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Autoliv: Financial Report January - March 2023

STOCKHOLM, April 21, 2023 /PRNewswire/ -- (NYSE: ALV) and (SSE: ALIV.sdb) Q1 2023: Strong sales growth Financial highlights Q1 2023$2,493 million net sales 17% net sales increase21% organic sales increase*5.1% operating margin5.3% adjusted operating margin*$0.86 EPS - 9% decrease$0.90 adjusted EPS* - 99% increase Full year 2023 indicationsAround 15% organic sales growthAround 1% negative FX effect on net salesAround 8.5%-9.0% adjusted operating marginAround $900 million operating cash flow Key business developments in the first quarter of 2023 Sales increased organically* by 21%, which was 15pp better than global LVP growth of 6.1% (S&P Global April 2023). We outperformed significantly in all regions, mainly due to new product launches and higher prices. Profitability in line with our indication, positively impacted by price increases, organic growth and our cost reduction activities. Operating income was $127 million and operating margin was 5.1%. Adjusted operating income* improved from $68 million to $131 million and adjusted operating margin* increased from 3.2% to 5.3%, despite inflationary pressure, volatile LVP and adverse FX effects. Return on capital employed was 13.0% and adjusted return on capital employed* was 13.4%. Operating cash flow decreased from $70 million to negative $46 million, driven mainly by negative working capital effects due to the high sales growth. Free cash flow* decreased to negative $189 million, as capex, net, increased due to capacity expansions and footprint activities. The leverage ratio* increased from 1.4x in the fourth quarter 2022 to 1.6x, impacted by higher net debt. A dividend of $0.66 per share was paid, and 0.45 million shares were repurchased and retired in the quarter. *For non-U.S. GAAP measures see enclosed reconciliation tables. Key Figures (Dollars in millions, except per share data) Q1 2023 Q1 2022  Change Net sales $2,493 $2,124 17 % Operating income 127 134 (5.4) % Adjusted operating income1) 131 68 93 % Operating margin 5.1 % 6.3 % (1.2)pp Adjusted operating margin1) 5.3 % 3.2 % 2.1pp Earnings per share2) $0.86 $0.94 (8.8) % Adjusted earnings per share1,2) 0.90 0.45 99 % Operating cash flow (46) 70 n/a Return on capital employed3) 13.0 % 14.6 % (1.6)pp Adjusted return on capital employed1,3)  13.4 % 7.4 % 6.0pp 1) Excluding effects from capacity alignment and antitrust related matters. Non-U.S. GAAP measure, see reconciliation table.2) Assuming dilution when applicable and net of treasury shares. 3) Annualized operating income and income from equity method investments, relative to average capital employed.   Comments from Mikael Bratt, President & CEOI am pleased with our strong sales growth, supported by product launches and price increases, and that we outperformed LVP in all regions significantly. The operating margin impact of the strong sales growth was lower than it should be in the quarter. This is because new product launches normally have lower operating leverage initially. As production ramps up and stabilizes, operating leverage is expected to improve. Together with our actions for cost reductions and price adjustments, this will give the significant full year profit improvement that we expect.The operating environment in the first quarter 2023 was, as expected, challenging, especially in Europe. We reported an adjusted operating margin in line with prior communication.Other highlights in the quarter were that our balance sheet and expected cash flow allowed for continued high shareholder returns, and that we issued our first ever green bond. We expect  a strong full year cash flow, although our cash flow was temporarily weak in Q1 due to the strong sales growth in March.We saw continued updates of crash test standards and safety regulations in the U.S. and in India which will support continued increase in safety content per vehicle. Our market position is strong, and we are investing for increased production with a new textile facility in Vietnam. We also continue to look for ways to improve our footprint and to reduce our costs structurally. The year has so far developed as expected. Like last year, inflationary pressure impacted the first quarter significantly, and in line with last year, we expect to offset this during the rest of the year through productivity, cost reduction actions and price adjustments. This supports my confidence in expecting a gradually improving adjusted operating margin, which should allow us to deliver a significant full year increase in cash flow and adjusted operating income and to reach the full year indications we set at the beginning of the year.Inquiries: Investors and AnalystsAnders TrappVice President Investor RelationsTel +46 (0)8 5872 0671 Henrik KaarDirector Investor RelationsTel +46 (0)8 5872 0614 Inquiries: MediaGabriella EkelundSenior Vice President CommunicationsTel +46 (0)70 612 6424 Autoliv, Inc. is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the VP of Investor Relations set out above, at 12.00 CET on April 21, 2023. The following files are available for download: https://mb.cision.com/Main/751/3755900/2001515.pdf The full report (PDF)    

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 396 加入收藏 :
Jayud Global Logistics Limited Announces Pricing of Initial Public Offering

SHENZHEN, China, April 21, 2023 /PRNewswire/ -- Jayud Global Logistics Limited (the "Company" or "Jayud"), one of the leading Shenzhen-based end-to-end supply chain solution providers in China, today announced the pricing of its initial public offering (the "Offering") of 1,250,000 Class A ordinary shares at a public offering price of US$4 per Class A ordinary share. The Class A ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on April 21, 2023 under the ticker symbol "JYD." The Company expects to receive the gross proceeds of US$5 million from the Offering. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 187,500 Class A ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about April 25, 2023, subject to the satisfaction of customary closing conditions. Proceeds from the Offering will be used for supplementing the Company's operating cash flow and general corporate use; leasing or purchasing warehouses that have strategic importance to the Company's business operation; adding new chartered services in key trade lines in the future; registration and operation of the Company's overseas business entities, branches and offices; and potential mergers and acquisitions in the future. The Benchmark Company, LLC is acting as the sole bookrunning manager for the Offering. A registration statement on Form F-1, as amended, relating to the Offering was filed with the U.S. Securities and Exchange Commission ("SEC") (File Number: 333-269871) and was declared effective by the SEC. The Offering was made only by means of a prospectus. Copies of the prospectus relating to the Offering may be obtained from The Benchmark Company, LLC, 150 East 58th Street, 17th floor, New York, NY 10155, by email at prospectus@benchmarkcompany.com, or by calling +1 (212)312-6700. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. About Jayud Global Logistics Limited Jayud Global Logistics Limited is one of the leading Shenzhen-based end-to-end supply chain solution providers in China, with a focus on cross-border logistics services. Headquartered in Shenzhen, the Company benefits from the unique geographical advantages of providing high degree of support for ocean, air and overland logistics. The Company has established a global operation nexus featuring logistic facilities throughout major transportation hubs in China and globally, with footprints in 12 provinces in Mainland China and 16 countries across 6 continents. Jayud offers a comprehensive range of cross-border supply chain solution services, including freight forwarding services supply chain management, and other value-added services. With its strong service capabilities and research and development capabilities in proprietary IT systems, the Company provides customized and efficient logistics solutions and develops long-standing customer relationships. For more information, please visit the Company's website: https://ir.jayud.com. Forward-Looking Statements Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. 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, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. 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 SEC. For more information, please contact: Jayud Global Logistics LimitedInvestor Relations DepartmentEmail: ir@jayud.com Ascent Investors Relations LLCTina XiaoPhone: +1 917 609-0333Email: tina.xiao@ascent-ir.com   

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 431 加入收藏 :
Cango Inc. Announces New Share Repurchase Program

SHANGHAI, April 21, 2023 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that its board of directors has authorized a new share repurchase program (the "New Share Repurchase Program") under which the Company may repurchase up to US$50 million worth of its outstanding (i) American depositary shares ("ADSs"), each representing two Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 12 months starting from April 25, 2023. The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, in accordance with applicable rules and regulations. The number of ADSs and/or Class A ordinary shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with Cango's working capital requirements and general business conditions. The Company's board of directors will review the New Share Repurchase Program periodically, and may authorize adjustment of its terms and size. The Company plans to fund the repurchases from its existing cash balance. On April 22, 2022, the Company announced a share repurchase program (the "Existing Share Repurchase Program") under which the Company may repurchase up to US$50 million worth of its outstanding ADSs and/or Class A ordinary shares. Pursuant to the Existing Share Repurchase Program, the Company had repurchased 2,794,557 ADSs from the open market with cash in the aggregate amount of approximately US$5.7 million up to April 17, 2023. For avoidance of doubt, the Existing Share Repurchase Program will remain in effect until its expiration on April 25, 2023. About Cango Inc. Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China connecting car buyers, dealers, financial institutions, and other industry participants. Founded in 2010 by a group of pioneers in China's automotive finance industry, the Company is headquartered in Shanghai and has a nationwide network. Leveraging its competitive advantages in technological innovation and big data, Cango has established an automotive supply chain ecosystem, and developed a matrix of products centering on customer needs for auto transactions, auto financing and after-market services. By working with platform participants, Cango endeavors to make car purchases simple and enjoyable, and make itself customers' car purchase service platform of choice. For more information, please visit: www.cangoonline.com.  Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the "Business Outlook" section and quotations from management in this announcement, contain forward-looking statements. Cango may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Cango's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Cango's goal and strategies; Cango's expansion plans; Cango's future business development, financial condition and results of operations; Cango's expectations regarding demand for, and market acceptance of, its solutions and services; Cango's expectations regarding keeping and strengthening its relationships with dealers, financial institutions, car buyers and other platform participants; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Cango's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Cango does not undertake any obligation to update any forward-looking statement, except as required under applicable law. Investor Relations Contact Yihe LiuCango Inc.Tel: +86 21 3183 5088 ext.5581Email: ir@cangoonline.comTwitter: https://twitter.com/Cango_Group Helen WuPiacente Financial CommunicationsTel: +86 10 6508 0677Email: ir@cangoonline.com

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 263 加入收藏 :
Kia commits to advancing human wellbeing and environmental sustainability at Milan Design Week

Kia presents bold 'Opposites United' design exhibition, which offers new approach to delivering sustainability solutions, at Milan Design Week Kia to prioritize design that overcomes divergence of human everyday needs and essential sustainability requirements New Kia EV9 exemplifies new approach and utilizes a range of innovative sustainable materials, to deliver a premium look and feel, setting new standards for sustainable mobility Brand's first global exhibition nominated for 'Fuorisalone Award' which recognizes the 'best' of the Milan Design Week MILAN, April 21, 2023 /PRNewswire/ -- Kia is presenting a bold design approach in an exhibition titled 'Opposites United' at Milan Design Week. The multi-media event illustrates how the company will create new sustainable mobility solutions through harmonizing the apparent opposing concepts of human mobility requirements and environmental impact.  The exhibition is nominated for the prestigious 'Fuorisalone Award', which recognizes the most memorable events of the Milan Design Week.  The exhibition is nominated for the prestigious ‘Fuorisalone Award’, recognizing the most memorable events of the Design Week. The exhibition serves not only as a creative platform to externally communicate Kia's 'Opposites United' design philosophy in an innovative and interactive way, but also acts as a lens to inwardly focus the sustainable mobility company's priorities as it turns its attention to further implementing its design philosophy in future products. "Kia's design philosophy represents far more than just the way our cars look," said Ho Sung Song, Kia President and CEO. "It reflects our commitment to compatibly advance two crucial areas which have come to be at odds with one another: human mobility needs and environmental sustainability." "With the 'Opposites United' design philosophy, Kia aims to demonstrate its innovative approach that enriches customers' experiences while leaving a positive legacy for future generations," Song added. Karim Habib, Executive Vice President and Head of Kia Global Design Center, commented: "Kia is crafting transformational products that are desirable and balance the contrasts between environmental responsibilities and modern life. Through this approach, we aim to create authentic and inspiring experiences for our customers, which enable them to foster greater societal connections and pursue a better quality of life." Kia has incorporated this design philosophy into its new flagship model, the Kia EV9, which utilizes a range of innovative sustainable materials and processes to deliver a premium look and feel while reducing the model's impact on the environment. A pioneering milestone for Kia, the EV9 is the first model to embrace the brand's three-step Design Sustainability Strategy, initiated to phase out the use of leather, apply ten 'must-have' sustainable items to all new Kia models, and continuously increase the use of bio-based materials such as corn, sugar cane, and natural oils. Subsequent products will seek to build on this platform, as Kia aims to fulfil its commitment to increasing the proportion of recycled plastics it uses to 20 per cent by 2030 and achieving full carbon neutrality throughout the company's value chain by 2045. The 'Opposites United' exhibition has been nominated for the 'Fuorisalone Award'. Presented annually and distinguished by public vote, this award recognizes and champions the most memorable installations showcased in Milan. For more information about Kia's design philosophy, please visit: www.kianewscenter.com 

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In Support of Earth Day, Cyrusher Offers an E-bike sale plan for Cycling Enthusiasts

LOGAN, Utah, April 21, 2023 /PRNewswire/ -- Cyrusher, a reputable e-bike manufacturer, has always been committed to the preservation and development of the environment. E-bikes provide a reliable means of travel for people to reduce their carbon footprint. In support of Earth Day, Cyrusher e-bikes are offering an E-bike sale plan with many models to provide people with a more economical means of green travel and encourage more people to participate in environmental activities to ride for a greener planet. Cyrusher has left a green footprint on the world with a cumulative carbon footprint reduction of 92,751T+. "The Earth's environment is closely linked to our survival as human beings. As a company that provides people with personal mobility, Cyrusher is taking the lead in encouraging people to get involved in cycling and reducing society's carbon footprint. Cyrusher will always uphold sustainability initiatives as a guideline for the company to move forward and continue to make a positive impact on the green development of society." says Harry Xie, the CEO of the Cyrusher electric bike. World Earth Day Set on 22 April each year, World Earth Day has become a significant event calling for and advocating environmental awareness. It is currently observed in more than 190 countries and territories worldwide. The establishment of Earth Day brings together society, businesses, and individuals to address environmental issues and speak out for the planet. The Earth Day theme has led to the development of environmental laws and regulations to protect the planet, as well as to the implementation of more ecological initiatives. The Earth Crisis Environmental protection has become an urgent international issue, with global warming, frequent crustal movements, and extreme weather events affecting the productive activities of human beings. The sustainability of the planet's ecosystem is nevertheless impacted by frequent human activity and the rise in society's carbon footprint. The only option to slow the deterioration of the ecosystem is to strictly restrict carbon emissions since global warming is a developing issue and the effects of human activities on the environment are irreversible. Since its inception, the Cyrusher e-bike has been powered by a recyclable lithium battery, which inevitably generates a quantitative amount of carbon emissions during the production phase. However, the practically zero carbon emission standard in use makes it still the primary mode of transport for environmentally friendly travel. Cyrusher provides riders with fat-tire e-bikes to enrich their cycling options and meet their cycling needs, making them an efficient personal mobility tool that enhances mobility efficiency and reduces carbon footprint. Other Benefits While providing constructive inspiration for addressing social issues, e-bikes are also a great way to optimize cities and alleviate personal health problems. In addition to the wasteful pollution that threatens the environment, the increasing popularity of cars also threatens the efficiency of people's journeys, as is the traffic congestion on urban roads. With the growing expropriation of urban land, the need for larger car parking spaces is a challenging task for urban planning. Building a comfortable and liveable society makes the investment and development of e-bikes even more beneficial. Secondly, e-bikes can help to alleviate people's health conditions in a tangible way. Exercising with an e-bike is the main reason why many people choose this vehicle. Most urban travel needs are for short trips, and this can be done with an e-bike, such as commuting to work, daily supermarket shopping, picking up and dropping off children, etc. Similar to a car, it offers faster travel efficiency, but the difference is that the e-bike allows the rider the initiative to mobilize the body to move up to a certain amount of exercise. As a result, if ridden consistently over a long period of time, it can achieve weight loss, alleviate a variety of health problems such as emotional anxiety and help people develop a more positive attitude towards life. Cyrusher's Earth Day Sale Cyrusher consistently adheres to the principles of supporting social sustainability, and the firm celebrated Social Earth Day by offering a 30% discount on a selection of e-bike models to encourage more people to cycle and opt for environmentally friendly modes of transportation to actively contribute to preserving the social environment. Specific Price Tag The majority of Cyrusher's best-selling models will be present at the Earth Day sale, including step-through models that are easier to get on and off and entry-level models for novices as well as portable folding ebikes and professional electric mountain bicycles for adventure riding. A wide variety of e-bike models are available at Cyrusher to meet the multiple needs of riders. The Earth Day sales price tags are as follows: XF650: $1599 -- $1,119 XF800: $1899 -- $1,329 XF900 17ah: $2299 -- $1,609 XF900 20ah: $2499 -- $1,749 XF690 MAXS: $1899 -- $1,329 KOMMODA: $1899 -- $1,329 KUATTRO: $2099 -- $1,469 BANDIT: $2099 -- $1,469 MONTTA: $2099 -- $1,469 Popular Models Cyrusher's e-bike collection is constantly being updated with innovations, and it currently includes a wide variety of models to accommodate riders of different ages, races, and sizes. The entry-level ebike XF650 and the Kommoda step-through electric bike are two of the most popular models among riders. The most popular product in this sale is the XF650, which has the most cost-effective offering and allows more people an affordable way of getting started with e-bikes. Featuring a powerful motor and a removable 48V 16AH large-capacity battery to provide the rider with ample power, the XF650 is a fantastic value-for-money offering for novices to get started. In an effort to enhance ride comfort and stability, the bike comes with shock-absorbing forks and puncture-resistant fat tires. Having these features enables you to enjoy the swift ride of an e-bike more quickly and comfortably. The Kommoda is a step-through model that is highly accessible and a practical option for riders who have mobility issues, leg difficulties, or are new to e-bikes. Additionally, this bike includes an enhanced full suspension system, hydraulic brake components, and other features that make riding it safe and enjoyable. Riders can decide on a bike based on their personal needs and help reduce carbon emissions by pedaling. With the sale of more than 83,000 models worldwide and the initiation of green cycling activities by more than 78,000 riders, Cyrusher has already distributed its products to more than a dozen different areas and countries. Cyrusher has left a green footprint on the world with a total distance of over 2,500W km and a cumulative carbon footprint reduction of 92,751T+. Pedal for the Earth Creating a greener planet is a duty and mission for every nation, business, and individual. By doing simple daily events, you can contribute to the cause. Use recyclable clothes instead of FMCG brands, eco-friendly bags instead of plastic bags, electric vehicles in place of traditional automobiles, etc. Among these, the most effective action to lower your carbon footprint is to start riding an electric vehicle, as transportation accounts for the largest share of society's carbon footprint statistics. Put on your pedals for a healthier planet and you! About Cyrusher Cyrusher is a reputable producer of electric bicycles for professionals that have been successfully marketed in more than 10 nations worldwide. The brand's electric bicycles pass rigorous international quality tests and meet CE, UL, Rhos and FCC requirements. Additionally, Australia, China, the EU, Japan, Korea and the USA have registered and approved the brand. An offline store test-ride service has also been introduced in a number of nations, including the USA, UK and France. Cyrusher will keep expanding its range of vehicles to satisfy the needs of more riders, offering a solution for zero-carbon, fast and convenient urban commuting. Cyrusher Contact: UK official website: www.cyrusher.co.ukUS official website: www.cyrusher.comFrench official website: www.cyrusher.frGerman official website: www.cyrusher.dePhone: (800)778-0116Email: support@cyrusher.com

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 2414 加入收藏 :
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