CHENGDU, China, Aug. 7, 2020 — Senmiao Technology Limited ("Senmiao") (NASDAQ: AIHS), a provider of automobile transaction and related services targeting the online ride-hailing industry in China, today announced the closing of its previously announced underwritten public offering of 12,000,000 shares of common stock at a price of $0.50 per share. The total gross proceeds from the offering are US$6.0 million, prior to deducting underwriting discounts and offering expenses.
Mr. Xi Wen, Senmiao’s Chairman and Chief Executive Officer stated, "This financing not only strengthens our balance sheet, but also brings new investors to our company and will help us in regaining compliance with the Nasdaq minimum equity requirement. We are grateful for this opportunity and plan to utilize the proceeds to further augment our business and help drive value for all shareholders."
Senmiao has granted the underwriters a 45-day over-allotment option to purchase an additional 1,800,000 shares of common stock at the same price, less underwriting discounts and commissions.
The Benchmark Company, LLC and Axiom Capital Management, Inc. acted as joint book-running managers for the offering. Ellenoff Grossman & Schole LLP acted as the Company’s legal counsel and Sheppard, Mullin, Richter & Hampton, LLP acted as legal counsel for the joint bookrunning managers.
The securities described above were offered by Senmiao pursuant to a "shelf" registration statement on Form S-3 (File No. 333-230397) previously filed with the Securities and Exchange Commission (the "SEC") on March 19, 2020, and declared effective by the SEC on April 15, 2020. A final prospectus supplement and the accompanying prospectus relating to and describing the offering was filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained by visiting the SEC’s website at www.sec.gov or by contacting The Benchmark Company, LLC, Attn: Prospectus Department, 150 E. 58th Street, 17th floor, New York, NY 10155, by calling (212) 312-6700 or by e-mail at prospectus@benchmarkcompany.com.
This press release does 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 any such state or jurisdiction.
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 aimed principally at the growing ride-sharing market in Senmiao’s areas of operation in China. For more information about Senmiao, please visit: http://www.senmiaotech.com.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, including the statements regarding the use of proceeds of the public offering and Senmiao’s ability to regain compliance with Nasdaq listing standards. These forward-looking statements also are subject to 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.
Geek+ and Kuecker Logistics Group enter a distribution partnership to provide smart logistics robotics solutions to customers across North America
SAN DIEGO, California, July 29, 2020 — Geek+, a global AMR leader, announced a beginning of a new distribution partnership with Kuecker Logistics Group (KLG), a material handling systems integrator, to provide smart logistics solutions to customers across North America.
With an already extensive portfolio of successful cases across industries and a wide variety of AI-driven robotics solutions, Geek+ is partnering up with KLG, enabling an upgrade of the system integrators already broad range of services provided, from supply chain management and industrial automation to life cycle services and more.
Rick DeFiesta, Director of Business Development and Partnership at Geek+, said: “We are happy to be partnering up with an experienced integrator whose customer-first mentality has earned them a good reputation throughout North America, and are confident that the customized smart robotics solutions of Geek+ will leverage KLG’s know-how in the material handling industry.”
Jim Kuecker, Vice President of Systems at KLG, said: “We look forward to working together to offer our customers a flexible and robust portfolio of technologically advanced robotics solutions for logistics, and recognize the ability of Geek+ to design and build systems that, not only bring advantages of increased throughput and storage capacity, but reduces the overall reliance on labor, mitigating against various warehousing costs and logistics bottlenecks.”
The distribution agreement allows KLG to offer Geek+ robotics solutions so as to improve efficiency, provide flexibility, and reduce costs associated with warehouse and logistics operations, especially in regard to fast-growing industries, such as e-commerce and online retail, often subject to an overall need for solutions that can enable businesses to meet higher customer expectations, flexibly scale operations and meet fluctuations in demand.
About Geek+
Geek+ is global technology company leading the intelligent logistics revolution. We apply advanced robotics and AI technologies to realize flexible, reliable and highly efficient solutions for warehouses and supply chain management. Geek+ counts 300 global customers and has deployed more than 10,000 robots worldwide. Founded in 2015, Geek+ has over 800 employees and is headquartered in Beijing, with offices in Germany, the UK, the US, Japan, Hong Kong and Singapore.
Since 1980, Kuecker Logistics Group has been an MHE integrator that has grown into an end-to-end provider of Supply Chain Solutions that range from Engineering Services, Systems Integration, to Life Cycle Services. They are a family-owned private company. Kuecker Logistics Group was founded with a customer-first focus and although they are growing, their focus remains the same. Kuecker Logistics Group is working with a wide portfolio of companies on their Distribution and Fulfillment Center needs.
Traffic continues to grow in every major city. But how do you beat congestion in these restricted urban spaces? In China’s ancient-walled city of Xi’an, they’re adopting an intelligent traffic management system based on Hikvision technology – and boosting traffic flow while reducing journey time.
HANGZHOU, China, July 24, 2020 — The Chinese city of Xi’an, known as Chang’an in ancient times, was the center of ancient oriental civilization. Thirteen dynasties spanning Chinese history have chosen Xi’an as their capital. Today, Xi’an is not simply a part of history: it’s a high tech hub, renowned across China for its scientific research and education, manufacturing, technology, and transportation.
Xi’an urban traffic
The challenge: allowing a city to grow and flow within ancient walls
In spite of being a modern hub, Xi’an still retains its ‘checkerboard’ layout from the Tang Dynasty, complete with its border of tall and ancient walls. Nevertheless, while economic growth has enabled the city to develop, the walls place great restrictions on the city’s daily movement – especially to its burgeoning traffic. Vehicles can only enter and exit through the city gates, but with some three million vehicles in the city, the limited number of entrances was beginning to cause serious congestion.
What’s more, there are also many ancient ruins in the city, which were further limiting the development of the urban area. Plus as of 2018, the city was home to over 10 million people, while the number of construction projects was steadily increasing.
Managing a growing city while protecting its history presented a serious challenge to Xi’an. So to address this, Xi’an Urban Traffic Administration turned to Hikvision and its intelligent cameras.
The Solution: an intelligent traffic management system from Hikvision
"Xi’an’s city walls make it impossible to increase the size of the urban area. So it was only through technology that we could allow the modern city to grow and develop," says Lihu Ma, the Project Manager from Hikvision. "A core part of the Hikvision solution involves our AI-powered video technology."
The Xi’an traffic police worked with experts from Hikvision, as well as urban planning experts, internet service providers and other technology companies, to design and implement an intelligent traffic management system. The construction of this system fully utilizes Hikvision’s core advantages in urban transportation intelligence, employing AI-powered video to create a powerful traffic sensing system. "Effectively, we are building a bridge between an intelligent digital world and the physical urban transportation network in Xi’an," explains Lihu.
The technical solution
The intelligent traffic management system analyzes comprehensive and detailed data about the movement of traffic through the urban Xi’an area, and uses the insight gathered to make the flow of traffic more smoothly in three key ways.
Xi’an traffic police have installed Hikvision’s Checkpoint Capture Cameras and Intersection Violation Capture Units as part of a monitoring system that can detect illegal vehicle behavior at intersections.
These full view ultra-high zoom cameras record vehicles making illegal maneuvers – such as running red lights, making banned turns and illegal lane changes – in real time. What’s more, the latest sonar monitoring equipment is being used to detect illegal use of car horns in banned areas.
2. Visual integrated command and dispatching platform
Using real-time video streams from Hikvision Traffic Flow Capture Cameras, a number of road condition perception technologies, plus intelligent mobile applications, Xi’an traffic police has created a visual command and control center, coupled with an intelligent police dispatch system.
All data is aggregated and dynamically displayed on a large screen in the command and control center. In the event of a traffic incident, the system generates dispatch recommendations intelligently, according to the location and distribution of traffic police officers throughout the city. Those closest to an incident receive an automated message to their mobile terminals, enabling them to arrive at the scene quickly.
More importantly, the intelligent traffic management system uses advanced machine learning capabilities to gain insight into typical congestion patterns, in order to actively identify potential traffic events before they happen. By analyzing large volumes of road condition data and information from Hikvision’s intelligent video cameras, the system can predict which intersections are most prone to congestion and when, enabling traffic police to put evasive measures in place before serious issues arise.
3. Improved vehicle flow capacity with intelligent signal control
The Xi’an traffic management team also employs congestion management practices to ease the flow of traffic, largely through the optimization of signal timing.
Using Hikvision intelligent video cameras coupled with augmented reality (AR) technology, the intelligent traffic management system analyzes traffic flow data and dynamically alters the timing of signal lights accordingly. It will monitor traffic flow, queue length and average driving speed in all directions of intersections in real-time, automatically adjusting signal timing to optimize the flow of vehicles.
Benefits: Traffic throughput up by 10%, journey time down by 12%
The Xi’an traffic management system has now been trained with a wealth of traffic data, including Hikvision video, enabling it to build multiple intelligent algorithms for managing congestion in the city.
First of all, map-based congestion reports suggest that Xi’an’s congestion rankings have improved significantly. In fact, compared with the test results of pilot roads before the system went live, intelligent signal control alone has increased the throughput of traffic by 10%, while the average vehicle journey time is reduced by about 12%.
What’s more, driver behavior is improving, and drivers are becoming more compliant with the rules of the road. Traffic law enforcement data reveals that traffic offenses are generally decreasing, with traffic violations dropping by some 30% in one short-term observation.
Additionally, thanks to the proactive traffic incident warning function, the incident detection rate has also increased by more than 30% compared to the traditional model. With the continuous optimization of the system algorithm, plus ongoing installation of monitoring equipment, the accuracy of this identification will only improve.
In the process of urbanization, tackling congestion is not only about improving the flow of the transportation network: it’s also basic governance for building a smart city.
You can find out more about Hikvision’s intelligent traffic solution here.
SEOUL, South Korea, July 23, 2020 — AUTOCRYPT Co., Ltd., a leading transportation security solutions provider, announced that it would be heading the Korean Expressway Corporation (KEC) V2X Security Credential Management System (SCMS) project. AUTOCRYPT is to deliver production-grade SCMS for KEC, which announced its plans for a national V2X security authentication system earlier this year.
SCMS implementation is essential in a connected car environment as vehicles share information and data with all elements of the transportation environment including other vehicles, traffic infrastructure, mobile devices, and service providers through Vehicle-to-Everything (V2X) communication. AUTOCRYPT’s SCMS will ensure that only authenticated and enrolled devices can participate in communications to prevent attempts to infiltrate V2X communication messages, while protecting personal information in autonomous driving environments.
AUTOCRYPT remains the first and only company in the APAC region to have not only developed a standards-compliant V2X SCMS, but to have also successfully tested and verified its interoperability with global device vendors. In addition to certification and verification activities via the Intelligent Transport Society of Korea (ITSK) as well as OmniAir PlugFest, AUTOCRYPT has already deployed its V2X security technology for KEC’s Intelligent Transport System (ITS) projects across the Sejong, Yeoju, and the Hwaseong K-city testbeds, securing communications since 2016. The larger Seoul Metropolitan area as well as Jeju Island are currently undergoing the final stages of construction in support of security system implementation, and Gwangju and Ulsan are set to begin construction in July 2020.
Daniel ES Kim, CEO, said regarding the project, "Security is the cornerstone of smart mobility because no amount of risk should be permissible when it comes to driver, passenger, and pedestrian safety. Therefore, we are very honored to be heading this project for KEC, and do not take the responsibility lightly when it comes to securing V2X communications. We hope that other smart road projects worldwide will follow suit and implement comprehensive, end-to-end full stack security solutions as well."
In June 2020 AUTOCRYPT announced headway in the Chinese market, and that it plans on further expanding its ITS efforts worldwide in Q4 2020 and into 2021.
AUTOCRYPT is the leading player in mobility security technologies. Recognized by TU-Automotive as the Best Auto Cybersecurity Product/Solution of 2019, AUTOCRYPT continues to pave the way in transportation and mobility security through a multi-layered, holistic approach. Through security solutions for V2X/C-V2X, V2G (including Plug & Charge security), in-vehicle security, and Fleet Management, AUTOCRYPT ensures that security is prioritized before vehicles hit the road.
AWS complements its large ecosystem of solutions and partners with a deep focus on customer experience
SANTA CLARA, California, July 22, 2020 — Based on its recent analysis of global automotive cloud services platforms for the mobility industry, Frost & Sullivan recognizes Amazon Web Services, Inc. (AWS) with the 2020 Global Company of the Year Award. AWS has cemented its leadership in cloud by delivering innovative solutions to automotive companies for unique connected, autonomous, shared, and electric (CASE) use cases. It also offers unparalleled support through dedicated account managers, solution architects, and a partner community that can deliver round-the-clock services at scale.
AWS offers over 175 fully featured services from the world’s most comprehensive and broadly adopted cloud platfrom from 76 Availability Zones (AZs) within 24 geographic regions. The company boasts a more extensive set of CASE-related cloud services, such as AWS IoT, AWS Outposts, and AWS Wavelength, than what is available from other competitors. AWS offers broad and deep capabilities, including artificial intelligence and machine learning, Internet of Things (IoT), high-performance computing, purpose-built databases, and data analytics. These capabilities reinforce high performance, tight security, continuous innovation, and the largest customer and partner community in the world.
“AWS stands out with its industry-best scalability, elasticity, innovation, cost savings, and global reach. More importantly, it creates clear value by focusing on its clients and then co-locating, co-developing, and co-investing with them through a highly distinct engagement model,” said Niranjan Manohar, Research Director at Frost & Sullivan. “The company places direct emphasis on interoperability to connect its platform to the broader ecosystem of Amazon’s offerings, such as its supply chain or Alexa. By maintaining this level of interconnectivity, AWS can provide a rich, differentiated experience for its customer base.”
Further demonstrating its leadership, AWS supports the entire automotive value chain, including auto-tech start-ups, Tier I suppliers, mobility service providers, fleet providers, and OEMs. Its partner-centric strategy supports several purpose-built, connected car, and autonomous third-party platforms. Besides CASE offerings, AWS specializes in product innovation, connected mobility, digital customer engagement, manufacturing, and supply chains. Its solution architects are available to provide assessments and actively seek out opportunities to reduce operational costs and increase revenue.
“In 2019, AWS collaborated with Volkswagen to power Volkswagen’s Industrial Cloud. Ford Motor Company and Autonomic both began a multi-year agreement with AWS to expand the availability of cloud connectivity services and connected car application development services. Its expanding list of clients includes industry powerhouses like BMW Group, Kia, Honda, Mazda, Uber, Elektrobit, Cox Automotive, and Edmunds,” noted Manohar. “With its innovative solutions, customer-centric design, and strong overall performance, AWS is expected to continue dominating the market in the future.”
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become 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.
Initiative is committed to leading by example, charting the course for other businesses to follow
REDMOND, Washington, July 21, 2020 — The heads of nine companies today announced the establishment of a new initiative to accelerate the transition to a net zero global economy. The initiative, known as Transform to Net Zero, intends to develop and deliver research, guidance, and implementable roadmaps to enable all businesses to achieve net zero emissions.
Transform to Net Zero will focus on enabling the business transformation needed to achieve net zero emissions no later than 2050, in addition to driving broader change with a focus on policy, innovation, and finance. The outputs of the initiative will be widely available to all, though additional companies may join. The Initiative intends to complete the outputs of this work by 2025.
The work will be led by the following principles:
Focused on transformation: Delivering on our individual commitments and translating into action, which will include corporate strategy, governance and accountability, finance and operations, risk management, procurement, innovation and R&D, marketing, and public affairs.
Led by science and best practice data and methods: Committed to standardized approaches to achieve what the best available science requires for a 1.5 degree C world; committed to improving the quality and availability of research, data, and tools for all; committed to the highest return for the climate on investment.
Leveraging existing efforts: Committed to open collaboration with existing net zero initiatives (sign-on, advocacy, sectorial, methodology efforts) to leverage existing work and advance business transformation to net zero.
Strong governance and oversight: At the highest levels of the company, governance and oversight structures will work to achieve net zero, including through developing innovative products, services, and business models.
Robust reduction and removal across the extended enterprise: Net zero requires emissions reductions across the entire value chain, including impact of products and services and supply chain. Net zero requires us to achieve greenhouse gas (GHG) emissions reductions aligned with the latest science and increase our capacity for GHG removals in the near term to be the path to get companies–and the world–to net zero no later than 2050 to ensure a stable climate, and will mean a mix of climate-positive actions should be pursued.
Investment in innovation: Substantial commitment and willingness to invest in and accelerate innovation to achieve net zero transformation, including partnering with others.
Policy engagement: Advancing public policy that enables and accelerates progress towards net zero, and engagement with bodies such as trade associations to achieve this objective.
Transparency and accountability: Public reporting and disclosure on progress towards net zero transformation to key stakeholders, including investors, customers, consumers, and where required–regulators; sharing information with all stakeholders on good practice to net zero transformation.
Just and sustainable transition: We know that marginalised groups and low-income communities bear the greatest impacts of climate change. Therefore, we will help enable conditions needed to achieve effective, just, and sustainable climate solutions for people of all gender, race, or skills.
Commentary:
A.P. Moller – Maersk Soren Skou, CEO of A.P. Moller – Maersk, said: “A.P. Moller – Maersk is committed to a carbon-neutral future of transport and logistics. To contribute to the Paris agreement’s goal, we announced our ambition of having net-zero CO2 emissions by 2050 back in 2018. Since then we have taken several concrete actions to decarbonise the industry. The overall target of keeping global warming below 1.5 degrees can only be reached through strong alliances across sectors and businesses. We are therefore happy to join Microsoft and other global companies in the Transform to Net Zero initiative.”
BSR Aron Cramer, President and CEO of BSR, said: “Over the past decade, many businesses have committed to net zero targets. It is now time to accelerate the actions needed to achieve this essential goal. Our window for staying under 1.5 degrees of warming is closing, and fast. We are now in a decisive decade, in which we must urgently decarbonize the economy, if we are to stave off the worst impacts of climate change. That’s why Transform to Net Zero is so important. More than just setting a high bar for inspiration, Transform to Net Zero will provide companies with an actionable roadmap enabling them to transform their businesses to thrive in and shape a net zero economy.”
Danone Emmanuel Faber, Chairman and CEO of Danone, said: “Our One Planet. One Health frame of action puts the climate at the core of the food system transformation. Carbon neutrality is therefore not optional for Danone, it is a way to reinvent our growth model. This revolution cannot be achieved alone. That’s why I truly believe in the collective power of Transform to Net Zero. Let’s share best practices and build new systems to create the evidence-based solutions that will help us drive the change and keep global warming under 1.5°C.”
Environmental Defense Fund Fred Krupp, President of Environmental Defense Fund, said: “The gap between where we are on climate change and where we need to be continues to widen. So does the gap between businesses that just talk about action and those that are actually getting the job done. This new initiative holds tremendous potential for closing these gaps. Especially if other businesses follow in the coalition’s footsteps, leading by example and using the most powerful tool that companies have for fighting climate change: their political influence.”
Mercedes-Benz AG Ola Kallenius, Chairman of the Board of Management of Daimler AG and Mercedes-Benz AG, said: “If there is one lesson we can learn from dealing with the COVID-19-pandemic it is how much we can achieve if we act together. This is the only way we can also win the fight against climate change. We need to set common goals and implement measures to achieve them. That’s why we are joining ‘Transform to Net Zero.’ Our mission at Mercedes-Benz is CO2-neutral mobility. We are making good progress towards this end and we are determined to follow through.”
Microsoft Brad Smith, President, Microsoft, said: “No one company can address the climate crisis alone. That’s why leading companies are developing and sharing best practices, research, and learnings to help everyone move forward. Whether a company is just getting started or is well on its path, Transform to Net Zero can help us all turn carbon commitments into real progress toward a net zero future.”
Natura &Co. Roberto Marques, Executive Chairman of the Board and group CEO of Natura &Co., said: “At Natura &Co we truly believe in cooperation. We recently released our 2030 Commitment to Life in which we set for all our business the target to become net carbon zero in ten years. But to address the climate crises the world is facing, we need to help each other to do more and faster. The Net Zero initiative strives to do just that, bringing together companies committed to making the right changes at the right pace. We are committed to build a brighter future that will allow not only a greener world for future generations but the economic recovery under new premises that that society is demanding.”
NIKE, Inc. Andy Campion, Chief Operating Officer, NIKE, Inc., said: “When it comes to protecting the playing field we share–our planet–there isn’t a moment to lose. That’s why we aren’t waiting for solutions to climate change, we’re coming together as global leaders to create them. If we act now, and work together, we can drive meaningful progress toward a more sustainable future. We’ll be relentless in our pursuit of ensuring a healthy planet for generations of athletes to come.”
Starbucks Kevin Johnson, Starbucks President and Chief Executive Officer, said: “Starbucks aspires to be a resource-positive company by building on our long history in sustainability. Joining Transform to Net Zero aligned with our aspiration for a more sustainable future. Partnering with other like-minded companies, we will open-source best practices, advocate for positive government policies, and support a just transition. We believe in driving real change and encourage other organizations to join us in this critical effort for humanity.”
Unilever Alan Jope, Unilever CEO, said: “The climate crisis is not only a threat to our environment, but also to lives and livelihoods, and it is critical that we all play a part in addressing it. The business world of the future cannot look like it does now; in addition to decarbonisation, a full system transformation is needed. That’s why we’re pleased to join other leading businesses as a founding member of Transform to Net Zero so we can work together and accelerate the strategic shift that is needed to achieve net zero emissions; in Unilever’s case, by 2039.”
Wipro Thierry Delaporte, Chief Executive Officer and Managing Director, Wipro Limited, said: “We are pleased to be a founding member of Transform to Net Zero. It is closely aligned with our values and our commitment to sustainability. Climate change is a defining challenge for our times and we firmly believe that businesses must step up and address the challenges head-on. A partnership forum like this can help catalyse and accelerate such a response and guide our future engagements across the value chain through a collaborative spirit of innovative, transformational solutions.”
MELBOURNE, Australia, July 15, 2020 — In response to the changing demands of consumers and a record peak in online orders during COVID-19, Australia’s largest pharmacy retailer, Chemist Warehouse, has teamed up with Cohesio Group (Körber) to launch a same-day delivery service for its 1.5 million weekly customers.
From L – R: Rizan Mawzoon, Head of Transportation at Cohesio Group, Mark Finocchiaro, Managing Partner and Director at Chemist Warehouse, Edwin Chong, Project Manager and Tim Noakes, Development Lead at Cohesio Group
Established in 2002, Chemist Warehouse has grown to become Australia’s largest pharmacy retailer. Operating more than 500 stores across the nation, the leading retailer now services more than 1.5 million customers and dispenses almost a million prescriptions per week.
Since COVID-19, Chemist Warehouse has experienced a huge increase in online orders, reaching higher levels than previous Black Friday and Christmas peaks.
As a result, the retailer has launched Click and Deliver, a new same-day delivery service from Chemist Warehouse and Cohesio Group to offer customers flexible and convenient delivery options. The new solution will complement the retailer’s previous sophisticated Click and Collect offering.
“We wanted to ensure that we could offer our customers the safest possible option to shop during COVID-19 restrictions. We knew that for many they felt it was a risk to leave their homes and shop in the traditional way, so we approached Cohesio Group to help us develop our existing Click and Collect solution to become a Click and Deliver solution,” Mark Finocchiaro, Managing Partner and Director, Chemist Warehouse Group said.
The solution was developed in four-weeks by Melbourne-based technology provider Cohesio Group and the first stage has been rolled out across all of Chemist Warehouse’s stores in Australia, with New Zealand set to follow.
Chemist Warehouse and Cohesio Group have worked together since 2017, with Chemist Warehouse deploying Cohesio’s dedicated retail software, Ignito, to power its Click and Collect processes.
Since Chemist Warehouse introduced Cohesio’s Ignito software solution in 2017, the retailer has increased order fulfilment throughput rates by up to 30 per cent and has since used the software to fulfil up to 150,000 online orders a month.
In order to gain faster fulfilment times, Cohesio developed a solution whereby the picking and packing of online orders is done in store, instead of from a central distribution centre (DC).
“Chemist Warehouse stores are unique in that they tend to be very large facilities and hold a huge amount of inventory. We recognised that this created the perfect opportunity to fulfil orders in store, rather than from a DC,” Rizan Mawzoon, Head of Transformation at Cohesio Group said.
“This kind of fulfilment is on the rise as e-commerce continues to take up a larger percentage of the retail spend. We knew this kind of approach would work very well for Chemist Warehouse and we’re absolutely thrilled with the results,” Nishan Wijemanne, CEO of Cohesio Group said.
When a customer selects an order on the Chemist Warehouse website or app, the Chemist Warehouse Order Management System (OMS) will check the stock levels in the stores closest to that customer to fulfil the order.
The app will also profile the consumer and recognise if they have previously visited or ordered from a particular local store.
“The system then sends a message to the store inventory team and communicates which orders are for Click and Deliver, and which are for Click and Collect,” Rizan said.
“We recognise the critical role that we play in keeping Australians healthy and giving them access to essential goods for the benefit of their health. We knew we needed to come up with a solution that reduced anxiety and risk for the most vulnerable members of our communities. Cohesio rose to the challenge and we are proud to be able to keep serving our customers with flexible and convenient delivery options,” Mark Finocchiaro, Managing Partner and Director, Chemist Warehouse Group concluded.
Cohesio Group is part of international technology group Körber. Kӧrber’s supply chain expertise, spanning software to materials handling equipment, also includes Aberle, Aberle Software, Cirrus Logistics, Consoveyo, DMLogic, HighJump, inconso, Otimis,Langhammer, Riantics and Voiteq. All companies will transition to the Kӧrber brand in Fall of 2020. Körber is home to more than 2,300 professionals and nearly 100 strategic partners across the globe dedicated to conquering supply chain complexity. With 30+ years of experience, Körber has proven success with thousands of companies worldwide.
About Chemist Warehouse and My Chemist
My Chemist is a group of independent Pharmacies, who share a common philosophy. We are dedicated to the health and wellbeing of you and your family. We have a desire to provide you with the most effective and efficient solutions for health, whilst providing advice and updated information.
Chemist Warehouse continues to be at the forefront of internet pharmacy in Australia. The Chemist Warehouse group now employs over 8000 staff members and is Australia’s largest pharmacy retailer and is rapidly expanding throughout New Zealand.
Cohesio Group, a part of international technology group Körber, is a leading integrator and developer of tech solutions that enable rapid optimisation of workflows and processes and is also an idea generating partner for strategic concepts. With offices across the Asia Pacific, Cohesio Group creates innovative technology transformations that span across supply chain and logistics including warehousing and distribution centres, transportation, manufacturing, healthcare, pharmaceutical, FMCG and retail. Cohesio Group’s enterprise-grade solutions range from voice-powered technology that enable hands-free workflows through to new-generation mobility solutions, software applications that provide actionable business insights and retail fulfilment as well as solutions such as Autonomous Mobile Robots that enable automation in distribution centres. Learn more at www.cohesiogroup.com
About the Körber Business Area Supply Chain
Supply chains are growing more complex by the day. Körber uniquely provides a broad range of proven, end-to-end supply chain solutions fitting any business size, strategy or appetite for growth. Capable of delivering not just software, but automation, voice, robotics, and materials handling – plus the expertise to tie it all together. We are a global partner not just for today, but also as the needs of supply chains continue to evolve. Conquer supply chain complexity – with Körber. The Business Area Supply Chain is part of the global technology group Körber. Find out more on www.koerber-supplychain.com
SHANGHAI, July 10, 2020 — Hellobike, China’s two-wheel transport industry leader, has unveiled three revolutionary shared mobility AI technologies at the 2020 World Artificial Intelligence Conference (WAIC2020), taking place virtually between 9 and 11 July. In line with the conference theme, ‘Intelligent Connectivity, Indivisible Community’, Hellobike showcased its independent research and development into solutions that enable cities to create convenient, greener urban transportation ecosystems.
Hellobike’s non-motorized vehicle safety management system
During its presentation on 10 July, Hellobike unveiled three innovative technologies that leverage AI, big data, cloud infrastructure and the IoT: the Hermes road safety system, non-motorized vehicle safety management system, and fixed-point return. Hellobike’s participation in WAIC2020 follows its highly successful debut at the conference last year, where the company unveiled exciting AI projects including the Hello Brain smart transportation OS and the Argus visual interaction system.
Hellobike’s new model A40
“We are honored to take part in WAIC2020 for the second year running. As the shared bike industry leader, WAIC2020 is the ultimate platform for us to demonstrate how we harness AI technology and work hand-in-hand with the state to build the city of the future,” said Li Kaizhu, President of Hellobike.
Hellobike’s latest technologies usher in the 3.0 era of China’s bike-sharing industry: a new model that sees shared bicycles organically integrated into the urban public transportation ecosystem. Through strengthened cooperation between transport providers and municipal governments, the 3.0 era provides a systematic mechanism to help Chinese cities tackle unique operational challenges, address parking management, and streamline shared bike deployment and distribution.
Hellobike’s Hermes road safety system integrates AI algorithms to provide users with a better, safer shared transport experience. Built as a scenario-based solution, Hermes automatically performs failsafe tests on both user behavior and the bike at the beginning, middle and end of their riding journey. If the system detects technical issues, dangerous operation or user violations, Hellobike delivers a risk warning to the user through the bike’s built-in speaker.
Based on insights gathered from mining big data, Hellobike also found that the use of non-motorized vehicles can lead to chaotic, unsafe road conditions. To address this, Hellobike has partnered with local governments to develop non-motorized vehicle safety management systems tailored to each city’s unique traffic conditions. Using video AI technology for data collection and situation analysis, as well as spatial data, Hellobike helps cities establish new vehicle management systems built upon data visualization, intelligent data processing and smart decision-making applications.
Furthermore, Hellobike has cooperated with city officials to promote improved traffic safety, simplified parking and enhanced city appearance through a shared bike management operation plan. Hellobike has established a number of convenient fixed-point return locations using electronic fencing, Bluetooth road studs, AI and the IoT. Fixed-point return encourages users to park at designated locations, while making it easier for staff to locate and redistribute vehicles across the city.
Hellobike President Li Kaizhu and Chief Scientist Liu Xingliang will also take part in WAIC2020’s AI TALK and big data forum alongside entrepreneurs from leading local and global tech companies to discuss the applications of AI technology. In addition, Hellobike plans to host its first Technology Open Day on 31 July at its Shanghai headquarters, where users can tour the space, test new vehicles, and discover the technological innovations behind Hellobike.
About Hellobike
Hellobike has continuously built user-friendly and sustainable transport services in sectors such as shared bicycles, shared e-bikes and car-pooling. As a business leader in two-wheeled transport, users have taken more than 12 billion trips on Hellobike vehicles over the past three years. Hellobike now operates in more than 360 Chinese cities.
BEIJING, July 8, 2020 — Renren Inc. (NYSE: RENN) (“Renren” or the “Company”), which operates a leading premium used auto business in China through its subsidiary Kaixin Auto Holdings (NASDAQ: KXIN) (“Kaixin”) as well as several U.S.-based SaaS businesses, today announced the filing of its annual report on Form 20-F for the year ended December 31, 2019 with the Securities and Exchange Commission (the “SEC”). The annual report was filed with the SEC on July 7, 2020.
The Company received a notice from NYSE Regulation on July 1, 2020 indicating that the Company was not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its annual report with the SEC.
The Company was not able to file the annual report by its due date primarily due to (i) the impact of the outbreak of COVID-19, as set forth in the Form 6-K furnished to the SEC on April 28, 2020, (ii) the internal review to complete its financial data, as set forth in the Form 12b-25 submitted to the SEC on June 12, 2020, and (iii) additional time required after June 29, 2020 to prepare its 2019 financial statements and annual report.
The annual report on Form 20-F, which contains the Company’s audited consolidated financial statements, can be accessed on the SEC’s website at http://www.sec.gov as well as through the investor relations section of the Company’s website at http://www.renren-inc.com. Holders of the Company’s securities may request a hard copy of the Company’s annual report free of charge by contacting the Investor Relations department by mail at:
Renren Inc. Investor Relations Department 5/F, North Wing 18 Jiuxianqiao Middle Road, Chaoyang District Beijing 100016 People’s Republic of China
About Renren Inc.
Renren Inc. (NYSE: RENN) operates a leading premium used auto business in China through its subsidiary Kaixin Auto Holdings (NASDAQ: KXIN) as well as several US-based SaaS business. Renren’s ADSs, each currently representing forty-five (45) Class A ordinary shares of the Company, are traded on NYSE under the symbol “RENN”.
For investor and media inquiries please contact:
Investor Relations Department Renren Inc. Tel: (86 10) 8448 1818 ext. 1300 Email: ir@renren-inc.com
PIETERMARITZBURG, South Africa, July 6, 2020 — Drones, with specialty spraying technology, was deployed for a recent sugarcane ripening trail in South Africa, showing an evident increase in the amount of sugar extracted from these canes. This might signal a potential improvement in profit margin for the cane growers, who have been incurring loss from the country’s ailing sugar industry.
XAG P Series drone on the work of sugarcane ripening in South Africa
Primarily grown in tropical and subtropical regions, sugarcane is the type of perennial, high-value cash crop that serve as juicy fruit as well as the major feedstock for sugar production. South Africa ranks the world’s top 15 sugar producing countries that provide cost-effective, high-quality sugar products. However, due to a series of interweaving threats, mainly the influx of cheap imports and the imposition of sugar tax, South Africa’s$833 million sugar industry has been struggling to stay competitive in the global market. Crop-spraying drones, meanwhile, gently tap in and get prepared to give a new lease of life to this industry.
Drones outperform to reap recoverable value
This June, in Seafield Farm, located at the Midlands South region of KwaZulu-Natal, a new round of sugarcane harvest arrived. What made this harvest season special was that a commercial ripening trial was conducted for the first time to compare the efficacy of drone and helicopter. Ripening refers to the process of applying chemical ripener to enhance the content of sucrose in the sugarcane plants usually six to nine weeks before harvest. The ripening application has been widely adopted as a routine management that proves to effectively improve cane quality and sugar yield.
In this trial, different fields of the Seafield Farm were selected, each of which divided into two areas between 1 to 5 hectares assigned to different ripener applications. The drone used was XAG P20, which carried a custom spraying attachment and 12-litre smart liquid tank designed in a modular fashion. It followed the pre-set flight route, operated at a fixed height 2 to 3 metres above the crops, and sprayed accurately into the target fields. Results show that the traditional manned helicopter was considerably outperformed by XAG drone in both cane yield and quality of the harvested crops.
The areas ripened with drones had a small, yet significant 1% increase in recoverable value (RV), compared to those ripened with helicopter. In South Africa, RV is the accepted measure of the amount of sugar recovered from every ton of cane crushed in the mills.
“This means a lot to us. With higher sugar extracted from every tons of sugarcane, we get paid higher and my farms become more profitable,” said Kim Hein, the licensed operator of XAG drone as well as cane grower who has been testing the feasibility of drone spraying solution in sugarcane cultivation.
Under the RV Cane Payment System since 2000, the South African farmers are remunerated for their harvested sugarcane based on recoverable value. As RV% generally falls within 9% to 14%, the more than 1% increase is a relatively satisfactory progress for sugarcane growers to obtain a greater return on investment. This smallest breakthrough could mean a great deal to individual farmers facing an ailing sugar industry.
The recent two years have seen a considerable drop in the market price of RV, which means that farmers are payed less for the sugarcane of the same recoverable value. This is largely attributed to the flood of low-priced sugar import and the introduction of tax on sugar-sweetened drinks (or health promotion levy) that brings down the demand for local sugar.
Small-scale growers being the early adopters
Despite the market chaos of the sugar industry, South Africa has granted the legal take-off of agricultural drones last year which could innovatively transform the labour-intensive farming ecosystem. Kim Hein, the man behind the Seafield Farm ripening trial, has purchased agricultural drones from XAG to tend its self-owned 200ha sugarcane field as well as those of his farmer counterparts.
“Drone, imagery, and smart agriculture system can help us solve many environmental and labour problems,” Hein said. Drones with precision spraying ability can address the increasing pressure to use less chemical, while reducing labour usage to tackle the rising labour cost that is disproportionate to the quality of work done. As the advantages of drone technology start to shine through, there has been a growing acceptance of drone-based treatment by cane farmers, who has been dealing with difficulties to manage this specialty crop.
Sugarcane plants can reach 3 to 7 metres high, that ground equipment such as tractors are inapplicable. Manual option with knapsack sprayer can expose field workers directly to the chemicals. This leaves manned aerial approaches, such as helicopter and airplane, to be used for sugarcane ripening over the past 20 years.
According to Heim, helicopter spraying can treat large areas very quickly, but the downside of it was that most sugarcane fields are quite small in size. According to South Africa Sugar Association (SASA), small-scale farmers constitute 90% of the nation’s 22,949 registered sugarcane growers, predominantly located in two provinces namely Mpumalanga and KwaZulu-Natal. They form the backbone of the sugar industry value chain.
“We usually end up with problem with the helicopter company which offer a minimum spray of 50 hectares a day, but we only want to do 2 to 3 hectares a week. This does not allow any flexibility in the ripening process which means the outcome might fail,” explained by Hein. Large airplane and helicopter can only be subject to blanket spray, which means they work on huge areas at a time that does not match well with farmers’ harvesting schedule.
Instead, the drones that Hein uses are designed by XAG to facilitate precision application in agriculture. They can smoothly operate on various terrains, no matter steep slopes or irregular-shaped plots, which are common places where most South African sugarcane plants are grown. Owing to real-time kinematic (RTK) positioning and the special atomised nozzles, XAG drones can spray more precisely and evenly on target areas without affecting the neighbouring fields not yet ready for ripening. This help cut down the use of chemicals by 30% and converse agricultural water by 90%.
Get ready for the Sugar Master Plan
The introduction of precision drones into farming complements government’s determination to rejuvenate the sugar industry. The Department of Trade, Industry and Competition has announced the Sugar Masterplan this June that marks a major milestone in efforts to ensure the health and longevity of the industry.
The sugar industry makes important contributions to South Africa’s economic activities and rural employment. Its direct and indirect employment is estimated at 435,000 jobs, as well as representing over 11% of the total agricultural workforce. However, based on the SASA statistics, the annual sugar production has declined by 25% over the past 20 years, while the number of sugarcane farmers experienced a decline by 60% along with a reduction by 45% in sugar industry-related jobs.
The Sugar Masterplan aims to reverse this industry downtrend and protect tens of thousands of livelihoods in rural areas. As SA Cane Growers’ Association chairperson Rex Talmage introduced, the warmly welcomed plan includes the actions to enhance import protection, diversify sugar by-product production (i.e. biofuel) and support small-scale cane farmers, which would increase demand in the local market.
Amid the industry reconstruction, smart agriculture technology such as drones could play a new role in the upstream part of the sugar value chain. Through generating higher recoverable value, reducing labour costs, and minimising the use of chemicals, drones could help to guarantee sustainable supply of sugarcane and improve the profitability of small-scale growers.
When talking about his future plan, Kim Hein expressed positive attitudes towards the scale-up of smart agtech. “The number of tasks that can be done with drones have growing. We are now testing new applications to treat sugarcane crops at different stages in ways we could never image in the past.” In South Africa, sugarcane is harvested in an 18 to-24-month rotation, when agricultural drones can apply throughout the period from field mapping, fertilisation, controlling diseases, weeds, and pests, to ripening.
About XAG
Founded in 2007, XAG is a world-leading agriculture technology company with 13 years of technical experience in unmanned aerial system (UAS) and seven years of practical experience in innovative field applications. Up to 30 April 2020, XAG has over 51,000 agricultural drones in operation, having empowered 8 million farmers with precision crop protection services on 28 million hectares of farmland. With a global mission to advancing agriculture, XAG is devoted to building digital farming infrastructure, developing precision farming equipment, such as robots, drones, AI and IoT, and creating smart agriculture ecosystem.
