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Substantial Reduction in Loss
Successfully Achieved Strategic Business Transformation
Mapping out the Blueprint of Longevity Science Business through Multiple Aspects |
HONG KONG, Mar 30, 2021 - (ACN Newswire) - Zhong Ji Longevity Science Group Limited ("Zhong Ji Longevity Science", together with its subsidiaries, the "Group"; stock code: 0767.HK) is pleased to announce its audited consolidated annual results for the year ended 31 December 2020 ("reporting year").
The Group was principally engaged in the business of money lending, securities and other investments, financial and investment advisory, as well as property investment before. The aging population across the globe has fuelled growing demand for health supplements and longevity products. The Group has discovered the huge potential and invested substantial resources in mapping out its blueprint in the longevity science sector, and subsequently realised the transformation of its business during the reporting year by extending its business to the development and sales of Nicotinamide Mononucleotide (NMN) longevity biological products with great breakthroughs. Meanwhile, the Group is committed to establishing a leading ecosystem platform in longevity science, tapping into the development of cell and gene therapy, as well as advanced medical technology.
During the reporting year, the Group's results were primarily contributed by the business of money lending, securities and other investments, as well as financial and investment advisory. Without having recovered from trade protectionism and geopolitical tensions, the global economy was crushed by the Coronavirus Disease 2019 ("COVID-19" or "pandemic"), poor investment sentiment and other unfavourable factors. The Group's revenue was approximately HK$80,022,000 (2019: HK$145,846,000) during the reporting year. Nevertheless, the Group managed to recover certain debts that had been made provisions in year ended 31 December 2019, loss for the year substantially narrowed to approximately HK$10,700,000 (2019: loss of HK$825,969,000). Basic and diluted earnings per share were HK0.30 cents.
Mr. YAN Li, Chairman and Executive Director of Zhong Ji Longevity Science Group Limited, said, "2020 was an exceptional year for the world. While the outbreak of COVID-19 struck a devastating blow to the globe, the accompanying instability and rapidly changing market environment have become new normal. Nonetheless, in the midst of every crisis lies a great opportunity. With increasing public awareness over health issues and aging population in society, professional services on extending human life span, enhancing quality of life and high-end medical care hold the keys to unlock the new blue ocean. While doubling efforts in operating its principal business, the Group grasped the huge potential in longevity science medical sector. Thanks to the tremendous support of shareholders and staff members, the Group successfully achieved strategic transformation of its business during the reporting year and outlined a blueprint for its brand new operation of longevity management solutions. Riding on the improved cognizance of health matters, the Group will give full play to its competence to pilot the blue ocean."
During the reporting year, the Group pushed forward the transformation to longevity science business in various aspects. Not only has the Group optimised its investment in the research of the segment, it also recruited an elite team of international biotech and medical talents, including the appointment of Academician Randy Wayne Schekman, a winner of Nobel Prize in Physiology or Medicine, as the Honorary Chairman and Chief Scientist of the Group, as well as seasoned executives from the field of advanced medical and biotechnology. In addition, the Group leased a 36,000 square foot production plant in California, the United States, for the research and development ("R&D") and production of NMN longevity biological products. With certifications of cGMP, FDA and NSF of the United States, the production plant is certificated for drug manufacturing, healthcare product processing and organic food processing in California, thereby lending constant supports to the production and technology of the Group's flagship products. The longevity biological products of the Group are expected to deliver solid protection in health and longevity for people pursuing high-quality life worldwide.
Entering 2021, the Group has realised a strategic plan in developing advanced medical testing and life management, as well as the R&D and transformation of cell and gene therapy. In terms of advanced medical testing and life management, the Group completed the acquisition of two testing centres, namely Irving Weissman International Advanced Medical Testing Centre and Asian Advanced Medical Testing Centre. The testing centres boast a combined of 19 categories of cell, health index and disease testing platforms. Regarding the R&D and transformation of cell and gene therapy, the Group entered into a non-legally binding memorandum of understanding with a potential vendor in relation to the acquisition of the largest international auto-immune cell bank in the world to better serve the medical needs of general public. Moreover, to further enhance its R&D capability and extend its business network, the Group formed a strategic partnership with Thermo Fisher Scientific (Hong Kong) Limited ("Thermo Fisher"), a forerunner in the field of life science. Thermo Fisher will prioritise the Group in the provision of its latest life science technology, software and solutions, so as to propel the Group's development in longevity science and medical diagnosis. The Group also entered into an investment cooperation framework agreement with Hubei Mailyard Share Co., Ltd. (stock code: 600107.SH), in which a joint venture company will be established in Xiantao City, Hubei Province, focusing on commencing advanced medical services such as cancer prevention and early screening, longevity medical examination and cell management, as well as distributing longevity dietary supplements, and providing longevity management services and solutions.
Mr. YAN Li concluded, "Looking ahead, the Board is committed to accomplishing the vision of 'helping people live longer and healthier lives', leading the Group to give full play to its competence in longevity science and continue to capture opportunities in the industry. We will allocate more resources to the establishment of a full value chain for longevity science medical sector. The Group is determined to expand its market share and build a reputable brand through launching more products via different channels across the world. At the same time, we will join hands with our partners to navigate the Group's new journey in longevity science and contribute to human health, thereby delivering long-term returns to shareholders."
About Zhong Ji Longevity Science Group Limited
Zhong Ji Longevity Science Group Limited (0767.HK) is principally engaged in longevity science, money lending, securities and other investments, financial and investment advisory, as well as property investment. Leveraging the management's expertise and technologies in the biotechnology industry, the Group seeks to enter domestic longevity science medical industry in recent years, with a view to achieving the vision of "helping people live longer and healthier lives" via its new longevity management scheme. Capitalising on its longevity science technology namely longevity biological products, cell and gene therapy, as well as advanced medical technology, the Group makes contributions to human health, thereby building a good reputation.
For more information, please visit: https://www.irasia.com/listco/hk/zhongjilongevity/
Topic: Press release summary
Source: Zhong Ji Longevity Science Group Limited
Sectors: Daily Finance
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From the Asia Corporate News Network
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