Vivic Corp. Announces Strong Preliminary Revenues for The First Half of 2024
Vivic Corp. (OTCQB: VIVC), a leading provider of luxury yacht access, reported strong preliminary revenues exceeding $4.4 million for the first half of 2024. The company, which focused on luxury yacht sales in 2023, expects even stronger performance in the second half of 2024. Vivic is the exclusive distributor of Monte-Fino yachts in Asia and the Middle East, with non-exclusive distribution rights in other territories.
CEO Shang-Chiai Kung noted that sales growth exceeded expectations, attributing this to charter yacht operators' reliance on Vivic. The company's global headquarters is in Taiwan, strategically positioned for quick access to leading yacht builders. Vivic anticipates continued growth, with projections subject to revision based on current business conditions.
Vivic Corp. (OTCQB: VIVC), un fornitore leader nell'accesso a yacht di lusso, ha riportato forti ricavi preliminari superiori a 4,4 milioni di dollari per il primo semestre del 2024. L'azienda, che ha concentrato la sua attenzione sulle vendite di yacht di lusso nel 2023, prevede prestazioni ancora più forti nella seconda metà del 2024. Vivic è il distributore esclusivo di yacht Monte-Fino in Asia e Medio Oriente, con diritti di distribuzione non esclusivi in altre aree.
Il CEO Shang-Chiai Kung ha sottolineato che la crescita delle vendite ha superato le aspettative, attribuendo questo risultato all'affidamento degli operatori di yacht a noleggio a Vivic. La sede centrale globale dell'azienda si trova a Taiwan, strategicamente posizionata per un rapido accesso ai principali costruttori di yacht. Vivic prevede una crescita continua, con proiezioni soggette a revisione in base alle attuali condizioni di mercato.
Vivic Corp. (OTCQB: VIVC), un proveedor líder de acceso a yates de lujo, informó fuertes ingresos preliminares que superan los 4.4 millones de dólares para el primer semestre de 2024. La empresa, que se centró en la venta de yates de lujo en 2023, espera un rendimiento aún más robusto en la segunda mitad de 2024. Vivic es el distribuidor exclusivo de yates Monte-Fino en Asia y Oriente Medio, con derechos de distribución no exclusivos en otros territorios.
El CEO Shang-Chiai Kung señaló que el crecimiento de las ventas superó las expectativas, atribuyendo esto a la dependencia de los operadores de yates chárter en Vivic. La sede global de la compañía se encuentra en Taiwán, estratégicamente ubicada para un acceso rápido a los principales constructores de yates. Vivic anticipa un crecimiento continuo, con proyecciones sujetas a revisión según las condiciones comerciales actuales.
비빅 법인 (OTCQB: VIVC)은 고급 요트 접근의 주요 제공업체로서, 2024년 상반기 440만 달러를 초과하는 강력한 예비 수익을 보고했습니다. 2023년 고급 요트 판매에 집중한 이 회사는 2024년 하반기에 더 강력한 성과를 기대하고 있습니다. 비빅은 아시아와 중동에서 몬테-피노 요트의 독점 배급업체이며, 다른 지역에서는 비독점 배급 권리를 보유하고 있습니다.
CEO 상차이카이 쿵은 판매 성장률이 기대를 초과했다고 언급하며, 이는 챠터 요트 운영자들이 비빅에 의존하기 때문이라고 설명했습니다. 회사의 글로벌 본사는 대만에 위치하고 있으며, 주요 요트 제조업체에 빠르게 접근할 수 있는 전략적 지점입니다. 비빅은 지속적인 성장을 기대하고 있으며, 현재의 사업 여건에 따라 수정될 수 있는 전망을 가지고 있습니다.
Vivic Corp. (OTCQB: VIVC), un fournisseur leader d'accès à des yachts de luxe, a annoncé des revenus préliminaires solides dépassant 4,4 millions de dollars pour le premier semestre 2024. L'entreprise, qui s'est concentrée sur la vente de yachts de luxe en 2023, prévoit des performances encore plus fortes pour la seconde moitié de 2024. Vivic est le distributeur exclusif des yachts Monte-Fino en Asie et au Moyen-Orient, avec des droits de distribution non exclusifs dans d'autres régions.
Le PDG Shang-Chiai Kung a noté que la croissance des ventes a dépassé les attentes, attribuant cela à la dépendance des opérateurs de yachts de charter à Vivic. Le siège mondial de l'entreprise est situé à Taïwan, stratégiquement positionné pour un accès rapide aux principaux fabricants de yachts. Vivic s'attend à une croissance continue, avec des projections pouvant être révisées en fonction des conditions commerciales actuelles.
Vivic Corp. (OTCQB: VIVC), ein führender Anbieter von Luxus-Yachtzugängen, berichtete von starken vorläufigen Einnahmen von über 4,4 Millionen Dollar für das erste Halbjahr 2024. Das Unternehmen, das sich 2023 auf den Verkauf von Luxus-Yachten konzentrierte, erwartet in der zweiten Hälfte von 2024 eine noch stärkere Leistungssteigerung. Vivic ist der exklusive Vertriebspartner für Monte-Fino-Yachten in Asien und dem Nahen Osten, mit nicht-exklusiven Vertriebsrechten in anderen Regionen.
CEO Shang-Chiai Kung bemerkte, dass das Umsatzwachstum die Erwartungen übertroffen hat und führte dies auf die Abhängigkeit der Charter-Yacht-Betreiber von Vivic zurück. Der Hauptsitz des Unternehmens befindet sich strategisch in Taiwan, um schnellen Zugang zu führenden Yachtbauern zu gewährleisten. Vivic erwartet ein fortgesetztes Wachstum, wobei die Prognosen aufgrund der aktuellen Geschäftslage angepasst werden können.
- Revenues exceeded $4.4 million for the first half of 2024
- Expects stronger performance in the second half of 2024
- Exclusive distributor of Monte-Fino yachts in Asia and the Middle East
- Sales growth better than anticipated
- Strategic headquarters location in Taiwan for quick access to yacht builders
- No comparative revenue data available for the same period in 2023
- Projections are subject to revision, indicating potential uncertainty
An Emerging Leader in the Global Pleasure Boat Industry
Las Vegas, Nevada--(Newsfile Corp. - September 11, 2024) - Vivic Corp. (OTCQB: VIVC) (the "Company", "we" or "VIVC"), which previously initiated operations in several business areas related to the pleasure boat industry before focusing on the sale of luxury yachts in 2023, today reported financial results for the six-month period ended June 30, 2024. The Company's revenue for the first half of 2024 was in excess of
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The Company expects second-half performance to be stronger than the first half, slightly weighted towards the fourth quarter, as it continues to expand its marketing efforts.
Vivic is a leading global provider of access to luxury yachts. The Company is focused on yacht sales worldwide from its headquarters in Taiwan which enables it to have quick access to leading yacht builders. The Company is the exclusive distributor of Monte-Fino yachts in Asia and the Middle East and is the non-exclusive distributor in other territories for which Monte-Fino has not appointed an exclusive distributor. Monte Fino is a well-known brand owned by Taiwan Kha Shing Yacht Company, one of the world's leading yacht manufacturers.
President and CEO Shang-Chiai Kung commented, "We delivered a solid second quarter and first half of 2024 as charter yacht operators across the globe continue to rely on Vivic to support their operations. Sales growth was better than anticipated. The fundamentals supporting Vivic's growth remain strong, and we expect the second half of the year to be even stronger as our operations gain traction in our markets worldwide."
The Company's global headquarters is located in Taiwan with regional operations engaged in yacht procurement, sales, and leasing services in Taiwan and other nearby countries.
The financial results announced today reflect the Company's performance through the first half of 2024. Projections as to future performance are management's estimates based upon the state of the business as of today and are subject to revision. Results for the third quarter and nine-month periods ended September 30, 2024 will be publicly reported when the company files its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission.
About Vivic Corp.
Vivic Corp. is a distinguished company in the yacht industry, bringing unparalleled value and experiences to clients through innovative technology, product diversity, global presence, professionalism, and a commitment to sustainable development. We continuously explore the latest technological solutions to enhance yacht performance, safety, and comfort; offer a diverse product line to meet the needs and preferences of an array of clients. We have established a broad market and service network worldwide, providing comprehensive pre-sales and after-sales services; and employ a professional, dedicated, and experienced team to deliver high-quality products and services. Additionally, we emphasize environmental protection and social responsibility, striving for sustainable development. As a leader and pioneer in the yacht industry, we will continue to work hard to bring even better and more outstanding products and services to our customers. The company's main businesses include: Independent design, development, and sales of the "VIVIC" series of operational yachts mainly targeting domestic and foreign yacht clubs and water cultural tourism operators, with sales of mass-produced yachts including several models such as VV1 (40 feet), VV2 (46 feet), and V55 (55 feet). The company continues to independently design, develop, and manufacture all-electric and traditional power yachts through its own and subcontracted factories. Our products include leisure yachts, sea fishing yachts, diving function yachts, party function catamarans, large sailboats, and more, with maintenance and repair services available to our customers. The Company acts as sales agent for other luxury yacht brands and holds exclusive agency rights for the "MONTE FINO" series of luxury yachts from Kha Shing Enterprises in regions outside Taiwan and the United States, selling luxury yachts ranging from 45 to 130 feet. For more information, please visit www.vivicyacht.com.
Forward-Looking Statements and Non-GAAP financial measures
Statements in this news release concerning economic outlook, expected revenue, expected margins, expected savings, expected results, expected expenses, orders, deliveries, financial position, as well as any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements.
Forward-looking statements include statements as to demand for the Company's products and the impact of geopolitical conditions, including any related international trade restrictions. These factors include uncertainties as to the ability to record revenues based upon the timing of product deliveries, changes in economic conditions, and other risks, including those described in the Company's filings with the Securities and Exchange Commission (SEC), press releases, and other communications.
Non-GAAP financial measures, such as EBITDA and Adjusted EBITDA, should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. We believe that these non-GAAP financial measures may provide meaningful supplemental information regarding the Company's results and facilitate the comparison of results.
Investor Relations Contact:
Darrow Associates
Jordan Darrow
631-766-4528
jdarrow@darrowir.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223032
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