TIME Interconnect Technology Limited Archives

TIME Interconnect’s Major Shareholder Increased the Shareholding

Prospective Outlook is Expected with a Series of Acquisitions Earlier

TIME Interconnect Technology Limited (the Company, Stock Code: 1729, with its subsidiaries collectively referred to as the Group) is pleased to announce details of the increase in the shareholding in the Company by controlling shareholder, Mr. Lo Chung Wai Paul, a non-executive director of the Company and the Chairman of the board of directors of the Company.

On 10 September 2021, Mr. Paul Lo acquired the entire issued share capital of Datatech Investment Inc. (a substantial shareholder holding 204,930,000 shares (the “Shares”) of the Company) through Lacosta Harness Limited ( a company direct wholly and beneficially owned by Mr.Paul Lo) from Mr. Kwong Ping Man at a total cash consideration of HK$109,637,550.00 (the “Acquisition”). Immediately after the Acquisition, Mr. Paul Lo is deemed to increase his interest from 1,175,070,000 Shares to 1,380,000,000 Shares, which represents an increase from approximately 63.85% to approximately 74.98% of the total issued shares of the Company as of today. The increase in the shareholding recognises his confidence in the prospects and intrinsic value of the Company as well as his long-term commitment towards the Company.

Meanwhile, the Group has regularly reviewed its own business and strived to seize any business opportunities and made regular strategic deployments to expand its business in order to cope with the impact of global economic changes, pandemic and potential trade wars.

On August 31, 2021, Time Interconnect Investment Limited, a direct wholly-owned subsidiary of the Company, completed the acquisition of GPIM Group Marketing Limited and its subsidiary. (“GPIM Group”). The acquisition provides the Group with an attractive opportunity to expand and diversify the Group’s business and investment portfolio, and enhance its income sources and long-term development potential. Taking into account the vigorous development of the automotive and electric vehicle markets, the acquisition has helped the Group to enter new business areas. In the past few years, China has remained the world’s largest auto market and auto producer. As the Chinese government has launched certain industry plans that focus on technological improvements, fossil fuels are expected to be exhausted soon in the future. Large Chinese companies have announced their initiatives to develop electric vehicles and/or autonomous driving technologies. In October 2020, the State Council set a goal and stated that by 2025, the sales of new energy vehicles in China will reach 20% of the total sales of new vehicles. In view of this, the management noted that one of the major customers of the Group cooperated with automobile manufacturers to launch the first electric vehicle model named after the customer’s brand. The Group believes that the automotive wiring products can help the Group to provide this major customer with a broader product portfolio, and to step in new business sectors by enriching the Group’s business portfolio and broadening its unique customer base, which can capture opportunities brought by the booming electric vehicle market.

The Group also acquired Linkz Cables Limited. on June 30, 2020, which has created synergy by integrating the R&D resources of the Group and GPIM Group by utilizing rich knowledge and existing production facilities to deliver reliable and high-quality products to its customers. Since the autonomous driving technology of smart cars usually requires reliable and high-speed data transmission, the Group can produce new smart car products that can meet the highest standards and specifications with the technical support of Linkz Cables Limited. In addition, GPIM Group production facilities are close to the Group’s existing production facilities in Huizhou. As a result, the efficiency of GPIM Group ‘s management operations can be optimized through the local management of the Group.

Mr. Paul Lo, Chairman of the Company said,” The Group’s business has been continuously growing through a series of strategic acquisitions and deployments. We are very confident in the prospect of the Group. Shares have been trading at a level which significantly undervalues the Company’s performance and underlying value. This increase in holdings of the Group’s shares shows my long-term commitment to the company. I am full of confidence in the company’s prospects and intrinsic value. Looking ahead, the Group will continue to take proactive measures to expand its business and bring greater returns to shareholders and investors. We strongly believe that the performance will be reflected in the stock price in long run.”

About TIME Interconnect Technology Limited
TIME Interconnect Technology Limited is a well-established supplier of custom cable assemblies with around 30 years of experience in the cable assembly industry. The Group primarily manufactures and supplies a wide variety of copper and optical fibre cable assemblies which are produced in accordance with the specifications and designs of individual customer. The products of the Group are used by a number of established PRC and international customers in a variety of market sectors including 5G telecommunications, data centre, industrial and medical equipment.

TIME Interconnect’s Wholly-Owned Subsidiary Successfully Achieved ISO14064 Accreditation on Environmental Control

Being the first wire and cable company in Asia to receive the Greenhouse Gas verification from UL

TIME Interconnect Technology Limited (“TIME Interconnect”, Stock Code: 1729.HK, with its subsidiaries collectively referred to as the “Group”) is pleased to announce that its wholly-owned subsidiary Linkz Industries (Suzhou) Limited (“Linkz Ind (Suzhou)”) has recently achieved ISO14064 accreditation on environmental control, being the first wire and cable company in Asia to receive the Greenhouse Gas (the “GHG”) verification from Underwriters Laboratories Inc. (“UL”).

With the increasing problems on global environment, the society has higher requirements for environmental protection. In particular, the Chinese government has issued a number of environmental protection policies in recent years, vigorously promoting enterprises to reduce damage on environment during production. As a well-established supplier of custom cable assemblies, Time Interconnect has always attached great importance to the protection of natural resources and the environment, and has actively implemented a series of environmental protection measures to achieve sustainable development, including low energy consumption, recycling, solar energy, electricity reduction and etc.

As a globally-recognized supplier of high-quality wires and cables, Linkz Ind (Suzhou), a wholly-owned subsidiary of the Group, is also committed to the implementation of sustainable development throughout its supply chain, so as to ensure that the company can largely propect the environment and reduce the loss of resources while developing the company’s business. This time, Linkz Ind (Suzhou) has commissioned UL, one of the world’s leading safety science companies, to verify the GHG declaration of Linkz Ind (Suzhou) according to ISO14064-3:2019 GHG specification, and confirmed that the GHG emission of Linkz Ind (Suzhou) meets standard. This fully reflects Linkz Ind (Suzhou)’s unremitting efforts in strengthening environmental protection.

Mr. Lo Chung Wai, Chairman of TIME Interconnect, said, “We always believed that the development of enterprises and the protection of environment are complementary and coexisting. Therefore, Our Group has always attached great importance to corporate social responsibility, especially in environmental protection. We are very honored that Linkz Ind (Suzhou) can be recognized as the first wire and cable company in Asia to receive the GHG verification from UL. Moving forward, we will continue to implement proactive measures that minimize any negative impacts on the environment and which accelerate the process of reaching our goals of sustainable development.”

About TIME Interconnect Technology Limited
TIME Interconnect Technology Limited is a well-established supplier of custom cable assemblies with more than 20 years of experience in the cable assembly industry. The Group primarily manufactures and supplies a wide variety of copper and optical fibre cable assemblies which are produced in accordance with the specifications and designs of individual customer. The products of the Group are used by a number of established PRC and international customers in a variety of market sectors including 5G telecommunications, data centre, industrial and medical equipment.

TIME Interconnect Fights Against COVID-19 with Public and Resumes Work Smoothly

TIME Interconnect Technology Limited (“TIME Interconnect”, Stock Code: 1729.HK, with its subsidiaries collectively referred to as the “Group”) is pleased to announce that its wholly-owned subsidiary TIME Interconnect Technology (Huizhou) Limited has gradually resumed production in early February, and the Company’s work resumption rate has reached 100%. The Group actively fulfilled its corporate social responsibility and spared no effort in the prevention and control of the COVID-19. In order to ensure Company’s safe operation during the outbreak of the epidemic, TIME Interconnect Technology (Huizhou) Limited has actively responded to central government’s call, supported the work of local government, and strictly implemented the prevention and control measures in accordance with the requirement of the local government, so as to ensure the health, safety and smooth work of the Group’s employees.

Mr. Zhou Yinfa, Deputy General Manager of TIME Interconnect Technology (Huizhou) Limited, said, “Since the outbreak of the COVID-19, the Company’s management has attached great importance to the work of anti-epidemic and immediately set up a leading group that is responsible for the work. The Company quickly organized staff to carry out the tracking of employee’s itinerary, and completed the investigation of the whole factory’s personnel itinerary on January 23.” At the same time, the Company also set up 35 isolation rooms for the isolation and observation of the returned employees outside Huizhou City. It also strictly implemented the entry management of the factory, regularly disinfected the public areas in the factory, and require the staff to dine in batches in the canteen so as to ensure the safety of dining environment. As an anti-epidemic pioneer, the Company work hard to make sure its employees to work in a safe environment.

TIME Interconnect Technology (Huizhou) Limited is a highly demand enterprise for the production of anti-epidemic products, and it is the key supplier of the raw materials for medical diagnosis equipment. Being well aware of its important role in the prevention and control of COVID-19, the Group has fully supported the Chinese government and coordinated all resources to resume the Company’s production as soon as possible. It has enhanced its production capacity and ensured the operation of the production lines of diagnostic equipment can resume quickly and smoothly, so as to meet the supply of raw materials for medical diagnostic equipment and make greatest contribution to the society and the whole country.

Mr. Lo Chung Wai Paul, Chairman of TIME Interconnect, said, “As a reputable supplier of customised cable assemblies for medical equipment, TIME Interconnect has always attached great importance to corporate social responsibility. The Group pays attention to the health of every employee as well as all citizens in China. In the face of the epidemic, we will do our best to support the Chinese government in the prevention and control of the epidemic. The Group will take all effective measures to make sure that employees can work in a safe environment. On the premise of employee and public health, we will accelerate the operation of raw material production lines for medical diagnosis equipment, increase equipment supply and fully support the government and front-line personnel. We believe that as long as we work together to fight against the epidemic, it will pass soon. The Group will do its best to provide customers with high-quality products and services while preventing the epidemic.”

About TIME Interconnect Technology Limited
TIME Interconnect Technology Limited is a well-established supplier of custom cable assemblies with more than 20 years of experience in the cable assembly industry. The Group primarily manufactures and supplies a wide variety of copper and optical fibre cable assemblies which are produced in accordance with the specifications and designs of individual customer. The products of the Group are used by a number of established PRC and international customers in a variety of market sectors including 5G telecommunications, data centre, industrial and medical equipment.