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SKF Annual Report 2024 published online; significant decarbonization milestone reached

GOTHENBURG, Sweden, March 7, 2025 /PRNewswire/ — AB SKF has today published its Annual and Sustainability Report 2024 on the Group’s website. The Report focuses on SKF’s value creation activities for customers, shareholders, and other stakeholders by outlining the Group’s strategic transformation, operational progress and financial performance. Major updates include a revised Remuneration Report for increased transparency and an extended Sustainability Report.

“Also in 2024, we diligently executed on our strategy to further strengthen us as a company. The initiated process to establish Automotive as an independent business is one key example of these value-adding activities. I firmly believe that we today are in a better position to capitalize on profitable growth opportunities as demand recovers,” says Rickard Gustafson, President and CEO.

The Annual and Sustainability Report also highlights the progress towards SKF’s 2030 decarbonization target of a 95% reduction in scope 1 and 2 emissions from a 2019 baseline. In 2024, a 59% reduction was achieved, which is well ahead of the verified Science Based Targets initiative (SBTi) trajectory of a 43% reduction. SKF accelerated its decarbonization efforts in 2024 by achieving a year-on-year emission reduction for scope 1 and 2 emissions of 32%, up from 18% in the previous year.

In addition to these efforts, SKF has made significant strides in renewable energy adoption. In 2024, 72% of SKF’s electricity use came from renewable sources, up from 64% in 2023. This is also important progress on SKF’s commitment as part of the Renewable Energy 100 (RE100) initiative to source 100% of its electricity from renewable sources by 2030.

“The progress we made in 2024 represents a significant achievement and underscores our commitment to achieve our long-term sustainability goals. These, and other achievements, would not have been possible without the hard work and dedication throughout the year from our employees all over the SKF world,” says Rickard Gustafson.

The SKF Annual and Sustainability Report is available for download on https://investors.skf.com.

Aktiebolaget SKF
(publ)

AB SKF is obliged to make this Annual Report public pursuant to the Securities Markets Act. The report was submitted for publication through the agency of the contact person set out below on 7 March 2025 at 13.00 CET.

Gothenburg, 7 March 2025

For further information, please contact:
Press Relations: Carl Bjernstam, +46 31-337 2517; +46 722 201 893; carl.bjernstam@skf.com 
Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908 072; sophie.arnius@skf.com 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/skf-annual-report-2024-published-online–significant-decarbonization-milestone-reached,c4115866

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Huawei and Turkcell Sign Memorandum of Understanding for Leading Network Joint Innovations at MWC 2025

BARCELONA, Spain, March 7, 2025 /PRNewswire/ — During MWC2025, Huawei and Turkcell (NYSE: TKC) (BIST: TCELL), Türkiye’s technology leader signed Memorandum of Understanding to develop sustainable leading networks using innovative products and solutions in Turkcell Enhanced Network.

The collaboration between the companies includes further developing smart cities using next-generation features of 5G Advanced Technology in wireless network as well as innovations in ultra-speed broadband services in access network and Quantum Key distribution technology in IP network.

MoU signing between Turkcell and Huawei in Barcelona
MoU signing between Turkcell and Huawei in Barcelona

With the power of 5G-A Technology, Turkcell and Huawei will design smart cities that aim to provide the best experience in areas focused on creating efficiency using cutting-edge technologies, such as autonomous vehicles, transportation, manufacturing facilities, and large venues. Companies will test and verify Tunnel Antenna Technology to reduce cable usage and improve coverage, Integrated Sensing and Communication (ISAC) Technology to improve high-accuracy localization, motion capture and activity recognition, Supersite Technology which uses the satellite as backhaul to enable redundant and sustainable communication. In other areas, such as Home Broadband, IP and WDM Network, Symmetric 50GPON Technology, which provides ultra-speed broadband connectivity for both download and upload and Quantum Key Distribution Technology, which establishes quantum safe encrypted services will be tested in the field.

Prof. Dr. V. Çağrı Güngör, Chief Technology Officer at Turkcell said: “Turkcell is committed to leading the way in next-generation network innovations. Our focus on 5G-A technology enables us to develop smart, efficient networks that are ready to meet the future demands of connectivity. Through continuous innovation, we aim to create networks that are more intelligent, sustainable, and capable of enhancing the digital experience for all.”

Mr. Jim Lu, President of Huawei European Region said: “Huawei is dedicated to advancing the capabilities of 5G-A technology to drive the next generation of connectivity. Our focus is on supporting intelligent, sustainable networks that support the evolving needs of users and businesses. By innovating with cutting-edge technologies, we are shaping a more connected and resilient future.”

Türkiye: Opus consortium awarded a 20-year vehicle inspection concession for all vehicles

GOTHENBURG, Sweden, March 7, 2025 /PRNewswire/ — In late February, the MOI Group consortium, anchored by Met-Gün and Opus Group, was awarded the 20-year concession to inspect all vehicles (passenger cars, trucks, buses, motorcycles and more) in Türkiye. This concession – one of the largest of its kind – will commence in August 2027 covering more than 30 million registered vehicles (28.7 million as of the end of 2023) in the country.

“This is a significant win for Opus and MOI Group”, says Lothar Geilen, CEO of Opus Group.  “We are looking forward to developing a technology-first, world class inspection program in Türkiye that centers around customer service. We welcome the opportunity to engage in constructive and purposeful dialogue with both current and potential local vehicle inspection station operators in Türkiye to explore collaborative opportunities under our newly introduced vehicle inspection scheme. Our approach is built on transparency, partnership, and shared value, and we look forward to engaging in discussions on how we can collectively elevate industry standards and deliver outstanding service”, Geilen continued.

To handle the inspection volume in Türkiye, more than 300 inspection stations will be built and equipped and over 6.000 inspectors trained to meet the new inspection standards.  Opus will deploy its lane inspection software, and its vehicle inspection data management system will be used to manage the vehicle inspection program in Türkiye.

Follow this link for an interview with the CEO of Opus Group, Lothar Geilen: https://opus.global/news/articles/tuerkiye-opus-consortium-awarded-a-20-year-vehicle-inspection-concession-for-all-vehicles/

About:

Opus Group, headquartered in Sweden, is a technology-driven, global leader in the Vehicle Inspection and the Intelligent Vehicle Support markets. Opus manages more than 30 million inspections annually and among other, is the clear leader in operating emission inspection programs in the United States.

Opus operates in five continents, in the United States, UK, Germany, Mexico, Argentina, Philippines, and Australia.

MOI Group is a consortium consisting of Met-Gün Inşaat Taahuut Ve Ticaret A.Ş., Opus Group AB (publ), Inversia Gestión sl, and VTV Norte S.A., an Opus Group company.

For more information contact Opus Group: opusturkiye@opusgroup.se

This information was brought to you by Cision http://news.cision.com

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IMO Celebrates 60 Years of Car Wash Innovation with Exciting Upgrades

MANCHESTER, England, March 7, 2025 /PRNewswire/ — As IMO Car Wash marks its 60th anniversary on March 8th, the world’s favourite car wash is celebrating in style—dressed in its bold new blue identity and unveiling a wave of cutting-edge innovations designed to deliver even better performance, value, and quality for drivers everywhere.

 

IMO celebrate 60 years of car wash innovation
IMO celebrate 60 years of car wash innovation

 

For six decades, IMO’s flagship washes have been trusted by millions across the globe. But never one to rest on its laurels, IMO has partnered with the smart minds at WashTec to launch a new range of enhanced wash products and services—setting new standards in car care while remaining kinder to the environment.

Introducing Graphene G60 – A Breakthrough in Car Protection

Leading the innovation charge for 2025 is Graphene G60, a game-changing wash formula that blends advanced carbon weave technology with a self-cleaning finish, delivering a ‘new car’ look with every wash. This revolutionary product is being trialled in 2025 at select IMO sites, giving customers the ultimate in innovation, protection and shine.

But the good news doesn’t stop there. Sustainability remains at the heart of IMO’s operations, with brand-new fine-mist applicators and next-generation water nozzles designed to minimise water consumption. Coupled with IMO’s continued investment in solar and wind power, as well as rainwater capture, the iconic blue brand is proving that innovation and eco-consciousness go hand in hand.

A Legacy of Excellence, A Future of Innovation

In a world of change, one thing remains constant—IMO’s dedication to car wash innovation. With 60 years of expertise, best-in-class products, and cutting-edge science, IMO continues to lead the way, serving over 25 million customers a year across 720 locations in Europe and Australia.

Here’s to 60 years of car wash excellence—and to an even brighter, cleaner future ahead.

Appotronics Nominated Exclusive Supplier of Automotive Cockpit Optical Components by Prominent Automaker

SHENZHEN, China, March 7, 2025 /PRNewswire/ — Appotronics (688007.SH), a pioneering company listed on the STAR Market of the Shanghai Stock Exchange, has announced that it has been selected by a prominent international automaker as the exclusive supplier of automotive optical components for the cockpit. This nomination underscores Appotronics’ exceptional technical expertise, robust technological advantages, and reinforces its leadership in the global automotive smart cockpit optics industry. It is expected to significantly enhance the company’s revenue from the automotive sector.

After more than half a year of intense competition with dozens of domestic and international rivals, Appotronics has emerged victorious. The company will provide a brand-new, cutting-edge product for the smart cockpit, complementing its previous offerings such as rollable laser projection screens. However, specific details about the product will only be revealed when the unnamed, yet highly reputable automaker, known for its rigorous standards, unveils its new vehicle models. The product will be integrated into a range of vehicles from this automaker, with an expected project lifecycle of five years. This is anticipated to substantially increase Appotronics’ automotive business revenue.

Appotronics’ 2024 annual performance forecast indicates that its automotive business will exceed RMB 600 million, driven by the timely delivery of laser products to automakers like Seres and Geely. Notably, the Seres AITO M9 model, featuring a rollable giant laser projection screen powered by Appotronics, has received over 200,000 cumulative firm orders within 12 months since its launch in December 2023. This has significantly accelerated Appotronics’ strategic shift towards the automotive sector, which began around 2022.

To date, Appotronics has secured 13 development orders for its automotive optics products, with three of these being confirmed in 2025.

About Appotronics

Appotronics is the inventor of the ALPD® laser display technology and a pioneering company listed on the STAR Market of the Shanghai Stock Exchange. From optics for the home, cinemas, and the automotive industry, even to AR glasses, Appotronics’ cutting-edge products are designed to meet the evolving needs of consumers and businesses worldwide.

HIGHWAY HOLDINGS APPOINTS MARCUM ASIA AS NEW AUDITOR

HONG KONG, March 7, 2025 /PRNewswire/ — Highway Holdings Limited (Nasdaq: HIHO) (the “Company” or “Highway Holdings”) today announced the appointment of Marcum Asia CPAs LLP, New York (“Marcum Asia”) as its new independent auditor, effective immediately and succeeding Hong Kong-based ARK Pro CPA & Co (“ARK”). The appointment is part of the Company’s ongoing commitment to maintaining the highest professional financial reporting to its stakeholders.  

This appointment follows a comprehensive selection process, during which Highway Holdings evaluated several leading audit firms to ensure the highest level of professional service and expertise. The Company had no disagreements with ARK, whether or not resolved, on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of ARK, would have caused it to make reference to the subject matter of the disagreement in connection with its report. No report of ARK on the financial statements of the Company for the past two fiscal years contained an adverse opinion or disclaimer of opinion or was modified as to audit scope or accounting principles.

This decision was adopted by the audit committee and ratified by the board of directors of the Company.

Marcum Asia, a respected international accounting and advisory firm, will now be responsible for auditing Highway Holdings’ financial statements and reporting processes. With a strong track record in providing high-quality audit and assurance services, Marcum Asia’s team of experienced professionals will work closely with Highway Holdings to ensure compliance with applicable regulations and best practices in financial reporting.

“We are excited to welcome Marcum Asia as our new auditor as part of the company’s ongoing professional upgrading of corporate standards in preparation for an upcoming generational transition, higher future growth and increased shareholder value,” said Roland Kohl, CEO and Chairman of Highway Holdings. “Their extensive experience and international presence make them the perfect partner to support our financial reporting processes and contribute to the continued growth and success of our company.”

“We are honored to have been selected by Highway Holdings as their independent auditor,” said Joy Pan, CPA and Senior Partner at Marcum Asia. “We look forward to working with their leadership team to further strengthen their financial reporting processes and support their continued success.”

Today’s appointment follows a comprehensive restructuring and rejuvenation of Highway Holdings’ Board of Directors to align with supporting its long-term growth strategy. With the restructuring, four new directors joined Highway Holdings bringing a wealth of experience in multinational business environments, with expertise in finance, manufacturing, entrepreneurship, strategy and M&A.

About Marcum Asia

Marcum Asia CPAs LLP (“Marcum Asia”) is a global network of independent accounting and advisory firms, specializing in audit, tax, and advisory services. With a focus on cross-border and international businesses, Marcum Asia delivers tailored solutions to help clients navigate complex financial environments and achieve long-term success. For more information visit www.marcumasia.com.

About Highway Holdings

Highway Holdings is an international manufacturer of a wide variety of quality parts and products for blue chip equipment manufacturers based primarily in Germany. Highway Holdings’ administrative offices are located in Hong Kong and its manufacturing facilities are located in Yangon, Myanmar and Shenzhen, China. For more information visit website www.highwayholdings.com.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements, which involve risks and uncertainties, including but not limited to economic, competitive, governmental, political and technological factors affecting the company’s revenues, operations, markets, products and prices, and other factors discussed in the company’s various filings with the Securities and Exchange Commission, including without limitation, the company’s annual reports on Form 20-F.

SU Group Secures Top Multi-Purpose Sports Venue

HONG KONG, March 7, 2025 /PRNewswire/ — SU Group Holdings Limited (Nasdaq: SUGP) (“SU Group” or the “Company”), an integrated security-related engineering services company in Hong Kong, today announced it provided critical access control gates that provide control access security for one of Asia’s largest multi-purpose sports, entertainment and leisure parks. SU Group’s access control gates play a crucial role in ensuring that large-scale events and operations at premiere venues run smoothly, securely, and efficiently. The Company’s access control gates offer several benefits ranging from improving security to increasing efficiency.

SU Group’s Chairman and CEO, Dave Chan, commented, “We are thrilled to announce another major win and are truly grateful for the opportunity to support this premier entertainment, sports, and leisure destination. This achievement underscores the continued strength of our operating model, particularly as we manage large-scale security, control, and access security programs.”

“These high-profile wins not only enhance our visibility and reinforce our long-term growth trajectory but also serve as a powerful catalyst for further business expansion. This represents a significant revenue opportunity that strengthens our confident outlook for 2025, as we remain focused on driving accelerated growth and delivering exceptional value to our shareholders.”

Advantages of using SU Group’s access control gates include:

  • Enhanced Security: SU Group’s access control gates help manage the flow of people entering large scale events, including stadiums, reducing the risk of unauthorized access or security breaches. They can be integrated with security systems like metal detectors, bag checks, and surveillance cameras to ensure a safe environment for spectators and staff.
  • Crowd Management: SU Group’s access control gates allow for better crowd control by ensuring that only ticketed individuals can enter specific areas, thus preventing overcrowding and ensuring a smoother flow of people before, during, and after events.
  • Faster Entry: By automating the entry process, SU Group’s access control gates significantly reduce wait times and help avoid congestion at stadium entrances, making the experience more convenient for fans.
  • Revenue Protection: SU Group’s access control gates ensure that only those who have purchased tickets can enter the stadium, thus protecting against unauthorized entry and potential revenue loss from illegal access.
  • Health and Safety Compliance: SU Group’s access control gates can be used to monitor capacity limits, ensuring a venue or event does not exceed safety regulations. In situations like health crises, including a pandemic, they can help with social distancing by regulating entry times and numbers.
  • Tracking and Analytics: Data collected from SU Group’s access control gates, including entry times, number of visitors, and peak times, can be used for better planning and decision-making for future events, including staff allocation, crowd control strategies, and operational improvements.

About SU Group Holdings Limited

SU Group (Nasdaq: SUGP) is an integrated security-related services company that primarily provides security-related engineering services, security guarding and screening services, and related vocational training services in Hong Kong. Through its subsidiaries, SU Group has been providing turnkey services to the existing infrastructure or planned development of its customers through the design, supply, installation, and maintenance of security systems for over two decades. The security systems that SU Group provides services include threat detection systems, traffic and pedestrian control systems, and extra-low voltage systems in private and public sectors, including commercial properties, public facilities, and residential properties in Hong Kong. For more information visit www.sugroup.com.hk.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “should,” “will,” “could” and similar expressions. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s ability to renew contracts with recurring customers; the Company’s ability to secure new contracts; the Company’s ability to accurately estimate risks and costs and perform contracts based on the Company’s estimates; the Company’s relationship with the Company’s suppliers and ability to manage quality issues of the systems; the Company’s ability to obtain or renew the Company’s registrations, licenses, and certificates; the Company’s ability to manage the Company’s subcontractors; the labor costs and the general condition of the labor market; the Company’s ability to compete effectively; the Company’s ability to successfully manage the Company’s capacity expansion and allocation in response to changing industry and market conditions; implementation of the Company’s expansion plans and the Company’s ability to obtain capital resources for planned growth; the Company’s ability to acquire sufficient products and obtain equipment and services from the Company’s suppliers in suitable quantity and quality; the Company’s dependence on key personnel; the Company’s ability to expand into new businesses, industries, or internationally and to undertake mergers, acquisitions, investments, or divestments; changes in technology and competing products; general economic and political conditions, including those related to the security-related engineering services industry; possible disruptions in commercial activities caused by events such as natural disasters, terrorist activities, political, economic, and social instability, and fluctuations in foreign currency exchange rates, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the “SEC”), including the Company’s most recently filed Annual Report on Form 20-F and its subsequent filings. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

 

KuCoin Launches KCS Loyalty Level Program: Redefine the KCS Ecosystem and Unlock New Privileges

VICTORIA, Seychelles, March 7, 2025 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of its brand new KCS Loyalty Level Program. This freshly launched program is designed to enhance the utility of existing and new KCS holders by introducing a tiered loyalty system that rewards users based on their KCS stakings. By joining the program, users are set to unlock premium benefits designed to maximize their trading experiences.

The KCS Loyalty Level Program introduces four distinct tiers: Explorer, Navigator, Voyager, and Pioneer, with benefits accessible starting from staking as little as 1 KCS to unlock the Explorer level. Each subsequent level offers progressively greater benefits, rewarding users for higher levels of engagement with the platform.

Key benefits of the KCS Loyalty Level Program include: increased KCS staking yields, higher additional bonuses for staking rewards, GemPool activities, trading fees discount, rebates of withdrawal fees, KuCard cashback, and increased zero-interest credit limits for new institutional and VIP users.

Exciting Campaign Activities: To celebrate the launch, KuCoin is also rolling out several campaign activities:

  • Existing KCS Holder Airdrop: An airdrop for existing KCS holders who meet the set threshold will be automatically granted to their staking accounts.
  • New KCS Holder Subscription Contest: New KCS holders that enter the Loyalty Program will be rewarded based on the leaderboard ranking.
  • Pioneer Member Additional Bonus: Pioneer-level users can participate in various activities to win prizes, including KCS and trading coupons.

“This new loyalty program underscores our commitment to enhancing user benefits and solidifying the market value of our platform coin,” said Alicia Kao, the Managing Director of KuCoin. “We’re dedicated to providing our users with more ways to benefit from being part of the KuCoin ecosystem, and this loyalty program is poised to transform how our users engage with our platform.”

Participate and jointly redefine the possibilities of KCS ecosystem with more gains and surprises on the way. For more details about the KCS Loyalty Level Program and to engage in the campaign activities, please visit KuCoin’s official website.

About KuCoin 

Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 39 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots.

KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. This recognition reflects its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence. Learn more: https://www.kucoin.com/.

Disclaimer:  This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions or any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances.