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Combined broad and differentiated portfolio with trusted technologies and commercial and service organizations Customers will have simpler and greater access to industry-leading expertise, tools, and services AMERSHAM, United Kingdom, May 2, 2023 /PRNewswire/ -- Cytiva and the life sciences business of Pall Corporation have completed their integration and are now united as one business under the Cytiva brand. With nearly 16 000 associates in 40 countries, and more than 300 years' heritage of trusted expertise, the new Cytiva supports customers in solving major biotechnology challenges and plays a critical role in advancing and accelerating therapeutics for the benefit of patients everywhere. In January 2023, the life sciences business of Pall separated from Pall Corporation. Pall's biotech portfolio is now a product family in Cytiva's bioprocess business. The Pall medical portfolio will remain a market brand and part of Cytiva. Pall Corporation continues to operate as a Danaher operating company serving customers across a wide range of industrial applications. Emmanuel Ligner, Danaher Group Executive, President and CEO of Cytiva, says: "The biotechnology industry is at the start of a new era. New modalities are emerging, there is greater emphasis on local manufacturing, and we are accelerating the adoption of digital solutions. Our customers need a partner that can meet them at every part of their process. Uniting Cytiva and the life sciences business of Pall gives us the focus, expertise, and talent to help our customers discover, develop, and deliver the next generation of novel therapeutics." Cytiva's now expanded and differentiated portfolio will better enable customers to accelerate therapeutics from discovery to delivery. The portfolio now includes industry-leading product brands including Allegro, Supor, iCELLis, Kleenpak, and Pegasus, in addition to ÄKTA, Amersham, Biacore, FlexFactory, HyClone, MabSelect, Sefia, Whatman, Xcellerex, and Xuri*. Meet Cytiva's leadership team here. For additional video assets, please contact Cytiva. *Allegro, Supor, iCELLis, Kleenpak, Pegasus, ÄKTA, Amersham, Biacore, FlexFactory, HyClone, MabSelect, Sefia, Whatman, Xcellerex, and Xuri are trademarks of Global Life Solutions USA LLC or an affiliate doing business as Cytiva. About CytivaAt Cytiva, our mission is to advance and accelerate the development of therapeutics. With nearly 16 000 associates in more than 40 countries, we're driven to use our expertise and talent to achieve better flexibility, capacity, and efficiency for our customers. Our broad and deep portfolio of tools and technologies, global scale, and best-in-class service provides critical support from discovery to delivery, for customers spanning researchers, emerging biotech, large-scale biopharma and contract manufacturers. Learn more at cytiva.com Video - https://mma.prnasia.com/media2/2066429/Cytiva_President_and_CEO_Emmanuel_Ligner.mp4
CHANGZHOU, China, May 2, 2023 /PRNewswire/ -- On March 24 and 26, Trina Solar published its full year 2022 and Q1 2023 financial results, saying it had annual revenue of $12.645 billion (RMB 85.052 billion), an increase of 83.41% on 2021. The company's main businesses, including PV products, PV system and smart energy all registered strong growth. Module shipments continue to power ahead Trina Solar's module shipments in 2022 totaled 43.09GW and cumulative module shipments exceeded 140GW by the end of March 2023, the company said. In cumulative shipments of 210mm modules, the independent new-energy research agency TrendForce said the number had exceeded 120GW by the first quarter this year, of which Trina Solar accounted for 65GW+, ranking first in 210mm module shipments globally, with a market share of more than 50%. Trina Solar's high-performance 600W+ Vertex modules based on the 210mm product technology platform have become the preferred choice worldwide. By virtue of the advanced i-TOPCon cell technology and 210mm technology, Trina Solar has built a robust n-type ecosystem that can be applied in numerous settings, helping its customers reap great benefits. Module capacity reaches 95GW, speeding up n-type product development From the end of last year, Trina Solar's 210mm n-type i-TOPCon ingots, cells and modules came into mass production. By the end of this year, cell capacity will be 75GW and module capacity will be 95GW, including 40GW of n-type cells, the company said. Leading technology: Delivering more benefits to customers Trina Solar continues to invest heavily in technological innovation. It obtained 173 new patents last year and now owns 1,159 patents. Trina Solar also continues to be a global pacemaker and record setter and last year broke world record for three times by setting PERC cell efficiency and industrial large-area n-type i-TOPCon cell and module efficiency. A model global citizen in reducing carbon emissions Trina Solar is deeply committed to delivering low-carbon products to customers worldwide and adheres to low-carbon practices in every aspect of product development, production and use. With its industry-leading carbon emissions reductions, Trina Solar's Vertex modules have received LCA certification and a Carbon Footprint Certificate in 2022. In this April Ti Group awarded Trina Solar's factory in Yiwu, Zhejiang province, a Zero Carbon Factory certificate, the first such certificate to be awarded to a photovoltaic company. Trust from global influential institutions Trina Solar has won recognition from respected international institutions. It has scored 100% in the BNEF Bankability Survey for the past seven years and was given the highest ranking, AAA, for four consecutive quarters in the PV Tech Module Tech Bankability Ratings report, as of first quarter 2023. Since Trina Solar was founded 25 years ago it has supplied the world with more than 140GW of solar modules and has a presence in more than 150 countries and regions. The company is committed to making more contributions with its outstanding products, technological innovation and stable financial performance.
BEIJING, May 2, 2023 /PRNewswire/ -- ReTo Eco-Solutions, Inc. (Nasdaq: RETO) ("ReTo," "Company," "we," "our" or "us"), a provider of technology solutions, operation services for intelligent ecological environments, roadside assistance services and software development services in China, today announced its audited financial results for the fiscal year ended December 31, 2022. Financial Highlights for the Fiscal Year 2022 Total revenue for the fiscal year 2022 increased by 80% to approximately $6.5 million, primarily due to higher machinery and equipment sales resulted from contracts for gravity separators and revenue from roadside assistance ("RSA") services and software development services, which were acquired in December 2021. Gross profit for the fiscal year 2022 increased by 109% to approximately $0.8 million. Gross profit margin was 12% for the fiscal year 2022, as compared to 11% for the prior year. Total net loss for the fiscal year 2022 was approximately $15.4 million, compared to approximately $22.1 million for the prior year. Mr. Hengfang Li, ReTo's Chairman and Chief Executive Officer, said, "The total revenue in 2022 has increased compared to the previous year mainly due to the increase of income from sales of the Company's gravity separators and the newly added RSA services and software development services. As we move into post-epidemic era and adjust our business strategy and model, we will focus on the ecological and environmental protection business and plan to leverage our Internet of Things technology, ecological restoration technology and new ecological materials to empower our equipment business. Since the second half of 2022, we have launched a number of ecological and environmental protection projects, including large-scale Ecologic Oriented Development ("EOD") projects. We have started to work on a solid waste treatment and ecological governance EOD project for China-Mongolia Group and entered into a strategic cooperation agreement with the local government of Mengzi City, Yunnan Province for another ecological EOD project." Financial Results for the Fiscal Years 2022 and 2021 Revenues Our total revenues from continuing operations increased by approximately $2.9 million, or 80%, to approximately $6.5 million for the year ended December 31, 2022 from approximately $3.6 million for the year ended December 31, 2021. Among our total revenue, revenue from third-party customers increased by approximately $2.9 million, or 86%, from approximately $3.3 million for the year ended December 31, 2021 to approximately $6.2 million for the year ended December 31, 2022, while revenue from related-party customers increased by $23,091, or 8%, from $281,784 for the year ended December 31, 2021 to $304,875 for the year ended December 31, 2022. The significant increase in our total revenue was mainly due to higher machinery and equipment sales resulted from contracts for gravity separators and revenue from RSA services and software development services, which were acquired in December 2021. Cost of Revenues Our total cost of revenues increased by approximately $2.5 million, or 76%, to approximately $5.7 million for the year ended December 31, 2022 from approximately $3.2 million for the year ended December 31, 2021. Cost of revenues from third-party customers increased by approximately $2.2 million, or 71%, from approximately $3.0 million in the year ended December 31, 2021 to approximately $5.2 million in the year ended December 31, 2022, while cost of revenues from related-party customers increased by approximately $0.3 million, or 170%, from approximately $0.2 million in the year ended December 31, 2021 to approximately $0.5 million in the year ended December 31, 2022. The increase in our total cost of revenue was in line with the increase in revenue. The cost of revenues percentage decreased to 88% in the year ended December 31, 2022 from 89% in the year ended December 31, 2021. Gross Profit (Loss) Our gross profit increased by approximately $0.4 million, or 109%, to approximately $0.8 million for the year ended December 31, 2022 from approximately $0.4 million for the year ended December 31, 2021. Gross profit margin for our continuing operations was 12% for the year ended December 31, 2022, as compared to 11% for the year ended December 31, 2021. Selling Expenses For the year ended December 31, 2022, our selling expenses were approximately $3.8 million, representing a 357% increase from approximately $0.8 million in the year ended December 31, 2021. As a percentage of sales, our selling expenses were 58% and 23% for the years ended December 31, 2022 and 2021, respectively. The increase was mainly due to more marketing activities and shipping and handling fees associated with increased sales in the year ended December 31, 2022. General and Administrative Expenses For the year ended December 31, 2022, our general and administrative expenses were approximately $8.6 million, representing an increase of approximately $4.0 million compared to approximately $4.6 million in the year ended December 31, 2021. The increase in general and administrative expenses was mainly due to an increase of share-based compensation for services and consulting and professional fees of approximately $4.0 million. As a percentage of revenues, general and administrative expenses were 133% and 129% of our total revenues for the years ended December 31, 2022 and 2021, respectively. Bad Debt Expenses For the year ended December 31, 2022, our bad debt expenses were approximately $1.7 million, representing a decrease of approximately $0.5 million as compared to approximately $2.3 million in the year ended December 31, 2021. We incurred significant bad debt expenses on uncollectible accounts receivable and advance payments for the years ended December 31, 2022 and 2021. The impact of COVID-19 on our customers in 2022 was less severe than in 2021. As a percentage of revenues, bad debt expenses were 26% and 63% of our total revenues for the years ended December 31, 2022 and 2021, respectively. Research and Development Expenses Our research and development ("R&D") expenses were approximately $1.0 million and $0.3 million for the years ended December 31, 2022 and 2021, respectively. The increase in R&D expenses in the year ended December 31, 2022 was due to more R&D projects conducted by Beijing REIT Technology Development Co., Ltd., ReTo's wholly-owned subsidiary. Change in Fair Value in Convertible Debt During the years ended December 31, 2022 and 2021, change in fair value in convertible debt amounted to approximately $0.5 million and $1.9 million, respectively. Net Loss Our net loss from continuing operations amounted to approximately $15.4 million and $20.5 million for the years ended December 31, 2022 and 2021, respectively. Our net loss from discontinued operations amounted to nil and approximately $1.6 million for the years ended December 31, 2022 and 2021, respectively. Total net loss amounted to approximately $15.4 million and $22.1 million for the years ended December 31, 2022 and 2021, respectively. Financial Position As of December 31, 2022, the Company had cash of approximately $0.1 million and accounts receivable of approximately $2.2 million. As of December 31, 2022, the Company had a working capital deficit of approximately of $10.1 million. As of December 31, 2022, the Company had outstanding bank loans of approximately $1.3 million. Additional information regarding the Company's results of operations for the fiscal year 2022 can be found in the Company's Annual Report on Form 20-F for the year ended December 31, 2022, which has been filed with the Securities and Exchange Commission on the date of this earnings release. About ReTo Eco-Solutions, Inc. Founded in 1999, ReTo, through its proprietary technologies, systems and solutions, is striving to bring clean water and fertile soil to communities worldwide. The Company, through its operating subsidiaries in China, is engaged in the manufacture and distribution of eco-friendly construction materials (aggregates, bricks, pavers and tiles), as well as equipment used for the production of these eco-friendly construction materials. In addition, the Company provides consultation, design, project implementation and construction of urban ecological protection projects and parts, engineering support, consulting, technical advice and service, and other project-related solutions for its manufacturing equipment and environmental protection projects. The Company also offers roadside assistance services and software development services utilizing Internet of Things technologies. For more information, please visit: http://en.retoeco.com. Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: ReTo's goal and strategies; ReTo's future business development, financial condition and results of operations; expected changes in ReTo's revenues, costs or expenses; industry landscape of, and trends in, the construction industry; ReTo's expectations regarding demand for, and market acceptance of, its services; the impact of COVID-19 pandemic; general economic and business condition; and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the "SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. For more information, please contact: ReTo Eco-Solutions, Inc.Yue Hu Beijing Phone: +86-010-64827328ir@retoeco.com or 311@reit.cc RETO ECO-SOLUTIONS INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, December 31, 2022 2021 ASSETS Current Assets: Cash and cash equivalents $ 113,895 $ 457,495 Accounts receivable, net 2,150,450 441,703 Accounts receivable, net - related party 83,736 93,589 Advances to suppliers, net 453,894 281,600 Advances to suppliers, net - related party 3,787,036 3,842,620 Inventories, net 337,798 463,731 Prepayments and other current assets 402,151 389,864 Due from related parties 208,225 - Receivable from disposition - current - 7,059,559 Total Current Assets 7,537,185 13,030,161 Property, plant and equipment, net 8,722,435 9,707,602 Intangible assets, net 4,869,654 4,111,029 Long-term investment in equity investee 2,503,944 2,758,228 Right-of-use assets 424,999 278,269 Goodwill - 1,075,778 Total Assets $ 24,058,217 $ 30,961,067 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Short-term loans $ 1,319,490 2,353,500 Convertible debt 3,922,686 1,645,000 Advances from customers 2,551,216 2,061,203 Due to a minority shareholder 725,000 - Deferred grants - current 18,563 269,061 Accounts payable 2,624,701 2,121,313 Accounts payable - related party - 10,199 Accrued and other liabilities 2,717,432 3,103,056 Loans from third parties 1,106,233 1,593,977 Taxes payable 2,077,088 2,599,770 Due to related parties - 472,439 Operating lease liabilities, current 277,036 155,857 Deferred tax liability 325,593 370,856 Total Current Liabilities 17,665,038 16,756,231 Loans from third parties-noncurrent 1,160,000 - Operating lease liabilities - noncurrent 158,650 120,558 Total Liabilities 18,983,688 16,876,789 Commitments and Contingencies Shareholders' Equity: Common Share, $0.001 par value, 200,000,000 shares authorized, 43,398,885 shares and 28,965,034 shares issued and outstanding as of December 31, 2022 and 2021, respectively 43,400 28,966 Additional paid-in capital 53,331,093 46,776,170 Statutory reserve 1,066,554 1,230,387 Accumulated deficit (47,813,206 ) (33,347,984 ) Accumulated other comprehensive loss (2,388,890 ) (1,135,386 ) Total Shareholders' Equity Attributable to ReTo Eco-Solutions Inc. 4,238,951 13,552,153 Noncontrolling interest 835,578 532,125 Total Shareholders' Equity 5,074,529 14,084,278 Total Liabilities and Shareholders' Equity $ 24,058,217 30,961,067 RETO ECO-SOLUTIONS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Years Ended December 31, 2022 2021 2020 Revenues $ 6,168,798 $ 3,318,294 $ 8,110,401 Revenues – related parties 304,875 281,784 228,814 Total Revenues 6,473,673 3,600,078 8,339,215 Cost of revenues 5,195,159 3,039,296 6,193,505 Cost of revenues – related parties 471,849 175,053 148,034 Total cost of revenues 5,667,008 3,214,349 6,341,539 Gross Profit 806,665 385,729 1,997,676 Operating Expenses: Selling expenses 3,774,666 826,242 1,085,602 General and administrative expenses 8,592,966 4,619,058 3,971,496 Bad debt expenses 1,710,839 2,250,334 909,931 Impairment of long-lived assets - 4,344,133 2,267,485 Impairment of goodwill 1,018,870 - - Research and development expenses 960,598 346,951 334,904 Total Operating Expenses 16,057,939 12,386,718 8,569,418 Loss from Operations (15,251,274 ) (12,000,989 ) (6,571,742 ) Other Income (Expenses): Interest expense (321,686 ) (103,340 ) (857,551 ) Interest income 3,234 1,898 (64 ) Other income (expenses), net 177,753 (26,991 ) 480,054 Loss from disposal of REIT Changjiang - (6,293,149 ) - Gain from dissolution of subsidiaries 508,345 - - Gain from disposal of Gu'an REIT - - 2,231,270 Share of losses in equity method investments (46,209 ) (142,673 ) - Change in fair value convertible debt (467,383 ) (1,908,830 ) - Total Other Income (Expenses), net (145,946 ) (8,473,085 ) 1,853,709 Loss before provision for income taxes (15,397,220 ) (20,474,074 ) (4,718,033 ) Income taxes provision (benefit) (17,562 ) 3,469 569,974 Net loss from continuing operations (15,379,658 ) (20,477,543 ) (5,288,007 ) Net loss from discontinued operations, net of taxes - (1,596,390 ) (7,612,601 ) Net Loss (15,379,658 ) (22,073,933 ) (12,900,608 ) Less: net loss attributable to noncontrolling interest (750,603 ) (969,107 ) (1,126,845 ) Net loss attributable to ReTo Eco-Solutions, Inc. $ (14,629,055 ) $ (21,104,826 ) $ (11,773,763 ) Comprehensive Loss: Net Loss $ (15,379,658 ) (22,073,933 ) (12,900,608 ) Other Comprehensive income (loss): Foreign currency translation adjustments (1,183,819 ) 493,769 1,923,316 Comprehensive Loss (16,563,477 ) (21,580,164 ) (10,977,292 ) Less: comprehensive loss attributable to noncontrolling interest (680,918 ) (938,771 ) (1,132,148 ) Comprehensive loss attributable to ReTo Eco-Solutions, Inc. $ (15,882,559 ) $ (20,641,393 ) $ (9,845,144 ) Net loss attributable to ReTo Eco-Solutions, Inc. Continuing operations (14,629,055 ) (19,508,436 ) (4,161,162 ) Discontinued operations - (1,596,390 ) (7,612,601 ) Total $ (14,629,055 ) $ (21,104,826 ) $ (11,773,763 ) Basic and Diluted Loss Per Share Attributable to ReTo Eco-Solutions, Inc. Continuing operations (0.38 ) (0.75 ) (0.17 ) Discontinued operations - (0.06 ) (0.32 ) Total $ (0.38 ) $ (0.81 ) $ (0.49 ) Weighted average number of shares Basic and diluted 38,800,974 26,160,750 24,124,884
市佔份額達15.4%創新高 中場博彩毛收入創紀錄 達2019年第一季的107% 香港2023年5月2日 /美通社/ -- 美高梅中國控股有限公司(「美高梅中國」或「本公司」;香港聯交所股份代號:2282)今天公佈本公司及其附屬公司(「本集團」)截至 2023年3月31日止三個月(「本期間」)的未經審核節選財務數據。 澳門於去年12 月下旬取消2019新型冠狀病毒相關旅遊限制及檢疫要求後,訪澳旅客人數顯著回升。於本期間,訪澳旅客人數每日平均達約 55,000,對比一年前約為21,000。 期內訪澳人數均按月增長,3月份平均每日達約63,000,已回復至2019年第一季的48%。 放寬訪澳旅遊限制對市場博彩毛收入亦起了提振作用。澳門博彩毛收入已接近翻倍至每日3.85億元澳門幣,回復至2019 年第一季 45%。 美高梅中國表現繼續優於市場,本集團第一季淨收入按年增加131.2%至48億港元,達2019年第一季的84%。 本集團經調整EBITDA為14億港元,較去年同期4,600萬港元大幅提升,並達到2019年第一季度的87%。 美高梅中國每日博彩毛收入回復至 2019 年第一季的 76%,優於市場的45%。 本集團的中場博彩毛收入於本期間創下新高,超越疫情前水平,達2019年第一季的107%,高於市場60-70% 的水平。 我們樂見本集團的市場佔有率於本期間創下歷史新高至15.4%(2022年第一季:13.3%;2019年第一季:9.4%)。澳門美高梅的市佔份額為 7.5%,美獅美高梅的市佔份額為 7.9%。 集團專注中場業務及持續提升營運效率,經調整EBITDA毛利率從 2019 年第一季度的 28.1% 增長至本期間29.2%。 酒店平均入住率為 90.5%,去年同期為 49.2%。 按物業計算,澳門美高梅錄得收益23 億港元(2022年第一季:12億港元)、經調整EBITDA 為6.95 億港元(2022年第一季:1.53 億港元)。 美獅美高梅收益為 25億港元(2022年第一季度:9.14億港元),經調整 EBITDA 為 7.18 億港元(2022年第一季: 負1.08 億港元)。 本集團保持穩健財務狀況。於2023年3月31日,集團總流動資金為約155億港元,包括現金、現金等價物及循環信貸融通的可供動用借款額。 本集團感謝團隊過往努力取得卓越成績,並充分展現我們關鍵結構增量優勢,包括: 深入了解客戶需求,持續提升服務水平; 進一步優化澳門美高梅及美獅美高梅的主場地博彩樓層佈局,迎合中場及高端賓客; 緊抓我們擁有全球及國際營銷網絡的優勢,積極運用客戶數據庫,旨將全球顧客帶到我們酒店;及 賭枱數目增加,提高盈利能力。 根據由 2023 年 1 月 1 日起生效的博彩合同,本集團有權經營合共 750 張賭枱,對比以前經營的552張增加36%,所有賭枱已於第一季度末前獲得運營牌照。隨著需求回升及翻新娛樂場進度,我們會逐步開放賭枱及延長營運時間,提高生產力。 美高梅總裁、戰略及首席財務官馮小峰表示:「我們在澳門出色的表現,全賴團隊早前把握時機,周詳部署策劃及精心執行策略,在市場重開後成功進一步搶佔市場份額及取得成果。」 馮小峰續說:「美高梅對澳門市場回復興旺感到鼓舞。我們會繼續致力履行對澳門特區政府的承諾,全力協助澳門打造成為世界旅遊休閒中心。」 關於美高梅中國控股有限公司 美高梅中國控股有限公司(股份代號 : 2282)簡稱美高梅,為大中華地區領先的娛樂場博彩度假酒店發展商、擁有者和運營商之一,是美高梅金殿超濠股份有限公司的控股公司,為六家持有澳門經營博彩業務特許權之企業之一。美高梅金殿超濠現時擁有及經營兩家酒店,一為位於澳門半島、屢獲殊榮的豪華綜合度假酒店 - 澳門美高梅;另一為 2018 年初開業、位於路氹城的現代豪華綜合度假酒店 - 美獅美高梅,使我們在澳門的版圖擴大逾一倍。 美高梅中國控股有限公司主要由美高梅國際酒店集團(MGM Resorts International)擁有(紐約證券交易所代號:MGM)。美高梅國際酒店集團是世界領先的全球酒店及餐飲款待公司,其轄下的度假酒店項目包括百樂宮大酒店(Bellagio)、美高梅大酒店(MGM Grand)、曼德拉灣大酒店(Mandalay Bay)及金殿大酒店(The Mirage)。有關美高梅國際酒店集團的詳情,請瀏覽 www.mgmresorts.com。
Market Share Record High of 15.4% Mass GGR New High Reached 107% of 2019 First Quarter HONG KONG, May 2, 2023 /PRNewswire/ -- MGM China Holdings Limited ("MGM China" or the "Company"; SEHK Stock Code: 2282) today announced the selected unaudited financial data of the Company and its subsidiaries (the "Group") for the three months ended March 31, 2023 (the "Period"). Macau saw a pick up of visitation soon after the lifting of travel restrictions and quarantine requirements from COVID-19 pandemic in late December. Average daily visitor arrival for the Period reached approximately 55,000, compared to approximately 21,000 a year ago. Average daily visitation for the Period recovered to 48% of first quarter 2019, and it experienced month-on-month growth during the Period and reached approximately 63,000 in March. The ease of travel restrictions to Macau also boosted the market gross gaming revenue (GGR). Industry daily GGR nearly doubled to MOP385 million, represented a 45% recovery of first quarter 2019. MGM China continued to outperform the market amid of industry recovery. Net revenue of the Group increased by 131.2% year-on-year to HK$4.8 billion for the Period, reached 84% of first quarter 2019. The Group reported adjusted EBITDA of HK$1.4 billion, significantly improved from HK$46 million same period last year, reached 87% of first quarter 2019. Daily GGR for the Period recovered to 76% of first quarter 2019, outperformed industry's 45% recovery. MGM China saw record high mass GGR during the Period. Daily mass GGR surpassed pre-COVID levels at 107% of first quarter 2019, higher than market's 60-70% levels. We saw market share reach historical high of 15.4% during the Period, compared to 13.3% a year ago and 9.4% in first quarter 2019. MGM MACAU market share was 7.5% and MGM COTAI market share was 7.9%. Adjusted EBITDA margin also grew to 29.2%, compared to 28.1% in first quarter 2019, with a mass-focused business and continuous improvement in operation efficiency. Average occupancy was 90.5%, compared to 49.2% same period a year ago. On a property basis, MGM MACAU recorded revenue of HK$2.3 billion (22Q1: HK$1.2 billion) and an adjusted EBITDA of HK$695 million (22Q1: HK$153 million). MGM COTAI saw revenue of HK$2.5 billion (22Q1: HK$914 million) and an adjusted EBITDA of HK$718 million (22Q1: negative adjusted EBITDA of HK$108 million). The Group maintained a healthy financial position. As of March 31, 2023, the Group had total liquidity of approximately HK$15.5 billion, comprised of cash and cash equivalents and undrawn revolver. The Group was grateful for the team's effort in achieving the outperformance. It also demonstrated our key structural incremental advantages, including: our deep understanding of customers with continued improvements in service levels; we improved our offering, with remodels of the main gaming floors at both MGM MACAU and MGM COTAI to focus on mass and premium mass customers; we also have the advantage of our global scale and international branch marketing network. We are actively leveraging our customer database to bring global customers to our properties; and enhancing profitability with additional tables. Under the gaming concession contract effective January 1, 2023, the Group is entitled to operate a total of 750 gaming tables, compared with 552 gaming tables previously, represents a 36% increase. All the tables were licensed as of the end of the first quarter. We will open them and increase productivity as demand returns and we complete further refurbishments on the gaming floors. Kenneth Feng, President, Strategic & Chief Financial Officer of MGM China said: "Our remarkable performance in Macau is a direct result of the meticulous preparation and well-executed plan put together by our team who ensured that we were ready to capture market share and drive results upon market reopening. "The recovery in Macau has been encouraging. We will stay dedicated to fulfilling our commitments to the Macau Government. We look forward to working alongside them as we support Macau's positioning as a World Center of Tourism and Leisure," said Kenneth Feng. About MGM China Holdings Limited MGM China Holdings Limited (HKEx: 2282) is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and MGM COTAI, a contemporary luxury integrated resort in Cotai, which opened in early 2018 and more than doubles our presence in Macau. MGM China is majority owned by MGM Resorts International (NYSE: MGM) one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, ARIA, MGM Grand, Mandalay Bay and Park MGM. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.
SYDNEY, May 2, 2023 /PRNewswire/ -- This World Tuna Day, today, the Marine Stewardship Council (MSC) has revealed that whilst most Aussies are seeking sustainable tuna (57%), many find it too difficult due to the limited options available and find it confusing to make the right choice. Canned tuna is the most popular type of tuna in Australia. Credit: milosljubicic The research conducted by YouGov found that a whopping 14.4 million Australians buy canned tuna, with millennials and parents purchasing more than average. An estimated 336 million servings of tuna are consumed annually, with the average household consuming 36 per year. With canned tuna sales in Australia exceeding $400 million in 2022, the impact of this household staple on global tuna stocks from overfishing is significant, according to Anne Gabriel, Program Director, Oceania for the Marine Stewardship Council, adding: "Many of us are confused by the multitude of environmental claims on tuna cans. Most tuna sold in Australia is not independently certified as sustainably caught, which is a major concern when our ocean faces extreme pressures from climate change and overfishing." Aussies want to shop sustainable tuna, but availability and information is lacking Prof Gretta Pecl at the University of Tasmania and member of the Biodiversity Council explains that healthy tuna populations mean the marine ecosystem is functioning well: "Take away too many tuna, and there can be ecosystem change which could be bad news for ocean health and our continued love of tuna as a quick and tasty high-protein meal." Despite best intentions, nearly two in five (37%) claim they can't easily find sustainable tuna when shopping, and over two in five (43%) can't see many canned tuna brands on the shelf that have an ecolabel from a trusted independent organisation. Almost half (45%) are confused about what they should look for. With the MSC blue fish tick label found to be the most trusted independent claim on canned tuna, Katie Saunders from John West is urging other tuna brands to follow their lead: "Each year, Australians buy 80 million cans of certified sustainable John West tuna with the MSC blue fish tick label to be assured their purchase isn't costing the ocean. "We call on more brands to join the global effort to source seafood from well-managed fisheries and employ responsible fishing strategies to protect tuna stocks so we can continue to enjoy tuna for generations to come." Despite price being the top factor (25%) influencing tuna purchasing decisions, three in five (60%) would be more likely to purchase canned tuna if it were third-party certified with an ecolabel, and almost three-quarters (72%) would be willing to spend an average of 15.6 percent more for it. An independent third-party assurance has a bigger influence than brand claims, with about three in ten (28%) saying it is one of the top deciding factors, while less than two in ten (18%) say so about a brand environmental message or claim on the packaging. With the product label being the first point of reference for most shoppers (52%) when looking to find out whether a brand is sustainable, Kiarne Treacy, CEO and Founder of Sustainable Choice Group, said: "Following the recent ACCC investigation into sustainability claims, now is the time for businesses to review their use of eco-labels, both third-party and self-made. Eco-labels have the power to guide more sustainable consumption or mislead if misused. When the nature of the certification scheme is clearly described, these labels play a vital role in educating the consumer when they need it most, like at the supermarket shelf." Shoppers are advised to seek out credible certification labels such as the MSC blue fish tick, which indicates sustainable seafood from an independently certified sustainable fishery.
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