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Justin Sun Explains USDD 2.0 in a Live Stream, Highlights HTX’s Unique Edge

SINGAPORE, Feb. 10, 2025 /PRNewswire/ — On February 5, Justin Sun, Global Advisor of HTX and founder of TRON, joined the leading crypto exchange HTX for an X Spaces session titled “Explore USDD with Justin Sun“. During the session, Sun provided an in-depth explanation of USDD (Decentralized USD) 2.0, the latest version of the USDD stablecoin, and answered audience questions. The session garnered significant interest from the crypto community, with over 12,000 concurrent listeners at its peak.

USDD 2.0: Pegged 1:1 with USD, Backed by Multiple Stability Mechanisms

Launched on January 25, USDD 2.0 is an upgraded decentralized stablecoin on the TRON network.

Sun emphasized that despite the dominance of USDT and USDC, the market still lacks a truly trustless and fully decentralized stablecoin with no censorship and freezing of assets, which is why he championed USDD.

To maintain its 1:1 peg to USD, USDD 2.0 utilizes stability mechanisms, including overcollateralization, a liquidation and auction model, risk management and real-time monitoring, a Peg Stability Module (PSM), and decentralized governance.

The PSM is a critical component. It allows users to quickly swap USDD for other stablecoins at a 1:1 ratio with nearly zero gas fees. This significantly reduces arbitrage risks and promotes price stability, even during market fluctuations.

USDD’s overcollateralization model further enhances its stability and minimizes risks. To mint USDD, users must provide collateral assets like TRX or USDT. Due to TRX’s strong market liquidity and ecosystem support, and USDT’s established stability, the value of the collateral consistently exceeds that of the minted USDD.

As of 8:30 AM UTC on February 6, the total collateral backing USDD was nearly $130 million, representing an overcollateralization ratio of 1.23x.

Sun summarized, “If you are unsure about USDD, just think of it as a mirrored proxy of USDT.”

20% APY on USDD Staking—Backed by Decentralization

Sun emphasized that USDD can be swapped 1:1 for USDT at any time, with no limit, making it as easy to use as USDT on TRON—but with the potential for higher returns.

Currently, Tier T1 of USDD staking offers a 20% APY, fully subsidized by TRON DAO. HTX Earn also offers a limited-time 20% APY bonus for its USDD Flexible product. Since the bonus was introduced, subscribed assets for the product increased nearly tenfold. Users can stake USDD on HTX or JustLend DAO and enjoy a guaranteed 20% yield. Users can also borrow USDD using their USDT holdings and then stake the borrowed USDD for additional potential returns. (Disclaimer: This is not an investment advice.)

According to official data, $1,380,822 USDD tokens have been deposited to the LendSave Vault contract (TDrc3zH9wWufmQJyS7QLxBYH8GS27drW5N).


Addressing community concerns about the security and sustainability of the 20% yield, Sun stated, “Consider the value proposition of a decentralized stablecoin on TRON. There’s $60 billion worth of USDT on TRON. If you believe in a truly decentralized alternative, you understand USDD’s potential value.”

Regarding use cases, Sun explained that USDD is designed to support the functionalities that USDT cannot fully provide on the TRON network. He also announced upcoming partnerships with centralized exchanges. HTX and Poloniex may soon support USDD used as margin in futures trading, and integrates USDD into one-click USDD swaps, and USDD-powered SmartEarn. Discussions are also underway with other crypto institutions regarding further USDD integration.

HTX’s Growth: $HTX Set to Be Listed on Major Regulated Exchange

Sun also announced that $HTX will soon be listed on a major regulated exchange. Efforts are underway to further enhance its utility, giving it a competitive advantage over other centralized exchanges.

He reaffirmed that HTX’s listing strategy focuses on identifying promising projects, with all new token listings based on independent research, and also speed. HTX’s agility has allowed it to stay ahead of the curve in the crypto market over the past two years. Looking ahead, HTX will focus on the AI sector, with potential AI-driven projects in development.

About HTX

Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.

Contact Details

Ruder Finn Asia
htx@ruderfinn.com 

Company Website
https://www.htx.com

Lithium Africa Resources Corp. Announces $6M Equity Financing and Intention to Complete a Listing on a Canadian Stock Exchange

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

LISBON, Portugal, Feb. 10, 2025 /PRNewswire/ — Lithium Africa Resources Corp. (“Lithium Africa” or the “Company“) is pleased to announce that it engaged 3L Capital Inc. (the “Lead Agent“) to act as the lead agent and sole bookrunner on behalf of a syndicate of agents (together with the Lead Agent, the “Agents“) in connection with a best efforts private placement offering (the “Brokered Offering“) of units of the Company (“Units“) for aggregate gross proceeds of up to $6,000,000.

Concurrently with the Brokered Offering, the Company will be completing a non-brokered private placement (the “NBPP“, and together with the Brokered Offering, the “Offering“) of Units on the same terms as the Brokered Offering. The Company anticipates that its largest shareholder, GFL International Co. Ltd (a subsidiary of Ganfeng Lithium) will subscribe for Units in the NBPP to maintain its 19% shareholding in the Company.

As part of the Offering, the Company will undertake to use its commercially reasonable best efforts to list the Class A common shares in the capital of the Company (a “Common Share“) for trading on a recognized stock exchange in Canada (the “Trigger Event“) on or before the date which is six (6) months following the Closing Date (the “Trigger Date“).

Each Unit in the Offering will be comprised of: (i) one (1) Common Share; (ii) one (1) Common Share purchase warrant of the Company (a “Warrant“); and (iii) one (1) special warrant of the Company (a “Special Warrant“).

Each Warrant will entitle the holder thereof to acquire one (1) Common Share (a “Warrant Share“) at a 30% premium to the price at which Units are sold under the Offering (the “Issue Price“) for a period of five (5) years following the Closing Date.

Each Special Warrant will entitle the holder thereof to receive, without payment of any further consideration and without further action on the part of the holder, and subject to customary adjustment provisions, 0.15 additional Common Shares (the “Penalty Shares“). The Special Warrants shall be automatically exercised, with no further action on the part of the holder (and for no additional consideration), on the first business day immediately following the Trigger Date. In the event the Trigger Event is completed on or before 5:00 p.m. (ET) on the Trigger Date, the Special Warrants will expire, and the Penalty Shares will not be issued.

The Company has granted the Agents the option to offer for sale up to an additional 15% in Units (the “Over-Allotment Option“), exercisable in whole or in part, at any time until 48 hours prior to the Closing Date.

In connection with the Brokered Offering, the Company has agreed to pay the Agents a fee comprising: (i) a cash fee equal to 7.0% of the gross proceeds raised from the sale of Units pursuant to the Brokered Offering (including Units issued upon exercise of the Over-Allotment Option); and (ii) such number of compensation options (the “Compensation Options“) as is equal to 7.0% of the total number of Units issued pursuant to the Brokered Offering (including Units issued upon exercise of the Over-Allotment Option). Each Compensation Option shall entitle the holder thereof to purchase one Unit at a price equal to the price at which Units were sold under the Offering for a period of three (3) years following the Closing Date.

It is currently anticipated that the proceeds of the Offering will be used for ongoing exploration and development of the Company’s portfolio of assets; evaluation and acquisition of additional prospective projects; preparation for a public listing on the recognized stock exchange in Canada during H2/2025; and ongoing corporate working capital and investor relations costs.

The Offering is scheduled to close on or around 31 March 2025, or on such other date as agreed upon with the Company and the Lead Agent (the “Closing Date“). Closing of the Offering is subject to the receipt of all necessary approvals.

The Company is not a reporting issuer in any province or territory in Canada and its securities are not listed on any stock exchange in Canada and there is currently no public market for its securities to be resold. As such, the Units (and the securities comprising thereof) will not be transferable under the laws of Canada, except pursuant to applicable statutory exemptions, until the date that is four months and a day after the date the Company becomes a reporting issuer in any province or territory of Canada (subject to any control person distribution restrictions) in accordance with National Instrument 45-102 – Resale of Securities

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Lithium Africa

Lithium Africa has consolidated a portfolio of hardrock pegmatite districts across five prospective regions covering over 2,500 kmof exploration assets in Morocco, Ivory Coast, Guinea, Mali and Zimbabwe. The Company has established a 50/50 joint venture partnership with Ganfeng Lithium to jointly advance exploration in Africa (the “LAR-GFL JV“).

This investment model combines Lithium Africa’s world-class geological team, it’s network of African relationships with Ganfeng’s expertise in the lithium sector and its access to capital. The shared goal of the LAR-GFL JV is to unlock Africa’s untapped but immense geological potential together to deliver high quality spodumene in a sustainable manner into the next lithium cycle.

For further information:

Visit our website – www.li-africa.com
Connect via LinkedIn – www.linkedin.com/company/lithium-africa/

ON BEHALF OF THE BOARD

 “Tyron Breytenbach

Tyron Breytenbach

CEO, Lithium Africa Resources Corp.

Forward Looking Statements

Certain of the statements and information in this news release constitute “forward-looking statements” or “forward-looking information.” Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “believes”, “plans”, “estimates”, “intends”, “targets”, “goals”, “forecasts”, “objectives”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are not statements of historical fact may be forward-looking statements or information. Forward-looking statements in this news release include, without limitation, statements relating to the Offering on the terms contemplated herein or at all, the anticipated use of proceeds from the Offering, the completion of the Trigger Event, and the Agents’ exercise of the Over-Allotment Option.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company’s properties; the effect of changes in commodity prices; regulatory risks that development of the Company’s material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.

RRD China Secures Double Honors at the 14th China Philanthropy Festival and ESG Summit

BEIJING, Feb. 10, 2025 /PRNewswire/ — A news report from SYOBSERVE: The 14th China Philanthropy Festival and ESG Summit successfully wrapped up on January 10th in Beijing. RRD China earned the “ESG Model Enterprise” award and “Public Welfare Case of the Year” for its outstanding performance in environmental, social and governance practices.

Ye Yi, President of RRD APAC, shared valuable perspectives during an interview. She elaborated on the company’s strategic initiatives and achievements in the ESG realm, demonstrating how RRD China balances sustainability and business growth.

Sustainable Management: From Vision to Action

Ms. Ye said in the interview, “Sustainability is not about short-term gains but about creating long-term values. For thirty years, RRD has embedded the principles of environmental protection and sustainability into its corporate strategy in China. From product design to production, the company is committed to creating a green ecological loop through material certification, energy conservation, emission reduction, renewable energy use, and waste management.”

In 2023, RRD China achieved a 44% reduction of manufacturing combined Scope 1 and 2 greenhouse gas emissions, using 2022 as a baseline, and has pledged a 25% reduction globally over the next decade. Notably, 70% of our Chinese facilities operate on 100% renewable energy, with nearly one-third earning the “UL Zero Waste Land Fill” Platinum certification.

People-Centric Approach: Commitment to Employees and Society

“People-oriented” is a fundamental value at RRD. Ms. Ye underscored the company’s commitment to employee health and safety, offering a comprehensive protection system that includes upgraded infrastructure, psychological support, and regular inspections. The company supports employee career development through academic-industry partnerships, nationwide campus recruitment, and a series of training programs. Women comprise 44% of the workforce and over 45% of management, highlighting the dedication to diversity.

In its commitment to social responsibility, RRD’s community engagement team, established in 2013, has led initiatives in education support, environmental stewardship, and poverty alleviation. Its “Just Cleanup!” environmental campaign won “Public Welfare Case of the Year” at the conference.

Green Supply Chain: Balancing Ecology and Resilience

“At RRD, we view a sustainable supply chain as both a commitment to environmental stewardship and a cornerstone of our competitive edge,” stated Ms. Ye. We have established a responsible supply chain that spans the gamut from raw materials to finished products by implementing a strict supplier code of conduct and by utilizing renewable, biodegradable materials in conjunction with efficient processes. Additionally, we are committed to enhancing diversity and inclusion throughout our supply chain by partnering with a broad range of small and medium-sized businesses, supporting their development, and contributing to the overall resilience of our supply operations.

Innovation-Driven Growth: A Win-Win for the Environment and Business

We celebrate RRD’s 160th anniversary in 2024. As we reflect on RRD’s history, innovation kept continuous growth and evolving. The company has established multiple R&D centers dedicated to developing eco-friendly materials and technologies. Its innovative products such as Roligh® degradable materials and FO2 pure vegetable oil inks significantly reduce environmental impact while offering diverse options for customers.

Ms. Ye noted, “Through innovation, we aim to make green development a driver of sustainable growth.” By employing lightweight packaging and low-consumption processes, the company has reduced material use while enhancing product performance, earning accolades in numerous domestic and international competitions.

Looking Ahead: Embracing Responsibility and Collaboration

At the conclusion of the interview, Ms. Ye remarked: “Sustainability is a long-term mission that demands the united efforts of businesses, society, and consumers alike.” RRD remains committed to advancing its philosophy of green innovation and working collaboratively with partners to steer the industry toward a more sustainable and eco-friendly future.

NYSE CONTENT ADVISORY: PRE-MARKET UPDATE FOR FEBRUARY 10th

NEW YORK, Feb. 10, 2025 /PRNewswire/ — The New York Stock Exchange (NYSE) is proud to offer a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins. 

 

NYSE CONTENT ADVISORY: PRE-MARKET UPDATE FOR FEBRUARY 10th

Trinity Chavez delivers the pre-market update on February 10th

  • Inflation data takes center stage
  • Markets anticipate consumer price and retail sales data
  • Coca-Cola, Shopify, and CVS set to report earnings

Watch NYSE TV Live every weekday 9:00-10:00am ET 

Video – https://mma.prnasia.com/media2/2616557/NYSE_Feb_10_2025_Market_Update.mp4

 

MDP+, Strengthens Presence in the U.S. Market with Successful Beauty Expo in Miami

  • Top products, including the Red Lacto Collagen Wrapping Mask, showcased under the export-exclusive brand “MDP+”
  • Embarked on a full-scale push into the North American market with the next-generation Young Cica line at the forefront

SEOUL, South Korea, Feb. 10, 2025 /PRNewswire/ — MDP+, a global dermocosmetic brand, further strengthened its foothold in the U.S. market with a successful showcase at the 2025 COSMOPROF North America MIAMI, the largest beauty expo in North America. Held from Jan 21 (Tue) to 23 (Thu) at the Miami Beach Convention Center, the global B2B event brought together beauty companies eager to expand into the North American and Latin American markets. Among them, MDP+ distinguished itself with its innovative skincare products and advanced technology, captivating buyers worldwide.

Flagship products were presented under “MDP+,” MEDIPEEL’s export-exclusive brand, with a focus on expanding into the American market, forging new business partnerships, and increasing global brand visibility. Global bestsellers such as “Red Lacto Collagen Wrapping Mask,” “Melanon X Cream,” and “Peptide 9 Bio Sun Stick Pro” attracted notable interest, leading to multiple B2B consultations and new collaborations.

Unveiled for the first time at the event, the “Young Cica” line—a next-generation skincare collection powered by MDP+’s latest technology—drew significant attention from buyers. “Developed to address the specific needs of North American consumers, the Young Cica line is set to be a key driver in our expansion into the North American market,” explained a representative from MDP+.

MDP+ has been solidifying K-beauty’s standing in the North American market, following record-breaking beauty category sales on the U.S. TikTok Shop last year. The innovative “Red Lacto Collagen Wrapping Mask” has been a consistent favorite, offering deep hydration and nourishment with its low-molecular-weight collagen, small enough to penetrate pores, for a smooth, supple finish. “Melanon X Cream” provides both brightening and skin barrier support, helping to improve dull complexion and promote lasting skin health, earning high satisfaction from consumers worldwide.

“This year’s COSMOPROF North America MIAMI marked a significant milestone in our leap into the global market. Backed by innovative technology and standout products, we are committed to establishing ourselves as a globally beloved brand,” the representative added.

COSMOPROF North America MIAMI, a major B2B platform, offers essential networking opportunities for companies targeting the North American and Latin American markets. MDP+’s participation concluded successfully, reinforcing its status as a global brand and securing fresh business opportunities.

MEDIPEEL is the flagship brand of SKINIDEA, which is under MDP Holdings (CEO Michael Chung), a portfolio company of Morgan Stanley PE Asia (MSPEA). SKINIDEA is recognized for its innovative products integrating premium ingredients and patented dermatological technology. Exporting to over 75 countries worldwide, SKINIDEA develops high-performance skincare solutions through comprehensive research and clinical trials, ensuring both instant and long-lasting improvements tailored to various skin types.

Beatbot Announces Official Partnership with the U.S. SailGP Team on the Launch Day of the AquaSense 2 Series

Global Leader in Robotic Pool Cleaning Pushes the Boundaries of Performance and Technology with New Collaboration and Product Offerings

RICHMOND, Texas, Feb. 10, 2025 /PRNewswire/ — Beatbot, the brand behind the world’s most innovative robotic pool cleaners, announced today its official partnership with the U.S. SailGP team. This unique collaboration unites two innovators committed to aquatic excellence, advancing cutting-edge technology and raising the bar for best-in-class competition. Beatbot also launched the official sale of its latest line of innovative pool cleaning robots, the AquaSense 2 Series. 

Beatbot Announces Official Partnership with the U.S. SailGP Team on the Launch Day of the AquaSense 2 Series
Beatbot Announces Official Partnership with the U.S. SailGP Team on the Launch Day of the AquaSense 2 Series

A Shared Vision of Innovation and Excellence

SailGP is a global sailing league showcasing races in the world’s most renowned cities. The partnership between Beatbot and the U.S. SailGP team is underscored by a shared commitment to pushing boundaries and delivering excellence. Both teams amplify innovation in their respective fields and together champion advanced technology and peak performance.

“We constantly encourage our athletes and team members to be innovative and think outside the box, which is why our team is proud to partner with Beatbot, a brand that embodies this same mindset,” said Kyle Whittingham, Vice President of Marketing and Content at U.S. SailGP. “One of the reasons we’re so thrilled about this partnership is how perfectly Beatbot aligns with our values and our commitment to excellence, always striving for something greater, and our shared passion for sustainability. Beatbot is pioneering products that coincide with our ethos breaking barriers and finding ways to connect and deliver remarkable experiences for users and fans alike.” 

“At Beatbot, we strive for the unbeatable by constantly pushing the boundaries of innovation and performance,” said York Guo, CMO of Beatbot. “Partnering with the U.S. SailGP Team embodies our relentless pursuit of excellence and our commitment to redefining standards while being mindful of our environmental impact. The AquaSense 2 Series is a testament to our dedication to delivering groundbreaking technology that enhances both functionality and user experience.”

Beatbot’s AquaSense 2 Series Leads Pool Cleaning Innovation

The AquaSense 2 Series lineup introduces three exceptional models: the AquaSense 2, AquaSense 2 Pro, and AquaSense 2 Ultra. Designed to revolutionize pool cleaning, the AquaSense 2 Series has undergone extensive testing and boasts the industry’s top-performing achievements, including a comprehensive 3-year warranty, providing peace of mind with long-term reliability. Each model is engineered to ensure exceptional durability and performance, backed by Beatbot’s commitment to quality and customer satisfaction.

The AquaSense 2 Series introduces the most pivotal milestones in the pool cleaning industry, including: 

  • Intelligent navigation, powered by AI, optimizes cleaning paths for full coverage, reducing missed spots in a cleaning process. 
  • Simplified user experience, from app connectivity in the Pro and Ultra to surface packing and SmartDrain™ water-release technology.
  • Heightened suction and traction power, capable of handling diverse pool textures and layouts without missing debris in hard-to-reach areas. 
  • Over 200 rounds of rigorous evaluation, including enhanced packaging tests, drop tests, and stress tests for more than 5,000 durability cycles. 

The line’s most innovative model, AquaSense 2 Ultra, features HybridSense™ Pool Mapping with AI Camera, which elevates exceptional pool cleaning through precise mapping and optimal cleaning in pools of various shapes and configurations. Featuring industry-first 5-in-1 cleaning capabilities, the robot also delivers comprehensive cleaning by covering all areas—floor, walls, waterline, water surface and even purifies water itself. Proven durable through extensive functionality testing in differently configured pools, it guarantees exceptional performance and long-lasting reliability. 

Open Sales Details

Customers can purchase The AquaSense 2 Ultra (MSRP: $3,450), The AquaSense 2 Pro (MSRP: $2,499), and the AquaSense 2 (MSRP: $1,499) on February 10, 2025. Early buyers can receive up to 30% OFF for a limited time. Experience the luxurious power behind Beatbot’s innovative line of pool-cleaning robots on Beatbot’s official website and Amazon store.  

About Beatbot

Beatbot is a technology brand redefining smart pool care and is dedicated to the global robotization of swimming pool environments. Founded by industry experts with over 10 years of experience in leading home robotics companies, the company is growing rapidly, with offices in multiple countries and a strong R&D team, taking up 70% of the workforce. Pioneering core technologies like brushless water pumps, AUV spatial locomotion, sonar laser SLAM, and space mapping navigation algorithms, Beatbot has secured numerous patents and pioneered industry-first innovations. The company currently holds over 216 patents (granted and under application), including 124 patents for inventions.

Beatbot Announces Official Partnership with the U.S. SailGP Team
Beatbot Announces Official Partnership with the U.S. SailGP Team

SunCar Technology Group Integrates DeepSeek AI, Revolutionizing Automotive Service Intelligence

NEW YORK, Feb. 10, 2025 /PRNewswire/ — SunCar Technology Group Inc. (“SunCar” or the “Company”) (Nasdaq: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, today announced the full integration of DeepSeek artificial intelligence technology into its proprietary cloud-based service platform and car insurance SaaS solutions. This strategic implementation marks a significant advancement in the Company’s AI-driven strategy and initiatives revolutionizing the automotive service industry through enhanced intelligence and efficiency.

The integration of DeepSeek’s AI capabilities transforms traditional automotive services by introducing powerful intelligent analytics and personalized solutions. In the car insurance sector, DeepSeek’s algorithms help SunCar analyze SunCar’s vast amounts of vehicle and insurance data to provide precise risk profiling and tailored insurance recommendations to SunCar’s end customers, significantly improving the efficiency and accuracy of insurance package matching.

“This integration represents a transformative step in our commitment to technological innovation and service excellence,” stated Ye Zaichang, Chairman and CEO of SunCar. “By leveraging DeepSeek’s powerful general intelligence and reasoning capabilities, we are not just improving our services – we are reimagining the entire automotive service experience while significantly reducing operational costs for us, our enterprise clients, and our end customers.”

The implementation of DeepSeek across SunCar’s platforms delivers several key advantages:

  • Enhanced insurance recommendation precision through advanced risk profiling and customer need analysis
  • Improved scheduling efficiency of automotive services with real-time monitoring and maintenance alerts
  • Sophisticated user behavior analysis enabling highly personalized service delivery
  • Cost-effective AI implementation through its proprietary cloud-based service platform
  • Robust data security measures ensuring enterprise-grade protection

“Looking ahead, we plan to continue to expand our AI initiatives, with a particular focus on the electric vehicle market, which is the fastest growing segment for auto-sales in China. We expect to facilitate car owners’ transition from traditional to electric vehicles, including generating AI-driven incremental revenue through targeted promotions and customized insurance and auto-service solutions. We expect this will further SunCar’s position as a valuable partner for electric vehicle manufacturers, and strengthen its role in the industry’s digital transformation,” concluded Mr. Ye.

About SunCar Technology Group Inc.

Founded in 2007, SunCar is transforming the customer journey for auto services and auto insurance in China, the largest passenger vehicle market in the world. SunCar develops and operates cloud-based platforms that seamlessly connect drivers with a wide range of auto services and insurance coverage options through a nationwide network of sales partners. As a result, SunCar has established itself as the leader in China in the B2B auto services market and the auto eInsurance market for electric vehicles. The Company’s intelligent cloud platform empowers its enterprise clients to access and manage their customer database and offerings optimally, and drivers gain access to hundreds of services from tens of thousands of independent providers in a single application. For more information, please visit: https://suncartech.com.

Forward-Looking Statements

This press release contains information about the Company’s view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company encourages you to review other factors that may affect its future results in the Company’s annual reports and in its other filings with the Securities and Exchange Commission.

Contact Information:

SunCar:
Investor Relations: Ms. Hui Jiang
Email: IR@suncartech.com
Legal: Ms. Li Chen
Email: chenli@suncartech.com

U.S. Investor Relations
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com

Gorilla Technology Closes ATM Programme, Reinforcing Commitment to Shareholder Value


London, United Kingdom – Newsfile Corp. – February 10, 2025 – Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”) today announces the formal closure of its At-The-Market (ATM) programme, reaffirming its unwavering commitment to protecting shareholder value and ensuring no further dilution.

Following its bold share buyback initiative, Gorilla continues to prioritise shareholder interests by eliminating any potential market concerns about stock dilution. This strategic move underscores the company’s confidence in its financial strength, revenue visibility and long-term growth trajectory.

Jay Chandan, Chairman & CEO of Gorilla Technology, stated: “We made a commitment to our shareholders that we would not dilute and we are standing by that promise. By closing our ATM programme, we are ensuring that shareholder value remains protected while reinforcing our position as a disciplined and strategic company. Our focus remains on strong execution, revenue expansion and delivering long-term value to our investors.”

About Gorilla Technology Group Inc.

Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.

Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.

For more information, please visit our website: Gorilla-Technology.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Gorilla’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about our ability to execute definitive agreements related to this smart education project, attract the attention of customers and win additional projects, along with those other risks described under the heading “Risk Factors” in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the “SEC”) on May 15, 2024 and those that are included in any of Gorilla’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Investor Relations Contact:
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com

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