Tagged: FRN

Nature Home Achieves Turnaround in 1H2014

Revenue and Gross Profit Up by 37% and 50% to Approximately RMB776 Million and RMB253 Million Respectively

Further strengthened the integrated household product strategy by introducing an O2O platform to seize online and offline shopping opportunities

HONG KONG, Aug. 29, 2014 /PRNewswire/ —

Financial Highlights:

Unaudited results for the 6 months ended 30 June

2014

RMB’000

2013

RMB’000

Change

%

Revenue

776,398

566,977

+36.9

Gross Profit

252,658

168,888

+49.6

Profit Before Tax

26,679

(47,370)

N/A

Profit Attributable to Equity Shareholders

19,715

(55,248)

N/A

Profit Attributable to Equity Shareholders (excluding the net change in fair value of biological assets)

25,694

18,111

+41.9

Basic Earnings per Share (RMB)

0.013

(0.037)

N/A

Nature Home Holding Company Limited (“Nature Home” or the “Company“, together with its subsidiaries, the “Group“; HKEx Stock Code: 2083), announced today its interim results for the six months ended 30 June 2014 (the “Period“).

During the Period, the Group achieved encouraging financial results with revenue increased by 36.9% to approximately RMB776 million. Gross profit surged 49.6% to approximately RMB252 million. Profit attributable to equity shareholders reached approximately RMB20 million, representing a turnaround in the Period as compared to the loss attributable to equity shareholders recorded in the corresponding period of 2013. The turnaround is mainly attributable to the reduction of the negative net change in fair value of the Group’s biological assets, as well as the increase in the Group’s revenue and gross profit. During the Period, approximately 10.09 million square meters of flooring products were sold (1H2013: approximately 8.45 million square meters), representing an increase of 19.4% year-on-year.

Mr. Se Hok Pan, Chairman and Executive Director of Nature Home stated, “In the first six months of 2014, we continued to strengthen our efforts on brand building and sales, to further broaden the coverage in international markets under the intensified industry competition, this is reflected in the significant increase in the trading revenue of timber and wood products. The turnaround recorded during the Period reflected the success of our business development strategies, brand building and sales efforts. With the change of our Company name to Nature Home Holding Company Limited, we aim at achieving our goal in offering integrated household products with our Nature brand, representing an image of high quality, safe and environmentally-friendly household brand.”

Manufacturing and Sale of Wood Products

During the Period, turnover of the Group’s manufacturing and sale of wooden products has increased 39.2% to approximately RMB527 million, mainly attributable to the continued recovery of the Group’s flooring business in the PRC and the overall increased sales in flooring products.

The Group has successfully developed a solid and extensive sales network in the PRC. It has 1,856 “Nature” stores, 1,121 “Nature No.1 My Space” stores, 152 “Nature Aesthetics” stores, 99 foreign imported brand stores and 116 other brand stores as at 30 June 2014, amounting to 3,344 stores in total.

Nature Home will continue to focus on the development in the business of wooden doors, wardrobes and cabinets with the “Nature” brand, striving to improve such business in the future with the completion and operation of the new product line in the newly opened Taizhou Production Plant in Jiangsu Province, the PRC and the planned trial production of the Zhongshan Wardrobes and Cabinets Plant in the second half of 2014.

Trading of Timber and Wood Products

For the overseas market, the recovery of the global economy, especially the economy of the U.S., has created a favorable environment for the development of the Group’s business and brought to the group significant growth in the trading business revenue of timber and wood products. The Group’s subsidiaries located in the U.S. have further boosted the Group’s business development by establishing additional sales channels, which resulted in a sustained growth in the Group’s sales for the trading of wood flooring products in the U.S. During the Period, the Group’s trading business of timber and wood products contributed a revenue of approximately RMB165 million, representing a significant increase of 61.8% as compared to approximately RMB102 million in the corresponding period of 2013.

Chairman Se concluded, “Looking forward, the Group is still facing various challenges. However, the Group has captured the opportunities from the trend of online and offline shopping. We plan to establish an online housing O2O platform for the household industry to provide our customers with a one-stop solution with household products, logistics and decoration as well as installation service. The Group also plans to open ‘O2O Household Package Experience Stores’, which will display different packages of household products, offering customers an open experience for household products. We will also continue to implement our strategy of integrated household products and enhancing our household brand with a combination of online and offline platforms, in order to maximize the effectiveness in sales of the household brand. We will also strive for better performance in the future for the relevant business, especially with the new production line of wooden doors in the Taizhou Plant and a new production line of wardrobes and cabinets in the Zhongshan Plant. As one of the largest wood flooring brands in China, we have full confidence in our business and we will continue to reinforce our leading position in the industry to maximize returns to our shareholders.”

About Nature Home Holding Company Limited

Nature Home is the largest wood flooring brand in China in terms of market share by retail sales value of branded wood flooring products. According to an industry report of China’s flooring market conducted by an independent global market research and consulting company (the “Industry Report”), the Group’s “Nature” branded products accounted for 7.0% market share in terms of China’s total retail sales value of branded wood flooring products in 2011. The Group’s branded products are manufactured through a combination of its own manufacturing facilities and exclusive authorized manufacturers.

According to Industry Report, in 2011, the Group’s branded products ranked second in laminated flooring, first in multi-layered engineered flooring and first in solid wood flooring, each in terms of both the market share of retail sales volume and retail sales value in China. The Group is the only company to achieve a top two market share position across the three primary wood flooring product categories in China in 2011. Leveraging its strong brand, extensive distribution network, comprehensive product portfolio and flexible manufacturing model, the Group grew rapidly and gained market share in China from 2008 to 2011.

To see the full version of this release, including financial tables, click here: http://photos.prnasia.com/prnk/20140829/8521404880-a

Dongpeng Holdings Company Limited Announces 2014 Interim Results

Revenue Increased by 27.4% to RMB1,623.9 Million

Profit Attributable to Owners of the Company Surged by 47.7% to HK$179.1 Million

HONG KONG, Aug. 27, 2014 /PRNewswire/ —

Financial Highlights

For the six months ended 30 JuneRMB Million

2014

(Unaudited)

2013

(Audited)

Change %

Revenue

1,623.9

1,274.7

+27.4%

Gross profit

579.5

473.4

+22.4%

Gross margin

35.7%

37.1%

-1.4pts

Profit attributable to owners of the Company

179.1

121.2

+47.7%

Net Profit Margin

11.0%

9.5%

+1.5pts

Basic earnings per share 

RMB0.14

RMB0.13

+7.7%

Dongpeng Holdings Company Limited (“Dongpeng” or the “Company” and, together with its subsidiaries, the “Group”, Stock Code:3386), the largest ceramic tile company in China, announced its interim results for the period ended 30 June 2014 (the “Period”).

In the first half of 2014, the Group leveraged its dual sales model of direct sales and third party distributors to continuously realize an effective and efficient expansion strategy, increase market recognition of “Dongpeng” brand, expand the customer base, deliver high quality customer services, and further enhance the Group’s leading position in the industry. During the Period, the Group’s total revenue amounted to approximately RMB1,623.9 million, representing an increase of 27.4% (1H2013: approximately RMB 1,274.7 million). The increase in total revenue was primarily attributable to an increase in the sales of the high-end glazed tile products and bathroom products.

During the Period, the Group recorded the gross profit of RMB579.5 million, representing an increase of 22.4% over the corresponding period last year (1H2013: approximately RMB473.4 million). The gross profit margin slightly decreased 1.4 percentage points to 35.7% (1H2013: 37.1%). Profit attributable to owners of the Company was approximately RMB179.1 million (1H2013: approximately RMB121.1 million), representing a significant increase of 47.7% as compared to the same period last year.

Business Review

For the six months ended 30 JuneRMB Million

Revenue

Change

% of Total Revenue

2014

(Unaudited)

2013

(Audited)

%

2014

2013

Unglazed Tile Products

647.6

621.8

+4.1%

39.9%

48.8%

Glazed Tile Products

754.5

596.9

+26.4%

46.4%

46.8%

Subtotal

1,402.1

1,218.7

+15.1%

86.3%

95.6%

Bathroom Products

221.8

56.0

+295.8%

13.7%

4.4%

Total Revenue

1,623.9

1,274.7

+27.4%

Ceramic Tile Business

The ceramic tile business is mainly consisted of the sales from unglazed tile products and glazed tile products. During the Period, revenue from glazed tile products increased by 26.4% to RMB754.5 million (1H2013: RMB596.9 million), while revenue from unglazed tile products increased by 4.1% to RMB647.6 million (1H2013: RMB621.8 million).

The Group’s continuous sales and marketing efforts and expansion of sales channels sustained the growth of the ceramic tile business during the Period. The Group newly increased 216 retail outlets (including self owned and third party operated) to the total number of 1,825, covering over 600 cities across all provinces in China. Meanwhile, the Group continued to devote significant resources into technological innovation, new product design and development, and introduced 19 new product series including the glossy glazed tiles product series, namely Iran White Jade series, Cappuccino series and landscape stone series, and the unglazed tiles product series, namely matt supreme travertine series and world travertine series. In addition, the Group continued to expand and diversify the product of ceramic chips into the mass-market products and boosted the sales growth. At the same time, sales of the antique-inspired tiles also ramped up and their usage in real estate projects increased.

Bathroom Products Business

The acquisition of Dongpeng Sanitary Ware in May 2013 significantly promoted the bathroom products business with the revenue increased by 295.8% to RMB221.8 million (1H2013: RMB56.0 million). In July 2014, the Group acquired 62% equity interests in Innoci in order to expand its business in the mid to high-end bathroom product market. Leveraging excellent product design capabilities and brand positioning of Innoci’s talented and experienced product design team, as well as production capacity, distribution channels and logistic advantage of the Company, it will bring new momentum to Dongpeng to expand its business and sales in the contemporary and design-driven market sector, propelling the long-term steady development of the bathroom product business.

Utilization of On-line Sales Platform

Due to changing consumers’ shopping habits, the Group has increased its online sales effort. During the first half of 2014, the Group has conducted online marketing sales events across China with many well known internet portals, including Jia.com, CityTogo.com, Meilele.com, 17house.com, to8to.com, etc. These online sales events allow the Group to reach out to customers, and capture new market shares rapidly. For illustration, regarding the strategic collaboration with Jia.com, the Group planned to set up 11 provincial experience centers across China, of which 5 are already opened and the remaining 6 centers are under renovation. Further, there were a total of 14 marketing sales events with Jia.com during the six months ended 2014, each highly successful with an attendance of over 1,200 people.

Looking ahead, the Group will strive to achieve greater synergic effect between its ceramic tile business and bathroom products business. The Group will also draw on the high-end stylish positioning of Innoci to strengthen its brand recognition and solidify its leading market position in the PRC ceramic tile market. Furthermore, the Group will increase its effort in cross selling, enhance distributor management, improve its product mix and operational efficiency, as well as allocate more resources into the development of online sales channels so as to seize the business opportunities in the online consumer market and create connections between online and offline stores.

Mr. He Xinming, the Chairman of Dongpeng said, “China’s economy is expected to maintain its steady growth in the second half of 2014. In addition, as the home decoration and improvement market has always been less volatile in comparison to the property market, the Group believes that continued urbanization, increasing in per capita disposable income, growing demand for home renovation and upgrading activities will continue to fuel China’s home decoration and renovation market in the second half of 2014. Leveraging on the long-established Dongpeng brand, its outstanding operational, marketing and logistics efficiencies and direct access to the capital market after the IPO, Dongpeng will actively expand its business and optimize nationwide sales network, bringing returns to its shareholders.”

About Dongpeng Holdings Company Limited

Dongpeng Holdings Company Limited is the largest ceramic tile company in China with leading market share in high-end ceramic tiles market in China. Dongpeng designs, develops, produces, markets and sells a wide variety of ceramic tile and bathroom products sunder the “Dongpeng” brand, which has been recognized as the most valuable brand in the industry among China’s 500 Most Valuable Brands by the World Brand Laboratory for eight consecutive years. Dongpeng manages an extensive nationwide sales network 1,825 retail outlets covering over 600 cities across China. Its products are also sold in 66 countries worldwide. Leveraging on its strong innovation and development capabilities, advanced SAP system and extensive nationwide sales network, Dongpeng will continuously strengthen its brand recognition, optimize its sales network, enhance its product mix and expand its bathroom products business, so as to solidify its leading market position.

To see the full version of this release, click here:: http://photos.prnasia.com/prnk/20140827/8521404828-a

New Highlights at CIFF 2014 September in Guangzhou

— All themes Cast, Leading the Autumn Furniture Fashion

GUANGZHOU, Aug. 15, 2014 /PRNewswire/ — China International Furniture Fair (Guangzhou) (“CIFF”) is known as “No.1 platform for the world class”, “Asia’s furniture sourcing center” and “the weatherglass of China’s furniture industry”. It is held biannually in Guangzhou every March and September since 1998, with the exhibits covering furniture, furnishing products and their upstream and downstream industries. On September 5-8, 2014, the 34th CIFF will offer the complete series of furniture and upgrade the service further!

Hall Plan

Hall Plan

Complete Series of Furniture Forming an Autumn Grand Event.

The September show of CIFF in the past was main for home living with exhibits of Home Furniture, Outdoor Furniture, Home Decor, Home Textile and other upholsteries. The 34th CIFF will make a large reform by adding Office Furniture, Hotel Furniture, Public Furniture and Furniture Machinery & Raw Materials for the first time. CIFF has become an integrated one-stop international exhibition platform, linking up the whole chain of furniture market, working for home and office environments and covering the full series of the furniture & furnishing products.

Quality Suppliers and Industrial Elites Gathering to Create Business Opportunities

The scale of CIFF 2014 September reaches 200,000SQM. Over 1000 quality suppliers will take part in the show with their brand new products and best offers. It is expected that the professional buyers and other industry’s professionals from more than 190 countries and regions will attend the show. The domestic large buyers groups and international buyer delegations, designer groups from Germany, Belgium, Russia, the United States, Australia, Turkey, Japan and so on will also visit the 34th CIFF in Guangzhou.

Parts of the Big Brands:

Mordern Home Furniture: Landbond, Kinetic, KUKA, Hinglee, Kinwai, Royal, Steel-land, Norya, Somnopro, Violino, Farrell, Show-win, Lixing…

Classic Home Furniture: Fourseas, Lebetter, Ouevane, Tianyuan, Armola…

Office and Hotel Furniture: New Century, Hongji, Zhenmei, Catering, Meibang, Lidan, Suniver, Yousheng, Haijing, Kivik…

Outdoor Furniture: Perfect, Global-Gate, Derong, Tengo, YATN,Flyhang Rattan…

Home Decor & Home Textiles: Creative, Jiemei, Mydeco Living, Nikky Home, Kingking, Kamtat, Laifei, Dechang, Sitong, Blossom, Baller…

Furniture Machinery & Raw Materials: Leliu Hardware, Union Star, Taiming, Taiqiang, Xiangxing, Zhaogang, Zhuokai…

Upgraded Service faciliating your visit at CIFF

From the last edition,  CIFF has simplified the entry procedure and speed up the badges application. CIFF 2014 September will continue to implement the fast procedure that you just need your ID card and business card to fetch the entry badges before entering the fair without any form filling or fee.  In addition, the new version of the official website of http://www.ciff-gz.com and the APP application software, will launch the quick Search & Naviation systems to further optimize the easy service experience of more convenience, efficiency and pleasance.

Let us expect and enjoy CIFF 2014 September in Guangzhou!

陈骏 Chen Jun
+86-20-89128065
1251089755@qq.com

Photo – http://photos.prnasia.com/prnh/20140814/0861405758

Kewaunee Scientific Corporation Opens First Facility in China

STATESVILLE, N.C., Aug. 14, 2014 /PRNewswire/ — Kewaunee Scientific Corporation (NASDAQ: KEQU), a recognized leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products since 1906, today announced  it had officially opened its first facility in China. The 10,000 square feet facility is strategically located in Suzhou Industrial Park in the general vicinity of Shanghai and also serves as Kewaunee’s China headquarters.

The facility, which will primarily serve customers in the local China market, will be used as an assembly operation for products imported from the Company’s other factories and for the stocking and distribution of Kewaunee fume hoods and safety cabinets.  It also includes space for sales and project support staff, a product showroom, and a laboratory for SEFA and ASHRAE testing.

“We are extremely excited about our new Suzhou facility,” said David M. Rausch, Kewaunee’s Chief Executive Officer, who along with a number of other Company executives and local guests participated in the recent inauguration festivities at the facility. “China has been identified as one of Kewaunee’s key growth markets, and this new facility, combined with an on-going expansion of our sales organization in the country, positions Kewaunee to build on its success in recent years in China. Our past business in China has included a number of government and private laboratory projects, including the prestigious Beijing Olympics drug testing laboratory. Also, many of China’s current nuclear power plant test laboratories were provided by Kewaunee.”

About Kewaunee Scientific
Founded in 1906, Kewaunee Scientific Corporation is a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. Products include steel, wood, and laminate casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin worksurfaces and sinks.

The Company’s corporate headquarters are located in Statesville, North Carolina. Direct sales offices are located in the United States, India, Singapore, and China. Three manufacturing facilities are located in Statesville serving the domestic and international markets, and one manufacturing facility is located in Bangalore, India serving the local and Asian markets. The Company has subsidiaries in Singapore, India, and China.

The Company’s China headquarters, sales office, and assembly operation are located in Suzhou Industrial Park, China. Kewaunee Scientific’s website is located at http://www.kewaunee.com.

This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the Company’s future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “predict,” “believe” and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to important factors, risks, uncertainties and assumptions, including industry and economic conditions that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning these factors is contained in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this document. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

D. Michael Parker

+1-704-871-3290