Media OutReach

Best Mart 360 Announces Annual Results, Recorded Significant Growth in Both Revenue and Net Profit

Published

1 month ago

25/03/2025

Media Outreach

Proposed a Final Dividend of HK10.0 cents per share

Highlights:

Revenue increased by 8.2% to approximately HK$2,805.1 million.
Gross profit increased by 10.6% to approximately HK$1,028.0 million.
Operating profit recorded approximately HK$315.2 million.
Profit attributable to owners of the Company increased by 5.3% to approximately HK$247.5 million.
As at 31 December 2024, the Group operated a total of 176 chain retail stores, including 170 retail stores in Hong Kong and 6 retail stores in Macau.
Basic earnings per share was approximately HK24.8 cents. The Board recommended the payment of final dividend of HK10.0 cents per share.

Financial Highlights:

HK$’000	Year ended 31 Dec 2024	Year ended 31 Dec 2023*	Change
Revenue	2,805,146	2,592,129	+8.2%
Gross profit	1,027,997	929,812	+10.6%
Gross profit margin	36.6%	35.9%	+0.7 ppts
Profit attributable to owners of the Company	247,522	234,959	+5.3%

*Unaudited figures

HONG KONG SAR – Media OutReach Newswire – 25 March 2025 – Best Mart 360 Holdings Limited (“Best Mart 360” or the “Company”, together with its subsidiaries, the “Group”; stock code: 2360.HK), a leisure food retailer in Hong Kong, announced its results for the year ended 31 December 2024 (“the Financial Year under Review”). As the Company changes the financial year end date from 31 March to 31 December, which is different from the length of the previous reporting period, the audited comparative figures may not be fully comparable.

During the Financial Year under Review, the revenue recorded by the Group amounted to approximately HK$2,805,146,000, representing an increase of approximately 8.2% as compared with the unaudited revenue of approximately HK$2,592,129,000 for the year ended 31 December 2023, primarily driven by the Group’s stable stores expansion strategy

During the Financial Year under Review, gross profit was approximately HK$1,027,997,000, compared to the unaudited gross profit of approximately HK$929,812,000 for the year ended 31 December 2023. The Group’s gross profit margin for the Financial Year under Review was approximately 36.6%, representing an increase of 0.7 percentage points compared with approximately 35.9% for the unaudited gross profit margin for the year ended 31 December 2023.

Profit attributable to owners of the Company for the Financial Year under Review was approximately HK$247,522,000 (year ended 31 December 2023: approximately HK$234,959,000 (unaudited)), a 5.3% year-on-year increment. The Group’s net profit margin before interest and tax for the year ended 31 December 2024 was approximately 11.2%, while the unaudited net profit margin before interest and tax for the same twelve-month period in 2023 was approximately 11.4%. The decrease was mainly due to the rising operating cost.

During the Financial Year under Review, basic earnings per share was approximately HK24.8 cents. The Board recommended the payment of final dividend of HK10.0 cents per share.

BUSINESS REVIEW

15 New Retail Stores & Kept Broadening Presence in Hong Kong’s Residential Areas

As at 31 December 2024, the Group operated a total of 176 chain retail stores (31 December 2023: 167 stores), including 170 chain retail stores (31 December 2023: 159 stores) in Hong Kong and 6 chain retail stores (31 December 2023: 7 stores) in Macau respectively. During the Financial Year under Review, the Group opened 15 new retail stores, and closed 6 stores upon expiration of their respective lease terms in alignment with the Group’s expansion strategy adjustment.

Rental expense (cash basis) for retail stores was approximately HK$269,493,000 for the year ended 31 December 2024, as compared with that of approximately HK$241,986,000 for the year ended 31 December 2023 (unaudited), representing an increase of approximately 11.4%. The ratio of rental expense (cash basis) to sales revenue of retail stores for the year ended 31 December 2024 was approximately 9.6%, which was higher than that of approximately 9.3% for the year ended 31 December 2023 (unaudited).

Kept Optimising Product Mix & Increased Share of Sales from Private Label Products

During the Financial Year under Review, the Group continued its global procurement policy and mission by sourcing broad spectrum of products worldwide that meet and satisfy market trend and demand. To better cater to the needs of the local community, the Group further strengthened the supply of basic foodstuffs such as cereals, noodles, canned food, milk, chilled and frozen food, daily necessities and basic grocery products. In addition, the Group continued to strengthen its private label sales in retail stores, including nuts and dried fruits, organic grains, wet tissues, canned food, biscuits and snacks, etc., providing consumers with more diversified choices.

For the year ended 31 December 2024, the Group offered a total of 3,653 stock keeping units (“SKUs”) of products (for the year ended 31 December 2023: 3,945 SKUs) from suppliers principally from China and overseas markets as well as brand owners or importers in Hong Kong.

For the year ended 31 December 2024, approximately 54.9% of the products were purchased from suppliers and brand owners or importers in Hong Kong (for the year ended 31 December 2023: approximately 54.4%), while imports from Japan, China and Europe accounted for approximately 11.7%, 9.8% and 6.3% of the total purchases respectively (for the year ended 31 December 2023: approximately 13.0%, 6.0% and 8.3% respectively).

As at 31 December 2024, the total amount of inventories of the Group amounted to approximately HK$339,513,000 (31 December 2023: approximately HK$276,691,000), a 22.7% year-on-year increment.

During the Financial Year under Review, the Group continued to actively develop private label products that on one hand allow the Group to capture pricing advantages and exercise higher level of quality control on its products and on the other hand further uplift its brand awareness and strengthen customers’ loyalty. For the Financial Year under Review, sales derived from private label products was approximately HK$477,222,000 (for the year ended 31 December 2023: approximately HK$404,078,000), accounted for approximately 17.0% of the Group’s revenue for the Financial Year under Review (for the year ended 31 December 2023: approximately 15.6%). During the Financial Year under Review, the Group had launched an aggregate of 11 private labels, and the products for sale included nuts and dried fruits, organic grains, wet tissues, canned food, biscuits and snacks, etc.

Expanded the Customer Base & Timely Launched Marketing Activities

To further deepen customer stickiness and expand customers’ coverage, the Group used big data analysis and reformulated its marketing strategy to launch a new three-tier membership scheme and a second-generation mobile app in 2020. The new membership scheme helps to elevate brand positioning and market recognition, and the membership rewards have been fully optimised and enhanced, with more member benefits such as multiple items purchase stamp reward, special offers for selected products and access to latest market information.

Through diversified marketing strategies, the Group aims to internally strengthen the membership core from within and attract new customers through external expansion, so as to effectively and purposefully foster the ties between members and the Group, thereby driving recurring business from members and promoting sustainable growth of the Group’s business.

During the Financial Year under Review, the number of the Group’s members increased from approximately 2,123,365 as at 31 December 2023 to approximately 2,280,418 as at 31 December 2024, representing an increase of approximately 7.4%.

To express our gratitude for our customers’ support, the Group launched various marketing and promotional activities during the Financial Year under Review including the “Best Price” promotional campaign, which provided customers with a series of special offers for selected quality products from time to time to enhance customer loyalty. Meanwhile, the Group continued to advertise through television, newspapers, social media platforms and other media, which successfully obtained repeat customers, attracted new customers and greatly promoted the discussions about the Group in the market.

PROSPECTS

In order to maintain robust operational profitability, the Group will continue to review the regional distribution of its brand stores, and adopt appropriate expansion policies and flexible leasing strategies to look for suitable opportunities to expand the retail network for its major retail brands “Best Mart 360° (優品360° )” and global gourmet brand “FoodVille” in Hong Kong and Macau, with a target of achieving a net increase of 10 retail stores annually under its dual-brand model, catering to the diverse needs of different customer segments for quality food products.

Through global sourcing, the Group remains committed to broadening its product categories and maintaining price competitiveness. The Group will continue to source a diverse range of food products worldwide, intensify efforts to develop its private label products, and proactively explore new products to provide customers with a broader range of choices to meet the needs of various consumer groups.

In addition, the Group has entered into a sales and procurement framework agreement with China Merchants Hoi Tung Trading Company Limited (“CMHT”). In 2025, the Group will expand its product sales to and procurement from CMHT and its subsidiaries, facilitating the introduction of several popular brands from Mainland China. The Board believes that through CMHT’s robust network of food importers and distributors, the Group will strengthen its procurement as well as business-to-business (B2B) operations . In addition, the Group has entered into agreements with China Merchants Bonded Logistics Co., Limited* (招商局保稅物流有限公司) and China Merchants Qian Hai Wan (Shenzhen) Supply Chain Management Co., Ltd.* (招商前海灣（深圳）供應鏈管理有限公司). Since last year, they have provided customs clearance, warehousing and related logistics services as well as land transportation services of goods between Shenzhen and Hong Kong and other ancillary services. These have alleviated the pressure on the Group’s warehouses in Hong Kong and reduce overall goods handling costs.

Mr. Hui Chi Kwan, Chief Executive Officer of the Group, said, “As the number of Hong Kong residents traveling abroad continues to rise, along with a shift in the consumption patterns of visitors to Hong Kong, the local retail sector is expected to require additional time to fully recover. In this challenging business environment, the sustained success of our group relies on the steadfast support of our customers and the dedicated efforts of our employees. Looking ahead, the group will persist in implementing timely and adaptive marketing strategies to effectively respond to the dynamic and unpredictable market conditions.”

Hashtag: #BestMart360 #優品360 #AnnualResults #業績 #全年業績

The issuer is solely responsible for the content of this announcement.

Best Mart 360 Holdings Limited

Best Mart 360 Holdings Limited operates chain retail stores under the brand “Best Mart 360˚”, offering wide selection of imported and pre-packaged leisure foods and other grocery products principally from overseas. It is the Group’s business objective to offer “Best Quality” and “Best Price” products to customers through continuous efforts on global procurement with a mission to provide comfortable shopping environment and pleasurable shopping experience to customers. As at 31 December 2024, the Group operated a total of 176 chain retail stores, spanning all of the 18 districts in Hong Kong and strategic locations with heavy pedestrian flow in Macau. Among the chain retail stores, the global gourmet brand “FoodVille” launched in September 2021 is also included, targeting the medium-to-high-end-market.

Media OutReach

Octa Broker Analysis: Why the U.S. Dollar is Struggling Amid Global Trade Turmoil

Published

13 hours ago

29/04/2025

Media Outreach

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 29 April 2025 – The U.S. Dollar, the world’s reserve currency and the ultimate safe-haven asset, is now the world’s worst-performing major currency in 2025. Octa Broker explains why. The historical role of the U.S. dollar as the world’s leading safe-haven currency is under threat. Despite rising macroeconomic uncertainty, investors are fleeing the U.S. dollar, defying conventional safe-haven flows. Greenback’s rapid depreciation over the past weeks has fuelled speculation over the loss of confidence in its safe-haven status. With USDCHF trading news multi-year low, Octa Broker analyzes if we are in the midst of dramatic regime change in markets and explains why the U.S. dollar is struggling amid global trade turmoil.

The U.S. dollar (USD), the buck or the greenback, as it is often informally referred to, has long occupied a rather exclusive position in global finance. Ever since the end of World War II and the establishment of the Bretton Woods monetary system, the greenback has played a crucial role in facilitating cross-border transactions and smoothing international trade flows, in addition to serving as a primary reserve currency for central banks around the world. Being the official currency of the world’s largest economy, the United States, has certainly helped the dollar maintain its dominant position. Indeed, the sheer size of the U.S. economy, its deep and liquid financial markets, strong private property rights and the rule of law enshrined in the U.S. Constitution, and last but not least, the unrivalled power of the U.S. military, made the dollar the most trusted global currency. As a result, the greenback became what market participants call ‘a safe-haven currency’, a refuge for investors during times of macroeconomic uncertainty or market turmoil. Most recently, however, the instability in global financial markets triggered by rising trade tariffs and exacerbated by fears of a global recession seems to have upended this narrative, undermining the dollar’s established role.

Trade tensions
The U.S. dollar has been depreciating almost relentlessly since mid-January. In just three and a half months, the Dollar Index (DXY), which measures the value of the greenback relative to a basket of six major foreign currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc, lost more than 10% in value (from 13 January high to 21 April low). On 11 April, it breached the critical 100.00 level, and although it has since increased slightly, it remains by far the worst-performing currency among other major currencies this year so far. This decline has raised an important question: Is the U.S. dollar losing its safe-haven status, or is it merely a temporary setback.

The catalyst for the dollar’s slide is rooted in the escalating trade tensions, particularly the aggressive tariff policies enacted by U.S. President Donald Trump. In recent weeks, the U.S. imposed a 10% baseline tariff on all imports, with much steeper duties imposed on key trading partners like China, which, in turn, retaliated with its own 125% levies on U.S. goods. These moves have stoked fears of a global recession, as international supply chains may get disrupted with potentially devastating consequences for the world economy. Historically, such uncertainty would bolster the dollar, as investors seek the safety of U.S. assets. However, this time around, the greenback is faltering, while alternative safe-haven currencies like the Swiss franc (CHF) and Japanese yen (JPY) are gaining ground.

Hedging
Kar Yong Ang, a financial market analyst at Octa Broker, says that the U.S. dollar’s recent weakness is driven by a diversification shift among investors into alternative safe-haven currencies, motivated by risk-hedging and fears over the growth prospects of the U.S. economy. ‘We are witnessing a major reallocation of capital. Market participants realise that in a trade war, there are no winners. In the short term, the U.S. economy will face the consequences, and they will not be pretty. Big players with large investments in the U.S. realised they needed to hedge their currency risk, so they moved into the Swiss franc and the Japanese yen. Also, higher tariffs are fuelling recession fears, so traders have increased their bets on additional rate cuts by the Fed [Federal Reserve]. That too had a bearish effect on the greenback’.

Indeed, on April 21, USDCHF dropped below the 0.80500 mark, the level unseen in almost 14 years, while USDJPY was hovering near the critical 140.00 area, a drop below which will open the way towards new multi-year lows. Significant shifts in capital flow allocations have prompted some analysts to conclude that the U.S. dollar is facing a crisis of confidence. However, Octa analysts have a different view and believe that the current situation doesn’t reflect a broad erosion of investors’ long-term trust in the U.S. dollar. Kar Yong Ang said: ‘The issue isn’t so much a fundamental loss of faith in the U.S. dollar’s long-term prospects. What we are witnessing right now is a dramatic, yet logical response to the probable economic implications of Donald Trump’s trade policies. You have an administration, which is effectively re-structuring the global trade order, that does not conceal its dissatisfaction with the Fed and apparently believes in a weak dollar. If you’re a foreign investor in the U.S., you simply cannot afford to be unhedged these days. But also, let’s not forget that the greenback has been falling from relatively high levels, so a healthy downward correction was long overdue’. In other words, the recent slide in the U.S. dollar is not an unusual phenomenon or an anomaly; it is quite natural and probably a short-term occurrence. In fact, even after an 11% drop in 2025, the greenback is still some 38% above its historical low set in 2008. Furthermore, it is clear that once key global actors adopt more conciliatory diplomatic rhetoric and engage in active trade negotiations, the situation will normalise immediately.

Conclusion
As for the dollar’s long-term prospects, its dominant status will likely continue to be challenged, but no single currency can take its crown for now. According to the Bank of International Settlements (BIS), the U.S. dollar still accounts for nearly 88% of international transactions, and its dominance in Forex markets remains unmatched, with daily trading volumes dwarfing those of the yen or franc. According to the International Monetary Fund (IMF), more than half (57.8%) of the $12.4 trillion in global foreign exchange reserves were in U.S. dollars. Therefore, while the greenback may not be the automatic refuge it once was, its role as a Forex cornerstone endures for now.

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Hashtag: #octa

The issuer is solely responsible for the content of this announcement.

Octa

Octa is an international CFD broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In Southeast Asia, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively

Media OutReach

Arrow Electronics Empowers Xeleqt with AIoT Technologies Adoption to Boost Workforce Productivity and Worksite Operations in the Philippines

Published

13 hours ago

29/04/2025

Media Outreach

MANILA, PHILIPPINES – Media OutReach Newswire – 29 April 2025 – Global technology solutions provider Arrow Electronics is providing engineering expertise and services to Xeleqt Technology Innovations Inc. (Xeleqt), a Philippines-based tech startup, for developing its AIoT (Artificial intelligence of things)-powered solutions and offerings to help optimize workforce productivity and engagement across retail, construction, utilities, and manufacturing industries.

Arrow Electronics Empowers Xeleqt with AIoT Technologies Adoption to Boost Workforce Productivity and Worksite Operations in the Philippines

Powered by advanced electronic components and AI algorithms, Xeleqt’s AIoT devices and systems can help streamline workflows, digitize repetitive tasks, minimize human errors, and empower employees with real-time analytics for optimizing workforce management.

Companies are increasingly combining the power of AI and the Internet of Things (IoT) to create smarter, more powerful systems that enhance operational efficiency, enable data-driven decision-making, and provide optimal service experiences. The AIoT market in Asia-Pacific is projected to reach a revenue of US$261 million¹ by 2030, with a compound annual growth rate of 36%.

Founded in 2021 and based in Cebu City, Philippines, Xeleqt is an award-winning startup specialized in providing AIoT-enabled application services tailored to their specific business needs of SMEs. The growing complexity and high implementation costs of AIoT systems present significant barriers for many SMEs in adopting these digital tools and solutions.

“We are dedicated to harnessing the power of AI and IoT technologies to revolutionize the collaboration between people and machines in the physical world. AIoT-powered devices not only provide humans with real-time intelligence and insights but also enhance workforce agility, engagement, and safety. By offering an AIoT-as-a-service model, our customers can benefit from affordable, easy-to-deploy digital solutions that reduce risk, monetize idle capacity, protect essential workers, and improve service quality,” said Norman Curato, CEO and co-founder of Xeleqt. “As an emerging tech startup, we rely on global technology leaders for guidance and best practices. Arrow has provided us with the essential engineering expertise and tools to overcome technical challenges and accelerate our AIoT design-to-prototype-to-product innovation journey.”

Arrow supplies approximately 70% of the electronic components utilized by Xeleqt, ranging from AI chips, sensors, Bluetooth/WiFi connectivity modules to interconnect, passive and electromechanical components. The Arrow technical team has contributed engineering expertise and design tools to help Xeleqt address technical challenges, accelerating the transition from design to prototype to final product. Some of Xeleqt’s AIoT products are expected to launch recently include:

WorkTraQ – a wearable device, equipped with Bluetooth location sensing, NFC module, advanced movement, and audio recognition AI to gather comprehensive data on worker activities and environmental conditions
TimeTraQ is an always-on, fully connected, self-diagnosing time-and-attendance device that calculates the cost of shift hours in real-time and generates payroll. Embedded with facial or vein recognition camera, tampering and jamming detection features, it allows seamless identification and anomaly detection, enhancing security while minimizing administrative overhead.
OmniTraQ is a telematics device equipped with a low-power, long-range connectivity module. It enables reliable data transmission across vast remote or rugged environments without the need for extensive network infrastructure.

Dr. Raphael Salmi, president of Arrow Electronics’ South Asia, Korea, and Japan components business, said, “The adoption and integration of AIoT technologies propel industries towards a more interconnected and intelligent future. The contemporary AIoT ecosystem requires extensive technology competencies, from product ideation and design to engineering, supply chain management, and manufacturing. With our extensive network of technology suppliers and world-class technological capabilities, we are well positioned to provide optimal support to Xeleqt and many other tech startups as they endeavor to simplify and scale up AIoT offerings.”

In addition, Arrow’s Silicon Expert intelligence tool and service help mitigate risks throughout a product’s entire lifecycle, from development and production to sustainment. Empowered by Arrow’s comprehensive technology portfolio and Silicon Expert’s tool, Xeleqt gains real-time operational insights, optimizes parts availability, reduces costs associated with the bill of materials, and minimizes risks.

^1. https://www.grandviewresearch.com/horizon/outlook/artificial-intelligence-of-things-aiot-market/asia-pacific

Hashtag: #ArrowElectronics

The issuer is solely responsible for the content of this announcement.

About Xeleqt

Xeleqt, founded in 2021 and based in Cebu City, Philippines, specializes in AIoT products and solutions for human resources and asset management. Its main offerings include workforce engagement tools, payroll automation, and wage automation services, primarily serving field service industries and companies.

About Arrow Electronics

Arrow Electronics (NYSE:ARW) sources and engineers technology solutions for thousands of leading manufacturers and service providers. With global 2024 sales of $28 billion, Arrow’s portfolio enables technology across major industries and markets. Learn more at arrow.com.

Media OutReach

UNDP and Trigger Team Up to Supercharge SDG Startups and Businesses with Smarter Investment and Support

Published

13 hours ago

29/04/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 29 April 2025 – The United Nations Development Programme (UNDP) and Trigger Asset Management (Trigger) have launched a landmark partnership aimed at unlocking capital and strengthening support for startups and businesses advancing the Sustainable Development Goals (SDGs). This collaboration brings together UNDP’s global innovation and finance expertise with Trigger’s strength in sustainable and scalable investment solutions.

Led by UNDP’s Alternative Finance Lab (AltFinLab), the initiative called “‘Origin” will enhance the efficiency, transparency, and accessibility of impact investment opportunities for mission-driven startups and businesses, particularly those nurtured by UNDP’s accelerator programmes.

Based in Singapore, Trigger is a leading investment management firm committed to building impact-oriented financial ecosystems to tackle global challenges from climate action and poverty reduction to health and education.

Through this initiative, UNDP and Trigger will co-develop infrastructure and strategies to help promising SDG-focused ventures and businesses reach scale and sustainability.

Key areas of collaboration include:

Designing and launching investment opportunities for SDG-aligned startups and businesses that will be guided by structured acceleration and incubation pathways;

Creating a next-generation AI and Web3-powered digital platform to connect startups and businesses with investors and streamline collaboration;

Building a comprehensive, interactive database of startups and businesses supported by UNDP accelerator programmes, enabling smart matchmaking between ventures, donors, and investors;

Delivering tailored capacity-building programs, including training in SDG impact management, innovative financing, business development, and agile project design;

Rolling out a Digital MBA programme and peer learning workshops to upskill business owners and enhance organizational readiness for investment.

“We’re seeing enormous potential in SDG-aligned startups, but they often struggle to attract the right kind of investment or support,” said Robert Pasicko, Team Leader for AltFinLab at UNDP Europe and Central Asia. “This partnership with Trigger is about bridging that gap—making it easier for impact investors to find and fund ventures solving real-world problems, while giving those ventures the tools and networks they need to thrive.”

“This partnership is a critical step toward redefining how impact capital is mobilized and applied,” said Goh Seh Harn, Founder and CEO of Trigger Asset Management. “We are building an ecosystem where capital not only scales businesses but also fuels systemic change for people and the planet.”

By combining UNDP’s global development reach with Trigger’s leadership in sustainable investment, the partnership is poised to support a new generation of investment-ready startups and businesses capable of delivering economically sustainable, and measurable social and environmental impact at scale. More information at www.triggervc.com

Hashtag: #TRIGGER #UNDP #impactinvesting #sustainableinvestment #sustainabledevelopment

https://www.triggervc.com/
www.triggervc.com.

UNDP

UNDP is the leading United Nations organization working to end the injustice of poverty, inequality, and climate change. With a presence in 170 countries and territories, UNDP helps nations build integrated, lasting solutions for people and planet. Learn more at undp.org or follow @UNDP.

UNDP AltFinLab

AltFinLab is UNDP’s flagship innovation lab for alternative finance, pioneering solutions in blockchain, crowdfunding, and impact investing. It works with governments, startups, and private sector partners to mobilize resources for sustainable development.