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PR Newswire

JD.com Plans to Double Imports of Sunkist Citrus Over the Next Three Years

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BEIJING, Dec. 20, 2021 — JD Fresh, the fresh produce business of JD.com announced a plan to double the imports of Sunkist’s citrus fruits in the next three years as the American citrus grower cooperative’s first export ship of newly harvested navel oranges arrived in Shanghai from Long Beach, California in mid-December.

The rising demand for high-quality fresh produce is a prominent trend amid China’s consumption upgrade. JD.com became an authorized e-commerce direct-sourcing partner of Sunkist’s citrus fruits in China since 2018, the company has seen a compound annual growth rate (CAGR) of 60% in Sunkist’s fresh citrus sales in the past years, and it plans to import no less than 10,000 tons of the premium citrus within the next three years.

Sunkist’s farmers in California sent off the first ship of seasonal navel oranges to JD Fresh in China
Sunkist’s farmers in California sent off the first ship of seasonal navel oranges to JD Fresh in China

"Thanks to our close collaboration with Sunkist and JD’s cold-chain logistic strength, we have created a highly efficient way to supply the in-season citrus directly from farm trees around the world to the dining tables of Chinese customers throughout the year at a better price and faster speed," said Wei Ye, general manager of JD Fresh.

"As people have greater need for healthy fresh food and are becoming more and more customized to shop for them online after the pandemic, we are confident to support Sunkist to further grow in the China market," he added.

"We are grateful for the opportunity to deliver fresh California-grown Sunkist citrus to consumers in China," said Christina Ward, Sr. Director of Global Marketing at Sunkist Growers, Inc.  "Through JD.com, we can educate millennial consumers on the in-season availability, flavor attributes, and nutritional benefits of our fruit."

Sunkist Growers is a citrus marketing cooperative, founded in 1893, which is owned by and operated for thousands of family farmers growing citrus in California and Arizona. The variety of its fresh citrus products include oranges, lemons, limes, mandarins and more. The seasonal navel oranges from the sunny California groves feature a refreshingly sweet and juicy taste, pleasant floral aroma and a bright orange, seedless interior.

Upon the ship’s arrival in China, following the custom quality inspection, the navel oranges will be sent directly to JD’s self-operated cold chain warehouses. The fruits will be put in JD customized packages and go straight to customers’ door steps through JD’s nationwide logistics network. JD’s cold-chain logistics for fresh produce, which range from same-day delivery to two-hour flash delivery, are the standard services available in more than 300 cities across China, allowing consumers in both coastal and inland regions to enjoy the freshest Sunkist products.

China is the largest importer for Sunkist citrus, accounting for about 30% of its global exports. Despite the headwinds in trade and supply chain in the past year, JD.com and Sunkist have continued to work together to ensure stable and smooth supplies to China and made the brand achieve first in sales among all the imported American citrus brands during the 2020-2021 season.

According to statistics from the United States Department of Agriculture (USDA) in September, U.S. citrus exports have dropped by 6% between 2020-2021 as compared to the previous season, primarily due to a smaller fresh-market crop. Under such circumstances, it is even more critical for the two sides to strengthen their partnership as a good indicator for the support of Sunkist’s farmers and the brand’s fans in China.

PR Newswire

Electric Corner Modules Show Potential to Integrate Powertrain, Suspension, and Steering Systems in Autonomous Vehicles

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SAN ANTONIO, Dec. 16, 2021 — Automotive original equipment manufacturers (OEMs) are expected to replace powertrain suspension and steering systems with electric corner modules (ECMs) as the demand for purpose-built vehicles increases. This will lower initial investments and reduce the time to market. As ECMs enable greater flexibility through increasing modularity and reusability, OEMs can efficiently use available space and reduce the lead time for new models. Their suitability for autonomous delivery vehicles, eShuttles, and electric light commercial vehicles (eLCVs) is expected to result in a $5.20 billion global market by 2030.

electric corner modules (PRNewsFoto/Frost & Sullivan)
electric corner modules (PRNewsFoto/Frost & Sullivan)

For further information on this analysis, please visit: https://frost.ly/6u8

"Purpose-built vehicles such as autonomous delivery vans, robo-taxis, and eShuttles need increased usable volume for cargo or passengers, making ECM-equipped vehicles ideal as they can carry up to 30% more volume as a similar-sized vehicle," noted Thirumalai Narasimhan, Senior Research Analyst, Mobility Practice at Frost & Sullivan. "ECMs can be updated over the air for sensor integrations and upgrades to autonomous driving. These upgrades can offer additional capabilities such as rear-wheel steering by swapping the existing module with a steerable module."

Narasimhan added: "ECM adoption is likely to increase after 2025 when OEMs start offering purpose-built vehicles based on skateboard architecture. As they develop models with new platform strategies that are not hindered by multi-energy platforms, they will find greater value in integrating ECMs in their vehicles."

As electric vehicles and autonomous driving become more mainstream, there will be inevitable changes in automotive design and development. This will lead to growth opportunities that ECM suppliers can leverage by:

  • Developing modular and flexible skateboard platforms, allowing OEMs to offer numerous models without investing significantly in powertrain components.
  • Integrating ECMs into EV architecture, enabling the seamless introduction of automation.
  • Partnering with OEMs for platform licensing, accelerating the vehicle’s time-to-market by helping OEMs reduce development time and cost.
  • Addressing maneuverability, space, and drive-by-wire requirements, allowing the vehicle to make different turns that would not have been possible in the traditional configuration.

Global Autonomous Vehicles Regulatory Growth Opportunities is the latest addition to Frost & Sullivan’s Mobility research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For over six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion.

Global Electric Corner Module Market, Growth Opportunities, 2021
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Srihari Daivanayagam, Corporate Communications
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E: srihari.daivanayagam@frost.com
https://www.frost.com

 

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PR Newswire

HAI ROBOTICS Earns Key Certifications for High Growth Robot System

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SGS and ETL Certifications Added to Impressive List of Certifications, Awards, and Successful Deployments

SHENZHEN, China, Dec. 8, 2021 — HAI ROBOTICS has been awarded SGS and ETL Certifications for its HAIPICK A42 robots and HAIPORT-powered Workstation, respectively. A recent winner of the robotics category for the 2021 NextGen Supply Chain Solution Provider Awards, HAI ROBOTICS has pioneered Autonomous Case-handling Robot (ACR) systems and the associated breakthrough capabilities for warehouses.

HAI ROBOTICS was awarded SGS certification.
HAI ROBOTICS was awarded SGS certification.

SGS Certification:  The product (HAIPICK robots) is certified according to ISO/IEC Guide 17067, Conformity assessment – Fundamentals of product certification, System 3, and in accordance with: ANSI/UL 3100, First Edition, Dated May 26, 2021

Intertek ETL Certification:  The product (HAIPORT-powered Workstation) is certified for the following standards:

  • Outline of Investigation for Machinery [UL Subject 2011: 2020 Ed.5]
  • Industrial electrical machinery [CSA C22.2 #301: 2016 Ed.1]
  • Electrical Standard for Industrial Machinery [NFPA79: 2017 Ed.2018]

The certified HAIPICK robots include the following models:

  • HAIPICK A42 – Multi-layer ACR with customizable height ranging from 3.3 – 16.4 feet
  • HAIPICK A42D – Double-deep picking increases storage density
  • HAIPICK A42N – Mixed carton/case/tote picking, 3D visual recognition
  • HAIPICK A42T – Telescopic lift, 82 feet to 21.33 feet storage range
  • HAIPICK A42 SLAM – Laser SLAM, ultra-precision picking and placing

The HAIPORT-powered Workstation is an automated picking workstation that provides:

  • Multi-case loading and unloading
  • Ability to load/unload four to eight cases simultaneously
  • Efficient and fast loading
  • Flexibility
  • Safety

"Our commitment to stringent certifications such as SGS, ETL, CE, and UL, as well as full compliance with local regulations and OSHA standards are just a few of the reasons that we have been able to provide rapid deployment and a 100% project success rate in more than 300 deployments worldwide," said Brian Zheng, the company’s U.S. General Manager.

About HAI ROBOTICS

HAI ROBOTICS, a trailblazer of Autonomous Case-handling Robot (ACR) system, is committed to providing efficient, intelligent, flexible, and customized warehouse automation solutions through robotics technology and AI algorithms. It aims to create value for each factory and logistics warehouse.

The HAIPICK ACR system, independently developed in 2015, is the world’s first of its kind.

Founded in 2016 with headquarters in Shenzhen, China, HAI ROBOTICS has set up five subsidiaries in Hong Kong SAR, Japan, Singapore, the U.S. and the Netherlands, serving customers from more than 30 countries and regions. It now has over 1,200 staff, more than 50% of whom are engineers. The company has acquired more than 600 global patents for core intellectual properties involving positioning, robot control and warehouse management. In the latest C and D rounds of funding in 2021, the company raised over US$200 million in total.

 

PR Newswire

Inaugural Departure of International Trains of China-Laos Railway (Chengdu/Chongqing-Vientiane)

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CHENGDU, China, Dec. 6, 2021 — On December 4th, 2021, international trains of the China-Laos Railway (Chengdu/Chongqing–Vientiane) laden with light commercial trucks, nuts, motorcycle parts, chemical products and other goods respectively departed from the Chengdu International Railway Port and the Chongqing International Logistics Hub Park, and will pass by Yunnan Province, then arrive at the Laotian capital Vientiane in no more than three days.

Inaugural Departure of International Trains of China-Laos Railway (Chengdu/Chongqing-Vientiane)
Inaugural Departure of International Trains of China-Laos Railway (Chengdu/Chongqing-Vientiane)

The train departing from Chengdu carries light commercial trucks manufactured by Sinotruk Chengdu Commercial Vehicle, an enterprise based in Qingbaijiang. In the past, the company had to arrange for drivers to directly drive products from Chengdu to export and deliver to Vientiane over a route of around 2,000 km spanning roughly ten days on the road. This transportation time has been substantially reduced to merely three days thanks to the opening of the China-Laos Railway.

"Compared with the traditional highway transportation, railway transportation not only considerably reduces labor costs and saves time, but the new option is also safer and more reliable, in addition to other benefits such as freight protection that can better preserve product integrity," explained Wu Kunsheng, the responsible person of Sinotruk Chengdu Commercial Vehicle.

The China-Laos Railway starts at Yunnan Province in the north, and passes through the Mohan Port at the Chinese-Laotian border before arriving at the Laotian capital Vientiane. It is one of the many large-scale projects undertaken between China and ASEAN coutries. The opening of the China-Laos Railway will promote mutually beneficial cooperation between China and Laos, and the interconnectivity between involved regions.

"Focusing on the normalized operation of the China-Laos Railway, Chengdu will partner with Laos to jointly build multimodal transport and transshipment center, storage and logistics industrial park, agriculture demonstration park, etc. based on actual logistics demands, so as to promote the integrated development of transportation and trade," remarked Chen Zejun, General Manager of Chengdu International Railway Service Co., Ltd.

The Chengdu International Railway Port is an important gateway hub for China’s opening-up efforts toward the west and the south. At present, an international train network and global land-sea freight delivery system that revolves around Chengdu, extends westward into Europe, reaches northward in Mongolia and Russia, links eastward with Japan and the Republic of Korea, and expands southward into the ASEAN bloc have been established. At present, this network is connected with 67 cities outside of China and 20 cities within. According to railway-maritime intermodal train departure data on the Chengdu-Qinzhou-ASEAN route, nearly 10,000 containers of train cargoes worth more than USD 100 million were exported southward in 2020. The commencement of the China-Laos Railway will further bolster the Chengdu International Railway Port’s effort in expanding its southward international railway conduits.

Next, the Chengdu International Railway Port will make the most out of the opportunities inherent in the construction of the China-Laos Railway, so as to position Chengdu as an international logistics and transshipment hub that connects inland Europe with East Asia, South Asia and Southeast Asia, as well as a gateway hub linking the pan-Europe and pan-Asia regions with the central and western parts of China. At the same time, efforts will be spared to expand intermediary trade with ASEAN and Europe, and active steps will be taken to create a cross-border international production capacity cooperation demonstration zone.

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=409907
   Caption: Inaugural Departure of International Trains of China-Laos Railway (Chengdu/Chongqing–Vientiane)

PR Newswire

City Transformer Selects Powermat Wireless Technology to Charge New Ultra-Light Foldable Electric Vehicle Designed for Urban Mobility

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The next-generation urban electric vehicle (EV) manufacturer will embed Powermat’s advanced wireless charging system to ensure a seamless connected user experience

TEL AVIV, Israel, Dec. 3, 2021 — City Transformer Ltd., designer of the ultra-light folding electric vehicle for urban applications, today announced a critical partnership with advanced wireless charging technology innovator, Powermat Technologies to integrate the company’s wireless charging system into their all-electric, foldable urban mobility vehicle solution.

Designed to become the world’s first foldable, ultralight EV that intelligently transforms its dimensions to adapt to the complexities of urban environments such as traffic and parking, City Transformer features an intuitive, digitized interface with advanced fleet management and built-in information sharing capabilities. The company plans to assimilate Powermat’s in-vehicle connected wireless charging platform to enhance the vehicle’s advanced mobile connectivity features for enhanced convenience and freedom of use.

"The design of a next-generation vehicle that meets city commuters’ complex demands requires incorporating innovative solutions for an enhanced user experience and the integration of highly personalized technology such as Powermat’s wireless in-vehicle charging technology is an excellent example of our innovation strategy," said Udi Meridor, co-founder and Chief of Strategy and Operations at City Transformer. "We added Powermat’s technology to our lightweight transformable EV to ensure each journey will have access to a seamless charging experience while commuting around cities."

Powermat’s in-cabin wireless charging system combined with the advanced connectivity key features found in City Transformer’s vehicles include:

  • Powermat Qi®15w in-cabin universal wireless charging system with extended power protocol specifications, allows users to freely charge any mobile device while using the EV conveniently.
  • Powermat’s Smart Inductive™ technology that combines vehicle communication interfaces with an extended charging range per coil.
  • The technology is proven to be automotive-grade and CISPR 25 Class 5 certified, with an enhanced focus on advanced quality factor foreign object detection capabilities. 

"To enhance the user experience of driving in a City Transformer ultra-light EV, Powermat’s wireless charging technology provides an interconnected, personalized charging solution that offers seamless connectivity features," said Ronen Diamant, VP Sales at Powermat. "City Transformer is a perfect fit for our wireless power solutions and will enable us to continue improving our technology and the customer experience. This strategic relationship answers the EV industry’s demand for a connected, convenient solution for mobility and automotive technology in urban settings."

ABOUT POWERMAT

Powermat specializes in delivering tailor-fitted turnkey in-vehicle wireless charging reference designs for automotive OEMs, global tier-1 suppliers, robotics, and more. Powermat’s in-car 15W Qi® certified reference designs and connected mobile experience offering wireless power and NFC are ready for in-cabin integration and provide a full-performance automotive in-cabin system for vehicles, two-wheelers, public transportation, and aviation.

With over 200 patent submissions and over 100 granted patents dating back to 2007, Powermat enables OEMs, Automakers, and Tier-1 suppliers worldwide to incorporate advanced wireless charging and customize solutions for unique use cases. The company’s field-proven inductive in-car wireless charging technology is already embedded in over 8 million vehicles and adopted by global market leaders such as General Motors, Visteon, and Harman International.

ABOUT CITY TRANSFORMER

City Transformer develops the world’s first all-electric mobility solution that intelligently transforms its dimensions and riding behavior while driving to meet the complex challenges and needs of those who call the world’s largest cities "our home." Designed by city people around what city people truly need, City Transformer electric vehicles park and outsmart traffic like a motorcycle while riding safely and conveniently like a car. City Transformer was voted one of the "top 10 cars of IAA mobility 2021" and named one of the "best inventions of 2020" by Time magazine.

City Transformer vehicles are engineered for superior city riding experiences without compromise, with superior maneuvering capabilities, exceptional parking properties, exceptional low total cost of ownership, and 75% space savings. City Transformer is built on top of a patented highly fleet-ready modular platform that provides outstanding freedom of cabin design for multiple bespoke applications & flexible engagement models.

Media Contact:
Annika Harper
Antenna Group for Powermat Technologies
annika.harper@antennagroup.com

PR Newswire

CLROBUR successfully showcases drone delivery in Yeongwol with 3D UAM/UTM system

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SEOUL, South Korea, Nov. 26, 2021 — CLROBUR‘s DROW, an AI-integrated automatic flight ground control platform (GCP) that uses urban air traffic management (UATM) technology, has opened a new chapter in the field of logistics by delivering a product using an autonomous drone. The company, a member of Born2Global Centre, has been participating in the Born2Global-led effort to create an innovation ecosystem for free economic zones.

 

During a presentation on the establishment of "drone cities," which was held recently in Yeongwol, CLROBUR showcased DROW to the audience. By delivering a box of seasoned fried chicken from a drone hub in Saekyung University to a hub located in front of a drone test site in Yeongwol, the company successfully demonstrated a beyond visual line of sight (BVLOS) flight by an autonomous drone. The company was also able to complete its urban traffic management (UTM) technology, which is necessary to enable autonomous flights with the technological convergence of drone manufacturers, 3D map providers, and telecom companies. DROW, which is equipped with diverse telecommunications protocols, is applicable to many different kinds of drones. Moreover, a commercial drone delivery service connecting a delivery drone hub with several camping sites across Yeongwol is set to be launched by Yeongwol-gun in 2022.

According to the "Korean Urban Air Mobility (K-UAM) Concept of Operations 1.0," which was unveiled in September 2021 by UAM Team Korea—a public-private consultative body sponsored by the South Korean Ministry of Land, Infrastructure and Transport (MOLIT)—air taxis equipped with drone and telecommunications (5G/4G) technologies will become available in Seoul from 2025.

The first phase, set for the period of 2025 to 2029, will involve human pilots, while the second phase, slated for 2030 to 2034, will incorporate remote operation covering metropolitan cities with a seat in the air taxi reserved for a safety staff member. The final phase, planned for after 2035, will feature fully autonomous air taxis with nationwide coverage. Prior to K-UAM commercial operation, MOLIT designated 10 regions, including Yeongwol, Seongnam, Gyeongnam Province, Gwangju, Daegu, Daejeon, Sejong, Ulsan, Jinan, and Seosan, as drone cities and has been carrying out a wide range of drone missions.

For more detailed information on CLROBUR, visit http://clrobur.com/en/.

Media contact

CLROBUR: jacob@clrobur.com 
Born2Global Centre: jlee@born2global.com

PR Newswire

Nisun International Announces Results of 2021 Shareholder Meeting

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SHANGHAI, China, Nov. 20, 2021 — Nisun International Enterprise Development Group Co., Ltd ("Nisun International" or the "Company") (Nasdaq: NISN), a provider of innovative comprehensive solutions through the integration of technology, industry, and finance, today announced the results of its 2021 Annual Meeting of Shareholders that was held on November 19, 2021 in Shanghai, China.

At the meeting, the shareholders:

  • Re-elected Messrs. Christian DeAngelis and Xin Liu to its Board of Directors
  • Ratified the appointment of Wei, Wei & Co., LLP as the Registrant’s independent registered public accountant for the fiscal year ending December 31, 2021

About Nisun International Enterprise Development Group Co., Ltd

Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) is a technology-driven, integrated supply chain solutions provider focused on transforming the corporate finance industry. Leveraging its industry experience, Nisun is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions. Through its subsidiaries, Nisun provides users with professional solutions for technology supply chain management, technology asset routing, and digital transformation of tech and finance institutions, enabling the industry to strengthen and grow. At the same time, Nisun continues to deepen the field of industry segmentation through industrial and financial integration, by cultivating/creating an ecosystem of openness and empowerment. Nisun has built a linked platform that incorporates supply chain, banking, securities, trust, insurance, funds, state-owned enterprises, among other businesses. Focusing on industry-finance linkages, Nisun aims to serve the upstream and downstream of the industrial supply chain while also assisting with supply-side sub-sector reform. For more information, please visit http://ir.nisun-international.com.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain information about Nisun’s view of its future expectations, plans and prospects that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Nisun encourages you to review other factors that may affect its future results in Nisun’s registration statements and in its other filings with the Securities and Exchange Commission. Nisun assumes no obligation to update or revise its forward-looking statements as a result of new information, future events or otherwise, except as expressly required by applicable law.

Contacts:

Nisun International Enterprise Development Group Co., Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com

ICR, LLC
Tel: +1 203 682 8233
Email: nisun@icrinc.com

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PR Newswire

StradVision Showcasing Latest Technology for Autonomous Vehicles at Automotive Tech Week 2021

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Vision processing pioneer will be demonstrating newest software for ADAS systems and AVs on-site at Novi event, Nov. 16-17

NOVI, Mich., Nov. 12, 2021 — StradVision, a leader in computer vision technology for Autonomous Vehicles and ADAS systems, is demonstrating its latest technologies on-site Nov. 16-17 at Automotive Tech Week 2021, which will be held at the Suburban Collection Showplace, 46100 Grand River Avenue in Novi.

The weeklong Automotive Tech Week 2021 explores the latest technology trends being embraced by leading players in the automotive world – including electrification and autonomy. New technologies for ADAS systems that StradVision will unveil and demonstrate at the event are:

 

  • Depth-map Solution: The latest feature implementing innovative Pseudo LiDAR technology, which replaces high-cost and high-performance LiDAR equipment. Offering the high precision of distance measurement to an object with only a mono-channel camera
  • Semantic Segmentation: A technology that classifies objects by analyzing the images acquired through the vehicle’s camera on a pixel-by-pixel basis through deep learning technology
  • Multi-camera 360-degree perception:  This technology uses up to 9 cameras, which is critical to implement autonomous driving features of L3 or above, such as Automated Valet Parking (AVP), and Enhanced Autopilot

"I look forward to our time at Automotive Tech Week 2021, and showcasing the innovative technologies StradVision is unveiling at the event," Sunny Lee, StradVision’s Chief Operating Officer who is leading StradVision’s team at the event said. "As we continue to ramp up our presence in Michigan, the heart of U.S. auto industry, events like this let us get our product in front of key industry leaders who are on board with our mission of using technology to achieve the safest possible experiences with ADAS systems and autonomous driving."

StradVision’s SVNet is a lightweight software that allows vehicles to detect and identify objects accurately, such as other vehicles, lanes, pedestrians, animals, free space, traffic signs, and lights, even in harsh weather conditions or poor lighting. 

SVNet’s software relies on deep learning-based perception algorithms, which compared with its competitors is more compact and requires dramatically less memory and electricity to run. SVNet supports more than 14 hardware platforms and can also be customized and optimized for any other hardware system thanks to StradVision’s patented and cutting-edge Deep Neural Network-enabled technology. 

SVNet is currently used in mass production models of ADAS and autonomous driving vehicles that support driving automation levels 2 to 4 and is being deployed in over 50 vehicle models from 13 OEMs worldwide. 

The full Automotive Tech Week 2021 event runs online from Nov. 15-19, and in-person hours will be on-site in Novi from 8 a.m. to 4 p.m. on Nov. 16 and Nov. 17. StradVision will be located at Booth #743 at the event both days.

About StradVision Inc.
Founded in 2014, StradVision is an automotive industry pioneer in AI-based vision processing technology for Advanced Driver Assistance Systems (ADAS). The company is accelerating the advent of fully autonomous vehicles by making ADAS features available at a fraction of the market cost compared with competitors. StradVision’s SVNet is being deployed on 50+ vehicle models in partnership with 13 OEMs and powers ADAS & Autonomous Vehicles worldwide and is serviced by over 200 employees in Seoul, Detroit, San Jose, Tokyo, Shanghai, and Munich. The company received the 2020 Autonomous Vehicle Technology ACES Award in Autonomy (Software Category). In addition, StradVision’s software is certified to the ISO 9001:2015 international standard.

PR Newswire

Nisun International Reports Unaudited Operational Results for the Nine Months Ended September 30, 2021

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SHANGHAI, Nov. 10, 2021 — Nisun International Enterprise Development Group Co., Ltd ("Nisun International" or the "Company") (Nasdaq: NISN), a provider of innovative comprehensive solutions through the integration of technology, industry, and finance, today announced its unaudited operational results for the nine months ended September 30, 2021.

Mr. Xiaoyun Huang, Chairman and Chief Executive Officer of Nisun International, commented, "We are pleased to announce a robust earnings quarter, with net income of approximately $20 million for the nine months ended September 30, 2021. As we continue to strengthen our core business, we will expand our overall capabilities to better serve our existing customers. At the same time, we will continue to actively expand our customer base and create long-term value for our shareholders."

Operational Results for the Nine Months Ended September 30, 2021

The following table presents an overview of the Company’s unaudited results of operations for the nine months ended September 30, 2021:

For the
Nine Months
Ended
September 30,
2021

(Unaudited)

Revenue

$

106,784,001

Cost of revenue

73,703,349

Gross profit

33,080,652

Operating expenses

9,382,713

Income from operations

23,697,939

Other income, net

1,826,465

Income before income taxes

25,524,404

Income taxes

5,570,324

Net income

$

19,954,080

Net income per common share

$

0.97

Weighted average number of shares outstanding

20,555,768

 

Revenues

Total revenue was approximately $106.8 million for the nine months ended September 30, 2021.

  • Revenue generated from Small and Medium Enterprise (SME) financing solutions services was approximately $58.4 million, as the Company provided comprehensive financing solutions to SMEs in China seeking alternative financing solutions to bank financing.
  • Total supply chain transaction volume was approximately $329.7 million for the nine months ended September 30, 2021.
  • Revenue generated from sales of merchandise was approximately $44.2 million, attributable to the launch of the Company’s supply chain trading business after generating high-quality customers and resources through its supply chain solution business.

For the Nine Months Ended
September 30,
2021

(Unaudited)

%

Revenue generated from service

Small and Medium Enterprise financing solutions

$

58,438,245

55

%

Supply chain financing solutions

4,184,441

4

%

Other financing solutions

582

0

%

Total revenue generated from service

62,623,268

59

%

Revenue generated from sales

Merchandise sales

44,160,733

41

%

Total revenue

$

106,784,001

100

%

 

Cost of Revenue

The cost of revenue was approximately $73.7 million for the nine months ended September 30, 2021, which primarily comprised of approximately $43.9 million in cost of sales of merchandise sold, approximately $19.1 million in direct operational costs from SME financing solutions, and approximately $10.0 million in direct costs associated with staff who designed and managed SME financing solutions, supply chain solutions, and other financing solutions businesses.

Operating Expenses

For the Nine Months Ended
September 30,
2021

(Unaudited)

%

Selling expenses

$

2,294,598

24

%

General and administrative expenses

6,195,402

66

%

Research and development expenses

892,713

10

%

Total cost of revenue

$

9,382,713

100

%

 

Selling, general and administrative expenses are comprised of indirect advertising and marketing costs, office rent and expenses, costs associated with staff and support personnel who manage the Company’s business activities, and professional fees paid to third parties. 

Net income and net income per share

For the nine months ended September 30, 2021, the Company had net income of approximately $20.0 million and net income per share of $0.97.

The Company did not compile quarterly information for the nine months ended September 30, 2020. As such, comparative data is not available at this time.

About Nisun International Enterprise Development Group Co., Ltd

Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) is a technology-driven, integrated supply chain solutions provider focused on transforming the corporate finance industry. Leveraging its industry experience, Nisun is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions. Through its subsidiaries, Nisun provides users with professional solutions for technology supply chain management, technology asset routing, and digital transformation of tech and finance institutions, enabling the industry to strengthen and grow. At the same time, Nisun continues to deepen the field of industry segmentation through industrial and financial integration, by cultivating/creating an ecosystem of openness and empowerment. Nisun has built a linked platform that incorporates supply chain, banking, securities, trust, insurance, funds, state-owned enterprises, among other businesses. Focusing on industry-finance linkages, Nisun aims to serve the upstream and downstream of the industrial supply chain while also assisting with supply-side sub-sector reform. For more information, please visit http://ir.nisun-international.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains information about Nisun’s view of its future expectations, plans and prospects that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Nisun encourages you to review other factors that may affect its future results in Nisun’s registration statements and in its other filings with the Securities and Exchange Commission. Nisun assumes no obligation to update or revise its forward-looking statements as a result of new information, future events or otherwise, except as expressly required by applicable law.

Contacts:

Nisun International Enterprise Development Group Co., Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com

ICR, LLC
Tel: +1 203 682 8233
Email: nisun@icrinc.com

Related Links :

http://ir.nisun-international.com

PR Newswire

Scott’s Refrigerated Logistics Improves Operations with Nintex Promapp®

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Leader in cold-chain logistics standardises on visual process mapping software from Nintex to drive operational efficiencies across its organisation

SYDNEY, Nov. 8, 2021 — Nintex, the global standard for process management and automation, announced today that Scott’s Refrigerated Logistics, Australia’s largest fully-integrated cold-chain logistics provider and the market leader in temperature controlled road and rail transport, has standardised on Nintex Promapp® to deliver business process consistency across the company’s seven divisions.

  • To experience how organisations have gained total visibility and control over their business processes with Nintex Promapp®, visit https://bit.ly/3gFqtQX.

Scott’s Refrigerated Logistics provides services to a diversified and blue-chip customer base comprised of food and beverage producers and leading supermarkets. These valued customers are serviced from 24 cold storage facilities across all Australian mainland states with a transport fleet of approximately 600 trucks and 450 rail containers. The company has around 2,000 employees and more than 1,000 customers.

"Ultimately, we want to ensure that we are aligned around one consistent process across all business activities to support visibility between different divisions, reduce manual and paper-based processes, and drive staff accountability," said Craig Lee, Business Process Manager, Scott’s Refrigerated Logistics. "Nintex will support us in this quest, equipping the business with capabilities to deliver process excellence across all the divisions and states we operate in helping enhance our customer-focused culture, ensuring that integrity and customer service remain the cornerstone of our success."

Rapid results and improvements

Scott’s Refrigerated Logistics was recently acquired by Anchorage Capital Partners and consulted Affinity Education Group—also previously acquired by Anchorage Capital Partners—to learn how Affinity successfully implemented Nintex Process Platform process management capabilities to create consistent processes and support compliance requirements across their network of 150 childcare centres nationwide.

Scott’s Refrigerated Logistics decided to invest in the Nintex Process Platform to develop an intuitive, visible and easy-to-use framework of processes that support complex compliance requirements and the ongoing digitising of legacy, paper-based processes, along with built-in automation functionality to update processes in real-time.

Lee explained, "We could clearly see the benefits of Nintex within Affinity Education Group and concluded that we could also transform our business by leveraging the process management and automation capabilities of Nintex. This will help support centrally-held processes which can be updated and shared with all key stakeholders, provide for one source of truth, as well as drive greater compliance and accountability across business divisions as diverse as human resources, commercial and fleet management."

In line with Scott’s Refrigerated Logistics’ commitment to continuous improvement and constantly evolving in response to market conditions and individual customers’ demands, the organisation has identified more than 100 processes which will now be standardised on Nintex across seven functions. Deployment has already commenced with Nintex supporting new processes being developed across customer service, pick-up and delivery, and time management. Standardisation on Nintex will enable rapid changes and improvements to everything from delivery docket procedures to incident management and customer experience.

"Managers working with these new processes will enjoy the benefits of having one centralised, searchable source of truth where changes update automatically. By embracing new technologies such as Nintex, Scott’s Refrigerated Logistics will maintain our market leading position and refrigerated logistic provider of choice across Australia," concluded Lee.

Media Contact
Laetitia Smith 
Nintex laetitia.smith@nintex.com
cell: +64 21 154 7114

About Nintex
Nintex is the global standard for process management and automation. Today more than 10,000 public and private sector organisations across 90 countries turn to the Nintex Platform to accelerate progress on their digital transformation journeys by quickly and easily managing, automating and optimising business processes. Learn more by visiting www.nintex.com and experience how Nintex and its global partner network are shaping the future of Intelligent Process Automation (IPA).

Product or service names mentioned herein may be the trademarks of their respective owners.

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Related Links :

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