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Jowell Global Ltd. Announces First Half 2023 Unaudited Financial Results

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— First Half Revenue of $84.4 million, down 15.9% year-over-year —
— First Half GMV of $115.5 million, down 20.6% year-over-year —

SHANGHAI, Nov. 25, 2023 /PRNewswire/ — Jowell Global Ltd. (“Jowell” or the “Company”) (NASDAQ: JWEL), one of the leading cosmetics, health and nutritional supplements, and household products e-commerce platforms in China, today announced its unaudited financial results for the six months ended June 30, 2023.

First Half 2023 Financial and Operational Highlights

  • Total revenues were $84.4 million, a decrease of 15.9% from $100.4 million in the same period of 2022.
  • Net loss was $7.1 million, a decrease of 11.4% compared to a net loss of $8.0 million in the same period of 2022.
  • Total GMV (Gross Merchandise Value) transacted in our online shopping mall was $115.5 million, a decrease of 20.6% from $145.5 million in the same period of 2022.
  • Total VIP members1 as of June 30, 2023 were approximately 2.5 million, an increase of 3.7% compared to approximately 2.4 million as of June 30, 2022.
  • Total LHH stores2 as of June 30, 2023 were 26,528, an increase of 1.2% compared to 26,224 as of June 30, 2022.

Mr. Haiting Li, Chief Executive Officer and Chairman of the Company, commented:

“Although we experienced a challenging first half of 2023, we believe that we continue to be well positioned to weather what has been a challenging and changing consumer demands. Our business operates in four distinct distribution channels that covers the wide range of consumer engagements and we are confident that this diversification will enable us to meet the current consumer needs for household products as well as what we believe will be pent-up consumer demand when a more vibrant economic cycle emerges. We are particularly buoyed by our select partnerships with third-party merchants and our online presence which helped to mitigate what could have been a further decline resulting from the economic consequences of the pandemic.”

“We plan upon enacting a strategic plan across all of our distribution platforms that we believe will have the synergistic effect of boosting revenue for all of our product lines. As an example, in this changing economic environment, our household goods segment showed strong growth and became our biggest product revenue producer and was up 56% for the first six months of the year as compared to the year-ago period. We are intent upon deploying creative and highly engaging promotional and marketing strategies to the products with good value and build confidence of our customers that they can always find what they need on our platform in different economic environments and to sustain their brand loyalty over the long term.” Mr. Li continued.

“We believe that our consumer brands are among the best available and are bullish on the resurgence of consumer retail spending in China. We remain confident about our execution capabilities across all of our platforms as well as our ability to create long-term value for our shareholders.” Mr. Li concluded.

1 “Total VIP members refers to the total number of members registered on Jowell’s platform as of June 30, 2023.

2 LHH stores: the brand name of “Love Home Store”. Authorized retailers may operate as independent stores or store-in-shop (an integrated store), selling products they purchased through Jowell’s online platform LHH Mall under their retailer accounts which provides them with major discounts.

First Half 2023 Financial Results

Total Revenues

Total revenues for the first half 2023 were $84.4 million, representing a decrease of 15.9% from $100.4 million in the same period of 2022, primarily due to a decrease in the weighted average unit price of our products sold and a decrease in our sales volume. Our weighted average unit price was $4.95 per unit for the first half of 2023, which represented a decrease of 12.5% as compared to $5.66 per unit for the same period of 2022. Health and nutritional supplements products led the decline in weighted average unit pricing, with a period-over-period decrease of 68.8% due to product mix change. The decrease in the volume of products sold was mainly due to the overall market downturn which resulted in a decline in consumer spending as compared to the same period of 2022. The volume of Health and nutritional supplements declined the most, with a period-over-period decrease of 15.4%.

Our household products revenue for the first half 2023 increased by about $17.4 million or 56.1% as compared to the same period of 2022. The increase in home products revenue was mainly due to the increase in sales of premium brand home appliances and kitchenware products. We have stepped up our promotions on these items during holidays in the first half of 2023 in an attempt to offer more promotional discounts in response to the overall market downturn.

First Half Ended June 30

%

2023

2022

change

Revenues (in thousands, except for percentages)

US$

US$

YoY*

Product sales

  – Cosmetic products

29,495.5

46,135.7

-36.1

%

  – Health and nutritional supplements

6,094.2

23,048.1

-73.6

%

  – Household products

48,473.1

31,053.2

56.1

%

  – Others

343.4

170.0

102.0

%

Total

84,406.2

100,407.0

-15.9

%

*

YOY—year over year

Total cost and operating expenses were $91.0 million in the first half of 2023, a decrease of 16.5% from $108.9 million in the same period of 2022.

  • Costs of revenues were $83.8 million in the first half of 2023, a decrease of 13.2% from $96.5 million in the same period of 2022, which including a decrease of $16.3 million in cosmetic products and $16.1 million in health and nutritional supplements and partially offset by an increase of $19.7 million in household products. The decrease is attributable to a decrease in the weighted average unit cost and a decrease in sales volume of cosmetic products and health and nutritional supplements. The weighted average unit cost of cosmetic products decreased from $4.45 in the first half of 2022 to $2.94 in the first half of 2023, and weighted average unit cost of health and nutritional supplements decreased from $14.05 in the first half of 2022 to $4.42 in the first half of 2023, a decrease of 68.5%, both decreases mainly due to reduced customers discretionary spendings on premium brands and their preference to low cost and low price as well as necessary household products as compared to the same period of 2022. The health and nutritional supplements sales volume declined the most, with a decrease of 15.4%.
     
    Cost of revenues of household products for the first half 2023 increased about 67.0% as compared to the same period of 2022. The increase was primarily due to a 71.0% increase in weighted average unit cost. The increase in weighted average unit costs for our household products is mainly because we offered and sold more higher unit price products in the first half 2023 than the same period of 2022.
     
  • Fulfillment expenses primarily consist of costs related to order fulfillment, including expenses paid for order preparing, packaging, outbound freight, and physical storage. Fulfillment expenses were $1.9 million in the first half of 2023, an increase of 10.9% from the $1.8 million in the same period of 2022. Fulfillment expenses as a percentage of total revenues were 2.3% in the first half of 2023, up from 1.7% in the first half of 2022. The increase was mainly due to an increase in warehouse rent by 78.6% or $0.3 million as the Company expanded its temporary storage space for new variety of household products at the beginning of 2023 to meet the demands of our customers.
     
  • Marketing expenses primarily consist of targeted online advertising, and payroll and related expenses for personnel engaged in marketing and selling activities. Marketing expenses were $3.3 million in the first half of 2023, a decrease of 46.7% from the $6.2 million in the same period of 2022. The decrease was primarily due to a decrease in our marketing and promotion activities. Marketing expense as percentage of total revenues was 3.9% in the first half of 2023, down from 6.2% in the same period of 2022.
     
  • General and administrative expenses mainly consist of payroll, depreciation, office supplies and upkeep. General expenses and administration expenses were $2.0 million in the first half of 2023, a decrease of 55.6% from $4.5 million in the same period of 2022. The decrease was primarily due to a $0.9 million decrease in bad debt expense and $1.0 million decreased in share-based compensation of services provided. General and administration expenses as percentage of total revenues was 2.3% in the first half of 2023, down from 4.4% in the same period of 2022.

Operating Loss

Operating loss was $6.6 million, compared with an operating loss of $8.5 million in the same period of 2022, which was mainly due the overall market downturn, which resulted in a decline in consumer spending, as mentioned above.

Net Loss

Net loss was $7.1 million, a decrease of 11.4% compared with net loss of $8.0 million in the same period of 2022, which was mainly due the overall market downturn, which resulted in a decline in consumer spending, as mentioned above.

Loss per Share

The Company computes earnings (loss) per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). Each of the Company’s Preferred Share has voting rights equal to two Ordinary Shares of the Company and each Preferred Share is convertible into one Ordinary Share at any time. Except for voting rights and conversion rights, the Ordinary Shares and the Preferred Shares rank pari passu with one another and have the same rights, preferences, privileges and restrictions. For the first half ended June 30, 2023 and 2022, respectively, the Company had no potential ordinary shares outstanding that could potentially dilute EPS in the future.

Cash and Cash Equivalents

For the first half of 2023, the Company reported a net loss of $7.1 million, a negative operating cash flow of $9.9 million and an accumulated deficit of approximately $21.7 million. The Company’s principal sources of liquidity are proceeds from its public offering, a private placement and a registered direct offering. As of June 30, 2023, the Company had cash and restricted cash of approximately $2.0 million, held by the variable interest entity (VIE) Shanghai Juhao Information Technology Co., Ltd. (“Shanghai Juhao”) with banks and financial institutions inside China as the Company conducts its operations primarily through the consolidated VIE in China; the Company’s working capital as of June 30, 2023 was $21.1 million. Due to the uncertainty of the current market environment, management believes it is necessary to enhance the collection of its outstanding accounts receivable and other receivables, and to be cautious in terms of its operational decisions and project selections. As of October 31, 2023, approximately $2.9 million, or 66%, of its accounts receivable balance as of June 30, 2023 were collected, approximately $3.0 million or 100% of its due from affiliate balance as of June 30, 2023 were collected, and approximately $2.1 million or 52% of its advances to supplier balance as of June 30, 2023 were utilized. In addition, the Company’s Form F-3 registration was declared effective on August 31, 2022, and the Company may also seek equity financing from outside investors if necessary.

Based on the latest business plan of the Company, Shanghai Juhao has reduced its promotion efforts and marketing expenditures since the second half of 2022, which reduced the cash used in operating activities. Management believes that the above-mentioned factors, including cash on hand of approximately $2.0 million, will provide sufficient liquidity for the Company to meet its future liquidity and capital requirements for at least the next twelve months.

About Jowell Global Ltd

Jowell Global Ltd. (the “Company”) is one of the leading cosmetics, health and nutritional supplements and household products e-commerce platforms in China. We offer our own brand products to customers and also sell and distribute health and nutritional supplements, cosmetic products and certain household products from other companies on our platform. In addition, we allow third parties to open their own stores on our platform for a service fee based upon sale revenues generated from their online stores and we provide them with our unique and valuable information about market needs, enabling them to better manage their sales effort, as well as an effective platform to promote their brands. The Company also sells its products through authorized retail stores all across China, which operate under the brand names of “Love Home Store” or “LHH Store” and “Best Choice Store”. For more information, please visit http://ir.1juhao.com/.

Exchange Rate

The Company’s financial information is presented in U.S. dollars (“USD”). The functional currency of the Company is the Chinese Yuan, Renminbi (“RMB”), the currency of the PRC. Any transactions which are denominated in currencies other than RMB are translated into RMB at the exchange rate quoted by the People’s Bank of China prevailing at the dates of the transactions, and exchange gains and losses are included in the statements of operations as foreign currency transaction gain or loss. The consolidated financial statements of the Company have been translated into U.S. dollars in accordance with ASC 830, “Foreign Currency Matters”.

This press release contains translations of certain RMB amounts into U.S. dollars (“USD” or “$”) at specified rates solely for the convenience of the reader. The exchange rates in effect as of June 30, 2023 and December 31, 2022 were RMB1 for $0.1378 and $0.1450, respectively. The average exchange rates for the six months ended June 30, 2023 and 2022 were RMB1 for $0.1444 and $0.1543, respectively.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to uncertainties and risks 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; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For investor and media inquiries, please contact:

Jowell Global Ltd.
Ms. Jessie Zhao
Email: IR@1juhao.com 

Jowell Global Ltd.

CONDENSED CONSOLIDATED BALANCE SHEETS

June 30,

December 31,

2023

2022

(Unaudited)

ASSETS

Current Assets:

Cash

$

1,983,830

$

13,718,102

Restricted cash

–

3,000,000

Accounts receivable, net

4,308,925

6,208,606

Accounts receivable – related parties

31,098

285,530

Advance to suppliers

3,782,626

21,742,495

Advance to suppliers – related parties

172,528

–

Inventories

17,179,507

13,278,205

Due from affiliate

3,032,141

–

Prepaid expenses and other current assets

1,854,645

1,668,775

Total current assets

32,345,300

59,901,713

Long-term investment

3,774,477

4,454,993

Property and equipment, net

808,801

1,019,720

Intangible assets, net

718,830

855,112

Right of use lease assets, net

2,601,351

3,389,536

Other non-current asset

874,429

919,720

Deferred tax assets

629,108

661,692

Total Assets

$

41,752,296

$

71,202,486

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:

Short-term loan

$

620,211

$

2,464,375

Accounts payable

5,793,828

6,331,437

Accounts payable – related parties

277,486

1,806,352

Deferred revenue

2,372,970

18,395,244

Deferred revenue – related parties

81,688

74,088

Current portion of operating lease liabilities

1,012,176

1,179,237

Accrued expenses and other liabilities

640,477

1,105,241

Due to related parties

377,856

178,816

Taxes payable

109,817

102,359

Total current liabilities

11,286,509

31,637,149

Non-current portion of operating lease liabilities

1,484,085

2,099,430

Total liabilities

12,770,594

33,736,579

Commitments and contingencies

Equity

Common stock, $0.0016 par value, 450,000,000 shares authorized, 2,135,879 and
   2,132,785 issued and outstanding at June 30, 2023 and December 31, 2022,
   respectively *

3,418

3,413

Preferred stock, $0.0016 par value, 50,000,000 shares authorized, 46,875 issued and
   outstanding at June 30, 2023 and December 31, 2022, respectively *

75

75

Additional paid-in capital

52,687,237

52,557,552

Statutory reserves

394,541

394,541

Accumulated deficit

(21,662,306)

(14,572,425)

Accumulated other comprehensive loss

(2,485,202)

(950,720)

Total Jowell Global Ltd. Stockholders’ Equity

28,937,763

37,432,436

Noncontrolling interest

43,939

33,471

Total Equity

28,981,702

37,465,907

Total Liabilities and Equity

$

41,752,296

$

71,202,486

* On October 25, 2023, the Company consolidated its ordinary shares at the ratio of one-for-sixteen (“Share Consolidation”). Immediately following the Share Consolidation, the Company increased the authorized share capital to $800,000 divided into shares of which (i) 450,000,000 shares are designated as ordinary shares with a nominal or par value of $0.0016 per share, and (ii) 50,000,000 shares are designated as preferred shares with a nominal or par value of $0.0016 per share. All shares and per share data for all the periods presented have been retroactively restated.

Jowell Global Ltd.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

For the Six Months
Ended June 30,

2023

2022

Net Revenues

$

84,406,244

$

100,407,042

Cost and Operating Expenses:

Cost of revenues

(83,763,353)

(96,499,119)

Fulfillment expenses

(1,942,595)

(1,751,330)

Marketing expenses

(3,306,812)

(6,209,824)

General and administrative expenses

(1,981,967)

(4,463,950)

Total cost and operating expenses

(90,994,727)

(108,924,223)

Loss From Operations

(6,588,483)

(8,517,181)

Other Income (Expenses), net

Interest expense

(39,388)

(60,013)

Investment income (loss)

(483,214)

172,416

Other income (expense), net

(2,118)

58,780

Other Income (expenses), net

(524,720)

171,183

Loss Before Income Taxes

(7,113,203)

(8,345,998)

Provision (Benefit) for Income Taxes

2,761

(311,028)

Net Loss

(7,115,964)

(8,034,970)

Less: net loss attributable to noncontrolling interest

(26,083)

–

Net Loss Attributable to Ordinary Shareholders of Jowell Global Ltd.

$

(7,089,881)

$

(8,034,970)

Loss Per share – Basic and Diluted

$

(3.33)

$

(4.87)

Weighted Average Shares Outstanding – Basic and diluted*

2,135,574

1,650,279

Net Loss

$

(7,115,964)

$

(8,034,970)

Other Comprehensive Loss, net of tax

Foreign currency translation loss

(1,534,036)

(1,597,147)

Total Comprehensive Loss

(8,650,000)

(9,632,117)

Less: comprehensive income attributable to non-controlling interest

(25,637)

–

Comprehensive Loss Attributable to Ordinary Shareholders of Jowell Global
Ltd.

$

(8,624,363)

$

(9,632,117)

* On October 25, 2023, the Company consolidated its ordinary shares at the ratio of one-for-sixteen (“Share Consolidation”). Immediately following the Share Consolidation, the Company increased the authorized share capital to $800,000 divided into shares of which (i) 450,000,000 shares are designated as ordinary shares with a nominal or par value of $0.0016 per share, and (ii) 50,000,000 shares are designated as preferred shares with a nominal or par value of $0.0016 per share. All shares and per share data for all the periods presented have been retroactively restated.

Jowell Global Ltd.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

FOR THE SIX MONTHS ENDED JUNE 30, 2023 AND 2022

(Unaudited)

Common Stock*

Preferred Stock*

Additional
Paid-in

Statutory

Retained
Earnings
(Accumulated

Accumulated
Other
Comprehensive

Total Jowell
Global Ltd.
Stockholders’

Noncontrolling

Total 

Shares

Amount

Shares

Amount

Capital

Reserves

deficit)

Income (loss)

Equity

interest

Equity

Balance at
   January 1,
   2022

1,604,873

2,568

46,875

$

75

40,827,231

$

394,541

(3,036,045)

1,495,081

39,683,451

39,683,451

Private
 placements
 issuance

326,875

523

–

–

6,275,477

–

–

–

6,276,000

–

6,276,000

Share-based
 compensation

34,390

55

–

–

1,157,925

–

–

–

1,157,980

–

1,157,980

Net loss for
 the period

–

–

–

–

–

–

(8,034,970)

–

(8,034,970)

–

(8,034,970)

Foreign
 currency
 translation
 loss

–

–

–

–

–

–

–

(1,597,147)

(1,597,147)

–

(1,597,147)

Balance at
   June 30,
   2022

1,966,138

3,146

46,875

$

75

48,260,633

$

394,541

(11,071,015)

(102,066)

37,485,314

–

37,485,314

Balance at
   January 1,
   2023

2,132,785

3,413

46,875

$

75

52,557,552

$

394,541

(14,572,425)

(950,720)

37,432,436

33,471

37,465,907

Share-based
 compensation

3,094

5

–

–

129,685

–

–

–

129,690

–

129,690

Capital
 contributed
 by minority
 shareholder

–

–

–

–

–

–

–

–

–

36,105

36,105

Net loss for
 the period

–

–

–

–

–

–

(7,089,881)

–

(7,089,881)

(26,083)

(7,115,964)

Foreign
 currency
 translation
 loss

–

–

–

–

–

–

–

(1,534,482)

(1,534,482)

446

(1,534,036)

Balance at
   June 30,
   2023

2,135,879

3,418

46,875

$

75

52,687,237

$

394,541

(21,662,306)

(2,485,202)

28,937,763

43,939

28,981,702

* On October 25, 2023, the Company consolidated its ordinary shares at the ratio of one-for-sixteen (“Share Consolidation”). Immediately following the Share Consolidation, the Company increased the authorized share capital to $800,000 divided into shares of which (i) 450,000,000 shares are designated as ordinary shares with a nominal or par value of $0.0016 per share, and (ii) 50,000,000 shares are designated as preferred shares with a nominal or par value of $0.0016 per share. All shares and per share data for all the periods presented have been retroactively restated.

Jowell Global Ltd.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

For the Six Months
Ended June 30,

2023

2022

Cash flows from operating activities:

Net loss

$

(7,115,964)

$

(8,034,970)

Adjustments to reconcile net loss to net cash provided by (used in) operating
activities:

Depreciation and amortization

202,822

195,420

Loss (income) from long-term investment

483,214

(172,416)

Credit loss for doubtful accounts

–

906,484

Amortization of operating lease right-of-use assets

552,702

663,044

Inventory reserve

–

337,630

Deferred income taxes

–

(311,028)

Share-based compensation

129,690

1,157,980

Changes in operating assets and liabilities:

Accounts receivables

1,670,275

(442,472)

Accounts receivable – related Parties

251,882

193,809

Inventories

(4,785,784)

(1,731,202)

Advance to suppliers

17,698,012

(1,155,484)

Advance to suppliers – related parties

(180,791)

(10,228,261)

Prepaid expenses and other current assets

(280,888)

36,012

Accounts payables

(236,633)

2,633,562

Accounts payables – related parties

(1,508,872)

(2,186,368)

Deferred revenue

(15,828,565)

2,107,320

Operating lease liabilities

(552,367)

(678,538)

Taxes payable

13,098

330,050

Accrued expenses and other liabilities

(429,988)

192,449

Net cash used in operating activities

(9,918,157)

(16,186,979)

Cash flows from investing activities:

Due from affiliate

(3,177,354)

–

Purchase of intangible assets

(4,950)

–

Disposal of equipment

81,469

–

Purchase of equipment

(12,260)

(686,560)

Net cash used in investing activities

(3,113,095)

(686,560)

Cash flows from financing activities:

Private placements issuance

–

6,276,000

Proceeds from short-term loans

649,913

–

Repayment of short-term loans

(2,455,228)

–

Proceeds from related party loans

205,846

48,372

Net cash provided by (used in) financing activities

(1,599,469)

6,324,372

Effect of exchange rate changes on cash and restricted cash

(103,551)

(405,752)

Net decrease in cash and restricted cash

(14,734,272)

(10,954,919)

Cash and restricted cash, beginning of period

16,718,102

21,249,727

Cash and restricted cash, end of period

$

1,983,830

$

10,294,808

Reconciliation of cash and restricted cash to the consolidated balance sheets

Cash

1,983,830

7,294,808

Restricted cash

–

3,000,000

Total cash and restricted cash

$

1,983,830

$

10,294,808

Supplemental disclosure information:

Cash paid for income tax

$

2,761

$

–

Cash paid for interest

$

39,388

$

60,013

Supplemental non-cash activities:

Cash paid in prior year for purchase of intangible assets

$

–

$

794,010

Right of use assets obtained in exchange for operating lease obligations

$

(98,320)

$

35,341

Source: Jowell Global Ltd.

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Chipsea Technologies (Shenzhen) Co., Ltd., a “new player” in the global PC industry chain, has once again been awarded an Intel Platform Component List (PCL) certification, for its new EC product E2010

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SHENZHEN, China, Nov. 25, 2023 /PRNewswire/ — Recently, China’s A-share listed company Chipsea Technologies (stock code: 688595) has seen its new generation EC chip CSCE2010 successfully passed Intel PCL (Platform Component List) certification, turning it into the world’s first EC product to meet the advanced process requirements of Intel MTL. Over the past two years, Chipsea Technologies has successively launched two 32-bit high-performance EC chips, namely the product CSC2E101 (E2101) for the commercial PC market and the product CSCE2010 for the consumer PC market. Both of them have met Intel PCL certification, fully demonstrating the company’s rich technological accumulation and strong innovation power in EC field, and have achieved the company’s breakthroughs both in technology and business circles. Chipsea Technologies is rapidly establishing itself as a dynamic and innovative force in the global PC industry. Through a series of forward-looking product innovations, the company has kicked off multiple products such as EC, PD, USB Hub, HapticPad® solutions, and BMS (battery management system), and signed a cooperation memorandum and established a good cooperative relationship with Intel. Looking  ahead, Chipsea is planning to build a global supply system to provide global and diversified supply guarantees and offer customers with more competitive products.

Established 20 years ago, Chipsea Technologies is an integrated circuit design company that integrates sensing, computing, control and connection. The company has rich technical accumulation in the fields of analog signal chain and MCU (microprogrammed control unit), and has become a global leader in the fields of pressure touch and health measurement chips. The company debuted on China’s A-share market in 2020, and has become “China’s first stock in the field of signal chain chip.”

new EC product E2010
new EC product E2010

Currently, Chipsea Technologies is on a fast development track, with its products and businesses spanning multiple market segments such as automotive electronics, computers and communications, BMS (battery management system), industrial measurement and control, health measurement, and AIoT (AI + IoT). Meanwhile, Chipsea Technologies has built a total quality management (TQM) system that can meet international standards such as ISO9001, GB/T29490, ISO27001, ISO26262, IATF16949, covering the full-lifecycle quality management of products from chip definition to design, through manufacturing and package testing, to final mass production and delivery, to ensure high reliability, high performance and high quality of products, and bring more novel ideas and surprising experiences to customers around the world. Chipsea’s commitment to reliability, performance, and quality not only meets but exceeds global benchmarks, fostering innovative and enriching experiences for customers worldwide.

Contact: sales@chipsea.com; lutt@chipsea.com 

www.chipsea.com

Source: Chipsea Technologies (Shenzhen) Corp.

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Chengdu showcases technological strength at high-tech expo

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CHENGDU, China, Nov. 24, 2023 /PRNewswire/ — Chengdu, capital of Southwest China’s Sichuan province, demonstrated its strength in sci-tech innovation at the 11th China (Mianyang) Science and Technology City International High-Tech Expo, which kicked off on Wednesday in Mianyang, Sichuan province.

Chengdu showcases technological strength at the 11th China (Mianyang) Science and Technology City International High-Tech Expo.
Chengdu showcases technological strength at the 11th China (Mianyang) Science and Technology City International High-Tech Expo.

Co-sponsored by the Ministry of Science and Technology and the Sichuan provincial government, the expo covers a total exhibition area of 40,000 square meters, with over 300 participating companies and more than 3,000 exhibits.

Scientific research institutions and innovative enterprises based in Chengdu brought over 30 leading technological achievements to this year’s expo, according to Chengdu science and technology bureau.

Zou Sifei, a staff member of the Tianfu Xinglong Lake Laboratory, one of the key laboratories under Sichuan’s Tianfu Laboratories plan, said his laboratory has conducted in-depth research into revolutionary optoelectronic materials, optoelectronic devices and optoelectronic systems, and has been promoting the transformation of its research achievements.

The laboratory displayed its latest achievements in scientific research transformation at the expo in fields including information metamaterials and wireless communication, material photonics, and advanced optical devices, he said.

He Weizhi, an executive at Tsinghua Sichuan Energy Internet Research Institute, said the institute holds more than 560 invention patents and is facilitating the transformation of technological achievements to empower regional economic development.

The institute demonstrated a number of products which have been transformed from its technological achievements, including a “Floating-Crawling” dual-mode underwater inspection robot and a miniature intelligent electric current sensor.

“In addition to showcasing our technological prowess at the expo, we also hope to attract more versatile talents to join our institute for further studies,” he said.

Xu Huawei, an executive at Sichuan Tengden Sci-tech Innovation Co Ltd, said the expo showcases cutting-edge achievements from home and abroad, creating a plethora of growth prospects and collaborative opportunities to the company.

As a leading player in Chengdu in the field of industrial UAV, Tengden displayed the models of its self-developed UAVs, which can be widely used in fields including artificial rainmaking, emergency communication and forest fire inspection, Xu said.

Shi Da, sales engineer of Chengdu Jiujin Technologies Co Ltd, whose products are used in fields such as antenna testing, wireless communication and aerospace, said the expo gathers professionals from various industries, creating a perfect chance to promote the company’s image and products and to facilitate communication with partners.

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LG ELECTRONICS ANNOUNCES ORGANIZATIONAL RESTRUCTURING FOR FUTURE GROWTH

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Company Aims for Further Growth and Changes to Enhance Customer Value in Rapidly Changing Global Market

SEOUL, South Korea, Nov. 24, 2023 /PRNewswire/ — LG Electronics (LG) today announced organizational changes to take another leap forward towards achieving the Future Vision 2030 announced in July. The changes are being implemented to strengthen organizational capabilities and business competitiveness to realize the vision of transforming into a Smart Life Solution Company that connects and expands various spaces and experiences of customers beyond home appliances.

Logo of LG Electronics
Logo of LG Electronics

A key piece of the forward-thinking strategy is the newly-established Overseas Sales and Marketing Company, which will report directly to LG CEO William Cho. The company will be led by Thomas Yoon, who previously served as the president and CEO of LG Electronics North America.

The Overseas Sales and Marketing Company will play a crucial role in accelerating change and growth as well as enhancing LG’s global brand power by discovering and developing opportunities to create customer value. The new organization will manage overseas sales subsidiaries in North America, Europe, the Middle East and Africa, Latin America and Asia; Global Marketing Group; and the Direct-to-Consumer (D2C) Sales Business Group.

The company will not only seek to strengthen executive capabilities in the overseas operations of strategically critical businesses including B2B operations, but also provide necessary support to bolster qualitative growth of all other business units by aiding the development of overseas sales expertise as well as accelerating the advancement of platform-based businesses and innovative D2C business models. The D2C Business Sales Group will take on the role of expanding customer contact points by strengthening Online Brand Shop (OBS) activities and customer data-based digital marketing capabilities.

While maintaining its agile and responsive decision-making system across all four business units, LG will aim to spur further development of original technologies in each business unit and support the company’s business transformation.

The Home Appliance & Air Solution (H&A) Company will establish an engineering sales division under the Air Solution Business to enhance the engineering capabilities to maximize business synergy in heating, ventilation and air conditioning (HVAC), its core B2B business area. In addition, the Home Beauty Business will be transferred from the Home Entertainment Company to the H&A Company to create synergy with existing strong product lineups in ‘Home’ spaces.

The Home Entertainment (HE) Company is set to further accelerate its transition to become a media and entertainment powerhouse. To strengthen the smart TV operating system webOS, the webOS SW Development Group will be established for direct reporting to Park Hyoung-sei, president of the HE Company. Also, the eXtended Reality (XR) Business Division will be established directly under the headquarters.

Leading the company since 2019, president Park has been promoted in recognition of his contribution to upgrading the company’s business portfolio, improving profitability of premium product lineups and growing the webOS platform while solidifying the company’s position in the global OLED TV market.

The Vehicle component Solutions (VS) Company will set up the Global Customer Strategy Division directly under its headquarters to establish an integrated strategy for order and sales management and strengthen marketing functions to accelerate the growth of the business.

The Business Solutions (BS) Company will expand sales and business operations in major regions such as North America, Europe, the Middle East and Africa, Latin America and Asia. The current B2B India Business Department will be upgraded into the B2B India Business Division to maintain continuous growth in the country.  

All appointments are effective Dec. 1 with promotions going into effect on the first day of the new year.

About LG Electronics, Inc.

LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global revenue of over KRW 80 trillion in 2022. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, service robots, automotive components and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.

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INSE’s S9 Anti-Tangle Cordless Vacuum Achieves Remarkable Success on Amazon’s Fall Prime Day with Daily Sales Exceeding 10K Units

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SEATTLE, Nov. 24, 2023 /PRNewswire/ — INSE’s S9 Anti-Tangle Cordless Stick Vacuum has been welcomed by consumers with open arms and achieved smashing sales on Amazon’s Fall Prime Day with a staggering 10,000 units sold daily. This remarkable achievement can be attributed to the vacuum’s hassle-free anti-tangle “V” shaped roller brush, which solved the frustrating issue of tangled hair and changed the way to maintain our vacuums.

INSE's S9 Anti-Tangle Cordless Vacuum Achieves Remarkable Success on Amazon's Fall Prime Day with Daily Sales Exceeding 10K Units
INSE’s S9 Anti-Tangle Cordless Vacuum Achieves Remarkable Success on Amazon’s Fall Prime Day with Daily Sales Exceeding 10K Units

A Tangle-free Revolution

Vacuum users often struggle with interlaced hair around roller brushes, filters, and other parts of the machine, making cleaning routines cumbersome due to frequent trapped hair issues. But the problem was solved by INSE S9, which is equipped with a unique V-shaped rubber brush roll that efficiently collects debris and consolidates it in the middle, then sucks the debris and hair in. The S9’s unique brush roll design ensures that hair, be it from our pets or us, does not wrap around to eliminates tangles and prevent clogs, removing the need for constant cleaning and manual disassembly of the vacuum head and extend the lifetime of its brushless motor.

This unique feature allows consumers to enjoy an effortless and convenient cleaning experience, saving time, and eliminating the stress associated with tangled brush rolls. Besides that, INSE S9 is also equipped with a soft roller brush for hardwood floors to protect against scratches while also providing a polishing effect during vacuuming.

Consumers’ Convenience and Satisfaction Delivered

The INSE S9 cordless vacuum cleaner’s success is no surprise. It’s the combination of anti-tangle technology along with a powerful 400W brushless motor that provides remarkable suction power up to 30Kpa at maximum mode, ensuring optimal cleaning efficiency on any surface. Additionally, the S9 offers four suction modes, including Economy, Standard, Maximum, and Automatic, to cater to different cleaning needs. The Automatic mode intelligently adjusts suction power based on debris size, as detected by an infrared sensor, making it perfect for your cleaning needs and extending the runtime. Fitted with a sturdy, removable battery pack, the INSE S9 offers up to 55 minutes of continuous cleaning, making it perfect for both large areas and deep cleaning tasks.

The landmark sales of the S9 Anti-Tangle Cordless Vacuum during Amazon’s Fall Prime Day highlight the growing consumer demand for user-friendly cleaning solutions and INSE’s commitment to providing innovative and consumer needed-focused cleaning appliances.

INSE S9 Anti-Tangle Stick Vacuum is now on Amazon’s Black Friday Sale at the price of $149.98. If you would like more information on the INSE S9 Anti-Tangle Cordless Vacuum or other INSE products, please visit the INSE official website or INSE Amazon store.

Contact Information:
Company Name: INSE
Contact Name: Gillian G.
Email Address: pr@inselife.com
Website Link(s): www.inselife.com

About INSE

Founded in 2019, INSE is a cutting-edge technology company focused on the development and production of high-quality cleaning appliances. The INSE product development team boasts over a decade of experience in product research and development, having participated in designing and developing products for several well-known cleaning brands. The products they have designed and developed have sold more than 8 million units in total. As experts in this field, INSE’s mission is to provide the best cleaning experience for consumers at affordable prices, driving the cleaning industry forward with our innovative and cost-effective solutions.

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Global Times: BRI offers common development: officials from partner countries

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WENZHOU, China, Nov. 23, 2023 /PRNewswire/ — The China proposed Belt and Road Initiative (BRI) has brought the vision of “heart connectivity” to reality, and it is a path to common development, multiple ambassadors and officials from BRI partner countries said on Wednesday during a roundtable held in Fuzhou, East China’s Fujian Province.

BRI offers common development: officials from partner countries
BRI offers common development: officials from partner countries

“The BRI has brought changes in the mind of the world,” said Bishnu Pukar Shrestha, Ambassador of Nepal to China, noting that the initiative focuses on connectivity, not only in transportation, but also in minds and hearts.

“This vision and concept have now become possible to access,” Shrestha continued. Nepal has benefited a lot from the BRI, and there are different projects that have been completed in Nepal, including railways and roads, which have energized bilateral cooperation and allowed the country to continue to develop, he said.

Shrestha made the remarks during a roundtable on the Belt and Road Global Chambers of Commerce and Association Conference, which is the world’s first international cooperation and exchange platform with chambers of commerce, industry associations and other social organizations as the main participants. The conference, which is held annually, aims to harness the resources of chambers of commerce as the BRI cooperation advances, and to explore new international cooperation opportunities.

“The BRI gives an opportunity to the world that is connected now, and the potential for the initiative is unlimited,” Awale Ali Kullane, Somali Ambassador to China, said during the roundtable, noting that the COVID-19 pandemic has delayed the process, but it has also shown the importance of such a global initiative.

Kadirkamu Kandasamy Yoganaadan, chargé d’affaires of Sri Lanka’s Embassy in China, enumerated a number of infrastructure construction projects under the BRI including ports, airports and expressways. Taking the Colombo Port project as an example, Yoganaadan said that it is being built with the modern sustainable design and smart city concept, providing investment opportunities in the IT industry, financial services and shipping logistics.

Ahmed Chouaib, chargé d’affaires of the Mission of the League of Arab States in Beijing, said that Arab countries participating in the BRI are demonstrating a high degree of engagement with China. This initiative represents the power of international cooperation, a power of interconnectivity that crosses national and ethnic boundaries. 

Chouaib noted that strengthening people-to-people communication between China and Arab countries has also become an integral part of the BRI, and cultural, tourism and artistic cooperation have all emerged.

The BRI is a symbol of unity between China and Arab countries. As well as building roads and bridges, it can also create more interconnected, prosperous and harmonious cooperation, said Chouaib.

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ValueLabs Emerges as a Trailblazer in the Generative AI Space, Wins Prestigious Stevie International Business Awards® 2023

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HYDERABAD, India, Nov. 23, 2023 /PRNewswire/ — ValueLabs, a leading technology solutions provider, is celebrating the success of AiDE™, their proprietary enterprise Generative AI platform, with multiple awards at the Stevie International Business Awards® 2023.

AiDE™ empowers enterprises to leverage the potential of Generative AI in a secure manner, at scale, enabling them to drive productivity, process efficiency, customer experience, and loyalty and even redesign their business models – increasing their revenue and bottom line.

AiDE™ solutions cover product, design, development, quality engineering, analytics, security, and support needs. Three solutions, viz. AiDE SDLC™, AiDE xPerience™, and AiDE Chat™ were recognized at the Stevie International Business Awards® 2023:

  1. AiDE SDLC™, an enterprise Generative AI platform transforming product design and development processes, was conferred the Gold Stevie for ‘Technical Innovation of the Year’ among organizations with 1,000 or more employees.
  2. AiDE xPerience™, an industry-first conversational website and mobile UX platform, won the Gold Stevie for ‘Innovation of the Year’ within the Business Service Industries category.
  3. AiDE Chat™, an intuitive conversational AI text and voice assistant, secured the Bronze Stevie for ‘Customer Service Solution,’ owing to its unique business process reengineering capabilities.

In addition, ValueLabs received the Silver Stevie award for the ‘Most Innovative Tech Company of the Year – More Than 2,500 Employees’.

“Our approach to Generative AI, or any transformative technology for that matter, has always been to figure out how it improves the business goals of our clients. The main thing we want to accomplish with AiDE™ is to build high-quality custom solutions rapidly, at scale, and with the right security. The awards from Stevie validate the path we’re on and the approach we’ve taken to Generative AI so far. A lot of exciting stuff in the pipeline,” said Veda Reddy, CEO of Imagine, ValueLabs’ innovation arm.

Particularly impressed by ValueLabs’ thought leadership and approach towards Generative AI, almost all the existing clients at ValueLabs felt that the solutions built using AiDE™ are set to propel them to the forefront of technological advancements within their industry.

“Some of the custom solutions we’ve built for clients this year are stunning! We’re building this out into a platform offering so all our clients and prospects can leverage our components and capabilities in a plug-and-play manner,” said Arjun Rao, Founder and CEO at ValueLabs.

About ValueLabs

ValueLabs is a leading global IT services & solutions provider with a strong focus on enabling clients to achieve faster time to market, improve quality, and optimize costs through next-generation Product Development, UX, Automation, and Analytics – powered by AiDE™. Over the last 26 years, the company has expanded to 28 locations, 7,000 associates, and 300 clients worldwide. Their focus on employees and clients has resulted in industry-leading Net Promoter Scores (NPS) of over 80 and 90, respectively. To learn more, visit www.valuelabs.com.

For more details, contact: Veda Reddy, https://www.valuelabs.com/business-form/ 

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What Laser Engraver Enthusiasts Can Expect This November at Monport Laser Black Friday

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CHICAGO, Nov. 22, 2023 /PRNewswire/ — Monport Laser is excited to announce its highly anticipated Black Friday and Cyber Monday Events. From today to November 30th, grab unbeatable prices on top-of-the-line laser engravers and cutters.

To ensure a seamless shopping experience, Monport has created a dedicated Black Friday laser engraver landing page on its website. This user-friendly platform will showcase the full extent of discounts and promotions available throughout the sale period. Customers are urged to mark their calendars and visit the Monport website to explore the extensive range of products on offer.

The Big Surprise Of This Event – Free Design Files For Every Order

Get ready for an exciting surprise at Monport Laser’s Black Friday and Cyber Monday Events! As part of this incredible event, they are offering a big surprise – 7 free design files for every order. These files are added automatically at the checkout and include a wide variety of designs in categories such as woodwork, festival decor, toys, and more. With every order, you not only get a top-of-the-line laser engraver or cutter but also access to these amazing design files to enhance your crafting projects.

How Design Files Improve Laser Engraving Experience

Design files play a crucial role in laser engraving as they provide ready-to-use artwork or templates that can be engraved onto various materials. They save time and effort by eliminating the need to create designs from scratch. Instead, users can simply import the design files into their laser engraving software and start the engraving process.

When it comes to laser engraving for DIY Christmas crafts, having a design file like the “Merry Christmas Display – File for DIY Christmas Craft” can greatly enhance your projects. This particular file might feature festive holiday-themed elements such as Christmas trees, snowflakes, or reindeer, allowing you to create stunning decorations, ornaments, or gift items.

The SVG format mentioned in the file name stands for Scalable Vector Graphics, a widely supported file format that preserves the quality and flexibility of the design. SVG files are particularly suitable for laser engraving because they allow for precise scaling and resizing without compromising the image quality. Whether you’re engraving on wood, acrylic, glass, or other materials, having access to a diverse collection of design files expands your creative possibilities.

Black Friday Special: Monport ONYX 55W Desktop CO2 Laser Cutter – Save $600 and Get a $200 Gift Card

During Black Friday, the Monport ONYX 55W Desktop CO2 Laser Cutter is available at an amazing discount. Originally priced at $2,999.99, it now has a discount of $600, bringing the price down to $2,399.99. But that’s not all! By taking advantage of an additional discount of $200 when you spend $2,000 or more, the final price at checkout is an incredible $2,199.99.

And there’s more! With this purchase, you also receive a gift card worth $200, adding even more value to your investment. This gift card can be used towards accessories, materials, or any other laser cutting needs you may have.

The Monport ONYX 55W Desktop CO2 Laser Cutter with Upgraded Rotary Axis is a powerful and versatile machine. With its 55W laser tube, it can cut materials like plywood and acrylic in just one pass. It also has an upgraded rotary axis for engraving on cylindrical objects. The machine comes with a 5MP camera, LightBurn software, and safety features like an enclosed design and smoke evacuation system. With US-based support and service, it is a reliable choice for both hobbyists and commercial applications.

Get ready to win big with the Monport Lucky Draw

Customers who make a purchase between November 7th and November 30th will have the opportunity to participate in the Monport Lucky Draw and potentially win big. During a live YouTube broadcast, five lucky customers will be randomly selected and given the chance to receive half of their payment amount returned to their payment account. This exciting lucky draw adds an element of thrill and excitement to the Black Friday sale, providing customers with the opportunity to maximize their savings. Additionally, during the live broadcast, ten customers will be randomly selected to receive consumables as a gift. Make sure not to miss out on this fantastic chance to participate in the Monport Lucky Draw and increase your chances of winning during your Black Friday shopping.

Click here to visit the Monport BFCM Event page to learn more and take advantage of these unbeatable offers.

Company: Monport Laser
Contact email: official@monportlaser.com
Pre-sales Phone: (+1)332-251-1208
Monport Laser Website: https://monportlaser.com/
Monport Address: Monport Tech Inc. 300 LENORA ST 878, SEATTLE, WA, 98121-2411, UNITED STATES

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SINGAPORE’S NOZAMA TEAM EMERGES CHAMPION IN HUAWEI DEVELOPER COMPETITION 2023 UNDER ASIA PACIFIC REGION CATEGORY

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 DONGGUAN, China, Nov. 22, 2023 /PRNewswire/ — The 2023 edition of the Huawei Developer Competition, which attracted more than 19,000 developers and 3,000 teams from more than 30 countries and regions, came to its finale on November 19, 2023.

Themed “Spark Infinity”, the event’s Finals and Awards Ceremony were wrapped up successfully at Huawei’s Songshan Lake in Dongguan, Guangdong province, China.

For Asia Pacific, the five-month long competition, which focus on cloud foundation segment, attracted 136 teams from 12 countries and regions with a 116 entries submitted.

After rigorous selection, three teams from Singapore successfully made it to the Top 9 in the Huawei Developer Competition Asia-Pacific Region segment, while the rest were from Malaysia (two teams) and one apiece from Hong Kong, mainland China, Indonesia, Thailand and the Philippines.

The nine teams pitched their solutions at the final round held in Songshan Lake.

Kang Ning, President of Huawei Cloud Ecosystem
Kang Ning, President of Huawei Cloud Ecosystem

Kang Ning, President of Huawei Cloud Ecosystem, said in his speech: “The global digital economy is thriving, with foundational models emerging that are reshaping the industry. Developers, who are at the heart of this ecosystem, are also experiencing unprecedented opportunities. Huawei stands ready to collaborate with developers to explore the realms of multi-architecture computing, AI, and cloud native technologies, paving the way for a digital future.”

Singapore’s Nozama, comprising Cedric Khua, Daren Tan, Daniel Choo and Glenda Teo emerged the grand winner and took home US$10,000 with their entry “Magik” that targeted children’s development through play.

Grand prize winner - team Nozama from Singapore
Grand prize winner – team Nozama from Singapore

“Kids need play. But when busy parents choose to rely on electronic devices to provide entertainment for their children, it leads to adverse effects such as a decreased attention span, addiction, overstimulation, and a lack of motor skills and problem solving skills,” the team said in their presentation.

According to Nozama, their Magik bridges the gap between physical toys and digital ones by offering a hybrid play experience, combining the benefits of both mediums of play to provide engaging and fun filled games for children.

The first runner-up and prize money of US$5,000 went to Thailand’s Netizen team which focused on the surge in food delivery services that has led to a complex accounting process for businesses to reconcile revenue received.

Their “Reconcile Process Automation” solution allows accounting departments to check the reconciled balance, and executives can see the daily sales summary of each branch the next day.

1st runner-up winners - Netizen from Thailand and DecentraRating from Singapore
1st runner-up winners – Netizen from Thailand and DecentraRating from Singapore

Singapore’s DecentraRating team also win the first runner-up prizes with their solution on addressing fake reviews and malicious content on E-commerce platforms.

In his speech, Andy Jin Hui, Huawei Cloud APAC Vice President and Head of Marketing and Industry Development, said the Huawei Developer Competition is a global initiative opened for global developers aimed at promoting technological achievements, identifying outstanding projects and applications, and building an open, thriving developer ecosystem with the cloud as its foundation.

“Many excellent projects unfortunately did not make it past the shortlisting rounds, but they still deserve our applause, and we welcome them to participate again next year,” said Mr Andy.

Mr Andy also proclaimed that in addition to the main programs, Huawei also organized two technical empowerment training sessions, answering over 100 questions raised by participants during the competition.

About 400 individuals participated in the competition, making it a tremendous achievement for garnering such a response from developers.

Throughout the competition, a plethora of interesting and community-based projects that could benefit from integration with various applications from Huawei were exhibited.

Among other projects that made it to the final round were Thailand’s entry on “Watchable Content in Native Language” that looks at the Soca’s AI platform that power’s seamless communication and creation across any language.

The CyberWhiz team from University Putra Malaysia on the other hand flaunted a transparent and friendly complaint lodge system for the public, highlighting the need for a system to report and complain about potholes and bad roads in the country.

City University of Hong Kong’s Laboratory for SMART Animal Management came out with an innovative AI-driven solution that revolutionizes livestock management.

Not only did the winning teams and individuals in the competition received accolades and prize money, Huawei also offered support through four major programs: Huawei Developer Program, Spark Program, HCDG, and HCSD.

At the award ceremony, Huawei also presented the Huawei Cloud Campus Ambassador Certificate to the Top 9 student team leaders in the competition.

Among the selected students were Cao Yuxuan (Nanyang Technological University of Singapore), Jet Maquiling, from STI College of Philippines , Cedric Khu Yan Han from National University of Singapore, Nidhi Mahejabeen Hossain from City University of Hong Kong and Muhammad Anas Mohd Marzuki from Universiti Putra Malaysia.

Huawei is committed to advancing the integration of software, hardware, edge, device, and cloud, as well as partnering with development ecosystems, increasing investment in R&D innovation, and collaborating with developers across different industries to drive global technological progress.

For more than 30 years, Huawei has been committed to technological innovation, making new breakthroughs and using technology to propel the world forward.

The Huawei Developers Competition provides huge opportunities for hundreds of ambitious developers to reach new heights and embrace the challenging world.

About HUAWEI CLOUD

HUAWEI CLOUD has been committed to building an open and win-win ecosystem with the cynosure placed on developers. Currently, HUAWEI CLOUD has more than five million global developers, more than 42,000 partners, and exceeding 10,000 cloud store SaaS applications. HUAWEI CLOUD has cooperated with more than 110 universities across the country to cultivate tens of thousands of professionals and have deeply integrated production, learning, research, and application, resulting in a far reaching and stable core technology ecosystem. In the era of rapid development of big models, HUAWEI CLOUD provides the Pangu big model R&D engineering suite for developers to build an open model community and big model cloud school, helping developers quickly develop big models. In the past, it took five months to complete an end-to-end development of a 100 billion parameters-large model. Now, with current cutting-edge AI cloud services and the large model development suite, the development preparation can be significantly diminished to just one month. HUAWEI CLOUD hopes that developers can build a prosperous ecosystem based on Huawei’s root technologies and leverage the computing power of the cloud and the powerful capabilities of the Pangu model.

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Emeren Announces Third Quarter 2023 Financial Results

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STAMFORD, Conn., Nov. 22, 2023 /PRNewswire/ — Emeren Group Ltd (“Emeren” or the “Company”) (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced its unaudited financial results for the third quarter ended September 30, 2023. Emeren’s third quarter 2023 financial results and management commentary can be found by accessing the Company’s shareholder letter on the quarterly results page of the Investor Relations section of Emeren Group Ltd’s website at https://ir.emeren.com/.

Emeren Group Ltd will host a conference call today to discuss the results. 

Conference Call Details

We will host a conference call today to discuss our third quarter 2023 business and financial results. The call is scheduled to begin at 5:00 p.m. U.S. Eastern Time on Tuesday, Nov 21, 2023.

Please register in advance to join the conference call using the link provided below and dial in 10 minutes before the call is scheduled to begin. Conference call access information will be provided upon registration.

Participant Online Registration:  
https://register.vevent.com/register/BI6944c83bc2164d9997e83efdf0f3e6ae

Audio-only Webcast:
https://edge.media-server.com/mmc/p/tm2gvazf

Additionally, an archived webcast of the conference call will be available on the Investor Relations section of Emeren Group Ltd’s website at https://ir.emeren.com/.

About Emeren Group Ltd
Emeren Group Ltd (NYSE: SOL) is a leading global solar project developer, owner, and operator with a pipeline of projects and IPP assets totaling over 3 GW, as well as a storage pipeline of over 10 GWh across Europe, North America, and Asia. The Company focuses on solar power project development, construction management and project financing services with local professional teams across multiple countries. For more information, go to www.emeren.com.