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Fully Backed Within 72 hours: Bybit Maintains 1:1 Customer Assets Ratio in Latest Proof of Reserves Audited Report by Hacken

DUBAI, UAE, Feb. 24, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has completed a fresh round of audit on Feb. 23, 2025 conducted by leading cybersecurity firm Hacken. The independent third-party report is published after Bybit restored reserves levels to a 1:1 ratio for in-scope digital assets within 72 hours following a major incident on Friday, Feb. 21.

A full audit of all relevant wallets containing 40 asset types,  by way of proof of liabilities and ownership, verified that Bybit possesses sufficient reserves to cover user assets 1:1 across the board. Key assets including BTC, ETH, SOL, USDT and USDC exceed 100% collateral ratios on Bybit. Held to high standards of transparency and prudence, Bybit reaffirms its commitment to fiscal vigilance and customer protection under all circumstances.

“Bybit fully backs all customer assets entrusted to our platform, maintaining a dynamic ratio of over 1:1,” said Ben Zhou, Co-founder and CEO of Bybit. “We are fortunate to have all-weather friends in a cut-throat industry—our peers and even competitors stood with us during challenging times, and our customers deserve the same level of commitment,” he added.

Key Highlights of Bybit’s 19th PoR Audit:

  • Comprehensive Audit Process: Hacken conducted an extensive audit of Bybit’s liabilities, utilizing the Merkle tree to verify the integrity of the assets reported.
  • User Address Verification: Hacken obtained information from Bybit management regarding all public key addresses holding in-scope assets and verified expected blockchain transactions to confirm control and ownership.
  • Rigorous Validation Procedures: The validation process included a thorough review using the official Merkle proof validation methods, ensuring the accuracy of the reported liabilities.

“Bybit’s focus on transparency through regular Proof of Reserves audits and independent assessments sets a strong standard within the industry. We appreciate being part of this important initiative during this critical period,” said Yevheniia Broshevan, Co-Founder & CBDO at Hacken.

As of Feb. 24, Bybit fully closed the ETH gap of client assets within 72 hours. This was achieved through strategic partnerships with firms like Galaxy Digital, FalconX, and Wintermute, along with support from Bitget, MEXC and DWF Labs, who helped Bybit replenish the reserves in record time. The rapid execution of these funding strategies underscores Bybit’s robust industry relationships and its capability to maintain platform stability during challenging times, reflecting the industry’s shared vision of a new era of reliable financial system.

By prioritizing independent verification and comprehensive audits, Bybit reinforces its commitment to user trust and transparency. The exchange regularly reviews best practices, emergency responses, and security infrastructure to meet the rising challenges and demands in the digital asset industry.

Bybit’s Proof of Reserves: https://www.bybit.com/app/user/audit-report 

#Bybit / #TheCryptoArk / #ProofofReserves / #PoR

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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SMU GRADUATES REMAIN HIGHLY EMPLOYABLE AMID CHANGING JOB MARKET

Higher Salaries, Strong Internship-to-Employment Pipeline, and Industry Demand Drive Graduate Success

SINGAPORE, Feb. 24, 2025 /PRNewswire/ — The latest Graduate Employment Survey (GES) 2024 underscores Singapore Management University’s (SMU) enduring appeal to employers, amidst lower hiring demand. With an 89.8% overall employment rate, SMU graduates remain in high demand, with their salaries continuing an upward trajectory across key industries. The results were revealed in the annual Joint Autonomous Universities Graduate Employment Survey (JAUGES), jointly conducted by SMU and the other Autonomous Universities. Of the 2,300-strong graduating cohort, 1,742 students (75.7%) participated in the survey, offering a snapshot of employment trends that reflect both resilience and adaptation in an evolving economic landscape.

SMU GRADUATES REMAIN HIGHLY EMPLOYABLE_GES2024
SMU GRADUATES REMAIN HIGHLY EMPLOYABLE_GES2024

Strong Graduate Employability

SMU continues to achieve strong overall employment rates (89.8%) and full-time permanent employment rates (83.4%).

Graduates Command Higher Salaries

SMU graduates are also commanding higher wages, with the average gross monthly salary rising to $5,057, a 3.4% increase from last year. The median gross salary of SMU graduates also increased from $4,500 to $4,600 (see Annex A for more details)

Internships Cement Career Pathways

A hallmark of SMU’s industry-centric education, the university’s mandatory internship programme has played a pivotal role in preparing students for the workforce.

  • 79.9% of graduates completed more than one internship, with an average of 2.8 internships per student, ensuring they enter the job market with real-world experience.
  • 31.6% of graduates who found full-time permanent employment had secured roles at the companies they interned with, underscoring SMU’s strong industry linkages.

SMU graduates remain highly sought after in Finance & Insurance, Legal, Accounting & Auditing, and Information & Communication, reflecting sustained employer demand across key industries. More than 60% secured employment before graduation, demonstrating the strong market confidence in SMU’s talent pipeline and the university’s emphasis on experiential learning and industry-aligned education, where students are challenged to use their disciplinary knowledge to tackle real world issues through interdisciplinary approaches.

Through collaborations within the SMU community and with external stakeholders, opportunities are provided for students to establish valuable new contacts for securing future internships and/or employment locally and globally.

SMU Graduates Credit University for Personal and Professional Growth 98% of graduates reported that their time at SMU had a positive influence on their personal growth. Beyond academics, SMU’s distinctive education approach has equipped graduates with essential life and career skills. A strong 97.1% credited the university with enhancing their interpersonal and collaboration skills, while 97.5% felt they had significantly improved in communication and engagement. Additionally, 96% of graduates stated that SMU had effectively prepared them with critical thinking capabilities and a strong sense of personal development ownership.

These findings underscore SMU’s commitment to developing well-rounded, future-ready leaders equipped to thrive in a rapidly evolving world. 

SMU’s Commitment to Future-Ready Education

SMU’s high employment rates stem from its distinctive experiential learning model, which integrates academia with real-world application. The SMU-X programme connects students with industry leaders to tackle live business challenges, while its mandatory internships, community service and global exposure requirements ensure graduates develop adaptability, cross-cultural fluency, and a sense of social responsibility—attributes highly valued in today’s evolving job market.

SMU Provost, Professor Timothy Clark, remarked: SMU’s graduate success is no accident—it is the result of an education model designed for relevance and lifelong impact. Our emphasis on interdisciplinary learning, experiential internships, and close industry collaboration ensures our graduates are not just job-ready, but future-ready. The strong employment outcomes reaffirm SMU’s role as a university that produces distinctive, adaptable, purpose-driven, high-calibre talent, well-prepared to navigate a rapidly evolving global economy.”

As Singapore navigates a rapidly transforming economic landscape, SMU remains committed to equipping students with the skills, agility, and industry experience to lead and succeed.

About SMU’s Dato’ Kho Hui Meng Career Centre (DKHMCC)

DKHMCC offers a range of comprehensive services, programmes, and resources for SMU students to chart their career directions and empowers them with the necessary skills to realise their potential and goals.

Each student is assigned a career coach upon matriculation to support him/her in career planning through his/her four-year journey at SMU. These certified coaches from DKHMCC come from diverse backgrounds and are in tune with industry developments and trends. They administer personality/career profiling tools, critique cover letters and resumes, facilitate job searches, and hone students’ interview skills.

In addition, DKHMCC offers a suite of internship readiness modules and career readiness workshops from the freshman year as part of SMU’s pioneering Finishing Touch programme. The programme equips SMU undergraduates with career planning and transferable skills, geared towards enhancing their employment prospects and fulfilling their career goals progressively throughout the four-year course of study. Every year, DKHMCC organises more than 400 events which include career and industry talks, employability clinics, career fairs, as well as networking events, for our students.

Recognising the importance and value of having real-world and career-relevant work experience for its students, SMU is the first university in Singapore to make internships compulsory for all students. Students are provided opportunities via DKHMCC, which works closely with industry to ensure successful placements in internships and jobs. The DKHMCC’s close and regular contact with employers is vital in helping SMU students be market-relevant and career-ready. Students also have access to a 24/7 web-based portal (OnTRAC) to search for internships and career opportunities.

DKHMCC also continues to support graduates up to three years after their graduation, with continued access to the jobs portal, employability clinics and personalised assistance by individual career coaches, should they require further guidance.

About SMU

A premier university in Asia, SMU is internationally recognised for its world-class research and distinguished teaching. Established in 2000, SMU’s mission is to generate leading-edge research with global impact and to produce broad-based, creative, and entrepreneurial leaders for the knowledge-based economy. SMU’s education is known for its highly interactive, collaborative, and project-based approach to learning.

Home to over 13,000 students across undergraduate, postgraduate professional and postgraduate research programmes, SMU comprises eight schools: School of Accountancy, Lee Kong Chian School of Business, School of Economics, School of Computing and Information Systems, Yong Pung How School of Law, School of Social Sciences, College of Integrative Studies, and College of Graduate Research Studies. SMU offers a wide range of bachelors’, masters’, and PhD degree programmes in the disciplinary areas associated with its schools, as well as in multidisciplinary combinations of these areas.

SMU emphasises rigorous, high-impact, multi- and interdisciplinary research that addresses Asian issues of global relevance. SMU faculty members collaborate with leading international researchers and universities around the world, as well as with partners in the business community and public sector. SMU’s city campus is a modern facility located in the heart of downtown Singapore, fostering strategic linkages with business, government, and the wider community. www.smu.edu.sg

SMU celebrates its 25 years of meaningful impact this year, and remains committed to its vision of driving innovation, transcending boundaries and transforming lives.

ANNEX 

SMU’s 2024 graduates across all eight of the University degree programmes enjoyed competitive monthly salaries

Computer Science graduates earned a mean gross monthly salary of $6,245, as compared to the 2023 cohort’s $6,120. The median gross monthly salary is $6,000 as compared to $5,800 in 2023. Those with Cum Laude or better earned a higher median gross monthly salary of $6,400 as compared to $6,250.

Economics graduates earned a mean gross monthly salary of $5,069, up from $4,937 in 2023. The median gross monthly salary was $4,753, an increase from $4,500 in 2023. Those with Cum Laude or better earned a mean gross monthly salary of $5,523, while the median gross monthly salary was $5,000, an increase in the previous year’s $4,833.

Business Management graduates earned a mean gross monthly salary of $5,007, as compared to last year’s $4,795. The median gross monthly salary was $4,500, up from $4,436 in 2023. Those with Cum Laude or better earned a higher mean gross monthly salary of $5,323, while the median gross monthly salary was $4,825.

Accountancy graduates earned a mean gross monthly salary of $4,755 as compared to $4,463 in 2023. The median gross monthly salary is $4,350, up from $3,900 in 2023. Those with Cum Laude or better earned a mean gross monthly salary of $5,074 while the median gross monthly salary was $4,500.

Social Sciences graduates earned a mean gross monthly salary of $4,553 as compared to $4,330 in 2023. The median gross monthly salary is $4,334, an increase from last year’s $4,000. Those with Cum Laude or better earned a mean gross monthly salary of $4,823, higher than last year’s $4,547. The median gross monthly salary was $4,500.

Information Systems graduates earned a mean gross monthly salary of $5,362, as compared to the 2023 cohort’s $5,530. The median gross monthly salary is $5,000. Those with Cum Laude or better earned a mean gross monthly salary of $5,954 and a median gross monthly salary of $5,549.

The follow-up survey[1] on SMU Law graduates showed that overall employment rate stood at 97.6%. The mean and median gross monthly salaries of Law graduates in full-time permanent employment were $6,585 and $7,000 respectively. Those who attained a Cum Laude and above had a mean gross monthly salary of $6,775 and median gross monthly salary of $7,000.

Please refer to attached table ANNEX A for the detailed figures.

Explanatory Note: Cum Laude and Merit Awards 

SMU uses the cumulative Grade Point Average (GPA) criteria to identify degree candidates with academic excellence in the following award categories: Summa Cum Laude, Magna Cum Laude and Cum Laude. These are Latin awards adopted from the American system, and can be translated as with Highest Distinction, with High Distinction and with Distinction, respectively.

They do not equate to the various classes of degree honours conferred by universities that follow the British system of academic honours. A graduate needs a GPA of at least 3.40 out of 4.00 to be awarded Cum Laude. All SMU bachelor degrees are four-year full-time programmes.

Cumulative GPA

Awards

≥ 3.80

Summa Cum Laude

3.60 to 3.79

Magna Cum Laude

3.40 to 3.59

Cum Laude

3.20 to 3.39

High Merit

3.00 to 3.19

Merit

 

[1] SMU’s Law graduates Class of 2023 were surveyed in JAUGES 2024 to allow for those who choose to continue with pupillage in the first six months after their graduation to complete their practical training.

 

Jiu Zhang Holding Releases First Environmental, Social and Corporate Governance Report: Led by “Technological Innovation + Green Development”

SHANGHAI, Feb. 24, 2025 /PRNewswire/ — Jiu Zhang Holding Limited (“Jiu Zhang Holding” or the “Company”), a leading company specializing in global online audio marketing services, released its first annual “Environmental, Social and Corporate Governance (ESG) Report”(“Report”), marking an important step in practicing its commitment to sustainable development. The Report demonstrates Jiu Zhang Holding‘ practical path and achievements in environmental protection, social responsibility and corporate governance, and is fully in line with the company’s ESG strategy of “Taking the right path and the broad path”.

For decades, Jiu Zhang Holding has always adhered to the corporate mission of “creating a full-scene digital marketing decision-making platform”, upheld the corporate vision of “driving industry with technology, empowering marketing with intelligence”, guided by the values of “honesty and integrity, cooperation and innovation, customer first and embracing change”, implemented the concept of sustainable development in the whole chain of its operation and management, and strives to build an ESG system with the characteristics of Jiu Zhang, this report presents the important milestones in its sustainable development journey.

Practicing green development and contributing to the dual-carbon goal

Jiu Zhang Holding applies the concept of green development to all aspects of the company’s operations, strictly abides by the international environmental protection legal system such as “International Environmental Law” and “International Environmental Protection Convention”,  formulates the company’s “Environmental Protection Responsibility System and Program”, sets clear environmental goals, and organize employees to carry out a series of environmental protection activities in office and life.

Help reduce carbon and consumption, advocate all staff to save electricity, develop the habit of green and low-carbon production methods; call on employees to reduce business trip, hold online teleconferences, and encourage environmentally friendly office commuting; implement paperless office, adopt Office Automation System for the management of digital electronic invoices, bills and other electronic documents to reduce paper consumption and express delivery; all departments comply with management duties, and have never been any major environmental violations and penalties…Jiu Zhang Holding has made great efforts and achieved remarkable results in practicing green operation and development.

Innovative research and development take the lead, explore barrier-free construction

Jiu Zhang Holding has been deeply engaged in the digital marketing industry for 17 years. With its experience and resource advantages in the field of big data and artificial intelligence, it has taken the lead in using “AI Digital Marketing Algorithm Model” in the field of advertising marketing. Its core product “iVoice Digital Audio Intelligent Marketing Decision-making Platform” has developed into the largest digital audio advertising platform in China. The company invests tens of millions of RMB in research and development every year, with over 80% of research and development staff, and assist employees’ career development, invests more than 500,000 RMB and total over 400 hours for employee training.

Jiu Zhang Holding is a member of China Software Industry Association and Shanghai Artificial Intelligence Industry Association. Ms. Yang Xuying, the Founder & CEO, as the vice president and review expert of Shanghai Advertising Association, led the team to actively participate in the formulation of a number of industry standards such as “Digital Audio Advertising Content Technical Specification”, which has helped the industry to standardize and develop in a healthy and orderly manner.

The company joins hands with Shanghai University and other renowned universities to explore research, solutions, forum activities and other barrier-free information dissemination for the vulnerable groups of the visually impaired and hearing impaired, and promotes the integration of industry-academia-research with the construction of barrier-free environment.

Based on the industry leader, benefits to stakeholders

Jiu Zhang Holding attaches great importance to product development and quality assurance, and is firmly committed to providing users with comprehensive information and data security and privacy protection. Through ISO 9001, ISO 56005, GB/T 29490 and other system certifications, more than one hundred software copyrights and technical invention patents have been authorized by the end of 2024, and dozens of other intellectual property rights in the stage of substantive review,  laying a solid foundation for continued leadership in the field of online audio marketing services.

The Company has always taken into account the needs of shareholders such as shareholders, customers, employees, universities and the public, adhered to compliant operations, maintained good business performance and continuously optimized the governance structure, proactively participated in the ranks of green, low-carbon and sustainable business models, actively participated in domestic and international information technology industry exchange activities,  and sustainable development research institutions related training, to enhancement of corporate ESG management, respond to the market’s expectations for the high-quality development of Jiu Zhang Holding.

Accelerating the transformation and upgrading of “digitalization and intelligence”, with wisdom and green as the core driving forces of change, Jiu Zhang Holding focuses on several major dimensions: technology for good on the ground, abide by the compliance and steady operation, high-quality products and services to lead, people-oriented integration and symbiosis, barrier-free construction for win-win cooperation. After more than ten years of unremitting persistence and practice, Jiu Zhang Holding continues to build new quality productivity. In the future, Jiu Zhang Holding will continue to create greater value for the industry through “technological innovation + green development”, work hand in hand with partners to jointly promote the construction of an open, collaborative, and win-win green low-carbon economic ecology.

WeBank Wins Three Awards at The Asian Banker Excellence in Retail Finance Services Awards Ceremony 2025

TOKYO, Feb. 24, 2025 /PRNewswire/ — WeBank  was honored with three prestigious awards at The Asian Banker’s 2025 Banking Innovation Annual Meeting and Global Excellence in Retail Financial Services Awards Ceremony recently held in Tokyo, Japan. The accolades include “Best Digital Bank in Asia Pacific“, “Best Digital Bank in China” and “Best AI/Gen AI Application in SME Marketing Initiative in Asia Pacific“, recognizing WeBank’s outstanding achievements in inclusive finance and innovative application of financial technology in MSME finance.

The Asian Banker Awards are among the most authoritative and influential in the global financial industry. WeBank’s multiple international awards underscore the recognition among leading international institutions of its accomplishments in inclusive and digital finance practices.

At the ceremony, Fang Zhenyu, Vice President of WeBank, addressed, “In just ten years since our establishment, WeBank has served over 400 million customers, all made possible by the innovative business model and digital technology. The rapid development of cutting-edge technologies and the application of AI model tools are starting to make an impact across the industry. We believe this impact will lead to transformative breakthroughs in the financial industry and its models. At WeBank, we embrace collaboration with partners around the world to unleash the power of finance and technology. I believe we can strive to drive change together and create sustainable value for society.”

Recognized for the Inclusive Finance Practice with Six Wins of “Best Digital Bank in Asia Pacific

Since 2021, The Asian Banker has evaluated over 160 digital banks from 42 markets in five key areas: customer base, market/product coverage, profitability, asset and deposit growth, and funding. The annual “Global Top 100 Digital-only Banks Ranking” recognizes market leadership among digital banks, and has become a global benchmark for measuring the success of the industry, on local, regional, and global levels.

At the awards ceremony, WeBank was named “Best Digital Bank in Asia Pacific” and “Best Digital Bank in China” in the 2025 Global Top 100 Digital-only Banks ranking. This marks the sixth time WeBank received the “Best Digital Bank in Asia Pacific” award from The Asian Banker.

WeBank was named “Best Digital Bank in Asia Pacific”
WeBank was named “Best Digital Bank in Asia Pacific”

The Asian Banker noted that WeBank, with the largest customer base globally, has served a broad range of individual customers and MSMEs, with excellent profitability and operational efficiency. Leveraging AI, big data, cloud computing, and blockchain, WeBank provides scalable, secure, and efficient services. 

WeBank remains committed to its technology-driven core strategy and continues to deepen its efforts in the research and development of cutting-edge technologies such as artificial intelligence, big data, cloud computing, and blockchain. With over 4,000 patent applications and 38 open-source projects, WeBank has established a comprehensive technology capacity and embraces collaboration with global partners.

Since its establishment, WeBank has built its distributed core banking system, which is capable of supporting hundreds of millions of customers and high-concurrency transactions. This system has reduced the bank’s annual IT O&M cost per account to below 0.3 USD, less than one-tenth of that of its domestic and international peers, with a peak daily transaction volume exceeding 1.4 billion. This has laid a solid foundation for the bank to practice inclusive finance and serving MSMEs.

WeBank has explored a sustainable approach of digital banking and contributes to the development of digital inclusive finance. WeBank has continuously enhanced its financial product offerings for the individual customers and MSMEs, such as “Weilidai”, “Weiyedai” and WeBank Wealth+, actively optimizing fundamental financial services, including credit, wealth management, deposits, and account services. As of the end of June 2024, WeBank has served over 400 million individual customers and more than 5 million MSMEs have applied for loans.

Deepening AI Model Applications to Empower Intelligent Marketing

In The Asian Banker’s “Global Excellence in Retail Finance Awards”, WeBank is recognized as the “Best AI/Gen AI Application in SME Marketing Initiative in Asia Pacific” for 2025.

The Asian Banker stated, “By deploying hundreds of domain-trained generative AI models, the bank enables precise product recommendations, such as seasonal credit extensions tailored to business cycles, ensuring SMEs receive customized financial solutions. Beyond financing, the initiative enhances customer service through AI-powered platforms, significantly improving issue resolution rates and reducing turnaround time. This data-driven approach has resulted in a substantial increase in marketing, reinforcing the bank’s leadership in SME-focused digital banking.”

According to the Asian Banker, WeBank has demonstrated excellence in understanding and meeting evolving customer needs, customer journey and experience, as well as excellence in digitalization and application of AI and digital ecosystems that drive efficiency and engagement, embedding finance in the customer experience, outperforming regional and local peers.

WeBank has applied innovative achievements of generative AI technology to its inclusive finance business. As WeBank’s MSME finance business rapidly develops, corporate customers are demanding higher levels of refinement, digitization, and intelligence in their operations. To address this, WeBank’s MSME finance has developed a “Data + Generative AI” dual-driven approach to upgrade its intelligent marketing capabilities, improving MSME coverage, product matching accuracy, and customer satisfaction.

About WeBank

Launched in 2014, WeBank Co., Ltd. (“WeBank”) is the first digital bank in China. WeBank provides convenient financial services to micro-, small- and medium-sized enterprises (MSMEs) and the public, and continuously improves the quality of services in response to customers’ specific needs. WeBank ranks No. 1 in The Asian Banker’s Global Top 100 Digital Banks in 2025. By June 2024, WeBank has served over 400 million retail customers and 5 million MSMEs.

WeBank focuses on innovation and technology. WeBank has maintained its proportion of technical personnel above 50% since its establishment, while its research and development expenses have accounted for around 10% of its revenue. WeBank is now at the top of the industry in core technologies such as artificial intelligence (AI), blockchain, cloud computing and big data.

 

Acurx Announces Publication of Positive Results from an In-Silico Study Predicting the Microbiome-Restorative Potential of Ibezapolstat in the Treatment of CDI

  • Major finding provides mechanistic explanation for ibezapolstat’s (IBZ) selectivity in that the predicted bactericidal interaction between IBZ and its target DNA pol IIIC is conserved across most of the Bacillota phylum, including C. difficile, while certain beneficial taxa are naturally resistant to IBZ, allowing regrowth of resistant microbes known to confer health benefits
  • This study used in silico methods to better interpret the narrower than expected ibezapolstat (IBZ) spectrum of activity observed in human trials, which included increased proportion of certain key gut microbiota of the Bacillota phylum
  • IBZ susceptibility of human commensal (nonpathogenic) microbiota was predicted using genomic analysis and a phylogenetic tree construction of the IBZ target enzyme, pol IIIC
  • Preparation continues to advance IBZ into international Ph3 clinical trials for treatment of CDI
  • IBZ has previously been granted FDA QIDP and Fast-Track Designation and has received SME (Small and Medium-sized Enterprise) designation by the EMA

STATEN ISLAND, N.Y., Feb. 24, 2025 /PRNewswire/ — Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) (“Acurx” or the “Company”) is a late-stage biopharmaceutical company developing a new class of small molecule antibiotics for difficult-to-treat bacterial infections, with its lead antibiotic candidate, ibezapolstat (IBZ), preparing to advance to international Phase 3 clinical trials to treat patients with C. difficile Infection (CDI). The Company today announced the results of a study and its publication in the Journal of Antimicrobial Agents and Chemotherapeutics entitled: “The Microbiome-restorative Potential of Ibezapolstat for the Treatment of Clostridioides difficile Infection is Predicted Through Variant PolC-type DNA Polymerase III in Lachnospiraceae and Oscillospiraceae”. The primary researcher and author is Jacob K. McPherson, PharmD, a PhD Pharmacology Candidate at the University of Houston. This study was funded by the National Institute of Allergy and Infectious Diseases at the National Institutes of Health.

According to co-author Kevin Garey, PharmD, MS, FIDSA, Professor and Chair, University of Houston College of Pharmacy, Principal Investigator for microbiology and microbiome aspects of the ibezapolstat clinical trial program, and Acurx Scientific Advisory Board member: “These studies help to explain the narrower than expected spectrum of activity of ibezapolstat in our ongoing clinical trials that helps explain regrowth of beneficial gut microbiota while patients are on ibezapolstat therapy.” He added: “Genomic differences in the PolC between these species affect the binding of ibezapolstat allowing these beneficial microbes to be resistant and confer health benefits. This is distinctly different that the comparator vancomycin which kills these beneficial microbes causing high rates of C. difficile recurrence.”

Acurx’s Executive Chairman, Bob DeLuccia, stated: “This in silico genomic analysis complements the structural biology data emerging from our scientific collaboration with Leiden University Medical Center.” He further stated: “We’re confident that these results can be leveraged to advance not only the ibezapolstat program but also our systemic Gram-positive antibiotic discovery program in lead optimization for an oral pol IIIC inhibitor for methicillin-resistant Staphylococcus aureus (MRSA) and in parallel planning for our anti-anthrax bioterrorism program.”

During clinical trials with IBZ, a narrower than expected spectrum of activity was observed that included increased proportion of certain key microbiota of the Bacillota phylum known to confer health benefits, specifically Lachnospiraceae, Oscillospiraceae (formerly Ruminococcaceae), and Coprobacillaceae within Erysipelotrichales. The purpose of this study was to utilize in silico approaches to better interpret the narrower than expected IBZ spectrum of activity observed in human trials. IBZ susceptibility to human commensal microbiota was predicted using genomic analysis and PolC phylogenetic tree construction in relation to C. difficile and commensal low G + C bacteria. An amino acid phylogenetic tree identified certain residues that were phylogenetically variant in Lachnospiraceae, Oscillospiraceae, and Erysipelotrichales but conserved in C. difficile. The major finding of this study was that the predicted interactions between IBZ and pol IIIC is conserved across the majority of the Bacillota phylum except for Lachnospiraceae and Oscillospiraceae, and Erysipelotrichales (including Erysipelotrichaceae and Coprobacillaceae), taxa that were not killed or regrown in IBZ-treated subjects while on therapy.

THE PUBLICATION IS ON OUR WEBSITE: www.acurxpharma.com

About the AAC Journal:
Antimicrobial Agents and Chemotherapy (AAC) is an interdisciplinary journal devoted to the dissemination of knowledge relating to all aspects of antimicrobial and antiparasitic agents and chemotherapy. Generally, any report involving studies on or with antimicrobial, antiviral (including antiretroviral), or antiparasitic agents is within the purview of AAC. Studies involving animal models, pharmacological characterization, and clinical trials are appropriate for consideration.

Acurx previously announced that it had received positive regulatory guidance from the EMA during its Scientific Advice Procedure which confirmed that the clinical, non-clinical and CMC (Chemistry Manufacturing and Controls) information package submitted to EMA supports advancement of the ibezapolstat Phase 3 program and if the Phase 3 program is successful, supports the submission of a Marketing Authorization Application (MAA) for regulatory approval in Europe. The information package submitted to EMA by the Company to which agreement has been reached with EMA included details on Acurx’s two planned international Phase 3 clinical trials, 1:1 randomized (designed as non-inferiority vs vancomycin), primary and secondary endpoints, sample size, statistical analysis plan and the overall registration safety database. With mutually consistent feedback from both EMA and FDA, Acurx is well positioned to commence our international Phase 3 registration program.

The primary efficacy analysis will be performed using a Modified Intent-To-Treat (mITT) population. This will result in an estimated 450 subjects in the mITT population, randomized in a 1:1 ratio to either ibezapolstat or standard- of-care vancomycin, enrolled into the initial Phase 3 trial. The trial design not only allows determination of ibezapolstat’s ability to achieve Clinical Cure of CDI as measured 2 days after 10 days of oral treatment but also includes assessment of ibezapolstat’s potential effect on reduction of CDI recurrence in the target population. In the event non-inferiority of ibezapolstat to vancomycin is demonstrated, further analysis will be conducted to test for superiority.

About the Ibezapolstat Phase 2 Clinical Trial
The completed multicenter, open-label single-arm segment (Phase 2a) study was followed by a double-blind, randomized, active-controlled, non-inferiority, segment (Phase 2b) at 28 US clinical trial sites which together comprise the Phase 2 clinical trial. (Link to Clinicaltrials.gov/NCT042447542) This Phase 2 clinical trial was designed to evaluate the clinical efficacy of ibezapolstat in the treatment of CDI including pharmacokinetics and microbiome changes from baseline. from study centers in the United States. In the Phase 2a trial segment,10 patients with diarrhea caused by C. difficile were treated with ibezapolstat 450 mg orally, twice daily for 10 days. All patients were followed for recurrence for 28± 2 days. Per protocol, after 10 patients of the projected 20 Phase 2a patients completed treatment (100% cured infection at End of Treatment).

In the Phase 2b trial segment, which was discontinued due to success, 32 patients with CDI were enrolled and randomized in a 1:1 ratio to either ibezapolstat 450 mg every 12 hours or vancomycin 125 mg orally every 6 hours, in each case, for 10 days and followed for 28 ± 2 days following the end of treatment for recurrence of CDI. The two treatments were identical in appearance, dosing times, and number of capsules administered to maintain the blind.

The Company previously reported that the overall observed Clinical Cure rate in the combined Phase 2 trials in patients with CDI was 96% (25 out of 26 patients), based on 10 out of 10 patients (100%) in Phase 2a in the Modified Intent to Treat Population, plus 15 out of 16 (94%) patients in Phase 2b in the Per Protocol Population, who experienced Clinical Cure during treatment with ibezapolstat. Ibezapolstat was well-tolerated, with three patients each experiencing one mild adverse event assessed by the blinded investigator to be drug- related. All three events were gastrointestinal in nature and resolved without treatment.

There were no drug-related treatment withdrawals or no drug-related serious adverse events, or other safety findings of concern. In the Phase 2b vancomycin control arm, 14 out of 14 patients experienced Clinical Cure. The Company is confident that based on the pooled Phase 2 ibezapolstat Clinical Cure rate of 96% and the historical vancomycin cure rate of approximately 81% (Vancocin® Prescribing Information, January 2021), we will demonstrate non-inferiority of ibezapolstat to vancomycin in Phase 3 trials in accordance with the applicable FDA Guidance for Industry (October 2022).

In the Phase 2 clinical trial (both trial segments), the Company also evaluated pharmacokinetics (PK) and microbiome changes and test for anti-recurrence microbiome properties, including the change from baseline in alpha diversity and bacterial abundance, especially overgrowth of healthy gut microbiota Actinobacteria and Firmicute phylum species during and after therapy. Phase 2a data demonstrated complete eradication of colonic C. difficile by day three of treatment with ibezapolstat as well as the observed overgrowth of healthy gut microbiota, Actinobacteria and Firmicute phyla species, during and after therapy. Very importantly, emerging data show an increased concentration of secondary bile acids during and following ibezapolstat therapy which is known to correlate with colonization resistance against C. difficile. A decrease in primary bile acids and the favorable increase in the ratio of secondary-to-primary bile acids suggest that ibezapolstat may reduce the likelihood of CDI recurrence when compared to vancomycin. The company also recently reported positive extended clinical cure (ECC) data for ibezapolstat (IBZ), its lead antibiotic candidate, from the Company’s recently completed Phase 2b clinical trial in patients with CDI. This exploratory endpoint showed that 12 patients who agreed to be followed up to three months following Clinical Cure of their infection, 5 of 5 IBZ patients experienced no recurrence of infection. In the vancomycin control arm of the trial, 7 of 7 patients experienced no recurrence of infection. ECC success is defined as a clinical cure at the TOC visit (i.e., at least 48 hours post EOT) and no recurrence of CDI within the 56 ± 2 days post EOT (ECC56) and 84 ± 2 days post EOT (ECC84) in patients who consented to extended observation. In the Phase 2b trial, 100% (5 of 5) of ibezapolstat-treated patients who agreed to observation for up to three months following Clinical Cure of CDI experienced no recurrence of infection. Furthermore, ibezapolstat-treated patients showed lower concentrations of fecal primary bile acids, and higher beneficial ratio of secondary to primary bile acids than vancomycin-treated patients.

About Ibezapolstat
Ibezapolstat is the Company’s lead antibiotic candidate planning to advance to international Phase 3 clinical trials to treat patients with C. difficile Infection (CDI). Ibezapolstat is a novel, orally administered antibiotic, being developed as a Gram-Positive Selective Spectrum (GPSS®) antibacterial. It is the first of a new class of DNA polymerase IIIC inhibitors under development by Acurx to treat bacterial infections. Ibezapolstat’s unique spectrum of activity, which includes C. difficile but spares other Firmicutes and the important Actinobacteria phyla, appears to contribute to the maintenance of a healthy gut microbiome.

In June 2018, ibezapolstat was designated by the U.S. Food and Drug Administration (FDA) as a Qualified Infectious Disease Product (QIDP) for the treatment of patients with CDI and will be eligible to benefit from the incentives for the development of new antibiotics established under the Generating New Antibiotic Incentives Now (GAIN) Act. In 2019, FDA granted “Fast Track” designation to ibezapolstat for the treatment of patients with CDI. The CDC has designated C. difficile as an urgent threat highlighting the need for new antibiotics to treat CDI.

About Clostridioides difficile Infection (CDI)
According to the 2017 Update (published February 2018) of the Clinical Practice Guidelines for C. difficile Infection by the Infectious Diseases Society of America (IDSA) and Society or Healthcare Epidemiology of America (SHEA), CDI remains a significant medical problem in hospitals, in long-term care facilities and in the community. C. difficile is one of the most common causes of health care- associated infections in U.S. hospitals (Lessa, et al, 2015,

New England Journal of Medicine). Recent estimates suggest C. difficile approaches 500,000 infections annually in the U.S. and is associated with approximately 20,000 deaths annually. (Guh, 2020, New England Journal of Medicine). Based on internal estimates, the recurrence rate for the antibiotics currently used to treat CDI is between 20% and 40% among approximately 150,000 patients treated. We believe the annual incidence of CDI in the U.S. approaches 600,000 infections and a mortality rate of approximately 9.3%.

About the Microbiome in C. difficile Infection (CDI) and Bile Acid Metabolism
C. difficile can be a normal component of the healthy gut microbiome, but when the microbiome is thrown out of balance, the C. difficile can thrive and cause an infection. After colonization with C. difficile, the organism produces and releases the main virulence factors, the two large clostridial toxins A (TcdA) and B (TcdB). (Kachrimanidou, Microorganisms 2020, 8, 200; doi:10.3390/microorganisms8020200.) TcdA and TcdB are exotoxins that bind to human intestinal epithelial cells and are responsible for inflammation, fluid and mucous secretion, as well as damage to the intestinal mucosa. Bile acids perform many functional roles in the GI tract, with one of the most important being maintenance of a healthy microbiome by inhibiting C. difficile growth. Primary bile acids, which are secreted by the liver into the intestines, promote germination of C. difficile spores and thereby increase the risk of recurrent CDI after successful treatment of an initial episode. On the other hand, secondary bile acids, which are produced by normal gut microbiota through metabolism of primary bile acids, do not induce C. difficile sporulation and therefore protect against recurrent disease. Since ibezapolstat treatment leads to minimal disruption of the gut microbiome, bacterial production of secondary bile acids continues which may contribute to an anti-recurrence effect. Beneficial effects of bile acids include a decrease in primary bile acids and an increase in secondary bile acids in patients with CDI, which was observed in the Company’s Ph2a trial results and previously reported (CID, 2022). In the Ph2b trial, ibezapolstat-treated patients showed lower concentrations of fecal primary bile acids, and higher beneficial ratio of secondary to primary bile acids than vancomycin-treated patients.

About Acurx Pharmaceuticals, Inc.
Acurx Pharmaceuticals is a late-stage biopharmaceutical company focused on developing a new class of small molecule antibiotics for difficult-to-treat bacterial infections. The Company’s approach is to develop antibiotic candidates with a Gram-positive selective spectrum (GPSS®) that blocks the active site of the Gram-positive specific bacterial enzyme DNA polymerase IIIC (pol IIIC), inhibiting DNA replication and leading to Gram-positive bacterial cell death. Its R&D pipeline includes antibiotic product candidates that target Gram-positive bacteria, including Clostridioides difficile, methicillin- resistant Staphylococcus aureus (MRSA), vancomycin resistant Enterococcus (VRE), drug- resistant Streptococcus pneumoniae (DRSP) and B. anthracis (anthrax; a Bioterrorism Category A Threat-Level pathogen). Acurx’s lead product candidate, ibezapolstat, for the treatment of C. difficile Infection is Phase 3 ready with plans in progress to begin international clinical trials next year. The Company’s preclinical pipeline includes development of an oral product candidate for treatment of ABSSSI (Acute Bacterial Skin and Skin Structure Infections), upon which a development program for treatment of inhaled anthrax is being planned in parallel.

To learn more about Acurx Pharmaceuticals and its product pipeline, please visit www.acurxpharma.com.

Forward-Looking Statements
Any statements in this press release about our future expectations, plans and prospects, including statements regarding our strategy, future operations, prospects, plans and objectives, and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: whether ibezapolstat will benefit from the QIDP designation; whether ibezapolstat will advance through the clinical trial process on a timely basis; whether the results of the clinical trials of ibezapolstat will warrant the submission of applications for marketing approval, and if so, whether ibezapolstat will receive approval from the FDA or equivalent foreign regulatory agencies where approval is sought; whether, if ibezapolstat obtains approval, it will be successfully distributed and marketed; and other risks and uncertainties described in the Company’s annual report filed with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 2023, and in the Company’s subsequent filings with the Securities and Exchange Commission. Such forward- looking statements speak only as of the date of this press release, and Acurx disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law.

Investor Contact:
Acurx Pharmaceuticals, Inc.
David P. Luci, President & CEO
Tel: 917-533-1469
Email: davidluci@acurxpharma.com

Amcor to present at the Bank of America 2025 Global Agriculture and Materials Conference on February 26, 2025

­ZURICH, Feb. 24, 2025 /PRNewswire/ — Amcor (NYSE: AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions will present at the at the Bank of America 2025 Global Agriculture and Materials Conference on Wednesday February 26, 2025.

Amcor’s CEO Peter Konieczny and CFO Michael Casamento are scheduled to participate in a fireside chat at 1.15pm Eastern time. To listen to the presentation via live webcast please click here.

A replay of the presentation will be available after the presentation ends at www.amcor.com/investors under ‘presentations’.

For further information please contact:

Damon Wright
Vice President Investor Relations
damon.wright@amcor.com

About Amcor 
Amcor is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products.  Amcor works with leading companies around the world to protect products, differentiate brands, and improve supply chains. The Company offers a range of innovative, differentiating flexible and rigid packaging, specialty cartons, closures and services. The company is focused on making packaging that is increasingly recyclable, reusable, lighter weight and made using an increasing amount of recycled content. In fiscal year 2024, 41,000 Amcor people generated $13.6 billion in annual sales from operations that span 212 locations in 40 countries.  NYSE: AMCR; ASX: AMC 

www.amcor.com  I  LinkedIn  I  YouTube 

Important Information for Investors and Shareholders

This communication does not constitute an offer to sell or the solicitation of an offer to buy or exchange any securities or a solicitation of any vote or approval in any jurisdiction.  It does not constitute a prospectus or prospectus equivalent document.  No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

In connection with the proposed transaction between Amcor plc (“Amcor”) and Berry Global Group (“Berry”), on January 13, 2025, Amcor filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4, as amended on January 21, 2025, containing a joint proxy statement of Amcor and Berry that also constitutes a prospectus of Amcor.  The registration statement was declared effective by the SEC on January 23, 2025 and Amcor and Berry commenced mailing the definitive joint proxy statement/prospectus to their respective shareholders on or about January 23, 2025.  INVESTORS AND SECURITY HOLDERS OF AMCOR AND BERRY ARE URGED TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION.  Investors and security holders may obtain free copies of the registration statement and the definitive joint proxy statement/prospectus and other documents filed with the SEC by Amcor or Berry through the website maintained by the SEC at http://www.sec.gov.  Copies of the documents filed with the SEC by Amcor are available free of charge on Amcor’s website at amcor.com under the tab “Investors” and under the heading “Financial Information” and subheading “SEC Filings.”  Copies of the documents filed with the SEC by Berry are available free of charge on Berry’s website at berryglobal.com under the tab “Investors” and under the heading “Financials” and subheading “SEC Filings.”

Certain Information Regarding Participants

Amcor, Berry, and their respective directors and executive officers may be considered participants in the solicitation of proxies from the shareholders of Amcor and Berry in connection with the proposed transaction.  Information about the directors and executive officers of Amcor is set forth in its Annual Report on Form 10-K for the year ended June 30, 2024, which was filed with the SEC on August 16, 2024, its proxy statement for its 2024 annual meeting, which was filed with the SEC on September 24, 2024, and its Current Report on Form 8-K, which was filed with the SEC on January 6, 2025.  Information about the directors and executive officers of Berry is set forth in its Annual Report on Form 10-K for the year ended September 28, 2024, which was filed with the SEC on November 26, 2024, and its proxy statement for its 2025 annual meeting, which was filed with the SEC on January 7, 2025.  Information about the directors and executive officers of Amcor and Berry and other information regarding the potential participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, are contained in the definitive joint proxy statement/prospectus filed with the SEC and other relevant materials filed with or to be filed with the SEC regarding the proposed transaction when they become available.  To the extent holdings of Amcor’s or Berry’s securities by its directors or executive officers have changed since the amounts set forth in the definitive joint proxy statement/prospectus, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Beneficial Ownership on Form 4 filed with the SEC.  You may obtain these documents (when they become available) free of charge through the website maintained by the SEC at http://www.sec.gov and from Amcor’s or Berry’s website as described above.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains certain statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Some of these forward-looking statements can be identified by words like “anticipate,” “approximately,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “possible,” “predict,” “project,” “target,” “seek,” “should,” “will,” or “would,” the negative of these words, other terms of similar meaning or the use of future dates. Such statements, including projections as to the anticipated benefits of the proposed transaction, the impact of the proposed transaction on Amcor’s and Berry’s business and future financial and operating results and prospects, the amount and timing of synergies from the proposed transaction, the terms and scope of the expected financing in connection with the proposed transaction, the aggregate amount of indebtedness of the combined company following the closing of the proposed transaction and the closing date for the proposed transaction, are based on the current estimates, assumptions and projections of the management of Amcor and Berry, and are qualified by the inherent risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties, many of which are beyond Amcor’s and Berry’s control. None of Amcor, Berry or any of their respective directors, executive officers, or advisors, provide any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur, or if any of them do occur, what impact they will have on the business, results of operations or financial condition of Amcor or Berry. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on Amcor’s and Berry’s businesses, the proposed transaction and the ability to successfully complete the proposed transaction and realize its expected benefits. Risks and uncertainties that could cause results to differ from expectations include, but are not limited to, the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the risk that the conditions to the completion of the proposed transaction (including shareholder and regulatory approvals) are not satisfied in a timely manner or at all; the risks arising from the integration of the Amcor and Berry businesses; the risk that the anticipated benefits of the proposed transaction may not be realized when expected or at all; the risk of unexpected costs or expenses resulting from the proposed transaction; the risk of litigation related to the proposed transaction; the risks related to disruption of management’s time from ongoing business operations as a result of the proposed transaction; the risk that the proposed transaction may have an adverse effect on the ability of Amcor and Berry to retain key personnel and customers; and those risks discussed in Amcor’s and Berry’s respective filings with the SEC. Forward looking statements included herein are made only as of the date hereof and neither Amcor nor Berry undertakes any obligation to update any forward-looking statements, or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement.

TOYO Co., Ltd Warrants to Commence Trading on OTC Markets

TOKYO, Feb. 24, 2025 /PRNewswire/ — TOYO Co., Ltd (Nasdaq: TOYO) (“TOYO” or the “Company”), a solar solution company, is pleased to announce that its warrants are now available for trading on the OTCQB under the ticker symbol TOYWF commencing on February 24, 2025.

“We are excited to see TOYO’s warrants begin trading on the OTCQB,” said Mr. Junsei Ryu, CEO and Chairman of TOYO. “This marks an important milestone for the company as we expand our market presence and provide additional liquidity for investors. The trading of our warrants on OTC Markets opens the door to more flexibility and greater access for our shareholders and broader base of investors looking to participate in the Company’s growth trajectory.”

About TOYO Co., Ltd.

TOYO is a solar solutions company that is committed to becoming a full-service solar solutions provider in the global market, integrating the upstream production of wafers and silicon, midstream production of solar cells, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well-positioned to produce high-quality solar cells at a competitive scale and cost.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include but are not limited to, statements regarding the expected growth of TOYO, the expected order delivery of TOYO, TOYO’s construction plan of manufactures, and strategies for building up an integrated value chain in the U.S. These forward-looking statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of TOYO’s management and are not predictions of actual performance.

The forward-looking statements in this press release involve risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to materially differ from those expressed or implied by these forward-looking statements. Although TOYO believes that it has a reasonable basis for each forward-looking statement contained in this press release, TOYO cautions you that these forward-looking statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the documents filed by TOYO from time to time with the Securities and Exchange Commission (the “SEC”). These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements in this press release.

TOYO cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to several risks and uncertainties, including, among others, the outcome of any potential litigation, government or regulatory proceedings, the sales performance of TOYO, and other risks and uncertainties, including but not limited to those included under the heading “Risk Factors” in the filings of TOYO with the SEC. There may be additional risks that TOYO does not presently know or that TOYO currently believes are immaterial that could also cause actual results to differ from those contained in these forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of TOYO as of the date of this press release. Subsequent events and developments may cause those views to change. However, while TOYO may update these forward-looking statements in the future, there is no current intention to do so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements to represent the views of TOYO as of any date subsequent to the date of this press release. Except as required by law, TOYO does not undertake any duty to update these forward-looking statements.

Contact Information:

For TOYO Co., Ltd.
IR@toyo-solar.com 

Crocker Coulson
Email: crocker.coulson@aummedia.or
Tel: (646) 652-7185

Cheche Group’s Tianmu Insurance Anti-Fraud and Risk Control Model Recognized Among Top 100 AI Products of 2024

BEIJING, Feb. 24, 2025 /PRNewswire/ — Cheche Group Inc. (NASDAQ: CCG) (“Cheche” or the “Company”), China’s leading auto insurance technology platform, today announced that its innovative Tianmu Insurance Anti-Fraud and Risk Control Model has been recognized in the prestigious Top 100 AI Products of 2024 list, released by Internet Weekly in collaboration with eNET Research Institute and Deben Consulting.

This accolade highlights Cheche’s commitment to leveraging cutting-edge technology in the insurance industry. The award-winning Tianmu Model integrates advanced technologies such as big data, artificial intelligence, and biometrics to construct an intelligent anti-fraud and risk control system. By utilizing sophisticated data and image recognition methods, the model significantly enhances the ability to identify and prevent insurance fraud risks.

“Being named among the Top 100 AI Products of 2024 is a significant achievement for us,” said Mr. Lei Zhang, Founder, CEO, and Chairman of Cheche. “Our Tianmu Insurance Anti-Fraud and Risk Control Model exemplifies our dedication to revolutionizing the Insurtech landscape. We are focused on driving digital and intelligent innovation that empowers the insurance industry in China to achieve unprecedented levels of efficiency and effectiveness.”

The Tianmu Model employs an AI-based image recognition system that conducts deep analysis of extensive image datasets, evaluating the validity, authenticity, and uniqueness of images. This capability not only mitigates fraudulent risks such as duplicate claims but also adapts to regional market characteristics, tailoring risk management solutions for local insurers.

In practice, the Tianmu Insurance Anti-Fraud and Risk Control Model can accurately identify potential insurance fraud risks, providing robust support for risk reduction to both automakers and insurers. This functionality helps lower operational risks within the insurance industry while contributes to enhancing overall competitiveness.

“As Cheche continues its mission to lead in Insurtech innovation, this recognition reinforces our position as a key player in transforming the insurance landscape through advanced technology,” said Mr. Lei Zhang.

Safe Harbor Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding existing and new partnerships and customer relationships, projections, estimation, and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the Company’s ability to scale and grow its business, the Company’s advantages and expected growth, and its ability to source and retain talent, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management and are not predictions of actual performance. These statements involve risks, uncertainties, and other factors that may cause the Company’s actual results, levels of activity, performance, or achievements to materially differ from those expressed or implied by these forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. The forward-looking statements in this press release represent the views of the Company as of the date of this press release. Subsequent events and developments may cause those views to change. Except as may be required by law, the Company does not undertake any duty to update these forward-looking statements.

About Cheche Group Inc.

Established in 2014 and headquartered in Beijing, China, Cheche is a leading auto insurance technology platform with a nationwide network of around 108 branches licensed to distribute insurance policies across 25 provinces, autonomous regions, and municipalities in China. Capitalizing on its leading position in auto insurance transaction services, Cheche has evolved into a comprehensive, data-driven technology platform that offers a full suite of services and products for digital insurance transactions and insurance SaaS solutions in China. Learn more at https://www.chechegroup.com/en.

About Internet Weekly

Internet Weekly, founded in 1998 and supervised by the Chinese Academy of Sciences, is one of the most successful mainstream business magazines in China’s internet and IT industries. With its in-depth reporting and professional analysis, it provides business leaders and entrepreneurs with cutting-edge development trends and technological innovations. Learn more at http://51www.ciweek.com/.

Cheche Group Inc.:
IR@chechegroup.com

Crocker Coulson
crocker.coulson@aummedia.org
(646) 652-7185