186,400


Accounts payable - related party


592,992


82,014


Accrued and other liabilities


1,414,990


2,121,304


Other loans payable - current


3,470,790


2,847,859


Taxes payable


191,924


247,635


Deferred gains


224,329


291,170


Due to related party


15,575


12,200


Operating lease liabilities - current


832,692


-


Current liabilities from discontinued operation


298,724


528,263


Total Current Liabilities


44,034,714


47,489,288








Deferred tax liability


779,239


577,826


Long term borrowings


7,063,341


7,203,357


Other loan payable – non-current


2,721,659


2,635,567


Operating lease liabilities – non-current


2,739,566


-


Total Liabilities


57,338,520


57,906,038








Shareholders' Equity






Common stock: $0.001 par value, 70,000,000 shares authorized, 15,795,910 and 15,795,910 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively


15,797


15,797


Additional paid in capital


30,034,987


30,009,545


Statutory reserve


6,349,766


5,532,945


Retained earnings


38,516,072


31,602,434


Accumulated other comprehensive loss


(2,495,750)


(2,472,254)


Total Fuling Global Inc.'s equity


72,420,872


64,688,467








Non-controlling interest


(14,256)


45,585


Total Shareholders' Equity


72,406,616


64,734,052








Total Liabilities and Shareholders' Equity

$

129,745,135

$

122,640,090

 

Tue, 22 Oct 2019 20:00:00 +0800
Volocopter Air Taxi Flies Over Singapore's Marina Bay

SINGAPORE, Oct. 22, 2019 /PRNewswire/ -- Volocopter, the pioneer in Urban Air Mobility (UAM), successfully completed its first manned flight over Singapore's Marina Bay today. This was the last trial of a demanding test series to verify and validate the ability of Volocopter air taxis to fly over the area. Government authorities including the Ministry of Transport (MOT), the Civil Aviation Authority of Singapore (CAAS), and the Economic Development Board (EDB) supported Volocopter in this testing phase and will continue to do so in the future. This flight kicks-off Volocopter's efforts to bring commercial air taxi services to Singapore.  

 

 

Volocopter air taxi flies over Singapore’s Marina Bay
Volocopter air taxi flies over Singapore’s Marina Bay

 

A 2X model of the company's test series flown by a pilot onboard was used. The flight covered a distance of approximately 1.5 km and lasted for two minutes at an average cruising height of 40 m.

"The flight today in Singapore was the most advanced Volocopter flight yet and the piloted flight was as stable as ever. At the same time, we are showcasing a prototype of our full-scale VoloPort Infrastructure, allowing for a realistic demonstration of air taxi boarding and maintenance services. Never before have people been this close to experiencing what Urban Air Mobility in the city of tomorrow will feel like," says Florian Reuter, CEO of Volocopter

Leading up to the flight, the aircraft had undergone intensive testing in Germany for several months. Following which, a rigorous flight test program to verify the Volocopter 2X aircraft performance under local environment was conducted at Seletar Airport in accordance with CAAS.

"Since late 2018, the Civil Aviation Authority of Singapore (CAAS) has been working with Volocopter to facilitate this flight in Singapore. The Volocopter team went through a series of stringent evaluations to ensure that all the necessary safety requirements were met before the flight was allowed to take place. By working closely with companies such as Volocopter, we hope to facilitate innovations for beneficial uses whilst ensuring aviation and public safety," said Mr. Ho Yuen Sang, Director (Aviation Industry) from CAAS.

"Volocopter's decision to testbed its innovative air taxi in Singapore is testament to the opportunities and environment that Singapore provides. The Singapore Economic Development Board hopes to be an enabling partner for companies developing new mobility technologies such as autonomous vehicles and urban aerial mobility. We are happy to support Volocopter in their development plans and hope that this is a first step towards the creation of more exciting business and job opportunities in Singapore," said Mr. Tan Kong Hwee, Assistant Managing Director, EDB.

At the ITSWC, Volocopter and their partner Skyports built the first VoloPort prototype on the floating dock in Marina Bay. VoloPorts are the only physical infrastructure required for air taxis and they are one important step to commencing operations in cities. They are designed to provide passengers with a seamless air taxi experience that is safe, secure, and integrated into existing infrastructure.

Volocopter opened an office in Singapore in January 2019 and has started to build up a local team to support South East Asia expansion plans. The company has recently presented their VoloCity – the next generation eVTOL air taxi which is designed to comply with EASA requirements. With their recently announced Series C funding round the company will bring the VoloCity to commercial certification.

About Volocopter GmbH

Volocopter is building the world's first sustainable and scalable urban air mobility business to bring affordable air taxi services to megacities worldwide. With the VoloCity, the company is developing the first fully electric "eVTOL" aircraft in certification to safely and quietly transport passengers within cities. Volocopter leads and cooperates with partners in infrastructure, operations, and air traffic management to build the ecosystem necessary to 'Bring Urban Air Mobility to Life.'

In 2011, Volocopter performed the first-ever manned flight of a purely electric multicopter and has since showcased numerous public flights with its full-scale aircraft. The most notable have been the public test flights at Singapore's Marina Bay in October 2019 and the world's first autonomous eVTOL flight in Dubai 2017. 

Founded in 2011 by Stephan Wolf and Alexander Zosel, Volocopter has 150 employees in offices in Bruchsal, Munich, and Singapore. The company is managed by CEO Florian Reuter, CTO Jan-Hendrik Boelens, and CFO Rene Griemens, and has raised a total of 85 million euro in equity. Volocopter's investors include Daimler, Geely, Intel Capital, BtoV, and Manta Ray Ventures. Find out more at: www.volocopter.com.

Press Contact:
Helena Treeck
+49-151-2372-1517
press@volocopter.com

Related Links :

https://volocopter.com

Tue, 22 Oct 2019 18:53:00 +0800
Taiwan's East Rift Valley tourism authority to promote the region at the upcoming Tourism Expo Japan in Osaka

Fenglin Township Cycling Trip and a concert for the opening of the Slow City park to be held on November 16

HUALIEN, Oct. 22, 2019 /PRNewswire/ -- The East Rift Valley National Scenic Area Administration (Administration), a regional bureau under the aegis of Taiwan's Ministry of Transportation and Communications (MOTC), will lead a delegation consisting of travel business leaders with operations in the island's East Rift Valley to take part in Tourism EXPO Japan and a variety of promotional events to be held throughout Japan's Kansai region. The Administration aims to promote the culture, scenery and culinary specialties of the East Rift Valley worldwide as well as to entice more travelers to choose Hualien and Taitung as the next destination for their holiday.

The delegation will take part in the 2019 Tourism Expo Japan and Taiwan Promotion Event, showcasing Taiwan's unique tourism offerings at the Taiwan Pavilion that will be set up at Intex Osaka between October 24 and 27. Kuo Chen-Ling, Director of the Administration, explained that they will host several events with the East Rift Valley as the theme to draw more visitors to the Hualien and Taitung exhibition stands and give those who visit access to travel information about the region. The delegation also plans to draw the attention of local audiences in Osaka and across the Kansai region via money-award quiz shows and direct mail advertising by enticing them to attend the tourism promotion roadshow event to be held in Osaka's Umekita Garden on October 27, in a move to raise the visibility of Hualien and Taitung among Japanese travelers.

With the cycling trip kicking off in Fenglin Township in Hualien County, Hualien has become the first city in Taiwan to be named as a "Slow City" by Cittaslow International, an organization founded in Italy and inspired by the slow food movement. The Administration will host a concert to celebrate the start of the Fenglin Township Cycling Trip and the opening of the Slow City park on November 16. With three itineraries planned for the cycling-and-picnic day, the Administration invites professional and non-professional cyclists of all ages and nationalities to take part in the Fenglin Township cycling event, giving every cyclist who joins an opportunity to enjoy the simple and leisurely lifestyle while having fun during the cycling trip and the outdoor concert.

Tue, 22 Oct 2019 17:27:00 +0800
China Eastern, Virgin Atlantic, Air France and KLM Announce Intention to Launch a Joint Venture

SHANGHAI, Oct. 22, 2019 /PRNewswire/ -- On October 16th, China Eastern has announced its intention to enter into a joint venture with Virgin Atlantic, Air France and KLM, providing more valuable and attractive joint commercial propositions for customers between Europe and China.      

The signing ceremony
The signing ceremony

China Eastern currently has joint venture with Air France and KLM by working together on a portfolio of flights between China and Paris, Amsterdam. With Virgin Atlantic joining the existing partnership between China Eastern, Air France and KLM, the enlarged cooperation will offer strengthened customer benefits including increased travel options and optimized connectivity across Europe and China,further facilitated by a developed joint network, as well as competitive joint commercial propositions.

The China to United Kingdom markets are expected to be pivotal at a time where China Eastern and Virgin Atlantic services linking London to Shanghai are part of the mutualized offer. China Eastern plans to seek to codeshare for the first time on Virgin Atlantic services between London and Shanghai. This will open up a range of customer benefits, including the opportunity for customers to earn and redeem miles across both carriers on flights between China and United Kingdom.

The announcement reaffirms China Eastern's commitment to the European market, which will inject new vitality into her international development, network construction and service improvement and will also contribute to the  internationalization of China's civil aviation and the Belt and Road Initiative.

Tian Liuwen, EVP China Eastern Group commented:

"China Eastern and Air France-KLM have maintained a long-term and stable strategic cooperation, which have provided a strong support for each other's services between China and Europe. With Virgin Atlantic's joining,the cooperation will develop to a higher level enabling us to deliver more quality products and services for customers between China and Europe."

About China Eastern

Headquartered in Shanghai, China Eastern Air Holding Co. Ltd (CEAH) is one of the three major air transportation groups in China and could be traced back to the first squadron established in January, 1957 in Shanghai.

By now, total asset of CEAH has reached over RMB 350 billion. CEAH continues to promote industrial transformation and upgrading and strives to build '3+5' industrial structure layout, focusing on three pillar industries: full service, low cost and logistics and reinforced by five-industry synergy: MRO, Air Catering, technological innovation, finance and industrial investment.

As the core business of CEAH, China Eastern Airlines Co., Ltd. (CEA) was the first Chinese airline to be listed on New York, Hong Kong and Shanghai stock markets in 1997. It operates a modern fleet of 750 passenger and cargo aircraft, which is one of the youngest fleets in the world. It has the largest and leading wide-body fleet with internet access. CEA is the first airline in China to allow the use of mobile phones and other portable devices.

As a member of SkyTeam Alliance, CEA has extended its flight network from its core hub Shanghai to 1,150 cities in 175 countries via close cooperation with SkyTeam Alliance member airlines. It serves over 1.3 million travelers annually and ranks top 10 in the world. Eastern Miles members can enjoy the membership rights of SkyTeam's 19 airlines and more than 750 airport VIP lounges worldwide.

China Eastern is committed to creating wonderful journey experiences for passengers around the world with "accurate, delicate and precise" service. In recent years, China Eastern Airlines has won awards both at home and abroad in the field of operation quality, service experience, CSR, etc., including the Diamond Flight Safety Award by CAAC -- highest award of its kind in China, eight consecutive years of Top 50 Most Valuable Chinese Brands by WPP, and four consecutive years nomination of "Global Brand Value 500" by Brand Finance.

Official website: www.ceair.com
Hotline: +86 (95530)

Schedules

China Eastern- Air France-KLM's current Joint Venture schedules (Summer 2019 Season) are as follows:

-- China Eastern:

- twice-daily frequencies between Shanghai - Pudong and Paris - Charles de Gaulle
- 4-weekly frequencies between Shanghai - Pudong and Amsterdam - Schiphol
- 3-weekly frequencies between Kunming and Paris - Charles de Gaulle
- 3-weekly frequencies between Qingdao and Paris - Charles de Gaulle

-- Air France:

- twice-daily frequencies between Paris - Charles de Gaulle and Shanghai - Pudong
- 3-weekly frequencies (4-weekly in peak periods) between Paris - Charles de Gaulle and Wuhan

-- KLM: 12-weekly frequencies between Amsterdam - Schiphol and Shanghai - Pudong.

Services (Summer 2019 Season)between London and Shanghai by China Eastern and Virgin Atlantic are as follows:

-- China Eastern:

- Daily service from Shanghai - Pudong to London Heathrow
- 3-weekly frequencies from Shanghai - Pudong to London - Gatwick (To be changed to daily service from Winter 2019 Season)

-- Virgin Atlantic:

- Daily service to Shanghai - Pudong from London - Heathrow.

 

 

The signing ceremony
The signing ceremony

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Related Links :

http://www.ceair.com

Tue, 22 Oct 2019 13:03:00 +0800
Accor to grow its hotel network in the Philippines to 22 Hotels with over 5,500 rooms by end of 2024

Record year in the Philippines with nine new hotel signings in 2019

MANILA, Philippines, Oct. 22, 2019 /PRNewswire/ -- Accor, the largest and most geographically diverse hotel group in Asia Pacific will expand its portfolio in the Philippines with a record-setting nine new hotels signed this year which will be managed by the international augmented hospitality group. The accelerated expansion plan will boost the leading hotel operator's presence in the country from eight hotels with 2,127 rooms to 22 hotels with over 5,500 rooms within the next five years. With 38 brands within its portfolio, Accor is on a rapid expansion phase, particularly in the luxury and lifestyle sectors across the Asia Pacific region.

Rendering of Pullman Living Makati and Novotel Living Makati, slated to open in 2022.
Rendering of Pullman Living Makati and Novotel Living Makati, slated to open in 2022.

The nine new hotels signed represent an additional 2,155 rooms, increasing the group's total pipeline to 14 new hotels in the Philippines with over 3,400 new rooms.

"Philippines is a market with great potential, and our recent signings underlines Accor's long-term commitment to the vibrant nation. Last year, the travel and tourism industry was the fastest-growing sector in the Philippines. We are delighted to showcase even more of the Philippines with a wider choice of accommodation that makes as much sense for our hotel owners as much as it does for our guests," said Patrick Basset, Accor's Chief Operating Officer - Upper Southeast & Northeast Asia and the Maldives.

According to a report by the World Travel & Tourism Council (WTTC), travel and tourism contributed 24.7 percent to the Philippine gross domestic product in 2018.

The 14 new properties include the introduction of six brands which will make their debut in the Philippines including - Pullman Living, MGallery, Swissôtel, Novotel Living, and Ibis Styles. The Philippines is already home to Raffles, Fairmont, Sofitel, Mövenpick, Novotel and Mercure brands.

The world's first Pullman Living and Novotel Living properties announced in Manila earlier this year reinvent the serviced apartment concept combining social spaces and modern dining.

"With nine hotels signed to date in the Philippines, we have doubled the existing portfolio in just over nine months, and expect to add two more hotels with a combined 500 rooms by the end of 2019. We have further diversified our brand offering with the introduction of six Accor hotels and extended stay brands into the country," said Andrew Langdon, Accor's Senior Vice President of Development - Asia.

According to the latest numbers from the Philippines's Department of Tourism, South Korea, Mainland China, USA, Japan, and Taiwan make up the country's top five visitor source markets. Accor's global presence and long-term visibility in these markets offer the advantage of trustworthiness and reputation for travellers as well as stakeholders.

Accor has the largest pipeline in Asia Pacific and opened 128 hotels in the region last year. The group opens, on average, a new hotel every 36 hours globally and in Asia Pacific opens a new hotel every three days.

ABOUT ACCOR

Accor is a world-leading augmented hospitality group offering unique experiences in 4,900 hotels and residences across 110 countries. The Group has been acquiring hospitality expertise for more than 50 years, resulting in an unrivalled portfolio of brands, from luxury to economy, supported by one of the most attractive loyalty programs in the world.

Beyond accommodation, Accor enables new ways to live, work, and play, by blending food and beverage with nightlife, wellbeing, and co-working. It also offers digital solutions that maximize distribution, optimize hotel operations and enhance the customer experience.

Accor is deeply committed to sustainable value creation and plays an active role in giving back to planet and community via its Planet 21 - Acting Here program and the Accor Solidarity endowment fund, which gives disadvantaged groups access to employment through professional training.

Accor SA is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACRFY) in the United States. For more information visit accor.com. Or become a fan and follow us on Twitter and Facebook.

Photo - https://photos.prnasia.com/prnh/20191022/2618033-1?lang=0

Related Links :

https://www.accorhotels.com

Tue, 22 Oct 2019 12:23:00 +0800
Vibrant Entertainment and Fanfare at Resorts World Genting's Starlight Carnival & Zouk Live

Make a date now to enjoy a fantastic array of movies, music, food and games

GENTING HIGHLANDS, Malaysia, Oct. 22, 2019 /PRNewswire/ -- The Starlight Carnival is a unique open-air festival that will take place every Thursday, Friday and Saturday through 2 November 2019. Featuring four key elements - movies, music, food and games - the Starlight Carnival brings together all the ingredients for a perfect time under the stars and cool breeze at the outdoor setting of the Century Lake Park and Metro Park at Resorts World Genting.

Celebrity DJ Sura from Korea to thrill party goers at Starlight Carnival’s first Zouk Live this Nov 2
Celebrity DJ Sura from Korea to thrill party goers at Starlight Carnival’s first Zouk Live this Nov 2

At the Carnival Cinema, a red carpet of blockbuster movies will play out on a supersized pop-up screen for guests to lay back on beanbags and cushions to enjoy and relax while watching the movie. If hunger strikes, then grab a bite (or several) from one of the many gourmet food trucks and dining options scattered across the Carnival, such as FUHU, Harry Ramsden, Il Lago, and Cosmic Café.

From sunset onwards, the Starlight Carnival will also be a space filled with melodies. A talented line-up of musicians, including Aidan Soloist, VIBES, McBE Duo and Double Aze, will take to the pop-up Gazebo stage to provide the soundtrack and mood for the twilight fiesta. And what carnival would be complete without some fun and challenging carnival games? Guests could test their luck and skills at a variety of game kiosks like Shooting Star, Milky Way Spin, Asteroid Toss, and Topple Galaxies.

Guests who want to party a little bit harder can head to the Oktoberfest Hall, held at a separate area of the Carnival with its own set of food, drink and entertainment offerings. Taking the stage at the Oktoberfest Hall at the Carnival will be tributes to three of the greatest rock bands ever - the Gipsy Kings, The Beatles and Queen - providing a unique soundtrack to the outdoor festival for three consecutive weekends.

For its final weekend, a scary season makeover for a special Halloween Weekend takes over as the Carnival embraces Halloween with jack o'lanterns, zombies, cobwebs and all the other elements of a truly scary Halloween evening.

November 2 follows suit with the first-ever Starlight Carnival with the debut of Zouk Live. Things kick off at 3pm, as Zouk Genting x Épique Fitness collaborate on a unique music-meets-movement session. Activities such as HIIT In The Highlands, Piloxing, and Mayhem Jam with thrilling soundtrack of EDM anthems will be sure to get the heart pumping and blood flowing for the long evening ahead. Zouk Live starts proper with Malaysia's most famous DJ duo Bate stepping on stage at 9pm followed by headliner DJ Sura. Bate will then carry the party into Zouk Genting for the after-party where they will be supported by Zouks resident DJs Joshen and Rowena, regular performers with the world's most famous acts.

For more information, please visit www.rwgenting.com.

Photo - https://photos.prnasia.com/prnh/20191022/2616417-1?lang=0

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Tue, 22 Oct 2019 12:49:00 +0800
Natural Extracts Innovated, Transformed and Diversely Laid Out to Embrace the Blue Ocean Market of Big Health

NEX China 2020 to Set Off Another Wave

SHANGHAI, Oct. 22, 2019 /PRNewswire/ -- The implementation of the "Healthy China 2030" Planning Outline has ushered in rapid development of China's big health industry, with the industry scale expected to reach RMB8.78 trillion in 2019 and RMB14.09 trillion in 2023, calculated as per the about 12.55% compound annual growth rate in the next five years. Wherein, important components of the big health industry chain: health products, pharmaceuticals, and nutritional and functional foods, etc. will see new development opportunities. As an ingredient source, the role of natural extracts has been increasingly recognized in the world, with the industry scale rapidly developing and the market demands stably growing.

Driven by the policy and market dynamics, NEX China 2020 will take place at Shanghai New International Expo Centre (No. 2345 Longyang Road, Pudong) on June 22-24, 2020, to build an international, large-scale, one-stop trade and exchange platform in the natural extract industry and boost the rapid and sustainable development of the big health industry!

Gathering well-known brands and key players of the industry

Over 85% of the stands have been booked in only three months. Well-known natural extract brands including INDENA, Layn Natural Ingredients, Beijing Gingko-Group, Tianjin Jianfeng, Zhucheng Haotian, Chongqing Joywin, Dalian InnoBio, Shaanxi Jiahe, Chenguang Biotech, and Wantuming Biological, etc. will gather in Halls E4 and E5 together with over 600 quality exhibitors, to reach an exhibition area of 20,000m2. They will present the visitors with innovative products and cutting-edge technologies: the monk fruit extract of Layn Natural Ingredients can resist to high temperature and acid and has a lasting flavor, and its mogroside is applied in foods, beverages, medicines and healthcare products as a natural, zero-calorie high-intensity sweetener; the gingko leaf extract of Chenguang Biotech has significant antagonism against PAF receptor and can act in terms of anti-inflammation, antiallergy, vasodilation, protection of heart and cerebral vessels, improvement of peripheral blood circulation, lowering of serum cholesterol, and assistance of anticancer, etc.; the instantized branched-chain amino acid microcapsule powder of Dalian InnoBio has characteristics of instant dissolution in water, high purity, low bitter taste, and resistance to high temperature acid and alkali, etc., can relieve fatigue, replenish energy, and muscle soreness and is applied in sports drinks and energy drinks, etc. With the increasing demands from the consumer market for product safety and efficacy, those leading enterprises will prove quality of their products using their R&D strength and technological expertise, and jointly write a new chapter of industry development.

Rich resources inside and outside China upon 12 years of deep cultivation

NEX China has shared a common fate with the natural extract industry since established in 2008; it has not only witnessed the flourishing of the global natural extract industry but also grown from originally a zone to a high-end brand event with a leading scale in Asia; it has been widely recognized in the industry and become a weather vane directing the industry development. Over the past 12 years, the exhibition has given full play to the bridge and platform roles, connected global buyers from the health products, pharmaceuticals and food sectors and gathered industry giants as end-customers, including By-Health, Amway, Nutrilite, Nestle, Coca-Cola, Bayer, and Pfizer, etc. NEX China 2020 is expected to attract over 75,000 visits of industry professionals, including 25,000 visits of overseas buyers from over 140 countries and regions such as the US, Germany, Japan, South Korea, and Italy. The event will further help suppliers expand cooperation channels, get insight into the international market and obtain effective business opportunities.

Depending on the rich resources of CPhI Worldwide, SupplySide West and VitaFoods Asia, all under Informa Markets, NEX China is strongly supported by over 100 Chinese and overseas media and associations, including NutraIngredients Asia, Natural Products Insider, Newhope, CPhI.CN, Foodmate.net, and Foodex360.com, etc., to achieve high exposure in omni-media channels online and offline and provide a one-stop marketing solution.

Seizing cutting-edge trends of big health

With the combining mode of "conference" and "exhibition", NEX China has been leading the innovation and upgrades of the industry, bringing about rich content on new achievements, dynamics, ideas and trends. In 2020, the organizer will continue to join hands with authoritative institutions and senior industry experts to present hi-end concurrent events including Natural Ingredient Conference 2020 (NIC 2020), 2020 Nutritional and Functional Food Development and Innovation Summit and Natural Extract Application Workshop, 2020 Seminar on Application Technology for Research and Development of Functional Food. Centering on big health concepts and representing multiple perspectives, the concurrent events will actively explore policies, regulations and technology trends, share valuable insights from industry elites, deepen the understanding of the industry development trends, advise and guide the enterprises to strengthen their competitiveness, and jointly boost the sustainable development of natural extract and big health industries.

Furthermore, the Natural Extracts & Products Cocktail Party (Award & Networking) will take place again as an annual event, where the Top 10 Exporting Enterprises of Plant Extract in China in 2019, Product Innovation Award of Plant Extract in 2020, and Technology Innovation Award of Plant Extract in 2020 will be announced and the award-winning innovative products will be centrally exhibited in the zone and broadcasted through roadshows, to trigger innovation and vitality of the natural extract industry.

For more information, please visit the official website www.cphi-china.cn/nex/en or follow the WeChat subscription account: CPhI-China. Join us now in the grand annual gala of the natural extract industry!

CPhI & P-MEC China 2020

June 22-24, 2020, SNIEC, Shanghai, China

OrganizerInforma Markets, CCCMHPIE, Sinoexpo Informa Markets

Contact us:
Ms. Yingqi Shi
E: yingqi.shi@imsinoexpo.com
T: +86 21-33392421

Tue, 22 Oct 2019 12:11:00 +0800
Sichuan Initiates Establishment of the Culture and Tourism Alliance for International Sister Cities

CHENGDU, China, Oct. 22, 2019 /PRNewswire/ -- On October 15, at the 2019 Belt and Road Forum for Cooperation and Development of Sichuan International Friendship Cities & Forum on Culture and Tourism was launched in Chengdu. As Sichuan province looks to expand its presence abroad, joining other international cities and provinces will help bring more attention to the province and provide more opportunities for inbound tourism.

2019 Belt and Road Forum for Cooperation and Development of Sichuan International Friendship Cities & Forum on Culture and Tourism
2019 Belt and Road Forum for Cooperation and Development of Sichuan International Friendship Cities & Forum on Culture and Tourism

The event was jointly sponsored by the Sichuan Provincial Department of Culture and Tourism, the Foreign Affairs Office of Sichuan Province, and the Sichuan Provincial People's Association for Friendship with Foreign Countries. Initiated at the forum, the Culture and Tourism Alliance for International Sister Cities follows the theme of "open cooperation, mutual benefit and win-win result" and the principle of "joint discussion, development and sharing" and will strengthen the exchange and cooperation in culture and tourism between Sichuan and its international sister provinces, between cities in the province and their international sister cities.

This forum was held as a special parallel session of the 2019 Belt and Road Forum for Cooperation and Development of Sichuan International Friendship Cities. It attracted 10 provincial governors and 52 foreign guests from 16 sister cities. Yang Xingping, Vice Governor of the People's Government of Sichuan Province, attended the forum and delivered a speech. He indicated, Sichuan would like to further strengthen cooperation and close connections with international sister cities, actively participate in the Culture and Tourism Alliance for International Sister Cities, jointly share the development dividends and promote the friendly relationship to a new height. Dai Yunkang, Director of Sichuan Provincial Department of Culture and Tourism, introduced Sichuan's culture and tourism. Representatives from 13 international sister cities of Nepal, Tanzania, Thailand, Czech Republic, South Africa and France relatively introduced their local culture and tourism.

Photo - https://photos.prnasia.com/prnh/20191021/2616600-1?lang=0

Tue, 22 Oct 2019 11:31:00 +0800
GreenTree Hospitality Group Ltd. Announces Results of 2019 Annual General Meeting

SHANGHAI, Oct. 22, 2019 /PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree", the "Company", "we", "us" and "our"), a leading hospitality management group in China, today announced that it held its 2019 annual general meeting of shareholders on October 21, 2019. During the meeting, the shareholders of the Company passed an ordinary resolution approving the re-appointment of Ernst & Young Hua Ming LLP as independent auditor of the Company for the fiscal year ending December 31, 2019.

About GreenTree Hospitality Group Ltd.

GreenTree Hospitality Group Ltd. ("GreenTree" or the "Company") (NYSE: GHG) is a leading hospitality management group in China. As of June 30, 2019, GreenTree had a total number of 2,955 hotels. In 2018, GreenTree ranked among the top 12 worldwide in terms of number of hotels in "World's Largest Hotel Companies: HOTELS' 325", published by HOTELS magazine, and was the fourth-largest hospitality company in China in 2018 based on statistics issued by the China Hospitality Association.

GreenTree has built a strong suite of brands including its flagship "GreenTree Inns" brand as a result of its long-standing dedication to the hospitality industry in China and consistent quality of its services, signature hotel designs, broad geographic coverage and convenient locations. GreenTree has further expanded its brand portfolio into mid-to-up-scale and luxury segments through a series of strategic investments. By offering diverse brands, through its strong membership base, expansive booking network, superior system management with moderate charges, and fully supported by its operating departments including Decoration, Engineering, Purchasing, Operation, IT and Finance, GreenTree aims to keep closer relationships with all of its clients and partners by providing a brand portfolio that features comfort, style and value.

For more information on GreenTree, please visit http://ir.998.com.

For more information, please contact:

GreenTree

Ms. Selina Yang
Phone: +86-21-3617-4886 ext. 7999
E-mail: ir@998.com

Mr. Nicky Zheng
Phone: +86-21-3617-4886 ext. 6708
E-mail: ir@998.com

Christensen

In Shanghai
Ms. Constance Zhang
Phone: +86-138-1645-1798
E-mail: czhang@christensenIR.com

In Hong Kong 
Ms. Karen Hui 
Phone: +852-9266-4140 
E-mail: khui@christensenIR.com

In the U.S. 
Ms. Linda Bergkamp 
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

Cision View original content:http://www.prnewswire.com/news-releases/greentree-hospitality-group-ltd-announces-results-of-2019-annual-general-meeting-300942563.html

Related Links :

http://ir.998.com

www.998.com

Tue, 22 Oct 2019 10:34:00 +0800
Artyzen Hospitality Group has Growth Across Asia in its Sights

- Seven pipeline projects across mainland China and Singapore to be operated by 2023 Artyzen indicates its longer term intentions to grow its global footprint

HONG KONG, Oct. 22, 2019 /PRNewswire/ -- Artyzen Hospitality Group, a Hong Kong-based international hotel management company, has indicated its ambitious expansion plans with the announcement of seven pipeline projects to be completed across mainland China and Singapore in the next three years with further sights set on global expansion.

Since its inception in 2013, Artyzen Hospitality Group has been steadily gaining momentum as a hotel owner and operator with a strong portfolio of brands offering unique lifestyle hospitality concepts that embrace local communities that suit a cross section of travelers. This portfolio includes Zitan, a luxury brand capturing Chinese modernity, Artyzen Hotels and Resorts that brings local heritage and craftsmanship to life, and Artyzen Habitat which connects local communities and vibrant public spaces. It currently operates six hotels and will be launching seven properties for its Artyzen Hotel and Artyzen Habitat brands in Singapore and across mainland China including in Qiantan Shanghai, Lingang Shanghai, Taopu Smart City Shanghai and Hengqin Island in Zhuhai.

Robbert van der Maas, President of Artyzen Hospitality Group, said: "Our growth strategy is centred on developing hotels in gateway and capital cities that have potential in the areas of tourism and business. The locations we are developing hotels in are also strategically important because of their proximity to commercial centres and hubs, cultural landmarks and entertainment destinations. Our hotels will complement travelers' experiences with hospitality options that embody art reflecting the culture of the destination, thoughtfully designed spaces and culinary delights. The birth of our first two Artyzen Habitat hotels in Beijing and Shanghai have resulted in rapid growth of the brand and we will now bring our first Artyzen branded hotels to market."

Artyzen Lingang Shanghai Lobby Lounge
Artyzen Lingang Shanghai Lobby Lounge

 

Artyzen Habitat Lingang Shanghai Townsquare
Artyzen Habitat Lingang Shanghai Townsquare

Artyzen Hospitality Group is developing Artyzen Habitat hotels in Taopu, and Hengqin. Notably, it has two significant properties under development in Lingang and Qiantan. Both of these developments are located in 'cultural clusters' within Shanghai and aim at delivering immersive cultural experiences that help guests build connections with the local community.

Artyzen has partnered up with Lujiazui Group to bring two very exciting integrated developments, which will include residential properties, convention centres, cultural centres and hotels, to market. This partnership enables the group to streamline business processes and achieve cost efficiencies.

Lingang and Qiantan are up and coming locations in Shanghai and will offer travelers access to multiple cultural facilities and amenities. The Lingang cluster features an Artyzen hotel, an Artyzen Habitat as well as a state of the art Convention Centre located in the Lingang New City Development, a city that is pinned to redefine the future of cities in mainland China. The coastal area is poised to be one of the best integrated developments in Shanghai with several theme parks and with close proximity to Disneyland and the new China (Shanghai) Pilot Free Trade Zone Lin-gang Special Area.

"We are also developing two hotels across two plots in Qiantan, Artyzen NEW BUND 31 and Artyzen Habitat. The NEW BUND 31 is notable because it will be a multi-purpose destination that encompasses the best lifestyle choices and cultural dynamics at the heart of the New Bund International Business District – a burgeoning international financial centre circled by residences, schools, leisure facilities and commercial complex with a cutting-edge cultural centre. Our goal is to establish a thriving arts scene in alignment with the 'Green, Grand and Global' vision set for the district," said Mr van der Maas.

Artyzen Cuscaden Singapore Guest Room
Artyzen Cuscaden Singapore Guest Room

Artyzen Hospitality Group is also undertaking its first hotel in Singapore with the development of Artyzen Cuscaden Singapore. Located in the prestigious Orchard neighbourhood, the hotel will bring Singapore's Peranakan culture into its design in partnership with renowned architect Ong&Ong Pty. Ltd. and interior designer firm Nicholas Graham & Associates.

"It is important for us to partner with designers and architects that can ensure that we deliver on our vision of creating culturally rewarding and nuanced experiences to our guests. We chose to work with

Ong&Ong and Nic Graham because they share our passion to reflect Singapore's unique environment and culture, and to reinvent key elements from the rich Peranakan culture and history into the building, interior design, and our service philosophy," said Mr van der Maas.

Mr van der Maas went on to say that the Group has longer term plans to grow its global footprint: "We believe there is a strong opportunity to lead the hospitality industry in developing hotels that are rooted in local cultures to meet the forever evolving demands and preferences for both business and leisure travelers. As such, we are actively assessing opportunities in Australia, Japan, the Maldives, South East Asia and Portugal to grow our footprint beyond Asia. We are confident that our brands and boutique operations truly appreciate and embrace what these culturally rich destinations have to offer."

Artyzen Hospitality Group will be operating 13 hotels, with close to 3,000 rooms in Beijing, Shanghai, Singapore, Macau, and Hawaii, including those under construction.  

Note to Editor

Artyzen Hospitality Group's pipeline of developments and indicative launch dates. Please see additional attachments for fact sheets on each development.


Opening date

Location

Artyzen Habitat Qiantan Shanghai

2021

Qiantan

Artyzen Habitat Lingang Shanghai

2021

Lingang

Artyzen Lingang Shanghai

2021

Lingang

Artyzen Habitat Hengqin Zhuhai

2021

Hengqin

Artyzen Habitat Taopu Shanghai

2022

Taopu

Artyzen Cuscaden Singapore

2022

Singapore

Artyzen NEW BUND 31 Shanghai

2023

Qiantan

About Artyzen Hospitality Group

Artyzen Hospitality Group is a subsidiary of Hong Kong-listed conglomerate Shun Tak Holdings. Launched in 2013, the hotel management company's branded hotel concepts and services bridge an East and West cultural understanding to create and generate profitable partnerships with developers and owners. The Group's portfolio comprises Zitan, Artyzen Hotels and Resorts and Artyzen Habitat. Each hotel brand brings the Group's philosophy of Art, Culture and Emotional Wisdom to life in a unique and contemporary way to provide culturally rewarding guest experiences. Artyzen Hospitality Group is led by a team of highly experienced and globally respected industry leaders known for innovation and talent management. The Group's management practices reinforce their partners' interests while upholding a strong commitment to building environmentally, socially and culturally sustainable properties. www.artyzen.com

Photo - https://photos.prnasia.com/prnh/20191021/2616689-1-a?lang=0
Photo - https://photos.prnasia.com/prnh/20191021/2616689-1-b?lang=0
Photo - https://photos.prnasia.com/prnh/20191021/2616689-1-c?lang=0

Tue, 22 Oct 2019 10:48:00 +0800

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