SHANGHAI, Oct. 11, 2023 /PRNewswire/ — U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced its unaudited financial results for the six months ended June 30, 2023.

Mr. Jia Li, Chief Executive Officer and Chairman of the Board of Directors of the Company, commented, "In the first half of fiscal 2023, we made considerable progress on the key objective of promoting the sales of commercial electric vehicles and the development of battery-swapping business models through the communication of industry insights with numerous domestic and international partners. This move helps us to customize a clearer growth plan for scaling our core business. We devoted ourselves to completing our U.S. initial public offering in a timely manner, which caused certain impacts on our financial performance. So, we actively expanded the export business of new energy vehicles with overseas partners following our listing on the Nasdaq in April 2023. We established a strategic partnership with Quantum Solutions Co., Ltd. in Japan and will provide battery-swapping vehicles for the Japanese urban express transportation market. We also entered into business cooperation with SCR Asset Management Group in Portugal, jointly exploring the sales of battery-swapping electric vehicles and two-wheeled electric motorcycles in Portuguese-speaking countries. Additionally, we partnered with Zhongneng Lithium Battery Technology Taizhou Co., Ltd, a Chinese company engaging in the research and application of lithium energy storage products, to jointly promote energy storage business based on the battery-swapping model worldwide. To strengthen our market position and enhance our competitiveness, we are committed to technological innovations to continuously develop and improve our proprietary UOTTA technology.  As such, investment in research and development remains our top priority. Our UOTTA technology is currently undergoing adaptation for use in commercial electric vehicles through collaborations with major auto manufacturers in China, and we have entered into cooperative agreements with two car manufacturers to jointly develop UOTTA-powered EV models by adapting selected EV models with our UOTTA technology."

Mr. Li continued, "We continue optimizing our business structure and have made profound improvement to our internal management system. We focus on our research and development as well as sales centered around our well-tailored business direction. Looking forward, we will work closely with overseas partners to drive the customized export business of four-wheeled electric vehicles and two-wheeled electric motorcycles using the UOTTA battery-swapping model. We will target the markets of the United States, Southern Europe, Southeast Asia, and South America with continued opportunities for further progress in the second half of this fiscal year and beyond. We are always committed to growing our business to create long term value for our shareholders."

First Half 2023 Financial Results

Revenues

Total revenues were RMB1.9 million (US$0.3 million) for the six months ended June 30, 2023, compared to RMB4.3 million for the same period of last year.

Revenues generated from sourcing services were RMB1.4 million (US$0.2 million) for the six months ended June 30, 2023, increased by 11.4% from RMB1.3 million for the same period of last year. The Company didn’t generate revenue from product sales for the six months ended June 30, 2023, because the Company could not secure sales of battery swapping stations in the new market regions due to insufficient business development in those regions, while the sales in the established market regions had been completed. Revenues generated from product sales were RMB2.6 million for the same period of last year, Revenues generated from battery-swapping services were RMB461,000 (US$64,000) for the six months ended June 30, 2023, increased by 34.4% from RMB343,000 for the same period of last year.

Cost of Revenues

Total cost of revenues was RMB597,000 (US$82,000) for the six months ended June 30, 2023, compared to RMB2,748,000 for the same period of last year.

Gross Profit

Gross profit was RMB1.3 million (US$0.2 million) for the six months ended June 30, 2023, compared to RMB1.5 million for the same period of last year. The decrease was mainly due to the decrease in product sales of swapping-stations for the six months ended June 30, 2023.

Operating Loss

Total operating loss was RMB20.5 million (US$2.8 million) for the six months ended June 30, 2023, compared to RMB13.7 million for the same period of last year.

General and administrative expenses were RMB16.8 million (US$2.3 million) for the six months ended June 30, 2023, increased slightly from RMB11.5 million for the same period of last year. The increase was primarily due to the increase in audit and other professional service costs for the six months ended June 30, 2023. Sales and marketing expenses were RMB1.0 million (US$0.1 million) for the six months ended June 30, 2023, increased by 16.9% from RMB0.9 million for the same period of last year. The increase was primarily due to the bidding costs for selling battery swapping stations for the six months ended June 30, 2023. Research and development expenses were RMB1.9 million (US$0.3 million) for the six months ended June 30, 2023, decreased by approximately 30.9% from RMB2.8 million for the same period of last year. The decrease was primarily due to the decrease of certain performance-related expenses for the six months ended June 30, 2023. Expected credit losses were RMB2.1 million (US$0.3 million) for the six months ended June 30, 2023, the Company didn’t have expected credit lossess for the same period of last year. The increase was primarily due to the provision of expected credit losses of accounts receivable, advance to suppliers and other current assets for the six months ended June 30, 2023.

Interest Income and Expenses

Interest income was RMB31,000 (US$4,000) for the six months ended June 30, 2023, decreased from RMB1,196,000 for the same period of last year, primarily due to the decrease of bank interest income. Interest expenses were RMB497,000 (US$69,000) for the six months ended June 30, 2023, increased from RMB239,000 for the same period of last year, primarily due to the increase of loan interest and bank interest.

Other Income and Expenses

Other income was RMB16,145,000 (US$2,226,000) for the six months ended June 30, 2023, compared to RMB10,000 for the same period of last year. The increase was primarily due to the government grant recognized for the six months ended June 30, 2023. Other expenses were RMB1.0 million (US$0.1 million) for the six months ended June 30, 2023, compared to RMB0.3 million for the same period of last year. The increase was primarily due to the investment loss recognized for the six months ended June 30, 2023.

Net Loss

Net loss was RMB7.2 million (US$1.0 million) for the six months ended June 30, 2023, compared to RMB13.0 million for the same period of last year. Basic and diluted loss per share were RMB0.07 (US$0.01) for the six months ended June 30, 2023, compared to RMB0.22 for the same period of last year.

Financial Condition

As of June 30, 2023, the Company had cash and cash equivalents of RMB107.8 million (US$14.9 million), compared to RMB4.9 million as of December 31, 2022.

Net cash used in operating activities were RMB6.0 million (US$0.8 million) for the six months year ended June 30, 2023, compared to RMB12.1 million for the same period of last year.

Net cash provided by investing activities were RMB6.3 million (US$0.9 million) for the six months ended June 30, 2023, compared to net cash used in financing activities of RMB1.9 million for the same period of last year.

Net cash provided by financing activities were RMB102.7 million (US$14.1 million) for six months ended June 30, 2023, compared to RMB1.1 million for the same period of last year.

Exchange Rate Information

This press release contains translations of certain Renminbi ("RMB") amounts into U.S. dollars ("US$") solely for the convenience of the reader. Unless otherwise specified, all translations from RMB into US$ amounts in this press release were calculated at the rate of US$1.00 to RMB7.2513, representing the noon buying rate in The City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York on June 30, 2023.

About U Power Limited

U Power Limited is a vehicle sourcing services provider, with a vision to becoming an EV market player primarily focused on its proprietary battery-swapping technology, or UOTTA technology, which is an intelligent modular battery-swapping technology designed to provide a comprehensive battery power solution for EVs. Since its operation in 2013, the Company has established a vehicle sourcing network in China’s lower-tier cities. The Company has developed two types of battery-swapping stations for compatible EVs and is operating one manufacturing factory in Zibo City, Shandong Province, China. For more information, please visit the Company’s website: http://ir.upincar.com/.

Forward-Looking Statements

This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.

For investor and media inquiries, please contact:

U Power Limited

Investor Relations Department

Email: [email protected]

Ascent Investor Relations LLC

Tina Xiao

Phone: +1-646-932-7242

Email: [email protected]

U POWER LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of RMB and US$, except for number of shares)

As of

December 31,

June 30,

June 30,

Notes

2022

2023

2023

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

4,881

107,830

14,870

Restricted cash

1,027

1,027

142

Accounts receivable

5

1,617

655

90

Inventories

6

5,457

6,605

911

Advance to suppliers

7

6,993

17,413

2,401

Other current assets

8

33,917

37,744

5,205

Amount due from related parties

17

120

175

24

Total current assets

54,012

171,449

23,643

Non-current assets:

Property, plant and equipment, net

9

16,282

14,046

1,937

Intangible assets, net

10

286

236

33

Operating lease right-of-use assets, net

15

19,250

16,819

2,319

Long-term investments

11

111,811

111,791

15,417

Refundable deposit for investment

12

80,183

74,877

10,326

Other non-current assets

30

24

3

Total non-current assets

227,842

217,793

30,035

Total assets

281,854

389,242

53,678

LIABILITIES AND EQUITY

Current liabilities:

Current portion of loan payables

16

6,500

6,500

896

Accounts payable

11,130

13,182

1,818

Accrued expenses and other liabilities

14

33,735

30,430

4,196

Income tax payables

19

2,580

3,932

542

Advances from customers

3,258

4,913

678

Operating lease liabilities – current

15

1,696

1,271

175

Amount due to related parties

17

251

11,263

1,553

Total current liabilities

59,150

71,491

9,858

Non-current liabilities:

Operating lease liabilities – non-current

15

4,789

4,361

601

Non-current portion of long-term borrowing

13

10,000

10,000

1,379

Non-current portion of loan payables

16

–

–

–

Total non-current liabilities

14,789

14,361

1,980

Total liabilities

73,939

85,852

11,838

Commitments and contingencies

22

2,900

2,900

400

Shareholders’ equity:

Ordinary shares (US$0.0000001 par value;
     500,000,000,000 shares authorized; 50,000,000 and
     52,500,000 issued and outstanding as of December 31,
     2022 and June 30, 2023, respectively)

–

–

–

Additional paid-in capital

319,775

417,428

57,566

Accumulated deficit

(153,838)

(157,305)

(21,693)

Total U POWER LIMITED’s shareholders’ equity

165,937

260,123

35,873

Non-controlling interests

39,078

40,367

5,567

Total equity

205,015

300,490

41,440

Total liabilities and equity

281,854

389,242

53,678

*

The shares and per share data are presented on a retroactive basis to reflect the reorganization (Note 1).

U POWER LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(Amounts in thousands of RMB and US$, except for number of shares and per share data)

For the six months ended June 30,

Notes

2022

2023

2023

RMB

RMB

US$

Net revenues

  Product sales

2,634

–

–

  Sourcing services

1,300

1,435

198

  Battery-swapping services

343

461

64

Total net revenues

4,277

1,896

262

  Cost of revenues

(2,748)

(597)

(82)

Gross profit

1,529

1,299

180

Operating expenses:

  Sales and marketing expenses

(866)

(1,012)

(140)

  General and administrative expenses

(11,525)

(16,792)

(2,316)

  Research and development expenses

(2,810)

(1,941)

(268)

  Expected credit losses

–

(2,086)

(288)

  Total operating expenses

(15,201)

(21,831)

(3,012)

Operating loss

(13,672)

(20,532)

(2,832)

  Interest income

1,196

31

4

  Interest expenses

(239)

(497)

(69)

  Other income

10

16,145

2,226

  Other expenses

(276)

(981)

(135)

Loss before income taxes

(12,981)

(5,834)

(806)

  Income tax expenses

19

(5)

(1,344)

(185)

Net loss

(12,986)

(7,178)

(991)

  Less: Net loss attributable to non-controlling interests

(2,029)

(3,711)

(512)

Net loss attributable to the Company’s shareholders 
   and total comprehensive loss

(10,957)

(3,467)

(479)

Loss per share attributable to ordinary shareholders of
   the Company’s shareholders * 

  Basic and diluted 

21

(0.22)

(0.07)

(0.01)

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

  Basic and diluted

50,000,000

50,416,667

50,416,667

*

The shares and per share data are presented on a retroactive basis to reflect the reorganization (Note 1).

U POWER LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands of RMB and US$, except for number of shares)

For the six months ended June 30,

2022

2023

2023

RMB

RMB

US$

CASH FLOWS FROM OPERATING ACTIVITIES

Net loss

(12,986)

(7,178)

(991)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

850

1,320

182

Amortization of right-of-use assets

6,521

2,762

381

Loss on termination of right-of-use assets

–

–

–

Expected credit losses

–

2086

288

Impairment of inventory

–

–

–

Share of loss in equity method investee

–

–

–

Changes in operating assets and liabilities:

Accounts receivables

(2,913)

933

129

Inventories

(1,513)

(1,149)

(158)

Advance to suppliers

36,101

(10,853)

(1,497)

Other current assets

(3,392)

(5,452)

(752)

Amount due from related parties

139

(55)

(8)

Other non-current assets

45

–

–

Accounts payables

2,220

2,053

283

Accrued expenses and other payables

2,104

(3,304)

(456)

Income tax payables

–

1,351

186

Advance from customers

(34,291)

1,655

228

Amount due to related parties

1,021

11,012

1,519

Operating lease liabilities

(6,049)

(1,184)

(163)

Net cash used in operating activities

(12,143)

(6,003)

(829)

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of property and equipment

(862)

972

134

Purchases of intangible assets

(12)

–

–

Loans provided to third parties

(914)

–

–

Loans repayments from third parties

1,653

5,307

732

Loans provided to related parties

(1)

–

–

Loans repayments from related parties

–

–

–

(Payment for) Return of long-term investments

(1,750)

20

3

Net cash used in (provided by) investing activities

(1,886)

6,299

869

CASH FLOWS FROM FINANCING ACTIVITIES

Capital contribution by non-controlling shareholders

1

5,000

690

Loans received from a third party

1,101

–

–

Loans received from long-term bank borrowing

–

–

–

Proceeds from issuance of loan payable

–

–

–

Capital contribution from issurance of ordinary shares

–

97,653

13,467

Repayments of long-term bank borrowing

–

–

–

Repayments of loan payable

–

–

–

Net cash provided by financing activities

1,102

102,653

14,157

Net increase (decrease) in cash and cash equivalents and restricted cash

(12,927)

102,949

14,197

Cash and cash equivalents and restricted cash at beginning of year

25,687

5,908

815

Cash and cash equivalents and restricted cash at end of period

12,760

108,857

15,012

Supplemental disclosures of non-cash activities:

Right-of-use assets obtained in exchange for new operating lease
liabilities

–

331

46

Derecognition of right-of use-assets

–

–

–

Derecognition of lease liabilities

–

–

–

Source : U Power Limited Reports First Half of Fiscal Year 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

CUPERTINO, Calif., Oct. 11, 2023 /PRNewswire/ — Ambow Education Holding Ltd. (NYSE American: AMBO) ("Ambow" or the "Company"), an AI technology-driven educational company with primary operations in the United States, today announced that it 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").

The Notice has no immediate effect on the listing or trading of Ambow’s securities.

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.
Email: [email protected]

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

https://platform.twitter.com/widgets.js

Source : Ambow Education Receives Notice of NYSE American Continued Listing Deficiency

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BlackBerry in collaboration with AWS announces UEM at the Edge and UEM for the IoT

WATERLOO, ON, Oct. 11, 2023 /PRNewswire/ — BlackBerry Limited (NYSE: BB; TSX: BB), the pioneer of enterprise mobility management, today announced two major new Unified Endpoint Management (UEM) innovations – BlackBerry UEM at the edge and BlackBerry UEM for the IoT.

BlackBerry® UEM software is used for managing, monitoring, and securing all of an organization’s end-user devices. Taking BlackBerry UEM to the edge will enhance enterprise productivity and employee experience by placing workloads close to the end user and their device for ultra-low latency connectivity, while maintaining the highest security standards that customers rely on and trust BlackBerry to deliver – in testing users saw up to 87% decrease in latency. The solution brings the BlackBerry Network Operations Center (NOC), the company’s unique secure connectivity infrastructure, to the edge and integrates with AWS Local Zones and Availability Zones to securely place compute, storage, and other services where data is being generated and consumed. BlackBerry UEM at the edge is compatible with BlackBerry UEM on-prem and cloud.

BlackBerry UEM for the Internet of Things (IoT) will expand unified endpoint management to IoT devices enabling organizations to realize the vast benefits of the IoT and reduce unknown risks in their environment. The solution integrates BlackBerry UEM with AWS IoT Greengrass, an open source edge runtime and cloud service used on millions of IoT endpoints across the connected world – in factories, vehicles, healthcare, enterprises – to provide IoT endpoint visibility and management and empower IT teams. Advancing the company’s convergence vision, this new addition to BlackBerry UEM will enable organizations to seamlessly and securely inventory and manage their IT and IoT endpoints from a single console.

"BlackBerry founded and has been a leader in the enterprise mobility management market for over twenty years. We are once again revolutionizing the market, by leapfrogging the industry in endpoint management innovation and paving the way for convergence," said Neelam Sandhu, Chief Elite Customer Success Officer, BlackBerry. "It has been wonderful to collaborate with AWS to develop BlackBerry UEM at the edge and BlackBerry UEM for the IoT, to enable our customers to unlock new business value through digital technologies, which offer the potential to transform and advance every aspect of the connected world, spanning how we live and work." 

"IoT has advanced over the past years across different industries – automotive, enterprise, medical, manufacturing. The convergence of the IoT with security at the forefront of the conversation is now emerging as a must-have for the connected world. Bridging systems in the cloud provides scale, consistency, and flexibility to organizations to access data across the IoT and developers to innovate to deliver new value. AWS is delighted to collaborate with BlackBerry on UEM edge and IoT solutions to deliver unified and innovative endpoint management solution for the future of the connected world," said Dr. Sarah Cooper, General Manager for Industry Products at AWS.

The IoT is a foundational pillar of the future of digital transformation and unlocks new business opportunities for organizations by dramatically extending the reach of information technology. The value of enterprise IoT is largely untapped today due to the heavy compute requirements of the IoT and the complexity of the IoT network. Edge computing addresses the increasing demand for real-time data processing and analysis, and increased endpoint visibility provides valuable situational awareness and security benefits, enabling organizations to easily integrate IoT into their IT strategies. 

BlackBerry UEM holds the most security certifications in the industry and is the only UEM product to be named 2023 Customers Choice by Gartner® Peer Insights™.

AWS provides reliable, scalable, and inexpensive cloud computing services to organizations around the world. For more information on AWS products click here.

For more information on BlackBerry UEM at the edge or BlackBerry UEM for the IoT, including general availability dates, register for BlackBerry Summit, taking place on October 17, where speakers from industry, enterprise and BlackBerry will reveal the future of IoT, IT and Cybersecurity and showcase the latest BlackBerry innovations.

About BlackBerry
BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including over 235M vehicles. Based in Waterloo, Ontario, the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety, and data privacy solutions, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems. BlackBerry’s vision is clear – to secure a connected future you can trust.

For more information, visit BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BLACKBERRY and EMBLEM Design are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.

Media Contact:
BlackBerry Media Relations
+1 (519) 597-7273
[email protected]

Source : BlackBerry Unveils Next-Generation UEM Redefining the Endpoint Management Market

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

TAIPEI, Oct. 11, 2023 /PRNewswire/ — D-Link Corporation exclusively partnered with Meta to launch the DWA-F18 VR Air Bridge, which received rave reviews after its debut in North America last year. The DWA-F18 VR Air Bridge was released in Europe this July. This wireless adapter not only supports the Meta Quest 2 and Meta Quest Pro headsets but also the latest release of this year, the Meta Quest 3.

The DWA-F18 VR Air Bridge offers simple setup and optimized performance for Meta Quest headsets, enhancing user experience by leveraging the power of Wi-Fi 6 to establish a high-speed, low-latency connection between gaming PCs and Meta Quest headsets.

Paired with the sleeker and more stylish Meta Quest 3, users can enjoy unparalleled freedom of movement, thanks to the wireless link that enables an untethered 360 degrees of motion, eliminating tangled cords and restricted mobility, and elevating gaming experiences to the next level.

The latest Meta Quest 3 VR headset incorporates built-in support for hand tracking technology, eliminating the need for controllers to explore the virtual world. With Direct Touch technology and the DWA-F18 VR Air Bridge, users can interact directly with virtual objects without restrictions using their hands for a more immersive experience. The powerful combination of Meta Quest 3 and the DWA-F18 VR Air Bridge seamlessly integrates the virtual and real worlds, offering improved real-time streaming and graphical performance. This allows stunningly clear details and smoother performance in immersive gaming, creating a truly breathtaking user experience.

The DWA-F18 VR Air Bridge is now available in North America and Europe. For more information, please visit https://www.dlink.com/en/consumer/products/home-networking/adapters/dwa-f18

About D-Link 
D-Link is a global leader in designing and developing networking and connectivity products and total solutions for consumers, small businesses, medium to large-sized enterprises, and service providers. From relatively modest beginnings in Taiwan, the company has grown into an award-winning global brand in 44 countries. Find out more about D-Link at www.dlink.com

Source : D-Link's DWA-F18 VR Air Bridge Tailored for Meta Quest 3

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

BEIJING, Oct. 10, 2023 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced that the digital-twin visualization architecture built by WiMi is an important way of applying digital twin technology. It uses advanced computer graphics and visualization technology to present the digital twin model to the user in an intuitive way and connect it with real-time data to provide users with comprehensive visualization and real-time analysis capabilities, helping users better understand and analyze the entity or system and operate it easily and quickly. The digital-twin visualization architecture includes key modules such as data collection and processing, digital twin model, visualization engine and user interface.

In order to build a digital twin model, data collection and data processing of the entity or system are first required. The collected data are then processed and transformed in order to correspond and match with the digital twin model. The next step is to build the digital twin model, which is the basis of the digital-twin visualization architecture and is an accurate digital model of the actual entity or system. The digital twin model includes geometry, physical properties, and motion behavior information. By modeling and simulating the data of the entity or system, a digital twin model is created that corresponds to the actual situation.

In addition, the system includes the visualization engine, which is the core component of the digital-twin visualization. It is responsible for presenting the digital twin model and actual data in a visualized form to the user or decision maker. This can be achieved through charts, images, animations, virtual reality, etc., providing realistic visualization. Meanwhile, the user can interact with the visualization engine to observe and analyze the digital twin model and can explore different scenarios, parameters, and decisions in order to make more accurate predictions and optimizations. The user interface, on the other hand, is the interface through which the user interacts with the digital-twin visualization system, providing various operations and controls that enable the user to freely navigate and manipulate the digital twin model.

WiMi’s digital-twin visualization architecture is in real-time and is capable of collecting and processing data from various entities in real-time. The real-time data is collected and transmitted to the digital model for analysis and visualization, enabling decision makers to understand the state and performance of entities and make adjustments accordingly. The core of the digital-twin visualization architecture is to connect physical entities with their digital copies, and the feedback of real-time data allows users to accurately understand the state and performance of physical entities. Through sensors and monitoring devices, real-time data can be captured and synchronized with the digital twin for updates. This real-time feedback allows users to identify problems and take action in a timely manner, improving efficiency and safety. Moreover, the digital-twin visualization architecture not only reflects the current real-time state of physical entities, but also allows for simulation and prediction through modeling. Based on historical data and algorithmic models, the digital twin can predict the future behavior and performance of physical entities. This capability allows users to identify potential problems in advance and take appropriate preventive measures, thereby reducing losses and risks.

The digital-twin visualization architecture can fuse information from multiple data sources, including sensor data, historical data, market data, and more. By integrating these data together, a more comprehensive understanding of an entity’s operation can be obtained and more accurate predictions and decisions can be made, as well as the data can be intelligently analyzed and optimized using AI and machine learning technologies. For example, by learning from historical data and pattern recognition, the system can automatically identify problems and anomalies, and propose appropriate solutions. This intelligent analysis and optimization capability can greatly improve the efficiency and performance of the entity.

WiMi uses 3D visualization technology to present digital models realistically. Through virtual reality technology, decision makers can observe and manipulate the digital model as if they were there to better understand the structure and behavior of the entity. This intuitive visualization can help decision makers better understand and analyze problems, and can also help users discover hidden correlations and patterns and make more accurate decisions. At the same time, the digital-twin visualization architecture can also facilitate multi-party collaboration. By sharing digital twin models and real-time data, different partners can work together on the same platform. For example, in the industrial sector, manufacturers, suppliers, and maintenance personnel can collaborate on design, process optimization, and troubleshooting through digital twins, which can greatly improve efficiency and operational accuracy.

In the future, with the continuous development of artificial intelligence, IoT and big data technologies, digital-twin visualization technology will also be further improved and applied. Digital-twin visualization technology will become an important tool for the intelligent transformation of various industries, which will bring more efficient and intelligent solutions to various industries, provide more accurate and comprehensive information to decision makers, and help them make more informed decisions. At the same time, digital-twin visualization technology will also promote collaboration between different industries and accelerate technological innovation and industrial development.

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.

Source : WiMi Built Digital-Twin Visualization Architecture

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PALO ALTO, Calif., Oct. 10, 2023 /PRNewswire/ — Today, Hesai Technology (Nasdaq: HSAI) announced an ADAS lidar design win with Neta Auto’s new series production vehicle. Hesai will supply ultra-high resolution long range lidar AT128 for Neta Auto’s upcoming vehicle model which is expected to launch in the first half of 2025.

Hesai Announces ADAS Lidar Design Win with Neta Auto’s New Series Production Vehicle

Neta Auto is a leader in the smart EV industry. The company is committed to making high-quality smart EV accessible to consumers worldwide. Despite intense market competitions in 2023, Neta Auto has maintained a monthly sales volume of over 10,000 units, firmly establishing itself as a leading EV automaker. By September 2023, it has accumulated a substantial user base of nearly 350,000 customers. Neta Auto also has the highest monthly registrations for electric vehicles in Thailand in 2023, and has began construction on its first Thailand factory. Neta Auto’s international footprint spans across ASEAN, South America, and the Middle East, with offices in China, Europe, Thailand and Indonesia working efficiently in collaboration. Neta Auto also confirmed its plan to establish an international headquarters in Hong Kong, further deepening Neta Auto’s presence in the global market.

In response to the evolving and increasingly diversified consumer demands, Neta Auto is focusing on technological innovation to provide consumers with high-quality smart mobility experience. In 2022, Neta Auto introduced the "NNP" highway navigation assistance function to the Neta S model, bringing consumers an advanced intelligent driving experience. Neta Auto’s new series production vehicle will also showcase its latest R&D achievements on the intelligent driving function.

Zhang Yong, co-founder and CEO of Neta Auto, said: "Hesai is a global leader in lidar solutions for autonomous mobility and ADAS vehicles. It is also a vital strategic partner in Neta Auto’s ongoing innovation in the intelligent driving sector. This collaboration featuring Hesai’s AT128 will effectively upgrade the new series production vehicle by enhancing NETA PILOT’s advanced intelligent driving system. I believe our cooperation will yield fruitful results and promote autonomous driving solutions to be used in more scenarios."

David Li, co-founder and CEO of Hesai, said: "Neta Auto is an emerging force in the EV sector, having achieved numerous accomplishments in areas such as automotive intelligence, global expansion, market orientation, and customer services. We are glad to reach partnership with Neta Auto, and together we are committed to achieve breakthroughs in intelligent driving for its new series production vehicle. Our joint efforts will provide Neta Auto’s consumers with a safer, more comfortable, and highly efficient driving experience."

As a global leader in the lidar industry, Hesai prides itself on delivering high-performance, highly reliable, and affordable products. Its automotive-grade lidars enable a broad spectrum of applications including ADAS passenger and commercial vehicles, and autonomous driving vehicles. As of the second half of 2023, Hesai has delivered over 190,000 lidar units, showcasing its outstanding mass production and delivery capabilities.

Hesai will provide cutting-edge lidar technology for Neta Auto’s new series production vehicle. The AT128 is an automotive-grade long-range lidar that has an exceptional overall resolution of 1200×128. It can output real-time 3D data at a remarkable rate of 1.53 million points per second. In addition, it has a detection range of up to 200 meters (@10% reflectivity), which can outline objects in great detail. As the primary lidar sensor for ADAS applications, the AT128 has high performance, high reliability, and great affordability. Since its mass production and delivery in 2022, AT128 has empowered numerous passenger vehicles from leading OEMs. The cumulative deliveries for AT128 have surpassed 130,000 units.

Hesai’s Maxwell Center, located in Shanghai, is approaching its completion of construction and expected to commence operation by the end of 2023. It undertakes functions such as R&D, production, and automotive-grade reliability testing of lidar. Maxwell adopts highly advanced intelligent manufacturing technology, proprietary cloud-based MES system, and a large number of smart industrial robots, achieving automation for over 100 production processes with an automation rate of 90%. Maxwell not only ensures rapid iteration and high-quality products, but also provides guarantee for large-scale mass production and delivery, meeting customers’ diverse and customized production needs.

Hesai and Neta Auto are joining forces to enhance the ADAS driving functionalities of its new series production vehicle. Looking forward, the two companies will continue to leverage their strengths to jointly advance the development and implementation of intelligent driving technology for a wide range of applications.

About Hesai

Hesai Technology (Nasdaq: HSAI) is a global leader in lidar solutions. The company’s lidar products enable a broad spectrum of applications including passenger and commercial vehicles with Advanced Driver Assistance Systems (ADAS), autonomous driving vehicles, and robotic applications such as last-mile delivery robots and AGVs. Hesai seamlessly integrates its in-house manufacturing process with lidar R&D and design, enabling rapid product iteration while ensuring high performance, high quality and affordability. The company has superior R&D capabilities across optics, mechanics, electronics, and software. Hesai has established offices in Shanghai, Palo Alto and Stuttgart, with customers spanning over 40 countries.

Source : Hesai Announces ADAS Lidar Design Win with Neta Auto's New Series Production Vehicle

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

NEW YORK, Oct. 10, 2023 /PRNewswire/ — Planet Green Holdings Corp. ("Planet Green", the "Company") (NYSE American: PLAG) a provider of consumer products, chemical products, and online advertising and mobile games on the Chinese and North American markets, announced today that its subsidiary Allinyson Ltd. ("Allinyson") has achieved an one-year-term groundbreaking strategic partnership with MetaMind AI Limited ("MetaMind"), aiming to revolutionize the landscape of artificial intelligence (AI) technology services. This collaboration, established through a Cooperation Agreement, is set to drive innovation, and propel both companies into the forefront of the AI industry.

Under the Cooperation Agreement, Allinyson and MetaMind mutually acknowledge each other as strategic partners and grant permission to establish partner logo links or text links on their respective websites. Both parties also authorize their partner to repost relevant information from the other party’s website on their sites, with proper attribution. In addition, Allinyson and MetaMind collaborate to jointly promote and endorse each other’s brands both online and offline, including exhibitions, seminars, forums, and brochures. MetaMind will also provide application programming interface and technical support tailored to meet Allinyson’s specific business requirements.

Mr. Bin Zhou, Chairman and CEO of Green Planet Holdings Corp., expressed enthusiasm for this collaboration, stating, "The strategic partnership with MetaMind marks a significant advancement in promotion of our AI capabilities and services. We believe this partnership will underscore our unwavering commitment to innovation of AI-driven technologies in the game product development and intelligent gaming experiences, as we previously unveiled our breakthrough product, ChatAlpha – the next generation integrated AI conversational robot, which is set to transform the way game players engage with AI-powered assistants. "

About Allinyson Ltd.

Allinyson Ltd., a company incorporated in the State of Colorado and a wholly owned subsidiary of Planet Green Holdings Corp., is committed to delivering innovative and captivating gaming experiences. A prominent player in the artificial intelligence solutions industry, Allinyson focuses on leveraging advanced technologies, and consistently pushes the boundaries of game and interactive tools development, creating high-quality games that captivate players world widely. For more information about Allinyson’s games products, please visit: http://www.allinyson.com.

About Planet Green Holdings Corp

Based in Flushing, New York, Planet Green Holdings Corporation (NYSE American: PLAG) is a Nevada holding company that has been in operation since 1994. Over the years, The Company has expanded its portfolio from consumer products to a well-diversified range of offerings, including energy products and AI-driven services. The Company’s reach has extended to both the Chinese and North American markets. For more information, please visit: https://planetgreenholdings.com/.

Forward-looking statement

This news release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on our management’s current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in our reports filed with the Securities and Exchange Commission, which are available, free of charge, on the SEC’s website at www.sec.gov.

For more information, please contact:

The Company:
Ms. Lili Hu
Chief Financial Officer
Phone: + 718 799 0380
Email: hulili@planetgreenholdings.com

Investor Relations:
WFS Investor Relations Inc.
Janice Wang
Email: [email protected]
Phone: +86 13811768599
+1 628 283 9214

Source : Planet Green Holdings Corp Subsidiary Allinyson Ltd Forges Strategic Partnership with MetaMind AI Limited on AI Technology Solutions

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NEW YORK, Oct. 11, 2023 /PRNewswire/ — Atom Fresh Laboratory is now available for purchase online on Amazon. 

Atom Fresh Laboratory, the leading deodorant brand known for its range of invigorating fragrances, is revolutionizing the world of personal care with its aluminum-free, paraben-free, and baking soda-free formulas. Designed to provide a dual effect of absorbing and eliminating odors, Atom Fresh Laboratory is set to become the go-to deodorant for individuals seeking a refreshing and reliable solution to combat unwanted body odors.

Atom Fresh Laboratory understands the importance of smelling great while keeping the body fresh and comfortable throughout the day, not always an easy balance. With a diverse range of fragrances including fruity, floral, and fresh scents, there is something to suit everyone’s personal preferences. Whether you’re heading to the office, hitting the gym, or going out with friends, Atom Fresh Laboratory has the perfect fragrance to enhance your confidence and leave those using it feeling revitalized.

Atom Fresh Natural Deodorant

What sets Atom Fresh Laboratory apart from other deodorant brands is its commitment to creating high-quality products that are free from potentially harmful ingredients. By eliminating aluminum, parabens, and baking soda from its formulations, Atom Fresh Laboratory ensures that users can confidently embrace a healthier lifestyle without compromising on odor protection. The brand believes in providing an effective solution that cares for both the body and the environment.

Atom Fresh Laboratory’s dual effect technology is a game-changer in the deodorant industry. The formula is designed to absorb moisture and neutralize odors, ensuring that users feel confident and odor-free all day long. Unlike other deodorants that simply mask unpleasant smells, Atom Fresh Laboratory tackles the root cause, leaving users feeling clean and refreshed.

In addition to its exceptional odor-fighting capabilities, Atom Fresh Laboratory boasts a smooth and non-irritating formula that glides effortlessly onto the skin. The quick-drying and non-sticky texture make it an ideal choice for individuals on the go, allowing them to apply and continue with their day without any interruptions.

Atom Fresh Laboratory is committed to promoting sustainability and making a positive impact on the environment. By creating deodorants free from aluminum, parabens, and baking soda, the brand reduces its carbon footprint and supports conscious consumerism. Additionally, all Atom Fresh Laboratory products are cruelty-free, ensuring that no animals are harmed during the development and testing processes.

Atom Fresh Laboratory is now available for purchase online on Amazon. Discover the fragrance that resonates with your senses and experience the refreshing and long-lasting protection of Atom Fresh Laboratory. Get up to 60% OFF Prime Exclusive Discounts now.

Atom Fresh Natural Deodorant for Women & Men

For media inquiries, please contact:

[Atom Fresh Lab]
Official Facebook：https://www.facebook.com/AtomFreshLaboratory
Service Team：[email protected]

About Atom Fresh Laboratory:

Atom Fresh Laboratory is a leading deodorant brand committed to providing individuals with a refreshing and reliable solution for everyday odor protection. With a range of fragrances including fruity, floral, and fresh scents, Atom Fresh Laboratory offers a diverse selection to suit every individual’s preference. The brand’s aluminum-free, paraben-free, and baking soda-free formulas, combined with its dual effect technology, absorb and eliminate odors for long-lasting freshness. Atom Fresh Laboratory believes in creating products that promote overall well-being while also supporting sustainability and conscious consumerism. For more information, visit [https://bit.ly/457WYyf].

Source : Atom Fresh Laboratory: The Perfect Deodorant Experience for Everyday Activities

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