Sanyou launches new European offices for global business

In May 2023, following the CIC Boston branch in US, Sanyou opens new offices in The Shard London and CIC Rotterdam respectively, to rapidly promote the globalization of business landscape.

Headquartered in Shanghai China, Sanyou Biopharmaceuticals Co., Ltd. is a world-leading national high-tech biotechnology enterprise focusing on R&D and services of innovative biological drugs. The company is committed to solving the unresolved core challenges in the R&D and industrialization of innovative biological drugs, and realizing the mission of "to make it easy to discover innovative biological drugs anywhere". At present, Sanyou has established a world-leading core technology platform for integrated R&D and preclinical development of innovative biological drugs, and possesses a world-class "super-trillion innovative-drug lead molecule library". Relying on "super-trillion, integration, and intelligence", the three industry-leading major innovative drug R&D technology platforms, Sanyou is very competitive to provide one-stop service in preclinical integrated R&D process.

By the end of 2022, Sanyou had established a team of nearly 300 innovative biopharmaceutical R&D experts and built an innovative drug R&D laboratory with an area of more than 20,000 square meters at the international leading level. The company have penetrated in the market through its "4C" business service (differentiated CRO, integrated CDO, collaborative CPO, and characteristic CRS). Sanyou has established business partnerships with more than 600 pharmaceutical companies, drug R&D institutions, and diagnostic reagent and product development companies worldwide. Its business network covers China, US, Europe, and other areas in the world.

The Shard is one of London's famous landmarks. It is located in the heart of urban transport system and is a gathering place for London's businesses with world-class office facilities. Sanyou will take advantage of The Shard's excellent connectivity to maintain close contact with overseas customers and deliver its high-quality services to clients.

The Dutch CIC is a branch of the Cambridge Innovation Center (CIC) in the Netherlands, which is located in Rotterdam, the second largest city in the Netherlands. Rotterdam is an important port connecting Europe, America, Asia, Africa, and Australia, known as the "Gateway to Europe". The settlement in CIC Rotterdam will help Sanyou to further utilize the local and nearby resources to provide more convenient and high-quality biopharmaceutical-related services for oversea customers.

With an international product and marketing team of dozens of experts, a global business network layout, a strong new drug R&D platform, and a complete business service system, Sanyou will maximize the role of the marketing networks in China, the US, and Europe, and continue to promote the breakthrough development of global business landscape and move forward to become an innovative drug R&D service provider with global influence!

Filipino small business tops Asia-Pacific 2023 growth

Nearly nine-in-10 Filipino small businesses expect to grow this year, with technology investment driving momentum. That's according to a new survey by one of the world's largest professional accounting bodies.

CPA Australia's Asia-Pacific Small Business Survey collected views from 4,280 small businesses in 11 Asia-Pacific markets, including 306 from the Philippines. Filipino businesses outranked all markets for growth expectations for the second consecutive year.

Three quarters of Filipino small businesses grew in 2022, an increase of 10 percentage points from 2021. A robust economy contributed to 89 per cent predicting growth this year. This optimism is reflected in plans to hire more staff this year (58 per cent).

"Due to increasing domestic demand and a speedy recovery in the services sector, particularly in tourism, many Filipino small businesses expanded solidly. They continue to be one of the most dynamic in the Asia-Pacific region," said CPA Australia's Regional Manager for Emerging Markets Mr Nicklaus Wee.

A strong focus on maintaining customer relationships and using social media contributed to growth. Forty-four per cent nominated customer loyalty as a positive factor. Over 90 per cent used social media for business purposes, including promoting to potential customers (65 per cent) and selling products or services (59 per cent).

Filipino small businesses' ability to identify the right technologies to invest in and profit from further strengthened their competitiveness. Seven-in-10 said their investments last year had improved profitability, strongly surpassing the survey average of 55 per cent.

"The COVID pandemic has fundamentally changed consumer behaviour. The survey shows that Filipino small businesses are adopting a more customer-oriented approach, including increasing their interaction with potential customers. Using customer feedback allows them to swiftly identify the best options, including technological solutions to meet customers' needs" Wee explained.

Nevertheless, increasing costs and difficulties accessing external funds may hamper financial returns and development plans. Four-in-10 said increased costs were negatively affecting their businesses, the highest result in all surveyed markets. The cost of materials (42 per cent) ranked as the cost most felt by local businesses, followed by fuel (38 per cent) and utilities (36 per cent).

Despite over three-fifths requiring external funds last year, only 25 per cent said they found it easy to access finance. This was the lowest result of the surveyed markets. Seventy-eight per cent expect to seek finance this year, mainly for growth, but only 23 per cent foresee this process to be easy.

"Many Filipino micro, small and medium-sized enterprises (MSMEs) are suffering from soaring costs. To combat high inflation, the central bank increased interest rates, which made financing conditions more challenging for MSMEs.

"The Filipino Government has several loan programs to enhance financial inclusion, such as the Pondo sa Pagbabago at Pag-asenso (P3) and KAYA loans. The percentage of small businesses that borrowed from banks, non-financial institutions and investors last year significantly increased from 2021.

"While the Bangko Sentral ng Pilipinas (BSP) is forecasting that inflation will begin to ease this year, small businesses continue to face a challenging period. To help them manage through this economic transition, Filipino small businesses should consider seeking professional advice. Their trusted accountant may help them better understand financing conditions, improve cash flow and diversify financing sources.

"More than a third (34 per cent) monitored their energy and water use and 24 per cent spent time and resources on supply chain sustainability. Small businesses should increase their focus on reducing energy costs and optimising supply chains from sourcing to production. This will help reduce energy cost volatility as they strive for sustainable expansion."

Fifty-three per cent expect overseas sales to grow this year. "With the Regional Comprehensive Economic Partnership (RCEP) Agreement taking effect in June, it will bring more opportunities for small businesses to tap into overseas markets."

CPA Australia is one of the largest professional accounting bodies in the world, with more than 172,000 members in over 100 countries and regions, including nearly 2,000 members in South Asia. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes.

Upcoming Binance Listings for Consideration In 2023

Binance, the largest cryptocurrency exchange globally, enables investors to discover new and exciting blockchain startups. In this article, we explore some of the potentially best upcoming Binance listings to invest in 2023.

The Top Potential New Binance Listings to Invest in Right Now

Here are the top cryptocurrencies that could be among the next Binance listings in 2023:

AiDoge - New AI-Based Meme-Generation Platform Currently in Presale, $5m Raised so Far. AiDoge is a brand new crypto project that combines two of the hottest trends in the market - memes and artificial intelligence. It allows users to create unique and engaging memes with AI-powered tools. Users provide text prompts, and the tool will generate memes within seconds.

$SPONGE - Red Hot New Meme Coin Outperfoming Pepe Since Launch. $SPONGE is a brand new meme coin that can claim to be the hottest token in the whole crypto world since it launched in early May.

yPredict - AI and Machine Learning Ecosystem Built for Traders and Data Scientists. yPredict seeks to unlock the power of AI for trading analysis and this new platform is designed to analyze market data, and generate predictions for cryptocurrencies. This way, yPredict allows users to make informed decisions on their crypto trading positions.

Ecoterra - Innovative Recycle-to-Earn App With Attractive Rewards. Ecoterra is a newly launched presale project focusing on sustainability that encourages users to take eco-friendly steps by rewarding them with cryptocurrencies. To facilitate this, the project has developed a new digital token, ECOTERRA.

Deelance - Blockchain-Based Ecosystem for the Gig Economy. There is increasing demand for freelancing jobs globally and Deelance is building a revolutionary platform to capitalize on this sector. The platform will make it easy for freelancers to connect with clients. Crucially, the platform will integrate Web3 elements, including NFTs and a metaverse.

Launchpad XYZ - One-Stop-Shop for Web3 Products and Investment Tools. Launchpad XYZ is another new crypto project that fosters innovation and collaboration in the Web3 space. The project is building a full-fledged portal for Web3 enthusiasts. It also offers easy access to Web3 services and products, such as NFTs, DeFi tokens, and metaverses.

Tamadoge - Play-to-Earn Gaming Arcade Featuring Doge-Inspired NFTs. Tamadoge was founded in mid-2022 and aims to dominate the play-to-earn gaming space. The project has built a blockchain-backed ecosystem focused on virtual pets. Players will have their own unique pet with varying traits, randomly generated as an NFT. This means that players own their virtual pets.

Sui - New PoS-Powered Layer 1 Blockchain Network. Sui is a new cryptocurrency released on Binance in 2023. The project has developed a layer 1 blockchain, and its much-anticipated mainnet launch has just taken place.

​​Keeping an eye on upcoming Binance listings can yield lucrative opportunities for investors. We have discussed a selection of innovative projects that could be the best new crypto on Binance this year. In this regard, we particularly like AiDoge. This new startup has built an AI-backed meme generation tool that functions on text prompts. Users need the project’s native token, $AI, to create memes. $AI tokens are currently being sold to early investors at a discount, with over $4.3 million already raised in just two weeks since it launched. Visit the AiDoge presale website to secure an attractive entry price today. $SPONGE is another high-potential meme coin that still has been one of the hottest coins on the market since launch but still has huge room to grow in the coming weeks.

DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. Investing in cryptocurrencies is highly risky the value of cryptocurrencies can be extremely volatile and may be subject to significant price fluctuations over short periods of time. There is no guarantee of a return on investment, and any potential investor should carefully consider the risks before investing. It is also important to remember that cryptocurrencies are not tangible assets. They are digital currencies, and there is no guarantee that they will retain their value over time. Due to their decentralized nature, they can be manipulated, and their value can be affected by changes in the global economy. We cannot accept any responsibility for any losses incurred due to investing in cryptocurrencies. We disclaim all liability for any losses or issues that may arise from any recommendation given by us.

Natura &Co posts constant currency sales growth and profitability

Natura &Co (NYSE – NTCO; B3 – NTCO3) posted a resilient performance in the first quarter of 2023, with sales growth in constant currency and an improvement in profit margins.

Natura &Co posted Q1 consolidated net revenue of R$ 8 billion, up 3.4% at constant currency (-2.8% in BRL), driven by solid constant currency (CC) growth at Natura &Co Latam and Aesop. Gross margin was 67.7%, up 370 bps vs Q1-22, and adjusted EBITDA margin was 10.5%, up 330 bps vs the same period last year, reflecting improving margins at Natura &Co Latam and Avon International and a 36% drop in Holding expenses. Net income was R$ (652.4) million, a sequential improvement vs the previous quarter and broadly in line with last year's R$ (643.2) million in the period. The Group ended the quarter with a solid cash position of R$ 4 billion.

Fabio Barbosa, Group CEO of Natura &Co, declared: "Natura &Co's performance in the first quarter is in line with our plan and with our previous communication, as Q1 numbers show a solid improvement both in gross and adjusted EBITDA margin, while the company continues to put in action important structural changes in its portfolio, focusing on simplifying its structure and improving its capital structure.

Excluding Aesop, Q1-23 showed a strong profitability improvement, mainly driven by gross margin expansion across all business units and continuous cost control, that were partially offset by sales deleverage at The Body Shop, Avon Latam and, to a lesser extent, Avon International. This quarter's gross margin expansion is driven by price increase carry-over and more favorable mix, more than offsetting the inflationary environment we continue to experience. As per the normal seasonality of the business, cash consumption in Q1 was high, as planned, and working capital management was impacted by build-up of inventories for Q2 and changes related to the continued integration of the Natura and Avon brands in Latam. From a revenue standpoint, the highlight remains the Natura brand, which continued its strong momentum from last year, with Natura Brazil sales growing 25%, led by volume and strong productivity growth.

Shortly after the close of the quarter, Natura & Co announced important milestones, which are transformational for the future of the group. First, the group announced it has entered into a binding agreement to sell Aesop to L'Oréal for an enterprise value of US$2.525 billion (subject to customary regulatory approvals). Furthermore, in April we had our first day of full integration of Natura and Avon in Peru as part of Wave 2, with sales forces completely integrated and sharing the same experience. Finally, The Body Shop announced it was entering its next chapter, with Ian Bickley taking over as interim chief executive after David Boynton stepped down.

Our triple bottom line agenda also showed important advances, with significant improvements in the share of renewable or natural ingredients and of biodegradable formulas. Natura &Co also released its third pay equity report, showing we maintained our target of equal representation, with 52.7% of women in leadership roles -Director and above- across the organization.

While 2023 continues to shape up as another challenging year, our strategic priorities are clear and, the first results give us confidence that we are on the right track. We believe that massively reducing the company's net debt, combined with stronger EBITDA margins resulting from the businesses' operational improvement, alongside our relentless focus on cash conversion, will pave the way for strong cash generation in the coming years, allowing us to make disciplined investments in our business priorities and unlocking value for our shareholders."

Performance by business unit:

Natura &Co Latam's net sales were up by 9% in constant currency ("CC) and up 2.4% in BRL. CC growth was driven by double-digit growth at the Natura brand, which grew by 25.1%, while the Avon brand was down 9.8% at CC. The Natura brand posted strong momentum, with growth of 24.9% in Brazil, supported by price increases and better mix, as well as 20.4% growth in consultant productivity in Q1. In Hispanic Latam, net revenue was up 25.5% at constant currency despite a challenging situation in several countries, driven by Argentina and Colombia. The Avon brand in Brazil was broadly stable vs the same period last year (-0.6%) in Q1. The Beauty segment continued to grow, with sales up +5.6%, while Fashion and Home (F&H) was down 18%, in line with our portfolio optimization strategy. In Hispanic markets, net revenue was down 14.8% at CC (-22% in BRL). Performance was good in Argentina, but impacted by a decrease in Mexico and Chile. The Beauty category was broadly stable in constant currency, while beauty productivity per representative is up more than 20% year-on-year. Adjusted EBITDA margin was up by a solid 400 basis points to 13%. Margin benefited from strong gross margin improvement and SG&A efficiencies by the Avon brand in Brazil, even as the Natura brand continued to invest in marketing and innovation.

Avon International's revenue was down 7.5% at CC (-12.8% in Reais.) This drop continues to reflect the situation in Ukraine; excluding that, CC sales were down 4%. The TMEA region showed year-on-year growth, while Western Europe posted a slightly better performance. Digitalization is progressing and the use of digital tools reached 30.4%, up from 21.9% in the first quarter last year. Adjusted EBITDA margin was 6.1%, up 170bps, driven by gross margin expansion of 480 bps thanks to price increases and product mix, combined with continued focus on transformation savings.

The Body Shop's Q1 net revenue declined by 9.4% at constant currency (-16.5% in BRL.) The tough macro environment, particularly in the UK and the rest of Western Europe, continued to impact retail sales, while The Body Shop at Home continued its steep decline. Adjusted EBITDA margin was 6.1%, down only 30 bps year-on-year, thanks to a return to positive territory of gross margin, up 50 bps to 78.6%, combined with strict cost control. efficiency gains. Under the new CEO, management will be working to refine The Body Shop's current business plan and transformation agenda, while continuing to prioritize profitability and cash conversion recovery.

Aesop again recorded another quarter of double-digit growth in constant currency, up 16.8% (+9.2% in BRL). All regions delivered double-digit growth despite the challenging environment. Fragrance sales grew at more than twice the overall pace, aligned with Aesop's category diversification strategy. Q1 adjusted EBITDA margin was 18.5%, down 320 bps, mainly reflecting planned investments to deliver sustainable growth. Following the announcement of its sale to L'Oréal, whose closing is expected in the third quarter, Aesop has been classified as Discontinued operations.

About Natura &Co

Natura &Co is a global, purpose-driven, multi-channel and multi-brand cosmetics group which includes Avon, Natura, The Body Shop and Aesop. Natura &Co posted net revenues of R$36.3 billion in 2022. The four companies that form the group are committed to generating positive economic, social and environmental impact. For 136 years Avon has stood for women: providing innovative, quality beauty products which are primarily sold to women, through women. Founded in 1969, Natura is a Brazilian multinational in the cosmetics and personal care segment, leader in direct sales. Founded in 1976 in Brighton, England, by Anita Roddick, The Body Shop is a global beauty brand that seeks to make a positive difference in the world. The Australian beauty brand Aesop was established in 1987 with a quest to create a range of superlative products for skin, hair and the body.