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Ingdan, Inc. Announces 2024 Annual Results
- With rising demand for chips from AI technology-related industries, AI chip orders from Comtech continued to grow, driving the Group’s revenue up by 14.3% year-on-year to RMB10,129.1 million.
- The Group recorded a gross profit of approximately RMB889.4 million and a net profit of approximately RMB273.5 million. Profit attributable to equity shareholders of the Company was approximately RMB189.9 million.
- Ingdan Academy continued to provide technical services and talent training for the industry and has successfully trained over 2,000 chip application engineers, further advancing the development of China’s chip industry.
Financial Highlights for the Full Year of 2024
Benefiting from sustained strong demand for AI computing power and significant growth in chip demand from AI-related industries, the Group’s revenue for the Year reached approximately RMB10,129.1 million, representing a year-on-year increase of approximately 14.3% compared to RMB8,863.4 million in 2023. The Group’s gross profit was approximately RMB889.4 million, down 13.6% year-on-year; operating profit amounted to approximately RMB427.9 million, down 8.0% year-on-year; and net profit after tax totalled approximately RMB273.5 million, a decrease of 14.5% year-on-year. Increased sales volume to large customers impacted overall gross margins, coupled with higher USD interest costs, leading to a decline in profit attributable to the Company’s equity shareholders. Profit attributable to equity shareholders of the Company was approximately RMB189.9 million.
As of December 31, 2024, the Group held cash and bank balances (including pledged deposits) of RMB839.7 million, bank loans of RMB1,885.9 million, and inventory value of RMB3,510.5 million. The total number of issued ordinary shares was 1,394,262,732, with a basic weighted average of 1,370,327,000 shares.
Empowering Industry Innovation and Operational Efficiency in the AI Computing Power Supply Chain
In the current strategic growth phase of the global semiconductor industry, the synergistic evolution of AI, cloud computing, and IoT technologies, combined with breakthroughs in humanoid robotics, is driving exponential growth in global computing power demand. This trend is not only spurring iterative demand for high-performance computing chips such as GPUs and ASICs but also accelerating technological upgrades across the entire industry chain, including high-speed storage chips and intelligent networking equipment, forming an integrated ecosystem from chip design and manufacturing to end applications. Against this backdrop, Comtech, as a core supplier in the AI computing power supply chain, is deeply involved in global computing network development, serving data centers, AI servers, AI switches, optical modules, and diverse AI applications. Comtech collaborates closely with leading global chip manufacturers, acting as an authorized distributor for over 80 core suppliers, including NVIDIA, AMD-Xilinx, Intel, and many leading domestic chipmakers.
With years of market expertise, Comtech has accumulated extensive technical experience and industrial resources, enabling it to provide chip application solutions and supply chain management services to tens of thousands of downstream clients. Leveraging proprietary AI technologies, large language models (LLMs), and specialized knowledge bases, Comtech delivers intelligent and automated solutions in chip selection, hardware design, software development, and system integration, significantly enhancing product performance and reliability. Additionally, by applying AI and big data analytics to optimize supply chain management, Comtech improves operational efficiency while reducing costs.
Comtech also holds multiple proprietary intellectual properties, including intelligent algorithm libraries, industry-specific LLMs, smart hardware design platforms, adaptive system architectures, and innovative patents, granting it multiple competitive advantages in AI chip applications and intelligent supply chains. By integrating advanced AI technologies with deep industry expertise, Comtech continues to elevate service quality, creating greater value for customers while leading technological innovation in the sector.
Expanding into the New Energy Industry, and Driving Digital Transformation of the Chip Industry Through Ingdan Academy
Ingdan focuses on the new energy sector, developing solutions for two-wheeler battery swapping, re-utilization, and lifecycle management. Its smart battery management platform enables real-time monitoring, improves battery efficiency, and supports traceability from production to recycling. Strategically targeting the two-wheeler battery cloud service market, Ingdan aims to capture opportunities in the RMB100-billion “blue ocean” market, contributing to industry standardization and China’s “Dual Carbon” (peak carbon emissions and carbon neutrality) goals.
Building on the Group’s semiconductor resources, Ingdan Academy introduces cutting-edge chip application technologies to provide technical services and talent training. The Academy collaborates with upstream AI chip manufacturers to promote products and cultivate AI professionals, empowering downstream enterprises to adopt advanced AI solutions. To date, Ingdan Academy has trained over 2,000 chip application engineers, supplying the industry with high-quality talent. Through continuous training and technical support, the Academy is positioning Shenzhen as a global hub for chip applications, and driving national semiconductor industry growth.
Outlook
Mr. Jeffrey Kang, CEO of Ingdan, Inc., said, “As AI technologies propel digital and intelligent transformations across industries, chip applications, smart hardware, and big data are becoming pivotal. We are actively capturing opportunities in the new AI-driven era, and expanding our presence in the AI industrial chain. Comtech will continue to innovate chip application solutions to meet growing demand for high-performance computing power, solidifying its role as a core supplier in the AI computing power ecosystem. Meanwhile, Ingdan will integrate smart hardware solutions via the ‘Ingdan Cloud’ to accelerate AI product deployment. By upgrading our service platforms and covering the entire AI value chain, we aim to lead the industry as a pioneer in AI chip applications.”
Caution Statement
The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made by the Company or any of its affiliates, advisers or representatives as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions presented or contained herein. The information contained in this document should be considered in the context of the circumstances prevailing at the time, is subject to change without notice and the Company makes no undertaking to update the information in this document to reflect any developments that occur after the date of the presentation. It is not the Company’s intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company, or its financial or trading position or prospects. Neither of the Company nor any of its affiliates, advisers or representatives accept any responsibility or have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document.
This document may contain statements that reflect the Company’s current intent, beliefs, and expectations about the future as of the respective dates indicated herein. These forward-looking statements do not guarantee future performance and are based on a number of assumptions about the Company’s operations and factors beyond the Company’s control and are subject to significant risks and uncertainties, and accordingly, actual results may differ materially from those described in these forward-looking statements. Neither the Company nor any of its affiliates, advisers or representatives has any obligation, nor do they undertake, to update these forward-looking statements for any events or developments including the occurrence of unanticipated events that occur subsequent to such dates.
Hashtag: #Ingdan
The issuer is solely responsible for the content of this announcement.
About Ingdan, Inc.
Ingdan, Inc. (stock code: 400.HK) is an innovative technology services platform conglomerate, connecting upstream chip technology with the needs of downstream innovation enterprises. Through proprietary artificial intelligence (AI) technology, large language models (“LLMs”), and specialized industry knowledge bases, the Group provides our customers with cutting-edge of chip application technology solutions, and efficient supply chain management services. Headquartered in Shenzhen, the Group operates offices and branches across major cities in China, including Hong Kong, Shanghai, Beijing, Wuhan, Chengdu, Nanjing, Hangzhou, and Xi’an, as well as overseas branches in Singapore and Japan. The Group’s core businesses are Comtech, a technology services platform for the chip industry, and Ingdan, a platform providing Artificial Intelligence of Things (“AIoT”) technology and services.
For further information, please refer to the Company’s website at www.ingdangroup.com
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Coastline Wealth Management Honored with the Business of the Year Award by Kestra Financial
In addition, joining the Coastline advisory team are industry professionals Scott Gomsak and Scott Raab who have brought in $250 million in collective client assets. With a track record of over 50 years of experience, both Mr Gomsak and Mr. Raab’s contributions have made a considerable impact in securing the award to Coastline. With their presence in Maryland and Pennsylvania, their addition to the team will broaden Coastline’s stance across the tri-state area and strengthen the relationships in the respective communities.
Another factor that assisted in this positive growth included the partial acquisition of Myles Wealth Management and Stensland Financial Group. Marked as Coastline’s 7th and 8th acquisition for 2024, Coastline’s CEO Garrett Taylor cites that this strategic move has added $300 million in assets to the company, bringing the total to $3.5 billion. In addition to assets, the leadership teams of both Myles and Stensland will be working with the Coastline team to ensure the integration of skills and resources, ensuring that clients receive the same service quality and tailored financial strategies.
Hashtag: #CoastlineWealthManagement
The issuer is solely responsible for the content of this announcement.
About Coastline Wealth Management
Coastline Wealth Management, founded in 2012, is a Long Island, NY-based independent wealth management platform with ~$3.5 billion of assets under management/advisement. Coastline services over 5,000 client accounts primarily across the East Coast of the United States. The Company, whose core focus is servicing its client base, has grown by a series of acquisitions as it continues to build its industry-leading, technology-enabled platform. Coastline continues to be a leading consolidator in the wealth management industry and is actively pursuing additional wealth advisor acquisitions (~$50MM to $500MM in assets) as part of its core growth story. By focusing on maximizing the value of advisory practices, Coastline empowers advisors to create sustainable, long-term strategies for transitioning their businesses, ensuring both financial stability and continuity for their clients. Its expertise in navigating the complexities of succession planning enables advisors to secure their legacy while optimizing growth potential, ultimately fostering a seamless transition that benefits all stakeholders involved
Wiggle We Go Tour Launches Nationwide Cultural-Retail Experience
HONG KONG SAR & SHANGHAI, CHINA – Media OutReach Newswire – 3 April 2025 – Hang Lung Properties Limited (SEHK stock code: 00101) (“the “Company” or “Hang Lung”) celebrates its 65th anniversary with an extraordinary retail experience, kicking off a nationwide celebration through its groundbreaking partnership with Korea’s viral pop-culture phenomenon, Wiggle Wiggle. The “Wiggle We Go”, debuting at Center 66 in Wuxi, marks the first in a series of high-energy events that reshape premium lifestyle retail experience with immersive IP-commerce integrations.
Celebrated for its vibrant colors and distinctive designs featuring the signature Wiggle Bear and the smiley flower, Wiggle Wiggle has become a global symbol of urban style and joyful living. Through this partnership, Hang Lung’s six properties, Center 66 in Wuxi, Heartland 66 in Wuhan, Spring City 66 in Kunming, Olympia 66 in Dalian, Parc 66 in Jinan and Riverside 66 in Tianjin will transform into wonderlands of creativity, connecting every space with the brand’s playful energy through whimsical installations and happiness-themed experiences.
Immersive large-scale installations are featured in all six malls
This landmark “Wiggle We Go” activation reimagines the landscape of cultural-retail integration through three captivating dimensions: immersive art-commerce installations that elegantly blur the lines between gallery and retail space; popular collectibles and merchandise that spark viral engagement; and social media-optimized interactive scenes destined to become talk-of-the-town must-visits. Beyond these enchanting offerings, the six malls will embrace specialized elements to unveil even more unique surprises, in addition to the HOUSE 66, loyalty club promotions and events adding another layer of engagement. We invite you to stay connected with our official media platforms for the latest information.
Mr. Derek Pang, Senior Director – Mainland Business Operation of Hang Lung Properties, said, “For 65 years, Hang Lung has transformed cities and redefined retail by creating landmarks through our ’66’ brand, where commerce connects with the community, establishing our leading position as the ‘Pulse of the City’. Our collaboration with Wiggle Wiggle exemplifies this vision – blending global pop culture with local experiences to create immersive, engaging spaces. This anniversary celebrates both our legacy and future ambitions. We extend our gratitude to our partners and customers — your trust fuels our next chapter of growth, innovation, and unforgettable experiences.”
Throughout the year, Hang Lung will unveil other signature celebratory events in Hong Kong and mainland China, continuing our deep engagement with customers and the broader community. These initiatives will set the stage for an inspiring era of collaboration, innovation, and shared success.
Hashtag: #HangLungProperties
The issuer is solely responsible for the content of this announcement.
About Hang Lung Properties
Hang Lung Properties Limited (SEHK stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the “66” brand, the company’s Mainland portfolio has established its leading position as the “Pulse of the City”. Hang Lung Properties is also recognized for leading the way in enhancing sustainability initiatives in the real estate industry, all the while pursuing sustainable growth by connecting customers and communities.
At Hang Lung Properties – We Do It Well.
For more information, please visit 
www.hanglung.com.
Impressive technological applications win international praise, assisting enterprises in going global to explore more opportunities
HONG KONG SAR – Media OutReach Newswire – 3 April 2025 – The Hong Kong Productivity Council (HKPC) debuted with a dedicated pavilion at Hannover Messe 2025 (Hannover Messe), showcasing a range of Hong Kong’s technological applications, which were highly regarded by international companies and investors. HKPC successfully showcased the impressive achievements of Hong Kong’s technological applications to boost Hong Kong and mainland enterprises going global.
Hong Kong’s technological applications win favour, connecting international business opportunities
As the only public organisation representing Hong Kong with exhibits at the event, HKPC showcased a range of scenarios featuring artificial intelligence (AI) technology at Hannover Messe, winning wide praise globally. As a promoter of the exchange and cooperation in technological applications both at home and abroad, HKPC engaged with more than 200 enterprises and research institutions from Germany, Europe and around the world at Hannover Messe. HKPC introduced how to enhance business and improve production efficiency and industry value chains through technological applications such as AI, robots and microfactories. HKPC also showcased the impressive achievements of Hong Kong’s technological applications, raising the profile of the city’s tech scene and strengthening its competitiveness as an international innovation and technology hub.
HKPC also hosted a number of seminars on cutting-edge technologies, each reaching full capacity. Experts from HKPC exchanged insights with industry professionals on the future direction of sectors such as AI and new energy, as well as their development experience in these fields. Industry professionals from around the world gained a deeper understanding of Hong Kong’s R&D achievements.
Hon Sunny TAN, Chairman of Hong Kong Productivity Council stated, “HKPC has actively aligned with the international business community to assist Hong Kong and mainland enterprises in going global, achieving remarkable accomplishments. At Hannover Messe, we showcased a range of Hong Kong’s cutting-edge technologies to the world and had an in-depth exchange with the international business community, highlighting Hong Kong’s unique advantages in innovation and technology and bringing business cooperation opportunities ahead. As the core technology driving industry development, AI has become a global trend. We will further strengthen cooperation with our international partners and capitalise on global wisdom to help Hong Kong’s economy keep booming.”
The AI trend unleashes unlimited possibilities for industry
At Hannover Messe, by displaying exhibits and hosting seminars, HKPC explored how to reform the manufacturing process and improve efficiency through the wide applications of AI. With AI developing rapidly, the Chinese Mainland strongly supports the development of AI+ to achieve industry innovation driven by technology. HKPC has long been involved in the AI sector. The Hong Kong Industrial Artificial Intelligence & Robotics Centre (FLAIR), established by HKPC, unveiled “Hephaestus: Industrial Artificial Intelligence Application Platform” by leveraging cutting-edge algorithms, data analytics, and computing power through AIR@InnoHK, an R&D platform for AI and robotics. This AI-driven data management platform integrates functions such as data management, model training, reasoning and model cloud deployment to help Small and Medium Enterprises (SMEs) in different industries develop AI technologies. This further highlights Hong Kong’s innovation strengths in AI and demonstrates the potential for AI to empower industry.
Actively assisting enterprises in going global
As the world’s largest industrial trade fair, this year’s Hannover Messe brought together some 4,000 exhibitors from the digital and energy sectors, among others, showcasing solutions for production and energy supply for the future. During the event, HKPC organised a dedicated European study mission in partnership with the Hong Kong General Chamber of Commerce to help local companies keep abreast of the development trend of the world’s cutting-edge technologies and to broaden international horizons. In collaboration with the Hong Kong Metals Manufacturers Association, Hong Kong’s technological strengths and superb achievements in metal products were showcased to several key markets.
This month, HKPC will work with national-level research institutions to launch a one-stop service platform in Hong Kong to support enterprises to go global. By leveraging extensive research experience and close ties with world-class partners, HKPC will help enterprises tackle various challenges in international markets, establish a global presence and become more competitive by fully capitalising on Hong Kong’s strengths.
For more information about HKPC’s participation in Hannover Messe 2025, visit our website:
https://www.hannovermesse.de/exhibitor/hong-kong-productivity-council/N1566109
Hashtag: #HKPC
The issuer is solely responsible for the content of this announcement.
The Hong Kong Productivity Council (HKPC)
The Hong Kong Productivity Council (HKPC) is a multi-disciplinary organisation established by statute in 1967, to promote productivity excellence through relentless drive of world-class advanced technologies and innovative service offerings to support Hong Kong enterprises. As a nationwide leader in innovative, market- driven research and development (R&D) internationally, specialising in leading technologies and all-rounded manufacturing services, HKPC promotes new industrialisation in Hong Kong and the Greater Bay Area and facilitates the development of new productive forces, leveraging innovation and technology (I&T), as well as bolstering Hong Kong to be an international innovation and technology centre and a smart city. The Council offers comprehensive innovative solutions for Hong Kong industries and enterprises, enabling them to achieve resources and productivity utilisation, effectiveness and cost reduction, and enhance competitiveness in both local and overseas marketplace. The Council partners and collaborates with local industries and enterprises and world-class R&D institutes to develop applied technology solutions for value creation. It also benefits a variety of sectors through product innovation, technology transfer, and commercialisation, bringing enormous business opportunities ahead. HKPC’s world-class R&D achievements have been widely recognised over the years, winning an array of local and overseas accolades.
In addition, HKPC offers SMEs and startups immediate and timely assistance in coping with the ever-changing business environment and strengthens talent nurturing and Hong Kong’s competitiveness with FutureSkills training for enterprises and academia to enhance digital capabilities and STEM competencies. For more information, please visit: 
www.hkpc.org
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