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First joint research project between Sanofi and the BioMed X Institute, co-creation of a next-generation virtual patient engine for clinical translation of drug candidates HEIDELBERG, Germany, Oct. 24, 2022 (GLOBE NEWSWIRE) -- BioMed X announced today the launch of their first joint research project with Sanofi. As part of this, a new research group to be established at the BioMed X Institute in Heidelberg, Germany, will focus on the development of a versatile computational platform able to accurately predict the efficacy of first-in-class drug candidates in virtual patient populations. The research collaboration will address one of the most important bottlenecks of the pharmaceutical industry today: a 90% failure rate of new drug candidates during clinical development. It is the aim to transform the practice of medicine with the use of digital data and artificial intelligence, and thus, this project will benefit from Sanofi's deep datasets and expertise. As a proof-of-concept, the initial model will focus on chronic immune-mediated diseases such as atopic dermatitis (AD) and inflammatory bowel disease (IBD). "In the past two years, we have gained significant experience in the field of artificial intelligence through our strategic partnership with AION Labs in Israel. Our new collaboration with Sanofi allows us to further extend our data science and AI expertise in Heidelberg, where we have developed an ideal incubation environment for biomedical innovation at the interface between academia and industry," explains Christian Tidona, Founder and Managing Director of the BioMed X Institute. "Identifying quality clinical candidates for treatment of patients with unmet need is among the most rewarding parts of the research and development process," said Frank Nestle, Global Head of Research and Chief Scientific Officer at Sanofi. "This groundbreaking research collaboration will allow us to partner with scientists with unique computational skills and diverse capabilities that will help us to achieve our goals of bringing vital treatments to patients with chronic inflammatory diseases. This collaboration will be instrumental for advancing with our core mission of transforming drug discovery and development through application of AI-based modeling and simulation." A diverse team of talented early-career scientists tackling this challenge will be jointly selected by the two companies through the successful and unique recruiting model designed by BioMed X, which entails a global call for application followed by a five-day innovation boot camp. The winning team will be hosted for up to five years by the BioMed X Institute, which is embedded in the life sciences campus of the University of Heidelberg, less than an hour away from Sanofi's Research & Development site in Frankfurt. The new team will join the 11 research groups at the BioMed X Institute already working with complex human ex-vivo models and data science in oncology, immunology, and neuroscience. Interested candidates who want to drive this research team are invited to respond to this international call for applications and submit a project proposal via the BioMed X Career Space at https://bio.mx/career before Jan. 8, 2023. About BioMed X BioMed X is an independent research institute located on the campus of the University of Heidelberg in Germany, with a world-wide network of partner locations. Together with our partners, we identify big biomedical research challenges and provide creative solutions by combining global crowdsourcing with local incubation of the world's brightest early-career research talents. Each of the highly diverse research teams at BioMed X has access to state-of-the-art research infrastructure and is continuously guided by experienced mentors from academia and industry. At BioMed X, we combine the best of two worlds - academia and industry - and enable breakthrough innovation by making biomedical research more efficient, more agile, and more fun. Contact Information: Flavia-Bianca Cristian Recruiting & Communications Manager fbc@bio.mx +49 6221 426 11 706 Related Images Image 1: BioMed X Logo Image 2: Virtual Patient This content was issued through the press release distribution service at Newswire.com.
The Asian Hardware Online Exhibition 2022 (AsianHardware 2022), jointly organized by AsianNet and TradeAsia will exhibit from October 19, 2022, to February 28, 2023, aiming at global buyers of the Hardware industry. The online showtime will be in line with the schedule of the Taiwan Hardware Show 2022 organized by Kaigo Company, the National Hardware Show 2023 in the U.S., and Vietnam Hardware & Hand Tools 2022 to facilitate international buyers to visit and compare products at one time. Amex Hardware Co., Ltd. participated in this exhibition and exhibited products and applications such as Door Locks & Accessories, Door Closer & Patch Fittings, Door & Window Hardware, Cylindrical Door Lock, High-Security Padlock & Lock Cylinders, Dead Bolt & Mortise Locks, Cabinet Fittings & Cam Lock, Glass Door Fitting, Combination Safe Box Lock, Key Machine, Building Hardware, S/S Sheet & Coil, Tin Plate, etc. In addition, we cooperated with AsiaTrade to participate in the physical booth of the Taiwan Hardware Show at the Kaohsiung Exhibition Center and display the product catalog to achieve the effect of virtual and physical integration. Please visit our brand pavilion and contact us if you have any needs. Amex Hardwar brand pavilion: https://www.etradeasia.com/supplier-363523/Amex-Hardware-Co-Ltd.html AsianHardware Online Exhibition: https://www.etradeasia.com/online-show/13/Asian-Hardware-Online-Exhibition-2022.html Show Booth: Taiwan Hardware Show/ Booth S5033 Amex Hardware Co., Ltd. was founded in 1979, specializing in the manufacture/export of various door and window locks and accessories, architectural hardware, shower accessories, etc., providing customers with a full range of security products and services. At the beginning of its establishment, it was marketed abroad under our brand "AMEX.” Forty years of production and export experience have allowed us to establish a long-term stable relationship and excellent reputation with customers and suppliers. Cooperation countries cover more than 80 countries around the world. Our primary manufacturing plants are located in China/Taiwan, so that we can offer the most competitive prices. Quality assurance is also the most concerned issue of Deyi Metal Company. All our products have undergone strict quality control and testing to win the affirmation and trust of customers. News Contact: Winnie Huang Export Manager 886-2-23677792
Logitech雙11必殺優惠重磅登場,打造最強職場特務5折起! 旗艦鼠王MX Master 3S首見驚喜優惠現折1,000元 熱門商品1,111元超狂限時搶,再抽iPhone 14 Pro Max ,升級裝備趁現在! 圖說01 :Logitech雙11最強職場特務,狂撒百萬裝備金,必殺5折起。 【台北訊】成為最強職場特務就趁這一波!萬眾矚目Logitech雙11超殺優惠強勢來襲,全力祭出全品類超狂優惠。2022人氣新品旗艦鼠王MX Master 3S無線智能滑鼠首度釋出優惠;LIFT人體工學垂直滑鼠、MX Keys無線智能鍵盤、POP KEYS無線機械式鍵盤、G913無線鍵盤、G733無線耳機、SUPERLIGHT無線滑鼠等商務與電競品項,以及創作者的最愛Blue 麥克風也祭出超值優惠。即日起優惠券搶先拿,狂撒百萬裝備金,最低5折起;10月31日起超人氣品1,111元限時搶。即日起至11月13日買指定品項,登錄發票就送Belkin Play真無線藍牙耳機或限定版模型車,再抽iPhone 14 Pro Max,波波強檔換行頭,讓你稱霸職場! Logitech 雙十一必敗攻略1: 人氣新品旗艦鼠王MX Master 3S首度優惠,眾多主打品心動價開搶 Logitech雙11強打出擊,10月31日至11月2日以及11月7日至13日,MX Master 3S無線智能滑鼠首度祭出超殺優惠:原價4,290元,限時優惠價只要3,290元,現省1,000元!即日起至11月13日,眾多人氣品項優惠一字排開:MX Keys無線智能鍵盤只要2,990元(原價3,990元)、MX Keys Mini無線智能鍵盤只要2,890元(原價3,990元)、LIFT人體工學垂直滑鼠(原價2,490元)與POP KEYS無線機械式鍵盤(原價2,690元)更只要1,990元即可入手! 圖說02:Logitech雙11強打出擊,不只旗艦鼠王MX Master 3S無線智能滑鼠首度釋出優惠,MX Keys無線智能鍵盤、LIFT人體工學垂直滑鼠、POP KEYS無線機械式鍵盤等人氣品項同享超殺折扣。 圖說03 :LIFT人體工學垂直滑鼠、MX Master 3S無線智能滑鼠、MX Keys Mini無線智能鍵盤、POP潮玩無線鍵鼠等人氣品項獲眾多名人一致推薦。(圖左至右:家醫科醫師陳心湄、導演殷振豪、藝人安心亞) 眾多實況主齊推薦的Logitech G也為玩家量身打造多項專屬優惠:G913無線機械式電競鍵盤只要4,690元、G913 TKL無線機械式電競鍵盤只要4,190元、G733無線RGB炫光電競耳機麥克風只要3,390元、SUPERLIGHT無線遊戲滑鼠黑白雙色於11月3日前享3,990元優惠價,11月3日至13日再殺到3,390元!即日起鎖定Logitech G雙11指名網紅直播或影片,更有機會獲得Logitech G官方旗艦館專屬滿額折等超值優惠,數量有限,要搶要快! 圖說04:Logitech G 釋出G913 TKL無線機械式電競鍵盤、G733無線RGB炫光電競耳機麥克風、SUPERLIGHT無線遊戲滑鼠等多項優惠。 圖說05:即日起鎖定Logitech G雙11指名網紅直播或影片,更有機會獲得專屬折扣,數量有限,要搶要快!(圖左至右:知名實況主趙兔兔、泥泥汝、ZOE) 創作者最愛的Blue麥克風,獲電競戰隊MAD TEAM專業推薦,不只釋出超值優惠,還有專屬贈品!Yeti專業USB麥克風只要3,990元再送專屬防噴罩(價值899元)、Yeti X專業USB麥克風只要5,690元再送質感收納包(價值1,990元)、Yeticaster麥克風套裝組則享6,990元優惠價再送專屬防噴罩、Snowball iCE小雪球專業USB麥克風只要1,390元再送防風棉(價值799元)、Snowball雪球專業USB麥克風只要2,190元同送防風棉。 圖說06:知名電競戰隊MAD TEAM直播時常使用的Blue麥克風,全系列也於雙11也祭出優惠。 Logitech 雙十一必敗攻略2: 指定電商通路限時享獨家折扣,Aurora美型炫光系列首次釋出優惠 熱愛白色系的玩家看過來!11月7日起至13日,Logitech G Aurora美型炫光系列於momo購物網首次釋出獨家優惠:G735無線美型RGB遊戲耳機麥克風只要5,990元、G715美型炫光無線機械式鍵盤只要5,490元、G713美型炫光機械式鍵盤只要4,490元、G705美型炫光多工遊戲滑鼠只要2,790元,想將個人空間布置成滿滿夢幻白就趁現在!除此之外,MX Anywhere 3無線行動滑鼠(原價2,990元)於momo購物網指定日期購買只要1,990元優惠價。G435輕量雙模無線藍牙耳機原價2,290元,也將於PChome購物網現折1,000元,享獨家價1,990元,領券再折200元! 圖說07 :11月7日起至13日,Logitech G Aurora美型炫光系列於momo購物網首次釋出獨家優惠。(圖左:知名實況主哈耿、圖右:知名實況主小九九) Logitech 雙十一必敗攻略3: 1111限時開搶只要1,111元,必殺5折起,連續六天搶起來 萬眾期待1111人氣商品只要「1,111元」!活動於10月31日起連續六天,不同人氣品項每晚8點超限量開搶,包括MX Master 3無線智能滑鼠、C922 Pro Stream 1080p 網路攝影機、POP無線潮玩鍵鼠禮盒、Logitech G PRO WIRELESS 無線滑鼠英雄聯盟聯名款、G813 LIGHTSYNC RGB 機械式遊戲鍵盤、G535電競無線耳機麥克風,天天接力登場,天天熱血High翻天。除此之外,雙11 活動期間購買商務全系列商品,滿 2,490元再折 211元;11月3日起購買電競品項滿3,990元現折311元。好康一波接一波,怎麼買都超划算! Logitech 雙十一必敗攻略4: 登錄發票二重獎,買指定品項登錄送限量好禮,滿額再抽iPhone 14 Pro Max 歡慶Logi Store高雄漢神巨蛋B1快閃店盛大開幕,即日起至11月13日購買指定品項,登錄發票就送價值1,690元Belkin Play真無線藍牙耳機(不挑色),包括MX Master 3S無線智能滑鼠、MX Vertical人體工學垂直滑鼠、MX Keys無線智能鍵盤、MX Mechanical無線智能機械鍵盤、Combo Touch鍵盤保護殼等商務品項;SUPERLIGHT無線滑鼠、G502X Plus無線滑鼠、G913無線鍵盤、G715無線鍵盤、Pro X耳機麥克風等電競品項;Brio 4K網路攝影機、Streamcam直播攝影機、Yeti USB麥克風、Yeti X USB麥克風等。購買Logitech G指定賽車方向盤則送兩款價值990元Logitech G限定版模型車(隨機不挑款)。 不僅如此,凡購買990元以上全品類商品,登錄發票再抽iPhone 14 Pro Max 256G、Logitech G美型炫光系列組合(含G705無線滑鼠、G715無線鍵盤、G735無線耳機、Yeti USB麥克風)、Logitech商務質感繽紛組合(含POP KEYS無線機械式鍵盤 – 星暮紫、POP MOUSE無線藍牙滑鼠 – 星暮紫、Zone Vibe 100無線藍牙耳機麥克風 – 玫瑰粉)等多項好禮。 圖說08 :即日起至11月13日,購買Logitech指定品項,登錄發票就送限量好禮,消費買990元再抽iPhone 14 Pro Max等多項大獎。 Logitech 雙十一必敗攻略5: 啦啦隊女孩林襄降臨Logitech雙11 PChome直播活動,鎖定直播更享超值優惠 啦啦隊女孩林襄來了!11月10日晚上8點到10點,Logitech與PChome網路家庭聯手出擊,特別邀請林襄於PChome 官方社群平台及林襄官方Facebook粉絲專頁同步直播,現場體驗Logitech MX高階商務鍵鼠帶來的極致手感與G435雙模超輕量無線電競耳機提供的聽覺饗宴,以及開箱即將開放預購的Logitech G X《英雄聯盟》「星光戰士」聯名系列!參與直播即有機會抽中林襄親簽2023寫真曆以及SUPERLIGHT無線遊戲滑鼠、POP KEYS無線機械式鍵盤、KEYS-TO-GO輕巧藍牙鍵盤、K/DA公仔等限量萬元大獎;晚上9點起,下單再享特殊加碼優惠!眾多優惠好康千萬不要錯過,升級終極配備,就趁雙11這一波! 相關優惠詳情請參考以下連結: ● Logitech 「雙11最強職場特務」活動官網:https://store.logitech.tw/pages/d11-ccp ● Logitech官方旗艦店:https://store.logitech.tw/collections/logitech-%E7%BE%85%E6%8A%80 ● Logitech G官方旗艦店: https://store.logitech.tw/collections/logitech-g-%E7%BE%85%E6%8A%80%E9%9B%BB%E7%AB%B6 ● Blue 麥克風官方旗艦店:https://reurl.cc/V1KNKA ● Logitech PChome官方旗艦館:https://logitech.pchomeec.tw/sites/logitech ● Logitech momo官方旗艦館:https://www.momoshop.com.tw/category/LgrpCategory.jsp?l_code=2120800000&sourcePageType=4 ● Blue麥克風PChome 官方旗艦館:https://reurl.cc/6Ej6vb ● Blue麥克風momo 官方旗艦館:https://reurl.cc/jGL6A2 # # # 關於Logitech Logitech羅技以全球領導品牌之姿,跨足開創電腦多元操作與娛樂溝通平台產品,引領民眾體驗豐富數位生活。Logitech並結合硬體設備與軟體資源,強化個人進行數位瀏覽、影音娛樂、遊戲生活、社交網絡、網路影音溝通、影像監看及家庭娛樂操控。Logitech創立於1981年,為一家瑞士控股公司,以LOGN在瑞士證券交易所(SWX Swiss Exchange)及LOGI在美國那斯達克全國市場系統(Nasdaq National Market System)公開上市。Logitech集團旗下7大品牌包括: Logitech,Logitech G,ASTRO Gaming,Streamlabs,Ultimate Ears,Jaybird及Blue Microphones。
October 24, 2022 Highlights Group sales amounted to EUR 4.3 billion, with a 5% comparable sales decline, in line with the update provided on October 12, 2022 Comparable order intake decreased 6% on the back of 47% growth in Q3 2021 Income from operations amounted to a loss of EUR 1.5 billion, mainly due to the previously disclosed EUR 1.5 billion non-cash goodwill and R&D impairment, compared to an income of EUR 358 million in Q3 2021 Adjusted EBITA of EUR 209 million, or 4.8% of sales, compared to EUR 512 million, or 12.3% of sales, in Q3 2021 Immediate restructuring actions initiated, with approximately EUR 300 million charges expected in the coming quarters Operating cash flow was an outflow of EUR 180 million, compared to an inflow of EUR 256 million in Q3 2021 Roy Jakobs appointed as President and CEO of Royal Philips per October 15, 2022 Roy Jakobs, CEO of Royal Philips: “I am honored to have been given the responsibility to lead Philips, a great company with a strong brand, leading product portfolio, strong customer base and talented employees. However, we face multiple challenges and our Q3 2022 performance reflects this. Although Philips’ strategy and solutions resonate with our stakeholders, we have not lived up to their expectations in recent years. My immediate priority is therefore to improve execution so that we can start rebuilding the trust of patients, consumers and customers, as well as shareholders and our other stakeholders. We will do this by first further strengthening our patient safety and quality management and addressing the various facets of the Philips Respironics recall; second, by urgently improving our supply chain operations so that we can deliver on our strong order book and improve performance; and third, by simplifying our way of working to improve productivity and increase agility. This includes the difficult, but necessary decision to immediately reduce our workforce by around 4,000 roles globally, which we do not take lightly and will implement with respect towards impacted colleagues. These initial actions are needed to start turning the company around in order to realize Philips’ profitable growth potential and create value for all our stakeholders. While there is a lot to do in a fast-changing environment, our priorities are clear, and I am fully focused, together with our leadership team, on improving execution. I am committed to open and transparent communications with our stakeholders. We will elaborate further on our plans for Philips at our fourth quarter and annual results publication in January 2023.” Group and business segment performance Philips’ performance in the quarter was impacted by operational and supply challenges, inflationary pressures, the COVID situation in China and the Russia-Ukraine war, resulting in Group sales of EUR 4.3 billion, reflecting a 5% comparable sales decline, and an Adjusted EBITA of EUR 209 million, or 4.8% of sales. Operating cash flow was an outflow of EUR 180 million, mainly due to lower cash earnings, increased inventories and higher consumption of provisions. Comparable order intake declined 6% on the back of strong 47% growth in Q3 2021. The book-to-bill ratio was 1.18, and the equipment order book grew further in the quarter. The Diagnosis & Treatment businesses’ comparable sales decreased 2% on the back of 10% growth in Q3 2021. Comparable order intake increased 3% on the back of 15% growth in Q3 2021. The Adjusted EBITA margin was 9.1%, mainly due to the decline in sales and cost inflation. The Connected Care businesses’ comparable sales decreased 15%, mainly due to operational and supply challenges. Comparable order intake showed a 24% decrease, on the back of over 260% comparable order intake growth in Q3 2021. The Adjusted EBITA margin amounted to -9.5%, mainly due to the decline in sales and cost inflation. The Personal Health businesses’ comparable sales increased by 4%, with good growth in North America and Western Europe. The Adjusted EBITA margin amounted to 14.1%. Highlights of Philips’ ongoing focus on innovation and customer partnerships in the quarter: Demonstrating the trust hospital leaders have in Philips’ ability to help them enhance health outcomes, lower the cost of care and improve patient and staff experience, the company signed multiple new long-term strategic partnerships across the world. This included a 10-year agreement with a large university hospital in Japan for the expansion of its eICU program for centralized, remote surveillance of high-risk ICU patients. Philips signed several agreements in China, including with private hospitals Suzhou Kowloon Hospital and Wuhan Asia Heart Hospital to provide advanced diagnostic imaging and image-guided therapy systems to advance patient care. Philips expanded its leading ultrasound portfolio with the FDA market clearance for its new Ultrasound 5000 Compact system to deliver cart-based premium image quality in compact form for point-of-care, cardiology, general imaging, and obstetrics and gynecology applications. Philips continues to successfully expand into ambulatory care. Newly published research validated that Philips Mobile Cardiac Outpatient Telemetry (MCOT) is crucial in detecting arrhythmias and providing data that allows care teams to intervene quickly and decisively to provide the optimal patient treatment. Building on its successful OneBlade platform, Philips introduced in Europe the new OneBlade 360, which leverages a new blade that adjusts to the curves of the face to enhance shaving comfort. Philips Respironics field action for specific sleep therapy and ventilator devices Philips Respironics continued to make progress with the repair and replacement program and the comprehensive test and research program for the CPAP, BiPAP and mechanical ventilator devices affected by the June 2021 field safety notice. To date, approximately 4 million replacement devices and repair kits have been produced. Philips Respironics aims to complete around 90% of the production and shipments to customers in 2022. As previously communicated, following the FDA’s inspection of certain of Philips Respironics’ facilities in the US in 2021 and the subsequent inspectional observations, the US Department of Justice, acting on behalf of the FDA, began discussions with Philips in July 2022 regarding the terms of a proposed consent decree to resolve the identified issues. Due to revisions to the financial forecast of Philips Respironics driven by current assumptions regarding the estimated impact of the proposed consent decree and changes to the pre-tax discount rate, Philips is recording a EUR 1.3 billion non-cash charge in the third quarter for the impairment of goodwill of this business. As disclosed, Philips Respironics is subject to an investigation by the US Department of Justice, is a defendant in several class-action lawsuits and individual personal injury claims, and is in ongoing discussions with the FDA regarding the proposed consent decree. Given the uncertain nature and timing of the relevant events, and of their potential financial and operational impact and associated obligations, if any, the company has not made any provisions in the accounts for these matters. Productivity initiatives and other actions to improve performance Philips has initiated general productivity actions, including simplifying the organization to streamline the way of working and reduce operating expenses. This includes an immediate reduction of around 4,000 positions globally across the organization, subject to consultation with the relevant workers councils and social partners, with severance and termination-related costs expected to be approximately EUR 300 million in the coming quarters. The associated cost savings are expected to amount to annualized savings of approximately EUR 300 million. Philips will continue to review areas to further improve its supply operations, invest in quality, simplify the way of working and remove organizational complexity, which is expected to result in additional restructuring and associated costs in 2023. Additionally, Philips is urgently implementing several actions to enhance performance and productivity in the supply chain (e.g. dual sourcing, supplier consolidation, warehouse footprint rationalization), R&D (e.g. shifting the focus to fewer, high-impact projects in the innovation pipeline) and quality (e.g. enhancing processes, increasing capabilities and product management). In connection with the previously announced initiative to enhance productivity in R&D, Philips recorded a non-cash charge in the third quarter of EUR 168 million. Outlook Looking ahead, the company sees prolonged operational and supply challenges, a worsening macro-economic environment and continued uncertainty related to COVID-19 measures in China, which will be partly offset by Philips’ productivity and pricing actions. Consequently, Philips now expects a mid-single-digit comparable sales decline for the fourth quarter of 2022, with a high-single-to-double-digit Adjusted EBITA margin range. Capital allocation In light of recent developments and market volatility, Philips is taking the following measures – in addition to its measures to manage cash – to further strengthen its liquidity position: Securing a EUR 1 billion credit facility. Executing the settlement of the forward contracts – entered into as part of the share repurchase program announced on July 26, 2021 – at the original settlement dates in 2023 and 2024, instead of in 2022 as earlier announced. Click here to view the release online For further information, please contact: Ben Zwirs Philips Global Press Office Tel.: +31 6 1521 3446 E-mail: ben.zwirs@philips.com Derya Guzel Philips Investor Relations Tel.: +31 20 59 77055 E-mail: derya.guzel@philips.com About Royal Philips Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 79,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter. Forward-looking statements and other important information Forward-looking statements This document and the related oral presentation, including responses to questions following the presentation, contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future Adjusted EBITA*), future restructuring and acquisition- related charges and other costs, future developments in Philips’ organic business and the completion of acquisitions and divestments. Forward-looking statements can be identified generally as those containing words such as “anticipates”, “assumes”, “believes”, “estimates”, “expects”, “should”, “will”, “will likely result”, “forecast”, “outlook”, “projects”, “may” or similar expressions. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements. These factors include but are not limited to: Philips’ ability to gain leadership in health informatics in response to developments in the health technology industry; Philips’ ability to transform its business model to health technology solutions and services; macroeconomic and geopolitical changes; integration of acquisitions and their delivery on business plans and value creation expectations; securing and maintaining Philips’ intellectual property rights, and unauthorized use of third-party intellectual property rights; Philips’ ability to meet expectations with respect to ESG-related matters; failure of products and services to meet quality or security standards, adversely affecting patient safety and customer operations; breaches of cybersecurity; Philips’ ability to execute and deliver on programs on business transformation and IT system changes and continuity; the effectiveness of our supply chain; attracting and retaining personnel; COVID and other pandemics; challenges to drive operational excellence and speed in bringing innovations to market; compliance with regulations and standards including quality, product safety and (cyber) security; compliance with business conduct rules and regulations; treasury and financing risks; tax risks; reliability of internal controls, financial reporting and management process. For a discussion of factors that could cause future results to differ from such forward-looking statements, see also the Risk management chapter included in the Annual Report 2021. Reference is also made to Risk management in the Philips semi-annual report 2022. Philips has recognized a provision related to the voluntary recall notification in the US/field safety notice outside the US for certain sleep and respiratory care products, based on Philips’ best estimate for the expected field actions. Future developments are subject to significant uncertainties, which require management to make estimates and assumptions about items such as quantities and the portion to be replaced or repaired. Actual outcomes in future periods may differ from these estimates and affect the company's results of operations, financial position and cash flows. During the quarter, an indicator of impairment was identified for the Sleep & Respiratory Care cash-generating unit (CGU) as a consequence of revisions to the expected future cash flows of the CGU. The goodwill impairment charge recognized this quarter is due to revisions to the financial forecast of our Sleep & Respiratory Care business within the Connected Care segment. The impairment charge was calculated by comparing the carrying amount of the Sleep & Respiratory Care CGU with its recoverable amount, the basis of which is value in use. The forecast used to calculate the value in use required management to make significant estimates and assumptions about future cash flows. Actual outcomes in future periods may differ from these estimates. After this impairment charge, the estimated recoverable amount for Sleep & Respiratory Care is equal to its carrying value and consequently any adverse change in key assumptions would individually cause a material impairment loss to be recognized. Third-party market share data Statements regarding market share, contained in this document, including those regarding Philips’ competitive position, are based on outside sources such as specialized research institutes, industry and dealer panels in combination with management estimates. Where information is not yet available to Philips, market share statements may also be based on estimates and projections prepared by management and/or based on outside sources of information. Management’s estimates of rankings are based on order intake or sales, depending on the business. Market Abuse Regulation This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. This press release was distributed at 07:00 am CET on October 24, 2022. Use of non-IFRS information In presenting and discussing the Philips Group’s financial position, operating results and cash flows, management uses certain non-IFRS financial measures. These non-IFRS financial measures should not be viewed in isolation as alternatives to the equivalent IFRS measure and should be used in conjunction with the most directly comparable IFRS measures. Non-IFRS financial measures do not have standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. A reconciliation of these non-IFRS measures to the most directly comparable IFRS measures is contained in this document. Further information on non-IFRS measures can be found in the Annual Report 2021. Use of fair value information In presenting the Philips Group’s financial position, fair values are used for the measurement of various items in accordance with the applicable accounting standards. These fair values are based on market prices, where available, and are obtained from sources that are deemed to be reliable. Readers are cautioned that these values are subject to changes over time and are only valid at the balance sheet date. When quoted prices or observable market data are not readily available, fair values are estimated using appropriate valuation models and unobservable inputs. Such fair value estimates require management to make significant assumptions with respect to future developments, which are inherently uncertain and may therefore deviate from actual developments. Critical assumptions used are disclosed in the Annual Report 2021. In certain cases independent valuations are obtained to support management’s determination of fair values. Presentation All amounts are in millions of euros unless otherwise stated. Due to rounding, amounts may not add up precisely to the totals provided. All reported data is unaudited. Financial reporting is in accordance with the accounting policies as stated in the Annual Report 2021 except for the adoption of new standards and amendments to standards which are also expected to be reflected in the company’s consolidated financial statements for the year ending December 31, 2022. Prior-period amounts have been reclassified to conform to the current-period presentation; this includes immaterial organizational changes. *) Non-IFRS financial measure. Refer to the Reconciliation of non-IFRS information
The Asian Electronics Online Exhibition 2022 (AsianTRONICS 2022), jointly organized by AsianNet and TradeAsia will exhibit from October 26, 2022 to January 31, 2023, aiming at global buyers of electronics industry. The online showtime will be in line with the schedule of TAITRONICS & AIoT Taiwan 2022 organized by Taiwan External Trade Association from October 26 to 28, 2022, Electronica 2022 in München Germany from November 15 to 18, 2022 and NEPCON JAPAN 2023 from January 25 to 27 2023 to facilitate international buyers to visit and compare products at one time. TradeAsia invites dozens of Taiwanese professional electronics products and components suppliers to participate in the exhibition. Manufacturers and product categories covered Active Component, Connector & Terminal, Consumer Electronic Accessory & Parts, EL Product, Electromechanical Component, Electronic Accessory & Supply, Electronic Data System, Electronic Production Machinery, Optoelectronic Display, Passive Component, PCB & PCBA, Wireless & IoT, Auto Electrical System, Auto Electronic, Auto Safety & Security Product, Battery, Charger, Regulator, Transformer with thousands of latest products, tools and equipment on display. The content of the exhibition can be said to be rich and professional. In addition, TradeAsia simultaneously participated in the physical booth of TAITRONICS & AIoT Taiwan 2022 (Booth number J1125) and displayed exhibitors’ information at the same time, establishing a win-win exhibition model by integrating virtual and physical. AsianTronics 2022 Online Exhibition: https://www.etradeasia.com/online-show/17/Asian-Electronics-Online-Exhibition-2022.html Show Booth:TAITRONICS & AIoT Taiwan 2022 / Booth J1125 In the epidemic, the flow of international personnel has decreased, and traditional exhibitions are significantly hind. Online activities for global trade promotion have become mainstream. At present, most international trade shows provide a variety of online expositions, including webpages, electronic catalogs, or virtual exhibition venues, which allow international buyers to visit even if they are thousands of miles away easily. It will not be affected by long travel and quarantine. AsianTRONICS 2022 has also planned a series of online exhibition schemes. We will provide exhibition webpages, digital catalogs, etc., and link products and exhibitors information to TradeAsia, so that buyers can easily browse and touch. TradeAsia (www.etradeasia.com) has provided B2B international trade services for buyers and sellers since 1997. It is the most experienced and professional trade platform in the world. We currently have millions of global members, more than 600,000 suppliers, and millions of the latest products. Thousands of professional buyers worldwide find products and contact sellers for business cooperation every day. TradeAsia is a significant trade promotion channel in Asia. TradeAsia has also established cooperative relationships with hundreds of trade entities worldwide, exchanging marketing promotion exposures. Therefore, suppliers have a good chance to spread information to global platforms or exhibition entities simultaneously. By this effort, we will significantly increase global marketing power and AsianTRONICS 2022 will also be broadcast globally. News Contact: Doreen Chen (陳榕鏸) Marketing Manager of TradeAsia TradeAsia 亞洲貿易網 行銷部經理 03-5770775 ext.221
HONG KONG SAR - Media OutReach - 21 October 2022 - Nespresso is proud to present RE:FARM, a limited-time, experiential showcase that highlights the full circular journey of coffee - from capsule to cup to the dining table – all under one roof. RE:FARM will run from September 2022 to June 2023 and consumers can personally see, touch, and taste the results of the Nespresso's sustainability efforts. The program is the result of a partnership between Nespresso, K11 and Common Farms, a local indoor agri-tech farm, and is aligned with the sustainability initiatives of parent group Nestlé SA and its commitment to unlock the power of food to enhance quality of life for everyone, today and for generations to come. Nespresso has always done things a certain way. Not the easiest way, not the quickest. But the right way. Since its inception over 30 years ago, Nespresso has remained steadfastly committed to making a difference in the world, and sustainability has become a crucial component of its business today. By embedding transformative actions throughout its value chain, such as regenerative agriculture, eco-design, recycling, and circularity, Nespresso strives to bring positive impact to all its stakeholders, from farmers and business partners to consumers. In 2022, Nespresso was certified as a B Corp and joined a global movement of companies doing business responsibly and transparently while maintaining high sustainability standards. From Capsule to Cup to Table (and back!) – A Circular Journey At RE:FARM, visitors have a unique opportunity to witness Nespresso's sustainable circular system in action. An on-site recycler separates coffee capsules from the coffee grounds and recycles the aluminum to make second life products. Meanwhile, Nespresso's composter turns spent coffee grounds into rich nutrients that will be used to bring life to new produce. Composted coffee grounds serve as an excellent fertilizer and offer numerous benefits in farming, such as improved soil drainage, water retention, and aeration. They also acidify the soil, acting as a natural repellent that deters pests from damaging crops. RE:FARM uses this compost to grow a variety of herbs, microgreens, and edible flowers within self-contained farming units, which are later harvested and sent to selected Nespresso partner restaurants in K11 MUSEA and Rosewood Hong Kong, including Asaya Kitchen, Chaat, Deng G, Yung's Bistro, and other dining establishments that will be joining the project over its nine-month run. As part of the RE:FARM experience, customers are invited to savor the products of Nespresso's circular journey through delicious microgreens and herbs harvested from RE:FARM in specially designed menus available at participating restaurants. Through a journey that sees resources travel from farm to capsule to cup, and back to the farm, Nespresso's own circular economy aims to transform the "take-make-waste" model into a sustainable system that maintains value and minimizes waste. Nespresso hopes to leave visitors with a new understanding and appreciation for circularity through RE:FARM, where end-of-life materials are reimagined and reused as resources rather than waste. In promoting restoration and regeneration, Nespresso continues to hold fast to its commitment to create long-term, positive impact in the world. Coffee as a Force for Good Nespresso's sustainability journey continues to evolve in new and innovative ways. Through inspiring initiatives such as RE:FARM and an unwavering determination to continuously maximize its positive impact, the company remains committed to caring for communities, the climate, and circularity with the same dedication and passion that goes into every cup of Nespresso coffee. Because it is the right thing to do. Located adjacent to Nespresso's existing K11 MUSEA store, RE:FARM will be open from September 2022 to June 2023. For further details and workshop reservations, please visit the RE:FARM website. Visit Nespresso RE:FARM at Unit 30, B201, Taste Chamber, B2, K11 MUSEA Hashtag: #NespressoHK #Bcorp #NespressoREFARMAbout Nestlé Nespresso SANestlé Nespresso SA is the pioneer and reference for highest-quality portioned coffee. The company works with more than 120,000 farmers in 15 countries through its AAA Sustainable Quality™ Program to embed sustainability practices on farms and the surrounding landscapes. Launched in 2003 in collaboration with the NGO Rainforest Alliance and later joined by Fairtrade International, the program helps to improve the yield and quality of harvests, ensuring a sustainable supply of high-quality coffee and improving livelihoods of farmers and their communities. Headquartered in Lausanne, Switzerland, Nespresso operates in 84 countries and has over 14,250 employees. In 2019, it operated a global retail network of 810 boutiques. For more information, visit the Nespresso corporate website: www.nestle-nespresso.com. About the Nespresso Recycling Programme Nespresso capsules are made of aluminium which is the best material to protect the freshness and quality of our coffee. Importantly, aluminum is an infinitely recyclable material. We encourage our Members to participate in recycling their used capsules either by bringing them back to our Boutiques in Hong Kong, or through the Recycling@Home initiative, give those used Nespresso capsules to your deliveryman. Once collected, used Nespresso capsules are taken to a local plant where the aluminium is separated from the coffee residue. The shredded aluminium is sent to a scrap metal collector for further re-melting into recycled aluminium, while the Nespresso coffee grounds separated from the aluminium capsules are sent to a local farm in the New Territories for further processing into farm compost. About B Corp B Corp is a community of companies that commit to have a positive impact on the world – for the environment, the people who work for their businesses and in their supply chains, and for the communities where they operate. The B Corp certification process is incredibly rigorous, demanding the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance purpose and profit. About Common Farms Common Farms is Hong Kong's first soil-based indoor farm, growing remarkable specialty chemical-free and nutrient-dense produce. The Common Farms team is driven by a passion to transform our local food system through clean, efficient and sustainable farming practices, whilst reducing Hong Kong's high dependency on food imports and unnecessary waste. About K11 MUSEA K11 reveals the interactive cycle of – Art, People, Nature, as the door to a way of living that future generations can enjoy as much quality of life as we do today - working together for a better tomorrow. The flagship destination, K11 MUSEA, ushers in a new era of cultural retail, enriching consumer's daily lives through the power of creativity, culture and innovation. Nespresso in Hong Kong: Nespresso ifc mall Boutique Shop 1058A, Level 1, ifc Mall, Central, Hong Kong Nespresso Festival Walk Boutique Shop LG2-70, Festival Walk, Kowloon Tong, Kowloon, Hong Kong Nespresso YOHO Mall Boutique Shop 1056, Level 1, YOHO Mall I, Yuen Long, New Territories, Hong Kong Nespresso K11 MUSEA Boutique Unit 31 & 32, Shop No. B201, Basement 2, K11 MUSEA, Victoria Dockside, Tsim Sha Tsui, Kowloon, Hong Kong Nespresso APM Boutique Shop UC-20, APM, Kwun Tong, Kowloon, Hong Kong Nespresso Element Boutique Shop 1089B, 1 Austin Rd W, Tsim Sha Tsui Nespresso SOGO Point of Sale SOGO Causeway Bay 10/F Nespresso New Town Plaza Point of Sale New Town Plaza 1, Level 2 city'super Nespresso J SELECT PopCorn Point of Sale J SELECT PopCorn, Shop F56-59, PopCorn, Tseung Kwan O IG: nespresso.hk FB: Nespresso.hk Spotify: Nespresso www.nespresso.com/hk
2023
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