CUPERTINO, Calif., Nov. 29, 2023 /PRNewswire/ — Ambow Education Holding Ltd. ("Ambow" or the "Company") (NYSE American: AMBO), a technology-driven educational company with primary operations in the United States, today announced its unaudited financial and operating results for the three-month and six-month periods ended June 30, 2023.

"We are at the forefront of emerging trends in education, indicating a shift towards an integrated, AI-driven hybrid model encompassing both education and workforce training," said Dr. Jin Huang, President, Chief Executive Officer, and acting Chief Financial Officer of Ambow. "Over the last six months, we have closed underperforming business units and redirected our focus toward the development and deployment of our HybriU AI solution. As a result, in the first half of 2023, we witnessed a substantial improvement in profit margins, successfully narrowing our operating loss by an impressive 50%. Since its official launch in July, the HybriU AI digital education solution has been successfully deployed in classrooms throughout NewSchool Architecture & Design in San Diego, Calif., facilitating a seamless, cutting-edge AI hybrid learning model. Looking ahead, we are actively expanding our HybriU initiatives with partnerships in various institutions, leading colleges, universities, and corporations to drive the next stage of Ambow’s growth. We are optimistic about our prospects for the next year. Our turnaround efforts are yielding results as the HybriU AI solution continues to gain traction, and we expect to achieve operating profitability in 2024."

Second Quarter 2023 Financial Highlights

Net revenues for the second quarter of 2023 decreased by 46.0% to $2.7 million from $5.0 million for the same period of 2022. The decrease was primarily due to the permanent closure of Bay State College at the end of the 2022-2023 academic year. Gross profit for the second quarter of 2023 decreased by 20.0% to $1.2 million from $1.5 million for the same period of 2022. Gross profit margin was 44.4%, compared with 30.0% for the second quarter of 2022. Operating expenses for the second quarter of 2023 decreased by 47.4% to $2.0 million from $3.8 million for the same period of 2022. The decrease was primarily due to the Company’s issuance of 5.2 million shares of fully vested restricted stock units to senior management and key employees as compensation during the second quarter of 2022, and stringent expense controls to improve operating efficiency. Operating loss for the second quarter of 2023 was $0.8 million, compared to an operating loss of $2.3 million for the same period of 2022. Net loss attributable to ordinary shareholders from continuing operations for the second quarter of 2023 was $1.0 million, or $0.02 per basic and diluted share, compared with a net loss from continuing operations of $2.5 million, or $0.05 per basic and diluted share, for the same period of 2022. As of June 30, 2023, Ambow maintained strong cash resources of $12.4 million, comprising cash and cash equivalents of $6.9 million and restricted cash of $5.5 million.

First Six Months 2023 Financial Highlights

Net revenues for the first six months of 2023 decreased by 37.1% to $6.1 million from $9.7 million for the same period of 2022. The decrease was primarily due to the permanent closure of Bay State College at the end of the 2022-2023 academic year. Gross profit for the first six months of 2023 decreased by 16.7% to $2.0 million from $2.4 million for the same period of 2022. Gross profit margin was 32.8%, compared with 24.7% for the same period of 2022. Operating expenses for the first six months of 2023 decreased by 40.0% to $3.9 million from $6.5 million for the same period of 2022. The decrease was primarily due to the Company’s issuance of 5.2 million shares of fully vested restricted stock units to senior management and key employees as compensation during the three months ended June 30, 2022, and stringent expense controls to improve operating efficiency. Also, the permanent closure of Bay State College at the end of the 2022-2023 academic year has led to lower expenses. Operating loss for the first six months of 2023 was $1.9 million, compared to an operating loss of $4.1 million for the same period of 2022. Net loss attributable to ordinary shareholders from continuing operations for the first six months of 2023 was $2.2 million, or $0.04 per basic and diluted share, compared with a net loss from continuing operations of $4.4 million, or $0.10 per basic and diluted share, for the same period of 2022.

The Company’s financial and operating results for the second quarter and first half of 2023 can also be found on its Report of Foreign Private Issuer on Form 6–K, to be furnished with the U.S. Securities and Exchange Commission at www.sec.gov.

Exchange Rate Information

Historically, Ambow presented its financial results in Renminbi. Starting on January 1, 2023, Ambow changed its reporting currency from Renminbi to U.S. dollars, as the majority of Ambow’s revenues and expenses are now denominated in U.S. dollars. Ambow believes the alignment of the reporting currency with its underlying operations better illustrates its operational results for each period. Ambow has applied the change of reporting currency retrospectively to its historical results of operations and financial statements included in this press release.

Bay State College Closure

On January 19, 2023, the New England Commission of Higher Education ("NECHE") informed Bay State College ("BSC") of its intention to withdraw BSC’s accreditation as of August 31, 2023. Following the rejection of Ambow’s appeal, on April 11, 2023, the Board of Trustees voted to permanently close Bay State College at the end of the 2022-2023 academic year. Accordingly, this permanent closer has been completed. The College provided academic support and transitional services to students through August 31, 2023, and signed agreements with several area universities to provide program completion pathways to Bay State students, often with enhanced transfer and other opportunities.

Subsequent Events

Ambow received a continued listing deficiency notice (the "Notice") from the NYSE American LLC (the "NYSE American") dated September 21, 2023, stating that the Company’s securities had been selling for a low price per share for a substantial period of time and the Company is not in compliance with the continued listing standards as set forth in Section 1003(f)(v) of the NYSE American Company Guide ("Company Guide"). NYSE American staff determined that Ambow’s continued listing is predicated on it effecting a reverse stock split of its common stock or otherwise demonstrating sustained price improvement no later than March 21, 2024. The Company intends to complete a reverse stock split in order to regain compliance with the NYSE American’s continued listing standards set forth in the Company Guide in a timely manner.

About Ambow

Ambow Education Holding Ltd. is an AI technology-driven educational company with primary operations in the United States. Through the operation of its for-profit colleges and dynamic patented open platform technology, Ambow offers high-quality, individualized, and dynamic career education services and products. For more information, visit Ambow’s website at https://www.ambow.com/.

Follow us on Twitter:@Ambow_Education

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Ambow and the industry. All information provided in this press release is as of the date hereof, and Ambow undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Ambow believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

For more information, please contact:

Ambow Education Holding Ltd.
E-mail: [email protected]

or

Piacente Financial Communications
Tel: +1–212–481–2050
E-mail: [email protected]

AMBOW EDUCATION HOLDING LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share and per share data)

As of December 31,

As of June 30,

2022

2023

$

$

Unaudited

ASSETS

Current assets:

Cash and cash equivalents

3,276

6,913

Restricted cash

4,320

5,490

Accounts receivable, net

1,958

3,690

Prepaid and other current assets

6,119

4,230

Total current assets

15,673

20,323

Non-current assets:

Property and equipment, net

274

19

Intangible assets, net

532

527

Operating lease right-of-use asset

6,842

5,946

Other non-current assets

1,951

1,944

Total non-current assets

9,599

8,436

Total assets

25,272

28,759

LIABILITIES

Current liabilities:

Short-term borrowings

3,000

5,439

Accounts payable

2,409

1,957

Accrued and other liabilities

3,702

6,080

Income taxes payable

523

510

Operating lease liability, current

2,197

2,451

Total current liabilities

11,831

16,437

Non-current liabilities:

Operating lease liability, non-current

5,688

4,900

Total non-current liabilities

5,688

4,900

Total liabilities

17,519

21,337

EQUITY

Preferred shares

($0.003 par value;1,666,667 shares authorized, nil issued and outstanding as of December
31, 2022 and June 30, 2023)

—

—

Class A Ordinary shares

($0.003 par value; 66,666,667 and 66,666,667 shares authorized, 47,419,109 and
52,419,109 shares issued and outstanding as of December 31, 2022 and June 30, 2023,
respectively)

131

146

Class C Ordinary shares

($0.003 par value; 8,333,333 and 8,333,333 shares authorized, 4,708,415 and 4,708,415
shares issued and outstanding as of December 31, 2022 and June 30, 2023, respectively)

13

13

Additional paid-in capital

515,182

517,031

Accumulated deficit

(507,573)

(509,768)

Accumulated other comprehensive income

—

—

Total equity

7,753

7,422

Total liabilities and equity

25,272

28,759

AMBOW EDUCATION HOLDING LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(All amounts in thousands, except for share and per share data)

For the six months ended 

For the three months ended 

June 30,

June 30,

2022

2023

2022

2023

$

$

$

$

NET REVENUES

Educational programs and services

9,724

6,097

4,955

2,728

COST OF REVENUES

Educational programs and services

(7,364)

(4,082)

(3,449)

(1,508)

GROSS PROFIT

2,360

2,015

1,506

1,220

Operating expenses:

Selling and marketing

(1,170)

(425)

(486)

(148)

General and administrative

(5,288)

(3,449)

(3,273)

(1,829)

Total operating expenses

(6,458)

(3,874)

(3,759)

(1,977)

OPERATING LOSS

(4,098)

(1,859)

(2,253)

(757)

OTHER EXPENSES

Interest expense, net

(72)

(33)

(33)

(26)

Foreign exchange loss, net

—

(9)

—

(9)

Other expense, net

(134)

(281)

(87)

(196)

Loss on disposal of subsidiaries

(173)

—

(173)

—

Total other expense

(379)

(323)

(293)

(231)

LOSS BEFORE INCOME TAX AND NON-CONTROLLING
INTEREST

(4,477)

(2,182)

(2,546)

(988)

Income tax benefit (expense)

34

(13)

34

(13)

LOSS FROM CONTINUING OPERATIONS

(4,443)

(2,195)

(2,512)

(1,001)

Loss from discontinued operations, net of income tax

(9,467)

—

(8,642)

—

NET LOSS

(13,910)

(2,195)

(11,154)

(1,001)

-Less: Net loss attributable to non-controlling interests from
continuing operations

—

—

—

—

-Less: Net loss attributable to non-controlling interests from
discontinued operations

(180)

—

(134)

—

NET LOSS ATTRIBUTABLE TO ORDINARY SHAREHOLDERS
FROM CONTINUING OPERATIONS

(4,443)

(2,195)

(2,512)

(1,001)

NET LOSS ATTRIBUTABLE TO ORDINARY SHAREHOLDERS
FROM DISCONTINUED OPERATIONS

(9,287)

—

(8,508)

—

NET LOSS ATTRIBUTABLE TO ORDINARY SHAREHOLDERS

(13,730)

(2,195)

(11,020)

(1,001)

OTHER COMPREHENSIVE LOSS, NET OF TAX

Foreign currency translation adjustments

(166)

—

(90)

—

Other comprehensive loss

(166)

—

(90)

—

TOTAL COMPREHENSIVE LOSS

(14,076)

(2,195)

(11,244)

(1,001)

Net loss from continuing operations per share – basic and diluted

(0.10)

(0.04)

(0.05)

(0.02)

Net loss from discontinued operations per share – basic and diluted

(0.20)

—

(0.18)

—

Weighted average shares used in calculating basic and diluted net loss per share

46,756,368

55,525,314

46,825,968

57,127,524

Source : Ambow Education Announces Second Quarter and First Half of 2023 Financial Results

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

Ray Dalio took the stage at Asset Abu Dhabi and praised the Falcon Economies of the GCC region as ‘Renaissance States’. Ahead of COP28, during the special session of ‘The rise of the falcon economy’, notable economic leaders like Dr. Nasser Saidi called for the establishment of a ‘climate bank’. Fadi Ghandour, Executive Chairman of Wamda Capital emphasised increasing regional capital deployment by SWFs into major infrastructure and tech projects

ABU DHABI, United Arab Emirates, Nov. 29, 2023 /PRNewswire/ — Abu Dhabi Finance Week (ADFW) presented by Abu Dhabi Global Market (ADGM) progressed into its next key conference today, conducting the 2023 edition of Asset Abu Dhabi. The event hosted a selective group of investment market leadership, who gathered at ADFW to analyse the evolving investment strategies of hedge funds, private equity houses, venture capital giants and family offices across the global markets, explore returns from evolving asset classes and investment frontiers, responses to inflationary pressures, and observe on the future and prospects of regional and global economies amid the current transition era.

Asset Abu Dhabi 2023 organised with theme partners, Mubadala and BTG Pactual, showcased a line-up of some of the strongest global private market leaders, hosting thousands of senior investors from 100+ countries, from the investment and financial industry who collectively manage more than USD 30 trillion of assets. The list of top financial investment institutions that attended the conference included top names such as Morgan Stanley, BNY Mellon, Goldman Sachs, Brevan Howard and Franklin Templeton amongst others.

Asset Abu Dhabi started with a special opening session led by Ruchir Sharma, the Chairman of Rockefeller International, who presented his analysis of key political, economic, technological and social signals that shape a nation’s future. Diving into the principle of wealth management, Jenny Johnson the President and CEO of Franklin Templeton spoke insightfully on the utility of technology to rising asset classes, sustainable investing, and interpreting changing global markets.

The rise of the Falcon Economy remains a major focus of Asset Abu Dhabi and ADFW to explore the drivers of the ongoing growth of the UAE and other regional economies and shed light on government plans, policies and efforts to realize long-term economic visions.

Other key sessions included a unique conversation on ‘The Keys to Managing Money & Risk’ between George Osborne the former UK Chancellor and Alan Howard the founder of Brevan Howard, and a special roundtable focused on ‘Forecast to 2030’ with the Chairman of Hong Kong Exchanges & Clearing and C-suites of Goldman Sachs, Circle and Tikehau Capital.

Salem Mohammed Al Darei, CEO of ADGM Authority said, "With ADGM as a home to a global collection of asset managers, Abu Dhabi Finance Week continues to be a pivotal platform for them through Asset Abu Dhabi to share insights and chart the course for the ever-evolving world of investment. The 2023 edition of Asset Abu Dhabi not only offers a unique opportunity to analyse the rapidly shifting investment landscape but also showcases the next era of digital assets and provides invaluable guidance on the prospects of regional and global economies within the transition era. With a stellar lineup of global private market leaders and senior investors representing a staggering USD 30 trillion in assets under management, Asset Abu Dhabi exemplifies ADGM’s commitment to fostering collaboration and innovation in the financial industry."

Abu Dhabi has become a destination of choice for global asset and fund management entities as the numbers have been growing drastically in the past few years while ADGM is also experiencing remarkable growth in the asset management sector reflecting 52% growth in Q3, compared to the same period last year.

The conference hosted two other events.  The International Family Office Congress 2023 was organised in partnership with the Abu Dhabi Chamber, Abu Dhabi IPO Fund and Emirates Family Office Association, in addition to the Turnaround, Restructuring & Insolvency (T.R.I.) Forum 2023.

Source : Abu Dhabi's Rapidly Changing Investment Landscape Debated at the Second Edition of "Asset Abu Dhabi" Hosted at ADFW 2023

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

Collaboration focused on discovering oral inhibitors of protein-protein interaction (PPI) targets by leveraging PRISM BioLab’s proprietary PepMetics® technology. PRISM BioLab receives upfront payments and up to $660 million in total milestones, plus royalties on net sales.

TOKYO, Nov. 29, 2023 /PRNewswire/ — PRISM BioLab, Co. Ltd. ("PRISM"), a leading discovery and development biotechnology company designing small molecule inhibitors of protein-protein interaction (PPI) targets, today announced that it has entered into a License and Collaboration Agreement with Eli Lilly and Company ("Lilly").

Under the agreement, PRISM and Lilly will collaborate to discover small molecule inhibitors of a PPI target selected by Lilly utilizing PRISM’s proprietary PepMetics® technology. Lilly has the option to add up to two more targets to the collaboration and is responsible for the clinical development and commercialization of resulting products. PRISM will receive upfront payments and is eligible to receive up to $660 million in pre-clinical, clinical and commercial development milestones payments, as well as royalties on product sales.

"We are very excited to enter into this collaboration with Lilly as we apply our technology to expand the field of drug discovery into a novel approach to drug the PPI targets," said Dai Takehara, President and Chief Executive Officer of PRISM Biolab. "Our PepMetics® technology holds promise to change the current paradigm in drug discovery by turning previously undruggable PPIs into targets readily druggable with small molecules. This collaboration with Lilly, an innovative global pharma company, could help us realize this vision and expand the field of druggable targets for the benefit of patients."

About PRISM BioLab

PRISM BioLab is a discovery and development biotechnology company utilizing proprietary PepMetics® technology to discover orally available small molecule inhibitors of protein-protein interaction (PPI) targets and transform lives of patients suffering from cancer, autoimmune, fibrosis and other diseases. PepMetics® are a unique class of small molecules that mimic three-dimensional structures of alpha-helix and beta-turn, the peptide structures commonly found in intracellular PPI interphases and receptor-ligand interactions. By combining proprietary chemistry, know-how around PPI targets and AI-supported design, PepMetics® technology can deliver inhibitors of challenging PPI targets. The technology holds promise to expand the field of drug discovery by turning previously undruggable PPIs into targets readily druggable with small molecules and by generating oral small molecule alternatives for injectable biologics.

PRISM BioLab is collaborating on new PPI targets with global and Japanese pharmaceutical companies. PepMetics® targeting CBP/beta-catenin PPIs licensed to Eisai and Ohara Pharmaceuticals are in clinical development for cancer and liver disease, respectively.

www.prismbiolab.com

Media Contact: Yuka Shimashita, y.shimashita@prismbiolab.jp

Source : PRISM BioLab and Lilly Enter into a Drug Discovery Collaboration on a Protein-Protein Interaction Target

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

FRANKFURT, Germany, Nov. 28, 2023 /PRNewswire/ — Angel Yeast, (SH600298), the world’s leading yeast manufacturer, is highlighting its food solutions for the future to Fi Europe & Hi 2023, the premium exhibition in the food and health ingredients sector which is being held from November 28 to 30 at the Messe Frankfurt in Germany.

Fi Europe & Hi 2023 is a leading professional platform for prominent industry players and innovators in the European market, and more than 21,000 guests from 135 countries are participating in the event.

Angel Yeast is exhibiting at booth 4.0G121 under the theme of "Taste Future." Angel Yeast is committed to developing tastier, healthier, and more sustainable solutions for the global food and beverage industry.

"Angel Yeast is excited to participate in Fi Europe 38 Hi 2023 and showcase our latest technologies, products, and solutions," said Eric Ao, General Manager of Angel Yeast Europe. "We are committed to sustainable development and will continue to bring innovative products to global consumers. We aim to meet manufacturers’ flavor customization needs. We have introduced a new range of yeast-based product series called Taste Solutions, including AngeoPrime, Angeoboost, Angeotide, AngeoPro, Angearom, and Angeocell, to help clients fully understand the product features and make the correct selections," Ao added.

Designing the taste solutions for the future

Consumers today are growing more aware of embracing a healthy lifestyle and supporting a sustainable future, this trend has propelled the rapid growth of the vegan food market, and sustainable protein solution in dairy beverage and vegan food is the key.

"Yeast protein has emerged as the ideal choice to replace whey proteins, animal proteins, and plant proteins. Angel Yeast’s yeast extract (YE) and yeast protein are sustainable, natural, and vegan food flavoring ingredients widely applied in the different sectors of the food industry to season and guarantee food flavor stability," said  Ao.

At Fi Europe & Hi 2023, Angel Yeast is highlighting AngeoPro, a 100% naturally fermented yeast protein with all nine essential amino acids and 80% protein content. Not only is it GMO-free, but it is also free from allergens and gluten, making it suitable for a wide range of dietary needs. This versatile ingredient is commonly used to enhance the flavor and nutritional profile of vegan cheese, ice cream, dairy products, protein drinks, protein bars, cheese-flavored crackers, whole wheat bread, and vegan meat.

Another standout product from Angel Yeast is Angeoboost, a YE with a strong umami flavor profile, compared to other flavorings it contributes to salt reduction without compromising the great taste. It’s rich in natural nucleotides and intensifies the overall flavor of food products, a perfect clean-label ingredient and natural substitute for MSG.

Angeotide, a peptide yeast extract, offers a delightful and enduring sensory experience by infusing richness and depth into food. Abundant in ribonucleic acid and flavor peptides, it effectively harmonizes and enhances the fundamental tastes of various dishes.

Healthier Lifestyle: Baking Solutions and Sports Nutrition

Angel Yeast is also presenting high-protein whole wheat bread using AngeoPro that elevates flavors, improves the nutritious qualities, and provides healthier options that mutually benefit both the bakeries and consumers. Besides, more baking solutions are being showcased at the event, including chilled dough, and frozen dough solutions.

The yeast protein bar is specifically developed for fitness enthusiasts, athletes, vegetarians/vegans, and individuals with inadequate protein intake. Additionally, with its mild flavors that appeal to a wider audience, this high-protein product crucially aids in muscle repair, enhances muscle strength, and facilitates muscle recovery.

Another highly coveted material exhibited at the show is Polyhydroxyalkanoate (PHA), which finds extensive application in biodegradable food packaging. Notably, PHA is both marine degradable and biocompatible.

Angel Yeast, with over 30 years of experience, has become a trusted partner for yeast extract. The company operates multiple plants in China and an overseas factory in Egypt, guaranteeing a reliable supply for our partners worldwide. Furthermore, Angel Yeast is committed to sustainable development and looks forward to future collaborations as a trustworthy partner.

Source : Angel Yeast Brings Sustainable Food Solutions for the Future to FI Europe & Hi 2023

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

Explore Beyond Your Limits with Powerplus Capability

World’s First Portable Expandable Power Station with Unique Accessories

NEW YORK, Nov. 28, 2023 /PRNewswire/ — Explore Beyond Your Limits. That’s the slogan behind ROMOSS X1000, a brand dedicated to delivering outstanding and free charging experiences globally while ensuring the highest quality standards in the industry. With the increasing demand for reliable portable power stations in various charging applications, the new ROMOSS X1000 is designed to provide a variable and reliable power source for all scenarios such as off-grid life, emergency/backup, and outdoor explorations. With the ability to boost both power and capacity freely, the X1000 can provide a fresh and unprecedented charging choice for users.

ROMOSS X1000 Portable Power Station

For Emergencies

With today’s power becoming more and more unreliable and expensive as a result of power outages, natural disasters, and other unforeseen events, it’s necessary to have a stable and economic backup system in place. With the right system, people can keep their necessities available, from a refrigerator or freezer to a fan and climate controls. The ROMOSS X1000 is an excellent choice for those who want to be prepared for emergencies. Its large capacity, long battery life, UPS uninterrupted power supply, and DIY customizable power supply design make it a trustworthy companion to have on hand during power outages. Users will never be left in the dark with its [Powerplus] capacity.

For Outdoor Activities

Meanwhile, the increasing popularity of outdoor recreation has led to a growing demand for high-capacity portable power stations with fast charge, and that’s why ROMOSS is going to offer this new type of portable power station with expandable functions to meet the [Powerplus] needs. Outdoor recreation has become increasingly popular globally. The pandemic played a significant role in this increase, as outdoor spaces became a refuge for people to safely socialize, improve physical and mental health, connect with family, and recover from screen fatigue.

With a capacity of up to 16kWh and a fast charge of 80% in 1 hour, the X1000 is useful for outdoor activities such as camping, hiking, and fishing. With robust hardware and compact design, it can provide a safe source of electricity for devices when people are away from home while offering a sense of portability. It is also environmentally friendly as it does not emit harmful fumes or noise like fuel-run generators compared to traditional gas generators. Designed as the world’s first portable expandable power station with unique accessories, X1000 provides a wide range of power voltages and multi-functional spaces for more creative outdoor explorations such as outdoor filming, busking, and live shows. In a word, more power and broader compatibility come with the [free plus] lifestyle.

[ROMOSS’s Mission]

ROMOSS adheres to the brand vision of "Charging for a better life" during the past decade. This time, ROMOSS is dedicated to a bigger mission to offer the power that can help customers enjoy life in the dark, explore beyond the limits, and embrace all life possibilities despite all the odds. Charge A New Future.

[ROMOSS New Launch – Powerplus portable power station]

The market for portable power stations and power solutions is constantly growing, offering an abundance of options in various versions, packages, and capacities. But when it comes to finding a reliable all-in-one solution for homes that can be used during emergencies and real-world scenarios, only a few products meet the criteria. The ROMOSS X1000 is one of these products, providing a sustainable and flexible [Powerplus] solution that users can count on.

The modular design allows users to manage 4 units of X1000 and 12 units of extra batteries freely to obtain as high as 4000W power and 16kWh total capacity, which sets the users free from the anxiety between capacity and portability. Besides, the X1000 is an all-around device with a built-in magnet system, which allows them to easily attach a few magnetic accessories, such as a selfie stick light, projector holder, trolley, and fan. The compatibility significantly improves convenience and functionality. With the plus power and accessories, buyers can achieve a colorful lifestyle with more freedom.

[Where to Buy]

If you’re looking for a power supply system that offers flexibility, reliability, and durability, you might want to check out ROMOSS X1000. The ROMOSS X1000 portable power station is coming soon on Kickstarter, where you can get early bird discounts and exclusive rewards. Don’t miss this opportunity to get your hands on this fantastic device that can change your charging life. Sign up now on the website or follow us on social media to get notified when the campaign goes live. Be one of the first backers of the ROMOSS X1000 and join the exploration revolution.

https://www.romoss.com/ROMOSSX1000

About X1000：

ROMOSS X1000「Powerplus」Portable Power Station (Will be available on Kickstarter in November)

Product Name

ROMOSS X1000 1008Wh 1000W Portable Power Station

Features

Expandable Up to 16kWh via PowerPlus Tech Power Surge at 4000W with 4 X1000s via R-Rise Tech 1h to 80% Fast Charging via HyperCharge Tech 10ms Auto Switch via R-UPS Tech Modular Design, Customizable Power Solution for 99% Appliances Rated Power 1000W, Peak Power 2000W with R-Max Tech Simultaneously Charges Up to 10 Devices LiFePO₄ Car-Grade Battery, 10-Year Lifespan 3000 Cycles Compatible with Various Magnetic Accessories Advanced BMS (* Battery Management System) Auto ECO Mode Faster Cooling in 20 mins

Price

$999

Specs

Product Name

ROMOSS RX1000 1008Wh 1000W Portable Power Station

Battery Type

LiFePO₄

Material

ABS + PC (V0 fire-retardant grade)

Capacity

1008Wh (22.4V 45Ah)

≈ 315000mAh (3.2V)

Parallel Capacity
(with Extra Battery)

max. 16kWh

Power

Rated

1000W

Peak

2000W

Combined

Max. 4000W

LCD Display

battery level, R-MAX constant power mode, ECO mode, remaining charging
time, current input power, AC/DC input status, high-temperature warning,
current temperature status, R-RISE parallel mode, Bluetooth connection status
(reserved), Wi-Fi connection status (reserved), fan running status, remaining
usage time, current output power, USB output status, AC/DC output status, low
voltage warning

LED Light

1 * 2W

Flashlight (SOS)

1 * 2W

Input

AC Input (220–240V~50Hz 5A MAX)

wall charging port/220V/600W

DC Input (Anderson/12–60V/400W MAX)

solar charging port/12–60V/400W

car charging port/12V/100W

Output

2 * AC outlet: each 1000W (max. 2000W)

3 * DC outlet: 1 * car socket + 2 * DC5525, max. 120W

2 * USB-A (QC3.0): 5V/3.4A, 9V/2A, 12V/1.5A, max. 18W

2 * Type-C (PD3.0): 5V/3A, 9V/3A, 12V/3A, 15V/3A, 20V/3A  (20V/5A), max.
60W (100W)

1 * magnetic wireless charging station: max. 15W (small circle magnet for
iPhone; large circle magnet for portable fan, light, etc.)

AC Parallel Port

220–240V/50Hz, 4.55A, 1000W MAX

Expansion Battery Port

19–25V, 50A MAX

Buttons

2-in-1 light button

main power button

ECO button

AC outlet/parallel button

DC output button

Temperature Range

Recharge

0–40℃/32–104℉

Discharge

-10–40℃/14–104℉

Safety Standards

UL, FCC, CE, RoHS, UN38.3, SGS, MSDS

Battery Life

3000 cycles

Operating Life

10 years

Dimensions

366 × 220 × 260 mm/14.4 × 8.7 × 10.2 in

Weight

13 kg/28 lbs/10.6 oz

What’s in the Box?

1 * ROMOSS RX1000 portable power station

1 * AC charging cable

1 * car charging cable

1 * user manual

About ROMOSS

Charge A New Future

ROMOSS Technology Co., Ltd. is a company that specializes in energy techs and consumer electronics, such as power banks, outdoor power systems, data cables, power adapters, car chargers, and power strips. ROMOSS was established in Shenzhen to deliver outstanding charging experiences globally while ensuring the highest quality standards in the industry. ROMOSS has developed a range of products, including the power bank, power station, charger, charging cable, which contains the ULTRA, the MAGNETIC, the LINE, the SENSE, the X  explore, the S speed, the NEO and the CYCLES, to cater to the diverse needs of its users over the past decade. ROMOSS products are sold in over 120 countries with over 600 technology patents.

The X1000 power station is a testament to ROMOSS’s commitment to innovation and customer satisfaction. At ROMOSS, we believe that everyone deserves a convenient and enjoyable charging life, and the X1000 is designed to make that possible for you. With the RX1000, you can stay connected and powered up, no matter where you are. In addition to being a power station, the X1000 is your ultimate charging solution.

Follow ROMOSS：

ROMOSS Official Website: https://www.romoss.com/ROMOSSX1000
Facebook: https://www.facebook.com/romossglobalpage
Instagram: https://www.instagram.com/romoss_global/
Tiktok: https://www.tiktok.com/@romossofficial
Youtube: https://www.youtube.com/@RomossGlobal/videos

ROMOSS PR

Leo Wu             Global Marketing Director          [email protected]
Vion Zhang       Global Branding Director           [email protected]
Amy Wang        Senior Marketing Manager         marketingteam@romoss.com

Source : ROMOSS's Evolutionary Freestyle Energy Solution is Coming Soon

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New functionality allows customers to ingest, govern, and share data in near real-time, while leveraging the scale and cost-efficiency of a data lake

BOSTON, Nov. 28, 2023 /PRNewswire/ — Starburst, the data lake analytics platform, today at AWS re:Invent 2023 announced new capabilities that enable organizations to build and scale game-changing data applications without compromising on performance or cost. With the increasing interest in building artificial intelligence (AI)-driven data applications, customers need to establish a solid data platform. New features in Starburst Galaxy help customers simplify development on the data lake by unifying data ingestion, data governance, and data sharing on a single platform.

Interactive applications oftentimes require the scalability and cost-efficiency of a data lake, but building and maintaining that data lake is complex and time-consuming for data teams. To overcome these challenges, Starburst has added support for:

Near real-time analytics with streaming ingestion: With streaming ingestion, customers can leverage Kafka to hydrate their data lake in near real-time, ensuring applications have the most up-to-date insights for their users. Upcoming support for fully managed solutions, such as Confluent Cloud, is also planned.

Automated data governance: As new data lands in the lake, machine learning models in Gravity – a universal discovery, governance, and sharing layer in Starburst Galaxy – will automatically apply classifications for certain categories. Depending on the class, Gravity will apply policies granting or restricting access. This automation is particularly useful for teams handling sensitive data like personally identifiable information (PII). Now, as soon as PII lands in the lake, Gravity will be smart enough to identify and restrict access to that data.

Automated data maintenance: New automations make it easy for customers to optimize their data lake by abstracting away common management tasks like data compaction and data vacuuming. Users can now maintain warehouse-like performance without adding brittle manual processes, as the volume and complexity of data in their data lake grows.

Universal data sharing with built-in observability: With Gravity, users can easily package data sets into shareable data products to power end-user applications, regardless of source, format, or cloud provider. New functionality will allow users to securely share these high-quality data products with third-parties, such as partners, suppliers, or customers.

Self-service analytics powered by AI: Not only are data lakes notoriously hard to manage, but the majority of data teams are understaffed. New AI-powered experiences in Galaxy, like text-to-SQL processing, will enable data teams to offload basic exploratory analytics to business users, freeing up their time to build and scale data pipelines.

"Data-intensive initiatives like AI require a solid data foundation to be successful," said Justin Borgman, Co-founder & CEO of Starburst. "We provide that foundation, giving our customers the ability to quickly access and analyze all their data in order to scale applications from the first hundred users to the first thousand and beyond. We ensure optimal performance even with high concurrency and exponentially growing data volumes. The new streaming ingest, data maintenance and governance automations, and data sharing capabilities in Starburst make it remarkably easy for teams to build, deploy, and scale applications on top of the data lake."

Halliburton is already taking advantage of this foundation. "After building good quality data products with Starburst, we saw an opportunity to use LLM to help with that process," said Fahad Ahmad, Data Science Leader, at Halliburton. "Previously it would take 2 to 3 weeks to get an answer to an ad hoc question. By embedding an LLM with Starburst’s data products architecture, data consumers can ask questions in plain language, have it converted to SQL, and get the answer back immediately."

Starburst’s position as an Amazon Web Services (AWS) Data and Analytics Competency Partner, means that AWS customers can rest assured that these features will be made available on the fastest hardware AWS has to provide, including AWS Graviton3 and the newly launched Amazon Simple Storage Service (Amazon S3) Zonal storage class, and will integrate seamlessly with core tools like AWS QuickSight and new tools like Amazon Bedrock.

To learn more about Starburst, including its offerings and integrations, please visit booth 1151 at AWS re:Invent 2023 or the website: www.starburst.io/.

About Starburst
For data-driven companies, Starburst offers a full-featured data lake analytics platform, built on open source Trino. Our platform includes the capabilities needed to discover, organize, and consume data without the need for time-consuming and costly migrations, enabling teams to focus on building differentiating features, not managing analytics infrastructure.

We believe the lake should be the center of gravity, and be the starting point for querying disparate data. With Starburst, teams can access more complete data, lower the cost of infrastructure, use the tools best suited to their specific needs, and avoid vendor lock-in. Trusted by companies like Comcast, Grubhub, and Priceline, Starburst helps companies make better decisions faster on all their data.

Source : Starburst Expands Support for Building Interactive Applications on the Data Lake

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MANCHESTER, England, Nov. 28, 2023 /PRNewswire/ — SmartKem, Inc. (OTCQB: SMTK), a company seeking to reshape the world of electronics with its disruptive organic thin-film transistors (OTFTs) that have the potential to drive the next generation of displays, today announced the appointment of Melisa A. Denis to the SmartKem Board of Directors, effective November 21, 2023. Ms. Denis will serve as the Chair of the Audit Committee of the Board, a member of the Compensation Committee and Nominating and Corporate Governance Committee.

SmartKem Chairman and CEO, Ian Jenks, commented, "We are pleased to welcome Melisa Denis to the SmartKem Board. Melisa’s Big-4 accounting background and public company board experience will be invaluable to SmartKem as we grow our business and pursue our mission to disrupt the world of technology with our leading-edge organic thin-film transistors".

Ms. Denis has served as a member of the audit committee and mergers and acquisitions committee of the board of directors of Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM) since November 20, 2020. Ms. Denis previously served as a partner at KPMG from 1998 to October 2020, including as National Tax Leader for Consumer Goods and as the leader of the Consumer and Industrial Market for Dallas. Ms. Denis has served as a member of the Board of Regents and chair of the audit committee for the University of North Texas System since January 2020, an advisory board member of Women Corporate Directors since 2011, and a board member of Enactus, a global non-profit, since 2019. Ms. Denis is a Certified Public Accountant and received her degree in accounting and her Bachelor of Science and Master of Science from the University of North Texas.

Ms. Denis was appointed to the Board to fill a vacancy created by the resignation, effective November 21, 2023, of Barbra M. Keck as a member of the Board. Ms. Keck will continue to serve as SmartKem’s Chief Financial Officer.

SmartKem’s OTCQB information can be found on the OTC Markets website: www.otcmarkets.com/stock/SMTK/overview 

About SmartKem 
SmartKem is reshaping the world of electronics with its disruptive organic thin-film transistors (OTFTs) that have the potential to drive the next generation of displays. SmartKem’s patented TRUFLEX® semiconductor and dielectric inks, or electronic polymers, are used to make a new type of transistor that could potentially revolutionize the display industry. SmartKem’s inks enable low temperature printing processes that are compatible with existing manufacturing infrastructure to deliver low-cost displays that outperform existing technologies. The company’s electronic polymer platform can be used in a number of display technologies including microLED, miniLED and AMOLED displays for next generation televisions, laptops, augmented reality (AR) and virtual reality (VR) headsets, smartwatches and smartphones.

SmartKem develops its materials at its research and development facility in Manchester, UK, its semiconductor manufacturing processes at the Centre for Process Innovation (CPI) at Sedgefield, UK and retains a field application office in Taiwan. The company has an extensive IP portfolio including 125 granted patents across 19 patent families and 40 codified trade secrets. For more information, visit: www.smartkem.com and follow us on LinkedIn and Twitter @SmartKemTRUFLEX.

Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the SmartKem’s expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on SmartKem Inc.’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as "may," will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expect," "intend," "plan," "project," "believe," "estimate," and other similar or elated expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

Source : SMARTKEM, INC. APPOINTS MELISA A. DENIS TO THE BOARD OF DIRECTORS

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BEIJING, Nov. 28, 2023 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced that by integrating data from EEG and fNIRS and using machine learning algorithms for classification optimization, the complementarity between EEG and fNIRS not only improves the accuracy and spatial resolution of brain activity recognition, but also provides more comprehensive data support for neuroscience research.

WiMi’s classification optimization based on EEG and fNIRS mainly includes the key steps of data acquisition and pre-processing, signal fusion and feature extraction, feature weighting and optimization, classifier design and training, and result analysis and optimization. This achieves data fusion and feature extraction by comprehensively utilizing the complementary advantages of EEG and fNIRS signals, and then adopts the weighted optimization method to strengthen the classification effect of features, and designs the classifier model using machine learning algorithms for training and optimization. Finally, the performance and stability of the classifier are improved through the analysis and optimization of the classifier training results. Key components include:

Data acquisition and pre-processing: By acquiring and pre-processing EEG and fNIRS signals. This uses specialized instrumentation for the acquisition of brain activity signals, and pre-processing techniques to filter, denoise, and correct the raw data to eliminate interference and noise, ensuring the reliability and accuracy of subsequent analyses.

Signal fusion and feature extraction: The pre-processed EEG and fNIRS signals are fused and key features are extracted. Fusion includes signal fusion algorithms based on time series, and spatial information fusion techniques. The feature extraction process may involve features extracted from different perspectives, such as spectral features, time-domain features, and spatial distribution features, in the time domain, frequency domain, or spatial domain.

Feature weighting and classifier design: The extracted features are weighted to improve the accuracy of the classifier. Attribute weighting methods based on k-Means clustering or difference-based attribute weighting method techniques are used. Features can be weighted according to their importance to improve the recognition of different features and thus improve the overall classifier performance.

Classifier training and validation: Using the weighted and optimized feature data, appropriate classification models are built, including linear discriminant analysis (LDA), support vector machine (SVM) and k nearest neighbor algorithm (kNN). The performance and accuracy of the classifiers are evaluated by training and validating the data in the training and validation sets to ensure their recognition and generalization of brain activities.

Result analysis and optimization module: Based on the training results of the classifiers, the algorithms and models are analyzed, and the parameters are further optimized and adjusted to improve the performance of the classifiers. By comparing the effects of different weighting methods and classifiers, the optimal solution is selected and further improvement of the algorithm is carried out to meet the needs of specific application scenarios.

WiMi’s EEG and fNIRS-based classification optimization aims to give full play to the complementary advantages of EEG and fNIRS signals, and improve the classification and recognition accuracy of brain activities through reasonable data processing and analysis methods. The cross-fertilization of the fields of neuroscience and artificial intelligence in this technical approach suggests that AI algorithms play an increasingly important role in neuroscience research. Combining machine learning algorithms with brain activity data analysis, can provide richer and more accurate data support for the development of artificial intelligence technology.

The development of WiMi’s EEG- and fNIRS-based classification optimization has brought new possibilities for the application of brain-computer interface technology. The breakthrough in this technology enables brain-computer interface devices to more accurately interpret brain activity and translate it into specific commands or operations, providing a more convenient and efficient way of human-computer interaction.

Overall, classification optimization based on EEG and fNIRS is of great significance and broad prospects in the fields of neuroscience research, artificial intelligence development and medical diagnosis, and its development will bring breakthroughs in the understanding and enhancement of human cognitive abilities. Providing a more accurate and reliable means of analyzing brain activity, helps to explore the working mechanism of the human brain and cognitive processes in greater depth. Through in-depth study of the association between brain activity patterns and cognitive functions, can provide richer data support for cognitive neuroscience research and promote the continuous development of neuroscience.

About WIMI Hologram Cloud

WIMI Hologram Cloud, Inc. (NASDAQ:WIMI) is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.

Safe Harbor Statements

This press release contains "forward-looking statements" within the 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. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release and the Company’s strategic and operational plans contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the US Securities and Exchange Commission ("SEC") on Forms 20−F and 6−K, 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. Forward-looking statements involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition, and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services.

Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and the current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement except as required under applicable laws.

Contacts
WIMI Hologram Cloud Inc.
Email: [email protected]
TEL: 010-53384913

ICR, LLC
Robin Yang
Tel: +1 (646) 975-9495
Email: wimi@icrinc.com

Source : WiMi Announced an Optimized Classification Based on EEG and fNIRS

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network