Tag Archives: MNG

Monport Laser Engraver, the Innovator Who Sets Off a Revolution inside the Woodworking Industry

NEW YORK, Sept. 24, 2023 /PRNewswire/ — Monport Laser is an enterprise specializing in the development and manufacture of laser engraving and cutting equipment. Recently, its CO2 series engraving machines come in a variety of versions to accommodate woodcarvers of varied depths. The practice of carving wood dates back to the late Neolithic period. After more than 10,000 years, it has emerged as an increasing number of extensively used. With the quick advancement of contemporary technology, Monport uses laser technology for cutting and engraving. After non-stop experiments on special woods, it has been placed into large-scale manufacturing and released at the market and has been preferred and favored with the aid of using many timber carvers.

Less Tools, Higher Efficiency

The customer’s initial impression of the Monport Laser engraving machine is that it is more efficient and uses fewer tools than traditional engraving methods. Wire saw, clamp again saw, electric powered saw, carving knife, wood file, etc., are all essential gear for engraving before. Now one engraving gadget and one software program are had to engrave or produce the preferred impact of the customer, and the wood’s edges will be smoother after carving.

Less Influence of Wood Bending

Wood warping is a trouble that all woodworkers stumble upon whilst carving or cutting. Due to the path of wooden fibers, one-of-a-kind angles will display one-of-a-kind traits of wood. Therefore, if you’re going to reduce the board into more than one small piece, or carve a sample with a greater complicated texture, the possibility of manual carving failure may be very high. Monport Laser engraving device makes use of laser engraving to resolve this trouble well.

Less Influence of Posture and Strength

The carver’s strength and posture are crucial when carving by hand or with a semi-automatic cutting device. Incorrect height or an excessive amount of pressure will compromise the engraving’s quality. This issue may be successfully avoided with the Monport Laser engraving machine. In addition to affecting the shaping impact, maintaining a posture for an extended period of time will surely result in pain or even illness in the body. The Monport Laser engraving machine would be a fantastic choice for those who regularly need to engrave.

Different models of engraving machines launched by Monport Laser can meet the different needs of users and can be applied to various scenes of woodworking engraving for assorted projects. 40W desktop laser engraver, which is the most popular model, can accommodate woodworking enthusiasts’ demands. High-power laser engravers are required for professional woodworking. Currently, Monport Laser is accumulating comments from customers, hoping to upgrade to better products. Awaiting the announcement of the next new product to see what surprises Monport Laser has in store.

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

Monport Laser Expands After-Sales Technical Support for Laser Engraving Machines

WASHINGTON, Sept. 23, 2023 /PRNewswire/ — Prepare to experience a laser engraving journey like never before as Monport Laser announces the expansion of its robust after-sales technical support services. With an unwavering dedication to exceeding customer expectations, Monport is now seeking skilled technical professionals from all corners of the United States. Join forces with the industry leader as Monport Laser redefines excellence in the laser engraving realm.

In today’s fast-paced world, technical support service is crucial for customers to keep up with their businesses’ growth. Monport Laser has built its reputation on its outstanding technical support services for laser engraving machines across the industry. The company believes that every customer deserves exceptional service and the highest level of technical support.

Monport Laser is committed to expanding its technical support services to provide customers with even more comprehensive support. The company is seeking technical support professionals from all over the United States with expertise in troubleshooting and customer service. Monport Laser wants to work with highly skilled technical professionals to build a strong national network of technical support that can offer more localized, region-specific services to customers. Monport will cooperate with these technical support personnel in different depths according to their professionalism, and full-time and part-time intentions. Experts who are proficient in the field of CO2 laser engraving and experts who are proficient in fiber laser are of course mainly responsible for different fields.

As part of this plan, Monport Laser has invested in the recruitment of well-trained and experienced professionals to form a team for after-sales technical support services. This team will work closely with customers on a regional level to solve technical problems and other concerns directly. With a more localized approach, Monport Laser aims to establish a more flexible support system for its customers.

Furthermore, Monport Laser encourages technical support professionals with a passion for laser technology and a mission to contribute to the laser industry to join their team. The company offers competitive packages and benefits for qualified technicians and ensures a career roadmap for growth and development within the company.

“We are excited to grow our after-sales technical support team and collaborate with all talented technical professionals who share our passion for laser technology,” said Charlie Smith, Manager for Monport Laser. “Our mission is to provide personalized and on-demand technical support services to our customers, and we believe that with a strong regional team, we can deliver even more exceptional services that exceed expectations.”

Monport Laser encourages all interested parties to submit a resume and application through their website. As Monport Laser finds more talents to join their team, they are confident in their ability to provide invaluable support to growing the laser engraving industry and serve customers on a more localized and individual level.

Stay tuned as Monport Laser continues its quest to push the boundaries of innovation, providing cutting-edge technology alongside an unbeatable customer experience. With Monport Laser at the forefront, the possibilities in the laser engraving industry are boundless, promising a future filled with stunning creations, seamless operations, and unmatched satisfaction for customers across the United States and beyond.

Join Monport Laser and Enjoy the Magic of Laser!

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

STL starts to ‘Make in America’ with its next-gen Lugoff OFC facility


  • Inaugurated by Hon. Henry McMaster, Governor, South Carolina
  • $56m USD investment
  • Commitment to drive US rural broadband build and enable the BEAD vision

COLUMBIA, S.C. and LONDON and MUMBAI, India, Sept. 16, 2023 /PRNewswire/ — STL (NSE: STLTECH), aleading global optical and digital solutions company, today formally announced the launch of its state-of-the-art manufacturing facility in Lugoff, South CarolinaThe Palmetto Plant. Named after the state tree of South Carolina, this facility, also designated as STL’s North American Headquarters, symbolizes STL’s commitment to the US market.

The Palmetto Plant was inaugurated by Hon. Henry McMaster, Governor of South Carolina, in the presence of government dignitaries, key customers, and representatives from the local Chambers of Commerce.

This strategic investment and expansion efforts in the U.S. further reinforce STL’s commitment to the Make in America vision. Addressing the market demand for 5G, FTTx, and the push for rural broadband, The Palmetto Plant, spanning over 168,000 sq. ft will specialize in future-ready optical solutions, including high fiber count cables with smaller diameters. The emphasis will also extend to pioneering designs, notably high-capacity ribbonized cables and ruggedized designs for rural deployments. To help operators tackle the industry-wide skills shortage, the new Lugoff facility is also prioritizing optical connectivity products that are simple to deploy, monitor, and maintain. Additionally, comprehensive on-site testing aligned with industry-standard GR20 guidelines ensures the high quality and reliability of its products.

STL Palmetto Plant Launch in South Carolina, US
STL Palmetto Plant Launch in South Carolina, US

STL has committed to being Net zero by 2030. Following in the footsteps of STL’s other global manufacturing units, the Lugoff facility also aims to achieve zero waste and reduce energy consumption progressively.

The Palmetto Plant employs over 150 people, including skilled manufacturing associates and seasoned industry specialists leading the company’s North American operations.

“The inauguration of STL’s manufacturing plant marks a significant stride forward for our state’s broadband efforts and will provide new opportunities for our people in Kershaw County,” said Governor Henry McMaster.South Carolina has built a national reputation as a leader in broadband expansion, and with STL establishing operations in South Carolina, that reputation will only expand.”

Excited about this significant milestone, Paul Atkinson, CEO, Optical Networking Business at STL, said: “Our new cable plant in Lugoff, South Carolina, is a testament to our commitment to the US market and our customers in North America. This facility mirrors our ethos and STL’s larger purpose – of Transforming Billions of Lives by Connecting the World. I am excited to see its impact on America’s rural connectivity and digital landscape.” 

From glass to fiber, cabling, and optical connectivity, STL is one of only 6 players worldwide[1] with end-to-end capabilities in this space. The company works closely with regional and national players and with industry associations like the FBA and the Power and Communication Contractors Association (PCCA) to create meaningful impact at scale.

About STL – Sterlite Technologies Ltd:

STL is a leading global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise and Data Centre networks. Read more, Contact us, stl.tech | Twitter |

[1] Ex-China

TD Holdings, Inc. Reports First Quarter 2023 Financial Results

SHENZHEN, China, May 13, 2023 /PRNewswire/ — TD Holdings, Inc. (Nasdaq: GLG) (the “Company”), a commodities trading service provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2023.

Ms. Renmei Ouyang, the Chief Executive Officer of the Company, stated, “We continued to provide unparalleled services to our clients and explore new partnerships to address the market opportunities in the first quarter of fiscal year 2023. In the remaining of 2023, we will continue to execute our development plan to expand our business scale and improve our brand awareness. We will remain focus on the optimization of our commodities trading business and supply chain service business to expand our client base. We believe our dedicated and experienced team is our foundation to separate us from other competitors and enhance our competitive market position. With the rapid resumption of business activities, we expect to actively explore new corporations, provide high-quality services to best serve our clients’ demand and generate additional revenue sources. In addition to the growth plan, we expect to improve our efficiency by implementing necessary measures. We remain confident about our future prospects with our long-term development strategy on seeking growth opportunities in our business.”

First Quarter 2023 Financial Highlights

Total revenue was $34.58 million, consisting of $34.57 million from sales of commodity products, and $0.01 million from supply chain management services for the quarter ended March 31, 2023, a decrease of 28% from $48.16 million for the same quarter ended March 31, 2022.

Net income was $0.45 million for the quarter ended March 31, 2023, compared with $1.59 million for the same quarter ended March 31, 2022.

Basic and diluted earnings per share were $0.00 respectively, for the quarter ended March 31, 2023, compared with $0.04 for the same quarter ended March 31, 2022.

First Quarter 2023 Financial Results

Revenues

For the quarter ended March 31, 2023, the Company sold non-ferrous metals to 14 third-party customers at fixed prices, and earned revenues when the product ownership was transferred to its customers. The Company earned revenues of $34.57 million from sales of commodity products for the quarter ended March 31, 2023, compared with $47.58 million for the same quarter ended March 31, 2022.

For the quarter ended March 31, 2023, the Company recorded revenue of $0.01 million from supply chain management services to third-party customers, compared with $0.58 million to third-party vendors for the same quarter ended March 31, 2022.

Cost of Revenue

Cost of revenue primarily includes cost of revenue associated with commodity product sales and cost of revenue associated with management services of supply chain. Total cost of revenue decreased by $12.95 million, or 27% to $34.65 million for the quarter ended March 31, 2023, from $47.60 million for the same quarter ended March 31, 2022, primarily due to the decrease in the cost of revenue associated with commodity product sales.

Selling, General, and Administrative Expenses

Selling, general and administrative expenses increased by $0.50 million or 22%, to $2.74 million for the quarter ended March 31, 2023, from $2.25 million for the same quarter ended March 31, 2022. Selling, general and administrative expenses primarily consisted of salary and employee benefits, office rental expenses, amortizations of intangible assets and convertible promissory notes, professional service fees and finance offering related fees. The increase was mainly attributable to the amortization of intangible assets of $2.05 million, as the company acquired a software copyright of the original amount of RMB300 million in connection with the contractual arrangement with Shenzhen Tongdow Internet Technology Co., Ltd. on October 25, 2022, which contributed $1.10 million to selling, general, and administrative expenses for the three months ended March 31, 2022.

Interest Income

Interest income was primarily generated from loans made to third parties and related parties. Interest income increased by $0.06 million or 1%, to $4.45 million for the quarter ended March 31, 2023, from $4.39 million for the same quarter ended March 31, 2022.

Amortization of Beneficial Conversion Feature and Relative Fair Value of Warrants Relating to the Issuance of Convertible Promissory Notes  

For the quarter ended March 31, 2023, the item represented the amortization of beneficial conversion feature of $0.22 million of two convertible promissory notes issued on May 6, 2022 and March 13, 2023.

For the same quarter ended March 31, 2022, the item represented the amortization of beneficial conversion feature of $0.21 million of three convertible promissory notes issued on January 6, 2021, March 4, 2021 and October 4, 2021.

Net Income

Net income was $0.45 million for the quarter ended March 31, 2023, compared with $1.59 million for the same quarter ended March 31, 2022.

Three Months Ended March 31, 2023 Cash Flows

As of March 31, 2023, the Company had cash and cash equivalents of $1.98 million, as compared with $0.89 million as of December 31, 2022.

Net cash provided by operating activities was $2.77 million for the quarter ended March 31, 2023, compared with $3.75 million for the same quarter ended March 31, 2022.

Net cash used in investing activities was $46.69 million for the quarter ended March 31, 2023, compared with $50.00 million for the same quarter ended March 31, 2022.

Net cash provided by financing activities was $45.91 million for the quarter ended March 31, 2023, compared with $45.50 million for the same quarter ended March 31, 2022.

About TD Holdings, Inc.

TD Holdings, Inc. is a service provider currently engaging in the commodities trading business and supply chain service business in China. Its commodities trading business primarily involves purchasing non-ferrous metal products from upstream metal and mineral suppliers and then selling to downstream customers. Its supply chain service business primarily has served as a one-stop commodity supply chain service and digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information, and futures trading. For more information, please visit http://ir.tdglg.com.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of TD Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company’s operations, the demand for the Company’s products and services, global supply chains and economic activity in general. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

For more information, please contact:

Ascent Investor Relations LLC
Ms. Tina Xiao
Email:tina.xiao@ascent-ir.com 
Tel: +1 917 609 0333

TD HOLDINGS, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

As of March 31, 2023 and December 31, 2022

(Expressed in U.S. dollars, except for the number of shares)

March 31,

December 31,

2023

2022

ASSETS

Current Assets

Cash and cash equivalents

$

1,981,012

$

893,057

Loans receivable from third parties

191,630,240

143,174,634

Other current assets

4,991,860

4,040,477

Inventories, net

415,718

458,157

Total current assets

199,018,830

148,566,325

Non-Current Assets

Plant and equipment, net

5,239

6,370

Goodwill

162,379,512

160,213,550

Intangible assets, net

52,803,772

54,114,727

Right-of-use assets, net

168,458

196,826

Total non-current assets

215,356,981

214,531,473

Total Assets

$

414,375,811

$

363,097,798

LIABILITIES AND EQUITY

Current Liabilities

Accounts payable

$

$

1,269

Bank borrowings

1,018,671

1,005,083

Third party loans payable

472,842

460,587

Contract liabilities

18,395

437,148

Income tax payable

12,835,992

11,634,987

Lease liabilities

109,977

116,170

Other current liabilities

5,654,669

5,348,646

Convertible promissory notes

4,635,456

4,208,141

Total current liabilities

24,746,002

23,212,031

Non-Current Liabilities

Due to related party

39,291,587

38,767,481

Deferred tax liabilities

2,907,489

3,059,953

Lease liabilities

62,396

84,164

Total non-current liabilities

42,261,472

41,911,598

Total liabilities

67,007,474

65,123,629

Commitments and Contingencies (Note 16)

Equity

Common stock (par value $0.001 per share, 600,000,000 shares authorized;
144,841,328 and 106,742,117 shares issued and outstanding as of March 31, 2023
and December 31, 2022, respectively)*

144,841

106,742

Additional paid-in capital

390,154,966

344,295,992

Statutory surplus reserve

2,602,667

2,602,667

Accumulated deficit

(37,950,132)

(38,800,375)

Accumulated other comprehensive income

(5,939,107)

(8,984,925)

Total TD Shareholders’ Equity

349,013,235

299,220,101

Non-controlling interest

(1,644,898)

(1,245,932)

Total Equity

347,368,337

297,974,169

Total Liabilities and Equity

$

414,375,811

$

363,097,798

* Retrospectively restated due to five for one Reverse Stock Split, see Note 12 – Reverse stock split of common stock.

TD HOLDINGS, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND

COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended March 31, 2023 and 2022

(Expressed in U.S. dollars, except for the number of shares)

For the Three Months
Ended
March 31,

2023

2022

Revenues

    - Sales of commodity products – third parties

$

34,571,288

$

47,583,965

    - Supply chain management services – third parties

6,350

575,151

Total revenue

34,577,638

48,159,116

Cost of revenues

    - Commodity product sales-third parties

(34,653,239)

(47,590,576)

    - Supply chain management services-third parties

(40)

(11,602)

Total operating costs

(34,653,279)

(47,602,178)

Gross (loss)/profit

(75,641)

556,938

Operating expenses

Selling, general, and administrative expenses

(2,743,061)

(2,247,707)

Total operating expenses

(2,743,061)

(2,247,707)

Net Operating Loss

(2,818,702)

(1,690,769)

Other income (expenses), net

Interest income

4,449,000

4,390,341

Interest expenses

(109,987)

(110,326)

Amortization of beneficial conversion feature relating to issuance of convertible
promissory notes

(220,652)

(213,367)

Other income, net

4,523

95,709

Total other income, net

4,122,884

4,162,357

Net income before income taxes

1,304,182

2,471,588

Income tax expenses

(852,905)

(877,731)

Net income

451,277

1,593,857

Less: Net loss attributable to non-controlling interests

(398,966)

Net income attributable to TD Holdings, Inc.’s Stockholders

850,243

1,593,857

Comprehensive Income

Net income

451,277

1,593,857

Foreign currency translation adjustments

3,045,818

881,196

Comprehensive Income

$

3,497,095

$

2,475,053

Less: Total comprehensive loss attributable to non-controlling interests

(398,966)

Comprehensive income attributable to TD Holdings, Inc.’s Stockholders

$

3,896,061

$

2,475,053

Income per share – basic and diluted

Continuing Operation- income per share – basic*

$

0.00

$

0.04

Continuing Operation- income per share –diluted*

$

0.00

$

0.04

Weighted Average Shares Outstanding-Basic*

140,045,132

39,688,232

Weighted Average Shares Outstanding- Diluted*

148,121,900

42,710,590

*  Retrospectively restated due to five for one Reverse Stock Split, see Note 12 – Reverse stock split of common stock

 

TD HOLDINGS, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Three Months Ended March 31, 2023 and 2022

(Expressed in U.S. dollar)

For the Three Months

Ended March 31,

2023

2022

Cash Flows from Operating Activities:

Net income

$

451,277

$

1,593,857

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

Depreciation of plant and equipment

1,215

3,217

Amortization of intangible assets

2,049,732

1,029,186

Amortization of right of use assets

30,846

76,983

Amortization of discount on convertible promissory notes

93,333

111,000

Interest expense for convertible promissory notes

101,330

93,285

Amortization of beneficial conversion feature of convertible promissory notes

220,652

213,367

Monitoring fee relating to convertible promissory notes

69,685

Deferred tax liabilities

(194,515)

(209,744)

Inventories impairment

(17,229)

Escrow account receivable

(54,985)

Inventories

66,033

(133,810)

Other current assets

(24,222)

(29,775)

Prepayments

447,960

(1,891,842)

Contract liabilities

(426,158)

1,900,456

Due to related parties

(21,259)

Due from third parties

(628,474)

(481,816)

Due from related parties

(685,488)

28,897

Accounts payable

(1,291)

(116,078)

Income tax payable

1,047,382

1,085,694

Other current liabilities

259,083

499,661

Lease liabilities

(30,476)

(19,734)

Due to third party loans payable

6,050

6,523

Net cash provided by operating activities

2,767,040

3,752,768

Cash Flows from Investing Activities:

Purchases of plant and equipment

(5,039)

Purchases of operating lease assets

(58,617)

Loans made to third parties

(46,678,620)

(60,177,853)

Collection of loans from related parties

11,066,822

Investments in other investing activities

(10,707)

(828,601)

Net cash used in investing activities

(46,689,327)

(50,003,288)

Cash Flows from Financing Activities:

Proceeds from issuance of common stock under ATM transaction

559,073

Proceeds from issuance of common stock under private placement transactions

42,350,000

45,500,000

Proceeds from convertible promissory notes

3,000,000

Net cash provided by financing activities

45,909,073

45,500,000

Effect of exchange rate changes on cash and cash equivalents

(898,831)

13,794

Net increase/(decrease) in cash and cash equivalents

1,087,955

(736,726)

Cash and cash equivalents at beginning of period

893,057

4,311,068

Cash and cash equivalents at end of period

$

1,981,012

$

3,574,342

Supplemental Cash Flow Information

Cash paid for interest expenses

$

19,934

$

22,109

Cash paid for income taxes

$

$

1,781

Supplemental disclosure of Non-cash investing and financing activities

Right-of-use assets obtained in exchange for operating lease obligations

$

$

58,617

Issuance of common stocks in connection with conversion of convertible promissory
    notes

$

2,988,000

$

1,804,820

Source: TD Holdings, Inc.

Recon Technology Announces Closing of $8 million Registered Direct Offering

BEIJING, March 18, 2023 /PRNewswire/ — Recon Technology, Ltd. (NASDAQ: RCON) (“Recon” or the “Company”) announced today the closing of its previously announced registered direct offering with certain accredited investors to purchase approximately $8 million worth of its Class A ordinary shares (or pre-funded warrants to purchase Class A ordinary shares in lieu thereof) in a registered direct offering, and Class A ordinary shares warrants in a concurrent private placement, for proceeds of approximately $8 million. In addition, ordinary share purchase warrants to purchase an aggregate of 7,950,769 ordinary shares previously issued by the Company to certain institutional investors on June 16, 2021 had the exercise price reduced to $0.80 in connection with this offering.

After deducting the placement agent’s commission and other offering expenses payable by the Company, the net proceeds to the Company were approximately $7.1 million. The Company intends to use the net proceeds for general corporate purposes, including for the Company’s research and development needs for current and future products, expansion of marketing efforts, and possible acquisitions of complementary assets or businesses.

Maxim Group LLC (“Maxim”) acted as the sole placement agent in connection with this offering.

The securities described above were offered by the Company pursuant to a shelf registration statement on Form F-3 filed with the Securities and Exchange Commission (SEC) dated December 2, 2022, and declared effective on January 5, 2023. A prospectus supplement related to the offering were filed with the SEC on March 17, 2023 and is available on the SEC’s website at http://www.sec.gov. Copies of the prospectus supplements relating to the offering may be obtained, when available, by contacting: Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, by telephone: at (212) 895-3500.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

About Recon Technology, Ltd.

Recon Technology, Ltd (NASDAQ: Recon) is China’s first listed non-state owned oil and gas field service company on NASDAQ. Recon supplies China’s largest oil exploration companies, Sinopec (NYSE: SNP) and The China National Petroleum Corporation (“CNPC”), with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measure for increasing petroleum extraction levels, reducing impurities and lowering production costs. Through the years, Recon has taken leading positions on several segmented markets of the oil and gas filed service industry. Recon also has developed stable long-term cooperation relationship with its major clients. For additional information please visit: www.recon.cn.

Forward-Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, whether we will sign any additional contracts with the North China Branch, the final revenue from providing services to the North China Branch, actual results of our solutions in the field, levels of spending in our industry as well as consumer confidence generally; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 20-F, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

For more information, please contact:
Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd
Phone: +86 (10) 8494-5188
Email: info@recon.cn

SurplusGLOBAL Announces Executive Promotion, Recruitment, and Establishment of Equipment Technology Team

SEOUL, South Korea, March 3, 2023 /PRNewswire/ — SurplusGLOBAL, the leading global platform company for pre-owned semiconductor equipment (www.SurplusGLOBAL.com), announced on the 27th a major organizational restructuring to achieve sustainable business growth until 2030.

SurplusGLOBAL announces the promotion of Jeff Kim to Managing Director(left), and the hiring of Danny Kim as Managing Director of the Global Parts Platform, Sam Yoo as Managing Director of the Sales 3 team
SurplusGLOBAL announces the promotion of Jeff Kim to Managing Director(left), and the hiring of Danny Kim as Managing Director of the Global Parts Platform, Sam Yoo as Managing Director of the Sales 3 team

SurplusGLOBAL has announced the establishment of a new equipment technology team to enhance technology development and customer support continuously. The team will focus on expanding the technical customer solutions for used semiconductor equipment and aims to assemble a group of top-level equipment engineers to provide cutting-edge customer solutions. With this latest move, SurplusGLOBAL is reaffirming its commitment to delivering world-class services to its customers.

Jeff Kim has been promoted to Managing Director. In contrast, Danny Kim and Sam Yoo joined SurplusGLOBAL as newly recruited executives in the global parts platform and semiconductor back-end equipment sales teams.

In particular, Managing Director Jeff Kim has worked at SurplusGLOBAL for over 16 years and is an equipment sales veteran with rich experience in large-scale project bidding, including back-end semiconductor equipment and front-end equipment sales in various fields.

SurplusGLOBAL appoints Managing Director Danny Kim to lead the expansion of the global parts platform business and make it the company’s primary business by 2030, addressing global parts supply chain challenges. As the new Managing Director, Sam Yoo will spearhead the back-end equipment distribution business at SurplusGLOBAL. He brings a wealth of experience in overseas marketing and supply chain management, gained during his time as a semiconductor China sales representative.

Managing Director Jeff Kim expressed, “Having served SurplusGLOBAL for the past 16 years since my joining in 2007, I am now entrusted with the responsibility of undertaking novel challenges as an executive to realize the company’s vision. Nonetheless, I remain confident we shall accomplish it collectively with our colleagues.”

SurplusGLOBAL continues to expand its equipment technology and global sales organization while entering the semiconductor equipment cluster, pursuing deeper and more diverse solutions for the global semiconductor fab and foundry supply chain in Korea and worldwide.

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Source: SurplusGLOBAL, Inc.

Ecolog International Appoints Juan Chaparro as Executive Director and Chairman of the Board

DUBAI, UAE, Jan. 9, 2023 /PRNewswire/ — Ecolog International, a leading global provider of integrated services and logistics solutions for life support, supply chain, energy and healthcare industries, announced the appointment of Juan Chaparro as Executive Chairman of the Board, as of 01 January 2023.

With over 30 years’ experience as an executive in supply chain management, procurement and sourcing, having worked for globally recognized companies such as Zara (Inditex), Esprit and Primark, Mr. Chaparro brings a wealth of expertise in complex logistics management in fast-paced environments as well as the B2C focus. This aligns with Ecolog’s vision and growth strategy and makes him a valuable addition to the leadership team.

Commenting on his new role, Juan Chaparro said, “Ecolog is a unique organization with distinguished history and the potential to help improve all aspects of the lives of the people it serves, from water and sanitation to catering, healthcare and the wider environment. Its people-driven focus and family-like culture, both internally and externally, are among the many reasons I am excited to be joining”

Mr. Chaparro’s appointment comes at a pivotal time as Ecolog progresses with expanding its service offering into customized healthcare solutions, clean water and renewable energy as well as sustainable food technologies. With projects in both emerging and established markets catering to various institutional clients, Ecolog is set to leverage its scale and footprint to also provide direct services to consumers.

“This is an exciting phase of the company’s development, investigating how we can mobilize our most valuable asset – our people and their skills – to grow their abilities and expand our capacity to assist more people in more ways. I am eager to contribute in my new role and honoured to lead our incredible team towards new heights of success”, said Juan Chaparro.

About Ecolog

Ecolog International is a global provider of integrated services and sustainable solutions tailored to the needs of diverse range of customers in the humanitarian, healthcare, energy, mining and infrastructure industries. Incorporated over two decades ago in Germany, with the footprint in nearly 40 countries, the company’s service portfolio includes life support, supply chain management, construction, engineering, healthcare and environmental services. Driven by the passion to serve people and communities, Ecolog has an extensive experience in providing fast response solutions, integrated and complex logistics as well as mission-critical operations.

Press Contact: press@ecolog-international.com T: +971 (0)4 299 4500 

XCMG Machinery Sends off Second Unit of XGT15000-600S, World’s Largest Tower Crane, to Serve Mega-Scale Bridge Construction Project

XUZHOU, China, Dec. 30, 2022 /PRNewswire/ — XCMG Machinery (SHE:000425; “XCMG”) sent off the second unit of XGT15000-600S, the world’s largest tower crane jointly developed by XCMG and China Railway Major Bridge Engineering Co., Ltd. (MBEC), on December 8 from its smart manufacturing base in Xuzhou, China. It will serve in the construction project of Changtai Yangtze River Bridge, the world’s largest diamond-type cable-stayed bridge.

XCMG Machinery Sends off Second Unit of XGT15000-600S, World’s Largest Tower Crane, to Serve Mega-Scale Bridge Construction Project.
XCMG Machinery Sends off Second Unit of XGT15000-600S, World’s Largest Tower Crane, to Serve Mega-Scale Bridge Construction Project.

The XGT15000-600S is a super large tower crane designed and customized to accommodate mega-scale bridge construction projects. The first unit, which officially rolled off the assembly line in June, was deployed to the Chao-Ma railway bridge project of the Ma’anshan Yangtze River Bridge (including railway and highway). The second unit, now being delivered to the Changtai Yangtze River Bridge, will complete a series of steel tower hoisting and installation tasks, including lifting maximum weight of 300 tons to the height of over 300 meters.

As a major breakthrough of bridge construction equipment development and key milestone for the tower crane industry sector, the XGT15000-600S not only demonstrated XCMG’s industry-leading strength of intelligent manufacturing and brand influence, but also set a new benchmark of industry cooperation for super engineering projects.

“XCMG’s tower cranes have conquered the world’s top technical bottlenecks, and we’re now delivering tower cranes of over 1,000+ tonne-meters in batches that are widely adopted in the constructions of bridges, power plants, stadiums and super high-rise buildings,” said Yuan Shaozhen, General Manager of XCMG’s Tower Crane. 

Developed on XCMG’s S series tower crane technology platform, the XGT15000-600S has a rated lifting moment of 15,000tm, maximum lifting weight of 600 tons and maximum lifting height of 400+ meters. The super tower crane has over 60 core technology breakthroughs and achieved 10 world firsts and set 10 world records.

The tower crane adopts the combined design of a flat head main tower, boom auxiliary tower and manned elevator, and has the core advantages of a high safety level, intelligent technology, strong functionality, high quality and precise modules to deliver excellent performance. It also achieves level 12 typhoon resistance in a non-working state.

“XCMG will continue to promote independent R&D and tackle core technologies  to bring more pioneering super-scale tower crane products that meets the increasing demand of large-scale construction projects,” said Mi Chenghong, assistant to the general manager of XCMG’s Tower Crane.

Global Times: The rising way – How did CPC lead China from poverty to xiaokang?

BEIJING, Oct. 16, 2022 /PRNewswire/ — The Communist Party of China (CPC) will convene its 20th National Congress on October 16 to bring China’s development to the next stage. This congress is being held after China has accomplished its first centenary goal of building xiaokang – a moderately prosperous society in all respects by 2021 – and to start the second centenary goal of building a modern socialist country that is prosperous, strong, democratic, culturally advanced and harmonious by 2049.

From the founding of the CPC in 1921, the Chinese people took more than two decades to throw off oppression as a semi-colonial, semi-feudal society and found the People’s Republic of China in 1949. After the launch of reform and opening-up in 1978 and through the continuous efforts of the Chinese people, China experienced the transformation from a huge, poor and backward country in the East into a thriving socialist China.

Today, after having lauded the great achievements that China has made in the past 100 years, the international community is paying close attention to how it will create a new miracle in a more complicated international environment. It is also necessary to review how the CPC has led the Chinese people to accomplish the first goal, as history always carries the secrets of future success.

This is the first installment of the Global Times’ special coverage of the special event.

Jiaxing, a city in East China’s Zhejiang Province, has become a “must-visit” place for many Chinese people, especially in recent days, as the 20th National Congress of the Communist Party of China (CPC) gets set to convene. The red boat that anchors off the bank of the Nanhu Lake in Jiaxing and the story that 13 people representing more than 50 CPC members across China adopted the Party’s program and proclaimed the founding of the CPC on the boat brought visitors back to the CPC’s starting point of leading the Chinese people out of humiliation, poverty and the scourge of war.

The founding of the CPC a hundred years ago was a pivotal event in Chinese history. From the outset, the CPC and the Party members have made the well-being of the Chinese people and the rejuvenation of the Chinese nation its abiding goals.

In October 2017, when the 19th CPC National Congress concluded, the CPC’s newly elected top leadership, headed by General Secretary Xi Jinping, visited Nanhu Lake, where they vowed to stay true to the Party’s original aspiration and founding mission and serve the people. This was Xi’s first domestic trip after the 19th CPC National Congress, and it was also at this congress that China set out a clear timetable and road map to complete building xiaokang — a moderately prosperous society.

On July 1, 2021, at the ceremony marking the centennial of the CPC’s founding, Xi, general secretary of the CPC Central Committee and president of China, declared that China had realized its First Centenary Goal of building a moderately prosperous society in all respects, which means that China has put an end to absolute poverty, and is now marching in confident strides toward the Second Centenary Goal of building a great modern socialist country.

From 1949 to 2021, the city of Jiaxing, where the red boat remains as the physical birthplace of the CPC, together with thousands of other cities across China, witnessed the perseverance of generations of Chinese people, led by the CPC, progressing step by step from a subsistence level of living to piecemeal prosperity, then to moderate prosperity throughout the country. All the stories that have happened in these Chinese cities make up the greater chapter of China’s rise and also revealed the secrets of how the CPC has led the Chinese people to make such achievements.

Starting with an abiding dream

Xiaokang, a term that means moderate prosperity, has carried Chinese people’s desire for a better life and has been a consistent aspiration of the Chinese nation since ancient times. However, for millennia, moderate prosperity remained a dream, and the modern history of China was filled with the bitterness of being reduced to a semi-colonial, semi-feudal society and subjected to terrible external oppression.

With its aspiration and founding mission of seeking happiness for the people and rejuvenating the Chinese nation, the CPC, since its founding in 1921, has united the Chinese people in achieving one success after another. They earned victory in the New Democratic Revolution; founded the People’s Republic of China (PRC) in 1949 and started the socialist construction.

Through accumulating small achievements in various fields in different cities, China eventually built a comparatively sound industrial system out of a war-torn country, laying the foundation for a future economic leap. Strengthening strategic planning and policy design, formulating phased objectives, reviewing experience and summarizing findings in practice are the valuable lessons that the CPC and Chinese people have drawn from the early years of the PRC.

For example, to develop modern industry, agriculture, transportation and defense, from 1953 to 1957, China began to implement its First Five-Year Plan (1953-57). In the 1960s, the CPC also set the goal of achieving the Four Modernizations – modernization of industry, agriculture, national defense, and science and technology – by the end of the 20th century, and devised a two-stage development plan to this end.

As the city of Jiaxing witnessed the founding of the CPC, more cities across China witnessed the rapid development in the first decade after the founding of the PRC. For example, Anshan in Northeast China’s Liaoning Province saw the first batch of melted iron produced in 1949; China’s first steam locomotive was made in Qingdao, East China’s Shandong Province in 1952; the first batch of “Jiefang (Liberation)” homemade trucks came off the production line in 1956 in Changchun, Northeast China’s Jilin Province; the first black and white television was manufactured in North China’s Tianjin in 1958.

Hard work brought achievements. China’s GDP in 1952 was 67.9 billion yuan with per capita GDP at 119 yuan, while in 1978, the GDP increased to 367.9 billion yuan and the per capital GDP in that year was 385 yuan, according to a white paper on China’s xiaokang issued in 2021.

Despite the fundamental changes China had made, it still had a long way to go to catch up with many other countries in the world. China’s per capita GDP in 1949 was only $23, roughly a similar level with neighboring India for about a decade. While the US’s GDP in 1949 was $272.5 billion with the per capital GDP of $1,798.33.

Leaping through opening-up

The year 1978 was a shining year in the history of Chinese people’s struggle to build a better-off society through China’s reform and opening-up. Also, in the early years of reform and opening-up, Deng Xiaoping for the first time used the term xiaokang to present his vision of China’s modernization. The top Chinese leader also set the goal of delivering a xiaokang life for the Chinese people and building a xiaokang society by the end of the 20th century.

By xiaokang, we need to achieve a per capita GNP of $800, Deng elaborated in multiple occasions.

More cities in the country have experienced the launch of the Chinese miracle since 1978, and Shenzhen, bordering Hong Kong, stands out among them.

In July 1979, a huge explosion leveled the mountains in Shekou in southern Shenzhen, firing the “first shot” of China’s reform and opening-up – a path that differed greatly from the planned economic mechanism of the time. The flattened land and scattered earth, which had filled the sea, were used to create infrastructure for China’s first special economic industrial park and marked the prelude of China’s rise as a global economic power that is strong enough to unnerve the US today.

But for pioneers in Shekou, even communicating with the outside world was a big headache, as only people in Beijing and Shanghai were able to make international calls back in 1979.

The central government then “specially approved” 800 automatic exchanges for Shekou, giving the very first special economic zone the ability to make direct calls overseas and initiated 24 national reform firsts. The first joint-stock enterprise, the first joint-stock bank, and the first joint-stock insurance company, were all born out of Shekou, and most of these “firsts” are the normal state of China’s market economy.

Shekou’s experience soon inspired the rest of the country. In August 1980, China approved the establishment of special economic zones in Shenzhen, Zhuhai, and Shantou in South China’s Guangdong Province and Xiamen in East China’s Fujian Province.

In May 1984, China further opened 14 coastal port cities including Tianjin, Dalian in Liaoning, and Yantai and Qingdao in Shandong.

The CPC and the Chinese people have seized the historic opportunities and properly managed the enormous changes. By staying committed to deeper reform and broader opening-up to the world, China has realized the greatest economic and social transformation in contemporary history.

In 1987, Shenzhen had already seen its GDP grow 30 times compared with the figure in 1979. The Shenzhen government also took the lead in introducing the first provisional regulations in the country to encourage scientific and technological personnel to invest in technology patents, management and other elements and set up private technology enterprises.

In the same year, 43-year-old ex-military officer Ren Zhengfei founded Huawei. That’s also when the 111-year-old Ericsson entered China for the first time and participated in the construction of China’s very first mobile communication base station. 

Twenty-two years later, in 2009, Huawei was identified by Ericsson as the “most serious competitor” in mobile systems. The Chinese high-tech giant has now become a world leader in the fifth generation of telecommunications technology, topping the market with a 31percent market share in terms of global telecom equipment revenue in 2020, followed by Ericsson with a 15 percent share.

In 40 years, Shenzhen has grown from a small fishing village with a population of only 30,000 to an international metropolis with a population of over 10 million. Its urban area has expanded from 3 square kilometers to more than 2,000 square kilometers, and with GDP volume swelling 10,000-fold, Shenzhen’s story is seen as a mirror of China’s economic miracle.

By 2021, Shenzhen’s GDP at current prices exceeded 3 trillion yuan ($475 billion), bringing it close to Norway’s GDP of $482.44 billion and far more than the $396.99 billion of Singapore.

In yet another milestone, the Third Plenary Session of the 14th CPC Central Committee in November 1993 approved the decision to establish a socialist market economic system. Hereinafter, a vibrant private sector has risen to prominence.

The small commodity market in Yiwu, a once landlocked county in Zhejiang Province and home to the largest number of the country’s small and medium-sized entrepreneurs, has since grown into the world’s largest wholesale market and the barometer of China’s foreign trade.

Yiwu is now known as the “world’s supermarket” as it is home to 2 million small and medium-sized enterprises. Commodities ranging from toys, socks, hair accessories and festive decorations are sent to more than 200 countries and regions around the world every day.

According to the locals, Yiwu traders dominate global rivals due to their “hard work,  flexibility and willingness to do businesses with lower profits,” which are also believed to be the secret of China’s initial manufacturing success.

The most well-known representative of Yiwu traders is Lou Zhongping, who is often referred to as the “King of Straws” by media outlets for owning one of the world’s largest producers of drinking straws.

Born into an impoverished family of six siblings in Yiwu in 1965, Lou dropped out of school at the age of 14 to eke out a living as an itinerant peddler. At that time, to earn 0.5 yuan, Lou would ride his tricycle for 6 kilometers for delivery.

Starting the low-margin straw business from scratch in the 1990s, Lou’s company now does businesses with the likes of McDonald’s, KFC and Starbucks, becoming one of the world’s largest producers of drinking straws. The company churns out more than 10 billion straws each year for domestic use and export to Japan, Europe and the US.

Lou’s business success also mirrors the shift of global value chains and transnational production lines. China’s manufacturing industry has also become dominant in producing just about anything from commonplace household items to integral pieces in automotive manufacturing.

China’s list of trading partners, which numbered in the 40s in 1978, grew to 231 economies in 2017.

The country’s total value of import and export of goods grew by an annual average of 18.6 percent from 1978 to 2017 to reach 27.8 trillion yuan, accounting for 11.5 percent of the world’s total. In the same period, Chinese exports grew to 15.3 trillion yuan from just 16.8 billion yuan, up on average 19.1 percent year-on-year.

Zhejiang, the province where Yiwu is located, is now one of the country’s most economic prosperous areas along with South China’s Guangdong Province.

In July 2021, Zhejiang was granted a new mission in China’s development – it launched a document detailing the specific plans to develop itself into a common prosperity pilot zone – an integral part of China’s second centenary goal, embarking on a journey that will become an example in the country of how to reduce disparities between regions, urban and rural areas, and incomes.

The miracles in Shenzhen and Yiwu are the epitomes of the quick development of China. China’s GDP increased from 367.9 billion yuan in 1978 to 1,887.3 billion yuan in 1990, 10,028 in 2000 and 41,211.9 in 2010. While its per capital GDP grew from 1978’s 385 yuan to 30,808 yuan in 2010.

Right now, Chinese people enjoy bigger houses, have faster and more comfortable transportation and have full access to daily necessities. Personal incomes have grown steadily, with the average per capita disposable income up from 171 yuan in 1978 to 12,520 yuan in 2010. In turn, the quality of life has improved, with the Engel coefficient of urban residents down from 57.5 percent in 1978 to 31.9 in 2010.

In 2010, China’s per capita GDP tripled from the India’s $1,358. While back in 1978, China’s per capita GDP was only $156, which was far below the US’ of around $10,000 at that time. It was also significantly lower than India’s $206.

In 2010 – the same year China accomplished its 11th Five-Year Plan (2006-10) – China overtook Japan to become the world’s second largest economy, just behind the US, in terms of GDP expressed in dollar terms. Together, all aspects in the Chinese society have experienced fundamental changes with the Chinese people taking a step further to the goal of xiaokang.

Perseverance over generations

At its 18th National Congress in 2012, the CPC announced that China would realize the First Centenary Goal of building a moderately prosperous society in all respects by 2021.

One month after the 18th CPC National Congress concluded, Xi visited Fuping county in North China’s Hebei Province, where the first anti-Japanese invasion base area behind enemy lines was built by the CPC. In Fuping, Xi sent out the mobilization order for the poverty alleviation campaign. Since then, people in the county have worked hard to fight poverty.

Tang Furong, a farmer born in Fuping, has witnessed the changes taking place in his county firsthand. In 1940, Tang left Fuping due to starvation and went to find his uncle in adjacent Shanxi Province. But in 1962, he returned to Fuping. Although life had generally improved by then, Tang and his fellow villagers were striving for a better one.

In 2012, the county was going through remarkable changes. To facilitate poverty alleviation, it was divided into eight areas with local officials taking the lead. Excellent Party members were selected to become Party chiefs in various villages. Together with 62 special teams deployed by the provincial government, they embarked on a journey to eradicate poverty in 209 villages across Fuping.

Teaching villagers to grow edible mushrooms, helping them to apply for loans to build greenhouses, finding investments to boost local tourism and services industries, launching programs to relocate impoverished residents, upgrading local infrastructure… With the help of provincial assistance and the persistence of local residents, Fuping residents’ lives have gradually improved.

Drinking safe water and walking on the newly built roads, residents in Fuping have also enjoyed upgraded grid network and telecommunication services. The per capita disposable income for local villagers grew from around 950 yuan in 2012 to more than 15,600 yuan in 2017. Since 2013, 13 schools were built and 93 schools were upgraded.

On February 29, 2020, 108,100 registered impoverished residents were announced to have escaped poverty, marking a phased victory of poverty alleviation in Fuping. Currently, Tang, who is over 100 years old, is living in a new apartment with endowment insurance and subsidies from the local governments at different levels.

Similar stories of poverty alleviation like those in Fuping happened in every remote area across China since 2012. According to data from a whitepaper the State Council released in 2021, by the end of 2020, all of the 99 million rural poor, and all of the 832 counties and 128,000 villages classified as poor under China’s current poverty line, had emerged from poverty.

The per capita disposable income of rural residents in poor areas reached 12,588 yuan in 2020. This represents a compound annual growth rate of 9.2 percent in real terms from 2013 to 2020, 2.2 percentage points higher than the average growth for rural residents nationwide. Formerly impoverished households now have adequate food, clothing and bedding for every season and all weather conditions. 

In 2020, China’s GDP stood at 102.6 trillion yuan and the per capita GDP was 72,000 yuan.

In February 2021, Xi solemnly declared “complete victory” on eradicating extreme poverty in China. Several months later, at the ceremony on July 1, 2021marking the centennial of the CPC’s founding, the Chinese leader declared that China had succeeded in the first centenary goal of building a moderately prosperous society in all respects through the continued efforts of the whole Party and the entire nation.

Analysts across the world praised these achievements and said that it also showed China’s development is entering a new phase, with a more ambitious goal expected in the next hundred years under the leadership of the CPC.

By reviewing the long journey of poverty alleviation, analysts pointed out that its success in eradicating extreme poverty was based on the principles that it used to achieve the goal for xiaokang – CPC leadership, commitment to time-phased objectives, achieving developments through reforms and opening-up and the persistence and hard work of the Chinese people.

They noted that China’s realization of xiaokang represents the fulfillment of an intermediate target on the way to modernization and national rejuvenation and the CPC and the Chinese people have already embarked on the new journey forward with more history and miracles waiting ahead for the Chinese people to make when pursuing the second centennial goal of building “a modern socialist country that is prosperous, strong, democratic, culturally advanced and harmonious” by 2049.

https://www.globaltimes.cn/page/202210/1277119.shtml

GMCC and Welling at Bangkok RHVAC

Products and solutions for multi-scenario applications help expand global business portfolio

BANGKOK, Sept. 10, 2022 /PRNewswire/ — On September 7, 2022, the Bangkok Refrigeration, Heating, Ventilation and Air Conditioning (RHVAC) 2022 exhibition held in Bangkok. As two brands of Midea Industrial Technology, GMCC and Welling shared a booth at the event where they showcased energy-efficient, green, low-carbon compressors and motors, with the aim of providing Southeast Asian consumers with products and technical solutions for domestic and commercial refrigeration and HVAC applications.

GMCC and Welling at Booth EH104 of BANGKOK RHVAC
GMCC and Welling at Booth EH104 of BANGKOK RHVAC

Over recent years, Midea Industrial Technology relying on its core technologies, innovative R&D team, strong supply chain system and other advantages in the home appliance field, has been aggressively rolling out its global business expansion. Its factories in Ayutthaya and Pathum Thani, Thailand serve as the base for supplying customers throughout Southeast Asia. In 2021, GMCC and Welling exported from the two Thai factories a total of 10.78 million components for use in ventilation, cooling and refrigeration equipment, an increase of 80.57% over four years earlier. The huge growth in export activities has meant a major boost for the two firms’ international roadmap.

GMCC compressors – with a focus on high reliability, low noise, and a wide range of application scenarios

GMCC’s rotary, scroll and reciprocating compressors were all on display at the exhibition. The extensive portfolio of rotary compressors supports the use of green refrigerants, with high energy efficiency, compact size and high reliability, and can be used in a variety of scenarios including both residential and commercial air conditioning, refrigerators, freezers and heating equipment.

In the light commercial exhibit display area, GMCC showcased its products made in China and Thailand. GMCC has developed a series of compressors using R404A, R513A and R449A refrigerants to meet the needs of users in Thailand for light commercial applications requiring stable operation under harsh working conditions. These products, with innovative design for high reliability and high energy efficiency, are suitable for use in more critical scenarios such as healthcare and logistics.

Welling motors – incorporating a variety of technologies, with plans to further expand capacity

Welling also showcased its lightweight, compact, low-vibration, low-noise and high-efficiency inverter air conditioner motors, air conditioner drainage pumps, light commercial air conditioner motors and refrigerator fans at the exhibition. Of note is that the Ayutthaya factory in Thailand will soon add three to five motor production lines, with an annual production capacity of 2 million units once put into operation. The production lines will produce ECM and impeller motors to provide capacity support for overseas expansion.

Abiding by the mantra that “technology drives everything”, the two Midea Industrial Technology brands, GMCC and Welling, backed by their technical strength, plan to further expand their global reach by developing products and solutions for multi-scenario applications tailored to the differentiated needs of consumers in the world’s many markets.