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SHENZHEN, China, May 25, 2023 /PRNewswire/ -- X Financial (NYSE: XYF) (the "Company" or "we"), a leading online personal finance company in China, today announced its unaudited financial results for the first quarter ended March 31, 2023. First Quarter 2023 Operational Highlights Three Months Ended March 31, 2022 Three Months Ended December 31, 2022 Three Months Ended March 31, 2023 QoQ YoY Total loan facilitation amount (RMB in million) 15,250 21,700 24,088 11.0 % 57.9 % Number of active borrowers 889,182 1,370,496 1,523,738 11.2 % 71.4 % The total loan amount facilitated and originated[1] in the first quarter of 2023 was RMB24,088 million, representing an increase of 57.9% from RMB15,250 million in the same period of 2022. Total number of active borrowers[2] was 1,523,738 in the first quarter of 2023, representing an increase of 71.4% from 889,182 in the same period of 2022. As of March 31, 2022 As of December 31, 2022 As of March 31, 2023 Total outstanding loan balance (RMB in million) 26,659 37,992 41,531 Delinquency rates for all outstanding loans that are pastdue for 31-60 days 1.31 % 1.02 % 1.05 % Delinquency rates for all outstanding loans that are pastdue for 91-180 days 3.46 % 1.93 % 2.40 % The total outstanding loan balance[3] as of March 31, 2023 was RMB41,531 million, compared with RMB26,659 million as of March 31, 2022. The delinquency rate for all outstanding loans that are past due for 31-60 days[4] as of March 31, 2023 was 1.05%, compared with 1.31% as of March 31, 2022. The delinquency rate for all outstanding loans that are past due for 91-180 days[5] as of March 31, 2023 was 2.40%, compared with 3.46% as of March 31, 2022. [1] Represents the total amount of loans that the Company facilitated and originated during the relevant period. [2] Represents borrowers who made at least one transaction on the Company's platform during the relevant period. [3] Represents the total amount of loans outstanding for loans that the Company facilitated and originated at the end of the relevant period. Loans that are delinquent for more than 60 days are charged-off and are excluded in the outstanding loan balance, except for Xiaoying Housing Loan. As Xiaoying Housing Loan is a secured loan product and the Company is entitled to payment by exercising its rights to the collateral, the Company does not exclude Xiaoying Housing loan delinquent for more than 60 days in the outstanding loan balance. [4] Represents the balance of the outstanding principal and accrued outstanding interest for loans that were 31 to 60 days past due as a percentage of the total balance of outstanding principal and accrued outstanding interest for loans that the Company facilitated and originated as of a specific date. Loans that are delinquent for more than 60 days are charged-off and excluded in the calculation of delinquency rate by balance. Xiaoying Housing Loan was launched in 2015 and ceased in 2019, and all the outstanding loan balance of housing loan as of March 31, 2022, December 31, 2022 and March 31, 2023 were overdue more than 60 days. To make the delinquency rate by balance comparable, the Company excludes Xiaoying Housing Loan in the calculation of delinquency rate. [5] To make the delinquency rate by balance comparable to the peers, the Company also defines the delinquency rate as the balance of the outstanding principal and accrued outstanding interest for loans that were 91 to 180 days past due as a percentage of the total balance of outstanding principal and accrued outstanding interest for the loans that the Company facilitated and originated as of a specific date. Loans that are delinquent for more than 180 days are excluded in the calculation of delinquency rate by balance, except for Xiaoying Housing Loan. All the outstanding loan balance of housing loan as of March 31, 2022, December 31, 2022 and March 31, 2023 were overdue more than 180 days. To make the delinquency rate by balance comparable, the Company excludes Xiaoying Housing Loan in the calculation of delinquency rate. First Quarter 2023 Financial Highlights (In thousands, except for share and per share data) Three Months Ended March 31, 2022 Three Months Ended December 31, 2022 Three Months Ended March 31, 2023 QoQ YoY RMB RMB RMB Total net revenue 888,354 955,640 1,004,934 5.2 % 13.1 % Total operating costs and expenses (574,264) (681,687) (700,897) 2.8 % 22.1 % Income from operations 314,090 273,953 304,037 11.0 % (3.2 %) Net income 139,931 274,639 284,346 3.5 % 103.2 % Non-GAAP adjusted net income 153,906 277,939 306,525 10.3 % 99.2 % Net income per ADS—basic 2.52 5.28 5.94 12.5 % 135.7 % Net income per ADS—diluted 2.46 5.16 5.82 12.8 % 136.6 % Non-GAAP adjusted net income perADS—basic 2.76 5.34 6.36 19.1 % 130.4 % Non-GAAP adjusted net income perADS—diluted 2.70 5.22 6.24 19.5 % 131.1 % Total net revenue in the first quarter of 2023 was RMB1,004.9 million (US$146.3 million), representing an increase of 13.1% from RMB888.4 million in the same period of 2022. Income from operations in the first quarter of 2023 was RMB304.0 million (US$44.3 million), compared with RMB314.1 million in the same period of 2022. Net income in the first quarter of 2023 was RMB284.3 million (US$41.4 million), compared with RMB139.9 million in the same period of 2022. Non-GAAP[6] adjusted net income in the first quarter of 2023 was RMB306.5 million (US$44.6 million), compared with RMB153.9 million in the same period of 2022. Net income per basic and diluted American depositary share ("ADS") [7] in the first quarter of 2023 was RMB5.94 (US$0.86) and RMB5.82 (US$0.85), compared with RMB2.52 and RMB2.46, respectively, in the same period of 2022. Non-GAAP adjusted net income per basic and adjusted diluted ADS in the first quarter of 2023 was RMB6.36 (US$0.93) and RMB6.24 (US$0.91), compared with RMB2.76 and RMB2.70, respectively, in the same period of 2022. [6] The Company uses in this press release the following non-GAAP financial measures: (i) adjusted net income (loss), (ii) adjusted net income (loss) per basic ADS, and (iii) adjusted net income (loss) per diluted ADS, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments and impairment losses on long-term investments. For more information on non-GAAP financial measure, please see the section of "Use of Non-GAAP Financial Measures Statement" and the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release. [7] Each American depositary share ("ADS") represents six Class A ordinary shares. Mr. Justin Tang, the Founder, Chief Executive Officer and Chairman of the Company, commented, "We are very pleased to be off to a good start in 2023. We delivered solid operational and financial performance in the first quarter. The loan facilitation amount was in line with our guidance range and net revenue grew steadily both year-over-year and quarter-over-quarter. We also saw a decent improvement in our bottom line." "We have seen signs of economic recovery in China, with increased consumer spending and better-than-expected GDP growth in the first quarter. However, as stated by the National Bureau of Statistics, 'inadequate domestic demand remains prominent and the foundation for economic recovery is not solid yet.' We saw increased competition in the personal finance industry with challenges in borrower acquisition. Against this backdrop, our first quarter performance is very encouraging and impressive thanks to our strong business resilience and execution." "During the recent May 'Golden Week' holiday, Chinese tourist spending has reached pre-pandemic levels for the first time, according to government figures. Although the economic recovery is still in its early stages and there are concerns about the sustainability of the growth, we remain cautiously optimistic about the steady business growth this year as the government releases various measures to stimulate domestic demand and accelerate economic growth. Meanwhile, we are keeping a close eye on the regulatory side and have been consistently cooperating with the government on the industry-wide rectification work previously scheduled to be completed by June 2023. To date, no further guidance has been released by the Chinese government, but we do not rule out the possibility that new interpretations or updated implementation details of the rectification work will be released, which could have an impact on the industry and our business." Mr. Kent Li, President of the Company, added, "During the first quarter, our total loan amount facilitated and originated reached RMB24.1 billion, increased by 57.9% year-over-year and 11.0% quarter-over-quarter. Despite intense competition, we continued to grow our premium borrower base. During the quarter, the number of active borrowers grew by 71.4% to more than 1.5 million. In addition, our asset quality remained stable sequentially and improved significantly year-over-year. Our delinquency rate for all outstanding loans past due for 31-60 days decreased to 1.05% as of the end of March 2023 from 1.31% a year ago. We do not expect our risk performance to fluctuate significantly for the remainder of the year. In addition, with sufficient credit lines in place, we continue to negotiate funding costs with our institutional funding partners and expect to see a positive impact in the near future." Mr. Frank Fuya Zheng, Chief Financial Officer of the Company, added, "We were pleased to deliver solid financial performance in the first quarter. Total net revenue was RMB1,004.9 million, increased by 13.1% year-over-year and 5.2% quarter-over-quarter. Our net income per basic ADS improved significantly to RMB5.94 from RMB2.52 in the same period of last year, reflecting our strong profitability and the impact of our ongoing share buyback program to enhance shareholder value. Going forward, we will continue to diversify our channels to reach more borrowers, while maintaining our strategy of profitable growth with credit risk management at its core. We expect to deliver steady quarterly improvement in both our top and bottom lines throughout the year. To create more value for our shareholders, we are taking steps to be able to pay dividends in the future." First Quarter 2023 Financial Results Total net revenue in the first quarter of 2023 increased by 13.1% to RMB1,004.9 million (US$146.3 million) from RMB888.4 million in the same period of 2022, primarily due to an increase in the total loan amount facilitated and originated this quarter compared with the same period of 2022. Three Months Ended March 31, (In thousands, except for share and per share data) 2022 2023 YoY RMB % of Revenue RMB % of Revenue Loan facilitation service 508,703 57.3 % 580,604 57.8 % 14.1 % Post-origination service 87,344 9.8 % 121,273 12.1 % 38.8 % Financing income 231,275 26.0 % 254,056 25.3 % 9.9 % Other revenue 61,032 6.9 % 49,001 4.8 % (19.7 %) Total net revenue 888,354 100.0 % 1,004,934 100.0 % 13.1 % Loan facilitation service fees in the first quarter of 2023 increased by 14.1% to RMB580.6 million (US$84.5 million) from RMB508.7 million in the same period of 2022, primarily due to an increase in the total loan amount facilitated this quarter compared with the same period of 2022. Post-origination service fees in the first quarter of 2023 increased by 38.8% to RMB121.3 million (US$17.7 million) from RMB87.3 million in the same period of 2022, primarily due to the cumulative effect of increased volume of loans facilitated in the previous quarters. Revenues from post-origination services are recognized on a straight-line basis over the term of the underlying loans as the services are being provided. Financing income in the first quarter of 2023 increased by 9.9% to RMB254.1 million (US$37.0 million) from RMB231.3 million in the same period of 2022, primarily due to an increase in average loan balances compared with the same period of 2022. Other revenue in the first quarter of 2023 decreased by 19.7% to RMB49.0 million (US$7.1 million), compared with RMB61.0 million in the same period of 2022, primarily due to a decrease in technology service fees received for providing assistant technology development services. Origination and servicing expenses in the first quarter of 2023 increased by 36.5% to RMB633.8 million (US$92.3 million) from RMB464.5 million in the same period of 2022, primarily due to the following factors: (i) an increase in commission fees resulting from the increased in total loan amount facilitated and originated this quarter compared with the same period of 2022, (ii) an increase in interest expenses as a result of an increase in payable to institutional funding partners and investors, and (iii) partially offset by a decrease in insurance fee paid to insurance company. Reversal of provision for accounts receivable and contract assets in the first quarter of 2023 was RMB0.9 million (US$0.1 million), compared with provision for accounts receivable and contract assets of RMB26.1 million in the same period of 2022, primarily due to a decrease in the average estimated default rate compared with the same period of 2022. Provision for loans receivable in the first quarter of 2023 was RMB20.4 million (US$3.0 million), compared with RMB33.7 million in the same period of 2022, primarily due to a decrease in the average estimated default rate compared with the same period of 2022, and partially offset by an increase in loans receivable held by the Company as a result of the increase in total loan amount facilitated and originated this quarter compared with the same period of 2022. Income from operations in the first quarter of 2023 was RMB304.0 million (US$44.3 million), compared with RMB314.1 million in the same period of 2022. Income before income taxes and gain from equity in affiliates in the first quarter of 2023 was RMB330.6 million (US$48.1 million), compared with RMB317.8 million in the same period of 2022. Income tax expense in the first quarter of 2023 was RMB52.6 million (US$7.7 million), compared with RMB181.0 million in the same period of 2022. Net income in the first quarter of 2023 was RMB284.3 million (US$41.4 million), compared with RMB139.9 million in the same period of 2022. Non-GAAP adjusted net income in the first quarter of 2023 was RMB306.5 million (US$44.6 million), compared with RMB153.9 million in the same period of 2022. Net income per basic and diluted ADS in the first quarter of 2023 was RMB5.94 (US$0.86), and RMB5.82 (US$0.85), compared with RMB2.52 and RMB2.46, respectively, in the same period of 2022. Non-GAAP adjusted net income per basic and diluted ADS in the first quarter of 2023 was RMB6.36 (US$0.93), and RMB6.24 (US$0.91), compared with RMB2.76 and RMB2.70 respectively, in the same period of 2022. Cash and cash equivalents was RMB921.2 million (US$134.1 million) as of March 31, 2023, compared with RMB602.3 million as of December 31, 2022. Share Repurchase Plan On November 16, 2022, the Company announced that its board of directors authorized to increase its share repurchase program to US$30 million from US$20 million, effective through September 2023. The Company didn't repurchase shares during the first quarter of 2023. Business Outlook For the second quarter of 2023, the Company expects the total loan amount facilitated and originated to be between RMB25.0 billion and RMB26.0 billion. Conference Call X Financial's management team will host an earnings conference call at 7:00 AM U.S. Eastern Time on May 25, 2023 (7:00 PM Beijing / Hong Kong Time on the same day). Dial-in details for the earnings conference call are as follows: United States: 1-888-346-8982 Hong Kong: 852-301-84992 Mainland China: 4001-201203 International: 1-412-902-4272 Passcode: X Financial Please dial in ten minutes before the call is scheduled to begin and provide the passcode to join the call. A replay of the conference call may be accessed by phone at the following numbers until June 1, 2023: United States: 1-877-344-7529 International: 1-412-317-0088 Passcode: 7019207 Additionally, a live and archived webcast of the conference call will be available at http://ir.xiaoyinggroup.com. About X Financial X Financial (NYSE: XYF) (the "Company") is a leading online personal finance company in China. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate and originate loans to prime borrowers under a risk assessment and control system. For more information, please visit: http://ir.xiaoyinggroup.com. Use of Non-GAAP Financial Measures Statement In evaluating our business, we consider and use non-GAAP measures as supplemental measures to review and assess our operating performance. We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We believe that the use of the non-GAAP financial measures facilitates investors' assessment of our operating performance and help investors to identify underlying trends in our business that could otherwise be distorted by the effect of certain income or expenses that we include in income (loss) from operations and net income (loss). We also believe that the non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. We use in this press release the following non-GAAP financial measures: (i) adjusted net income, (ii) adjusted net income per basic ADS, and (iii) adjusted net income per diluted ADS, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments and impairment losses on long-term investments. These non-GAAP financial measures have limitations as analytical tools, and when assessing our operating performance, investors should not consider them in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We mitigate these limitations by reconciling the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of GAAP and Non-GAAP results" set forth at the end of this press release. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates 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 Board of Governors of the Federal Reserve System as of March 31, 2023. Safe Harbor Statement This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the followings: the Company's goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace's products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law. For more information, please contact: X FinancialMr. Frank Fuya ZhengE-mail: ir@xiaoying.com Christensen IR In ChinaMr. Eric YuanPhone: +86-10-5900-1548E-mail: eric.yuan@christensencomms.com In USMs. Linda BergkampPhone: +1-480-614-3004Email: linda.bergkamp@christensencomms.com X Financial Unaudited Condensed Consolidated Balance Sheets (In thousands, except for share and per share data) As of December 31, 2022 As of March 31, 2023 As of March 31, 2023 RMB RMB USD ASSETS Cash and cash equivalents 602,271 921,162 134,132 Restricted cash 404,689 431,666 62,855 Accounts receivable and contract assets, net 1,161,912 1,271,635 185,164 Loans receivable from Xiaoying Credit Loans and other loans, net 3,810,393 3,838,666 558,953 Loans at fair value 120,280 46,771 6,810 Deposits to institutional cooperators, net 1,770,317 1,884,712 274,435 Prepaid expenses and other current assets, net 71,082 58,228 8,479 Deferred tax assets, net 88,428 74,311 10,821 Long-term investments 495,995 504,383 73,444 Property and equipment, net 5,861 5,923 862 Intangible assets, net 36,550 36,156 5,265 Loan receivable from Xiaoying Housing Loans, net 10,061 10,061 1,465 Financial investments 192,620 180,537 26,288 Other non-current assets 67,204 63,570 9,257 TOTAL ASSETS 8,837,663 9,327,781 1,358,230 LIABILITIES Payable to investors and institutional funding partners at amortized cost 2,627,910 2,647,753 385,543 Payable to investors at fair value 141,289 62,693 9,129 Financial guarantee derivative 107,890 61,325 8,930 Short-term borrowings 70,209 462,709 67,376 Accrued payroll and welfare 63,681 31,532 4,591 Other tax payable 255,691 265,720 38,690 Income tax payable 270,089 305,120 44,429 Deposit payable to channel cooperators 19,700 19,700 2,869 Accrued expenses and other current liabilities 476,035 379,716 55,291 Other non-current liabilities 51,193 47,818 6,963 Deferred tax liabilities 722 618 90 TOTAL LIABILITIES 4,084,409 4,284,704 623,901 Commitments and Contingencies Equity: Common shares 207 207 30 Treasury stock (124,597) (121,504) (17,692) Additional paid-in capital 3,191,194 3,200,837 466,078 Retained earnings 1,622,851 1,907,197 277,709 Other comprehensive income 63,599 56,340 8,204 Total X Financial shareholders' equity 4,753,254 5,043,077 734,329 Non-controlling interests - - - TOTAL EQUITY 4,753,254 5,043,077 734,329 TOTAL LIABILITIES AND EQUITY 8,837,663 9,327,781 1,358,230 X Financial Unaudited Condensed Consolidated Statements of Comprehensive Income Three Months Ended March 31, (In thousands, except for share and per share data) 2022 2023 2023 RMB RMB USD Net revenues Loan facilitation service 508,703 580,604 84,542 Post-origination service 87,344 121,273 17,659 Financing income 231,275 254,056 36,993 Other revenue 61,032 49,001 7,135 Total net revenue 888,354 1,004,934 146,329 Operating costs and expenses: Origination and servicing 464,499 633,809 92,290 General and administrative 45,344 45,647 6,647 Sales and marketing 4,658 2,038 297 (Reversal of) provision for accounts receivable and contract assets 26,056 (940) (137) Provision for loans receivable 33,740 20,377 2,967 (Reversal of) provision for credit losses on deposits to institutional cooperators 732 (34) (5) Reversal of provision for credit losses for other financial assets (765) - - Total operating costs and expenses 574,264 700,897 102,059 Income from operations 314,090 304,037 44,270 Interest income (expenses), net 1,027 (1,999) (291) Foreign exchange gain 955 3,018 439 Loss from financial investments - (9,514) (1,385) Fair value adjustments related to Consolidated Trusts 1,759 (553) (81) Change in fair value of financial guarantee derivative (20,133) 24,299 3,538 Other income, net 20,118 11,332 1,650 Income before income taxes and gain from equity in affiliates 317,816 330,620 48,140 Income tax expense (181,035) (52,563) (7,654) Gain from equity in affiliates, net of tax 3,150 6,289 916 Net income 139,931 284,346 41,402 Less: net income attributable to non-controlling interests - - - Net income attributable to X Financial shareholders 139,931 284,346 41,402 Net income 139,931 284,346 41,402 Other comprehensive income, net of tax of nil: Gain from equity in affiliates 212 2 0 Foreign currency translation adjustments (3,084) (7,261) (1,057) Comprehensive income 137,059 277,087 40,345 Less: comprehensive income attributable to non-controlling interests - - - Comprehensive income attributable to X Financial shareholders 137,059 277,087 40,345 Net income per share—basic 0.42 0.99 0.14 Net income per share—diluted 0.41 0.97 0.14 Net income per ADS—basic 2.52 5.94 0.86 Net income per ADS—diluted 2.46 5.82 0.85 Weighted average number of ordinary shares outstanding—basic 331,805,070 288,027,062 288,027,062 Weighted average number of ordinary shares outstanding—diluted 339,603,359 294,330,508 294,330,508 X Financial Unaudited Reconciliations of GAAP and Non-GAAP Results Three Months Ended March 31, (In thousands, except for share and per share data) 2022 2023 2023 RMB RMB USD GAAP net income 139,931 284,346 41,402 Less: Loss from financial investments (net of tax of nil) - (9,514) (1,385) Less: Impairment losses on financial investments (net of tax of nil) - - - Less: Impairment losses on long-term investments (net of tax) - - - Add: Share-based compensation expenses (net of tax of nil) 13,975 12,665 1,844 Non-GAAP adjusted net income 153,906 306,525 44,631 Non-GAAP adjusted net income per share—basic 0.46 1.06 0.15 Non-GAAP adjusted net income per share—diluted 0.45 1.04 0.15 Non-GAAP adjusted net income per ADS—basic 2.76 6.36 0.93 Non-GAAP adjusted net income per ADS—diluted 2.70 6.24 0.91 Weighted average number of ordinary shares outstanding—basic 331,805,070 288,027,062 288,027,062 Weighted average number of ordinary shares outstanding—diluted 339,603,359 294,330,508 294,330,508
SHENZHEN, China, May 25, 2023 /PRNewswire/ -- EVE Energy Co., Ltd. (EVE Energy), a leading lithium-ion battery manufacturer and energy storage solutions provider, was well represented at the 4th International New Energy Vehicles and Power Battery Expo (CIBF2023), held at the Shenzhen International Convention and Exhibition Center on May 16. Company Chairman Dr. Liu Jincheng attended the opening ceremony and delivered a keynote speech, sharing the enterprise's journey toward internationalization in the battery space. Dr. Liu Jincheng stated his pleasure at returning to the event in his capacity as not only EVE Energy Chairman but also as Vice Chairman of the China Chemical and Physical Power Sources Association. He accompanied leaders from the Ministry of Industry and Information Technology and the chairman of the association in visiting the exhibition halls. The development of China's lithium batteries has achieved a high global position, he said. Dr. Liu largely attributed this to progress made by Chinese equipment and material companies. "We visited several equipment and material exhibition halls and saw that the stacking speed can be shortened to 0.12 seconds per piece. Compared to previous production lines and stackers purchased from South Korea in the early days, the efficiency has doubled, which is very exciting to us all," he said. Dr. Liu Jincheng delivered a speech "Technological progress in equipment will undoubtedly further drive the development of the lithium battery industry," Dr Liu said. "Battery companies integrate creative innovations covering equipment and material enterprises while products are sold worldwide, demonstrating the country's remarkable results." EVE Energy has grown from a company with revenue of 200 million yuan when it listed on the Shenzhen GEM to get where it is today, achieving double growth in the two most recent years. Despite continuous changes in the market, Dr Liu still hopes to double revenue this year. Indeed, Dr Liu was buoyed by the healthy visitor numbers at the event. "The bustling crowds at today's exhibition demonstrate the enthusiasm for the rapid growth of lithium batteries in this country, though we must remain realistic," he said. "EVE Energy participates in this year's exhibition under the theme, 'Focus on Life, Focus on Health.' Our core area of expertise is showcased with a variety of medical devices, demonstrating the company's technological progress in medical batteries." "'New energy' and 'long life' are two major themes in the domestic market," he said. With the aging population in our country and people's pursuit of a higher quality of life, EVE Energy will pay more attention to people's health and the future. Because the essence of technological progress is to focus on a better life and support people as they strive for it." The power battery sector exhibits different characteristics to traditional industries, such as longer order cycles of up to five or eight years, he said during the speech. Dr Liu emphasized that industry project profitability relies on process quality performance and efficiency improvement. At the beginning of this year, the domestic market became more rational amid events like changes to national standards for fuel vehicles and fluctuations in the price of lithium carbonate. Risk prediction and mitigation capabilities across the entire lithium battery industry have further deepened. In response to this, EVE Energy has started focusing on medical batteries and health, accelerating research and development efforts for medical batteries and improving product quality. From the perspective of internationalization, EVE Energy is willing to cooperate with domestic and foreign companies, Dr Liu said. Speaking of internationalization, the company officially announced the construction of green battery plants in Hungary and Malaysia on May 9 and May 12, respectively. "We have confidence in the construction of overseas projects, but we also face challenges. For example, some place may lack the sufficient conditions for component processing and maintenance," he emphasized. "We have officially announced construction of green battery factories in Hungary and Malaysia," he said, adding that the team is overwhelmingly happy to get started on these projects and holds utmost confidence in the success of such overseas developments. The company aims to deepen ties with local communities and serves as their good neighbors and partners to help develop their areas. In addition, supporting local education and contributing to the local community on a cultural level is a crucial part of the internationalization process. EVE Energy Team in Hungary EVE Energy Team in Malaysia
沙特阿拉伯利雅得2023年5月25日 /美通社/ -- 為實現將沙特王國打造為領先的工業強國和全球物流中心的 2030 年願景目標，運輸和物流服務部 (MOTLS) 制定了雄心勃勃的戰略，旨在發展王國的運輸和物流部門，並滿足全球對物流服務日益增長的需求。 自此，該行業見證了前所未有的增長和進步，在全球物流行業留下了自己的印記，這正是 MOTLS 不斷努力的直接結果。在世界銀行最近發布的 2023 年物流績效指數 (LPI) 中，沙特阿拉伯取得了重大進步，從 2018 年的第 55 位上升了 17 位，達到第 38 位。 為了加強沙特王國在這方面的努力，王儲 Mohammed bin Salman 殿下推出了針對該行業不同方面的綜合計劃。國家運輸和物流戰略 (NTLS) 於 2021 年啟動，旨在加強王國運輸和物流部門的人員和技術能力。2019 年初，國家工業發展和物流計劃 (NIDLP) 啟動，以建設該國的工業和物流能力，並將其定位為該行業的全球領導者。 這些計劃旨在將沙特王國確立為全球物流中心。憑藉連接歐洲、亞洲和非洲的獨到地理位置：該國可謂得天獨厚，以成為便利跨洲貿易和貨物流動的門戶。該國位於亞歐貿易航線上，每年已承載全球 12% 的集裝箱貿易。 沙特阿拉伯正加速將經濟從石油轉變為更加多元化和全面的經濟生態系統。目前，物流業貢獻了沙特國內生產總值的 6%，預計到 2030 年將達到 10%，相當於約 201 億沙特里亞爾。 為提高貨運能力並進一步加強供應鏈，沙特王國宣佈到 2030 年將建立 59 個物流區，其中 21 個已經投入運營。該國還在利雅得哈立德國王國際機場開設了首個特別綜合物流區。這些舉措是基礎設施發展戰略的一部分，旨在推動業務增長、吸引投資，並到 2030 年將該行業的非石油收入增加到每年約 450 億里亞爾。 2030 年願景是沙特的戰略路線圖，致力於建設一個可持續發展的全球化國家。運輸和物流是任何經濟體的支柱，我們的目標是發展該行業，建立互聯互通，並提高我們國家的全球競爭力。我們正在全力開發內部和外部供應鏈，並按照最佳國際標準簡化流程，以提供世界一流的基礎設施和服務。我們致力於透過大量機會向世界打開沙特的大門。 2022 年 10 月，王儲殿下還啟動了全球供應鏈彈性計劃 (GSCRI)，以吸引供應鏈領域的本地和國際投資。該計劃的目標是在頭兩年籌集 400 億里亞爾（106.4 億美元），為投資者提供 100 億里亞爾的資金和非財務激勵措施。 為推動快速轉型，沙特王國已為鐵路、公路、海運和航空部門制定了里程碑。作為面積最大和人口最多的海灣合作委員會國家，王國還計劃到 2030 年在該行業創造超過 20 萬個就業崗位。 如欲了解更多資訊，請瀏覽： https://lpi.logisti.sa/ SA_Global_Logistics
CAPE CANAVERAL, Fla., May 25, 2023 /PRNewswire/ -- The two astronauts, Rayyanah Barnawi and Ali AlQarni started their scientific mission AX-2 on board the International Space Station today. They will make the Kingdom's history in space and science research undertaking 14 pioneering experiments in microgravity, out of which, three will be dedicated to educational motivational purposes with the participation of 12 thousand Saudi students in 42 different locations across the Kingdom in real time via satellites. This is an epic moment, aimed at preparing future astronauts and engineers, through quality educational and training programs, participation in scientific experiments, international research and future space-related missions – all of which will contribute to servicing humanity and to achieving the goals of Vision 2030. The team also comprise in addition to Rayyanah Barnawi and Ali AlQarni, two astronauts, Peggy Whitson and John Shoffner. They have all started completing their mission after the successful docking of their spaceship Dragon 2 with the International Space Station on 24 of May, where they have settled down. To better understand the impact of being in space, in a microgravity and a high radiation environment, on the human brain and nervous system, the Saudi astronauts are conducting six experiments aboard the ISS. The research aims at evaluating the repercussions of space on human health and at evaluating the safety of such space trips on the human brain. It will utilize novel neuroscience tools including measuring blood flow to the brain and the brain's electrical activity, assess intracranial pressure by non-invasive assessment of the pupil of the eye, and monitor changes in the optic nerve over time in order to make these space trips safer for humans in the future. The two Saudi astronauts will also do four cell science experiments to investigate the inflammatory response of human immune cells in microgravity. More specifically their research will be focused on changes in mRNA decay, a process that can turn inflammation off. In addition, response to therapy is mimicked by utilizing the same cellular model. The crew will take RNA samples for analysis on the ground, where the investigators will monitor RNA expression patterns, and excitedly thousands of mRNA half-lives will be measured. Results are expected to contribute to a better understanding of space health and uncover biomarkers or potential therapies for inflammatory diseases in both Space and Earth. In the aim of improving researchers' understanding of rain-seeding technology, which will contribute to increasing rainfall in many countries, the two Saudi astronauts will lead an artificial rain experiment, in which water vapor will be condensed on plankton and salt atoms in microgravity that simulate the cloud seeding process that is used in the Kingdom of Saudi Arabia and many other countries to increase precipitation rates. Results will help scientists and researchers devise new ways to provide suitable conditions for humans - including the work of artificial rain - to live in space colonies on the surface of the Moon and Mars. In addition to these experiments, and in order to develop further student knowledge of space science and its contribution to improving the quality of life on earth, three educational awareness experiments will be conducted aboard the ISS in real time with students across Saudi, in collaboration with the Ministry of Education, Mawhiba, Riyadh Schools and Misk Schools. This real-time interaction ensures that students will have access to the Saudi crew live as they perform their experiments together, one on Earth, and one in space simultaneously. SSC has stated that the mission of the two astronauts is considered to be the cornerstone of the Kingdom's space research and development. Their trip accomplishes the ambition of the Kingdom to initiate space exploration as the first middle eastern country and to become one of the world's leaders in space programs, at the service of humanity. This mission to the International Space Station of two Saudi astronauts, launched by the Saudi Space Commission is part of the Kingdom's program to space. SSC is confident that this trip will orient the Saudi youth into pursuing their studies in space programs, communication and satellites, and encourage them to continue their education in engineering and mathematics. Hence it aims to prepare future Saudi astronauts through quality educational and training programs, participation in scientific experiments, international research and future space-related missions – all of which will contribute to raising the status of the Kingdom in the development of space research and to achieving the goals of Vision 2030. Notes to Editors About The Saudi Space Commission (SSC): The Saudi Space Commission was established by the royal order in December of 2018 (Rabi II 1440). This bold step serves a future that is innovative and looks forward to the latest technologies and opportunities in the Saudi Space Industry. With the Kingdom moving towards a progressive quality of life, SSC demonstrates the aligned vision of creating better, secure environments for its citizens while actively enabling prospects of lucrative economic and monetary inventions. The SSC has strategized to create primary objectives that serve national security interests against space related risks and encourage cumulative growth and advancement. https://saudispace.gov.sa/en/about-us/
Mauve 在 INT-X Awards 2023 上贏得「最具創新的人力資源解決方案」獎。 INT-X 獎項由 Centuro Global 主辦，聚集了正在塑造全球跨境業務的領導者。 INT-X Awards 2023 標誌著 Mauve Group 連續第 2 年在不同獎項類別中獲獎。 倫敦2023年5月25日 /美通社/ -- Mauve Group 很榮幸宣佈贏得了 2023 INT-X Awards 的「最具創新的人力資源解決方案」獎。這個類別認可現今全球市場最具創新及高品質的解決方案。 Mauve 這些年度獎項由 Centuro Global 在英國倫敦的 Global Expansion Conference 主辦，展示了在過去 12 個月全球成功的關鍵成就及推動者。 為期兩天的 Global Expansion Conference 為企業提供與來自全球汽車業的專家及最高管理層會面和學習的機會。活動的第一天， Mauve Group 行政總裁 Ann Ellis 與幾位來自 Heineken 及 Quereos 的管理層人員參與了「未來的工作場所：利用遠端來贏得全球人才競爭」小組討論會。 這是 Mauve Group 連續第 2 年贏得 INT-X 獎項，去年拿下了「全球擴張最佳服務」獎。最近亦入圍了「全球薪酬獎」和「搬遷獎」兩個獎項，在全球擴張方面的出色記錄獲得了整個行業的認可。 獎項的申請程序包括由 INT-X 評審小組選出的初步書面申請，隨後參與 LinkedIn 的現場直播活動，所有入圍決賽的選手都需展示他們應該獲獎的理由。程序的最後一步是為期一週的公眾投票。 Mauve Group 的公共關係及傳播經理 Rosalind Smith 與行政總裁 Ann Ellis 一同接受獎項，並解釋了該獎項展示了 Mauve 在現今全球市場作為創新者的價值： 「我們很榮幸能兩度在 INT-X 獎項中獲獎，去年獲得最佳客戶服務獎，今天在這個重要的新類別中與一些卓越的入圍者競逐獎項。更棒的是，兩次我們都被業內同行、員工及客戶投票選為獲獎者，這證明了我們在競爭日漸激烈的市場中的可靠性及真正的品質。」 Mauve Group 獲獎有助於公司繼續提升其作為名義僱主行業先驅者的形象，以備受認可的可靠服務支援更多企業，讓更多人從全球的靈活、合規工作中受惠。 關於 Mauve： Mauve Group 擁有超過 27 年的經驗，是領先全球的人力資源、名義僱主及業務諮詢解決方案供應商。Mauve 開發了支持任何規模的企業計劃進行國際擴張的全球知識。 如欲了解更多資訊，請聯絡 Ellie Simmons：press@mauvegroup.com，或瀏覽 www.mauvegroup.com。
Inscribed on the UNESCO Memory of the World Register for its rock carvings which reflect daily life in the Dadanite Kingdom AlUla's Jabal Ikmah contains the largest concentration of Dadanitic inscriptions in the world ALULA, Saudi Arabia, May 25, 2023 /PRNewswire/ -- The Royal Commission for AlUla (RCU)'s efforts to conserve the region's documentary heritage have been acknowledged with the listing of Jabal Ikmah on UNESCO's Memory of the World Register. AlUla's Jabal Ikmah recognized for its documentary heritage in chronicling the evolution of Old Arabic Languages The spectacular mountain and its sandstone canyons feature more than 300 historically significant carved inscriptions, most of which date from the second half of the first millennium BCE. The site features the largest collection of inscriptions recording the ancient Dadanite Kingdom's religious rituals, daily activities, and relations with neighboring peoples. As part of its role in delivering Saudi Arabia's Vision 2030, RCU is heavily investing in the study and conservation of sites such as Jabal Ikmah, an open-air library situated in the world's largest living museum. These efforts to enhance the world's understanding of Jabal Ikmah, while improving visitors' access in a sustainable way, have contributed to this public affirmation by UNESCO of the magnitude and international significance of AlUla's documentary heritage. José Ignacio Gallego Revilla, Executive Director of the Kingdoms Institute, Archaeology, Heritage Research, and Conservation Department at the Royal Commission for AlUla, said: "The significance of Jabal Ikmah's inscriptions transcends regional boundaries to reach the level of global relevance, in particular as part of the evolution of Old Arabic languages and dialects. Their authenticity and integrity, both for the information preserved about ancient societies as well as the conservation of the site, bring together the essentials that make this place unique for the Memory of the World as the chronicle of a lost time through the largest number of inscriptions in an Ancient North Arabian script." As a crossroads on the incense and pilgrimage routes, the AlUla oasis was a hub of commercial and cultural exchange. It hosted merchants of myrrh, frankincense, and other precious commodities. This cultural richness propelled the growth of settlements, including Dadan. The Dadanite Kingdom flourished and developed its own alphabet form of the South Semitic writing system. The Dadanites then recorded their history through petroglyphs carved into the sloping red and yellow sandstone rocks of AlUla. The greatest concentration of inscriptions is sheltered in the gorge of Jabal Ikmah, which is characteristic of AlUla's jagged landscape formed by tectonic movements that date to the opening of the Red Sea 30 million years ago. Many of Jabal Ikmah's inscriptions reflect a variety of subjects such as rituals, kings, animals and agriculture, key to the story of AlUla's past. Conservation of such landmarks is central to RCU's vision for the future of AlUla, which emphasizes the region's cultural heritage as both a beacon for tourism and a springboard for innovation and economic benefits that raise the quality of life for the community. The listing builds on RCU's existing partnership with UNESCO. RCU's global network of partners for culture, which also includes ICOMOS, the Louvre Museum and the French Agency for the Development of AlUla (Afalula), plays a vital role in the regeneration of AlUla County as a leading global destination for cultural and natural heritage. RCU is establishing the Kingdoms Institute as a global hub for archaeology, heritage research and conservation. Currently active as a research organisation, the institute will have a permanent base in the Dadan district of AlUla, a site that by 2035 is expected to be a prime destination for two million visitors a year attracted largely by its rich heritage. Noted for editors: It is always AlUla / not Al-Ula About the Royal Commission for AlUla The Royal Commission for AlUla (RCU) was established by royal decree in July 2017 to preserve and develop AlUla, a region of outstanding natural and cultural significance in north-west Saudi Arabia. RCU's long-term plan outlines a responsible, sustainable, and sensitive approach to urban and economic development that preserves the area's natural and historic heritage while establishing AlUla as a desirable location to live, work, and visit. This encompasses a broad range of initiatives across archaeology, tourism, culture, education, and the arts, reflecting a commitment to meeting the economic diversification, local community empowerment, and heritage preservation priorities of the Kingdom of Saudi Arabia's Vision 2030 programme. AlUla's Jabal Ikmah recognized for its documentary heritage in chronicling the evolution of Old Arabic Languages AlUla's Jabal Ikmah recognized for its documentary heritage in chronicling the evolution of Old Arabic Languages
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