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HONG KONG SAR - Media OutReach Newswire - 20 December 2024 - A research team led by Professor Zhiqin Chu, Associate Professor in the Department of Electrical & Electronic Engineering, and Professor Yuan Lin, Professor in the Department of Mechanical Engineering, Faculty of Engineering at the University of Hong Kong (HKU), has developed a groundbreaking method for massively producing ultrathin and ultra-flexible diamond membranes, in collaboration with Professor Kwai Hei Li, Assistant Professor of the Southern University of Science and Technology, and Professor Qi Wang, Professor of the Dongguan Institute of Opto-Electronics of Peking University. HKU engineering researchers develop revolutionary diamond fabrication technology These ultrathin and ultra-flexible diamond membranes are compatible with existing semiconductor manufacturing technologies, and thus can, in principle, be fabricated into a variety of electronic, photonic, mechanical, acoustic, and quantum devices. The innovative edge-exposed exfoliation method discovered by the team facilitates the rapid production of scalable, free-standing diamond membranes. This approach is superior to traditional methods, which are typically time- and costly and limited in size. Remarkably, the new process can manufacture a two-inch wafer within 10 seconds, offering unmatched efficiency and scalability. These ultra-flat diamond surfaces, essential for high-precision micromanufacturing, along with the flexibility of the membranes, open up new possibilities for next-generation flexible and wearable electronic and photonic devices. The research team envisions significant industrial applications in electronics, photonics, mechanics, thermics, acoustics, and quantum technologies. "We hope to promote the usage of the high-figure-of-merit diamond membrane into various fields, and to commercialise this cutting-edge technology and deliver premium diamond membranes, setting a new standard in semiconductor industry. We are eager to collaborate with academic and industry partners to bring this revolutionary product to market and accelerate the arrival of diamond era," concluded Professor Chu. Diamonds, renowned globally as valuable gemstones, possess exceptional versatility in various scientific and engineering applications. They are the hardest natural material, boasting unparalleled thermal conductivity at room temperature, extremely high carrier mobility, dielectric breakdown strength, an ultrawide bandgap, and optical transparency spanning from the infrared to the deep-ultraviolet spectrum. These remarkable properties make diamonds ideal for fabricating advanced high-power, high-frequency electronic devices, photonic devices, and heat spreaders to cool high-power density electronic components, such as those in processors, semiconductor lasers, and electric vehicles. However, the inert nature and rigid crystal structure of diamonds pose significant challenges in fabrication and mass production, particularly for ultrathin and freestanding diamond membranes, thereby restricting their widespread usage. The full paper can be accessed here: https://www.nature.com/articles/s41586-024-08218-x About Professor Zhiqin Chu Prof. Zhiqin Chu received his B.S. and Ph.D. degrees in Physics from Northwest University (China) and The Chinese University of Hong Kong, in July 2008 and July 2012, respectively. After spending one year as a postdoctoral fellow in the same group, he conducted postdoctoral research at The University of Stuttgart (Germany) from April 2014 to September 2016. Since November 2018, he has been an Assistant Professor in the Department of Electrical and Electronic Engineering (with a joint appointment in the School of Biomedical Sciences) at The University of Hong Kong, and was promoted to tenured Associate Professor in November 2024. Since joining HKU, Prof. Chu has published over 60 peer-reviewed articles in journals such as Nature, Nature Communications, and Science Advances, and has filed 14 patents related to diamond technology. Prof. Chu has received multiple awards, including the Gold Medal at the 2023 International Invention Innovation Competition in Canada (iCAN), the Top 10 Best Invention Award at the 2023 iCAN, the Silver Medal at the 2022 Inventions Geneva Evaluation Days, and the Gold Medal at the 2024 International Exhibition of Inventions of Geneva. About Professor Yuan Lin Prof. Yuan Lin earned his B.S. and M.S. in Engineering Mechanics from Tsinghua University, followed by another M.S. in Applied Mathematics and a Ph.D. in Solid Mechanics from Brown University. He joined The University of Hong Kong in 2008 and is now a full Professor in the Department of Mechanical Engineering. His research on cell/tissue mechanics and mechanics of functional materials led to publications in top journals, including Nature, PNAS, Nature Communications, Science Advances and PRL. Prof. Lin has served as Chair of the Gordon Research Conference on Nano-Mechanical Interfaces and keynote speaker in numerous international conferences. As the PI or Co-PI, he has secured more than 15 research grants. Prof. Lin currently serves as the Secretary for the Hong Kong Society of Theoretical and Applied Mechanics. Hashtag: #HKUThe issuer is solely responsible for the content of this announcement.
NEW YORK, Dec. 18, 2024 /PRNewswire/ -- SunCar Technology Group Inc. ("SunCar" or the "Company") (Nasdaq: SDA), a leading innovator in cloud-based B2B auto services and auto e-insurance in China, is pleased to announce that it has been awarded a bid to provide premium concierge transportation services for Shanghai Rural Commercial Bank's ("SRCB") valued clientele. This milestone extends the partnership between SunCar and SRCB, which has thrived since 2014. Over the past decade, SunCar has worked closely with SRCB to offer tailored services, including designated driver assistance, high-speed rail station transfers, and international airport transportation for credit card customers. The collaboration has also involved the development of SRCB's proprietary car owner service platform, solidifying SunCar's role as a trusted partner in delivering innovative and high-quality solutions. In October 2023, SRCB launched a strategic retail transformation, restructuring its retail operations into key departments such as Retail Finance, Wealth Management & Private Banking, Personal Loan Services, and Base Customer Management. The bank integrated its credit card services into its broader retail business, paving the way for an enhanced loyalty points and benefits system led by the Retail Finance Division. As part of this evolution, SunCar recently successfully secured the bid to manage SRCB's retail points-based travel benefits, encompassing concierge car services, designated driver assistance, and VIP lounge access. Under the renewed partnership, SunCar remains committed to delivering superior and professional travel services tailored to the needs of SRCB's valued clientele. "We are proud to expand our partnership with Shanghai Rural Commercial Bank, supporting their efforts to deliver exceptional value to their VIP clients," commented Ye Zaichang, Chairman and CEO of SunCar Technology Group. "This new agreement strengthens SunCar's longstanding relationship with SRCB while reinforcing our commitment to driving growth in the financial services sector by delivering seamless and superior customer-focused solutions." About SunCar Technology Group Inc. Founded in 2007, SunCar is transforming the customer journey for auto services and auto insurance in China, the largest passenger vehicle market in the world. SunCar develops and operates cloud-based platforms that seamlessly connect drivers with a wide range of auto services and insurance coverage options through a nationwide network of sales partners. As a result, SunCar has established itself as the leader in China in the B2B auto services market and the auto eInsurance market for electric vehicles. The Company's intelligent cloud platform empowers its enterprise clients to access and manage their customer database and offerings optimally, and drivers gain access to hundreds of services from tens of thousands of independent providers in a single application. For more information, please visit: https://suncartech.com. Forward-Looking Statements This press release contains information about the Company's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company encourages you to review other factors that may affect its future results in the Company's annual reports and in its other filings with the Securities and Exchange Commission. Contact Information: SunCar:Investor Relations: Ms. Hui JiangEmail: IR@suncartech.comLegal: Ms. Li ChenEmail: chenli@suncartech.com U.S. Investor RelationsMatthew Abenante, IRCPresidentStrategic Investor Relations, LLCTel: 347-947-2093Email: matthew@strategic-ir.com
JAKARTA, INDONESIA – Media OutReach Newswire – 18 December 2024 - PT Xanh SM Green And Smart Mobility has officially launched its electric taxi service, Xanh SM, in Indonesia. Indonesia is the third Southeast Asian country to welcome Xanh SM, following Vietnam and Laos. This milestone solidifies the company's role as a trailblazer in bringing innovative green mobility solutions to the world under its "Go Green Global" strategy. The Global CEO of GSM (fourth from the right), the CEO VinFast Asia (fourth from the left), along with representatives from the government, the embassy, and other guests, participated in the launch ceremony of the Xanh SM electric taxi service in Indonesia. The grand opening ceremony in Jakarta was attended by Dr. Riyatno – Indonesian Deputy of Investment Climate Development / Ministry of Investment and Downstream / BKPM, Mr. Ta Van Thong – Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Viet Nam to Indonesia, Mr. Denny Abdi – Ambassador Extraordinary and Plenipotentiary of The Republic of Indonesia to Vietnam, Mr. Tatan Rustandi – Secretary of Directorate General of Land Transportation / Ministry of Transportation, representative of the city government, representatives of the Embassies of Laos, Uzbekistan, Timor-Leste, Serbia, India, and Sri Lanka in Indonesia, and nearly 100 of Xanh SM's strategic partners. Vietnam's first all-electric taxi company will begin operations in Indonesia, strategically positioned to meet the surging travel demand during the New Year 2025 season. Xanh SM is committed to delivering a 5-star mobility experience through its "5 Green Promises" implemented across all markets: Green Means Excellent Experience, Green Means Professional Drivers, Green Means High-Quality Vehicles, Green Means Affordable Pricing, and Green Means Environmental Care. The entire fleet consists of VinFast Limogreen electric cars, offering emission-free, noise-free, and fuel-odor-free rides. This ensures that every trip is comfortable, safe, and environmentally friendly. As a pioneer in the electric taxi industry, Xanh SM is well-positioned to establish standards of quality and reliability in Indonesia's bustling ride-hailing market. By leveraging a modern fleet of electric vehicles and a well-trained team of professional drivers, Xanh SM will contribute to Indonesia's transition to electric transportation, while elevating service quality standards within the regional ride-hailing industry. Mr. Nguyen Van Thanh, Global CEO of GSM, shared: "Indonesia is an incredibly exciting market, where the shift toward green and smart mobility solutions is accelerating. Indonesia's clear commitment to achieving Net Zero by 2060 aligns seamlessly with our mission to lead the global electrification of transportation. We believe Xanh SM will provide Indonesian people with a premium transportation experience while also spark a larger movement towards green mobility worldwide, creating a sustainable future for all." Speaking at the event, Dr. Riyatno, Indonesia's Deputy of Investment Climate Development / Ministry of Investment and Downstream / BKPM, shared: "As we work to accelerate the transition to clean energy, services like this play a pivotal role in reducing emissions, improving air quality, and contributing to the broader objectives of a sustainable, low-carbon economy. I am confident that this launch will inspire more investments in the green economy, creating opportunities for innovation, job creation, and a better quality of life for all Indonesians. The work does not stop here—this is just the beginning, and I look forward to seeing how Xanh SM's electric ride-hailing service will continue to grow and contribute to the broader goal of building a robust and resilient green economy for Indonesia." Mr. Ta Van Thong – Ambassador of Vietnam to Indonesia, shared: "We hope that the two-way trade between Vietnam and Indonesia will reach 15 billion USD, and our leaders have set a new target of 18 billion USD to achieve in a couple of years to come. The participation of VinFast, Xanh SM will definitely contribute to that goal. There are strong interests from Vietnamese companies to do business in Indonesia. I think Indonesia is a good land and birds flock to the good land. I hope that with the success of VinFast and Xanh SM, many Vietnamese businesses will follow to come to Indonesia to contribute to the prosperous development of Indonesia". To experience the future of electric mobility, Indonesian customers can download the Xanh SM app (https://xanhsm.onelink.me/3eCA/vwd4pqri) on the iOS App Store or Android Google Play; call the hotline at 14068; hail a taxi with a green light on the street or at public parking locations in Jakarta. To celebrate its arrival, Xanh SM is offering chances to try out a more innovative, greener way to travel via a 30% discount (up to IDR 50,000) for two rides per day, valid for five days from the 18th to 22nd of December 2024. This allows Jakarta customers to enjoy the pioneering electric taxi service with a modern, smart ride-hailing app. Since its launch in Vietnam in April 2023, Xanh SM has quickly risen as a leader in regional green transportation. The expansion into Indonesia marks a significant step forward, reinforcing its vision to "Go Green Global" and cementing its status as a beacon of innovation and sustainability in the industry. The issuer is solely responsible for the content of this announcement.About Xanh SMXanh SM is a pioneer in all-electric transportation, offering a high-tech and sustainable mobility ecosystem proudly rooted in Vietnam. With a bold vision, Xanh SM strives to accelerate the world's green, sustainable transportation transformation, playing a pivotal role in safeguarding the planet for generations to come.
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 18 December 2024 - 2024 has been a year of contradictory events, significant economic changes, and major political shifts. On a positive note, it was the year when global central banks finally managed to tackle inflation, partly induced by the negative and far-reaching effects of the COVID pandemic and partly by the more recent geopolitical events. After holding borrowing costs near record highs for most of 2023, almost all major central banks started to cut rates in 2024. However, the pace of interest rate reductions varied, leading to a divergence in monetary policy expectations between different economies, which, in turn, resulted in notable exchange rate fluctuations among major currencies. On a negative note, however, 2024 has been a year of lingering political uncertainty and geopolitical instability. Although investors learned to coexist with the simmering conflicts in Eastern Europe and the Middle East, a sense of underlying unease persisted. Adding to this sense of anxiety is the changing political landscape. Indeed, numerous elections took place in tens of countries around the world in 2024. Investors were particularly concerned about the parliamentary elections in France, the general elections in the United Kingdom, and the presidential and congressional elections in the United States. The market still feels the effect of these elections, with traders and investors anticipating major changes in economic policies and trying to front-run their impact on global assets. The U.S. Dollar (USD) has been the best-performing currency in 2024 among the 20 global currencies that Octa Broker tracks. From 29 December 2023 to 13 December 2024, the U.S. dollar index (DXY), which measures the value of the greenback against the basket of six foreign currencies (the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc) rose by almost 6%. However, the index has undergone substantial fluctuations over the course of the year. Kar Yong Ang, a financial market analyst at Octa Broker, explains: 'The dollar index has been on a rollercoaster ride in 2024, soaring to new multi-month heights and plummeting to fresh multi-month lows. Although the greenback looks like the best-performing currency in 2024 so far, the lion's share of its appreciation occurred during the latter part of the year and has been mostly driven by expectations for a major shift in U.S. trade policy.' Top 20 currencies performance in 2024 Source: Octa Broker calculations Indeed, the market is concerned that Donald Trump's proposed immigration and trade policies could have inflationary consequences, prompting the Federal Reserve (Fed) to adopt a less dovish monetary policy. As a result, the divergence in investors' monetary policy expectations between the Fed and other major central banks has widened, leading to higher capital inflows into the U.S. dollar. Furthermore, the U.S. economy has been outperforming other advanced economies in 2024 and is expected to continue to do better than the rest in 2025 as well. According to the International Monetary Fund (IMF), real gross domestic product (GDP) growth of advanced economies in 2024 will average just 1.8%, whereas the U.S. GDP is projected to expand by 2.8%. Because the dollar advanced higher, most major currencies are poised to conclude the year with negative performance. The only exception is the British pound, which is anticipated to finish the year virtually unchanged compared to 2023. 'The relative strength of the U.S. dollar is only one of many reasons why most other major currencies underperformed in 2024. Other factors, however, are specific to individual countries and a major bearish factor this year specifically has been the lack of political certainty, which currencies do not like,' says Kar Yong Ang, a financial market analyst at Octa Broker. Indeed, EURUSD, the most liquid and widely traded foreign exchange (Forex) pair in the world, has been weakened by political uncertainty in the eurozone's largest economies—France and Germany—where political stalemate led to high-profile resignations and early elections. Likewise, when the U.K. Prime Minister Rishi Sunak called a snap parliamentary election, GBPUSD experienced one of the biggest one-day declines of 2024. Moreover, the sluggish growth in the eurozone and the U.K. has prompted investors to anticipate additional rate cuts from both the European Central Bank (ECB) and the Bank of England (BoE). In contrast, the Fed is expected to slow down its easing cycle, further widening the interest rate differential between the U.S. dollar on the one hand and the euro and sterling on the other. Despite its safe-haven status, the Japanese yen (JPY) was the most volatile currency among the majors. Three-month implied options volatility for the yen, a measure of trader hedging demand, averaged around 9.73% in 2024, whereas the total average across seven major currencies was 7.46%. 'USDJPY traders have had a wild ride in 2024. It has been a total rollercoaster, to be honest. I think fortunes were made and lost here very quickly. This outgoing year has been truly historical for the JPY,' says Kar Yong Ang, a financial market analyst at Octa Broker. Indeed, during the year's first half, the bullish dollar momentum has propelled the pair to a multi-decade high. Then, as rumours of potential intervention by Japanese authorities to bolster the yen began to spread, the USDJPY pair started to decline. A massive sell-off accelerated in late July after the Bank of Japan (BoJ) raised interest rates to 15-year highs and announced details on how it will reduce its huge bond buying. Kar Yong Ang explains: 'At that time, it looked like BoJ was taking a surprisingly hawkish stance. Its decision really shook the markets and caused investors to reassess popular JPY carry-trades.' The commodities' performance varied greatly, and each deserves a separate story to tell, but coffee, lithium, gold, and silver have certainly been the biggest stories in 2024. Just recently, the prompt-month futures contract of arabica coffee traded on Intercontinental Exchange (ICE) hit an all-time high. It is up some 70% year-over-year (y-o-y), which makes it the best-performing commodity in 2024 among 20 other commodities that Octa Broker tracks. 'Like many other soft commodities, both arabica and robusta coffee futures are almost entirely driven by the whims of the weather. This year, Brazil, [the world's largest coffee producer], experienced its worst drought in 70 years, whereas Vietnam, [another key producer] was faced with both drought and heavy rainfall,' says Kar Yong Ang, a financial market analyst at Octa Broker. Indeed, according to official customs data, Vietnam's coffee exports in the first half of this year were 893,820 metric tons, down 11.4% from a year earlier. Traders are very much concerned about the 2025 global crop outlook, and prices have reflected these worries. In contrast, lithium has been the worst-performing commodity in 2024 as the sale of electric vehicles (EV) started to level off while capital investments from previous years boosted production capacity and led to oversupply. According to Refinitiv, the price of Lithium Hydroxide futures contracts traded on the Commodity Exchange (COMEX) was down 42.3% y-o-y as of December 13, 2024. As for precious metals, 2024 has been a record-setting year, especially for gold. The price for the yellow metal has been setting a new all-time high essentially every month in 2024. Kar Yong Ang, a financial market analyst at Octa Broker, outlines three main factors that have contributed to such a meteoric rise in gold prices. 'It all boils down to three sources of demand: safe-haven demand due to intensifying geopolitical tensions, investor demand due to less tight monetary policy globally, and structural demand from global central banks as part of de-dollarization and diversification efforts.' As many times before, gold has once again proved its underlying value as a protective asset during times of uncertainty and may continue to shine in the months ahead. Although the price of silver did not set any new records, its y-o-y performance was even more impressive than that of gold: +28.6% (as of December 13). 'Perhaps surprisingly, but despite growing geopolitical tensions, crude oil prices went down annually. This is mostly because non-OPEC members—notably, the U.S.—have managed to increase production but also because investors were worrying about the health of the Chinese economy, the main importer of crude oil,' says Kar Yong Ang, a financial market analyst at Octa Broker. Top 20 commodities performance in 2024Source: Octa Broker calculations 2024 also witnessed significant developments in the cryptocurrency market, particularly for Bitcoin. On March 8, its price set a new all-time high of $70,000. On 5 December, it finally managed to achieve another key milestone of $100,000 per coin. However, Bitcoin was not the best-performing digital coin of 2024. The price of Doge has increased four-fold. Most of the gains in the crypto sphere were in response to Donald Trump's victory in the U.S. presidential elections. Such a favourable market reaction to Trump's victory stems from investors' belief that his Administration, coupled with a friendly Congress, will effectively deregulate the crypto industry, facilitate its expansion, and implement a coherent regulatory framework that will serve investors and consumers for years to come. 'It should be said, argues Kar Yong Ang, that this belief is not without foundation. Trump has managed to lure many crypto fans to his side with his bold moves, clear views, and a strong focus on deregulation.' Top 5 crypto coins performance in 2024Source: Octa Broker calculations Overall, 2024 has been a year of uneven economic growth and significant political shifts. While central banks successfully addressed inflationary pressures globally, diverging monetary policies led to notable currency fluctuations. At the same time, geopolitical tensions have been on the rise, while political uncertainty persisted. The U.S. dollar emerged as the strongest currency, driven by a strong U.S. economy, a tightening monetary policy stance, and expectations of potential policy shifts. Other major currencies, such as the euro and the British pound, faced headwinds from economic sluggishness and political instability. In the commodity markets, 2024 was a year of extremes. While arabica coffee prices soared to record highs due to supply shortages, lithium prices plummeted as oversupply concerns mounted. Precious metals, particularly gold, experienced a remarkable surge, driven by safe-haven demand, easing monetary conditions, and central bank buying. Meanwhile, the main crypto coins broke new records and seem to be poised for major transformations in 2025. Hashtag: #OctaThe issuer is solely responsible for the content of this announcement.OctaOcta is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools. The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities. In the APAC region, Octa received the 'Best Trading Platform Malaysia 2024' and the 'Most Reliable Broker Asia 2023' awards from Brands and Business Magazine and International Global Forex Awards, respectively.
SEOUL, South Korea, Dec. 18, 2024 /PRNewswire/ -- Hyundai Mobis (KRX 012330) announced on 18th that it has developed a new battery cell cooling material to prevent battery overheating during ultra-fast charging of electric vehicles. Hyundai Mobis aims to secure world-class battery cooling technology and commercialize it to enhance its competitiveness in the future mobility market. This material, referred to as the 'Pulsating Heat Pipe,' is composed of aluminum alloy and refrigerant and is placed between battery cells to lower the internal battery temperature that spikes during rapid charging. Even when battery heat generation increases during ultra-fast charging, it is expected to significantly reduce electric vehicle charging time by implementing a stable thermal management system capable of withstanding the heat. Heat pipes are metal-tube-shaped thermal conductors that enhance heat transfer efficiency between two objects and are high-heat-dissipation materials used for cooling electronic devices such as computer CPUs and smartphones. Specifically, pulsating heat pipes diffuse heat through the vibration and circulation of refrigerant internally, resulting in minimal performance degradation due to gravity even when applied to high-speed moving vehicles. With over ten times the heat transfer performance compared to standard aluminum, they rapidly move the heat from overheated battery cells to the exterior. Typically, battery systems (BSA) are constructed by adding battery management systems (BMS), cooling fans, and various electronic devices to multiple battery modules (BMA). BMA, which directly generates electrical energy, is a module-level component with multiple battery cells stacked, and optimizing the cooling structure to prevent battery cell overheating is critical. Hyundai Mobis successfully placed PHPs between each battery cell. They quickly transferred the heat generated in each cell to cooling blocks, thereby stably controlling the internal temperature at the module level. Hyundai Mobis applied a press process enabling large-scale continuous production in the manufacturing stage, simplifying the PHP manufacturing process and reducing production costs. Additionally, to facilitate mounting on vehicle batteries, it achieved PHPs with a thickness of only 0.8 mm, which is significantly thinner and has a larger area than standard heat pipes (approximately 6 mm). This enhancement in product quality aims to promote the adoption of electric vehicles. About Mobis Mobis is the global no. 6 automotive supplier, headquartered in Seoul, Korea. Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. The company's products also include various components for electrification, brakes, chassis and suspension, steering, airbags, lighting, and automotive electronics. Mobis operates its R&D headquarters in Korea, with four technology centers in the United States, Germany, China and India. For more information, please visit the website at http://www.mobis.com. Media Contact Choon Kee Hwang : ckhwang@mobis.com Myong Sun Song: sms@mobis.com
LISHUI, China, Dec. 16, 2024 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company") today announced that Tantech has established two subsidiaries in the United States, Gohomeway Inc and Gohomeway Group Inc. The new companies aim to support the Company's growing demand for overseas business, increase its presence in the green building materials sector, and expand its operations in this field. Since its focus on the development of formaldehyde-removal carbon products for construction and renovation materials in 2002, Tantech has been engaged in the green building materials sale and development business for over 20 years. The company is now expanding its business in the U.S. to meet the rising international demand for its products. Its business strategy includes the wholesale distribution of branded green building materials and the establishment of a franchise system. Gohomeway has commenced its operations with an aim to generate revenue in 2025. Tantech's CEO, Mr. Wangfeng Yan, commented "The establishment of the new U.S. subsidiaries marks another step forward in Tantech 's internationalization efforts." About Tantech Holdings Ltd For the past decade, Tantech has been a highly specialized high-tech enterprise producing, researching and developing bamboo charcoal-based products with an established domestic and international sales and distribution network. Since 2017, when the Company acquired 70% of Shangchi Automobile, a vehicle manufacturer based in Zhangjiagang City, Jiangsu Province, it has manufactured and sold vehicles. The Company established two new subsidiaries, Lishui Smart New Energy Automobile Co., Ltd. and Zhejiang Shangchi New Energy Automobile Co., Ltd., in November 2020, to produce and sell street sweepers and other electric vehicles. The Company is fully ISO 90000 and ISO 14000 certified and has received a number of national, provincial and local honors, awards and certifications for its products and scientific research efforts. The Company's subsidiary, First International Commercial Factoring (Shenzhen) Co., LTD, is engaged in commercial factoring for businesses in and related to its supply chain. For more information, please visit: https://tanhtech.com. Forward-Looking Statements This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the sales, plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the Company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof. For more information, please contact: Tantech Holdings LtdInvestor RelationsTel: +86 (578) 226-2305ir@tantech.cn
A12 藝術空間
Electric Vehicles
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