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符合「Transportation/Trucking/Railroad」新聞搜尋結果, 共 2226 篇 ,以下為 25 - 48 篇 訂閱此列表,掌握最新動態
Massimo Group Reports First Quarter 2024 Financial Results

Q1 2024 Revenue Increases 60% YoY to $30.2 Million Q1 2024 Net Income Increases 480% YoY to $3.2 Million New In-Store Agreements with Leading Global Retailers for Motor Vehicles Increased Massimo Motor Production Capacity to 3,000+ Vehicles a Month GARLAND, Texas, May 14, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, has reported its financial and operational results for the first quarter ended March 31, 2024. Key Financial Q1 2024 and Subsequent Operational Highlights and Business Updates ($ millions) Q1 Comparison Q1 2024 Q1 2023 $ Change YoY % Change YoY Revenue $30.2 $18.8 $11.3 60 % Gross Profit $10.5 $5.6 $4.8 86 % Gross Margin 34.7 % 29.8 % -- 500 bps Net Income $3.2 $0.5 $2.6 480 % Closed $5.85 million IPO listing on Nasdaq Capital Market under the ticker symbol "MAMO" on April 4, 2024. Revenue increased 60% to $30.2 million in Q1 2024 compared to $18.8 million in Q1 2023. Gross profit increased 86% to $10.5 million in Q1 2024 from $5.6 million in Q1 2023. Gross margin increased 500 basis points to 34.7% in Q1 2024 from 29.8% in Q1 2023. Net income increased 480% to $3.2 million in Q1 2024, or $0.08 per basic and diluted share, as compared to net income of $0.5 million, or $0.01 per basic and diluted share, in Q1 2023. Entered into an ongoing national agreement with a global omnichannel retailer for its youth series Mini Tractor and Mini 125 Go Karts to be sold in stores. Entered into an ongoing agreement with Fleet Farm, a retailer serving active, outdoor, suburban and farm communities in the Midwest U.S., for its UTV, ATV, and youth series product lines to be sold in stores. Increased production capacity to 3,000+ vehicles each month, a significant jump from previous output levels Added two new models to its 2024 ATV lineup, the Massimo MSA 600 and MSA 1000 ATVs, providing customers with new options for work or on the trail. Unveiled new 2024 1000 UTV, with a powerful 83hp EFI engine that allows for an efficient workday while leaving plenty of room for thrills on the weekends. Showcased a range of vehicles at the 2024 Tractor Supply Company Annual Sales Meeting, annual Thiesen's Home and Farm Show, and 40th Annual Equip Expo. Management Commentary "The first quarter of 2024 was highlighted by our successful IPO and Nasdaq listing, along with substantial top and bottom line growth on strong sales and margin improvement for our diversified and comprehensive product portfolio," said David Shan, Founder, Chairman & CEO. "Our production crew is able to produce 3,000+ vehicles each month, a significant jump from previous output levels. This surge in manufacturing is expected to allow Massimo to meet growing demand while paving the way for exciting new developments. "Two new recent partnership agreements highlighted our in-store distribution channel expansion efforts with major retailers. We signed an ongoing national agreement with a global omnichannel retailer for the youth series Mini Tractor and Mini 125 Go Kart to be sold in stores. The retailer's online marketplace currently features over 100 Massimo products, and with the expanded partnership, the two products will now be eligible to be stocked at over 1,300 stores in 13 states beginning in May. The addition of this first national in-store opportunity with this global retailer represents a significant milestone for our company, and we are well positioned to accelerate robust sales growth with the retailer. We believe with successful sales we can continue to add vehicles to the in-store program. "We also entered into an ongoing agreement with Fleet Farm for six UTV, ATV, and youth series products to be sold in stores and featured on the retailer's online marketplace. "Our focus on distribution channel expansion has resulted in over 2,800 retail locations promoting our brand in 48 states where our products are distributed and will continue to drive sales across our full motor product line of Massimo vehicles.   "Looking ahead, with increased participation in outdoor activities and higher utilization of utility vehicles in ranch and farm-work, demand for UTVs and ATVs in the U.S, we believe we are well positioned for continued market penetration in this high-growth category with our full suite of consumer motor products. We believe with increased operating efficiencies we can further enhance margins while continuing to grow our revenue and expand our product line with new models and capabilities," concluded Mr. Shan. First Quarter 2024 Financial Results For the three months ended March 31, 2024, revenues increased by $11.3 million, or 60.0%, to $30.2 million, compared to $18.8 million in the prior year period. The first quarter increase in revenue was principally due to our expansion at major chain stores and our dealer network. Revenue from sales of UTVs, ATVs and electric bikes increased by $12.2 million, or 74.1%, from $16.5 million in the three months ended March 31, 2023 to $28.7 million in the three months ended March 31, 2024. The increase in revenue was attributable to the expansion into more large retail stores in the US and to a shift in our sales strategy, focusing mostly on in-store sales, which generally involve larger volumes and fewer returns. Revenue from sales of pontoon boats decreased by $0.9 million, or 38.2%, from $2.4 million in the three months ended March 31, 2023 to $1.5 million in the three months ended March 31, 2024. The decrease in revenue was primarily attributable to the fact that we shifted from retailing in Q1 2023 to dealer sales in Q1 2024 and the dealers have experienced more difficulty amid the current high interest rate environment obtaining floorplan financing for customers from providers such as Northpoint. This is consistent with industry-wide trends. Gross profit increased by $4.8 million, or 86.1%, from $5.6 million in the three months ended March 31, 2023 to $10.5 million in the three months ended March 31, 2024. Gross profit margin was 34.7% in the three months ended March 31, 2024, as compared with 29.8% in the prior year quarter. The increase in the gross profit margin was primarily attributable to higher net sales partly due to decreased returns, as well as the lower cost of sales due to reduced freight costs in the first quarter of 2024 as compared to the previous year. Cost of revenue on UTVs, ATVs and electric bikes increased by $7.2 million, or 63.7%, from $11.3 million in the three months ended March 31, 2023 to $18.5 million in the three months ended March 31, 2024 and gross profit increased by $5.0 million, or 96.7%, from $5.2 million in three months ended March 31, 2023 to $10.2 million in three months ended March 31, 2024. Gross profit margin increased by 4.1%, from 31.6% in the three months ended March 31, 2023 to 35.7% in the three months ended March 31, 2024. The increased cost of revenue was in line with the increase in sales. The increase in gross profit margin was mainly due to a significant decline in global container freight when compared with last year. Cost of revenue on pontoon boats decreased by $0.7 million, or 36.4%, from $1.9 million from the three months ended March 31, 2023 to $1.2 million in the three months ended March 31, 2024, and gross profit decreased by $0.2 million, or 46.7%, from $0.4 million in the three months ended March 31, 2023 to $0.2 million in the three months ended March 31, 2024. Gross profit margin decreased by 2.4%, from 17.6% in the three months ended March 31, 2023 to 15.2% in the three months ended March 31, 2024. Selling and marketing expenses increased by $0.3 million, or 13.3%, from $2.0 million in the three months ended March 31, 2023 to $2.2 million in the three months ended March 31, 2024. This is consistent with the fact that the chargebacks from new big box customer have been increased as a result of increased sales. General and administrative expenses increased by $1.1 million, or 37.2%, from $3.0 million in the three months ended March 31, 2023 to $4.1 million in the three months ended March 31, 2024. The increase was mainly due to increased rent expense and professional fees. Total operating expenses increased 31.1% to $6.5 million for the three months ended March 31, 2024, compared to $4.9 million in the prior year first quarter. Net income for the three months ended March 31, 2024, was $3.2 million, or $0.08 per basic and diluted share, as compared to net income of $0.5 million, or $0.01 per basic and diluted share, in the three months ended March 31, 2023. Cash and cash equivalents totaled $0.2 million at March 31, 2024, as compared to $0.8 million at December 31, 2023. On April 24, 2024, Massimo closed its initial public offering with aggregate gross proceeds, before deducting underwriting discounts and commissions and other offering expenses payable by Massimo, of $5.85 million. Net cash used by operating activities was $0.6 million for the three months ended March 31, 2024, compared to cash provided of $0.8 million in the three months ended March 31, 2023, primarily due to increases in accounts receivable and inventory. About Massimo Group Massimo Group (NASDAQ: MAMO) is a manufacturer and distributor of powersports vehicles and pontoon boats. Founded in 2009, Massimo Motor believes it offers some of the most value packed UTV's, off-road, and on-road vehicles in the industry. The company's product lines include a wide selection of farm and ranch tested utility UTVs, recreational ATVs, and Americana style mini-bikes. Massimo Marine manufacturers and sells Pontoon and Tritoon boats with a dedication to innovative design, quality craftsmanship, and great customer service. Massimo is also developing electric versions of UTVs, golf-carts and pontoon boats. The company's 286,000 square foot factory is in the heart of the Dallas / Fort Worth area of Texas in the city of Garland. For more information, visit massimomotor.com, massimomarine.com and www.massimoelectric.com. Forward-Looking Statements This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and the use of proceeds thereof. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "predict," "project," "target," "potential," "seek," "will," "would," "could," "should," "continue," "contemplate," "plan," and other words and terms of similar meaning. These forward-looking statements include information concerning statements regarding future cash needs, future operations, business plans and future financial results; and any other statements that are not historical facts. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Massimo, including those set forth in the "Risk Factors" section of Massimo's annual report on Form 10-K for the for the fiscal year ended December 31, 2023 filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Massimo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. CompanyDr. Yunhao ChenChief Financial OfficerMassimo Groupir@massimomotor.com Investor Relations Chris Tyson Executive Vice President MZ North AmericaDirect: 949-491-8235MAMO@mzgroup.us   MASSIMO GROUP AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS March 31, 2023 (unaudited) December 31, 2023 (audited) As of        March 31, 2024 (unaudited) December 31, 2023 (audited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 207,137 $ 765,814 Accounts receivable, net 14,203,770 9,566,445 Inventories, net 27,182,635 25,800,912 Advance to suppliers 1,406,100 1,589,328 Other current assets 679,319 637,509 Total current assets 43,678,961 38,360,008 NON-CURRENT ASSETS Property and equipment at cost, net 384,551 399,981 Right of use operating lease assets, net 1,197,431 1,478,221 Right of use financing lease assets, net 103,169 113,549 Deferred offering assets 1,563,547 1,457,119 Deferred tax assets 346,948 134,601 Total non-current assets 3,595,646 3,583,471 TOTAL ASSETS $ 47,274,607 $ 41,943,479 LIABILITIES AND EQUITY CURRENT LIABILITIES Short-term loans $ - $ 303,583 Accounts payable 14,772,382 12,678,077 Other payable, accrued expenses and other current liabilities 90,463 98,097 Accrued return liabilities 138,229 283,276 Accrued warranty liabilities 640,525 619,113 Contract liabilities 1,052,342 1,835,411 Current portion of obligations under operating leases 681,872 847,368 Current portion of obligations under financing leases 42,083 41,647 Income tax payable 3,221,201 2,121,083 Total current liabilities 20,639,097 18,827,655 NON-CURRENT LIABILITIES Obligations under operating leases, non-current 515,559 630,853 Obligations under financing leases, non-current 66,338 77,024 Loan from a shareholder 7,909,525 7,920,141 Total non-current liabilities 8,491,422 8,628,018 TOTAL LIABILITIES $ 29,130,519 $ 27,455,673 Commitments and Contingencies EQUITY Common shares, $0.001 par value, 100,000,000 shares authorized, 40,000,000 and 40,000,000 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 40,000 40,000 Preferred shares, $0.01 par value, 5,000,000 preferred shares authorized, no shares were issued and outstanding as of March 31, 2024 and December 31, 2023, respectively - - Subscription receivable (357,159) (832,159) Additional paid-in-capital 1,994,000 1,994,000 Retained earnings 16,467,247 13,285,965 Total equity 18,144,088 14,487,806 TOTAL LIABILITIES AND EQUITY $ 47,274,607 $ 41,943,479   MASSIMO GROUP AND SUBSIDIARIESCONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME 2024 2023 For the Three Months Ended March 31, 2024 2023 Revenues $ 30,151,677 $ 18,840,415 Cost of revenues 19,700,290 13,223,421 Gross Profit 10,451,387 5,616,994 Operating expenses: Selling and marketing expenses 2,210,484 1,950,285 General and administrative expenses 4,106,905 2,984,262 Research and development expenses 162,250 - Total operating expenses 6,479,639 4,934,547 Income from operations 3,971,748 682,447 Other income (expense): Other income, net 247,569 44,895 Interest expense (137,694) (155,098) Total other income (expense), net 109,875 (110,203) Income before income taxes 4,081,623 572,244 Provision for income taxes 900,341 24,079 Net income and comprehensive income $ 3,181,282 $ 548,165 Earnings per share – basic and diluted $ 0.08 $ 0.01 Weighted average number of shares of common stock outstanding – basic and diluted 40,000,000 40,000,000   MASSIMO GROUP AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS 2024 2023 Three Months Ended March 31, 2024 2023 Cash flows from operating activities: Net income $ 3,181,282 $ 548,165 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 36,511 35,300 Non-cash operating lease expense 280,790 184,316 Accretion of finance lease liabilities 1,331 1,784 Amortization of finance lease right-of-use assets 10,380 9,343 Gain on disposal of fixed asset (44,655) - Provision for expected credit loss, net 234,298 104,631 Deferred tax assets (212,347) - Changes in operating assets and liabilities: Accounts receivable (4,871,623) 93,993 Inventories (1,381,723) (672,300) Advance to suppliers 183,228 1,423,742 Other current asset (41,810) (302,580) Accounts payables 2,094,305 (525,990) Other payable, accrued expense and other current liabilities (7,634) (33,401) Tax payable 1,100,118 24,079 Accrued warranty liabilities 21,412 (37,558) Accrued return liabilities (145,047) (292,483) Contract liabilities (783,069) 403,760 Due to shareholder (10,616) (20,273) Lease liabilities – operating lease (280,790) (184,316) Net cash (used in) provided by operating activities (635,659) 760,212 Cash flows from investing activities: Proceed from sales of property and equipment 128,001 - Acquisition of property and equipment (104,427) - Net cash provided by investing activities 23,574 - Cash flows from financing activities: Proceeds from bank loan - 300,000 Repayment of bank loan - (900,000) Repayment of other loans (303,583) - Repayment of finance lease liabilities (11,581) (10,536) Repayment to related party - (10,000) Deferred offering costs (106,428) (75,000) Proceeds from subscription deposits 475,000 - Net cash provided by (used in) financing activities 53,408 (695,536) Net (decrease) increase in cash and cash equivalents (558,677) 64,676 Cash and cash equivalents, beginning of the period 765,814 947,971 Cash and cash equivalents, end of the period $ 207,137 $ 1,012,647 SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Cash paid for interest $ 137,694 $ 155,098 Cash paid for income taxes $ 12,570 $ - NON-CASH ACTIVITIES Right of use assets obtained in exchange for operating lease obligations $ - $ - Right of use assets obtained in exchange for finance lease $ - $ 37,430  

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 69 加入收藏 :
SingPost and Lietuvos pastas (Lithuania Post) sign MOU to strengthen collaboration

SINGAPORE, May 14, 2024 /PRNewswire/ -- Singapore Post (SingPost), a leading postal and eCommerce logistics provider in Asia Pacific, and Lietuvos paštas (Lithuania Post), the largest provider of postal services in Lithuania which connects Baltic region with the world, today announced a joint Memorandum of Understanding (MOU) between both parties to develop mutually beneficial cooperation, and explore opportunities in postal and express delivery sectors. MOU signing ceremony between SingPost and Lithuania Post CEO of Lithuania Post Rolandas Zukas shaking hands with SingPost CEO International Li Yu. Lithuanian Minister of Transport and Communications Marius Skuodis presided over the event. "We envision a future where borders are easily transcended, and our customers enjoy seamless, reliable deliveries across the globe. This MOU signifies a commitment to explore innovative solutions that will benefit our customers, our businesses, and chart new paths of cooperation based on mutual benefit and trust," said Li Yu, CEO, International, SingPost. From left to right: SingPost’s CEO International Li Yu and CEO of Lithuania Post Rolandas Zukas signed an MOU to strengthen collaboration in postal and express delivery. "Collaboration between SingPost and Lithuania Post represents a significant step forward in our commitment to innovation and growth in the global postal industry. We are confident that this MOU synergy will create long-term value for our customers and foster knowledge development and expertise sharing," said Rolandas Zukas, CEO of Lithuania Post. From left to right: SingPost CEO Singapore Shahrin Abdol Salam and SingPost CEO International Li Yu presented a token of appreciation to Lithuanian Minister of Transport and Communications Marius Skuodis and Deputy Minister Agnė Vaiciukevičiūtė at SingPost Centre’s Philatelic Store. The signing ceremony took place in Singapore on 8 May, in the presence of senior representatives from SingPost and Lithuania including Mr Marius Skuodis, Minister of Transport and Communications of the Republic of Lithuania, H.E. Mr Darius Gaidys, Ambassador of the Republic of Lithuania to Singapore and Mr. Rolandas Zukas, CEO Lietuvos pašta (Lithuania Post). The MOU outlines several key areas of collaboration, including: Shared Expertise and Knowledge Exchange: Joint meetings, site visits, and facilitating communication between experts from both postal services to share knowledge in postal development and address any collaboration challenges. Regulatory and Market Insights: Cooperating on understanding postal laws and regulations, universal postal services, market supervision, trade facilitation, and technological innovations. This fosters mutual learning and opens up potential cooperation opportunities. International Advocacy & Support: Strengthening communication and mutual support within the global postal network, the Universal Postal Union (UPU) and relevant international postal organisations to advocate for policies and practices that benefit the wider postal community. E-commerce and Logistics Development: As e-commerce continues to reshape global shipping, the MOU encourages bilateral cooperation, experience exchange, and exploration of new solutions for e-commerce and international parcel flows. The goal is to expand service offerings, enhance service quality, and meet evolving customer needs. About Singapore Post Limited (SingPost) Singapore Post (SingPost) is a leading postal and eCommerce logistics provider in Asia Pacific. The portfolio of businesses spans from national and international postal services to warehousing and fulfilment, international freight forwarding and last mile delivery, serving customers in more than 220 global destinations. Headquartered in Singapore, SingPost has over 4,900 employees, with offices in 13 markets worldwide. Since its inception in 1858, the Group has evolved and innovated to bring about best-in-class integrated logistics solutions and services, making every delivery count for people and planet. www.singpost.com. About Lietuvos Paštas Lietuvos Paštas is a leading provider of postal services in Lithuania, combining a strong business heritage with a focus on modernising its offerings. Customers have access to a diverse range of products and delivery options consisting of continuously expanding network of parcel lockers. Lietuvos paštas has 170 postal outlets and around 440 parcel lockers in Lithuania, also 300 parcel lockers across Latvia and Estonia. >98% of parcels sent via lockers and couriers are delivered next day.

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EACON Mining Secures New Contract and Achieves Autonomous Fleet Deployment in 17 Days

BEIJING, May 14, 2024 /PRNewswire/ -- EACON Mining has once again demonstrated its expertise in the field of opencast coal mining with the 6th  AHS contract. The latest project is the Shitoumei coal mine with reserves of 10 billion tons and an annual production capacity of over 15 million tons. Eacon Mining deployed more than 20 hybrid and diesel trucks and achieved a fully operational autonomous fleet in just 17 days. EACON has deployed a total of 23 autonomous mining trucks in the initial phase, which are organized into three shovel truck fleets. These fleets consist of 13 hybrid EL100 trucks with a payload of 90 tons and 10 diesel-powered trucks with a payload of 70 tons, which are used for overburden mining and coal extraction. All trucks were mobilized by EACON from other projects. Both models were equipped with EACON drive-by-wire systems and ORCASTRA™ Pilot, EACON's autonomous driving system, at the LGMG and Tonly plants. EL100, Hybrid Electric Autonomous Haulage Truck in Shitoumei EACON has more than 250 EL100 trucks in operation, which have already covered 7.4 million kilometers autonomously. The continuous development of the turnkey AHS solution for coal mines ensures rapid deployment within remarkably short time frames. As of March 9, EACON has deployed the entire autonomous fleet at Shitoumei coal mine within 17 days, from initial setup to full operation, without safety drivers. Elaine Jin, COO of EACON Mining Australia, said: "In the coal mine overburden removal sector, EACON's AHS solution has matured significantly, enabling rapid deployment in similar scenarios and significantly reducing the time and cost of implementing an autonomous haulage solution. Building on the foundation laid in coal mines, EACON will extend its AHS solution to metal mines, including gold and iron mines, in 2024." Contact:E-mail:  overseas@eacon.comWebsite: https://www.eacon.com/en/  About EACON Mining Founded in May 2018, EACON is a leader in autonomous transportation solutions and new energy system development, equipping the most traditional mining industry with the most advanced technology. By combining cutting-edge autonomous driving technology with strong on-site operational capabilities, EACON provides a field-proven solution for autonomous transportation and zero-emission truck technology.

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CeMAT Southeast Asia - the Latest in Intralogistics and Supply Chain Management: Coming in One Day

SINGAPORE, May 14, 2024 /PRNewswire/ -- CeMAT Southeast Asia, the global leading trade event for intralogistics, robotics, warehousing, supply chain management, and materials handling, will be happening at the Singapore EXPO from May 15th to 17th, 2024. Serving as the epicentre for the latest industry innovations and as an exchange of ideas and insights on shaping the warehouse of the future, the event is expected to draw over 6,500 attendees. CeMAT stands as a comprehensive hub of leading technology and service providers in the intralogistics industry, with events in China, Indonesia, Italy, Australia, and now for the first time in Singapore. CeMAT is the premier trade fair for intralogistics, materials handling, and supply chain management, providing unmatched opportunities for industry players worldwide. Attendees will be treated to a comprehensive showcase of cutting-edge technologies and services from top-tier providers in intralogistics, robotics and automation, warehousing, supply chain management, and materials handling. The event will highlight innovation and best practices across various sectors, including e-commerce, manufacturing, food industry, and resources. Singapore's focus on innovation and technology adoption is a major driving factor of the intralogistics market. According to new research by Next Move Strategy Consulting, the Singapore Intralogistics market is expected to reach USD 115.9 billion by 2030, with a CARG of 14.9% from 2023 to 2030. With the nation's push towards becoming a smart nation, there is a growing demand for advanced intralogistics technologies such as automated handling systems, robotics and warehouse management handling. The widespread application of intralogistics, including airport, warehousing, automotive, hospitality and logistics has made businesses adopt the technology for their operations. "CeMAT Southeast Asia will be an incredible showcase of the advancements and innovations that are reshaping the intralogistics and supply chain landscape. It will be inspiring to witness industry leaders and exhibitors from all over the world coming together to exchange insights and ideas. As the intralogistics market in Singapore continue to evolve, events like CeMAT will play a crucial role in driving industry growth and fostering collaborations," said Tim Bostridge of Hannover Fairs. Key exhibitors, including Dematic, a leading global supplier of integrated supply chain and warehouse automation technologies, software, and services, will showcase their most recent technologies to Singapore and the Asia Pacific region at the CeMAT Southeast Asia exhibition. Dematic's participation further emphasizes CeMAT Southeast Asia's position as the leading material handling event in the region. The event is expected to feature 30 exhibitors and keynote speakers who will convene to exchange insights and engage in discourse, addressing various aspects of intralogistics, materials handling, and supply chain management. Attendees will seize the opportunity to network with esteemed industry leaders and key influencers, as well as renowned companies such as Cognex, Schaefer, Hyster/Yale, Witron and Geek+. CeMAT Southeast Asia will also proudly host the LogiSYM Asia Pacific conference, offering pragmatic, real-world insights that transcend Logistics and Supply Chain sectors through their global events and the LogiSYM magazine. The partnership between CeMAT and LogiSYM is set to further strengthen both events. Be sure to check out these notable speakers: Peter Tirschwell, Stephanie Krishnan, Wolfgang Lehmacher, Jaya Moorthi Pillay, Milind, and Tom O'Donnell. LogiSYM Asia Pacific couple with CeMAT is the largest gathering of senior Supply Chain and Logistics in the Asia Pacific region. There are numerous, case studies, presentations, panels, networking sessions and closed door round table sessions that stakeholders can gather, collaborate and exchange ideas at. It is also a platform for the "best ' in our industry to showcase what they do. For more information about CeMAT Southeast Asia, visit https://cematseasia.com/. About Hannover Fairs Asia Pacific Hannover Fairs Asia Pacific is part of Deutsche Messe AG. Deutsche Messe was founded in 1947 with the Hannover Export Fair, but has grown to become a globally significant events business operating events and venues around the world. The business operates 9 subsidiary offices including in the US and China, hosts events in over 48 locations, with sales activities in 110 countries. The company is owned by the State of Lower Saxony and the City of Hannover. Our team has a wealth of experience in running events of all shapes and sizes in a vast range of geographies. Their passion is in creating great events that make a difference to the industry's they serve. Welcome to Hannover Fairs Asia Pacific, we look forward to seeing you at one of our events soon.

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Three-Michelin-Star Chef Corey Lee to Unveil New Restaurant 'Na Oh' at Hyundai Motor Group Innovation Center Singapore

Hyundai to collaborate with the world's first Korean chef to earn Three Michelin Stars to deliver contemporary Korean cuisine at Group's first global innovation hub New restaurant 'Na Oh,' due to open in June, will connect food and innovation as part of the customer experience at HMGICS SEOUL, South Korea and SINGAPORE, May 14, 2024 /PRNewswire/ -- In a groundbreaking collaboration between world-renowned three-Michelin-star Chef Corey Lee and Hyundai Motor Group Innovation Center Singapore (HMGICS), Na Oh, a new restaurant concept, is set to add a unique offering to the rich culinary landscape in Singapore. Na Oh – which means 'moving from inside out' in Korean – will be more than just a restaurant. It will be a destination in Singapore that stands as a cultural hub for Korean cuisine, craft and design. Led by the culinary vision of San Francisco-based Chef Corey Lee, Na Oh explores traditional Korean cuisine through a modern lens. Na Oh marks Chef Corey Lee's first project in Southeast Asia, adding an exciting dimension to the city's culinary offerings. HMGICS will be at the core of Na Oh's concept. Integrating Na Oh at HMGICS will further extend the hub's customer experience beyond a conventional automotive production facility, transforming it into a unique hospitality destination in Singapore. Utilizing cutting-edge automation and robotics technology, HMGICS operates a two-story vertical smart farm with the capacity to produce over 30kg of fresh produce daily. It is the world's first robotics smart farm for customer experience and the first of its kind in the world to be open to visitors. Na Oh will source ingredients directly from this facility, establishing a direct connection between food and innovation to offer a unique and refined farm-to-table experience. Under the guidance of Chef Corey Lee, Na Oh's culinary team will deliver an exquisite hansik cuisine calibrated for the modern palate. Drawing inspiration from Korean traditions, Na Oh will not only tantalize taste buds but also provide cultural insights through its curation and collaboration with many of Korea's master artisans. Na Oh is set to open to public in June 2024.

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Polyplastics Launches DURAFIDE (R) PPS 1140HS6 -- New Glass-filled PPS Grade with Improved Thermal Shock Resistance

TOKYO, May 14, 2024 /PRNewswire/ -- Polyplastics Co., Ltd., a leading global supplier of engineering thermoplastics, has announced the launch of a next-generation polyphenylene sulfide (PPS) grade that boasts significantly improved thermal shock resistance and can be easily recycled during post-consumer recycling (PCR) without sorting. DURAFIDE (R) PPS 1140HS6, a 40% glass-filled grade, meets the requirements for metal insert molding, particularly busbars for electric vehicles (xEVs). Image:https://cdn.kyodonewsprwire.jp/prwfile/release/M100475/202405080452/_prw_PI1fl_3yW1CLNH.png  DURAFIDE (R) PPS 1140HS6 can be easily collected without being separated from other PPS components during recycling. Polyplastics has employed a material design technique to ensure thermal shock resistance by minimizing residual strain during molding and homogenizing linear expansion to mitigate internal stress. As a result, thermal shock resistance has been improved while retaining mechanical and other essential properties. DURAFIDE (R) PPS 1140HS6 eliminates molding imperfections and enhances performance without the need for impact modifiers in xEV busbar applications. Insert molded xEV components conduct high-voltage currents in various electrical parts and their complex shapes make them susceptible to cracking. They are usually made up of a metal that conducts electric power and PPS resin that functions as a coating for insulation. This cracking problem is caused by repeated heating and cooling and subsequent rapid temperature changes. This is a significant issue, leading to insulation failure, particularly in the critical parts of xEVs that conduct high-voltage currents. The typical solution is to add impact modifiers to PPS. Still, this approach has drawbacks, such as a reduction in material strength and the tendency for gases and mold deposits to emerge during molding. Additionally, materials containing impact modifiers are incompatible with the growing trend of material recycling. The newly developed DURAFIDE (R) PPS 1140HS6 resin offers better flowability during injection molding than standard materials. This makes it an ideal choice for molding both thin-wall and large products. *DURAFIDE (R) is a trademark of Polyplastics Co., Ltd. in Japan and other countries. Please also visit: https://www.polyplastics-global.com/en/approach/27.html  About Polyplastics: https://kyodonewsprwire.jp/attach/202405080452-O1-1V9qk3QD.pdf 

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