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URUMQI, China, Sept. 28, 2024 /PRNewswire/ -- Chanson International Holding (Nasdaq: CHSN) (the "Company" or "Chanson"), a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States, today announced its unaudited financial results for the six months ended June 30, 2024. Mr. Gang Li, Chairman of the Board of Directors and Chief Executive Officer of the Company, commented, "In the first half of fiscal year 2024, despite facing various challenges, we have shown resilience and adaptability in a dynamic market. While we experienced a slight decline in revenue, we have successfully maintained our gross margins at above 40%, by enforcing cost control measures and enhancing operating efficiency. Additionally, with an increased cash reserve as of June 30, 2024, we are in a solid position to manage market uncertainties. As we move forward, we remain confident in our long-term growth strategy and execution capabilities. Our expansion initiatives in both the United States and China are expected to remain a key focus of our growth. We aim to drive revenue by attracting new customers and encouraging repeat business from existing ones. Specifically, this is expected to be achieved by strengthening opportunistic purchasing, optimizing inventory management, maintaining strong store conditions, and effectively marketing both current and new product offerings. We believe that with all those efforts in place, we will navigate short-term headwinds and return to long-term growth in the near future." First Half of Fiscal Year 2024 Financial Summary Total revenue was $7.5 million, compared to $8.8 million for the same period of last year. Gross profit was $3.1 million, compared to $4.3 million for the same period of last year. Gross margin was 41.5%, compared to 49.2% for the same period of last year. Net income was $0.02 million, compared to $0.3 million for the same period of last year. Basic and diluted earnings per share were $0.002, compared to $0.027 for the same period of last year. First Half of Fiscal Year 2024 Financial Results Revenue Total revenue was $7.5 million for the six months ended June 30, 2024, which decreased by 14.4%, from $8.8 million for the same period of last year. The decrease in revenue was due to decreased revenue from both the stores in China (the "China Stores") and the stores in the United States (the "United States Stores"). China Stores Revenue from the China Stores was $6.5 million for the six months ended June 30, 2024, which decreased by or 7.3%, from $7.0 million for the same period of last year. The decrease was mainly due to the decreased revenue from bakery products as well as from other products. Revenue from bakery products was $5.9 million for the six months ended June 30, 2024, which decreased by 7.3%, from $6.4 million for the same period of last year. The post-COVID-19 economy in China has recovered at a slower pace than expected, and the spending behavior of consumers has been affected by various factors, such as the economic downward pressure and lack of consumer confidence. As a result, revenue from bakery products decreased due to the decline in average spending per customer and the consumption downgrade during the six months ended June 30, 2024. Revenue from other products was $0.58 million for the six months ended June 30, 2024, which decreased by 7.0%, from $0.62 million for the same period of last year. The decrease was mainly due to decreased revenue from seasonal products, which was partially offset by increased revenue from beverage products. Revenue from seasonal products was $0.36 million for the six months ended June 30, 2024, which decreased by 16.4% from $0.44 million for the same period of last year. The decrease was due to the consumption downgrade as mentioned above. The average spending per customer declined because customers preferred lower-priced seasonal products during the six months ended June 30, 2024. Revenue from beverage products was $0.22 million for the six months ended June 30, 2024, an increase by 14.8% from $0.19 million for the same period of last year, mainly due to increased revenue from freshly brewed coffee products, as the China Stores are focusing on expanding the business of coffee beverages and more coffee bakery stores were opened in the six months ended June 30, 2024. United States Stores Revenue from the U.S. Stores was $1.0 million for the six months ended June 30, 2024, which decreased by 42.2% from $1.8 million for the same period of last year. The decrease was mainly due to decreased revenue from beverage products and eat-in services, which was partially offset by the slightly increased revenue from bakery products. Revenue from bakery products remained relatively stable at $0.24 million for the six months ended June 30, 2024, with a slight increase by 2.6% from $0.23 million for the same period of last year. The increase was due to the increased revenue from bakery products of approximately $0.1 million, generated by Chanson 3rd Ave and Chanson Broadway. The increase in revenue from bakery products was partially offset by the decreased revenue from Chanson Greenwich of approximately $0.09 million. Many famous bakery brands have opened new stores in New York City, customers now have more choices and revenue from bakery products of Chanson 23rd Street and Chanson Greenwich were affected. With the increased competition, Chanson Greenwich closed its business operation in the second half of fiscal year 2023. Revenue from beverage products was $0.6 million for the six months ended June 30, 2024, which decreased by 37.2% from $1.0 million for the same period of last year, primarily due to the closure of Chanson Greenwich as mentioned above. The decrease was also attributable to increased competition from rivals operating in the same area. After the cocktail bars of the United States Stores launched several new types of cocktail products with new flavors and styles, such products became popular among customers and the cocktail bars were often fully booked by reservation. However, the rivals operating in the same area also launched many types of attractive cocktail products, so customers currently have more choices, and revenue from beverage products were adversely affected during the six months ended June 30, 2024. Revenue from eat-in services was $0.2 million for the six months ended June 30, 2024, which decreased by 69.7% from $0.6 million for the same period of last year. The decrease was mainly due to the decreased revenue from Chanson Greenwich of approximately $0.4 million as a result of the closure of its business as mentioned above. Moreover, the decrease was due to the slightly decreased revenue from Chanson 23rd Street of approximately $0.01 million, as Chanson 23rd Street adjusted its menu items and customers were adjusting to the new products. The decrease in revenue from eat-in services was partially offset by increased revenue from eat-in services of approximately $0.02 million, generated by Chanson 3rd Ave and Chanson Broadway. Gross Profit and Gross Margin Gross profit was $3.1 million for the six months ended June 30, 2024, which decreased by 27.8% from $4.3 million for the same period of last year. Gross margin was 41.5% for the six months ended June 30, 2024, which decreased by 7.7% points from 49.2% for the same period of last year. Operating Expenses Operating expenses were $3.7 million for the six months ended June 30, 2024, compared to $4.2 million for the same period of last year. Selling expenses were $2.2 million for the six months ended June 30, 2024, which decreased by 8.7%, from $2.4 million for the same period of last year. The decrease was mainly due to decreased selling expenses of approximately $0.2 million incurred by Chanson Greenwich, as Chanson Greenwich was closed in the second half of fiscal year 2023. The decrease in selling expenses was partially offset by increased selling expenses of approximately $0.07 million generated by the Chanson 3rd Ave and Chanson Broadway, the new stores opened in March 2023 and July 2023, respectively. General and administrative expenses were $1.5 million for the six months ended June 30, 2024, which decreased by 17.9% from $1.8 million for the same period of last year. The decrease was primarily due to the closure of Chanson Greenwich as mentioned above. Net Income Net income was $0.02 million for the six months ended June 30, 2024, compared to $0.28 million for the same period of last year. Basic and Diluted Earnings per Share Basic and diluted earnings per share were $0.002 for the six months ended June 30, 2024, compared to $0.027 for the same period of last year. Balance Sheet As of June 30, 2024, the Company had cash of $4.1 million, compared to $1.5 million as of December 31, 2023. Cash Flow Net cash provided by operating activities was $0.8 million for the six months ended June 30, 2024, compared to $0.6 million for the same period of last year. Net cash provided by investing activities was $1.4 million for the six months ended June 30, 2024, compared to net cash used in $11.3 million for the same period of last year. Net cash provided by financing activities was $0.4 million for the six months ended June 30, 2024, compared to $9.7 million for the same period of last year. About Chanson International Holding Founded in 2009, Chanson International Holding is a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States. Headquartered in Urumqi, China, Chanson directly operates stores in Xinjiang, China and New York, United States. Chanson currently manages 46 stores in China, and three stores in New York City while selling on digital platforms and third-party online food ordering platforms. Chanson offers not only packaged bakery products but also made-in-store pastries and eat-in services, serving freshly prepared bakery products and extensive beverage products. Chanson aims to make healthy, nutritious, and ready-to-eat food through advanced facilities based on in-depth industry research, while creating a comfortable and distinguishable store environment for customers. Chanson's dedicated and highly-experienced product development teams constantly create new products that reflect market trends to meet customer demand. For more information, please visit the Company's website: http://ir.chanson-international.net/. Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission. For investor and media inquiries, please contact: Chanson International HoldingInvestor Relations DepartmentEmail: IR@chansoninternational.com Ascent Investor Relations LLCTina XiaoPhone: +1-646-932-7242Email: investors@ascent-ir.com CHANSON INTERNATIONAL HOLDING AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (Audited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 4,107,830 $ 1,481,302 Accounts receivable 2,022,587 1,995,067 Inventories 785,327 723,905 Long term loan to a third-party, current 1,999,507 - Prepaid expenses and other current assets 4,287,721 5,134,173 13,202,972 9,334,447 NON-CURRENT ASSETS: Operating lease right-of-use assets 12,922,888 13,059,561 Property and equipment, net 5,006,112 5,462,063 Intangible assets, net 140,625 150,000 Long term security deposits 843,793 894,715 Prepayment for the software, equipment and product development 140,000 790,000 Long term debt investment 6,359,014 6,534,575 Long term loan to a third-party - 2,066,822 Long term prepaid expenses 108,313 142,113 25,520,745 29,099,849 TOTAL ASSETS $ 38,723,717 $ 38,434,296 LIABILITIES CURRENT LIABILITIES: Short-term bank loans $ 3,086,939 $ 2,683,692 Accounts payable 2,120,980 1,919,189 Due to a related party 46,675 48,042 Taxes payable 77,015 96,176 Deferred revenue 7,338,357 7,085,696 Operating lease liabilities, current 2,448,062 2,198,192 Other current liabilities 620,251 697,702 15,738,279 14,728,689 NON-CURRENT LIABILITIES Operating lease liabilities, non-current 10,931,463 11,691,251 10,931,463 11,691,251 TOTAL LIABILITIES 26,669,742 26,419,940 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY Ordinary shares, $0.001 par value, 50,000,000 shares authorized; 12,425,319 sharesissued and outstanding as of June 30, 2024 and December 31, 2023, respectively: Class A ordinary share, $0.001 par value, 44,000,000 shares authorized; 6,755,319shares and 6,485,319 shares issued and outstanding as of June 30, 2024 andDecember 31, 2023, respectively 6,755 6,485 Class B ordinary share, $0.001 par value, 6,000,000 shares authorized; 5,670,000 and5,940,000 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 5,670 5,940 Additional paid-in capital 11,800,472 11,800,472 Statutory reserve 447,231 447,231 Accumulated deficit (126,842) (150,254) Accumulated other comprehensive loss (79,311) (95,518) TOTAL SHAREHOLDERS' EQUITY 12,053,975 12,014,356 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 38,723,717 $ 38,434,296 CHANSON INTERNATIONAL HOLDING AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Six Months EndedJune 30, 2024 2023 REVENUE $ 7,542,682 $ 8,811,287 COST OF REVENUE 4,415,407 4,478,716 GROSS PROFIT 3,127,275 4,332,571 OPERATING EXPENSES Selling expenses 2,230,905 2,444,292 General and administrative expenses 1,456,499 1,774,419 Total operating expenses 3,687,404 4,218,711 (LOSS) INCOME FROM OPERATIONS (560,129) 113,860 OTHER INCOME (EXPENSE) Interest (expense) income, net (25,278) 14,007 Other income (loss), net 314,670 (11,843) Interest income from long term debt investment 359,014 171,616 Total other income, net 648,406 173,780 PROFIT BEFORE INCOME TAX EXPENSE 88,277 287,640 INCOME TAX EXPENSE (64,865) (2,880) NET INCOME 23,412 284,760 Foreign currency translation gain (loss) 16,207 (305,867) TOTAL COMPREHENSIVE INCOME (LOSS) $ 39,619 $ (21,107) Earnings per ordinary share - basic and diluted $ 0.002 $ 0.027 Weighted average shares - basic and diluted 12,425,319 10,666,906 CHANSON INTERNATIONAL HOLDING AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Six Months EndedJune 30, 2024 2023 Cash flows from operating activities: Net income $ 23,412 $ 284,760 Adjustments to reconcile net income to net cash provided by operating activities: Amortization of operating lease right-of-use assets 1,697,141 1,422,155 Depreciation 445,787 402,784 Impairment loss on property and equipment - 5,434 Accrued interest income from long term debt investment (359,014) (171,616) Interest income from loan to a third-party (44,877) (21,452) Changes in operating assets and liabilities: Accounts receivable (40,507) (772,933) Inventories (65,027) 88,841 Prepaid expenses and other current assets 286,121 73,944 Long term security deposits 49,350 (17,375) Long term prepaid expenses 32,953 21,534 Accounts payable 213,875 216,032 Taxes payable (19,020) (109,830) Deferred revenue 299,816 522,418 Other current liabilities (79,738) 35,633 Operating lease liabilities (1,634,128) (1,370,175) Net cash provided by operating activities 806,144 610,154 Cash flows from investing activities: Purchase of property and equipment (34,268) (152,022) Proceeds from disposal of property and equipment 34,562 - Payment made for long term debt investment - (6,000,000) Interest income received from long term debt investment 534,575 - Advance of loans to third parties - (3,900,000) Repayment from loans to third parties 862,088 - Prepayment for the software, equipment and product development - (1,200,000) Net cash provided by (used in) investing activities 1,396,957 (11,252,022) Cash flows from financing activities: Gross proceeds from initial public offerings - 13,560,000 Direct costs disbursed from initial public offerings proceeds - (1,529,631) Proceeds from short-term bank loans 422,095 - Payments made to a related party (56,298) (1,612,215) Payments made for deferred offering costs - (312,125) Prepayment for the related service after listing - (450,000) Net cash provided by financing activities 365,797 9,656,029 Effect of exchange rate fluctuation on cash and cash equivalents 57,630 (457,647) Net increase (decrease) in cash and cash equivalents 2,626,528 (1,443,486) Cash and cash equivalents, beginning of period 1,481,302 2,915,470 Cash and cash equivalents, end of period $ 4,107,830 $ 1,471,984 Supplemental cash flow information Cash paid for income taxes $ 40,889 $ 9,436 Cash paid for interest $ 68,450 $ 8,364 Non-cash operating, investing and financing activities Reduction of right-of-use assets and operating lease obligations due to early terminationof lease agreement $ 60,277 $ - Right of use assets obtained in exchange for operating lease liabilities $ 1,697,141 $ 1,103,383 Deferred IPO cost offset with additional paid-in capital $ - $ 1,059,521
Updated New York Times' bestseller highlights priority issues for Black Americans that will impact and shape the November 2024 election LOS ANGELES, Sept. 28, 2024 /PRNewswire/ -- Twenty years after sparking a national dialogue on systemic inequality, Tavis Smiley has updated and released The Covenant with Black America. The recently released book, The Covenant with Black America: 20 Years Later, maintains the book's original sense of urgency while weaving in a powerful blend of historical insights and contemporary voices. Initially published in 2004, The Covenant with Black America quickly became a #1 New York Times bestseller by critically addressing the issues facing America's Black community and pushing the nation to confront deep-rooted disparities with extraordinary determination. The Covenant with Black America: 20 Years Later revisits and updates the hard-hitting social commentary of its original version. The new edition intertwines the original essays with powerful new contributions from today's leading voices. Despite notable progress, disparities in health, housing, justice, and economic opportunities continue to impact Black communities disproportionately. "At this critical time in our history, we must confront the forces of extremism and extend the rich tradition of deep democracy in America as we expand justice, equity, and freedom for all," stated Tavis Smiley. "The new edition provocatively covers today's most pressing issues and offers tangible solutions to some of this country's most persistent problems." The book's ten covenants serve as a call to action and a reminder that the path to equality is far from over. Each of the original covenants has been updated with the latest data and analysis, revealing both the progress and the troubling persistence of inequality. "Most importantly, the new edition includes a poignant essay on the alarming rise of homelessness within our community, where Black men have become the predominant face of this epidemic in America," added Smiley. With a fresh foreword by Rev. William J. Barber, II and a special afterword by the esteemed poet Nikki Giovanni, The Covenant with Black America: 20 Years Later is a testament to the enduring spirit of advocacy and a beacon of light and hope for future generations. The book invites us all to partake in the crucial work of reshaping America into a more equitable society, echoing the timeless truth that our collective liberation uplifts our nation. The Covenant with Black America: 20 Years Later is now available at local bookstores and online. For more information about this anniversary edition, please visit Hay House Publishing or contact Matt Klink, matt@klinkcampaigns.com. About Tavis Smiley:Tavis Smiley is a host and managing editor of the nationally syndicated radio program and podcast "Tavis Smiley," which is produced and distributed by SmileyAudioMedia, Inc. Tavis has authored or edited more than 20 books and has received numerous awards for his work championing the causes of equality and justice. In 2024, Smiley received the Presidential Lifetime Achievement Award. In 2023, he received the highest honor in the talk radio industry, the coveted "Freedom of Speech" award, and presently appears on the "Heavy Hundred" list of the "100 Most Important Talk Radio Show Hosts" in America. Since June 2021, Smiley has served as Chief Visionary Officer for his radio station, KBLA Talk 1580, where he continues to lead national conversations on systemic inequality and social justice. ContactMatt Klink(310) 283-6267matt@klinkcampaigns.com
KAZAN, Russia, Sept. 28, 2024 /PRNewswire/ -- The "BRICS Dialogue on Civilizations" event took place in Kazan, Russia, on September 24th, with over 300 participants, including representatives from institutions, experts, scholars, and youth from BRICS countries. “BRICS Dialogue Civilizations” event concludes in Kazan, Russia, on September 24. The event, themed "Gathering the Power of People-to-people and Cultural Exchanges to Build a Bright Future for BRICS", was co-hosted by the State Council Information Office of China, the Government of the Republic of Tatarstan of Russia, and the Consulate-General of China in Kazan. The event was jointly organized by the China Intercontinental Communication Center and Kazan Federal University. Organizers emphasized that exchanges and mutual learning among civilizations are crucial drivers of human progress and world peace. They believe that through this dialogue, BRICS contriess can deepen mutual understanding and traditional friendships, strengthen cultural ties, and inspire more BRICS citizens to become ambassadors for cultural dialogue. They hope BRICS countries will actively support the Global Civilization Initiative, focus on people-to-people connections, and use the "BRICS+" cooperation platform to deepen cultural exchanges and foster new chapters of mutual understanding and friendship. Together, they aim to contribute "BRICS strength" to building a community with a shared future for humanity. Leyla Rinatovna Fazleeva, Deputy Prime Minister of the Republic of Tatarstan of Russia, delivers a speech during the event. In her remarks, Leyla Rinatovna Fazleeva highlighted that under the BRICS cooperation mechanism, cultural exchange and cooperation between BRICS nations have steadily deepened. She encouraged the expanded BRICS nations to continue fostering cultural dialogue, enriching exchange content, and building cooperative networks to turn the vision of cultural exchanges into reality. During the story-sharing session, participants shared inspiring stories of how BRICS nations have fostered mutual understanding and deepened friendships through cross-border and cross-generational dialogues, advancing together through practical cooperation. Tia Ju, Vice President of the Legislative Assembly of the State of Rio de Janeiro in Brazil, gave a speech via video link, and Talita Bernardo, Head of the office of the Second Vice President of the Legislative Assembly of the State of Rio de Janeiro, shared the deep ties that have formed between Rio de Janeiro and the Chinese people since the first Chinese immigrants arrived over 200 years ago. Tamara Moskvina, the 83-year-old honored Russian coach, Denis Petrov, silver medalist at the Albertville Winter Olympics, Chen Lu, China's first world figure skating champion, and Anna Shcherbakova, Beijing Winter Olympics women's figure skating single champion, shared heartwarming stories of the friendship passed down throngh three generations of figure skaters from China and Russia. Prof B.R.Deepak, Director of the Centre for Chinese and Southeast Asian Studies at Jawaharlal Nehru University, reflected on the long history of friendly exchanges between China and India, recalling Tagore's visit to China a century ago. South African scholar Professor Paul Zilungisele Tembe used the song Glorious Years to highlight the BRICS countries' shared commitment to openness, inclusivity, and their common desire for global peace and development. The BRICS Through the Lens photo exhibition attracted visitors, showcasing captivating moments from BRICS nations across areas such as economy, society, history, culture, environment, and youth development. Photographers from the UAE and Ethiopia captured the vibrancy of cities and the rhythm of rapidly changing times, while those from Egypt and Iran focused on colorful festival scenes, weaving a rich tapestry of cultural diversity. The China Horse Industry Association contributed stunning works that depicted the harmonious coexistence between humans and nature, while young people from Russia, Saudi Arabia, and other countries embodied the energy and hope for the future. At the event, performers from the China Orient Ochestra played a medley of BRICS countries' famous songs using traditional Chinese instruments guzheng, showcasing the diverse cultural charm of BRICS countries and receiving enthusiastic applause from the audience. The Kazan Chamber Orchestra of Russia delivered melodies rich in Tatar characteristics and played Glorious Years, which brought the event to its climax. Zhan Changgan, a member of the China Arts and Crafts Association and a director of the Jiangxi Arts and Crafts Association, demonstrated the art of Jingdezhen ceramics to international guests. He also created ceramic works themed around the national flowers of BRICS countries, depicting a vivid scene of unity and collaboration among the BRICS nations. At the event, Zhejiang University presented A Comprehensive Collection of Ancient Chinese Paintings to Kazan Federal University. The special exhibition of this collection drew considerable interest from the attendees.
HANGZHOU, China, Sept. 28, 2024 /PRNewswire/ -- Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, "Embrace AIoT for safer, smarter, and greener mobility." Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility. How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024 Road safety revolution: harnessing AIoT for secure transportation Hikvision's commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company's technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures. A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range. Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys. Urban mobility redefined: smart traffic innovations In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency. A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency. At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness. Sustainable transportation: leading the charge for greener cities Hikvision's commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%. The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship. Frank Zhang, President of Hikvision MEA, remarked, "Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges." He further emphasized, "Our system's openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives." Hikvision's presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company's role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all. To find out more about Hikvision's advanced traffic and public transport solutions, please explore the Hikvision official website.
GUANGZHOU, China, Sept. 27, 2024 /PRNewswire/ -- During a trade promotion event at the Guangzhou International Fruit & Vegetable Expo, Betrimex (Ben Tre Import Export Joint Stock Company) signed a Memorandum of Understanding (MoU) with the Jiangnan Market Imported Fruit Chamber of Commerce to establish a strategic partnership for exporting fresh coconuts from Vietnam to the Chinese market. This milestone marks a significant opportunity for Vietnamese fresh coconuts to enter the Chinese market. The signing ceremony was witnessed by representatives from the Vietnamese Consulate in Guangzhou, the Vietnam Coconut Association, and key members of the Jiangnan Market Imported Fruit Chamber of Commerce. This proactive move by Betrimex comes just over a month after the Vietnamese Ministry of Agriculture and Rural Development and the General Administration of Customs of China signed three protocols on agricultural product exports, including fresh coconuts, to China. Betrimex and Jiangnan Market Imported Fruit Chamber of Commerce signed an MOU to promote Vietnamese fresh coconut exports to China. Under this strategic partnership, Betrimex will be the Chamber's strategic partner for supplying and importing fresh coconuts into the Guangzhou market. Both parties are committed to close cooperation to ensure a stable supply and high-quality products that meet export standards. They will also collaborate on trade promotion, marketing, and communication activities to enhance brand recognition and expand market share for Vietnamese fresh coconuts, not only in Guangzhou but throughout China. Mr. Cao Ba Dang Khoa, General Secretary of the Vietnam Coconut Association, stated: "Immediately after the protocol was issued, we have been working tirelessly to connect Vietnamese businesses with Chinese partners." The Vietnam Coconut Association predicts that with the signing of the protocol allowing official export of fresh coconuts to China, fresh coconut export turnover this year could reach US$250 million, accounting for 25% of the total coconut industry's export turnover. Mr. Khoa also noted that China is currently the main market, receiving more than 60% of Thailand's coconut production. The emergence of Vietnamese fresh coconuts will create exciting competition, requiring businesses to pay special attention to product quality to gain customer trust. "Only then can we turn these MoUs into real value, bringing long-term benefits to the Vietnamese coconut industry," he emphasized. As a leading coconut manufacturer from Vietnam, Ms. Tran Que Trang, CEO of Betrimex, shared: "Exporting fresh coconuts to China is part of Betrimex's long-term strategy. We have been proactively preparing since the protocol was in the negotiation stage, from developing international-standard plantations to researching and ensuring compliance with the stringent export standards of this massive market. Betrimex, in coordination with the Vietnam Coconut Association, has also been diligently promoting and seeking potential partners for over a year. With our years of experience in the Chinese market and the strong support from the Jiangnan Market Imported Fruit Chamber of Commerce, we are confident that Vietnamese fresh coconuts will open doors to deeper penetration into this vast market, gradually realizing the goal of bringing national agricultural products to the global stage." Betrimex is a familiar name in the Chinese market, with its processed coconut products having successfully won over consumers. Betrimex is also the only coconut enterprise in Vietnam with the China Organic certification for its coconut plantations. With this background, Betrimex is actively working to create new growth opportunities for the industry. Betrimex and the Vietnam Coconut Association also signed an MoU to establish an Information Exchange Center with the Hainan Coconut Industry Association (China) in Vietnam. This center will serve as a bridge for exchanging information on markets, products, and supply sources for coconut products, to promote trade and increase export turnover between the two sides.
TASHKENT, Uzbekistan, Sept. 27, 2024 /PRNewswire/ -- On September 26, 2024, SOUEAST Motor hosted the Global Brand Launching Ceremony in Tashkent, Uzbekistan. This conference unveiled the brand's new strategy, along with the new products: the Smart Premium D-class SUV S09 and the Urban Intelligent C-class SUV S07, starting a new chapter in SOUEAST's global expansion. New Proposition Leading an EASE Lifestyle During the Conference, SOUEAST introduced its new brand slogan, "EASE YOUR LIFE," which represents SOUEAST's commitment to integrating a relaxed and carefree lifestyle into every detail of its products and services. SOUEAST also announced the development of a new product and service system centered around three Product DNA: STYLISH、COMFORT and WARM-TECH, providing urban youth with an EASE experience amidst their fast-paced lives. Strategic Plan: Expanding to 80+ Markets in Five Years SOUEAST has fully integrated top-tier international suppliers, a global R&D system, smart manufacturing technology, laying a solid foundation for its global strategy. Mr. Ke, Vice President of SOUEAST Motor, said, "We are establishing 3 manufacturing centers and 10 KD plants globally and currently have 10 global R&D centers. In the next five years, SOUEAST plans to enter over 80 global markets, establish more than 1,500 outlets." Dual Models for Pre-sale: Unveiling the Urban Premium Series S09 is the flagship SUV, focusing on the daily commuting and family outdoor traveling needs of new urban elite users. It focuses on luxurious appearance, comfortable 7-seat space, and excellent driving ability. The hybrid version: S09DM was released at the same time. S07 offering both five-seat and seven-seat options，focusing on trendy design and intelligent technology, aiming to bring comfortable and trendy traveling experience to the new young users. Mr. Dai, Executive Vice President of SOUEAST Motor, pointed out that，"S09 and S07 is just the beginning, officially marks SOUEAST's entry into the Uzbekistan market, and means a new chapter for the brand globally. Over the next 5 years，we plan to launch eleven products in two segments and four categories, including SUVs and sedans. The SUV lineup will cover B, C, and D segments. These products will include ICE, PHEV, and even BEV models for the future." Starting from Uzbekistan, SOUEAST has officially taken its first step towards globalization. With its leading products and services, SOUEAST will continue to exceed customer expectations, delivering a relaxed and enjoyable driving experience.
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