Latest news with #VITA
Korea Herald
24-06-2025
- Business
- Korea Herald
Vitasoy Announces Business Results for FY2024/2025
Financial Highlights HONG KONG, June 24, 2025 /PRNewswire/ -- Vitasoy International Holdings Limited ("Vitasoy" or the "Company", together with its subsidiaries, the "Group", Stock Code: 00345) today announced its annual results ended 31 March 2025. In FY2024/2025, the Group delivered revenue growth of 1%, driven by the growth of Vitasoy's core products in Mainland China alongside the solid achievements of the Hong Kong Operation. Mainland China improved its topline sales performance in the second half of the financial year, closing with moderate sales growth. The Group's profit attributable to equity shareholders of the Company grew substantially by 102%, driven by enhanced sales execution focus in Mainland China, strong performance in Hong Kong Operation, and strategic emphasis on improving procurement and operating efficiency at both the market and corporate levels. Mr. Winston Yau-lai Lo, Executive Chairman of Vitasoy International Holdings Limited, said at the press conference today, "In FY2024/2025, the Group observed a significant shift in consumer behaviour toward greater price sensitivity. In the coming year, the indirect impact caused by heightened geopolitical factors and the direct impact due to growth slowdown in the categories we compete are likely to create challenges for our business in the short term. For the longer term however, we remain confident in our ability to drive gradual improvements in both revenue and profitability." Based on the Group's financial performance and cash position, the Board of Directors recommends a final dividend of HK$10.2 cents per ordinary share for FY2024/2025, subject to the shareholders' approval at the Annual General Meeting to be held on 25 August 2025. Together with the interim dividend of HK$4.0 cents per ordinary share, this brings the total dividend for FY2024/2025 to HK$14.2 cents per ordinary share (FY2023/2024 annual: HK$7.7 cents per ordinary share). Mainland China – Sales improvement in the second half enabled moderate topline growth, with strong operating profit growth driven by improved production and operational efficiency Revenue in Mainland China grew slightly by 1% in local currency terms compared with the previous year due to growth from flat in the first half to 2% in the second half of FY2024/2025. Core products under the VITASOY and VITA brands registered concurrent sales and volume growth. While continuing to expand core business of the Group, innovations in both VITASOY (fruity variants of Strawberry and Banana) and VITA TEA (VLT Zero) provided incremental revenue for the existing product portfolio. The Group continued to improve profitability by increasing operating efficiency, lowering commodity prices and exercising disciplined cost control. Profit from operations in Mainland China rose by 41% to achieve a 9% operating margin for the year. Sustained revenue growth and accelerated profitability improvement achieved amidst a challenging retail environment The Hong Kong Operation delivered another year of revenue growth, underpinned by a strengthened core business and targeted innovations. Despite some challenges in the overall local retail environment, both VITASOY and VITA brands continued to lead the market in Hong Kong, reinforcing the strong brand equity. Profit from operations of the Hong Kong Operation grew by 24%, driven mainly by higher sales volumes, lower overhead costs and lower commodity costs, all of which contributed to the 12% operating profit margin for the year. Australia and New Zealand – Revenue from Australia and New Zealand grew 5% in local currency terms, following the resolution of earlier production line issues. After a challenging first half, Vitasoy narrowed the loss from operations in the second half by 31% in local currency terms. This improvement was driven by the restoration of manufacturing stability and optimisation of logistics, which together supported the sustained resumption of promotional activities in the final quarter of FY2024/25. For the full year, the loss from operations decreased by 4% to AUD15 million. Singapore – Gradual recovery in the tofu segment, both local and export, following the transition to a new distributor for imported beverages Revenue from Singapore decreased slightly compared with the previous year. While tofu sales volume grew in both domestic and export markets, the imported beverage business was temporarily affected by the completion of the transition to a new distributor. The loss from operations narrowed, mainly due to lower raw material costs and an optimised sales mix. The Philippines – The joint venture with Universal Robina Corporation will continue to advance scale and grow the exciting plant milk category in this promising market. As the market has shown responsiveness to almond and oat milk across different shopper occasions, Vitasoy will invest behind the comprehensive portfolio of soy, almond and oat milk across both single serve and multi serve. Business Outlook In the current financial year, in the context of a much more challenging external environment and categories' growth slowdown, the Group's goal is to sustain scale and profitability across all operating units by expanding the market share in the core categories of plant milk and ready-to-drink tea, with a particular focus and priority on the Mainland China business. At the same time, the Group will work to sustain sales growth and decrease the loss from operations in Australia. In the longer term, the Group is confident that the brands are well-positioned to gradually better capture growth opportunities thanks to the core portfolio and pipeline of healthy, innovative products. For more details, please refer to the following documents: Vitasoy International Holdings Limited is a leading manufacturer and distributor of plant-based food and beverages. Established in 1940 by the late Dr. Kwee-seong Lo in Hong Kong China, the Company strives to promote sustainable plant-based nutrition through provision of a variety of high-quality products with Nutrition, Taste and Sustainability as the guidelines for its portfolio offerings. Currently, Vitasoy has operations in China, including Mainland China and Hong Kong Special Administrative Region, Australia, Singapore and the Philippines. Its products are available in about 40 markets worldwide. Vitasoy is listed on the main board of the Hong Kong Stock Exchange ( and included as a constituent of Morgan Stanley Capital International (MSCI) Hong Kong Small Cap Index, and Hang Seng Corporate Sustainability Benchmark Index, among others.
Business Wire
12-06-2025
- Business
- Business Wire
ZD Jasper Selects Brilliant Smart Home System as a Standard Amenity for New VITA Condominium Development
SAN MATEO, Calif.--(BUSINESS WIRE)--ZD Jasper, a leading New York based developer specializing in mixed-use residential buildings, chose Brilliant Smart Home System as the standard for its new 121 unit VITA development in the Hudson Yards area of New York City. Designed to align with the demands of modern living and sustainability, VITA is a fully electric property redefining energy efficiency in urban development. In 2022, it received the NYSERDA Buildings of Excellence Award for its low carbon design that prioritizes the well-being of residents. 'Based on positive feedback from prospective buyers, homeowners and our sales team, we brought the Brilliant Smart Home System into VITA', says Susan Wu, Chief Operations Officer at ZD Jasper. Share To fully realize this vision of sustainable, connected living, ZD Jasper has integrated Brilliant into the units—bringing residents seamless smart home control over lighting, climate, and energy-saving features, all through one intuitive system. A Perfect Blend of Smart Technology and City Living Recognizing the value of cutting-edge technology, ZD Jasper began incorporating smart tech solutions into their developments over five years ago to enhance buyer appeal. After evaluating numerous systems, Brilliant emerged as the clear choice given its sleek design, seamless integration across devices, and user-friendly functionality. 'Based on positive feedback from prospective buyers, homeowners and our sales team, we brought the Brilliant Smart Home System into VITA,' says Susan Wu, Chief Operations Officer at ZD Jasper. 'It aligns perfectly with our values of connected and healthy living.' The VITA development will feature the Brilliant Smart Home System alongside Latch Smart Locks, TOTO Automatic toilets, Wi-Fi enabled Gaggenau appliances, and Hunter Douglas motorized shades, creating an all-encompassing technology-forward living experience tailored to urban professionals. Innovative Tech for Modern Homeowners VITA is designed to meet the lifestyle of tech-savvy young professionals, many of whom work in leading tech companies nearby. Here's how Brilliant elevates their living experience: Low-Carbon Lifestyle: Automated climate and lighting controls optimize energy use, keeping bills low while reducing the carbon footprint. Peace of Mind: Supports integrations with smart doorbells which homeowners can add to enhance secure and convenient unit access. Personalized Comfort: Creating Brilliant's automated scenes, residents can effortlessly match their living spaces to daily routines. Whether it's 'Morning Mode' to open blinds and adjust the thermostat or 'Relax Mode' to dim the lights and play music, every home is uniquely attuned to its owner. About Brilliant NextGen Since 2016, Brilliant's technology has been critical to accelerating the mainstream adoption of smart home living with affordable and user-friendly home control and automation systems. Headquartered in San Mateo, California, Brilliant designs and manufactures award-winning smart touchscreen control panels, smart dimmer switches, smart plugs and multifamily platform software. Brilliant is trusted by hundreds of builders, developers, and property managers across the U.S. and Canada as a standard feature of their homes and apartments, providing homeowners and renters with a compelling unified technology experience in their homes. Learn more about VITA. Visit for more details.
Yahoo
12-06-2025
- Business
- Yahoo
ZD Jasper Selects Brilliant Smart Home System as a Standard Amenity for New VITA Condominium Development
SAN MATEO, Calif., June 12, 2025--(BUSINESS WIRE)--ZD Jasper, a leading New York based developer specializing in mixed-use residential buildings, chose Brilliant Smart Home System as the standard for its new 121 unit VITA development in the Hudson Yards area of New York City. Designed to align with the demands of modern living and sustainability, VITA is a fully electric property redefining energy efficiency in urban development. In 2022, it received the NYSERDA Buildings of Excellence Award for its low carbon design that prioritizes the well-being of residents. To fully realize this vision of sustainable, connected living, ZD Jasper has integrated Brilliant into the units—bringing residents seamless smart home control over lighting, climate, and energy-saving features, all through one intuitive system. A Perfect Blend of Smart Technology and City Living Recognizing the value of cutting-edge technology, ZD Jasper began incorporating smart tech solutions into their developments over five years ago to enhance buyer appeal. After evaluating numerous systems, Brilliant emerged as the clear choice given its sleek design, seamless integration across devices, and user-friendly functionality. "Based on positive feedback from prospective buyers, homeowners and our sales team, we brought the Brilliant Smart Home System into VITA," says Susan Wu, Chief Operations Officer at ZD Jasper. "It aligns perfectly with our values of connected and healthy living." The VITA development will feature the Brilliant Smart Home System alongside Latch Smart Locks, TOTO Automatic toilets, Wi-Fi enabled Gaggenau appliances, and Hunter Douglas motorized shades, creating an all-encompassing technology-forward living experience tailored to urban professionals. Innovative Tech for Modern Homeowners VITA is designed to meet the lifestyle of tech-savvy young professionals, many of whom work in leading tech companies nearby. Here's how Brilliant elevates their living experience: Low-Carbon Lifestyle: Automated climate and lighting controls optimize energy use, keeping bills low while reducing the carbon footprint. Peace of Mind: Supports integrations with smart doorbells which homeowners can add to enhance secure and convenient unit access. Personalized Comfort: Creating Brilliant's automated scenes, residents can effortlessly match their living spaces to daily routines. Whether it's "Morning Mode" to open blinds and adjust the thermostat or "Relax Mode" to dim the lights and play music, every home is uniquely attuned to its owner. About Brilliant NextGen Since 2016, Brilliant's technology has been critical to accelerating the mainstream adoption of smart home living with affordable and user-friendly home control and automation systems. Headquartered in San Mateo, California, Brilliant designs and manufactures award-winning smart touchscreen control panels, smart dimmer switches, smart plugs and multifamily platform software. Brilliant is trusted by hundreds of builders, developers, and property managers across the U.S. and Canada as a standard feature of their homes and apartments, providing homeowners and renters with a compelling unified technology experience in their homes. Learn more about for more details. View source version on Contacts Head of MarketingBrilliant NextGenerin@
Yahoo
27-05-2025
- Business
- Yahoo
Direct File is free, easy and trusthworthy — so why does Trump's administration want to end it?
Filling out tax forms, in this file photo from 2022. (Photo by Senior Airman Thomas Karol/U.S. Air Force) It takes most Americans an average of $270 and 13 hours to do their taxes. With Direct File, it takes less than 60 minutes to do it yourself and costs nothing. Direct File is the IRS's new electronic option for taxpayers to file their income tax returns directly with the IRS for free. This tax season, Direct File's pilot expanded to 25 states, including Maryland. Our nonprofit organization, the CASH (Creating Assets, Savings and Hope) Campaign of Maryland (CASH), supported the development of the Maryland State Return add-on to IRS Direct File that directly linked taxpayers to a state return upon completion of their federal tax return. Through targeted outreach and partnerships with local organizations, we helped raise awareness about Direct File and connected thousands of Marylanders with free, accessible tax filing options. This work builds on our long-standing commitment to financial stability and economic empowerment for working families: We promote economic advancement for low- to moderate-income individuals and families and lead a coalition of over 50 free tax preparation sites known as Volunteer Income Tax Assistance (VITA) sites across the state. Maryland Matters welcomes guest commentary submissions at editor@ We suggest a 750-word limit and reserve the right to edit or reject submissions. We do not accept columns that are endorsements of candidates, and no longer accept submissions from elected officials or political candidates. Opinion pieces must be signed by at least one individual using their real name. We do not accept columns signed by an organization. Commentary writers must include a short bio and a photo for their bylines. Views of writers are their own. Like VITA, Direct File gives Marylanders a free, easy, and trustworthy option to meet their tax filing obligations. Unlike VITA, Direct File gives taxpayers an option that doesn't require securing limited appointments and allows them to get their taxes done from home (or even cellphone!). This flexibility is especially important for people with nontraditional work schedules, caregiving responsibilities or transportation barriers. By removing these obstacles, Direct File ensures that more people can meet their tax obligations on their own time, without sacrificing work hours or family commitments. Direct File echoes the goals of VITA while expanding its capacity, giving more low- and moderate-income Americans the opportunity to file their taxes for free rather than paying for and using a third-party tax preparer or software. While VITA is reliant on trained and certified volunteers and nonprofits for capacity, Direct File can be accessed by millions. The Trump administration and Department of Government Efficiency (DOGE) told reporters in April that Direct File would not continue next year, citing 'hidden costs,' 'taxpayer confusion' and the expense of administering the program. There are no costs, hidden or otherwise, to use the program. Direct File is completely free to eligible taxpayers. Because the program allows taxpayers to file directly with the IRS and their states, users are never redirected to paid options. The same cannot be said about Free File compliant software offered by traditional tax software developers like TaxAct and TaxSlayer. Notably, TurboTax by Intuit and H&R Block, two of the largest and most well-known paid tax preparation companies, withdrew from the Free File Alliance in 2021. Filing your taxes can be confusing, but Direct File is simpler and more user-friendly than third-party tax software. Participants during the first year of the program said it themselves: 90% ranked their overall experience as Excellent or Above Average, 90% who used customer support rated that experience as Excellent or Above Average, and 86% of respondents said that their experience with Direct File increased their trust in the IRS. Plus, Direct File users have access to customer support from real people during the entire process. Continuing to build Direct File is an investment that will save time and money for Americans far into the future. If Direct File continues, the taxpayer dollars already invested will not go to waste. Progress has already been made to expand the program. Direct File can grow to serve more states and a wider range of tax situations. Future versions of the program can simplify the process by prefilling information the IRS already has (like the details of a W-2 form). If it is not preemptively shut down, Direct File will continue to be improved based on real feedback from its users. Paying taxes allows our country to thrive, and Americans should not be burdened with extra costs and time-consuming processes to meet their filing obligations. Protecting the Direct File program is an investment in everyday Americans – making their government work for them.
Yahoo
13-04-2025
- Business
- Yahoo
Gen Z is reviving this boring job that millennials and boomers abandoned—and it's helping them land six-figure careers straight out of college
As millions of boomer accountants gear up for retirement, the industry is facing a talent shortage crisis. While it's been lamented as one of America's most boring jobs and headed down a path of extinction, Gen Z is realizing the six-figure career opportunity—and gaining experience by helping individuals file their taxes for free. The IRS is on DOGE's chopping block, the extension of tax cuts is up in the air, and Tax Day is approaching in just days—and accountants are so fed up with the stress that they're leaving the industry in droves. Some 340,000 accountants have already left their calculators behind and quit in the last five years, and some estimates suggest that 75% of those remaining are expected to retire in the next decade. For a field that is often judged as less exciting than others (according to one study, it is the second-most-stereotyped job of boring people), the crisis couldn't get much worse. Now, Gen Z is coming to the rescue. 'Accounting is the science of the business world,' says Alana Kelley, a third-year accounting and biohealth science major at Oregon State University who has helped dozens of families file their taxes this season as part of her school's Volunteer Income Tax Assistance (VITA) program. One was a goat farmer who only had a landline, but no access to the internet. Another was a young woman who was financially supporting her sister. Kelley was able to help them obtain a life-changing $6,000 back in refunds. One of Kelley's peers, Tristan Klascius—a third-year studying accounting and finance—helped an elderly woman gain access to her much-needed Social Security income that she otherwise couldn't figure out. Kelley and Klascius are just two examples of the Gen Zers who are increasingly viewing accounting not as a monotonous chore but as a way to completely transform people's lives. Their actions are already helping save Americans millions of dollars through free tax help through a partnership with the IRS and close to two dozen universities. The IRS's VITA program began over 50 years ago at California State University, Northridge to aid low-income and underserved communities in navigating the increasingly complicated tax system. Last year alone, an army of more than 280 CSUN students helped over 9,000 low-income taxpayers claim nearly $11 million in tax refunds and $3.6 million in tax credits—plus save them over $2 million in tax preparation fees. In the weeks leading up to Tax Day, some students work from 10 in the morning until 10 at night, helping families understand how much money they could get refunded or owe back. And while the impact may seem minimal, especially considering that $8.2 billion in Earned Income Tax Credits were left on the table by Americans in the 2021 tax year, every return and refund dollar can matter for struggling families. Some 66% of Americans feel like they are now living paycheck to paycheck. The CSUN program's current director, Rafael Efrat, tells Fortune that VITA at universities is an embodiment of the good that can come out of the accounting profession and reshape hundreds of young people's views. Even Gen Zers outside of the business school—studying subjects like computer science, public health, and psychology—have been eager to join the tax assistance program. 'While accounting may have a certain image in the background among young people of being not as intriguing and exciting, once they actually engage in the practice and see how it plays out in a real world, it changes people's mind and views,' Efrat says. It's not just low-income Americans getting their taxes filed for free who are set to gain from VITA programs. The student volunteers, too, are obtaining unique hands-on skills by working with clients with sometimes complicated tax situations—and gaining the confidence needed to excel on day one when they graduate and land a six-figure-paying job. 'We throw the students into the water, essentially, and let them swim, and then students actually live up to the challenge,' Efrat says. Despite the median total pay of an accountant being $87,000 (or even $200,000 for certified public accountants (CPAs), getting students excited about taxes remains the ultimate challenge. The number of bachelor's degrees awarded in accounting peaked in 2015–16, and the years following each saw decreases by about 1%–3%, according to the American Institute of CPAs. The pandemic brought an even greater punch, with accounting degrees slipping by as much as 7% between 2021–22 and 2022–23. According to Logan Steele, an accounting professor at OSU, many young people have an outdated view of what an accountant actually does. No longer does the field spend its time performing manual calculations on paper spreadsheets; accountants have outsourced much of the mundane tasks to technology like AI, and they're now more focused on strategic decision-making. However, the tide is beginning to turn, he says. Nearly every accounting graduate at OSU—98%—secure jobs in the field, he says, and their salaries are the highest in recorded history of any major program in the business school. With Gen Zers increasingly preferring job security over job flexibility, the shift to accepting accounting as a promising career path may grow, especially with calls to decrease the barriers to becoming a certified personal accountant. This story was originally featured on
