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Sky Gold reports robust results for Ǫ1FY25

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MUMBAI, India, Aug. 16, 2024 /PRNewswire/ — Sky Gold Limited (SGL) one of the leading jewellery companies based in Mumbai engaged in the business of designing, manufacturing and marketing of Gold jewelleries reported its unaudited financial results for the Ǫuarter Ended on 30th June, 2024.

Ǫ1FY25 Consolidated Financial Performance Snapshots (Y-o-Y)

Revenue from Operations grew by 92.4% y-o-y to Rs. 723.0 croresEBITDA grew by 100% to Rs. 37.3 croresProfit After Tax (PAT) grew by 98.9% to RS. 21.2 croresSales volumes for the quarter stood at 349 Kgs/ month and profit soars ~2x y-o-y

Key Financial Highlights:

Particulars (Rs. Crs.)

Ǫ1 FY25

Ǫ1 FY24

Y-o-Y

Ǫ4FY24

Ǫ-o-Ǫ

Revenue from Operations

723.0

375.7

92.4 %

513.4

40.8 %

EBITDA

37.3

18.6

100.0 %

25.3

47.2 %

EBITDA Margins

5.2 %

5.0 %

19 bps

4.9 %

22 bps

Profit After Tax

21.2

10.7

98.9 %

13.6

56.0 %

PAT Margin

2.9 %

2.8 %

10 bps

2.7 %

28 bps

Operational Highlights:

Consolidated Revenues from Operations for Ǫ1 FY25 stood at Rs. 723 Crs, registering a growth of 92.4% on a y-o-y basisEBITDA for the current quarter stood at Rs. 37.3 Crs, registering a growth of 100% on a y- o-y basisPAT for Ǫ1 FY25 stood at Rs. 21.2 Crs, registering a growth of 98.9% as compared to the same quarter for the previous year. Thus, registering 2nd straight quarter of 2x PAT growth on y-o-y basis.

Commenting on the Results, Mr. Mangesh Chauhan, Managing Director and Chief Financial Officer, said:

“Sky Gold Ltd has seen exceptional growth in the first quarter of FY25. Our Revenue from Operations surged by 92.4% year-on-year to Rs. 723 crores. EBITDA increased by 100% to Rs. 37.3 crores, and our Profit After Tax grew by 98.9% to Rs. 21.2 crores. This remarkable performance is attributed to our recent expansion to a larger facility in Navi Mumbai, which has significantly increased our production capacity.

In Ǫ1 FY25, our capacity utilization stood at 33% of the total capacity (including additional capacities from acquisitions). This highlights our capability to scale operations and strengthen our position in the gold jewellery market both in India and globally. The recent integration of Starmangalsutra and Sparkling Chains into Sky Gold is perfectly aligned with our growth strategy. These acquisitions are expected to boost our margins through the synergies they bring to the enterprise. By consolidating our operations, we’re broadening our total addressable market and expanding our product presence in numerous retail outlets.

Moving forward in FY25, we plan to increase capacity utilization at our new facility, invest in IT and automation, implement an ERP system, strengthen our mid-management and regional sales teams, and optimize our financials through the use of gold metal loans to improve profitability and reduce borrowing costs.

We are confident that these initiatives will help us achieve our goal of INR 6300 Crores in revenue by FY27, while aiming for a capacity utilization of 1050 Kgs from 750 kgs post our recent acquisition per month within the next three years.”

Sky Gold is also planning to raise funds to boost equity. The recent cut in import duty on gold in the Union Budget has sparked a surge in demand for gold jewellery, with more consumers now preferring organized markets over unorganized ones. These events are expected to further strengthen the company’s position in the industry.

Sky Gold Ltd is focused on enhancing its operational efficiency and expanding its market presence. Investments in IT and automation will facilitate scaling up operations and improving productivity. The implementation of an ERP system will streamline processes and enhance decision-making capabilities.

To support its growth ambitions, Sky Gold is also strengthening its mid-management team and regional sales force. It has decreased its collateral percentage to free up capital from 50 to 40%. The company is optimizing its financial structure by leveraging gold metal loans, which will lead to better profitability and reduced borrowing costs.

About Sky Gold Limited:

Established in 2008, Sky Gold Limited is one of the leading jewellery companies based in Mumbai. The Company specializes in lightweight jewellery of 18 & 22 Carat gold, manufacturing a variety of designs including plain gold jewellery, studded gold jewellery, diamond-studded jewellery, and Turkish jewellery. Operating on a B2B model, Sky Gold collaborates with leading jewellery retailers like Malabar Gold and Diamonds, Joyalukkas, Kalyan Jewellers, GRT Jewellers, and Senco Gold, making its products available in over 2000 showrooms across India.

SGL’s state-of-the-art 81,000 sq ft manufacturing facility in Navi Mumbai, equipped with German and Italian machinery, has a processing capacity of 750 kg of gold per month. The company boasts a design library of over 500,000 designs of rings, bracelets, bangles, fancy pendants, earrings, and more. Sky Gold got listed on the BSE SME platform in October 2018 and migrated to the Mainboard of BSE and NSE in January 2023.

View original content:https://www.prnewswire.com/in/news-releases/sky-gold-reports-robust-results-for-1fy25-302224175.html

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MaryRuth’s Celebrates TikTok Shop Super Brand Day With Exclusive Offers and Viral Favorites

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LOS ANGELES, Jan. 12, 2025 /PRNewswire/ — MaryRuth’s, the trusted leader in liquid vitamins and wellness products, is thrilled to announce its participation in TikTok Shop’s Super Brand Day from January 12 to 18, 2025. For this exclusive event, MaryRuth’s is celebrating with up to 40% off shopwide and exclusive multi-pack bundles of their top-selling products including viral favorites.

MaryRuth’s Liquid Morning Multivitamin + Hair Growth became a social media sensation in 2024, with over 369,000 bottles sold and 18,000 5-star reviews from customers who rave about its convenience, taste, and powerful benefits for health and hair growth. With these exclusive deals on TikTok Shop, MaryRuth’s aims to make its most-loved products even more accessible to its community to kick off healthy habits in 2025.

“We are so thrilled to be part of TikTok Shop’s Super Brand Day,” said MaryRuth Ghiyam, Founder and CEO of MaryRuth’s. “Our mission has always been to help people feel their best with high-quality, delicious, easy-to-use wellness products, and this event allows us to reach even more people with great deals on the products they love.”

Customers can take advantage of up to 40% off all products on MaryRuth’s TikTok Shop and shop specially curated bundles, including multi-packs of the Liquid Morning Multivitamin + Hair Growth. Designed to support overall health as well as hair thickness, hair growth, and skin health, this multivitamin has become a must-have for many health-conscious individuals.

MaryRuth’s will also showcase engaging TikTok content to celebrate this partnership, including product demonstrations, customer testimonials, and exclusive offers for TikTok users.

Mark your calendars for January 12-18, 2025, and join MaryRuth’s in celebrating TikTok Shop Super Brand Day. Don’t miss this opportunity to shop viral favorites and stock up to support your wellness for the new year and beyond!

About MaryRuth’s
MaryRuth was inspired to help empower others to take wellness into their own hands after seeing how health issues personally impacted her loved ones. As a health educator, nutritional consultant, culinary chef, and mom to 4 children, MaryRuth was driven to formulate a delicious, easy-to-take multivitamin with quality ingredients for her clients and family. This led to the creation of what is now America’s #1 best-selling liquid multivitamin. Through our growing product line, we aim to continue what was MaryRuth’s original mission: helping you to create small, healthy habits to move forward every day.

View original content to download multimedia:https://www.prnewswire.com/news-releases/maryruths-celebrates-tiktok-shop-super-brand-day-with-exclusive-offers-and-viral-favorites-302339675.html

SOURCE MaryRuth Organics

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Neusoft Education officially renamed as ” Neutech Group Limited “, accelerating the advancement of the “education-healthcare-wellness and mind tour” strategy in a new stage

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HONG KONG, Jan. 11, 2025 /PRNewswire/ — On 9 January, Neusoft Education (09616.HK) announced that the Company’s English name will change from “Neusoft Education Technology Co. Limited” to “Neutech Group Limited”. The name change will take effect on the same day.

According to the announcement, the Company’s renaming to “Neutech Group Limited” better reflects its strategic transformation and upgrade, and more accurately demonstrates its five-in-one industry layout of “education-healthcare-wellness and mind tour”. This will establish a new corporate brand image and highlight the Company’s comprehensive strength in technological innovation and integrated development. Starting with the name change, the Company will focus on education and adapt to the aging economy, promoting the parallel development of academic education, continuing education, senior education, and resource output. This will create a business model of “education-assisted healthcare, education-assisted wellness, medical-care conversion, medical-education assistance, care-supported medicine, and care-education assistance”. Driven by technology and platform research and development, the company will achieve integrated development of education, medicine, care, health, and tourism, as well as efficient use of human, financial, and material resources. This will build a harmonious and inclusive “education + technology + medical care + health + tourism” prosperous ecosystem. It is expected to further enhance the Company’s brand reputation and industry influence, and support its sustainable development.

Neutech Group, as a pioneer in the “education-healthcare-wellness and mind tour” ecosystem in China, successfully listed on the Main Board of the Hong Kong Stock Exchange on 29 September 2020, becoming the “first stock of IT higher education” (stock code: 9616.HK). With the broad market opportunities brought by the aging population and the positive support of policies for the development of the elderly care industry, the Company leverages its innovative research and development capabilities in “education + technology + medical care” to build a new ecosystem of integrated development of ” education-healthcare-wellness and mind tour”.

In the education technology business sector, the Company will retain the main body of ” Neusoft Education Group” and continue to operate academic education, continuing education, and resource output businesses. Based on IT innovation education, the Company will further develop the “digital media” and “medical care” fields, build an integrated ecosystem of “education-healthcare-wellness”, and consolidate the core competitiveness of education technology in the future. The Company will also establish a characteristic product and service system based on the 4S model, providing first-class platforms, resources, models, and management services to governments, universities, hospitals, and health care institutions, continuously empowering partners’ reform and development.

In the elderly education and elderly care technology business sector, following the concept of “Elderly care starts with prevention, education drives elderly care, and technology empowers elderly care”, the Company has deeply developed elderly education through Neuedu Phoenix Academy and created a unique “LIFECARES” model of integrated elderly education with “leisure, care, medical services, education, and integration”. Using top-notch medical and care services and platform services to empower the elderly to live a happy life, the Company is building a dream university for active seniors. In addition, the Company will strengthen the training of elderly care service personnel by creating a one-stop industry chain of “university training + training + intern + human resource services”. On the other hand, the Company will build a medical and care technology operation service model, create an elderly care solution industrial ecosystem through the output of overall smart elderly care solutions and elderly care technology products and services, and achieve mutually beneficial cooperation with ecological partners.

In the medical and health care service sector, the Company integrates customer management service systems to provide intelligent medical and elderly care information solutions, and create a “medical care and elderly care” integrated development system with treatment-based medical institutions, rehabilitation-based nursing institutions, and care-based elderly care institutions. Its subsidiaries, Ruikang Cardiovascular Hospital, Dalian Ruikang Zhuomei Stomatology Hospital Co., Ltd., and Wecare Family Nursing Home, have been put into operation.

In the wellness tourism sector, targeting energetic seniors, the Company integrates tourism, education, and elderly care into one, with a focus on “leisure learning, slow travel, and peaceful living”. Through the concept of “study-travel-care”, seniors can experience a variety of dimensions of “learning-travel-care” in their travel and learning process, creating a comprehensive elderly education model that provides opportunities for art experiences, promotes physical and mental relaxation, enhances cultural literacy, and expands social interaction.

In addition, the Company expands its industrial management and service sector, with the vision of building a better life and using technology to empower intelligent logistics. It explores diverse, characteristic, and value-added service models to meet the diverse needs of internal and external customers, continuously expanding its brand reputation and social influence.

With its keen market insight and deep accumulation of industry and education resources, Neutech Group Limited actively embraces the development of the silver-haired economy, timely enters new tracks, and improves its position in the industrial ecosystem. Now, the Group’s new layout of “education-healthcare-wellness and mind tour ” has been formed, which not only helps to create a new growth curve but also continuously expands new development margins, moving towards becoming a leader in the development of the “education-healthcare-wellness and mind tour” ecosystem.

CONTACT: Lin Wei, weilin@neuedu.com

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SOURCE Neutech Group Limited

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RoboSense and Coco Robotics Forge Strategic Partnership to Revolutionize Autonomous Last-Mile Delivery

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LAS VEGAS, Jan. 12, 2025 /PRNewswire/ — RoboSense (2498.HK), a global leader in AI-driven robotics technology, and Coco Robotics, an innovator in delivery robots, have announced a strategic partnership to transform last-mile logistics. By combining RoboSense’s advanced sensor technology with Coco Robotics’s delivery solutions, the collaboration aims to enhance safety, efficiency, and sustainability in urban networks.

Coco Robotics bridges the gap between local businesses and customers through advanced navigation and real-time tracking, prioritizing sustainability by reducing carbon emissions and delivery costs. Since its launch in 2020, the company has expanded operations to major U.S. and European cities, forming partnerships with food delivery leaders like Uber Eats and DoorDash to meet the growing demands of modern logistics and support a greener future.

This partnership addresses key challenges in autonomous last-mile delivery by integrating RoboSense’s perception solutions into Coco Robotics’s fleet to enhance navigation and obstacle detection. Together, the companies are accelerating the deployment of delivery robots to optimize efficiency and scale operations.

“We’re thrilled to collaborate with RoboSense to push the boundaries of what’s possible in last-mile delivery,” said Zach Rash, Co-founder and CEO of Coco Robotics. “This partnership strengthens our ability to provide safe, reliable, and sustainable delivery solutions at scale, helping us better serve businesses and communities.”

Mark Qiu, CEO of RoboSense, said, “The successful collaboration with Coco Robotics is one of the key milestones in RoboSense’s global strategy. By combining our visual sensor technology with Coco Robotics’ innovative robotics solutions, we aim to redefine what’s possible in autonomous last-mile delivery. RoboSense will continue to innovate, providing superior incremental components and solutions to our global robotics customers. Partnering with Coco Robotics, we will create safer, smarter robotic delivery services and expand into global markets.”  

About RoboSense

RoboSense (2498.HK), founded in 2014, is an AI-driven robotics technology company that supplies industry-leading incremental components and solutions for the robotics market. The company is committed to “Become the global leader in robotics technology platforms”, and its mission is “Safer world, Smarter life”. For more information about RoboSense, visit https://www.robosense.ai 

About Coco Robotics

Coco Robotics is the world’s largest urban robot delivery platform. Founded in 2020, Coco has completed over 500,000 zero-emission deliveries, serving customers in the US and Europe. Coco’s mission is to create a more sustainable, reliable, and affordable last-mile logistics solution in cities around the world. For more information about Coco, visit cocodelivery.com  

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SOURCE RoboSense Technology Co., Ltd.

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