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Global Business News
NaaS Technology Inc. Reports Unaudited 2024 First Quarter Financial Results

BEIJING, May 10, 2024 /PRNewswire/ -- NaaS Technology Inc. ("NaaS" or the "Company") (Nasdaq: NaaS), the first U.S. listed EV charging service company in China, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights: Revenues increased by 166% year over year and reached RMB96.2 million (US$13.3 million) for the first quarter of 2024. Gross margin was 25.3% for the first quarter of 2024, compared with 16.9% for the same period of 2023. Gross profit grew 4.0 times year over year to RMB24.3 million (US$3.4 million) for the first quarter of 2024. First Quarter 2024 Operational Highlights: Charging volume transacted through NaaS' network reached 1,216 GWh for the first quarter of 2024, representing an increase of 19% year over year. Gross transaction value transacted through NaaS' network reached RMB1.2 billion (US$160.1 million) for the first quarter of 2024, representing an increase of 17% year over year. Number of orders transacted through NaaS' network reached 50.3 million for the first quarter of 2024, representing an increase of 13% year over year. "We kicked off 2024 with robust financial and operational growth while strengthening our foundational capabilities in mobility connectivity services, significantly boosting our competitive edge," said Ms. Yang Wang, chief executive officer of NaaS. "We actively empower charging point operators within our mobility connectivity ecosystem, continually delivering innovative energy solutions. This strategic approach has driven revenue diversification and significantly strengthened our position in the broader energy market. Our commitment to seamlessly integrating digital technology across various sectors is paving the way for high-quality industry development and improving the overall charging experience for end-users." Mr. Alex Wu, president and chief financial officer of NaaS, added, "Leveraging our deep industry knowledge, we focused on high-quality revenue growth in the first quarter, considerably increasing our revenue and gross margins. Our strategic, disciplined financial management has also reinforced our financial stability and enhanced profitability across our business units. By continually optimizing efficiency and maintaining our growth trajectory, we are committed to delivering robust financial performances and ensuring long-term value creation for our stakeholders." 2024 First Quarter Business Updates and Financial Results: NTR Turns Positive and Further Increased GTR The Company continues to witness a positive trend in its Net Take Rate (NTR)[1] and Gross Take Rate (GTR)[2]. In April 2024, the NTR reached a historical high. This increase reflects the success of NaaS' strategic initiatives to expand its network and strengthen its resources, contributing to higher profitability from its mobility connectivity services. The improvement of these metrics underscores NaaS' ability to maintain operational excellence and adjust its promotional strategies to enhance customer loyalty and create a robust network effect. Strengthening Open-Source Commitment NaaS has recently joined the Open Invention Network (OIN), the largest patent non-aggression community dedicated to protecting open source. Its membership underscores NaaS' commitment to leveraging open-source technology to advance its charging infrastructure networks. Joining OIN is a part of NaaS' strategy to enhance its intellectual property and research and development capabilities. As of March 31, 2024, NaaS had filed over 250 patent applications in more than ten countries and regions around the world, including the United States, the United Kingdom, Norway, Japan, Thailand, Brazil and Australia, demonstrating its robust focus on innovation. NaaS' patent strategy strengthens its technological prowess while fostering innovation and safeguarding its advancements in the new energy sector. Revenues Total revenues reached RMB96.2 million (US$13.3 million) for the first quarter of 2024, representing an increase of 166% year over year. The increase was mainly attributable to strong execution in the ramping up of charging services and stable delivery in the Company's energy solution projects throughout the first quarter of 2024. Charging services revenues contributed RMB47.8 million (US$6.6 million) for the first quarter of 2024, with a growth rate of 99% year over year. The increase was primarily attributable to a reduced proportion of platform-based incentives relative to the commission fees we generated through our charging services. The Company offered platform-based incentives to end-users to boost the use of its network, and charging services revenues are recorded net of end-user incentives. Costs associated with end-user incentives and recorded as reductions to total revenues totaled RMB91.3 million (US$12.6 million) and RMB69.7 million for the first quarter of 2024 and 2023, respectively. Energy solutions revenues for the first quarter of 2024 increased by 334% year over year to RMB47.2 million (US$6.5 million). The increase was primarily driven by revenues from the delivery of on-going energy solution projects, especially photovoltaic projects and engineering procurement construction projects, that provide renewable energy generation, energy management and energy storage solutions. New initiatives revenues remained relatively stable at RMB1.2 million (US$0.2 million) for the first quarter of 2024 as compared with the same period in 2023 as the Company continued to launch new initiatives to expand its market offerings. Cost of revenues, gross profit and gross margin Total cost of revenues increased 139% to RMB71.9 million (US$10.0 million) for the first quarter of 2024 from RMB30.0 million for the first quarter of 2023. The change was largely in line with revenue growth. Total gross profit grew 4.0 times year over year from RMB6.1 million for the first quarter of 2023 to RMB24.3 million (US$3.4 million) for the first quarter of 2024, benefiting from solid revenue growth and a year-over-year improvement in gross margin from 16.9% to 25.3%. Gross margin improvement was mainly attributable to an increased number of profitable orders in charging services and as a result of the Company's growing know-how and capabilities in delivering and executing energy solution projects of different scales. Operating expenses Total operating expenses increased from RMB119.7 million for the first quarter of 2023 to RMB215.7 million (US$29.9 million) for the first quarter of 2024. Operating expenses as a percentage of revenues decreased year over year from 331% to 224%, mainly due to the increase in total revenues and optimization of operation. Selling and marketing expenses increased 7.2% from RMB66.4 million for the first quarter of 2023 to RMB71.2 million (US$9.9 million) for the first quarter of 2024. The increase was mainly attributable to an increase in the sales and marketing expenses for our energy solutions business, partially offset by a reduction in excess incentives to end-users in connection with our mobility connectivity services. Costs associated with excess incentives to end-users included in selling and marketing expenses were RMB26.6 million (US$3.7 million) for the first quarter of 2024, accounting for 0.6 times charging services revenues, compared with RMB41.7 million and 1.7 times, respectively, for the same period of 2023. The reduction in costs associated with excess incentives to end-users was attributable to a reduced proportion of platform-based incentives relative to the commission fees we generated through our charging services. Administrative expenses increased from RMB45.5 million for the first quarter of 2023 to RMB123.0 million (US$17.0 million) for the first quarter of 2024. Setting aside equity-based compensation, administrative expenses increased from RMB31.8 million for the first quarter of 2023 to RMB62.8 million (US$8.7 million) for the first quarter of 2024, primarily due to higher professional fees and office expenses. Research and development expenses increased from RMB7.8 million for the first quarter of 2023 to RMB21.5 million (US$3.0 million) for the first quarter of 2024. The increase in research and development expenses was primarily due to the Company's continued dedication of resources to innovate and improve the Company's business. Finance costs Finance costs increased from RMB7.1 million for the first quarter of 2023 to RMB17.7 million (US$2.5 million) for the first quarter of 2024 because the Company utilized more borrowings in the first quarter of 2024. Income tax expenses Income tax expenses were RMB2.7 million (US$0.4 million) in the first quarter of 2024, compared with income tax expenses of RMB3.1 million for the same period of 2023. Net loss and non-IFRS net loss attributable to ordinary shareholders; net margin and non-IFRS net margin Net loss attributable to ordinary shareholders was RMB227.4 million (US$31.5 million) for the first quarter of 2024, compared with a net loss attributable to ordinary shareholders of RMB109.7 million for the same period in 2023. Non-IFRS net loss[3] attributable to ordinary shareholders was RMB126.4 million (US$17.5 million) for the first quarter of 2024, compared with non-IFRS net loss attributable to ordinary shareholders of RMB102.3 million for the same period in 2023. Net margin increased from negative 303% for the first quarter of 2023 to negative 236% for the first quarter of 2024 and non-IFRS net margin increased from negative 283% for the first quarter of 2023 to negative 131% for the first quarter of 2024. Please refer to the section titled "Unaudited reconciliations of IFRS and non-IFRS measures" for details. Recent Development In May 2024, we amended and restated our previously adopted Second Amended and Restated New 2022 Share Incentive Plan to expand the number of Class A ordinary shares available for grant of awards. Upon the amendment, the maximum total number of Class A ordinary shares of the Company underlying all awards, whether granted or available to be granted, under the plan became 644,746,682 (from 490,563,333 immediately prior to the amendment) and will be increased on the first day of each fiscal year from January 1, 2025 by an amount equal to 1% of the total number of shares issued and outstanding on the last day of the immediately preceding fiscal year, unless otherwise determined by the board of directors of the Company. No other substantive amendment to the previous Second Amended and Restated New 2022 Share Incentive Plan was made. [1]      NTR measures NaaS' return from transactions arising from its mobility connectivity services after adjusting for incentives which are paid to end-users through NaaS' partnered platform in the form of discounts and promotions to boost the use of its network. NTR is calculated by taking NaaS' gross receipts from transactions, deducting transaction outgoings and incentives, and adding income from membership programs. The result is then expressed as a percentage of the total transaction value. [2]      GTR is calculated as the percentage of NaaS' commission income derived from the gross transaction value at charging stations, indicating the Company's share of charging stations' gross income. [3]      Non-IFRS net loss was arrived at after excluding share-based compensation expenses, fair value changes of convertible instruments, and fair value changes of financial assets at fair value through profit or loss. Non-IFRS net margin was calculated by dividing non-IFRS net loss by total revenue. Please refer to the section titled "Unaudited reconciliations of IFRS and non-IFRS financial measures" for details. Conference Call Information The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern time on May 10, 2024 (8:00 PM Beijing/Hong Kong time on May 10, 2024). Participants who wish to join the conference call should register online at: https://s1.c-conf.com/diamondpass/10038734-6cm51w.html  Once registration is completed, participants will receive the dial-in information for the conference call. Participants joining the conference call should dial-in at least 10 minutes before the scheduled start time. Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.enaas.com. A replay of the conference call will be accessible approximately two hours after the conclusion of the live call until May 17, 2024, by dialing the following telephone numbers: United States: 1 855 883 1031China: 400 1209 216Replay Access Code: 10038734 Exchange Rate This press release contains translations of certain RMB amounts into USD at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB7.2203 to US$1.00, the noon buying rate in effect on March 29, 2024, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release. Non-IFRS Financial Measures The Company uses non-IFRS measures such as non-IFRS net loss and non-IFRS net margin, non-IFRS net debt and non-IFRS total liabilities to total assets ratio, in evaluating its operating results, financial position and for financial and operational decision-making purposes. The Company believes that non-IFRS financial measures help identify underlying trends in the Company's business and financial position that could otherwise be distorted by the effect of certain expenses that the Company includes in its results for the period and effects certain instruments convertible to the Company's equity. The Company believes that non-IFRS financial measures provide useful information about its results of operations and financial position, enhances the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making. Non-IFRS financial measures have limitations as analytical tools and should not be considered in isolation or construed as an alternative to IFRS financial measures or any other measure of performance or as an indicator of its operating performance and financial position. Investors are encouraged to review non-IFRS financial measures and the reconciliation to their most directly comparable IFRS measures. Non-IFRS financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company's data. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. For more information on the IFRS and non-IFRS financial measures, please see the section titled "Unaudited reconciliations of IFRS and non-IFRS financial measures." About NaaS Technology Inc. NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company provides one-stop solutions to energy asset owners comprising charging services, energy solutions and new initiatives, supporting every stage of energy asset's lifecycle and facilitating energy transition. Safe Harbor Statement This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update 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 its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS' goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China's EV charging industry and EV charging service industry and NaaS' future business development; demand for and market acceptance of NaaS' products and services; NaaS' ability to protect and enforce its intellectual property rights; NaaS' ability to attract and retain qualified executives and personnel; the COVID-19 pandemic and the effects of government and other measures that have been or will be taken in connection therewith; U.S.-China trade war and its effect on NaaS' operation, fluctuations of the RMB exchange rate, and NaaS' ability to obtain adequate financing for its planned capital expenditure requirements; NaaS' relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS' filings with the SEC. For investor and media inquiries, please contact: Investor RelationsNaaS Technology Inc.E-mail: ir@enaas.com Media inquiries:E-mail: pr@enaas.com    NAAS TECHNOLOGY INC. UNAUDITED CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS For the Three Months Ended March 31, 2023 March 31, 2024 (In thousands, except for share and per share and per ADS data) RMB RMB US$ Revenues Charging services revenues 24,061 47,836 6,625 Energy solutions revenues 10,872 47,209 6,538 New initiatives revenues 1,228 1,192 165 Total revenues 36,161 96,237 13,328 Cost of revenues (30,047) (71,889) (9,957) Gross profit 6,114 24,348 3,371 Operating expenses Selling and marketing expenses (66,389) (71,201) (9,861) Administrative expenses (45,497) (123,005) (17,036) Research and development expenses (7,832) (21,523) (2,981) Total operating expenses (119,718) (215,729) (29,878) Other (losses)/gains, net 493 4,786 663 Operating loss (113,111) (186,595) (25,844) Fair value changes of convertible instruments — (7,790) (1,079) Fair value changes of financial instruments at fair value through profit or loss 13,571 (12,928) (1,791) Finance costs (7,060) (17,732) (2,456) Loss before income tax (106,600) (225,045) (31,170) Income tax expenses (3,055) (2,687) (372) Net loss (109,655) (227,732) (31,542) Net loss attributable to:     Equity holders of the company (109,655) (227,399) (31,496)     Non-controlling interests — (333) (46) (109,655) (227,732) (31,542)     NAAS TECHNOLOGY INC. UNAUDITED CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS For the Three Months Ended March 31, 2023 March 31, 2024 (In thousands, except for share and per share and per ADS data) RMB RMB US$ Basic and diluted loss per share for loss attributable to the ordinary shareholders of the Company (Expressed in RMB per share) Basic (0.05) (0.09) (0.01) Diluted (0.05) (0.09) (0.01) Basic and diluted loss per ADS for loss attributable to the ordinary shareholders of the Company (Expressed in RMB per ADS) Basic (0.50) (0.91) (0.13) Diluted (0.50) (0.91) (0.13) Weighted average number of ordinary shares outstanding-basic 2,196,978,125 2,508,694,151 2,508,694,151 Weighted average number of ordinary shares outstanding-diluted 2,196,978,125 2,508,694,151 2,508,694,151 Net loss (109,655) (227,732) (31,542) Other comprehensive loss that will not be reclassified to profit or loss in subsequent period:     Fair value changes on equity investment designated at fair value through other comprehensive loss, net of tax (23,353) (40,676) (5,634)     Currency translation differences (1,240) 552 76 Other comprehensive loss, net of tax (24,593) (40,124) (5,558) Total comprehensive loss (134,248) (267,856) (37,100) Total comprehensive loss attributable to:     Equity holders of the company (134,248) (267,523) (37,054)     Non-controlling interests — (333) (46) (134,248) (267,856) (37,100)     NAAS TECHNOLOGY INC. UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION As of December 31, 2023 March 31, 2024 (In thousands) RMB RMB US$ ASSETS Current assets Cash and cash equivalents 436,242 297,071 41,144 Trade receivables 73,144 69,288 9,596 Contract assets 77,684 72,938 10,102 Financial assets at fair value through profit or loss 70,164 57,515 7,966 Inventories 22,458 22,343 3,094 Prepayments, other receivables and other assets 436,377 471,674 65,326 Other financial assets 27,898 26,961 3,734 Total current assets 1,143,967 1,017,790 140,962 Non-current assets Right-of-use assets 14,026 12,253 1,697 Financial assets at fair value through profit or loss 34,788 34,818 4,822 Financial assets at fair value through other comprehensive income 104,970 64,294 8,905 Other financial assets 100,718 102,066 14,136 Investments accounted for using equity method 267 267 37 Property, plant and equipment 4,378 3,948 547 Intangible assets 13,320 12,626 1,749 Goodwill 40,085 40,100 5,554 Other non-current assets 8,580 7,042 975 Total non-current assets 321,132 277,414 38,422 Total assets 1,465,099 1,295,204 179,384 LIABILITIES AND EQUITY Current liabilities Interest-bearing bank borrowings 72,953 229,545 31,792 Current lease liabilities 7,154 7,567 1,048 Trade payables 152,066 147,995 20,497 Income tax payables 19,170 21,942 3,039 Convertible bonds 272,684 251,070 34,773 Other payables and accruals 293,003 227,136 31,459 Total current liabilities 817,030 885,255 122,608 Non-current liabilities Non-current lease liabilities 6,936 5,057 700 Interest-bearing bank borrowings 681,821 563,821 78,088 Deferred tax liabilities 2,917 2,833 392 Total non-current liabilities 691,674 571,711 79,180 Total liabilities 1,508,704 1,456,966 201,788 EQUITY Share capital 165,183 173,932 24,089 Subscription receivable (4,696) (4,696) (650) Warrant outstanding — 29,587 4,098 Additional paid in capital 7,196,341 7,307,704 1,012,105 Other reserves (65,699) (105,823) (14,656) Accumulated losses (7,338,168) (7,565,567) (1,047,819) Non-controlling interests 3,434 3,101 429 Total equity (43,605) (161,762) (22,404) Total equity and liabilities 1,465,099 1,295,204 179,384     NAAS TECHNOLOGY INC. UNAUDITED RECONCILIATIONS OF IFRS AND NON-IFRS FINANCIAL MEASURES For the Three Months Ended March 31, 2023 March 31, 2024 (In thousands, except for share and per share and per ADS data) RMB RMB US$ Reconciliation of Adjusted net loss attributable to ordinary shareholders of the Company to Net loss attributable to ordinary shareholders of the Company Net loss attributable to ordinary shareholders of the Company (109,655) (227,399) (31,496) Add: Share-based compensation expenses 20,940 80,316 11,124         Fair value changes of convertible instruments — 7,790 1,079         Fair value changes of financial assets at fair value through profit or loss (13,571) 12,928 1,791 Adjusted net loss attributable to ordinary shareholders of the Company (102,286) (126,365) (17,502) Adjusted net basic and diluted loss per share for loss attributable to the ordinary shareholders of the Company (Expressed in RMB per share) Basic (0.05) (0.05) (0.01) Diluted (0.05) (0.05) (0.01) Adjusted net basic and diluted loss per ADS for loss attributable to the ordinary shareholders of the Company (Expressed in RMB per ADS) Basic (0.47) (0.50) (0.07) Diluted (0.47) (0.50) (0.07) Weighted average number of ordinary shares outstanding-basic 2,196,978,125 2,508,694,151 2,508,694,151 Weighted average number of ordinary shares outstanding-diluted 2,196,978,125 2,508,694,151 2,508,694,151     NAAS TECHNOLOGY INC. UNAUDITED RECONCILIATIONS OF IFRS AND NON-IFRS FINANCIAL MEASURES For the Three Months Ended March 31, 2023 March 31, 2024 (In thousands) RMB RMB US$ Cost of revenues (30,047) (71,889) (9,957) Share-based compensation expenses 494 3,474 481 Non-IFRS cost of revenues (29,553) (68,415) (9,476) Selling and marketing expenses (66,389) (71,201) (9,861) Share-based compensation expenses 4,888 11,971 1,658 Non-IFRS selling and marketing expenses (61,501) (59,230) (8,203) Administrative expenses (45,497) (123,005) (17,036) Share-based compensation expenses 13,668 60,250 8,345 Non-IFRS administrative expenses (31,829) (62,755) (8,691) Research and development expenses (7,832) (21,523) (2,981) Share-based compensation expenses 1,890 4,621 640 Non-IFRS research and development expenses (5,942) (16,902) (2,341) Operating loss (113,111) (186,595) (25,844) Share-based compensation expenses 20,940 80,316 11,124 Non-IFRS operating loss (92,171) (106,279) (14,720)  

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Global Business News
Dematic Named a Niche Player in the 2024 Gartner® Magic Quadrant™ for Warehouse Management Systems

Dematic is well-positioned to transform, lead, align, and consolidate WMS, WCS, software and optimization offerings for customers    ATLANTA, May 10, 2024 /PRNewswire/ -- Dematic today announced it has been named as a Niche Player in the Gartner® Magic Quadrant™ for Warehouse Management Systems (WMS) 2024. Dematic WMS orchestrates manual and automation process flows within warehousing and distribution center operations for greater visibility, control, and decision-making. It integrates planning, labor management, and fulfillment capabilities across a broad range of industries, including general merchandise, grocery, food and beverage, and apparel. "We believe this recognition validates Dematic's software strategy and our ability to provide innovative solutions to our customers," said Deidre (Dee) Cusack, executive vice president, global products and solutions at Dematic. "Software is an important part of the Dematic portfolio. Our technology evolution has expanded from being a leading Materials Handling Equipment (MHE) automation vendor to being focused on developing software that provides customers with an integrated ecosystem where hardware and software work together in harmony. Our next-generation software platform with Dematic WMS empowers customers to adapt to changing business needs, guided by Dematic as a trusted partner." Dematic's next-generation cloud platform capabilities include intelligent orchestration, configurable workflows, composable architecture, AI/ML driven autonomy, user-friendly interface, and dashboards. Dematic's WMS software capabilities have been adopted by 500+ global warehouses to manage customers' complex operations. The evaluation was based on specific criteria that analyzed overall completeness of vision and ability to execute. View a complimentary copy of the Magic Quadrant report to learn more about Dematic's strengths and cautions here. For more information about Dematic, visit dematic.com and follow us on LinkedIn, Facebook, and X. Gartner Disclaimer Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. About Dematic Dematic designs, builds, and supports intelligent automated solutions empowering and sustaining the future of commerce for its customers in manufacturing, warehousing, and distribution. With research and development engineering centers, manufacturing facilities, and service centers located in more than 26 countries, the Dematic global network of over 10,000 employees has helped achieve successful customer installations for some of the world's leading brands. Headquartered in Atlanta, Dematic is a member of KION Group, one of the world's leading suppliers of industrial trucks and supply chain solutions. Contact Yolanda Kokayi  Yolanda.Kokayi@dematic.com Disclaimer: This release and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdiction. This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, for example, changes in business, economic, and competitive conditions, regulatory reforms, results of technical studies, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. We do not undertake any responsibility to update the forward-looking statements in this release.  

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Global Business News
Lalahome Unveiled Another Pioneering Product: the Lalahome Realfountain Smart Eco-system Pet Fountain

ANAHEIM, Calif., May 10, 2024 /PRNewswire/ -- Since its debut on Realscooper, the Lalahome brand has remained committed to rigorous research and development efforts. This dedication has led to the unveiling of another pioneering product: the LALAHOME RealFountain Smart Eco-System Pet Fountain. This innovative addition to their lineup has been awarded the prestigious 2024 Muse Gold Award for Product Design - Animals & Pets (NEW), highlighting its revolutionary approach to addressing the hydration needs of pets. Additionally, it's worth mentioning that LALAHOME's Realscooper also received the 2024 Muse Gold winner award, along with the BlogPaws Best Tech Product accolade. What sets the RealFountain apart is its innovative OxygenZ mode, designed to mimic the natural flow of river water, thereby increasing oxygen levels in the water and enhancing its taste. This feature not only entices cats to drink more water but also helps prevent urinary stones, ensuring the well-being of our feline friends. One of the most notable features of the RealFountain is its DailyFresh mechanism. This autonomous system eliminates the need for manual intervention by automatically extracting wastewater from the water basin and replenishing it with clean water from the reservoir. This ensures that stagnant water becomes a thing of the past, as pets can now enjoy fresh water every single day. With an impressive Ultra-Large Capacity of 10 liters, facilitated by a dual-bucket design, this fountain guarantees a continuous supply of water to meet the drinking way needs of pets of all sizes. To accommodate the diverse preferences of various pet breeds, the fountain boasts Multi-Height Drinking Stations with three distinct water levels. Whether it's a deep water zone for small to medium-sized dogs, a shallow water zone for cats who prefer paw-sipping, or a high water zone for those who enjoy flowing water, every pet's needs are catered to. With additional features such as UV Sterilization for a bacteria-free drinking experience, Ecological Cat Grass for promoting oral health, and App Control for remote management via the app, the RealFountain offers unparalleled convenience and functionality. The Advanced Filtration system, comprising a five-layer filtration mechanism, guarantees clean and pure water, ensuring that pets receive the best water with every sip. For those interested in learning more, the RealFountain is LIVE NOW on Indiegogo as of May 9th, 2024. For further details, please visit the provided crowdfunding link: https://bit.ly/3URTuxP.  Lalahome's RealFountain Smart Eco-System Pet Fountain promises to redefine pet drinking way, setting new standards in pet care innovation. For media enquiries, please contact: media@lalahome.com. LALAHOME DailyFresh™ RealFountain  

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YY Power will exhibit high-quality power supplies at Computex Asia 2024.
Global Business News
YY Power will exhibit high-quality power supplies at Computex Asia 2024. Welcome to Contact US

The organizer, TradeAsia, invites Asian computer suppliers to desktop, manufacturers and product categories: desktop communication computer equipment, computer accessories and peripherals, computer components, desktop storage computers, drivers and equipment, industrial computers and accessories, notebooks and accessories, convenience , network equipment, POS systems, tablet computers and other major categories, there are thousands of the latest products and equipment, which can be said to be dazzling, professional and rich. Exhibition date: May 14, 2024 to September 30, 2024 Exhibited content and exhibitors: communication equipment, computer accessories and peripherals, computer components, desktop computers, drives and storage equipment, industrial computers and accessories, notebook computers and accessories, monitors, network equipment, POS systems, tablet computers .             YY Power is one of the most everlasting companies of the AC/DC Adapter supply industry in Taiwan. YY Power is one of the most everlasting companies of the power supply industry in Taiwan. Based on our well-reputed capabilities of developing, manufacturing and marketing, YY Power has accumulated more than 35 years experiences. With the commitment of quality, efficiency, and innovation, YY Power continuously fulfills every customer’s requirements and expectations, and looks forward to growing with our customers. We provide LED Lighting, AC/DC Switching Adapter, Linear Adapter, Transformer, Waterproof Adapter, Lead Acid Battery Charger, USB Charger Series and IPC & Server Power Supply. Mission Statement Do all our best to fulfill and exceed customer’s maximum requirements and expectations Corporate Culture.   ACI 2024 Asia Computer Show Hot Products YY- 120W seriesWall Plug Power Adapter, AC DC Adapter YY- 24W seriesAC/DC Desk Top Adapter YY- 50W seriesAC/DC Power Adapter AC/DC Waterproof Adapter IP68-36W LED Waterpoof Adapter IP68-80W LED Waterpoof Adapter IP68-60W YY - 18W IP44 Waterproof Adapter YY - 12W IP44 Waterproof Adapter YY - 6W IP44 Waterproof Adapter    Add: No.47, Ln. 149, Sec. 3, Nangang Rd., Nangang Dist., Taipei City 115, Taiwan (R.O.C.)Tel: 886-2-26539213 Fax: 886-2-26539265E-Mail: yy@yypower.com

文章來源 : AsianNet 亞洲網路 發表時間 : 瀏覽次數 : 553 加入收藏 :
Global Business News
RapidEdge Pro Revolutionizing Edge Banding Efficiency

RapidEdge Pro revolutionizes edge banding with its innovative design and cutting-edge technology, promising unmatched efficiency and quality.Efficiency Through DesignFeaturing a 10-inch smart touch panel, RapidEdge Pro streamlines operations,reducing setup time and material waste while ensuring precision.Empowering UsersWith automatic edge thickness switching and user-friendly software, RapidEdge Pro simplifies operations and offers valuable insights into productivity.Dealer SupportEquipped with an engineer mode for maintenance and remote service capabilities, RapidEdge Pro ensures efficient support and customer satisfaction.Data-Driven InsightsLeveraging customer usage data, manufacturers can identify enhancement opportunities and inform quality improvement initiatives. Main Features PLC-controller with a 10” touch screen Quick-change glue pot Pre-milling unit up to 2mm End cutting unit with trim saw Top/bottom trimming unit Corner rounding unit with R1 and R2 Radius scrap unit and flat scrap unit Buffing unit RapidEdge Pro sets a new standard in edge banding technology. Schedule a demonstration today and experience unparalleled efficiency and quality.   No.352-1, 12th Neighborhood, Shencing Rd., Shengang Dist., Taichung City 429014, TaiwanTEL： +886-4-2563-1088FAX：+886-4-2563-2822Email：oavsales2@oavequipment.com

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King Faisal Specialist Hospital & Research Centre
Global Business News
King Faisal Specialist Hospital & Research Centre Leading Health Sector Transformation in Saudi Arabia

RIYADH, Saudi Arabia, May 09, 2024 (GLOBE NEWSWIRE) -- Harvard University -- Eight years into Vision 2030, Saudi Arabia has made significant strides with digital innovations and enhanced access to quality care. Strategic investments in infrastructure, technology, and talent, have led to advancements revolutionizing patient care delivery and elevating the standards of healthcare locally. These efforts have notably raised the average life expectancy, reduced mortality rates, and enhanced overall well-being across the Kingdom. Central to these achievements, King Faisal Specialist Hospital & Research Centre (KFSH&RC), renowned for its specialized care and treatments across critical fields such as oncology, cardiology, organ transplantation, and genetics has positioned itself as a leader in specialized patient care, taking the charge towards a brighter, healthier future for the Kingdom. Through its commitment to pioneering digital health initiatives, comprehensive educational programs, and novel research endeavors, it is reshaping the local landscape, and setting new standards of efficiency and accessibility. In an era defined by technological advancements, and with the Kingdom’s push towards digitalization, KFSH&RC stands at the forefront of digital health integration among its local peers, leveraging cutting-edge telemedicine services, virtual consultations, and AI-driven tools such as the ANFAL AI System that transforms patient outcomes through predictive insights and personalized care, ensuring the best outcomes for patient satisfaction. KFSH&RC’s digital health initiatives extend to addressing broader health threats through technologies such as Whole Genomic Sequencing (WGS) and Advanced Radiation Therapy. The hospital has also pioneered organ transplantation by performing the world's first fully robotic liver transplant and introduced to the region innovations like the Harmony Transcatheter Pulmonary Valve (TPV), enhancing patient recovery and experience. These technologies facilitate personalized treatment plans and improve the accuracy and speed of medical diagnostics, contributing significantly to the elevation of patient care standards and a sustainable, resilient healthcare infrastructure in line with the objectives of the Health Sector Transformation Program. KFSH&RC continues to push the boundaries of medical research addressing pressing health challenges and contributing to Saudi Arabia’s public health landscape, with discoveries like the PfAP2-MRP gene crucial for malaria treatment and the identification of the new Riyadhensis bacteria strain. These discoveries have not only improved diagnostic accuracy but also facilitated early interventions, ensuring timely and effective patient support, in line with the national objectives to reduce chronic disease prevalence. These comprehensive efforts are supported by KFSH&RC’s robust educational initiatives, which prepare the next generation of medical professionals through training programs and international collaborations. Recognized by ‘Brand Finance’ in 2024 as the most valuable healthcare brand in Saudi Arabia and the Middle East for the second consecutive year, placing 9th in Saudi Arabia and 28th in the Middle East. Additionally, KFSH&RC stands out as the only hospital worldwide to be ranked among its country's top ten most valuable brands. About King Faisal Specialist Hospital & Research Centre (KFSH&RC): King Faisal Specialist Hospital & Research Centre (KFSH&RC) stands as a leading healthcare institution in the Middle East, envisioned to be the optimal choice for every patient seeking specialized healthcare. The hospital boasts a rich history in the treatment of cancers, cardiovascular diseases, organ transplantation, neurosciences, and genetics. In 2024, "Brand Finance" ranked King Faisal Specialist Hospital & Research Centre as the top academic medical centre in the Middle East and Africa, and among the top 20 globally for the second consecutive year. Additionally, in 2024, it was recognized as one of the leading global healthcare providers by Newsweek magazine. As part of Saudi Vision 2030, a royal decree was issued on December 21, 2021, to transform the hospital into an independent, non-profit, government-owned entity, paving the way for a comprehensive transformation program aimed at achieving global leadership in healthcare through excellence and innovation. CONTACT INFORMATION For more information, please contact: Mr. Essam Al-Zahrani, Media Affairs Head, 0555254429 Mr. Abdullah Al-Aown, Media Coordination Officer, 0556294232 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/003e76ab-3d93-42d4-9edf-5e652a14c559

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