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PR Newswire

MissFresh Launches in Ningbo, Adding 17th City as National Expansion Gains Pace

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NINGBO, China, Aug. 1, 2021 — MissFresh Limited ("MissFresh" or the "Company") (NASDAQ: MF), an innovator and leader in China’s neighborhood retail industry, has launched its Distributed Mini Warehouse-supported fast home delivery operations in Ningbo, offering a range of more than 4,300 products to be delivered in 39 minutes on average. With this latest expansion, MissFresh strengthens its Distributed Mini Warehouse (DMW) network – which integrates warehousing, sorting and distribution to streamline the retail distribution chain – in East China and now operates in 17 first- and second-tier cities.

According to the City Ranking for Business Attractiveness 2021 by the Yicai Big Data Project, Ningbo and 14 other cities were included on the "New First-tier Cities List". With a population of more than 9.4 million, there is high demand in Ningbo for convenient online shopping and fast home delivery of high-quality fresh produce and fast-moving consumer goods. MissFresh’s launch in Ningbo is in line with its strategy to continuously expand its DMW network in first- and second-tier cities. The launch will also bolster MissFresh’s East China regional supply chain and operations.

To start, MissFresh plans to open 10 DMWs in Ningbo – covering Yinzhou, Haishu and other core urban areas of the city – and provide customers with fruits, vegetables, meat, eggs, live seafood, rice, noodles, grains, oil, convenience foods, and other high-quality products. These will be delivered swiftly to customers’ homes within the DMWs’ one- to three-kilometer radius. Over the next six months, MissFresh plans to open a total of about 25 DMWs in Ningbo, covering most of the city’s core areas.

Since its establishment, MissFresh has prioritized the development of its supply chains. Currently, more than 80% of the company’s products are directly sourced from the place of origin, and 100% of its fresh products are subject to strict quality inspection – this helps MissFresh to ensure that its products are the best value for its customers. At the same time, the company closely controls food safety and product quality. Factoring in Ningbo citizens’ love of seafood, MissFresh also provides a selection of fresh and chilled products as well as foods from local brands.

In addition to Ningbo, MissFresh plans to expand its DMW-supported fast home delivery retail business to more second-tier cities, and will also increase its efforts to digitalize and upgrade traditional fresh markets into Intelligent Fresh Markets.

PR Newswire

UL Acquires Method Park

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The acquisition deepens UL’s automotive and medical device sector safety and security expertise.

NORTHBROOK, Ill., July 21, 2021 — UL, the global safety science leader, today announced its acquisition of German-based Method Park, a company specializing in process engineering, software solutions, training and advisory services focusing on the safety critical aspects of the automotive, medical and aerospace industries. The deal fortifies UL’s expertise to help customers advance innovation safety, business transformation, and regulatory and standards compliance.

UL_Method_Park
UL_Method_Park

"With accelerating technology in safety critical industries, such as automotive and medical devices, the introduction of innovative technologies that provide enhanced convenience also presents new challenges," said Jennifer Scanlon, president and CEO, UL Inc. "Helping ensure their safe and secure deployment will be key in how quickly these innovations are adopted. The Method Park acquisition will build upon on UL’s science-based core expertise in testing, inspection and certification and help address the safety risks of exciting innovative technologies. Together, we will empower our customers with the ability to embrace new opportunities."

Specializing in complex process-based product engineering, Method Park’s portfolio includes advisory services, a digital compliance software solution, a comprehensive training portfolio and software solutions for multiple industries. Founded in 2001, the company has also provided insight to customers on process optimization and quality assurance management. 

"By offering a differentiated customer experience, unmatched thought leadership and solutions, and a best-in-class knowledge platform, UL works to be the global market acceptance and risk mitigation partner of choice for our customers," said Weifang Zhou, UL’s executive vice president and president of Testing, Inspection and Certification. "The Method Park team strategically aligns with that approach and will help us deliver on serving as our customers’ most trusted science, security and sustainability partner."

Headquartered in the Bavarian city of Erlangen, Method Park has offices throughout Germany, including Berlin, Frankfurt, Hamburg, Munich and Stuttgart, with additional facilities in Detroit, Miami, Pittsburgh and Shanghai. With the acquisition, Method Park’s more than 200 employees will join UL to focus on innovative solutions to complex safety and security issues affecting multiple industries.

"We are excited to join forces with UL," said Professor Bernd Hindel, founder and CEO of Method Park. "As a combined team, we will offer our customers best-in-class services that will help them get to market faster and more efficiently. Our group’s shared reputation will allow us to significantly accelerate customer access to a broader range of complementary solutions and expertise, extend services across global markets and help deliver on the promise for a safer and more secure world.”

The transaction closed on July 20. Terms of the acquisition were not disclosed.  

About UL
UL is the global safety science leader. We deliver testing, inspection and certification (TIC), training and advisory services, risk management solutions and essential business insights to help our customers, based in more than 100 countries, achieve their safety, security and sustainability goals. Our deep knowledge of products and intelligence across supply chains make us the partner of choice for customers with complex challenges. Discover more at UL.com.

For information about Standards development and other nonprofit activities, visit UL.org.

Press contact:
Steven Brewster
UL
ULNews@UL.com 
1+847.664.8425

 

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PR Newswire

Dynamic Solutions HK Limited Set to Trial Wireless Electric Car Charging

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HONG KONG, July 20, 2021 — Technology start-up Dynamic Solutions HK Limited has revealed it will begin trialling wireless charging devices that will charge electronic vehicles as they are parked. The innovative induction pads will be installed at the firms’ test center, with in-depth trials expected to start early next month.

David Zhongyi, who heads up the Investor Relations department at Dynamic Solutions HK Limited, said, "Our wireless electric vehicle charging pads will eliminate the need for large, unsightly charging points which are beginning to clutter our cities. The pads will be built into the ground, and they will pump out alternating ultrasonic waves that convert into electricity when the car is parked above."

Once the trials begin, Dynamic Solution HK Limited engineers will test the technology in various situations for speed, accuracy, and robustness through differing weather conditions. They will also test how easily the technology can be built into older electronic vehicles. 

"Electric Vehicle manufacturers are now incorporating induction charging technology with their new models; however, there is only a small number of induction-enabled electric vehicle charge points installed throughout Hong Kong at the moment. We are aiming to help change that here and throughout Asia," David Zhongyi continued.

Establishing more charging outlets has become a major requirement in recent years as the climate emergency continues to pressure local authorities. Despite this, the current infrastructure has been unable to meet the high demand for electric cars.

The limited supply of curbside charging stations for electric vehicles is causing rising concern. Residents say that the ones that have been installed are cluttering the streets and footpaths. They are also subject to vandalism and damage. All of these are issues that Dynamic Solutions HK Limited’s underground wireless charging pads do not have.

About
Since Dynamic Solutions HK Limited was created in 2012, the company has been investing in research and development that is paving the way for future technology and how we charge electronics. Our technology has been developed to use ultrasonic waves to charge electronic devices.

Media Contact
Dynamic Solutions HK Limited
Mr. David Zhongyi, +852 2319 4422
Investor Relations

Email: info@wirelessdynamic.com
Website: www.wirelessdynamic.com 

 

PR Newswire

eCommerce to Emerge as Mainstream Distribution Channel in Global Automotive Aftermarket by 2025

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Revenues from online sales in the aftermarket are estimated to grow at 14% in 2021, finds Frost & Sullivan

SANTA CLARA, Calif., July 13, 2021 — Frost & Sullivan’s recent analysis, Global Aftermarket Outlook, 2021, finds that the global automotive aftermarket will gather momentum this year as a slowdown in new vehicle sales due to the impact of COVID-19 and aging vehicle parc will create more opportunities in the aftermarket space. With the availability of vaccines and lockdown lifts, the market is estimated to garner $478.8 billion by 2025 from $362.21 billion in 2020, an uptick at a 5.7% compound annual growth rate (CAGR). Additionally, while the global demand will exceed the pre-COVID levels in 2022, the market will likely increase by 7.1% in 2021, with revenues from online sales in the aftermarket estimated to grow at 14%.

Global Automotive Aftermarket
Global Automotive Aftermarket

China leads the world in terms of innovating with new business models for retail. Its vehicle population is currently only behind North America and is well poised to overtake it, resulting in tremendous demand potential. In Europe, EV servicing and repair is in demand, whereas, in North America, the preference for personal vehicles rather than shared mobility will promote used cars sales. In India, the vehicle Scrappage Policy announced at the beginning of 2021 could boost new vehicle sales and potentially help increase the used and remanufactured parts aftermarket.

For further information on this analysis, please visit: http://frost.ly/5y7

"As customers shifted away from using public/shared transport in 2020, sales of used cars witnessed a boom during the same period across regions, thereby presenting potential business prospects for service providers to engage with independent aftermarket manufacturer (IAM) service contracts," said Anuj Monga, Mobility Research Analyst at Frost & Sullivan. "In addition, the increasing proliferation of alternative powertrain vehicles is creating new categories in the parts and services aftermarket and promoting newer business models for fulfillment."

Monga added: "Rising customer exposure to digital channels across lifestyle aspects will push aftermarket stakeholders to invest aggressively in digitization beyond parts retail and even workshop services. Market players should further explore building dedicated digital platforms on offline networks offering standardized quality services for a variety of vehicle types, especially in company and retail fleets."

Industry players should look into the following growth opportunities:

  • Online Sales of Replacement Parts and Accessories: To leverage the heightened exposure to their websites, marketplace and pure-play operators will need to deliver higher value to their customers by ensuring delivery and fulfillment.
  • ADAS Sensor Recalibration Services: Though most of the demand for advanced driver-assistance systems (ADAS) sensor recalibration services is fulfilled at the original equipment (OE) dealerships, IAM stands a chance in the medium to long term.
  • New Product Categories: Aftermarket products and services related to health, wellness, and wellbeing present a sizeable multibillion-dollar opportunity over the next three to four years.

Global Aftermarket Outlook, 2021 is the latest addition to Frost & Sullivan’s Mobility research and analyses is 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 six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion

Global Aftermarket Outlook, 2021

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Contact:

Zuzana Zukarnain
Global Corporate Communications
E: zuzana.zukarnain@frost.com
http://ww2.frost.com

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PR Newswire

KYMCO and Taiwan Taxi Announce Partnership to Electrify Taiwan’s Largest Two-wheeler B2B Delivery Fleets with Ionex

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TAIPEI, July 9, 2021 — KYMCO announced a strategic partnership with Taiwan Taxi to transform the 26,000 two-wheeler delivery fleets operated by its subsidiary GBG Express to Ionex electric vehicles. GBG Express is the largest B2B delivery company in Taiwan specializing in last-mile delivery. It has 40,000 corporate clients from more than 100 industries, including most of Taiwan’s leading on-line retailers.

CBG Express will use a digital technology platform to ride on KYMCO lonex electric motorcycles
CBG Express will use a digital technology platform to ride on KYMCO lonex electric motorcycles

An integral part of the partnership will be KYMCO’s deployment of dedicated Ionex battery swapping stations at GBG Express operation centers across Taiwan. Both companies will jointly develop Ionex electric vehicles optimized for delivery purposes and promote viable incentive schemes to accelerate EV adoption of GBG Express’s rider partners.

"KYMCO Ionex is the leading EV turnkey solution that empowers all businesses and governments to go electric," said Allen Ko, Chairman of KYMCO Group. "The partnership with Taiwan Taxi is another important testament of KYMCO’s commitment to lead the world in bringing the electric era to every rider."

"The partnership with KYMCO creates a win-win situation for everyone," said Gary Lin, Chairman of Taiwan Taxi Group. "It demonstrates our continuous efforts to seek new opportunities to better service to our riders and customers, as well as to build an environmentally sustainable transport network with leading strategic partners and pioneering technologies."

KYMCO is on an accelerating path to building the largest battery swapping network in Taiwan. With the addition of the in-house battery swapping stations deployed for GBG Express, the partnership aims to electrify more than 50% of the 26,000 GBG Express rider partners to Ionex electric vehicles by 2023.

ABOUT KYMCO

KYMCO is one of the global leading powersports brands. KYMCO’s mission is to create personal vehicles that win the hearts of consumers all over the world. KYMCO always goes above and beyond to bring to customers the most thoughtful riding experience for everyday life. KYMCO’s current product range includes scooters, motorcycles, mobility scooters, ATVs and utility vehicles.

www.kymco.com  

ABOUT TAIWAN TAXI

Taiwan Taxi is the largest taxi service company in Taiwan, managing 22,000 taxies, servicing 350,000 customers per day and accounting for 24% total market share. Beyond taxi services, Taiwan Taxi has used advanced technologies to build upon its vast network of taxies to provide services that take care of the daily needs of both consumers and businesses.

www.taiwantaxi.com.tw

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PR Newswire

Meituan Unveils Self-Developed Drone Model, Plans for Drone Logistics Network at 2021 World Artificial Intelligence Conference

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HONG KONG, July 8, 2021 — Meituan (HKG: 3690) (the "Company"), China’s leading e-commerce platform for services, today introduced a new, self-developed drone model and announced plans for a drone logistics network pilot program in Shanghai. The announcement was made at the 2021 World Artificial Intelligence Conference (WAIC) in Shanghai, where Meituan demonstrated how drones and delivery riders could conceivably work together to deliver orders.

In a partnership with local government, Meituan will explore opportunities for the construction of a demonstration center in Shanghai’s southwestern district of Jinshan; this center will run pilot operations for an urban low-altitude logistics network, the first of its kind to be established in China. The three-pronged network of drones, ground support infrastructure (landing ports, battery changing stations), and cloud-based dispatching systems will aim to achieve 15-minute delivery time for destinations within a three kilometer radius.

"Low-altitude logistics networks in urban areas will present an important growth opportunity for innovation and technology over the coming 10 to 20 years," said Puzhong Wang, Meituan Senior Vice President and head of the company’s on-demand delivery business. "Our efforts reflect Meituan’s hopes to use inclusive technology and innovation to help people live better."

"This network would enable us to adapt to different delivery scenarios across residential communities, shopping malls, office buildings, etc.," said Yinian Mao, head of Meituan’s drone delivery unit. "We envision a collaborative, integrated network where our drones and delivery riders can work seamlessly together to deliver orders."

A Meituan drone grasps a delivery box at the 2021 World Artificial Intelligence Conference in Shanghai
A Meituan drone grasps a delivery box at the 2021 World Artificial Intelligence Conference in Shanghai

Meituan began exploring drone delivery opportunities in 2017. In early 2021, Meituan’s efforts reached a milestone when its drones delivered meals to customers in Shenzhen for the first time. Riders would pick up orders from merchants and take them to drone launching pads for last-mile delivery. Drones would then deliver them to special drone drop-off lockers, after which users could scan QR codes to pick up the orders. In June, Meituan also used drones to deliver vital supplies to residents in Shenzhen’s Nanshan district, who were isolated by a COVID-induced quarantine.

As of June 2021, Meituan’s drones have completed over 200,000 flight tests and delivered over 2,500 orders. Meituan has now completed the preliminary development stages for its drones and dispatching systems, with over 90% of its core systems and components developed in house.

About Meituan

Meituan (HKG: 3690) (the "Company") is China’s leading e-commerce platform for services. With the mission of "We help people eat better, live better," the Company’s platform uses technology to connect consumers and merchants. Service offerings on the platform address people’s daily needs for food, and extend further to broad lifestyle and travel services. Meituan is the world’s leading on-demand food delivery service provider and China’s leading e-commerce platform for in-store dining services. Meituan helps consumers discover merchant information, make informed decisions, complete online and offline transactions and enjoy on-demand delivery. The Company currently owns several household brands in China, including Meituan, China’s leading online marketplace for services, Dianping, China’s leading online destination for discovering local services, Meituan Waimai for on-demand delivery services, and Meituan Bikes for bike-sharing services. Meituan has 569.3 million Annual Transacting Users and 7.1 million Annual Active Merchants as of March 31, 2021. The Company operates in over 2,800 cities and counties in China.

For media inquiries, please contact:

Meituan
pr.global@meituan.com

Edmond Lococo
ICR Inc.
Email: Edmond.Lococo@icrinc.com
Tel: +86 138-1079-1408

 

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PR Newswire

Suning.com Empowers Local Rice Brand with Tailored Farm-To-Table Approach During 618 Shopping Festival

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NANJING, China, July 2, 2021 — Suning.com ("the Company"; 002024.SZ), China’s leading smart retail service provider and a Fortune Global 500 company owned by Suning Group, has successfully boosted the sales of high-quality agricultural products and brought a change to local agricultural brands with its industry-leading strengths in supply chain, logistics and retail sales, as the Company wrapped up its 618 shopping festival campaign.

During the 618 promotion, one of the largest of the year, Suning.com has made agricultural products one of the key focuses, in addition to cosmetics, home appliances and other consumer-electronic items.

Specifically, Suning.com has made efforts in promoting Wuchang rice under the Sutian brand name, as part of the Company’s tailored marketing strategy to boost and support agricultural products from rural areas. During the promotion, Sutian’s rice sold about 40 tons a day, reflecting Suning.com’s ongoing efforts to brand and promote these types of agricultural products.

The Sutian brand marks another successful attempt for Suning.com in helping agricultural brands to jump on the e-commerce bandwagon. Since 2019, Suning.com has actively identified quality agricultural products in a bid to help local farmers directly bring their products to more consumers across the country and in turn help consumers receive products directly from the source. Such a farm-to-table approach has been well received and recognized by both farmers and consumers alike, as it reduces costs for farmers and offers cheaper prices for consumers.

China’s Wuchang rice has been dubbed one of the best rice products in China with its annual production reaching about 500,000 tons. However, there has been knock-off Wuchang rice available on the market that uses Wuchang branding. Suning.com has joined forces with Wuchang Shanxiang Rice, a local rice farming company, to rebrand the local company’s old "Gu Uncle" brand and re-branded its Wuchang rice under the brand name of Sutian, so that consumers would no longer need to worry about counterfeits.

To ensure the best quality of Sutian rice, Suning.com fully participates in the operations of the product, including research, farming, packaging, marketing and sales on all the Company’s online and offline marketplaces. Suning.com even promoted the product through livestreaming sales.

Zhang Kui, president of Suning Social E-Commerce, said that the Sutian rice brand is a perfect example that showcases Suning.com’s goal of boosting the local agriculture industry, creating a more enhanced ecosystem and facilitating an industry upgrade.

A manager in charge of Wuchang Shanxiang Rice said that "we have not only obtained the brand endorsement with Suning’s support, but also optimized our operations to serve customers, which has led to a significant rise in sales volume and repurchases."

On June 1 alone, such Sutian rice sold 40 tons. To date, Sutian rice, supported by Suning, has a total farming area of over 300,000 mu (about 49400 acres), which can produce about 120,000 tons of rice. Since last December when Sutian rice was put onto the Suning marketplace, it has sold about 5 million kilograms.

About Suning Group

Founded in 1990, Suning Group has two listed subsidiaries at home and abroad and more than 300,000 employees around the world, ranking third in the Chinese private sector. Being committed to its mission of Leading the Industrial Advancements in Creating a Higher Quality of Life for All, it provides quality products and services to more than 700 million customers worldwide and its business scope covers three main sectors: Retail, Real Estate, and Financial Service. Suning.com, the main subsidiary is a leading O2O smart retail service provider in China. In 2020, Suning.com maintained its position among the Fortune Global 500 and topped the 2020 List of China’s 500 Most Valuable Brands with a brand value of RMB 296.815 billion.

PR Newswire

Cloud-based enterprise software provider Eka to transform corporate treasury operations with a new, purpose-built, state-of-the-art solution

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– Eka acqui-hires banking and finance tech start-up Trxiea;

– Devanshu Bhatt joins leadership team as SVP, Treasury Solutions

NEW YORK, June 23, 2021 — Eka Software Solutions, a cloud-based enterprise solutions provider, announced today it has shored up a team of industry experts tasked with delivering a new solution to dramatically transform corporate treasury operations. This new business initiative will be led by Devanshu Bhatt, former India Head of ION’s Corporate Treasury Group. Eka also completed the acqui-hire of banking and finance start-up Trxiea Platforms and Solutions, whose highly experienced team will help accelerate the treasury solution’s time-to-market.

The strategic hires are part of Eka’s ongoing effort to expand its state-of-the-art cloud platform into a comprehensive multi-solution platform for global enterprises. The newly assembled team was curated to develop a purpose-built, cloud-native corporate treasury solution that provides CFOs with a complete, real-time view across their entire enterprise by unifying disparate applications across procurement, banking, financial planning, risk management.

Manav Garg, Eka Founder and CEO said, "We have a clear vision of building a robust treasury solution that joins the dots across the organization, so that CFOs can operate from one single, trusted source of truth, rather than trying to piece together information from disparate systems and departments. To do this, we have built a team of incredible subject matter experts, and we are extremely excited to translate our vision into a transformative product over the coming months."

A Best-in-Class Team

Devanshu Bhatt brings over 20 years of treasury and finance product management and development experience. Prior to ION, Devanshu led Product Development for Reval, ION Treasury’s cloud-based solution. Joining Bhatt is the highly experienced Trxiea team, co-founders Renju Balu and Dr. Trib Kharkwal who holds a Ph.D. in operations research.

Eka is a strong proponent of digitalizing critical business processes, as part of its ‘Mission Digital’ effort with an innovative solution-driven approach that delivers:

  • automated workflows to drive business resiliency;
  • simplified interface to support new ways of bringing employees, processes, and technologies together;
  • instant access to buyers and suppliers across the supply chain;
  • fast and flexible integration with pre-built connectors to ERP, CRM and Market data

About Eka Software Solutions

Eka is a global leader in providing innovative, cloud driven solutions that help digitize and improve business functions across supply chain and financial management. Read more at www.eka1.com .

Contact:
Sharmita Mandal
Head Global Communications
Eka Software Solutions
Sharmita.mandal@eka1.com

 

PR Newswire

Increased and Evolving Threats Heighten the Demand for Port Security Solutions and Enhanced Safety Technology

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New port developments in the APAC, Africa, and the Middle East will push security spending, reveals Frost & Sullivan

SANTA CLARA, Calif., June 21, 2021 — The shipping industry is responsible for about 90% of global trade by volume. Frost & Sullivan’s recent analysis on the global maritime port security market finds that governments are prioritizing the safe and secure transportation of goods to ensure economic stability and growth. The sector is being driven by increased threats to port operations, terminal expansions and new ports, soaring traffic, and the acceleration of digital transformation. In addition, a rise in surveillance spending with a large number of new port developments, especially in the Asia-Pacific (APAC), Africa, and the Middle East regions, and technology upgrades in large and established ports internationally are propelling the demand for maritime port security solutions. As a result, the industry is estimated to hit $9.10 billion by 2030 from $6.74 billion in 2020, a 3% upsurge in the compound annual growth rate (CAGR). Among key technologies, cybersecurity is expected to generate the highest revenue—$4.08 billion, followed by screening and detection at $1.69 billion, by 2030.

Port and maritime security
Port and maritime security

For further information on "A Dynamic Threat Landscape Propels the Global Maritime Port Security Market" analysis, please visit: http://frost.ly/5r8.

"Ports remain a major safety concern as a critical component of global supply chains and commerce. Any disruption at ports would affect the interconnected transportation, energy production, and manufacturing industries and have far-reaching economic consequences across a country or even a larger region," said Aravind Srimoolanathan, Industry Analyst, Aerospace, Defense & Security Practice, Frost & Sullivan. "As ports recover from the impact of the pandemic, vessel traffic is anticipated to recover within two to three years to cater to the global demand, thus encouraging ports to invest more in solutions for infrastructure safety and to handle congestion. Demand for additional software for screening equipment and its integration into the overall port security will intensify."

Srimoolanathan added: "Port digitalization for tracking and coordination of vessels and cargo has the dual goals of lowering operational expenditure and improving efficiency, thereby unlocking opportunities for safety upgrades. Hence, security providers must consider the best ways to optimize cargo screening and detection, surveillance, and perimeter security by deploying data analytics and artificial intelligence (AI) as they enhance existing security systems’ accuracy in identifying and thwarting threats."

Companies need to pursue groundbreaking ideas and develop novel cyber-resilient technologies to proactively counter the ever-evolving cyber threats. To achieve this, market participants should focus on:

  • Integrated systems for effective security operations: As new technologies and applications emerge, there can be uncertainty among end users. New technologies that integrate easily, with a clear and straightforward interface that requires minimal training for security employees, will appeal to the end users.
  • Managed services business model: Partnerships with governments and port operators in the nascent stages of port development projects to provide turnkey solutions and operational support services that bridge security capability gaps may prove beneficial.
  • Cybersecurity of physical security systems: Vendors should combine Physical Security Information Management (PSIM) and Security Information and Event Management (SIEM) applications so physical security staff can detect secret threats, and the cybersecurity team can comprehend risks associated with the physical security system.

A Dynamic Threat Landscape Propels the Global Maritime Port Security Market is the latest addition to Frost & Sullivan’s Aerospace & Defense 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 six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

A Dynamic Threat Landscape Propels the Global Maritime Port Security Market
MFF6-23

Media Contact:
Priya George,
Corporate Communications
P: +91 44 6681 4414
E: priyag@frost.com 

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Senmiao Technology Announces Strategic Cooperation with the Top Online Ride-hailing Platform in China

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Company Continues to Establish Partnerships for its Ride-hailing Expansion Initiatives

CHENGDU, China, June 19, 2021 — Senmiao Technology Limited ("Senmiao") (Nasdaq: AIHS), a financing and servicing company focused on the online ride-hailing industry in China and an operator of its own online ride-sharing platform, today announced the signing of a cooperation agreement with a leading global platform for mobile transportation and local services (its "Partner"). Under the terms of the agreement, Senmiao will collaborate with its Partner to aggregate riders on their platforms. Senmiao has had a longstanding partnership with this Partner related to automobile transaction and related services since November 2018.

Under this cooperation agreement, the Company’s Partner will serve as a ride-hailing order aggregator for Senmiao. Senmiao will receive orders from riders utilizing its Partner’s online ride-hailing applications in certain cities, beginning with Chengdu. Once orders are received by its Partner, they will be distributed to registered drivers on Senmiao’s platform for viewing and acceptance. Senmiao will pay information technology service fees to a technology company cooperating with its Partner for each completed order based on a certain percentage of the value of the order.

Xi Wen, Senmiao’s Chairman and Chief Executive Officer stated, "We are thrilled to be collaborating with our long-term partner. Our focus has been on forging partnerships with major players in the space. Since our initial launch in October 2020, Senmiao’s online ride-hailing platform has seen impressive growth as we have expanded into additional cities with plans to launch in other major metropolitan areas where ride-hailing has become increasingly popular as a convenient and affordable mode of transportation. We are pleased to have the support of a major player in the space like our partner and look forward to this expanded partnership."

About Senmiao Technology Limited

Headquartered in Chengdu, Sichuan Province, Senmiao provides automobile transaction and related services including sales of automobiles, facilitation and services for automobile purchase and financing, management, operating lease, guarantee and other automobile transaction services as well as operates its own ride-hailing platform aimed principally at the growing ride-hailing market in Senmiao’s areas of operation in China. For more information about Senmiao, please visit: http://www.senmiaotech.com. The Company routinely provides important information on its website.

Cautionary Note Regarding Forward-Looking Statements 

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements (including those relating to the operation of Senmiao’s ride-hailing platform) are subject to significant risks, uncertainties and assumptions, including those detailed from time to time in the Senmiao’s filings with the SEC, and represent Senmiao’s views only as of the date they are made and should not be relied upon as representing Senmiao’s views as of any subsequent date. Senmiao undertakes no obligation to publicly revise any forward-looking statements to reflect changes in events or circumstances. 

For more information, please contact:
At the Company:
Yiye Zhou
Email: edom333@ihongsen.com
Phone: +86 28 6155 4399

Investor Relations:
The Equity Group Inc.                                                                       In China
Adam Prior, Senior Vice President                                                   Lucy Ma, Associate
(212) 836-9606                                                                                 +86 10 5661 7012
aprior@equityny.com                                                                        lma@equityny.com

© 2021 Senmiao Technology Ltd. All rights reserved.

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