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Leading ZK researchers and WASM experts to develop a zero-knowledge prover for WASM blockchains available via Polygon CDK The zkWASM collaboration leverages Polygon Labs' groundbreaking zero-knowledge R&D with NEAR Foundation's WASM expertise, positioning this ZK solution at the forefront of the Web3 market zkWASM will eventually be one of three provers available for developers who choose to build with Polygon Chain Development Kit (CDK), an open source codebase for launching ZK-powered L2 chains for Ethereum NEAR Foundation becomes a core contributor to Polygon CDK This pioneering research initiative will pave the way for greater trustless interoperability across Web3, including between NEAR and the Ethereum ecosystem LISBON, Portugal, Nov. 8, 2023 /PRNewswire/ --NEAR Foundation, the non-profit that supports the growth and development of the NEAR ecosystem, and Polygon Labs, a software development company for leading Ethereum Layer 2 scaling architecture, announce a strategic collaboration to build zkWASM, a zero-knowledge (ZK) prover for WASM blockchains. With Polygon Labs' authority in ZK scaling technology and NEAR's deep WASM runtime expertise, the zkWASM prover is positioned to lead the market among other wasm provers when it launches next year. Both teams shared the announcement today at the NEAR ecosystem's annual flagship conference, NEARCON, in Lisbon. NEAR Foundation and Polygon Labs join forces to build Zero-Knowledge Solution for WASM Chains This announcement brings together two leading protocol teams to build a more secure, interoperable Web3 ecosystem. A zkWASM prover positions NEAR Protocol closer to Ethereum and enables WASM chains to tap into Ethereum liquidity. In the future, through an in-development interoperability layer, chains will also be able to access shared liquidity in a unified ecosystem of CDK-deployed chains, including alternative layer-1s, EVM layer-2s, and WASM chains. Using a zkWASM prover, WASM chains will be able to settle transactions efficiently and cost-effectively with maximum security guarantees, unlocking the full potential of zero-knowledge for the multichain future of Web3. "We are proud to collaborate with NEAR on this exciting research initiative to further drive the development and adoption of ZK technology. The zkWASM prover maximizes developer customizability, which means projects will be able to select from a number of provers when building with CDK, whether that's launching or migrating an EVM chain, or building a WASM chain for closer Ethereum alignment and access to liquidity," said Sandeep Nailwal, co-founder of Polygon. A zkWASM prover will be an upgrade for NEAR validators–instead of the hard work of validating a shard, validators will instead be able to generate a single zero-knowledge proof, greatly simplifying validator requirements. This means better scalability and increased decentralization for the NEAR Protocol. "We are very excited to work with Polygon Labs to bring all the benefits of zero-knowledge proofs not just to NEAR but all of Web3," said Illia Polosukhin, co-founder of NEAR Protocol. "NEAR is integrating more with Ethereum by innovating in new research frontiers, and the shared expertise of NEAR and Polygon will expand the ZK landscape and defragment liquidity across chains. Creating and using the zkWASM prover will also improve the scalability and decentralization of the NEAR L1." The zkWASM prover is now in active development and is expected to launch next year. About NEAR Foundation: NEAR foundation is a Switzerland-based nonprofit foundation whose mission is to enable community driven innovation to benefit people around the world. One of its core areas of focus is the NEAR ecosystem, which includes a fully operational decentralized Blockchain-based platform for building decentralized applications. NF carries out its mission, primarily through the allocation of support and resources to other nodes in the near ecosystem, rather than via direct intervention or operations. Unlike many organizations of its type, NF's ultimate goal is to minimize its own scope and footprint by continuing to divide functions and resources to the ecosystem; and support the development of decentralized infrastructure necessary for those ecosystem functions to operate in a self-sufficient manner. For more information visit the website. About Polygon Labs: Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups and optimistic rollups), sidechains, hybrid chains, app-specific chains, enterprise chains, and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding 220.8 million, over 1.18 million smart contracts created and 2.48 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading web3 in becoming carbon negative. If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon's fast and secure transactions for dApps you develop, get started here. Website | Twitter | Developer Twitter | Telegram | LinkedIn | Reddit | Discord | Instagram | Facebook CONTACT: Georgia Haniaspress@near.foundation
SHENZHEN, China, Nov. 8, 2023 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the "Company"), today announced the Company was awarded a RMB15 million contract to provide integrated, cloud-based data analytics services to Shenzhen Chuangzhi Tiancheng Tech Co Ltd. to facilitate the intelligent operation and management of its mining project located in Northwest China, while greatly improving operating efficiency and safety. Taoping's integrated cloud-based solution leverages AI and the Company's proprietary intelligent data collection and analysis platform to uncover and accelerate opportunities for intelligent operations and business management. This latest win for Taoping also expands the Company's reach, representing the first application of the Company's powerful new Cloud Nest AI system and intelligent cloud platform solutions in the mining industry. In response to the Company being awarded the RMB15 million contract, Taoping's Chairman and CEO, Mr. Lin Jianghuai, commented, "This is another exciting win for us, further exemplifying the consistent and powerful capabilities of our cloud-based data analytics solutions to help customers drive increased operating efficiencies and strengthen returns on investment. The consistency and quality of our data analytics impressed Shenzhen Chuangzhi Tiancheng Tech and resulted in the exploration of opportunities to incorporate our solutions into its mining project. This also opens the door for Taoping to further expand our footprint throughout the broader natural resources industry and help businesses address the critical need for improved management of scarce natural resources with the power and intelligence of Taoping's AI-driven cloud-based data analytics solutions." About Taoping Inc. Taoping Inc. (Nasdaq: TAOP) has a long history of successfully leveraging technology in the development of innovative solutions to help customers in both the private and public sectors to more effectively communicate and market to their desired targets. The Company has built a far-reaching city partner ecosystem and comprehensive portfolio of high-value, high-traffic areas for its products, which are aligned together with Taoping's smart cloud platform, cloud services and solutions, new media and artificial intelligence. For more information about Taoping, please visit www.taop.com. You can also follow us on X. Safe Harbor Statement This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, such as statements regarding our estimated future results of operations and financial position, our strategy and plans, and our objectives or goals, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our potential inability to achieve or sustain profitability or reasonably predict our future results due to our limited operating history of providing smart cloud services, the effects of the global Covid-19 pandemic, the emergence of additional competing technologies, changes in domestic and foreign laws, regulations and taxes, uncertainties related to China's legal system and economic, political and social events in China, the volatility of the securities markets; and other risks including, but not limited to, those that we discussed or referred to in the Company's disclosure documents filed with the U.S. Securities and Exchange Commission (the "SEC") available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form 20-F as well as in our other reports filed or furnished from time to time with the SEC. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.
Third Annual Awards Program Recognizes Innovation in the Global Life Sciences and Biotechnology Industry SAN JOSE, Calif., Nov. 8, 2023 /PRNewswire/ -- Complete Genomics, a pioneering genomic sequencing company, today announced it is the recipient of the 2023 "Next Generation Sequencing Solution of the Year" award in the third annual BioTech Breakthrough Awards program conducted by BioTech Breakthrough, an independent market intelligence organization that evaluates and recognizes life sciences and biotechnology companies, products and services around the globe. Complete Genomics' unveiling of its DNBSEQ-T20x2RS* in 2023 marked the first time in the industry that a high throughput sequencer reduced the price of genome sequencing to less than $100, or less than $1 per gigabyte. "Our DNBSEQ-T20x2RS* is driving the development and expansion of the global genomics industry as we accelerate our understanding of the human genome and its medical applications. When we increased accessibility to genetic information through lower DNA sequencing costs to researchers, we fundamentally reshaped the industry dynamics," said Dr. Radoje (Rade) Drmanac, Co-Founder and Chief Scientific Officer of Complete Genomics. In addition to making sequencing more affordable, opening it up to new clinical applications, the DNBSEQ-T20x2RS* will also enable broader use of the technology on a larger number of samples, with deeper sequencing per sample which yields more informative results. Complete Genomics is able to offer the DNBSEQ-T20x2x2RS* at a competitive price because it's powered by dip-immersion biochemistry, which significantly reduces sequencing reagent usage, resulting in comparative savings of more than 60%. Using two-color sequencing, DNBSEQ-T20x2RS* saves 50% of optical, computing, storage and broadband resources compared to four-color technology, which contributes to significant cost savings. The mission of the annual BioTech Breakthrough Awards program is to conduct the industry's most comprehensive analysis and evaluation of the top companies, solutions and products in the life sciences and biotechnology industry today. This year's program attracted more than 1,350 nominations from over 12 different countries throughout the world. About BioTech Breakthrough Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the BioTech Breakthrough Awards program is devoted to honoring excellence in life science and biotechnology solutions, services and companies. The BioTech Breakthrough Awards provide public recognition for the achievements of biotechnology companies and products in categories including BioPharma, Genomics, Therapeutics, Food Science and BioAgriculture, and more. For more information visit BioTechBreakthroughawards.com About Complete Genomics Complete Genomics is a pioneering life sciences company that provides novel, end to end DNA sequencing solutions. It has been at the forefront of high throughput sequencing technology development since its inception in 2005. Our products have powered over 6,200 publications across a wide array of applications. To learn more, visit www.completegenomics.com. * Complete Genomics' DNBSEQ sequencing platforms are for research use only and not for use in diagnostic procedures.
HUALIEN, TAIWAN - Media OutReach - 8 November 2023 - Located on the east coast of Taiwan, Hualien is rich in stone and minerals. This unique geology forms the renowned Taroko Gorge, Qingshui Cliff, and Qixingtan Beach, attracting domestic and foreign visitors to its majestic scenery. Works from stone sculptors from all over the world in the beautiful scenery of Hualien The stone of Hualien is the DNA of the city, integrated into daily life, with stone lining the pedestrian walkways, transportation shelters, collage and mosaic walls, to its community of stone factories, art merchants, sculptors, and artist studios. This vibrant stone culture informs the eminent "Hualien International Stone Sculpture Festival." The 2023 edition of "Hualien International Stone Sculpture Festival" is titled "STONEVERSE," symbolizing the thousands of possibilities of stone like the stars in the universe, beyond its existence as a material. The main event "Symposium" invites 10 sculptors for a month-long residency from September 30 to October 29, including Jean-Paul Chablais (France), Vincent Beaufils (France), Marino Di Prospero (Italy), Francesco Mazzotta (Italy), Raphael Beil (Germany), Roland Hoeft (Germany), Albena Mihaylova (Bulgaria), Zdravko Zdravkov (Bulgaria), Behnam Akharbin Moghanlo (Iran), Hedayat Sahraei (Iran). After 28 years of operation through "Symposium," Hualien has in its collection 180 large-scale stone sculptures created by artists from various countries. At the conclusion of their work, stone is granted life and faceted as precious gems, integrated into the majestic scenery of Hualien, awaiting its visitors. The thematic exhibition "Detonation of Essence and Form" in a series of events will be on view at the Hualien County Stone Sculptural Museum until December 24. With works from 14 artists from Taiwan, China, South Africa, Japan, South Korea, among others, the exhibition aims to showcase diverse and contemporary perspectives on stone sculpture and material across generations, covering stone sculpture, metal casting, photography, video installation, imaging, melamine board, paper pulp, and furniture design. Through consistent revisitation and interpretation of classic values, "stone sculpture" as a traditional art also continually renews itself. "Hualien International Stone Sculpture Festival" is a bridge between Hualien and the world, not only in creating an exceptional space for outstanding stone sculptors from all over the world, but also sharing the beauty of Hualien with the world, and collecting the essence of stone sculpture in Hualien for our understanding and appreciation. Hashtag: #Hualien #HualienInternationalStoneSculptureFestivalThe issuer is solely responsible for the content of this announcement.
Highlights of FY23/24 Half-Year Results Group sales US$1,937 million – up 9% compared to first half of the prior financial year. Excluding the effects of foreign currency movements and acquisitions, sales increased by 10% Gross profit US$430 million or 22.2% of sales (compared to US$355 million or 20.0% of sales in the first half of the prior financial year) Adjusted EBITA US$180 million or 9.3% of sales (compared to US$111 million or 6.3% of sales in the first half of the prior financial year) Net profit attributable to shareholders up 115% to US$120 million or 12.99 US cents per share on a fully diluted basis Underlying net profit, excluding the net impact of unrealized gains or losses relating to exchange rate movements and restructuring costs, up 66% to US$130 million Free cash flow from operations US$208 million (compared to US$80 million in the first half of the prior financial year) Total debt to capital ratio of 13% and cash reserves of US$440 million as of 30 September 2023 Interim dividend unchanged at 17 HK cents per share (2.18 US cents per share) with a scrip dividend alternative HONG KONG SAR - Media OutReach - 8 November 2023 - Johnson Electric Holdings Limited ("Johnson Electric"), a global leader in electric motors and motion subsystems, today announced its results for the six months ended 30 September 2023. Total Group sales for the first half of FY23/24 totalled US$1,937 million, an increase of 9% over the first half of the prior financial year. Excluding the effects of foreign currency movements and acquisitions, sales increased by 10%. Net profit attributable to shareholders increased by 115% to US$120 million or 12.99 US cents per share on a fully diluted basis. Underlying net profit, after adjusting for the effects of non-cash foreign exchange rate movements and restructuring costs, increased by 66% to US$130 million. Automotive Products Group The Automotive Products Group ("APG"), which accounted for 84% of total Group sales in the period under review, reported a 17% increase in sales on a constant currency basis. This compares to global auto industry production volume growth over the same period of approximately 10%. APG performed strongly in each of the three major geographic regions, with sales on a constant currency basis up by 12% in Asia, 25% in Europe, and 16% in the Americas. While many applications for APG's products are agnostic to vehicle propulsion type, a significant part of the division's growing dollar content per vehicle stems from sales of new motion-related products that are key technology and performance enablers of electrification. Among the most important of these are electric water pumps, coolant valve subsystems, and integrated thermal management subsystems. The structural transformation of the automotive sector away from internal combustion engine propulsion to electric vehicles is reaching a tipping point. Sales of battery electric and plug-in hybrid passenger cars are on track to exceed 14 million in 2023 – representing roughly one in every six new cars sold worldwide (compared to 1 in 40 new cars sold in 2019). By far the most important market driving this growth is China, where electric vehicles currently amount to close to 40% of all new vehicle sales. In Europe and the USA, the equivalent figures are around 20% and 8%, respectively. Although the mix of regulatory, economic, technology, infrastructure, and customer preference factors that impact the uptake of electric vehicles will continue to vary by country, it has become increasingly clear that all major automotive OEM customers are focusing their growth and investment strategies on electrifying their range of new models. For component and subsystems suppliers, the imperative is to develop solutions that support vehicle electrification at a competitive cost and on a global scale. In each of these respects, APG is making encouraging progress. Industry Products Group The Industry Products Group ("IPG"), which accounted for 16% of total Group sales, reported a 17% decrease in sales on a constant currency basis and excluding acquisitions. IPG is experiencing a tougher year primarily due to two main macro-economic factors. Firstly, end-market sales of many "home centric" consumer products that boomed during the pandemic (home printers and coffee machines being two prime examples) are currently experiencing weaker demand as economies have reopened and consumers have rebalanced their expenditures towards services, entertainment and travel. Consequently, a number of IPG's OEM and contract manufacturing customers – many of whom had also built-up large inventories to cope with the pandemic-induced disruptions to supply chains – have reduced or delayed orders of micromotors and motion-related components. Secondly, sharply higher inflation and rising interest rates are inevitably having a negative impact on consumer sentiment, spending on discretionary goods, and activity in the housing sector, which together underpin demand in several end-market segments served by IPG. On the positive side, IPG has continued to grow sales in segments less sensitive to consumer sentiment, including medical device subsystems, semiconductor manufacturing equipment, and microscopy. In the medium to longer term, IPG is also exceptionally well positioned to benefit from the proliferation of motion and electrification-enabling technologies in an increasing range of applications spanning electric bikes, lawn and garden equipment, ventilation and heating, smart home products, and other industrial applications. Gross Margins and Operating Profitability Gross profit increased by 21% to US$430 million – which as a percentage of sales represented an increase to 22.2% from 20.0%. The improvement in gross margins was largely the result of improved operating efficiencies on higher sales volumes, pricing adjustments to recover inflationary effects that had significantly hampered performance in the prior year period, reductions in direct labour intensity and lower inbound freight costs. These positive factors more than offset increases in utilities and subcontracting costs, as well as losses on hedging contracts. Reported earnings before interest, tax and amortization ("EBITA") was US$168 million (compared to US$86 million in the first half of the prior financial year). Adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, EBITA was US$180 million or 9.3% of sales (compared to 6.3% in the first half of the prior financial year). In addition to the improvement in gross profit, the primary factor driving the improvement EBITA margins was reduced outbound freight costs, which outweighed an increase in specific claim provisions and warranty expenses. Net Profit and Financial Condition Net profit attributable to shareholders was US$120 million or 12.99 US cents per share on a fully diluted basis. Underlying net profit, adjusted to exclude the non-cash impact of foreign exchange rate movements and restructuring charges, was US$130 million compared to US$78 million in the first half of the prior financial year. Cash generation improved sharply with free cash flow from operations amounting to US$208 million – due to the combination of higher profit and lower working capital and capital expenditure. Johnson Electric's overall financial condition remains sound with a total debt to capital ratio of 13% and cash balances of US$440 million as of 30 September 2023. Interim Dividend The Board has today declared an interim dividend of 17 HK cents per share, equivalent to 2.18 US cents per share (FY22/23 interim: 17 HK cents per share). The interim dividend will be payable in cash with a scrip alternative where a 4% discount on the subscription price will be offered to shareholders who elect to subscribe for shares. Full details of the scrip dividend alternative will be set out in a circular to shareholders. The interim dividend will be payable on 17 January 2024 to shareholders registered on 5 December 2023. Chairman's Comments on the Half-Year Results and Outlook Commenting on the results, Dr. Patrick Wang, Chairman and Chief Executive, said, "Johnson Electric achieved commendable financial results in the six-month period ended 30 September 2023." "The strong top-line performance was driven by demand for automotive components that partly reflected pent-up demand for new car models following a lengthy period of global supply chain constraints, and partly an ongoing increase in the Group's product content per vehicle as OEM customers accelerate their adoption of technology solutions that are enabling the industry's shift to electrification, reduced emissions, and improved safety and comfort. Robust growth in auto component sales was somewhat offset by lower sales to consumer and industrial product applications due to post-pandemic demand adjustments and the negative effects of inflation and rising interest rates on consumer sentiment. Higher overall sales volumes drove improved operating efficiencies that, combined with the low base effect of the prior year period and other one-off factors, resulted in significantly higher profitability and free cash flow generation." Regarding the outlook for the second half of the financial year, Dr. Patrick Wang commented, "The Group has entered the second half of the financial year in much improved financial condition. Notwithstanding the highly encouraging set of results for the first half, there are nonetheless reasons to be cautious. In the automotive sector, the rate of sales growth has begun to slow as post-pandemic supply constraints subside and are gradually replaced by concerns over higher interest rates, tighter credit, and the price of new vehicle models. Meanwhile, IPG's consumer and industrial segments continue to remain weak as several major economies struggle to avoid recession. Based on current trading conditions, it is expected that the Group will remain on track to achieve sales growth for the full year within the range of 5% to 7% that was budgeted for at the outset of the financial year." Dr. Patrick Wang further commented, "Beyond specific industry demand trends, the geopolitical environment remains unpredictable. In the face of such uncertainty, we remain focused on adapting our business model to seek to capture the substantial growth opportunities inherent in our target markets and, at the same time, ensure that we are building sufficient resiliency to withstand the risks of potential short-term demand shocks or supply disruptions." Forward Looking Statements This news release contains certain forward looking statements with respect to the financial condition, results of operations and business of Johnson Electric and certain plans and objectives of the management of Johnson Electric. Words such as "outlook", "expects", "anticipates", "intends", "plans", "believe", "estimates", "projects", variations of such words and similar expressions are intended to identify such forward looking statements. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results or performance of Johnson Electric to be materially different from any future results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding Johnson Electric's present and future business strategies and the political and economic environment in which Johnson Electric will operate in the future. Hashtag: #JohnsonElectricThe issuer is solely responsible for the content of this announcement.Johnson Electric GroupThe Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 35,000 individuals in 22 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: www.johnsonelectric.com.
MANILA, PHILIPPINES - Media OutReach - 8 November 2023 - Double 11 (11/11) is coming soon, once again bringing unparalleled deals and discounts. EcoFlow, a pioneer in sustainable energy solutions, has joined the fray with promising offers to light up the occasion. From November 11th-15th, EcoFlow is unveiling a series of exclusive offers on Lazada and Shopee for Filipino shoppers, with wide ranging discounts of up to ₱28,700. As leaders in sustainable energy, EcoFlow offers a suite of portable power stations (PPS) perfect for outdoor adventures, and reliable emergency backup. EcoFlow's solutions, including the RIVER 2 Pro and DELTA 2, bring portability, durability, and up to 10 years of daily use capability. These devices are not just lightweight and easy to carry but also feature long-lasting and safe LFP batteries. For those who love outdoor activities or need dependable power during emergencies, the RIVER 2 Pro is an ideal choice. Available at ₱3800 off during the sale, this versatile and lightweight device employs advanced X-Stream technology, enabling it to recharge from 0-100% in just 70 minutes - up to five times faster than its peers. It's an excellent ally for camping, traveling, or powering essential household items. The DELTA 2, offered at a ₱6300 discount, is a must-have for homes that prioritize power reliability, comfort, and eco-friendliness. With an expandable energy storage capacity of 1-3kWh, it supports over 90% of everyday household appliances, including microwaves and hair dryers. The DELTA 2 ensures multiple days of home backup energy, making it a powerful and eco-friendly solution for a variety of needs. EcoFlow's offerings this 11/11 are more than just products; they represent lasting, reliable energy solutions suitable for any circumstance—ensuring users invest in their peace of mind. Hashtag: #EcoFlowThe issuer is solely responsible for the content of this announcement.About EcoFlowEcoFlow is a leading eco-friendly energy solutions company with the vision to power a new world. Since its founding in 2017, EcoFlow aims to become a reliable and trusted energy companion for individuals and families, providing accessible and renewable power solutions at home, outdoors, and in mobile spaces. Today, with operational headquarters located in the USA, Germany, and Japan, EcoFlow has empowered more than 2.5 million users in over 100 markets worldwide.
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