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BEIJING, Dec. 18, 2024 /PRNewswire/ -- On December 12th, 2024, Hithium global launched the ∞Power 6.25MWh 2h/4h high-capacity BESS customized beyond geography and duration at the second Hithium Eco-Day, themed "The Freedom of Energy, The Revolution of Life." The global delivery of ∞Power 6.25MWh 2h/4h BESS will begin in Q2 2025. In response to the industry's increasing demand for "high-capacity" and "scenario-based" energy storage solutions, Hithium introduced the ∞Pack+ platform. This full-scenario high-capacity BESS platform features five key advantages: high-capacity, standardization, platformization, scenario-based, and maintainability. The platform is equipped with Hithium's high-capacity cells, and its pack achieves a high capacity up to nearly 200kWh. The platformization design ensures that up to 72% of components can be shared among packs equipped with different cells. The platform can pair with 2-hour-specialized 587Ah and 4-hour-specialized 1175Ah high-capacity battery cell to adapt to various scenarios with easier replacement and enhanced maintainability. Based on the ∞Pack+ platform, Hithium launched the ∞Power 6.25MWh 2h/4h BESS. In the 2-hour BESS scenario, the battery cell is 587Ah, while in the 4-hour BESS scenario, it is 1175Ah. Furthermore, both scenarios would also work with another Hithium BESS product, which is tailored for desert applications. The ∞Power 6.25MWh 2h/4h BESS offers user value from five key perspectives: Ultra-low Cost: Reduces overall costs by up to 15%, with a system lifespan that aligns with photovoltaic systems. Superior Safety: The system achieves cell intrinsic safety of large electrodes and is equipped with a composite top cover resistant to over 1,000°C, along with dual-protection BMS for both functional safety and cybersecurity. Easy Maintenance: The system reduces maintenance time by 50% or more. High Compatibility: The system is compatible with centralized, string-type, and complex coupled PCS systems. Eco-friendly: The system operates at a low noise level (min 65dB). It utilizes a new refrigerant and is built with 100% recyclable components. Hithium aims to redefine the concept of BESS integration through the principles of decoupling and restructuring, specialized division of labor, independent iteration, and industry collaboration. By 2025, Hithium plans to develop its entire R&D ecological chain for BESS, fostering a new ecology in collaboration with industry partners. Hithium Eco-day Product Launch About Hithium Founded in 2019, Hithium is a leading manufacturer of top-quality stationary energy storage products for utility-scale as well as commercial and industrial applications. With four distinct R&D centers and multiple "intelligent" production facilities, Hithium's innovations include groundbreaking safety improvements to its lithium-ion batteries as well as increases in lifecycle. With decades of cumulative experience in the field among its founders and senior executives, Hithium leverages its specialization in BESS to deliver partners and customers unique advances in energy storage. The company is headquartered in Xiamen, China, with locations in Shenzhen, Chongqing, Munich, Dubai, New York, California and Dallas. To date, Hithium has shipped 40+ GWh of BESS products (cells, systems and others), ranking as the Tier 1 BESS supplier and the top 5 global market share.
New precision-engineered components to drive next-gen semiconductor manufacturingCollaboration positions Metasurface as a key supplier for high-demand sub-180 nm wafer fab platforms SINGAPORE and HONG KONG, Dec. 18, 2024 /PRNewswire/ -- Metasurface Technologies Holdings Limited (HKG: 8637) ("Metasurface" or the "Company", together with its subsidiaries, the "Group"), a provider of precision engineering services, is pleased to announce a significant collaboration with a leading semiconductor Original Equipment Manufacturer (OEM). The Group has been entrusted with the production of newly designed critical components for integration into advanced wafer fabrication equipment systems. This partnership underscores the Group's expertise in precision machining and its reputation as a trusted supplier in the semiconductor industry. The components include a high-precision wafer fabrication vacuum chamber and ancillary parts, all of which demand stringent manufacturing standards. The vacuum chamber, essential for inter-layer dielectric deposition—a pivotal process in semiconductor fabrication—requires exacting tolerances and zero-defect performance. Key Highlights: Advanced Manufacturing Excellence: The vacuum chamber features a central channel port that must be machined with Geometric Dimensioning and Tolerancing (GD&T) exactness, maintaining micron-level tolerances in flatness and parallelism without secondary processing. The Group has developed customized precision tooling and employs advanced machining techniques to meet these rigorous specifications. Each component undergoes comprehensive quality control, including helium leak testing within ultra-high purity cleanroom environments, ensuring adherence to zero-defect standards critical for high-speed wafer processing. Projected Growth and Industry Impact: The semiconductor OEM anticipates increasing production volumes year-over-year for the next three years, indicating robust demand for these components. The Group's capacity to fulfil these escalating requirements positions it as a key supplier to one of the industry's most advanced production lines. These components will be integral to the OEM's new ultra-high productivity platform for sub-180 nm devices, facilitating the production of next-generation semiconductor chips. By enabling precise inter-layer dielectric deposition, this platform is set to drive innovation and efficiency in semiconductor manufacturing. About the Group Headquartered in Singapore, with production facilities in Singapore and Malaysia, the Group specializes in precision engineering services, including precision machining and precision welding. With over two decades of industry expertise and experience serving leading global customers, the Group is a trusted partner in delivering innovative solutions that meet the most stringent technical and commercial requirements. The Group is accredited with ISO 9001:2015 for quality management and ISO 14001:2015 for environmental management, reflecting its commitment to excellence and sustainability. Find out more at www.metatechnologies.com.sg. For media inquiries, please contact:KL Goh / Jimmy OngOperating Director / Senior Sales ManagerM: +65 9683 3348 / +65 9772 1313E: kl.goh@metatechnologies.com.sg; jimmy.ong@metatechnologies.com.sg
NEW YORK, Dec. 18, 2024 /PRNewswire/ -- This holiday season, Monport Laser is redefining the spirit of giving with its highly anticipated "Christmas Laser Bonanza". Known for its industry-leading laser engraving machines, Monport Laser is offering a spectacular lineup of deals, rewards, and giveaways designed to spark creativity and make every creator's holiday truly magical. Whether you're a professional engraver, a small business owner, or a DIY enthusiast, this is your chance to bring home premium laser engraving tools at unparalleled prices. A Holiday Bonanza Like No Other Monport Laser's Christmas Laser Bonanza is packed with exciting opportunities to save big, win amazing prizes, and upgrade your engraving game. With deals designed to suit a wide range of budgets and needs, this festive event ensures that no creator is left behind. 1. Massive Discounts – Save up to $5,800 on top-of-the-line CO2 laser engravers, making high-end machines more affordable than ever. 2. Tiered Savings – Enjoy additional discounts: $100 off purchases over $1,999 $200 off purchases over $3,999 $300 off purchases over $5,999 3. Spin to Win – Test your luck and spin the wheel for a chance to win incredible prizes, including FREE fiber laser or CO2 laser engravers! Keep the festive spirit alive by participating during the following dates: December 16–22: Spin to win a FREE MEGA CO2 Laser Engraver. December 23–29: Mystery prize up for grabs—stay tuned and spin for your chance to win! December 30–January 3: Another exciting mystery prize awaits lucky winners! Don't miss this limited-time opportunity to add premium laser engraving machines to your creative toolkit for free! 4. Free Laser Tube Replacement – Get a complimentary laser tube replacement six (6) months after purchasing any 100-150w CO2 Laser Machine Engraver, ensuring uninterrupted creativity and peace of mind. 5. Share & Win – Share your Monport Laser experience on social media and enter a special giveaway to win a $50 gift card – because joy is always better when shared! Celebrate Creativity This Holiday Season The Christmas Laser Bonanza is more than just a sale – it's a celebration of creativity. Monport Laser's cutting-edge machines empower creators to produce stunning custom gifts, intricate decorations, and professional-grade products. From personalized holiday ornaments to engraved keepsakes, the possibilities are endless. This festive event makes it easier than ever to turn your imagination into reality while enjoying exclusive perks. Explore a World of Possibilities Whether you're engraving glassware for holiday dinners, creating leather-bound journals as gifts, or designing wood ornaments to adorn your tree, Monport Laser machines offer unmatched precision and versatility. Beginners and professionals alike can take advantage of the advanced features, intuitive controls, and exceptional performance Monport Laser is known for. Why Monport Laser? Monport Laser stands out as a trusted leader in the laser engraving industry. With a reputation for innovation and reliability, Monport's engravers are built to handle projects of all sizes – from hobbyist creations to professional-grade production. Here's what makes Monport a top choice for creators: User-Friendly Design: Intuitive controls make Monport engravers perfect for both beginners and seasoned professionals. Exceptional Precision: Monport machines deliver high-quality results, ensuring that every engraving is a masterpiece. Durable and Reliable: Designed to last, Monport engravers are built with premium materials and backed by outstanding customer support. Versatile Applications: From wood and glass to leather and metal, Monport machines handle a wide range of materials, enabling endless creative possibilities. Join the Monport Laser Community By participating in the Christmas Laser Bonanza, you're not just upgrading your engraving tools – you're joining a vibrant community of creators who share your passion. Monport Laser is committed to supporting its customers with tutorials, resources, and dedicated support to help you unlock your full creative potential. Shop the Christmas Laser Bonanza The Christmas Laser Bonanza is available exclusively online at Monport Website and through authorized Monport Laser retailers. Whether you're shopping for yourself or searching for the perfect gift for the creator in your life, these unbeatable offers make it the ideal time to invest in premium laser engraving technology. About Monport Laser Monport Laser specializes in advanced laser engraving and cutting solutions, offering a wide range of products to meet diverse creative needs. Known for its cutting-edge technology, exceptional quality, and outstanding customer support, Monport is dedicated to fueling the creativity of its global community. With a strong focus on innovation, Monport continues to empower creators to bring their ideas to life. For more information about the Christmas Laser Bonanza, visit [Company Website] and discover the deals and rewards waiting for you this holiday season.
HOUSTON, Dec. 18, 2024 /PRNewswire/ -- Ascend Performance Materials announced today the successful production of acrylonitrile, hexamethylene diamine, adipic acid and nylon 6,6 from feedstocks derived from used cooking oil, expanding its Bioserve portfolio. The resulting nylon 6,6 has a 25% lower product carbon footprint than nylon 6,6 made from fossil-fuel derived feedstock. Using an ISCC Plus-certified mass-balance approach allows for industrial-scale production of sustainable materials without sacrificing performance. Ascend's production facilities in the United States are all ISCC Plus certified to handle bio-based, circular and bio-circular materials. "We are focused on finding technical solutions for our customers' challenges," said Alex Mihut, Ascend's vice president for performance chemicals. "Using the mass-balance approach allows us to meet the growing need for sustainable materials at scale while continuing to offer reliable performance and quality." Combined with Ascend's efforts to lower its scope 1 and 2 emissions, the company's Bioserve products offer among the lowest product carbon footprints for industrial-scale nylon 6,6 and its precursors available in the market today. "Part of our sustainability strategy is a pillar we call 'Operating Without Compromise'," said Chris Johnson, Ascend's senior director for sustainability. "It is based on a commitment to find well-rounded solutions that meet the needs of our customers and help them achieve their goals." Ascend recently published its 2023 sustainability report, which highlights progress against the company's 2030 Vision. About Ascend Performance Materials Ascend Performance Materials makes high-performance materials for everyday essentials and new technologies. Our focus is on improving quality of life and inspiring a better tomorrow through innovation. Based in Houston, Texas, and with regional offices in Shanghai, Brussels and Detroit, we are a fully integrated material solutions provider with global manufacturing facilities in North America, Europe and Asia. Our global workforce makes the materials used to make safer vehicles, cleaner energy, better medical devices, smarter appliances and longer-lasting apparel and consumer goods. We are committed to safety, sustainability and the success of our customers and our communities. Learn more about Ascend at www.ascendmaterials.com. Contact: Osama Khalifa, +1 832-963-1347, okhali@ascendmaterials.com
SHENZHEN, China, Dec. 17, 2024 /PRNewswire/ -- ZJK Industrial Co., Ltd. (Nasdaq: ZJK) ("ZJK Industrial", "ZJK", or the "Company"), a high-tech enterprise specialized in the manufacturing and sale of precision fasteners, structural parts and other precision metal parts products for new energy vehicles and intelligent electronic devices, today announced its unaudited financial results for the first six months of fiscal year 2024 ended June 30, 2024. First Six Months of Fiscal Year 2024 Financial Highlights Revenue increased by 72.81%, to US$16.23 million for the six months ended June 30, 2024, from US$9.39 million for the same period of last year. Gross profit increased by 134.31%, to US$7.56 million for the six months ended June 30, 2024, from US$3.23 million for the same period of last year. Income from operations increased by 149.33%, to US$4.91 million for the six months ended June 30, 2024, from US$1.97 million for the same period of last year. Net income increased by 106.98%, to US$5.43 million for the six months ended June 30, 2024, from US$2.62 million for the same period of last year. Basic and diluted earnings per share was US$0.09 for the six months ended June 30, 2024, increased from US$0.04 for the same period of last year. Mr. Ning Ding, Chief Executive Officer and Chairman, commented, "We are thrilled to report outstanding performance in the first half of fiscal year 2024, with revenues surging 72.81% to US$16.23 million. This growth reflects our strategic efforts to expand our market presence and meet the high demand for our product offerings amidst the rapidly evolving technology revolution. Our remarkable growth has been driven primarily by our unwavering commitment to innovation, advancements in production technology, stringent cost control measures, and adaptive sales and marketing strategies. These efforts contributed to an increase in our average unit sales price, resulting in gross profit rising 134.31% to US$7.6 million for the period, while gross profit margin improved significantly from 34.34% to 46.57%. To meet surging demand, we expanded our production capacity by leasing three additional factories during this period. Simultaneously, we enhanced sales and marketing initiatives to drive sales and maintained investment in research and development, even as mature product models required less material consumption. Looking ahead, we remain optimistic and confident in our sustainable growth potential. Our steadfast focus on technology innovation and specialized advanced solutions will continue to distinguish us from our competitors. By deeply cultivating our expertise in sub-assembly and assembly manufacturing, we believe we are poised to deliver long-term value to our shareholders." First Six Months of Fiscal Year 2024 Financial Results Revenue Revenue increased by 72.81%, to US$16.23 million for the six months ended June 30, 2024, from US$9.39 million for the same period of last year. Revenues generated from customers in China accounted for 97.27% and 86.50% of the total revenue for the six months ended June 30, 2023, and 2024, respectively. Revenue from sales of hardware products increased by 72.81%, to US$16.23 million for the six months ended June 30, 2024, from US$9.39 million for the same period of last year. The increase was mainly due to (i) the total sales volume of the Company's products for the six months ended June 30, 2024 increased by 44.55% compared to that for the same period of last year and (ii) the average unit sales price of the Company's products for the six months ended June 30, 2024 increased by 21.91% compared to that for the same period of last year as the Company reduced the discount provided to one of its major customers with stable cooperation. For turned parts, the average unit sales price increased by 28.25% and the sales volume increased by 39.73% for the six months ended June 30, 2024, compared to those for the same period of last year, resulting in an increase of US$3.29 million in revenue. For screws, the average unit sales price of screws increased by 8.10% and the sales volume increased by 45.98% for the six months ended June 30, 2024, compared to those for the same period of last year, resulting in a total increase of US$2.51 million in revenue. For stamping parts, the sales volume increased by 12.84% for the six months ended June 30, 2024, compared to that for the same period of last year, resulting in a total increase of US$0.79 million in revenue. Cost of Revenue Cost of revenues increased by 40.64%, to US$8.67 million for the six months ended June 30, 2024, from US$6.17 million for the same period of last year, which was in line with the increase of sales volume of self-production products and products from third party manufacturers, and the total sales volume increased by 44.55% for the six months ended June 30, 2024 compared to that for the same period of last year. Gross Profit and Gross Profit Margin Gross profit increased by 134.31%, to US$7.56 million for the six months ended June 30, 2024, from US$3.23 million for the same period of last year. The gross profit increased mainly due to the increased sales volume and the increased average unit sales price of turned parts and stamping parts. The gross profit margin increased by 12.23%, to 46.57% for the six months ended June 30, 2024, from 34.34% for the same period of last year, mainly due to (i) the average unit sales price of the Company's products increased as the Company reduced the discount provided to one of its major customers with stable cooperation; (ii) the average unit cost decreased resulting from the improvement of the Company's production technology and the discount provided by its suppliers. General and administrative expenses The general and administrative expenses increased by 245.36%, to US$1.22 million for the six months ended June 30, 2024, from US$0.35 million for the same period of last year, which was primarily attributable to (i) an increase of US$0.58 million in professional service fees due to an increase of accounting advisory fee, (ii) an increase of US$0.04 million in salaries and benefits for administrative personnel due to an increase of employee headcounts resulting from the Company's business growth, (iii) an increase of US$0.04 million in rental expenses as the Company entered into a lease agreement for a factory in Vietnam in April 2023 and two lease agreements for factories in Qingyuan, China in June 2024 to expand its production scale. Selling and marketing expenses The selling and marketing expenses increased by 123.17%, to US$1.18 million for the six months ended June 30, 2024, from US$0.53 million for the same period of last year, which was primarily due to an increase of US$0.38 million in sales commission and an increase of US$0.24 million in freight for selling activities which were both attribute to the increase of the Company's revenue for the six months ended June 30, 2024. Research and development costs The research and development costs decreased by 35.69%, from US$0.37 million for the six months ended June 30, 2024, to US$0.24 million for the same period of last year, which was primarily attributable to a decrease of US$0.13 million in material consumption as the types of products the Company developed in 2024 have a less material consumption than what the Company's consumed for the same period of last year. Income from operations Income from operations increased by 149.33%, to US$4.91 million for the six months ended June 30, 2024, from US$1.97 million for the same period of last year. Other income, net Other income, net increased by 31.78%, to US$1.26 million for the six months ended June 30, 2024, from US$0.95 million for the same period of last year, which was primarily attributable to (i) an increase in investment income of US$0.19 million generated from long-term equity investment in PSM-ZJK Fasteners (Shenzhen) Co., Ltd, (ii) a decrease of US$0.06 million in interest expenses due to the decrease of commercial vehicle mortgage loan for the six months ended June 30, 2024. Net Income Net income increased by 106.98% to US$5.43 million for the six months ended June 30, 2024, from US$2.62 million for the same period of last year. Basic and Diluted Earnings per Share Basic and diluted earnings per share was US$0.09 for the six months ended June 30, 2024, compared to US$0.04 for the same period of last year. Financial Condition As of June 30, 2024, the Company had cash of US$8.56 million and restricted cash of US$1.70 million, compared to US$2.83 million and US$1.08 million as of December 31, 2023, respectively. Net cash provided by operating activities was US$7.73 million for the six months ended June 30, 2024, compared to US$3.93 million for the same period of last year. Net cash used in investing activities was US$0.32 million for the six months ended June 30, 2024, compared to US$0.04 million for the same period of last year. Net cash used in financing activities was US$0.47 million for the six months ended June 30, 2024, compared to US$0.51 million for the same period of last year. Recent Development On October 1, 2024, the Company completed its initial public offering (the "Offering") of 1,250,000 ordinary shares at a public price of US$5.00 per share. On October 30, 2024, the underwriters of the Offering partially exercised their over-allotment option to purchase an additional 131,249 ordinary shares of the Company at the public offering price of US$5.00 per share. The gross proceeds were US$6.91 million from the Offering, before deducting underwriting discounts and commissions, and other expenses. The Company's ordinary shares began trading on the Nasdaq Capital Market on September 30, 2024, under the ticker symbol "ZJK." About ZJK Industrial Co., Ltd. ZJK Industrial Co., Ltd. is a high-tech enterprise specializing in the manufacturing and sale of precision fasteners, structural parts and other precision metal parts applied in a variety of industries, including intelligent electronic equipment, new energy vehicles, aerospace, energy storage systems, medical and liquid cooling systems used in artificial intelligence supercomputers. With thirteen-year involvement in the precision metal parts manufacturing industry, the Company maintains a skilled professional team, a series of highly automated and precision manufacturing equipment, stable and strong customer group, and complete quality management systems. ZJK mainly offers standard screws, precision screws and nuts, high-strength bolts and nuts, turning and Computer Numerical Control (CNC) machining parts, Surface Mounting Technology (SMT) for miniature parts packaging, and technology service for research and development from a professional engineering team. For more information, please visit the Company's website at https://ir.zjk-industrial.com/. Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to" or other similar expressions in this announcement. The Company undertakes no obligation to update or revise publicly 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 such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission. For more information, please contact: ZJK Industrial Co., Ltd.Phone: +86-755-28341175Email: ir@zjk-industrial.com Ascent Investor Relations LLCTina XiaoPhone: +1-646-932-7242Email: investors@ascent-ir.com ZJK Industrial Co., Ltd. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In U.S. dollars, except for numbers of shares data) As of December 31, 2023 June 30, 2024 (Unaudited) ASSETS Current assets Cash 2,826,725 8,559,892 Restricted cash 1,075,047 1,704,278 Accounts receivable, net 10,268,807 6,982,123 Accounts receivable-due from a related party 8,816,184 5,295,551 Inventories, net 4,765,742 6,721,310 Prepaid expenses and other current assets, net 503,914 644,290 Other receivables-due from related parties 277,786 309,243 Deferred initial public offering ("IPO") costs, current - 697,613 Total current assets 28,534,205 30,914,300 Non-current assets Property, plant and equipment, net 5,596,699 5,758,823 Operating lease right-of-use assets 522,148 1,200,188 Finance lease right-of-use assets 336,257 168,463 Construction in progress 41,200 57,167 Long-term investment 2,517,538 3,559,395 Deferred tax assets, net 165,969 289,959 Deferred IPO costs, non-current 566,417 - Total non-current assets 9,746,228 11,033,995 TOTAL ASSETS 38,280,433 41,948,295 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Short-term bank borrowings 37,184 97,699 Accounts payable 11,569,828 10,454,466 Income tax payable 1,035,152 1,367,684 Accrued expenses and other current liabilities 841,402 712,785 Other payables-due to related parties 1,867,459 1,537,393 Operating lease liability, current 157,980 328,383 Finance lease liability, current 230,460 92,947 Other long-term debt, current 9,379 - Total current liabilities 15,748,844 14,591,357 Non-current liabilities Operating lease liability, non-current 290,684 790,147 Other long-term debt, non-current 20,321 - Deferred tax liabilities 518,156 418,331 Total non-current liabilities 829,161 1,208,478 TOTAL LIABILITIES 16,578,005 15,799,835 Commitments and contingencies (Note 14) Shareholders' equity Ordinary shares, $0.000016666667 par value, 3,000,000,000 shares authorized, 60,000,000 and 60,000,000 shares issued and outstanding as of December 31, 2023 and June 30, 2024, respectively* 1,000 1,000 Additional paid-in capital 1,792,559 1,792,559 Statutory surplus reserves 2,283,180 2,283,180 Retained earnings 18,644,082 24,070,993 Accumulated other comprehensive loss (1,016,563) (1,999,098) Total ZJK Industrial Co., Ltd. shareholders' equity 21,704,258 26,148,634 Non-controlling interests (1,830) (174) Total shareholders' equity 21,702,428 26,148,460 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 38,280,433 41,948,295 * The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on March 28, 2023 (Note 1) and the two share splits that occurred on June 19, 2023 and June 6, 2024, respectively (Note 15). ZJK Industrial Co., Ltd. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVEINCOME (In U.S. dollars, except for the number of shares data) For the six months ended June 30, 2023 2024 (Unaudited) Revenues Third-party sales 4,211,947 8,508,295 Related-party sales 5,179,789 7,721,659 Total revenues 9,391,736 16,229,954 Cost of revenues Third-party sales (1,755,183) (3,553,017) Related-party sales (4,411,119) (5,119,335) Total cost of revenues (6,166,302) (8,672,352) Gross profit 3,225,434 7,557,602 Operating expenses Selling and marketing expenses (527,810) (1,177,918) General and administrative expenses (354,610) (1,224,664) Research and development costs (371,298) (238,779) Gain from disposal of property, plant and equipment 80 - Total operating expenses (1,253,638) (2,641,361) Income from operations 1,971,796 4,916,241 Other income, net Interest expenses (73,591) (12,474) Interest income 7,764 35,678 Share of profits from equity method investment 917,045 1,107,771 Currency exchange (loss) gain (7,457) 45,534 Other income, net 110,200 80,639 Total other income, net 953,961 1,257,148 Income before income tax provision 2,925,757 6,173,389 Income tax provision (303,021) (744,853) Net income 2,622,736 5,428,536 Less: net income attributable to non-controlling interests 1,470 1,625 Net income attributable to ZJK Industrial Co., Ltd.'s shareholders 2,621,266 5,426,911 Other comprehensive (loss) income Foreign currency translation adjustment attributable to parent company (808,054) (982,535) Foreign currency translation adjustment attributable to non-controlling interest (27) 31 Total comprehensive income 1,814,655 4,446,032 Comprehensive income attributable to non-controlling interests 1,443 1,656 Comprehensive income attributable to ZJK Industrial Co., Ltd.'s shareholders 1,813,212 4,444,376 Earnings per share Basic and Diluted* 0.04 0.09 Weighted average shares used in calculating earnings per share Basic and Diluted* 60,000,000 60,000,000 * The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on March 28, 2023 (Note 1) and the two share splits that occurred on June 19, 2023 and June 6, 2024, respectively (Note 15). ZJK Industrial Co., Ltd. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In U.S. dollars, except for the number of shares data) For the six months ended June 30, 2023 2024 (Unaudited) Cash flows from operating activities: Net income 2,622,736 5,428,536 Adjustments to reconcile net income to net cash provided byoperating activities: Provision for credit loss - 8,575 Depreciation of property, plant and equipment 244,618 274,016 Amortization of operating lease right-of-use assets 118,733 158,590 Amortization of finance lease right-of-use assets 122,851 161,212 Interest expense of finance lease liabilities - 3,344 Gain from the disposal of property, plant and equipment (80) - Provision for inventories 123,713 134,294 Share of profits from equity method investment (917,045) (1,107,771) Provisions for deferred income tax 81,179 (218,239) Changes in operating assets and liabilities: Accounts receivable 4,171,981 3,063,777 Accounts receivable-due from related parties 3,161,302 3,341,677 Inventories (396,437) (2,214,518) Prepaid expenses and other current assets (220,824) (153,075) Other receivables-due from related parties (58,909) (6,248) Accounts payable (4,471,736) (1,200,688) Income tax payable (601,204) 358,940 Accrued expenses and other current liabilities (263,641) (62,010) Other payables-due to related parties 334,138 (67,392) Operating lease liability (122,221) (177,538) Net cash provided by operating activities 3,929,154 7,725,482 Cash flows from investing activities: Purchase of property, plant and equipment (36,378) (221,552) Purchase of construction in progress - (65,066) Loan to a related party - (230,710) Collection of loan to a related party - 198,832 Net cash used in investing activities (36,378) (318,496) Cash flows from financing activities: Proceeds from short-term bank borrowings 43,035 69,300 Repayments of short-term bank borrowings - (7,484) Repayments of long-term debts (235,260) (29,226) Deferred IPO costs (112,389) (145,279) Repayments of financing lease liabilities (200,524) (136,508) Repayments of loan from related parties - (221,760) Net cash used in financing activities (505,138) (470,957) Effect of exchange rate changes (204,947) (573,631) Net change in cash and restricted cash 3,182,691 6,362,398 Cash and restricted cash at the beginning of period 1,516,314 3,901,772 Cash and restricted cash at the end of period 4,699,005 10,264,170 Supplemental disclosure of cash flow information: Income tax paid 155,321 605,294 Interest expenses paid 14,387 8,140 Supplemental disclosures of non-cash activities: Obtaining finance lease right-of-use assets in exchange for finance lease liabilities 465,511 - Obtaining operating right-of-use assets in exchange for operating leaseliabilities - 862,655 Acquiring property, plant and equipment through accounts payable - 345,535 Property, plant and equipment transferred from construction in progress 22,622 - The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
--Ensuring Safety with Dymax's UV Light-Curing Solutions SINGAPORE, Dec. 17, 2024 /PRNewswire/ -- As a leading manufacture in UV light-curing technology, Dymax is dedicated to ensuring safety in the workplace. Our advanced UV-curing systems, like the Dymax 2000-ECE flood-curing system, are designed with built-in safety features to minimize exposure and maximize performance. This article offers key guidelines for protecting workers from UV light hazards when using industrial curing systems. Ways to Limit Exposure When Using UV Light-Curing Systems Ultraviolet (UV) light is a form of electromagnetic energy invisible to humans. UV light falls below visible light on the so it does not trigger the natural defenses of the eyes, such as pupil dilation experienced with bright visible light. For this reason, it is important to use personal protective equipment and intensity measurement devices and not disable any safety controls designed for the UV light source to limit exposure. Many people often mistake the bright light coming off these systems as harmful, but what they see is harmless visible light. While all UV light has the potential to hurt an employee when used carelessly, shortwave UV energy (UV-C) poses the most significant risk to those using these light sources. Most UV sources sold within the industrial light-curable adhesive market incorporate safer UV-A energy. Reviewing the specifications for the UV source before using it is essential. In industrial settings, users often misunderstand UV exposure, but it is in these settings that manufacturers have the most significant control over a worker's health and safety. Addressing Stray Light UV light-curing systems frequently have safety or engineering controls built into them. These controls, such as shielding, safety interlocks, intuitive design, and light-absorbing plastics, allow operators to use them without exposing themselves to harmful ultraviolet light. A light-curing system, such as a Dymax 2000-ECE flood-curing lamp, can emit stray, visible light between its sections. This light can cause concern amongst users who believe the visible light contains UV-A. To address these fears, manufacturers can utilize a radiometer. This device measures light intensity and can demonstrate the amount of UV light an employee is exposed to while operating a UV-curing system. Taking the radiometer's sensor and holding it near a person's exposed skin while the unit is on and then comparing this to the exposure a person receives outside on a sunny day will show the individual is experiencing greater exposure from the sun. A radiometer can also help prove that the amount of stray light emanating from a curing unit in the visible wavelength does not contain UV-A. UV-A does not reflect from most surfaces, so it is absorbed and turned into heat when it hits a surface. The 2000-ECE flood curing lamp is dichroic and reflects the UV-A energy directly downwards towards the work surface. If the system employs a ZIP™ shutter, a radiometer can verify if it is closing completely so no stray light escapes. When the curtain is closed, it should measure zero UV intensity. It is vital to match the radiometer to the UV wavelength being measured. Employing Personal Protection Equipment Other ways to protect an operator from light exposure include shields, goggles, glasses, face shields, gloves, and long sleeves. Manual (3-sided) and electric Light Shields for flood-curing lamps can offer users 360° eye and skin protection from ultraviolet and visible light while allowing clear visibility of curing parts. However, wearing UV light-blocking safety glasses or goggles is still necessary as an extra precaution against stray light or accidental exposure. Anyone who can visually see the light should wear UV eye protection when utilizing any broad-spectrum or LED curing system because both systems generate light in the UV-A wavelength range. Dymax carries eye protection solutions that are rated to ANSI 87.1 with a maximum UV-A absorption to reduce brightness and irritation associated with a high-intensity light. Using gloves to protect hands from UV exposure is another option. At Dymax, we use disposable, powder-free nitrile gloves. We do not recommend a particular brand or type of glove, but being opaque or UV-blocking would be ideal. Another effective PPE solution is to wear a long-sleeved lab coat to protect the skin from harmful UV exposure. Wearing a lab coat and UV-blocking gloves and using a customized fixture to hold two components together underneath a curing unit may also be employed. Using the appropriate PPE along with a fixture will keep hands and arms away from stray light and be effective from a safety and consistency standpoint. Industrial UV light sources are safe and easy to use with the correct personal protective equipment, use of radiometers, and appropriate training. Teaching employees how to protect themselves from UV exposure and training them to work safely around these UV systems will minimize any potential risk of harm. About Dymax Dymax develops innovative rapid and light-curable materials, dispense equipment, and UV/LED light-curing systems. The company's adhesives, coatings, and equipment are perfectly matched to work seamlessly with each other, providing design engineers with tools to dramatically improve manufacturing efficiencies. Major markets include aerospace and defense, medical device, and consumer and automotive electronics. For additional information on Dymax, visit www.dymax.com or call us at +65 6752 2887.
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