According to the Zhitong Finance App, IDT INT'L (00167) issued an announcement. As previously announced, after effective negotiations with potential customers and suppliers, the Group has begun basic work to resume operations and has resumed sales of “Oregon Scientific” brand fashion electronic products. Although the COVID-19 outbreak had an adverse impact on the Group's operations, it also provided an opportunity for the Group to re-examine its sales channels. To raise market awareness of the “Oregon Scientific” brand and promote and present products to the retail market, the company is pleased to announce the following recent results:

1. Develop and start operating our own online retail platform (to provide products to the global retail market;

2. Open an online shop at Noon (an online platform headquartered in Dubai) to enable the Group to supply products to the Middle East market; and

3. Open an online store on MercadoLibre (Latin America's largest online platform) to enable the Group to supply products to the Latin American market.

In order to further expand the Group's business and meet the growing needs of retail customers, the Group will also strive to enrich its differentiated product portfolio, increase market share, and obtain better economic benefits. According to the unaudited management accounts for the first quarter of 2024, the Group's unaudited revenue (mainly from the sale of fashion electronics products) was approximately HK$12 million.

Looking ahead, the Group has received orders in excess of HK$40 million, which are expected to be completed and delivered in the next quarter. Specifically, orders over HK$5 million were successfully delivered in April 2024. Management believes that this positive momentum reflects an upward trend in sales and highlights the Group's ability to effectively meet customer needs, laying the foundation for the company's good performance in the next few months and throughout 2024.

The Group will continue to review its current business and expansion opportunities from time to time to enhance the Group's business operations in order to expand revenue streams and provide better returns to its shareholders.

Furthermore, trading of the company's shares continues to be suspended.