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Further Accelerated Strategic Transformation
Setting Sights on Building the World's Leading
Ecosystem Platform in Longevity Science |
HONG KONG, Aug 31, 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 unaudited interim results for the six months ended 30 June 2021 ("Period under Review").
During the Period under Review, the Group has been expediting the development of its longevity science business. In addition to operating and managing it existing businesses of money lending, securities and other investment, financial and investment advisory and property investment, the Group accelerated its business transformation by deploying more resources in its operations through five key divisions, namely, longevity science research, longevity medical testing, longevity biological products, longevity management services and member division. The Group has strived to map out its blueprint in the field of longevity science through a number of mergers and acquisitions as well as establishment of strategic cooperations, and managed to achieve breakthroughs.
The Group was principally engaged in the business of money lending, securities and other investments and financial and investment advisory during the Period under Review. Given the unstable market environment and sentiment, and to mitigate the volatility risk, the management of the Group took a rather prudent approach in operating these businesses which has directly caused the slowdown in the business performance. In addition, the Group's grant of share options to relevant consultants further deteriorated the performance of the Group on the overall basis. Nevertheless, the newly ventured longevity science business recorded a pretty impressive set of results for the Group in the first half of 2021. During the Period under Review, the Group recorded a total revenue of HK$16,112,000 (2020: HK$20,956,000), with loss for the period amounted to HK$20,851,000 (2020: profit for the period of HK$16,039,000). The additional share options grant amounting to HK$13.1 million contributed to the overall loss of HK$20.9 million in the Period under Review. Nevertheless, the contribution of longevity science business served as a cushion to alleviate the overall losses incurred. The basic loss per share and diluted loss per share were HK$0.54 cents (2020: basic and diluted earnings per share were HK$0.41 cents and HK$0.11 cents respectively).
Mr. YAN Li, Chairman of the Board and Executive Director of Zhong Ji Longevity Science, said, "Since the change of company name, the Group has been focusing on expanding its longevity science business. During the Period under Review, we have spearheaded strategic transformation venturing into the field of longevity science in an exhaustive and diversified manner to continuously improve its industry and product chains riding on our existing finance-related businesses. Through our innovative longevity healthcare solutions, we are committed to realising our vision of 'helping people live longer and healthier lives', thereby building a world's leading ecosystem platform in longevity science."
Business Review
During the Period under Review, the Group advanced its transformation of longevity science business from all fronts. The revenue of the segment amounted to approximately HK$7,171,000, of which, approximately HK$3,136,000 was generated from diagnostic consultation and medical testing, and approximately HK$4,035,000 was contributed by the sales of longevity biological products, with segmental profit of approximately HK$2,839,000.
Strengthening in-house R&D and production capabilities
During the Period under Review, the Group focused on strengthening its hard and soft capabilities. The Group recruited a seasoned team of biotechnology and management talents, including Nobel laureates in Physiology or Medicine, which has immensely enhanced the Group's research and development ("R&D") capability, enabling the Group to achieve its strategic goals. In addition, the Group resolved in May to adopt a share award scheme, which aims to recognise employees and individuals who have contributed to the Group's development and business growth as well as to attract talents in the industry. Perpetual Master Limited ("Perpetual Master"), a wholly-owned subsidiary of the Group, has leased a 36,000-square-foot production plant in California, the United States, ensuring stable support to the production and technology of the Group's flagship products. Given its high start-up cost compounded with the effect of COVID-19 in California, the management of the Group has decided to subcontract the operation to an independent third party to manufacture the longevity biological products on the Group's behalf. The decision made was in line with the Group's goal of operational efficiency and effectiveness.
Proactively identifying suitable acquisition opportunities to perfect industry chain
In order to enhance and enrich existing business during the Period under Review, the Group has been proactively identifying suitable acquisition targets. Blooming Faith Development Limited, a wholly-owned subsidiary of the Group, acquired two examination centres, namely Irving Weissman International Advanced Medical Testing Centre and Asian Advanced Medical Testing Centre. The two testing centres commenced their operations in May this year in Shenzhen. In terms of longevity science R&D and longevity management services, Perpetual Master entered into a memorandum of understanding ("MOU") with China International Osteoarticular Medical Group earlier this year to acquire one of the world's largest FDA-registered international auto-immune cell banks, Asian Integrated Cell Laboratory Limited. In August this year, the Group acquired the entire equity interest of Banderland Development Investment Holdings Limited ("Banderland Development") at a consideration of RMB154 million. Banderland Development indirectly holds 55% equity interest in Hangzhou Chenghui, which in turns directly holds the entire interest of Hangzhou Chengnan Hospital. The Group will collaborate with Hangzhou Chengnan Hospital to establish Zhejiang Zhongji Longevity Medical Testing Centre and Zhejiang Zhongji Longevity Cloud Centre.
Striving to expand and enhance longevity biological products
During the Period under Review, the Group has commenced the development and production of its flagship NMN product "ZJ1" and VC sustained-release tablets, as well as other longevity biological products. The Group's products are currently sold worldwide and well received by high-net-worth individuals. During the Period under Review, the Group's scientific research team boosted the R&D progress of "ZJ1" to the seventh generation. In terms of marketing and sales strategy, the Group will capitalise the existing customer base, marketing network and sales channels of ZJ1 International Medical Group (Hong Kong) to gradually set up the "Internet + Healthcare" longevity system platform - Zhong Ji Longevity Cloud.
Establishing partnerships with world-class companies
The Group entered into a MOU in relation to forming a strategic partnership with Thermo Fisher Scientific (Hong Kong) Limited, a forerunner in the field of life sciences. Thermo Fisher will priorities the Group in the provision of its latest life sciences technology, software and solution. The Group has also entered into an investment cooperation framework agreement with Hubei Mailyard Share Co., Ltd. (Stock Code: 600107.SH). A joint venture, Mailyard Health Group (Hubei) Company Limited, was incorporated in April to focus on the development of advanced medical services such as cancer prevention and early screening, longevity medical testing and cell management, as well as the distribution of longevity biological products, provision of longevity management services and longevity solutions.
Prospect
It is expected that longevity science industry will embrace bright prospects, leading the development of Zhong Ji Longevity Science to bear fruits in future. The Group will continue to establish longevity medical testing centres in 18 first and second-tier cities of China through mergers and acquisitions and strategic cooperation in the coming three years, aiming at providing customers with world's leading services of cancer prevention and early screening, longevity medical testing and longevity management. It is expected that the Group's early screening services will reduce the incidence and mortality rates of cancer by benefiting more people at high risk of cancer and other critical illnesses. In terms of longevity biological products, the Group will fully leverage its expertise in the cellular field and continuously enhance its R&D and production level to introduce higher quality and more effective longevity biological products, with a focus on catering public's desire for longevity and ultimately further increase the Group's market share of global healthcare products. In terms of R&D in longevity science and longevity management services, the Group will focus on the development and related applications of cell and gene therapy, and the provision of cell testing, cell banking and storage, optimisation as well as cell therapy services. The Group plans to provide longevity healthcare solutions for its members. The Group will also continuously enhance the coordination and operation of its longevity system platform "Zhong Ji Longevity Cloud" and gradually improve its "Internet + Healthcare" longevity system platform.
Mr. YAN Li concluded, "As a pioneer in the field of longevity science, Zhong Ji Longevity Science will invest more resources to build its technology platform in the field of longevity science, striving for enlarging its scope and deepening its foothold, so as to continuously enhance the industry and product chains, as well as to further enhance its brand awareness. The management is confident about the Group's business performance in the second half of the year, and believes that its longevity science business will gradually support the Group's revenue growth and become a growth driver in the future, thereby creating long-term returns for its 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. As the world's leading ecosystem platform in the field of longevity science, the Group is dedicated to making contribution to human health and longevity. With operations of five major divisions, the Group's longevity scientific research division involves research and development through NK, CBNK and CAR-NK technology platforms, CAR-T technology platform, MSC technology platform as well as longevity biological product technology platform; its longevity medical detection division provides data related to human health and longevity assessment; its longevity biological products division includes production and sales of longevity biological products such as NMN and Vitamin C time-release tablets; its longevity management division offers scientific solutions in terms of human health and longevity, while its member division provides construction and operations of the World Longevity Science and Healthcare Association and Longevity Cloud.
For more information, please visit: https://www.irasia.com/listco/hk/zhongjilongevity/
Topic: Press release summary
Source: Zhong Ji Longevity Science Group Limited
Sectors: BioTech, Healthcare & Pharm
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From the Asia Corporate News Network
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