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目前Global Business News文章數, 共 21817 篇 ,以下為 21625 - 21648 篇 訂閱此列表,掌握最新動態
SUNRATE closes Series D-2 funding round led by Sequoia Capital Southeast Asia (now known as Peak XV Partners)

SINGAPORE, July 27, 2023 /PRNewswire/ -- SUNRATE, an intelligent global payment and treasury management platform announced today that it has raised an extended Series D (Series D-2) funding round from Sequoia Capital Southeast Asia (now known as Peak XV Partners). Prosperity7 Ventures and Softbank Ventures Asia also contributed to the round. The funding will enable SUNRATE to accelerate its global expansion plans by driving innovative development of its technologies, deepen cutting-edge products and services, hire top industry talent and also provide the flexibility to explore additional strategic opportunities. SUNRATE provides global payment products and services for businesses worldwide, including international payments, global collection, commercial card issuance and treasury management. Businesses can make payments to more than 150 countries and transact in more than 100+ currencies. They also enjoy global collection services available in over 30 currencies, collect funds in over 10 major global currencies (as if they were local payments), and settle card spends in more than 15 currencies. As part of SUNRATE's global vision to drive B2B digitalisation, it also offers effective treasury management tools such as TreasuryOS and RiskOS, to enable businesses to manage and oversee their financial assets, liabilities, and liquidity. Paul Meng, Co-Founder at SUNRATE said, "We started SUNRATE with the modest goal of bettering the payments experience of small to medium-sized businesses ("SMBs"). Through the years, we have witnessed first-hand how our products and services have benefited businesses; by providing fast secure transactions, high-touch customer service as well as lower and transparent costs. Having prestigious investors like Peak XV Partners come onboard this journey with us is testament to our efforts and performance – in cementing ourselves as the go-to leading global cross-border B2B payment platform in emerging markets. By removing business payments friction and helping businesses to digitalise, SUNRATE empowers businesses — helping them to scale across borders seamlessly and effectively." In the last year, SUNRATE's business has significantly scaled and achieved great momentum across emerging markets. SUNRATE intends to use funds from this round to accelerate growth in the emerging markets, such as Southeast Asia and India, and continue to onboard new customers globally.  The company will continue to bring in top talents to match its overall global growth trajectory. Abheek Anand, Managing Director at Peak XV said, "Cross-border business payments serve as a vital foundation for the multi-trillion dollar global trade market. SUNRATE has built a proprietary global payment network and a diverse product portfolio to provide fast, compliant, and low cost payment capabilities to customers across multiple markets in Asia. We're excited to partner with the team as they continue to expand rapidly and sustainably as the emerging market leader in this massive category." The influx of investment is timely when the emerging market opportunities for SUNRATE in global cross-border B2B and card payments are still expanding at a rapid pace. According to FXC Intelligence, the global B2B cross-border payments market is expected to total US$56.1 trillion in volume by 2030. About SUNRATE SUNRATE is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE is recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 150+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs. With its global headquarters in Singapore and offices in Hong Kong, Jakarta, London and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays and is the principal member of both Mastercard and Visa. To learn more about SUNRATE, visit https://www.sunrate.com/ About Peak XV Partners (Formerly Sequoia Capital India & SEA) Peak XV Partners (formerly Sequoia Capital India & SEA) is a leading venture capital and growth investing firm investing across India, Southeast Asia and beyond. Peak XV (pronounced Peak Fifteen) was the name used for Mount Everest before it was called that. It embodies everything we believe about building long-lasting businesses that stand tall and inspire greatness. Over the last 17 years of our operations in the region, Peak XV has grown to manage over USD 9 billion in capital across 13 funds and invested in over 400 companies. To know more, check out peakxv.com. Important note: This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of securities of SUNRATE in any jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 1363 加入收藏 :
Bullard Set to Receive Malaysia's Sirim Certification for FlexGen S61 Hard Hat Model, Stock Available Now

SINGAPORE, July 27, 2023 /PRNewswire/ -- Bullard, a leading manufacturer of personal protective equipment, announced today that its FlexGen™ S61 hard hat model has received the SIRIM certification from Malaysia, confirming its compliance with local safety standards. "We are delighted to receive the SIRIM certification for our FlexGen S61 model," said Wells Bullard, CEO of Bullard. "This achievement reflects our dedication to excellence and our determination to offer innovative solutions that meet the needs of workers and companies in Malaysia and beyond. We are excited to partner with Polyscientific, our trusted distributor in Malaysia, to bring the FlexGen™ S61 and other Bullard products to customers in the region." Vincent Lee, Bullard's International Business Director, added: "The FlexGen™ S61 hard hat is a perfect example of Bullard's commitment to designing products that combine comfort, style, and safety. The hard hat's unique suspension system- FlexGen™,  lightweight design, and customizable options make it the perfect choice for workers in a variety of industries, from construction and mining to oil and gas and more." The FlexGen™ S61 hard hat is made in the USA and features a modern, streamlined design that offers superior protection and style. Its advanced suspension system provides maximum comfort and stability, while its customizable options allow workers to personalize their gear to meet their needs and preferences. Matt King, Bullard's Global Product Manager for Head and Face Protection commented: "The FlexGen™ S61 hard hat is designed to deliver the best possible protection and comfort for workers in challenging environments. We are thrilled to see it gain recognition and acceptance in Malaysia and other markets where Bullard operates. Hong Yee Seah, CEO of Polyscientific, Bullard's Malaysia distributor, added: "We are excited to bring the FlexGen™ S61 and other Bullard products to our customers in Malaysia. Bullard's reputation for quality and innovation, combined with Polyscientific's extensive network and expertise, will help us serve the needs of companies and workers across various industries. We look forward to a fruitful partnership with Bullard and to contributing to the growth of the PPE market in Malaysia." The FlexGen™ S61 hard hat is now available in Malaysia, following the completion of the SIRIM certification process. Bullard and Polyscientific are committed to providing timely and efficient delivery and support to their customers. For more information about the FlexGen™ S61 hard hat, please visit https://apac.bullard.com/hard-hats/flexgen/ Jingyi Zhangjingyi_zhang@bullard.comTel: +65 6745 0556

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 690 加入收藏 :
SK Inc.'s board of directors declares an interim dividend of KRW 1,500 per share

The first interim dividend payout after Articles of Incorporation were amended to enable investors to invest after checking dividend amount Shareholders of record as of August 10, 2023 will receive dividend payout  SEOUL, South Korea, July 27, 2023 /PRNewswire/ -- SK Inc. announced that its board of directors (BOD) held a meeting on July 26, in which the board declared to distribute an interim dividend of KRW 1,500 per share, matching last year's payout. The total interim dividend payout amounts to approximately KRW 83.6 billion. SK Inc. has been distributing interim dividends for six consecutive years, or since 2018. This interim dividend marks the first dividend payout after amending the Articles of Incorporation. The amendment, which was approved at SK Inc.'s general shareholders meeting in March 2023, aims to provide investors with key data so that they can make informed investment evaluations. It allows investors to make investment decisions after gaining information about the amount of dividends. In January 2023, the Financial Services Commission and the Ministry of Justice announced recommendations for listed companies to improve the distribution process for dividends. They proposed allowing the record date for interim dividends to fall after the distribution amount is decided. The record date is set for August 10, 2023. The interim dividend is scheduled to be distributed before August 31 to shareholders. SK Inc. is focused on strengthening the competitiveness of its major subsidiaries and investments in the following four sectors: advanced materials, bio, green, and digital. SK powertech, which started mass production of SiC power semiconductors at its new plant in Busan in the first half of this year, aims to triple its production capacity by the fourth quarter of 2023 by optimizing its new plant. EV charging solutions provider SK signet continues to grow its US market share, having recently signed a major contract to supply more than 1,000 chargers to a US company following the completion of its factory in Plano, Texas. Furthermore, SK pharmteco recently finished building its second cell and gene therapy plant, a groundbreaking biopharmaceutical facility located in France. The company is now gearing up for mass production, set to begin in early 2024. Simultaneously, SK pharmteco is making significant progress in attracting investments to bolster the global competitiveness of its high-growth bio business. SK biopharmaceuticals aims to establish growth engines in innovative new drugs, specifically focusing on radiopharmaceutical treatment therapy and targeted protein degradation treatments. This strategic direction is built on the success the company has achieved with its new drugs for epilepsy. Furthermore, SK Inc. is actively developing a robust eco-friendly portfolio that can generate high future value. This portfolio includes projects such as small module reactors (SMR) and clean hydrogen technologies. Additionally, the company remains committed to investing in digital technology sectors, such as Artificial Intelligence (AI) and Web3. SK Inc. plans to bolster its financial soundness in anticipation of potential macroeconomic uncertainties. The company is also dedicated to reinforcing its business competitiveness to ensure that business performance is closely aligned with corporate value.  

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 686 加入收藏 :
Autohome Inc. Announces Board Changes and Newly Appointed Female Board Member

BEIJING, July 27, 2023 /PRNewswire/ -- Autohome Inc. (NYSE: ATHM; HKEX: 2518) ("Autohome" or the "Company"), the leading online destination for automobile consumers in China, today announced that each of Mr. Zheng Liu and Mr. Jun Lu has resigned from their positions as the Company's directors due to other personal commitments, effective immediately. The Company further announces that Ms. Keke Ding has been appointed as a director and a member of the Compensation Committee of the board of directors of the Company (the "Board") and that Dr. Fan Lu has been appointed as a director of the Board, effective immediately.    Ms. Keke Ding has over 26 years of experience in property insurance industry and business management. Ms. Ding currently serves as the assistant general manager at Ping An Property & Casualty Insurance Company of China, Ltd. ("Ping An Property & Casualty Insurance"), a subsidiary of Ping An Insurance (Group) Company of China, Ltd. ("Ping An Group"). Ms. Ding has held multiple management roles relating to insurance and business management within Ping An Property & Casualty Insurance and its several provincial-level branches since May 1997, including managing distribution channels, retail customer marketing, and digital customer platforms. Ms. Ding received her bachelor's degree in insurance from Dongbei University of Finance and Economics in July 1997. Dr. Fan Lu has over 17 years of institutional investment management experience, spanning the areas of global macro hedge fund, quantitative investment, A-share market fundamental research, asset allocation and insurance asset-liability management. Dr. Lu currently serves as the general manager of asset management department at Ping An Property & Casualty Insurance, fully responsible for the company's asset-liability management and investment-related activities. Dr. Lu has held a series of management roles relating to investment management within Ping An Group and its affiliates since September 2011. Prior to that, Dr. Lu held various positions of investment management at companies including AlphaSimplex, a hedge fund company in Boston, United States, and Haitong Securities Co., Ltd. (SHA: 600837; HKEX: 6837), a top securities firm in China. Dr. Lu received his PhD degree in statistics and a master's degree in computer science from the University of Wisconsin-Madison in June 2006 and June 2005, respectively, and received his bachelor's degree in biophysics from Nanjing University in June 1999. Mr. Quan Long, Chairman of the Board and Chief Executive Officer of Autohome, stated, "We are delighted to welcome Ms. Keke Ding and Dr. Fan Lu to our Board, both of their wealth of knowledge and expertise will be a great asset to our future growth, helping the Company in its ongoing commitment to enhancing ESG governance through Board oversight. Ms. Ding's joining as a female director represents an important step forward for Autohome's greater Environmental, Social, and Governance (ESG) practices, gender diversity and workplace inclusiveness. We would also like to express our sincere gratitude to both Mr. Zheng Liu and Mr. Jun Lu for their valuable contributions to the Company during the tenure." About Autohome Inc. Autohome Inc. (NYSE: ATHM; HKEX: 2518) is the leading online destination for automobile consumers in China. Its mission is to relentlessly reduce auto industry decision-making and transaction costs driven by advanced technology. Autohome provides occupationally generated content, professionally generated content, user-generated content, and AI-generated content, a comprehensive automobile library, and extensive automobile listing information to automobile consumers, covering the entire car purchase and ownership cycle. The ability to reach a large and engaged user base of automobile consumers has made Autohome a preferred platform for automakers and dealers to conduct their advertising campaigns. Further, the Company's dealer subscription and advertising services allow dealers to market their inventory and services through Autohome's platform, extending the reach of their physical showrooms to potentially millions of internet users in China and generating sales leads for them. The Company offers sales leads, data analysis, and marketing services to assist automakers and dealers with improving their efficiency and facilitating transactions. Autohome operates its "Autohome Mall," a full-service online transaction platform, to facilitate transactions for automakers and dealers. Further, through its websites and mobile applications, it also provides other value-added services, including auto financing, auto insurance, used car transactions, and aftermarket services. For further information, please visit https://www.autohome.com.cn. Safe Harbor Statement This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. Statements that are not historical facts, including statements about Autohome's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in Autohome's filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Autohome does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: In China: Autohome Inc.Investor RelationsSterling SongInvestor Relations Director  Tel: +86-10-5985-7483E-mail: ir@autohome.com.cn The Piacente Group, Inc. Jenny Cai Tel: +86-10-6508-0677 E-mail: autohome@tpg-ir.com

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 808 加入收藏 :
Aethir Closes $150 Million Valuation, Pre-A Funding Round to Scale its Decentralized Cloud Infrastructure

SINGAPORE, July 27, 2023 /PRNewswire/ -- Aethir, a pioneer in Decentralized Cloud Infrastructure (DCI), today announced the completion of its Pre-A funding round, bringing the total value raised to date to over USD$9 million and the company valuation to USD$150 million.  The round was led by leading global investors, including Sanctor Capital, Hashkey, Merit Circle, and CitizenX with further support from Mirana Ventures, Animoca Brands, Momentum6, Big Brain Holdings, Builder Capital, Tess Ventures, Maelstrom (Arthur Hayes) and many more.   Aethir was established in Singapore in 2021 by cloud industry veterans to build what they've coined Scalable Decentralized Cloud Infrastructure.  Already serving a growing customer base, including high-profile enterprises, AI companies and gaming studios, the investment enables Aethir to expedite its global expansion in key markets like South East Asia, Latin America, and North America, as well as to bolster its innovative Decentralized Cloud Infrastructure.  "The cloud sector has traditionally been a challenging industry to scale, plagued by high costs, particularly for customers requiring complex real-time rendering or streaming infrastructure - and that's not taking into account the additional stress on the ecosystem as a result of the AI boom," said Mark Rydon, Aethir Co-Founder and CEO. "At Aethir, we're laser-focused on solving the cloud scalability challenge. We've built a global DCI network specifically to scale complex cloud infrastructure services globally; a significant milestone for the future of the gaming and AI industry. The cost and performance advantages of our DCI are significant, and when coupled with our ability to operate in developed and developing markets alike, we're unlocking a huge amount of potential value for our customers."   Aethir has shown consistent growth under Rydon's stewardship, creating a scalable and secure Decentralized Physical Infrastructure Network (DePIN) service that caters to the rigorous demands of enterprise-grade gaming and AI applications.  The completion of this successful funding round follows a previous Seed round led by Framework Ventures and Infinity Ventures Crypto, underscoring the demand for Aethir's solutions and demonstrating investors' conviction in its potential to revolutionize the gaming and AI industry through its Decentralized Cloud Infrastructure.   Arthur Hayes, CIO of Maelstrom "We're backing projects that are using the blockchain to solve real-world issues. Aethir is meaningfully expanding the addressable market for gaming and other streaming content in the world's highest-growth (but hardware-constrained) markets. Everybody wins as Aethir expands - gamers, publishers and globally distributed rendering node operators alike." Han Kao, CEO of Sanctor Capital "For the metaverse to become a populated, engaging, virtual universe, the underlying infrastructure needs to support efficient, low-cost computation. Aethir is part of this next-generation infrastructure stack that unlocks the gaming and social communication possibilities we have been waiting for." About Aethir   Aethir builds scalable, decentralized cloud infrastructure (DCI). Their network helps gaming and AI companies - big or small - put their product directly in the hands of consumers, regardless of where they live or the hardware they own. Aethir solves market fragmentation in a way only the decentralized cloud can. The Singapore-based company boasts a team of 68 dedicated employees. For more information, please visit www.aethir.com.

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 976 加入收藏 :
YS Biopharma Announces Financial Results for Fiscal Year 2023 Ended March 31, 2023

Total revenues increase by 36.3% year-over-year; gross margin improves to 77.7%; balance sheet remains robust Company's PIKA rabies vaccine approved for Phase III clinical trials in Singapore, the Philippines, and Pakistan; interim results expected early next year GAITHERSBURG, Md., July 27, 2023 /PRNewswire/ -- YS Biopharma Co., Ltd. (NASDAQ: YS) ("YS Biopharma" or the "Company"), a global biopharmaceutical company dedicated to discovering, developing, manufacturing, and delivering new generations of vaccines and therapeutic biologics for infectious diseases and cancer, today announced its financial results for the fiscal year ended March 31, 2023 ("Fiscal Year 2023"). Dr. David Shao, Director, President, and CEO of YS Biopharma, commented, "We are delighted to announce our first annual results as a Nasdaq-listed company with significant year-over-year revenue growth, a stable gross margin, and a strengthened balance sheet. At the same time, we laid the foundations for our future development as we advanced our diversified portfolio of innovative product candidates, bringing them closer to commercialization. Driven by strong demand for our YSJA rabies vaccine and our strategic execution of sales and marketing initiatives, we ended fiscal year 2023 standing as one of the leading human rabies vaccine manufacturers, and we expanded our market reach to over 60% of CDC customers in China. Meanwhile, we made notable progress in advancing our rabies vaccine franchise when we received approval to conduct Phase III clinical trials of our premium, next-generation PIKA rabies vaccine from regulatory authorities in the Philippines, Singapore, and Pakistan. Looking ahead, we will strategically unlock the potential of our marketed product and our pipeline candidates by exploring commercial partnerships, expanding our infrastructure, entering new markets, and leveraging our deep experience in vaccine manufacturing, sales, and distribution. With our first-generation rabies vaccine generating organic cash flows and our robust product portfolio advancing to the next phase, we are well-positioned to continue developing transformative vaccines and therapeutic biologics while creating long-term shareholder value." Business Updates YSJATM Rabies Vaccine YS Biopharma's marketed vaccine product, YSJATM rabies vaccine, was the first aluminum-free lyophilized rabies vaccine launched in China. Since the Company commenced production at its current GMP-compliant facilities in February 2020, and as of March 31, 2023, YS Biopharma had sold more than 19.9 million doses of YSJATM rabies vaccines to approximately 1,687 county-level CDCs in China. Clinical Pipeline YS Biopharma is advancing a robust portfolio of innovative product candidates under various clinical development stages, including PIKA rabies vaccine, PIKA recombinant COVID-19 vaccine, and PIKA YS-ON-001. PIKA Rabies Vaccine The Company has completed Phase I and Phase II clinical trials of its PIKA rabies vaccine in Singapore, and has completed a Phase I clinical trial in China. As of June 1, 2023, the Company had received regulatory approval to conduct Phase III clinical trials of the vaccine from authorities in the Philippines, Singapore, and Pakistan. This multi-country Phase III study will evaluate lot-to-lot consistency of three lots of the PIKA rabies vaccine, along with the vaccine's immunogenicity and safety. The Company plans to enroll a total of 4,500 subjects into the Phase III study, with enrollment expected to begin in the fourth quarter of 2023. The Company targets to obtain interim results in early 2024. PIKA Recombinant COVID-19 Vaccine In March 2023, the Company reported positive interim safety and immunogenicity data for the PIKA recombinant COVID-19 vaccine from Phase II of the Phase II/III clinical studies which were completed in the Philippines and the UAE. These results demonstrated the safety profile of the Company's PIKA adjuvant technology among approximately 6000 subjects in the Phase II/III trial. The results of the Phase III clinical trials are expected to be available before the end of 2023. As the global situation regarding COVID-19 continues to evolve, the Company will continue to monitor worldwide health trends and make appropriate decisions regarding commercialization strategies for the PIKA recombinant COVID-19 vaccine. PIKA YS-ON-001 YS Biopharma is currently enrolling cancer patients for the Phase I clinical study of PIKA YS-ON-001 in China. The Company expects this Phase I clinical study to be completed by December 31, 2023. Fiscal Year 2023 Financial Results Total Revenues Total revenues increased by 36.6% to RMB687.2 million (US$100.0 million) in Fiscal Year 2023 from RMB502.9 million in the same period of 2022. The increase was primarily due to increases in the sales volume and product unit price of the Company's YSJATM rabies vaccine. Gross Profit Gross profit was RMB533.8 million (US$77.7 million), representing a 77.7% gross margin, compared to RMB385.9 million, or a 76.7% gross margin, in the same period of 2022. Selling Expenses Selling expenses in Fiscal Year 2023 were RMB272.9 million (US$39.7 million), compared to RMB186.0 million in the same period of 2022. The change in selling expenses was primarily attributable to an increase in promotional and marketing services fees to expand the Company's access to district and county CDCs and hospitals. General and Administrative Expenses General and administrative expenses decreased to RMB81.6 million (US$11.9 million) in Fiscal Year 2023, compared to RMB107.6 million in the same period of 2022. The decrease was mainly due to the reduction in professional service fees paid by the Company. Research and Development Expenses Research and development expenses were RMB318.7 million (US$46.4 million) in Fiscal Year 2023, compared to RMB211.2 million in the same period of 2022. The increase was primarily driven by an increase in preclinical and clinical development costs associated with the Company's COVID- 19 and rabies vaccines. Net Loss Net loss for Fiscal Year 2023 was RMB145.5 million (US$21.2 million), compared with RMB106.0 million in the same period of 2022. Balance Sheet As of March 31, 2023, the Company had cash and cash equivalents of RMB370.4 million (US$53.9 million), compared with RMB271.1 million as of March 31, 2022. Corporate Update On March 16, 2023, the Company announced that it had completed the business combination with Summit Healthcare Acquisition Corp. and became a publicly listed company trading on the Nasdaq Capital Market, obtaining approximately RMB252.5 million (US$36.7 million) in gross proceeds. The transaction resulted in approximately 93,058,197 ordinary shares issued and outstanding as of March 31, 2023. Conference Call Information The Company's management will hold an earnings conference call on Wednesday, July 26, 2023 at 8:00 P.M. Eastern Time to discuss the financial results. Listeners may access the call by dialing the following numbers: United States Toll Free:                 1-888-346-8982 International:                                  1-412-902-4272 Mainland China Toll Free:             4001-201203 Canada Toll Free:                          18556699657 Hong Kong:                                    852-301-84992 The replay will be accessible through August 2, 2023 by dialing the following numbers: United States Toll Free:                 1-877-344-7529 International:                                  1-412-317-0088 Canada Toll Free:                           855-669-9658 Access Code:                                 8524425  A live and archived webcast of the conference call will also be available at the Company's investor relations website at https://investor.ysbiopharm.com/. About YS Biopharma  YS Biopharma is a global biopharmaceutical company dedicated to discovering, developing, manufacturing, and delivering new generations of vaccines and therapeutic biologics for infectious diseases and cancer. It has developed a proprietary PIKA® immunomodulating technology platform and a new generation of preventive and therapeutic biologics targeting Rabies, Coronavirus, Hepatitis B, Influenza, Shingles, and other virus infections. YS Biopharma operates in China, the United States, Singapore, and the Philippines, and is led by a management team that combines rich local expertise and global experience in the biopharmaceutical industry. For more information, please visit investor.ysbiopharm.com. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.8676 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on March 31, 2023. Cautionary Statement Regarding Forward-Looking Statements This press release contains "forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding the expected growth of YS Biopharma, the development progress of all product candidates, the progress and results of all clinical trials, YS Biopharma's ability to source and retain talent, and the cash position of YS Biopharma following the closing of the Business Combination. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether identified in this press release, and on the current expectations of YS Biopharma's management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although YS Biopharma believes that it has a reasonable basis for each forward-looking statement contained in this press release, YS Biopharma cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the final prospectus relating to the proposed Business Combination, and other documents filed by YS Biopharma from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. YS Biopharma cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, the ability to recognize the anticipated benefits of the Business Combination, costs related to the transaction, the impact of the global COVID-19 pandemic, the risk that the transaction disrupts current plans and operations as a result of the consummation of the transaction, the outcome of any potential litigation, government or regulatory proceedings, the sales performance of the marketed vaccine product and the clinical trial development results of the product candidates of YS Biopharma, and other risks and uncertainties, including those included under the heading "Risk Factors" in the final prospectus filed with the SEC on February 8, 2023, as supplemented on February 21, 2023, and other filings with the SEC. There may be additional risks that YS Biopharma does not presently know or that YS Biopharma currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of YS Biopharma as of the date of this press release. Subsequent events and developments may cause those views to change. However, while YS Biopharma may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of YS Biopharma as of any date subsequent to the date of this press release. Except as may be required by law, YS Biopharma does not undertake any duty to update these forward-looking statements. Investor Relations Contacts Alyssa LiDirector of Investor RelationsEmail: ir@yishengbio.com Robin YangPartner, ICR, LLCTel: +1 (212) 537-4035Email: YSBiopharma.IR@icrinc.com     YS BIOPHARMA CO., LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) ASSETS Current assets Cash 271,067,503 370,108,059 53,859,752 Restricted cash - 261,766 38,093 Accounts receivable, net 308,555,105 463,051,792 67,385,333 Advance to suppliers, net 10,648,306 6,763,326 984,229 Inventories, net 166,505,565 185,380,952 26,977,451 Prepaid expenses and other current assets 7,987,914 10,412,769 1,515,312 Total current assets 764,764,393 1,035,978,664 150,760,170 Non-current assets Property, plant and equipment, net 550,153,110 571,756,443 83,204,512 Operating lease right-of-use assets, net 14,850,283 11,132,428 1,620,040 Deferred tax assets, net 3,039,084 1,905,581 277,309 Intangible assets, net 80,717,978 78,056,792 11,359,168 Other assets, non-current 28,228,293 20,923,703 3,044,909 Total non-current assets 676,988,748 683,774,947 99,505,938 Total assets 1,441,753,141 1,719,753,611 250,266,108 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' (DEFICIT)/EQUITY Current liabilities Bank loans and other borrowings - current 111,733,754 193,736,563 28,193,397 Accounts payable 30,811,100 80,439,489 11,705,908 Accrued expenses and other liabilities 326,751,353 377,536,644 54,940,793 Operating lease liabilities - current 4,322,252 4,753,547 691,757 Deferred government grants - current 2,295,701 2,295,701 334,081 Total current liabilities 475,914,160 658,761,944 95,865,936 Non-current liabilities Bank loans and other borrowings – non-current 253,928,000 293,790,596 42,753,699 Operating lease liabilities - non-current 10,605,260 6,348,890 923,918 Deferred government grants - non-current 30,053,517 23,606,507 3,435,323 Warrants liability - 8,792,389 1,279,507 Total non-current liabilities 294,586,777 332,538,382 48,392,447 Total liabilities 770,500,937 991,300,326 144,258,383 Mezzanine equity Series A and Series A-1 redeemable convertible preferred shares (par value US$0.000005 per share, 50,000,000 shares authorized; 21,548,589 shares issued and outstanding) 458,074,468 - - Series B redeemable convertible preferred shares (par valueUS$0.000005 per share, 100,000,000 shares authorized; 65,414,858 shares issued and outstanding) 912,146,924 - - Total mezzanine equity 1,370,221,392 - - Shareholders'(deficit)/equity Ordinary shares, par value US$0.00002 per share; 9,950,000,000 shares authorized; 61,827,883 and 93,058,197shares issued and outstanding as of March 31, 2022 and 2023,respectively; * 7,978 12,297 1,790 Additional paid-in capital 808,502,018 2,656,891,036 386,642,466 Accumulated deficit (1,590,567,163) (1,874,037,965) (272,718,245) Accumulated other comprehensive income/(loss) 83,087,979 (54,412,083) (7,918,286) Total shareholders' (deficit)/equity (698,969,188) 728,453,285 106,007,725 Total liabilities, mezzanine equity and shareholders' (deficit)/equity 1,441,753,141 1,719,753,611 250,266,108   * Gives retroactive effect to reflect the reorganization in February 2021 and business combination in March 2023.     YS BIOPHARMA CO., LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS Years Ended March 31, 2021 2022 2023 2023 (RMB) (RMB) (RMB) (US$) Revenues 257,015,929 502,949,894 687,201,070 100,004,521 Cost of revenues 59,656,877 117,066,090 153,360,262 22,317,660 Gross profit 197,359,052 385,883,804 533,840,808 77,686,861 Operating expenses: Selling and marketing 73,485,259 185,999,704 272,927,356 39,717,589 General and administrative 155,334,386 107,620,500 81,595,277 11,874,103 Research and development 94,387,144 211,222,263 318,700,526 46,378,702 Total operating expenses 323,206,789 504,842,467 673,223,159 97,970,394 Loss from operations (125,847,737) (118,958,663) (139,382,351) (20,283,533) Other income (expenses): Late fees related to income tax (11,464,741) - - - Late fees related to taxes other than income tax (7,261,947) (231,231) (3,603) (524) Late fees related to social security insurance (7,701,793) (1,852,378) (747,609) (108,795) Government grants 3,530,405 23,020,413 26,072,517 3,794,187 Financial expenses, net (29,689,927) (2,717,433) (30,857,673) (4,490,544) Fair value changes of warrant liability - - 21,358 3,108 Other income (expense), net 4,063,743 (327,987) 551,760 80,295 Total other (expense) income, net (48,524,260) 17,891,384 (4,963,250) (722,273) Loss before income taxes (174,371,997) (101,067,279) (144,345,601) (21,005,806) Income tax expense (17,454,245) (4,937,122) (1,133,504) (164,952) Net loss (191,826,242) (106,004,401) (145,479,105) (21,170,758) Accretion to redemption value of convertible redeemable preferred shares (16,610,297) (130,662,326) (137,991,697) (20,081,159) Net loss attributable to YS Group (208,436,539) (236,666,727) (283,470,802) (41,251,917) Net loss (191,826,242) (106,004,401) (145,479,105) $ (21,170,758) Other comprehensive income (loss): foreign currency translation adjustment 22,455,217 38,864,606 (137,500,062) (20,009,614) Total comprehensive loss (169,371,025) (67,139,795) (282,979,167) (41,180,372) Loss per share*: – Basic and Diluted (3.10) (1.71) (1.56) (0.23) Weighted average number of ordinary shares outstanding*: – Basic and Diluted 61,827,883 61,827,883 93,058,197 93,058,197   * Gives retroactive effect to reflect the reorganization in February 2021 and business combination in March 2023.  

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