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Ranked first among MWA medical device providers in thyroid nodule and breast lump treatment with approximately 35% market share in China[1] Extensive distribution network with over 430 hospitals penetrated and national coverage across 21 provinces, municipalities, and autonomous regions in China Proposed transaction represents a pre-money equity value of $300 million for Baird Medical and an implied pro forma enterprise value of approximately $370 million for the combined company Existing Betters shareholders will roll 100% of their current equity holdings into equity of the combined company SAN FRANCISCO and GUANGZHOU, China, June 26, 2023 /PRNewswire/ -- Baird Medical Investment Holdings Limited ("Baird Medical" or the "Company"),[2] a medical technology company, and ExcelFin Acquisition Corp. ("ExcelFin") (NASDAQ: XFIN), a publicly traded special purpose acquisition company, have entered into a definitive business combination agreement that would result in Baird Medical becoming a publicly traded company. Upon the closing of the proposed transaction between Betters and ExcelFin, the combined company will operate as Baird Medical Investment Holdings Limited and be listed on the Nasdaq under the new ticker symbol BDMD. Baird Medical is a leading microwave ablation (MWA) medical device developer and provider in China. MWA has gained increasing recognition in China as a treatment for several tumor types, with benefits to patients, doctors, and public healthcare costs. According to Frost & Sullivan, Baird Medical is the largest MWA medical device provider for thyroid nodules and breast lump treatment in China. Baird Medical Investment Highlights Leader in a Large, Underserved Market: The medical device market in China has a current estimated value of approximately $146 billion, and is predicted to grow by approximately 7.8% per annum between 2023 and 2026. Baird Medical's devices strategically and efficiently target specialty treatment areas, including thyroid nodules, breast lumps, and liver cancer. With its proprietary MWA medical devices, Baird Medical is ranked first among MWA medical device providers in thyroid nodule and breast lump treatment, with approximately 35% market share in China. Extensive Sales and Distribution Network: Since being founded in 2012, Baird Medical has established nationwide coverage in China through partnerships with over 100 distributors. This extensive distribution network has enabled Baird Medical to penetrate over 430 hospitals, including over 250 Grade III hospitals. With more than 60% of its total 2022 revenue from direct sales to hospitals with higher margins, for fiscal year 2022, Baird Medical has been able to achieve a net income of $13 million and an attractive adjusted EBITDA margin of 55%.[3] Strong R&D Capabilities: Baird Medical has built an experienced in-house R&D team led by industry experts. The Company actively collaborates with well-regarded institutions to drive innovation and develop cutting-edge medical solutions. Baird Medical has 38 registered patents and was the first company to obtain a Class III medical device registration certificate for MWA medical devices specifically indicated for thyroid nodules in China. Delivering Value to all Stakeholders in the Value Chain: The Company believes that MWA offers patients a safe, minimally invasive treatment option with rapid recovery times. For hospitals, Baird Medical's MWA treatment offers shorter observation times and hospital stay periods, increasing operational efficiency. For medical practitioners, MWA treatment requires shorter operation times and involves relatively low risk as compared to open surgery. For insurers, MWA treatment decreases medical expenses for both private providers and the government. Multiple Levers for Growth: Baird Medical has long planned to develop the Company into a global medical device company, and aims to expand into the U.S., EU, and Southeast Asia within the next three years. To capture global market share, Baird Medical is in the process of applying for additional Class III medical device registration certificates for proprietary MWA medical devices specifically indicated for pulmonary nodules and other conditions. Furthermore, the Company intends to apply for FDA registration in the U.S. and CE Marks registration in the EU. Strong Financial Profile: Baird Medical recorded revenues of $35 million in 2022, representing a 28% increase from $27 million in 2021. The Company had net income of $12 million and $13 million in 2021 and 2022, respectively, and achieved an attractive adjusted EBITDA margin of 63% and 55% in 2021 and 2022, respectively.[4] As Baird Medical continues to expand its current footprint and execute its growth strategies, the Company is expected to grow revenue significantly in the coming years, with $18 million in projected net income, $45 million in projected revenue, and a projected adjusted EBITDA margin of 57% for 2023.[5] Highly-Experienced Management Team Supported by Well-Regarded Independent Board of Directors: Baird Medical is led by an experienced management team with deep industry knowledge and track records of driving scale and sustainable growth. Baird Medical's board of directors includes medical industry experts with prestigious accreditations and awards, publications, and research. [1] According to the Global Market Study of Ablation Therapy Independent Market Research Report (the "Frost & Sullivan Report") commissioned by the Baird Medical and prepared by Frost & Sullivan, a third-party global research organization. [2] The name of the post-closing, combined public company will be "Baird Medical Holdings Investment Limited." All references herein to "Baird Medical" shall be deemed to refer (i) to Betters Medical Investment Holdings Limited ("Betters") for any time periods or historical events occurring prior to the closing of the transaction and (ii) to Baird Medical Holdings Investment Limited for any time periods occurring after the closing of the transaction. [3] Adjusted EBITDA margin is a non-GAAP measure. Please see the tables at the end of this press release for a reconciliation of Adjusted EBITDA to Net Income. [4] Adjusted EBITDA margin is a non-GAAP measure. Please see the tables at the end of this press release for a reconciliation of Adjusted EBITDA to Net Income. [5] Adjusted EBITDA margin is a non-GAAP measure. Please see the tables at the end of this press release for a reconciliation of Adjusted EBITDA to Net Income. Management and Board Commentary Ms. Haimei Wu, Founder and CEO of Baird Medical "The business combination with ExcelFin marks a significant milestone for Baird Medical. We believe ExcelFin's partnership and international connections will provide us with the necessary resources to further expand our presence in the global market, accelerate our growth trajectory, and continue delivering innovative medical solutions to patients worldwide. We are confident that this combination will unlock opportunities and drive our vision of transforming healthcare through advanced, minimally invasive treatments." Joe Ragan, CEO, CFO, and Director of ExcelFin "We are very excited to be joining forces with Ms. Haimei Wu and her excellent team at Baird Medical, given their strong track record in the medical device industry. We are confident that capitalizing on our experience and network globally will catalyze a successful new chapter of growth and innovation for Baird Medical as a public company." Dr. Michael Mingzhao Xing, M.D., Ph.D., Independent Non-Executive Director "As an independent non-executive director of Baird Medical, I extend my heartfelt congratulations on our business combination with ExcelFin Acquisition Corp. We are excited to expand our footprint to key markets in the U.S., Europe, and Southeast Asia in the next three years. This will allow us to provide minimally invasive oncology treatments to hospitals around the world and improve lives on a greater scale." Transaction Terms Baird Medical Investment Holdings Limited, a newly formed exempted company incorporated with limited liability in the Cayman Islands, will be the surviving public company following the consummation of the business combination. The combined company will have an estimated post-transaction enterprise value of $370 million, assuming 50% redemptions by ExcelFin public shareholders. Proceeds from the transaction will be used to fund growth. The transaction includes a $15 million minimum closing cash condition. To facilitate the transaction, Grand Fortune Capital, sponsor affiliate of ExcelFin, has agreed to purchase approximately $8.8 million of Baird Medical's current debt from BOCI Investment Limited, one of Betters' current preferred shareholders. ExcelFin's and Baird Medical's respective boards of directors have unanimously approved the transaction, which is expected to close in the fourth quarter of 2023, subject to regulatory and shareholder approvals. Betters shareholders will roll 100% of their existing Betters equity holdings into ordinary shares of Baird Medical and are expected to own approximately 81% of Baird Medical on a non-fully diluted basis immediately following the closing of the proposed business combination, assuming 50% redemptions by ExcelFin's public stockholders. Additional information about the proposed transaction, including a copy of the business combination agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by ExcelFin with the Securities and Exchange Commission ("SEC") and will be available at www.sec.gov. Baird Medical will file a registration statement (which will contain a proxy statement of ExcelFin and prospectus) with the SEC in connection with the transaction. Advisors Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC ("Cohen"), acts as ExcelFin's lead financial and capital markets advisor. Exos Securities also serves as financial and capital markets advisors to ExcelFin. Shearman & Sterling LLP is acting as ExcelFin's legal counsel, Dechert is acting as Baird Medical's legal counsel, and Ropes & Gray LLP is acting as Cohen's legal counsel. About Baird Medical Established in 2012 and headquartered in Guangzhou, China, Baird Medical is a leading microwave ablation (MWA) medical device developer and provider in China. Baird Medical's proprietary MWA medical devices are used for treatment of benign and malignant tumors including thyroid nodules, liver cancer, lung cancer and breast lumps. Baird Medical is the first company to obtain Class III medical devices registration certificate for MWA medical devices specifically indicated for thyroid nodules in China. For more information, please visit http://baidesz.com/. About ExcelFin ExcelFin is a blank check company formed as a Delaware corporation for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. ExcelFin's sponsors include Grand Fortune Capital, LLC ("GFC") and Fin Venture Capital ("Fin"). GFC is an affiliate of an investment group that completed a series of significant M&A transactions and investments in FinTech, TMT and Healthcare. Fin is a private equity firm focused on FinTech software. Forward-Looking Statements This communication contains "forward-looking statements" within the meaning of the U.S. federal securities laws. Such statements include statements concerning anticipated future events and expectations that are not historical facts. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements are typically identified by words such as "believe," "expect," "anticipate," "intend," "target," "estimate," "continue," "positions," "plan," "predict," "project," "forecast," "guidance," "goal," "objective," "prospects," "possible" or "potential," by future conditional verbs such as "assume," "will," "would," "should," "could" or "may," or by variations of such words or by similar expressions or the negative thereof. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, including, without limitation: (1) risks related to the consummation of the proposed transaction, including the risks that (a) the proposed transaction may not be consummated within the anticipated time period, or at all, (b) ExcelFin may fail to obtain stockholder approval of the proposed business combination, (c) the parties may fail to secure required regulatory approvals under applicable laws, and (d) other conditions to the consummation of the proposed transaction under the business combination agreement may not be satisfied; (2) the effects that any termination of the business combination agreement may have on ExcelFin or Baird Medical or their respective business, including the risks that ExcelFin's share price may decline significantly if the proposed transaction is not completed; (3) the effects that the announcement or pendency of the proposed transaction may have on Baird Medical's and its business, including the risks that as a result (a) ExcelFin's business, operating results or stock price may suffer or (b) ExcelFin's or Baird Medical's current plans and operations may be disrupted; (4) the inability to recognize the anticipated benefits of the proposed transaction; (5) unexpected costs resulting from the proposed transaction; (6) changes in general economic conditions; (7) regulatory conditions and developments; (8) changes in applicable laws or regulations; (9) the nature, cost and outcome of pending and future litigation and other legal proceedings, including any such proceedings related to the proposed transaction and instituted against ExcelFin, Baird Medical and others; and (10) other risks and uncertainties indicated from time to time in the registration and proxy statement relating to the proposed transaction, including those under "Risk Factors" therein, and in ExcelFin's filings with the SEC. Potential investors, shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Neither ExcelFin nor Baird Medical assumes any obligation to publicly update any forward-looking statement after it is made, whether as a result of new information, future events or otherwise, except as required by law. Non-GAAP Financial Measures This press release includes adjusted EBITDA margin, which is not presented in accordance with generally accepted accounting principles ("GAAP"). Non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company's financial results. You should be aware that the Company's presentation of these measures may not be comparable to similarly-titled measures used by other companies. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. The Company believes non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to the Company's financial condition and results of operations. The Company believes that the use of non-GAAP financial measures provide an additional tool for investors to use in evaluating ongoing operating results and trends in and in comparing the Company's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. A reconciliation of historical adjusted EBITDA margin to net income is provided in the tables at the end of this press release. With respect to projected adjusted EBITDA margin, due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, the Company is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results. Additional Information and Where to Find It In connection with the proposed transaction, (1) Baird Medical intends to file with the SEC a registration statement on Form F-4, which will include a preliminary proxy statement/prospectus and other relevant documents, which will be both the proxy statement to be distributed to ExcelFin's stockholders in connection with ExcelFin's solicitation of proxies for the vote by ExcelFin's stockholders with respect to the proposed business combination and other matters as may be described in the Registration Statement, as well as the prospectus relating to the offer and sale of the securities of Baird Medical to be issued in connection with the business combination. STOCKHOLDERS OF EXCELFIN ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT BAIRD MEDICAL AND EXCELFIN WILL FILE WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Stockholders and investors will be able to obtain free copies of the proxy statement/prospectus and other relevant materials (when they become available) and other documents filed by Baird Medical and ExcelFin at the SEC's website at www.sec.gov. Copies of the proxy statement/prospectus (when they become available) and the filings that will be incorporated by reference therein may also be obtained, without charge, on ExcelFin's website at www.excelfinacquisitioncorp.com or by directing a request to: ExcelFin Acquisition Corp., 473 Jackson St., Suite 300, San Francisco, CA, 94111. The information contained on, or that may be accessed through, the websites referenced in this document is not incorporated by reference into, and is not a part of, this document. Participants in Solicitation Each of ExcelFin and Baird Medical and their respective directors, executive officers and certain employees, may be deemed, under SEC rules, to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding ExcelFin's directors and executive officers is available in ExcelFin's final prospectus dated October 22, 2021 relating to its initial public offering and in ExcelFin's subsequent filings with the SEC. Other information regarding Baird Medical and the other participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above. No Offer or Solicitation This communication is for informational purposes only and not intended to and does not constitute an offer to subscribe for, buy or sell, the solicitation of an offer to subscribe for, buy or sell or an invitation to subscribe for, buy or sell any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law. Contacts Investor RelationsRobin Yang, PartnerICR, LLCPhone: +1 (646) 308-1475Email: BairdMedical.IR@icrinc.com Public RelationsBrad Burgess, Senior Vice PresidentICR, LLCPhone: +1 (646) 588-0383Email: BairdMedical.PR@icrinc.com Reconciliation of Net Income to Adjusted EBITDA Margin ($M) 2021 2022 Net Income $12.3 $12.6 (+) Depreciation 1.1 0.8 (+) Income Tax 2.4 2.5 (+) Interest Expenses 0.2 0.3 (+) Listing Expenses 2.2 3.6 (-) Other Income (Excluding Interest Income / Expenses) (1.0) (0.3) Adjusted EBITDA $17.2 $19.5 Net Income Margin 45.0 % 35.8 % Adjusted EBITDA Margin 62.7 % 55.2 %
Google Cloud clients migrating sensitive data to the cloud can do so with greater confidence now that Google Cloud has been certified against EDMC's CDMC control framework NEW YORK, June 26, 2023 /PRNewswire/ -- EDM Council, the leading global non-profit trade association for advocating data management and analytics, has today announced that Google Cloud's new solution architecture, which combines Google Cloud's BigQuery and Dataplex, has been independently assessed by KPMG and certified by EDM Council as a CDMC (Cloud Data Management Capabilities) Certified Cloud Solution. "This is an exciting milestone for Google Cloud and the CDMC framework," said John Bottega, President of EDM Council. "Google Cloud is advancing cloud adoption across all industries. Now as a CDMC Certified Cloud Solution, their clients can have the added certainty that Google Cloud's architecture has the key controls and accepted best practices in place to protect their data in the cloud." "Cloud migration is an important step that many enterprises are still in the process of taking," added Mark Tomlinson, Principal Architect at Google Cloud who led the project. "While companies want to accelerate their cloud adoption, there are data risks that some may find challenging. Both the new solution architecture and the CDMC Certification should provide peace of mind and support CDOs in this critical step for their businesses." According to the Google Cloud Brand Pulse Survey, carried out in the fourth quarter of 2022, over 40% of organizations are increasing their use of cloud-based services and products due to the current macroeconomic climate. However, as enterprises accelerate their adoption, their CDOs face a new challenge: how can they effectively secure, manage and govern rapidly expanding volumes of their most sensitive data in an unfamiliar environment? This new architecture incorporating the CDMC 14 key controls and automations can provide new and existing Google Cloud clients with the confidence to migrate their sensitive data to the cloud. The CDMC framework, developed and published by the EDM Council's CDMC Working Group, provides a comprehensive set of data management capabilities, standards and best practices for cloud implementations. Contributors to the framework included some of the largest enterprises in regulated industries, all major cloud service providers plus technology service organizations and major advisory firms. CDMC certification of cloud solutions is attained through a comprehensive review by a CDMC Authorized Partner. The CDMC 14 Key Controls and Automations for protecting sensitive data in the Cloud was published by the Working Group as a first deliverable on July 7, 2021 and is available as a free license to all industries via the EDM Council website. Learn More: For more detail about the Google Cloud CDMC solution architecture, read the whitepaper at https://cloud.google.com/docs/security/implement-cdmc-framework To access the solution, visit Google Cloud's CDMC GitHub repository at https://github.com/GoogleCloudPlatform/cdmc For more information about CDMC Framework, and a downloadable doc: https://edmcouncil.org/page/CDMC For more about the EDM Council: https://edmcouncil.org/ About EDM Council EDM Council is the global association created to elevate the practice of data management and analytics as a business and operational priority. The Council is the leading, global advocate for the development and implementation of data standards, best practices and comprehensive training and certification programs. With over 350 organizations from the Americas, EMEA and Asia, and over 25,000 data management professionals as members, EDM Council provides a venue for data professionals to interact, communicate, and collaborate on the challenges and advances in data management and analytics as critical organizational functions. For more, visit https://edmcouncil.org/.
SHENZHEN, China, June 26, 2023 /PRNewswire/ -- China-based Appotronics Corporation Limited ("Appotronics", 688007.SH) released its 2022 Environmental, Social and Governance (ESG) Report, highlighting its performance and achievements in terms of environment, society and governance. The report, covering multiple data and practical achievements in research and development "R&D" innovation, environmental protection and energy conservation, employee rights, social responsibility, and governance transparency, provides more information on the company's understanding and practice of ESG values. Appotronics has independently disclosed important measures in social responsibility and implementing sustainable development strategies for four consecutive years, recognized by various sectors of society. 2022 saw the company earn the Guizhou Province "Chunhui Action Contribution Award", the A-level rating by Wind ESG, and the Cailian Press Social Responsibility Pioneer Enterprise Award. R&D innovation boosts industry progress and practices sustainable development Li Yi, founder and chairman of Appotronics, noted in his open speech, "We deeply realize that only when we develop ourselves can we address multiple external uncertainties, that is, we must adhere to technological innovation and pursue sustainable and high-quality development." Appotronics is committed to ramping up technological innovation and industrial upgrading and introducing new technological trends and application scenarios to the industry. The company attaches great importance to the transformation of research and development achievements and the improvement of industrialization level to secure its leading position in technology and actively influence the entire industry. 2022 saw Appotronics develop automotive optical application, AR optical module, ALPD ®5.0, "zero" back focus technology, intelligent robot fusion, laser scanning point cloud and others, serving as high-performance and high-quality solutions for the market. The company has doubled down on R&D efforts, with an increased proportion of R&D personnel. In 2022, the R&D investment reached RMB 262 million, up 10.73% year-on-year (YOY) and number of R&D personnel reached 521, accounting for 31.83% of the total number of the employees. Appotronics not only focuses on talent team construction, but also improves intellectual property protection. As of December 31, 2022, Appotronics holds 1773 authorized patents around the globe, of which 966 are authorized patents for invention, resulting in a total of 2,629 patent applications plus authorized patents around the world, a solid ground for the company's innovation and technological accumulation. Appotronics takes original laser technology as its core, fully utilizing its healthy eye care and energy-saving features among others to continuously improve the product's performance and reliability. Among them is the ALPD ®5.0 laser display technology with energy efficiency in excess of 20lm/W, about 100% higher than other light sources. Meanwhile, technological innovation contributes to energy conservation and emission reduction, ALPD ®laser light source projection solutions having been widely applied in the domestic market. 27700 sets of ALPD ®laser projection solutions have been installed in China, running about 236 million hours in total, saving about 425 million kilowatt hours of electricity, and effectively reducing carbon dioxide emissions by about 186 million cubic meters. In addition to research and innovation, Appotronics also combines technology with culture to promote cultural inheritance and innovation. The company's engineering projector facilitated Xinjiang's first comprehensive immersive performance, "Wan Fang Yue Zou You Yu Tian", and cultural and tourism projects such as the Wuyuan Cultural and Tourism Town Realistic Show in Jiangxi. By combining new light and shadow technology with historical and cultural stories, it brought unprecedented sensory experiences and emotional resonance to the audience. People-oriented talent concept, employees and the company growing together Appotronics, adhering to the "people-oriented" principle, has formulated comprehensive human resource management standards. The company continuously improves the employee management system, safeguards employee rights and organizes activities such as "CEO face-to-face communication meetings" and "fresh graduate exchange meetings" in an effort to create a transparent, fair, and interactive corporate culture, and strengthen communication and exchange between employees and the company. At the same time, Appotronics attaches great importance to employee welfare benefits, providing competitive salaries and benefits, and encouraging employees to engage in diverse team building and club activities to strike a balance between work and life. A dual channel career development sequence was established to provide effective career development guidance and support for employees; and multiple talent cultivation systems set up to provide training plans and opportunities for employees at different levels. In 2022, the company's total employee training time reached 17673 hours, effectively improving the employee's professional literacy and capabilities. Reliable environmental management, disclosing TCFD climate information Appotronics takes sustainable development as its own responsibility, incorporating environmental benefits and environmental management into the entire process of enterprise operation and management. It has always adhered to the concept of low-carbon production and energy conservation and carbon reduction, and continues to promote green operation and production in environmental management to achieve coordinated development of the economy, society, and environment. The company continuously optimizes production processes and adopts advanced energy-saving technologies to minimize the impact on the environment. It has been awarded the "Green Leading Enterprise" by the CEC and China Certification Center for Energy Conservation Product ("CECP") certification. Notably, Appotronics provided a detailed disclosure of the impact of climate change on the company's operations in the ESG report of 2022, having identified climate change risks and opportunities and taken effective response measures referring to the initiatives of the Task Force on Climate-Related Financial Disclosure ("TCFD"). Influential social welfare, actively assuming social responsibility A corporate citizen, Appotronics focuses on fulfilling social responsibilities, promoting the development of public welfare undertakings, and actively participates in assisting rural revitalization, technology popularization, and social welfare activities. Upon the information of marketing difficulties of agricultural products in Gantang Town and Huaxi Township of Qianxi, Guizhou Province, Appotronics initiated the "2022 Mid-Autumn Festival Public Welfare and Agricultural Aid Action" project to help poor areas solve the problem of agricultural product marketing by purchasing instead of direct assistance. The company earned "Chunhui Action Contribution Award" in 2022 for its actions to revitalize talents and assist agriculture in Guizhou, where its high-definition giant screens helped Qianxi create a youth maker space to promote talent revitalization. Appotronics, a "Nanshan District Science Popularization Base", received a total of 6 children's science popularization public welfare visit projects, with approximately 100 children visitors in 2022. In collaboration with the CASCI, Appotronics launched a series of activities called "Radiance Plan", where it provided intelligent screens to impoverished rural areas in Guangxi alongside popularizing aerospace knowledge. In a bid to fight the COVID-19 pandemic, the company donated RMB 1.2597 million worth laser projectors to the Shenzhen Health Commission through the Red Cross Society of China Shenzhen Branch, for the purpose of family education for the children of anti-pandemic medical workers. Li Yi stated that ESG practices have been gradually integrated into all aspects of Appotronics's work, and moving forward the company will be committed to using laser core technology to create a better life experience for people and create better long-term value for stakeholders.
CHENGDU, China, June 26, 2023 /PRNewswire/ -- HitGen Inc. ("HitGen", SSE: 688222.SH) has recently launched a newly upgraded version of its OpenDEL™ product, a self-service screening kit for novel molecules. It contains 65% more DEL libraries than the previous version, and with over 3 billion compounds. The 2-cycle and 3-cycle libraries in the kit are designed with excellent drug-like properties. The upgraded OpenDEL™ provides more diverse options with more flexible packages and service models to meet more differentiated user needs. OpenDEL™ is a self-service DNA-encoded library (DEL) kit, which enables users to explore DEL selection campaigns without revealing the target identity. Under the guidance of the manual and operating instructions, users can utilize OpenDEL™ to conduct affinity screening experiments against protein targets in their own laboratories. HitGen can provide upstream and downstream technical support. OpenDEL™ is a fully-open, transparent, small molecule screening kit, featuring complete disclosure of information for molecular structures, building blocks, scaffolds and compound encoding sequences. The users do not need to pay structure disclosure fees, nor compound IP license fees. OpenDEL™ can be widely applied in multiple areas, including drug discovery and AI-ML research. In the drug discovery scenarios, the complete information disclosure of OpenDEL™ can enable efficient and convenient discovery of novel hits and lead compounds. In the AI-ML scenarios, OpenDEL™ can provide a large number of high-quality screening data to facilitate the AI/ML predictive model building, algorithm development and validation, as well as other frontier explorations, thus promoting the AI-driven drug development. Since its release, OpenDEL™ has been widely used and highly recognized by many users from more than 10 countries, including biopharmaceutical companies, AI technology companies, academic institutions and colleges. About HitGen Inc. HitGen Inc. (SSE: 688222.SH), is a drug discovery research company with headquarters in Chengdu, China, and subsidiaries in Cambridge, UK and Houston, USA. HitGen has established leading technology platforms to enable the discovery and optimization of small molecules and nucleic acid drugs. Our key technology platforms include world-leading DNA-encoded library technology (DEL), fragment-based drug discovery and structure-based drug design technologies (FBDD/SBDD), as well as the emerging technology platforms for synthetic therapeutic oligonucleotide technology (STO), and targeted protein degradation technology (TPD). Through our diverse and flexible business models, we have built up collaboration partnership with several hundred biopharmaceutical research organizations worldwide. HitGen has multiple programmes from early discovery to clinical trial stage. For more information, please call +86-28-85197385, +1-508-840-9646 or visit www.hitgen.com. For media inquiries: media@hitgen.com For investor inquiries: investors@hitgen.com For business development: bd@hitgen.com
Collaborate to offer advanced Communication Platform as a Service (CPaaS) for enterprises to deliver contextual and personalized customer experience by integrating all communication channels DUBAI, UAE, June 26, 2023 /PRNewswire/ -- Comviva, the global leader in customer experience and data monetization solutions, today announced the expansion of its strategic partnership with e& enterprise to offer an advanced omnichannel CPaaS platform for enterprises. Miguel Villalonga, CEO e& enterprise Cloud e& enterprise, is a specialized business vertical within e& focused on providing advanced digital solutions to transform the way companies conduct business. e& enterprise enables organizations across multiple sectors to maximize their digital potential. Through Cloud, Cybersecurity, Internet of Things (IoT) and Artificial Intelligence (AI), e& enterprise is propelling organizations and economies towards a smarter, safer and more sustainable world. Comviva and e& enterprise partnership will develop an advanced (CPaaS) ecosystem leveraging Comviva's next-gen CPaaS platform and e&'s market reach. It will enable real-time communication capabilities, helping enterprises enhance and personalize their end-user customer experience seamlessly across multiple channels. Enterprises across industries can self-onboard, create customized applications and experiences for their end customers. With a cloud-based delivery model, Comviva CPaaS Platform seamlessly integrates with business applications and enables secured real-time customer interactions serving all customer engagement use cases from marketing to operations to customer service. Speaking on the partnership, Miguel Villalonga, CEO, e& enterprise Cloud, said: "e& enterprise has always been at the forefront of ushering in innovative digital solutions. The opportunity to partner with Comviva is another step forward in our journey to create an open, collaborative CPaaS ecosystem that will help enterprises deliver seamless, personalized experiences for their customers. We are excited to offer engageX, our CPaaS solution to enterprises, and help them craft a customer journey that is engaging and effective." Manoranjan Mohapatra, CEO at Comviva, said: "We are thrilled to partner with e& enterprise to help them transform the enterprise customer experience journey. This partnership shall enable a new era of enterprise customer experiences built on simplicity, rich customer experience and personalization. With the new CPaaS platform e& enterprise is well positioned to create new possibilities for enterprises." Comviva's CPaaS Platform is a full-stack platform to empower Telecom service providers to drive real-time customer interactions for enterprises. The platform supports messaging services and chats powered with conversational AI capabilities across the industry verticals. Its cognitive automation and Natural Language Processing (NLP) capabilities empower enterprises to deliver enriched customer experience by automating user interactions in a human-like language. It is one of the most scalable platforms in the industry handling over 80+ billion messages in a year. Manoranjan Mohapatra, CEO at Comviva
SINGAPORE, June 20, 2023 /PRNewswire/ -- Regional NGO Enterprise Asia proudly announces SB Tape Group Sdn Bhd (SB Group) as the outstanding winner of the Corporate Excellence and Inspirational Brand Awards and the Group's Managing Director Toh Chee Hui as a Master Entrepreneur at the Asia Pacific Enterprise Awards (APEA) 2023 Malaysia. Organized annually across 16 countries and markets, the APEA is the most reputable award recognition program recognizing entrepreneurial excellence across Asia. SB Group and Toh Chee Hui emerged as victors from over 150 nominees through a rigorous evaluation process at this year's Awards. With over 30 years of experience in the adhesive and pressure-sensitive adhesive tapes industry, SB Group's Managing Director Toh Chee Hui has played a pivotal role in the Group's manufacturing operations. He has guided SB Group to accomplish feats that set them apart from its global competitors and even led the company to achieve breakthroughs in the field of adhesive tapes that were unimaginable in the past, such as setting a new world speed record of 450 meters per minute for the operation of an Adhesive Coating Machine. Today, SB Group is ranked as Asia's leading manufacturer of adhesive tapes. With Kuala Lumpur, Malaysia as its headquarters, the company also has manufacturing facilities and established offices in Indonesia and Vietnam, with a total workforce of more than 500 staff across the three countries. SB Group has come a long way since its humble beginnings in 1977 by achieving a remarkable milestone in 2022 by recording its highest turnover performance in history, surpassing RM 500 million. According to a market study, SB Group dominates more than 50% of the market share in Malaysia while supplying 5% of the world's polypropylene tape demand. SB Group differentiates itself from its competitors in its commitment to its core values: Environment First, People-Centric, Integrity, and Dynamic. SB Group believes that success is not just about profits but also about making a positive impact on the world. The Group uses non-hazardous formulations in its adhesives and continuously improves its green manufacturing practices. SB Group's innovative products have helped billions of users worldwide every day with their packaging challenges, including highly-recycled boxes, and winter and automation packing among others. In order to achieve sustainable growth and to ensure the company can adapt to the ever-changing environment, SB Group has implemented programs to identify and groom local graduates to fit into corporate settings and real working conditions. SB Group's SEED Program enabled the company to recruit 18 Bachelor of Chemical Engineering graduates from the University of Malaysia Pahang, to embark on their careers with SB Group. The program was a success as it was able to nurture 3 candidates to management-level positions such as an Assistant Operations Manager, Senior Project Engineers, and a Senior Planner Executive. Furthermore, SB Group has set its sights on becoming a world-class tape manufacturer by pursuing brand excellence with the help of advanced technology. It has identified four key areas to focus on: Green Practices, Product Excellence, Manufacturing Excellence, and Customer Experience Excellence. By focusing on these key areas, SB Group maintains a human touch in its customer service while being tech-driven. The collective effort is believed to land the company in greater market share and create a deeper brand impression in the near future. About Enterprise Asia Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are an investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs, and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia, and in ensuring a legacy of hope, innovation, and courage for the future generation. Please visit www.enterpriseasia.org for more information. About Asia Pacific Enterprise Awards Launched in 2007, the Asia Pacific Enterprise Awards is the region's most prestigious award for outstanding entrepreneurship, continuous innovation, and sustainable leadership. The Award provides a platform for companies and governments to recognize entrepreneurial excellence, hence spurring greater innovation, fair business practices, and growth in entrepreneurship. As a regional award, it groups together leading entrepreneurs as a powerful voice for entrepreneurship and serves as a by-invitation-only networking powerhouse. The program has grown to encompass 16 countries/ regions and markets all over Asia. For further information, please visit www.apea.asia.
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