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SINEXCEL Launches ‘Energy for All’ ESG Initiative to Drive Global Energy Equity & Inclusion

SHENZHEN, China, March 28, 2025 /PRNewswire/ — SINEXCEL (300693.SZ), a global pioneer in modular energy storage, EV charging and power quality solutions, has officially launched its ESG strategic initiative, ‘Energy for All,’ aimed at advancing global energy equity and inclusion. Rooted in the company’s core values of Sincerity, Integrity, and Long-termism, this initiative underscores SINEXCEL’s commitment to breaking energy barriers and expanding access to clean power, paving the way for global energy freedom.

SINEXCEL Launches 'Energy for All' ESG Initiative to Drive Global Energy Equity & Inclusion
SINEXCEL Launches ‘Energy for All’ ESG Initiative to Drive Global Energy Equity & Inclusion

Building an Inclusive Ecosystem for Energy Equity & Inclusion

  • Empowering Education: SINEXCEL partners with universities to offer internships and collaborate on energy technology research, fostering the next generation of energy innovators.
  • Driving Environmental Sustainability: Committed to environmental protection, SINEXCEL develops energy solutions within its low-carbon factories, integrating green practices into its operations.
  • Bridging the Energy Gap: Deploying energy solutions in underserved regions—from off-grid villages in Myanmar to communities in Malawi—SINEXCEL ensures reliable electricity access while supporting local development.
  • Advancing Healthcare Through Technology: Leveraging innovation, SINEXCEL supports healthcare initiatives that safeguard lives and enhance overall well-being.

Expanding Global Sustainability Impact
Guided by its core values, SINEXCEL is extending its sustainability impact worldwide by scaling up local projects and forming strategic alliances with global institutions. The company aims to deepen its partnerships with leading academic institutions and international organizations to create a more inclusive energy landscape.

Empowering Energy Freedom
Energy freedom signifies equal access to clean energy. Through scalable and replicable ESG initiatives, SINEXCEL is removing barriers to clean energy access and redefining social responsibility, empowering inclusive, accessible, and sustainable energy for all.

Explore our sustainability efforts here: https://en.sinexcel.com/about/sustainability.php

About SINEXCEL
Founded in 2007, SINEXCEL is a leading pioneer of energy storage, EV charging and power quality solutions, backed by nearly two decades of expertise in power electronics. With 12 GW of installed storage, 140,000 EV chargers and nearly 20 million amperes of AHF deployed, SINEXCEL partners with industry leaders like EVE Energy and Schneider Electric to empower energy freedom.

Media Contact
Melody Yu, Marketing Manager
melody_yu@sinexcel.com 

NYSE Content advisory: Pre-market update + The Ronald Reagan Foundation and Institute rings the Opening Bell

NEW YORK, March 28, 2025 /PRNewswire/ — The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins. 

 

Pre-market update + The Ronald Reagan Foundation and Institute rings the Opening Bell

Kristen Scholer delivers the pre-market update on March 28th

  • As of Thursday’s close, Wall Street was heading for its second straight week of gains. The Dow Jones Industrial Average was pacing for a 0.8 percent rise on the week.
  • Economists predict that the Personal Consumption Expenditures Index increased by 0.3 percent in February from January, and by 2.5 percent last month compared to the same period a year ago.
  • The Ronald Reagan Presidential Foundation and Institute is ringing the Opening Bell to commemorate the fortieth anniversary of Reagan’s historic visit to the NYSE, making him the only sitting U.S. President to do so.

Learn more about NYSE History + Reagan’s historic visit here

Video – https://mma.prnasia.com/media2/2652740/NYSE_Market_Update_March_28_2025.mp4

 

 

 

Keep Inc. Announces 2024 Annual Results

BEIJING, March 28, 2025 /PRNewswire/ — Keep Inc. (“Keep” or the “Company”), the largest online fitness platform in China, today announced its audited annual results for the year ended December 31, 2024.

Full Year 2024 Financial Highlights

  • Total revenues were RMB 2,065.7 million in 2024. Specifically, self-branded fitness products increased in 2024 in terms of both revenue scale and profitability, mainly driving by fitness gears and apparel categories, which increased by 16.0% year-over-year.
  • Gross profit was RMB965.4 million in 2024, gross profit margin was 46.7% in 2024, a 1.7 percentage point increase from 45.0% in 2023.
  • Adjusted net loss (non-IFRS measure) was RMB469.6 million.

Full Year 2024 Operational Highlights

Year ended December 31,

2024

2023

Average monthly active users (“MAU(s)“) (in thousands)

29,921

29,756

Average monthly revenues per MAU (in RMB)

5.8

6.0

Average monthly subscribing members (in thousands)

3,162

3,193

Membership penetration rate

10.6 %

10.7 %

Mr. Wang Ning, Chief Executive Officer of Keep Inc., commented, “As we move into 2024, while China’s recovery progressed, we were encouraged by the growing popularity of sports and fitness, partly driven by the Summer Olympic Games. We refreshed our mission to ‘Fuel every workout, keep the neighborhood energetic,’ and dynamically adapted our strategy, leading to a comprehensive enhancement and transformation of the Keep brand and platform throughout 2024. We are generally pleased with the consistent internal responsiveness, focus, and execution as we have made to adapt to this momentum and making progress in key areas, including expanding online fitness ecosystem, embracing AI technology, and driving scale and profitability in our self-branded fitness products. While these initiatives require efforts and will temporarily impact our near-term profitability, they are critical in building our first-mover advantage and solidifying our long-term core competitiveness. We are confident in our ability to deliver sustainable operational improvements while exploring innovative opportunities to differentiate ourselves.

In 2024, we successfully executed a series of operational optimizations while maintaining solid business fundamentals. Looking forward to 2025, Keep is positioned to capitalize on the opportunities presented by data analytics and generative AI, leveraging our first-mover advantage in the sports technology sphere, navigating us to transform from a content-driven to a data-driven ecosystem, further optimize operational robustness, and deliver sustaining value for our shareholders.”

2024 Annual Financial Results

Revenues

Total revenues were RMB2,065.7 million for the year ended December 31, 2024, representing a 3.4% decrease from RMB2,137.8 million for the year ended December 31, 2023, primarily due to a decrease in revenues from online membership and paid content service.

Revenues from self-branded fitness products were RMB953.9 million for the year ended December 31, 2024, representing a 0.8% increase from RMB946.1 million for the year ended December 31, 2023. The increase was mainly attributable to the increase in sales of complementary fitness products.

Revenues from online membership and paid content were RMB917.8 million for the year ended December 31, 2024, representing a 7.8% decrease from RMB995.8 million for the year ended December 31, 2023, mainly attributable to a decrease in revenues generated from our online sports events, partially offset by an increase in revenues generated from our online membership subscription.

Revenues from advertising and others were RMB193.9 million for the year ended December 31, 2024, representing a 1.0% decrease from RMB196.0 million for the year ended December 31, 2023, which was relatively stable year-on-year.

Cost of revenues

Cost of revenues was RMB1,100.3 million for the year ended December 31, 2024, representing a 6.5% decrease from RMB1,176.2 million for the year ended December 31, 2023, which has decreased more than the slight decline in our revenues during the same year, primarily due to the success of our cost containment.

Cost of self-branded fitness products was RMB651.5 million for the year ended December 31, 2024, representing a 4.7% decrease from RMB683.9 million for the year ended December 31, 2023, mainly attributable to the decrease of cost of inventories sold due to the optimized product mix and the economies of scale of our self-branded fitness products.

Cost of online membership and paid content was RMB327.3 million for the year ended December 31, 2024, representing a 11.6% decrease from RMB370.1 million for the year ended December 31, 2023, mainly attributable to the decrease of (i) RMB15.8 million in cost of online sports events in corresponding with the decrease in revenue of online sports events; (ii) RMB4.8 million in content related cost as we optimized our IP cost associated with our partnership with third party influencers; and (iii) RMB4.4 million in personnel costs (including related share-based compensation expenses).

Cost of advertising and others was RMB121.5 million for the year ended December 31, 2024, representing a 0.6% decrease from RMB122.2 million for the year ended December 31, 2023 in corresponding with related revenues.

Gross profit and gross profit margin

Gross profit was RMB965.4 million for the year ended December 31, 2024, representing a 0.4% increase from RMB961.6 million for the year ended December 31, 2023.

Gross profit margin was 46.7% for the year ended December 31, 2024, representing a 1.7 percentage point increase from 45.0% for the year ended December 31, 2023, mainly attributable to the optimized gross profit margin of self-branded fitness products and online membership and paid content.

Gross profit from self-branded fitness products increased by 15.3% from RMB262.2 million for the year ended December 31, 2023 to RMB302.4 million for the year ended December 31, 2024, mainly attributable to the increased sales of complementary fitness products and the decrease of cost of inventories sold.

Gross profit from online membership and paid content decreased by 5.6% from RMB625.7 million for the year ended December 31, 2023 to RMB590.5 million for the year ended December 31, 2024, mainly attributable to the decrease of revenues generated from our online sports events, partially offset by the decrease of cost of online membership.

Gross profit from advertising and others decreased by 1.8% from RMB73.8 million for the year ended December 31, 2023 to RMB72.4 million for the year ended December 31, 2024, primarily due to the increase in costs associated with integrated online-to-offline advertising campaigns.

Fulfillment expenses

Fulfillment expenses were RMB122.6 million for the year ended December 31, 2024, representing a 21.2% decrease from RMB155.7 million for the year ended December 31, 2023, primarily due to the optimized warehousing, packaging and delivery expenses.

Selling and marketing expenses

Selling and marketing expenses were RMB757.9 million for the year ended December 31, 2024, representing a 33.1% increase from RMB569.3 million for the year ended December 31, 2023. The increase was primarily due to an increase of RMB170.9 million in promotion and advertising expenses, as we introduced more sports-themed marketing and brand-building activities.

Administrative expenses

Administrative expenses were RMB233.2 million for the year ended December 31, 2024, representing a 11.4% increase from RMB209.3 million for the year ended December 31, 2023, primarily attributable to an increase of RMB18.4 million in administrative personnel costs. The increase in administrative personnel costs was primarily due to the increase in share-based compensation expenses.

Research and development expenses

Research and development expenses were RMB439.0 million for the year ended December 31, 2024, representing a 2.4% decrease from RMB449.7 million for the year ended December 31, 2023, primarily attributable to the decreases of: (i) RMB17.3 million in research and development personnel costs (including related share-based compensation expenses); and (ii) RMB6.6 million in cloud computing service fees as we optimized the related expenses; partially offset by an increase of RMB12.7 million in outsourcing research and development costs for smart fitness devices innovation. 

Fair value changes of convertible redeemable preferred shares

Fair value changes of convertible redeemable preferred shares were nil for the year ended December 31, 2024, compared with RMB1.4 billion for the year ended December 31, 2023. The fair value changes of convertible redeemable preferred shares before the Listing were primarily attributable to changes in the valuation of the Company. The Company did not record any further fair value changes of the convertible redeemable preferred shares following the Listing as preferred shares liabilities were redesignated and reclassified from liabilities to equity after automatically converting into ordinary shares upon the Listing.

(Loss)/profit  for the year

Loss for the year ended December 31, 2024 was RMB534.7 million, compared with a profit of RMB1.1 billion for the year ended December 31, 2023, primarily attributable to the fair value changes of convertible redeemable preferred shares of nil for the year ended December 31, 2024, compared with RMB1.4 billion for the year ended December 31 2023.

Adjusted net loss (non-IFRS measures)

Adjusted net loss (non-IFRS measures) was RMB469.6 million and RMB295.4 million for the years ended December 31, 2024 and 2023, respectively.

Cash Balance

The cash balance was RMB1.2 billion as of December 31, 2024. The cash balance includes cash and cash equivalents, short-term time deposits, restricted bank deposits and short-term investments. The Company maintains a healthy liquidity position and remains confident in the disciplined capital allocation approach, which enables the execution of the Company’s long-term strategic initiatives.

Share repurchase programs

The Company repurchased a total of 11,538,500 shares of the Company on the Stock Exchange at the aggregate consideration of HK$74.3 million before expenses.

Conference Call

The Company’s management will host an earnings conference call at 8:00 p.m. Beijing Time on March 28, 2025.

Participants who wish to join the call should follow the following method:

  1. Please click on the call link and complete the online registration form. Kindly register at least one working day before the event. 
    https://register-conf.media-server.com/register/BI54b42ba49a8645a2aacb9677f3eaaf15
  2. Upon registering you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details.
  3. Select a method for joining the call
    1. Dial-In: A dial in number and unique PIN are displayed to connect directly from your phone.
    2. Call Me: Enter your phone number and click “Call Me” for an immediate callback from the system. The call will come from a US number, and this function is only applicable for participants outside China.
  4. Please dial in 15 minutes before the call is scheduled to begin and provide the personal PIN to join the call.

Additionally, a live and archived webcast of the conference call will be available at https://ir.keep.com/en/news_events.php.

About Keep Inc.

Keep Inc. (HKEX Stock Code: 3650) is the largest online fitness platform in China in terms of MAUs and number of workout sessions completed by users in 2022, according to CIC. Keep offers a comprehensive fitness solution to help users achieve their fitness goals. On the Keep platform, extensive, professional, and premium fitness content with diverse activities and services are offered to encourage users to engage in daily exercise. Keep platform leverages AI technology to provide personalized workout programs incorporating recorded courses and interactive live streaming classes, dynamically customized to each user’s athletic levels, fitness goals, daily workout patterns and diet. Keep’s services seamlessly connect the physical and digital realms, spanning smart devices, workout equipment, athletic apparel and food to provide an immersive fitness experience.

For more information on Keep Inc., visit https://keep.com/.

Forward-looking Statements

This press release contains forward-looking statements relating to the business outlook, estimates of financial performance, forecast business plans and growth strategies of the Company. These forward-looking statements are based on information currently available to the Company and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realised in the future. Underlying these forward-looking statements are a lot of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the board of directors of the Company or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements.

Non-IFRS Measures

To supplement our consolidated financial statements, which are presented in accordance with IFRS Accounting Standards as issued by the IASB, we also use adjusted net loss as an additional financial measure, which is not required by, or presented in accordance with, IFRS Accounting Standards.

The Company’s management believe adjusted net loss provides useful information to investors and others in understanding and evaluating our consolidated results of operations in the same manner as they help our management. However, our presentation of adjusted net loss may not be comparable to similarly titled measures presented by other companies. The use of adjusted net loss has limitations as an analytical tool, and you should not consider it in isolation from, or as a substitute for an analysis of, our results of operations or financial condition as reported under IFRS Accounting Standards.

 

Consolidated Statement of Profit or Loss

Year ended December 31,

2024

2023

RMB’000

RMB’000

Revenues

2,065,694

2,137,834

Cost of revenues

(1,100,262)

(1,176,190)

Gross profit

965,432

961,644

Fulfillment expenses

(122,619)

(155,652)

Selling and marketing expenses

(757,903)

(569,266)

Administrative expenses

(233,203)

(209,287)

Research and development expenses

(438,969)

(449,700)

Other income

10,199

44,137

Other gains, net

1,836

2,539

Operating loss

(575,227)

(375,585)

Finance income

43,298

54,514

Finance expenses

(2,197)

(5,282)

Finance income, net

41,101

49,232

Fair value changes of convertible redeemable preferred shares

1,432,261

(Loss)/profit before income tax

(534,126)

1,105,908

Income tax expenses

(584)

(Loss)/profit for the year

(534,710)

1,105,908

(Loss)/earnings per share

 (expressed in RMB per share)

Basic

(1.15)

3.78

Diluted

(1.15)

3.50

Consolidated Statement of Financial Position

As at December 31,

2024

2023

RMB’000

RMB’000

ASSETS

Noncurrent assets

Property and equipment

19,367

17,982

Right-of-use assets

34,657

62,256

Intangible assets

7,455

11,561

Financial assets at fair value through profit or loss

54,224

13,519

Other non-current assets

54,164

51,994

169,867

157,312

Current assets

Inventories

136,736

121,380

Accounts receivable

205,191

228,279

Prepayments and other current assets

195,486

174,842

Financial assets at fair value through profit or loss

433,009

65,199

Short-term time deposits

553

88,960

Restricted bank deposits

700

Cash and cash equivalents

764,260

1,612,769

1,735,935

2,291,429

Total assets

1,905,802

2,448,741

EQUITY

Equity attributable to owners of the Company

Share capital

168

168

Other reserves

8,204,827

8,187,464

Accumulated losses

(6,849,193)

(6,314,483)

Total equity

1,355,802

1,873,149

Consolidated Statement of Financial Position (Continued)

As at December 31,

2024

2023

RMB’000

RMB’000

LIABILITIES

Noncurrent liabilities

Lease liabilities

17,462

32,453

Other non-current liability

5,639

10,968

23,101

43,421

Current liabilities

Accounts payable

149,240

157,417

Accrued expenses

246,152

177,355

Other current liabilities

42,076

57,838

Contract liabilities

71,790

93,280

Borrowings

10,009

Lease liabilities

17,641

36,272

526,899

532,171

Total liabilities

550,000

575,592

Total equity and liabilities

1,905,802

2,448,741

 

The following table reconciles our adjusted net loss for the years presented to the most directly comparable financial measure calculated and presented in accordance with IFRS Accounting Standards, which is (loss)/ profit for the years ended December 31, 2024 and 2023:

 

Reconciliation of (loss)/profit to adjusted net loss

(Non-IFRS measures):

For the year

ended December, 31

2024

2023

RMB’000

RMB’000

(Loss) /profit for the year

(534,710)

1,105,908

Adjustments for:

Share-based payment expenses

65,104

30,935

Fair value changes of convertible redeemable preferred shares

(1,432,261)

Adjusted net loss for the year (Non-IFRS measures)

(469,606)

(295,418)

 

JIECANG & LOGICDATA at CIFF 2025: Leading the Future of Electric Standing Desk Innovation

GUANGZHOU, China, March 28, 2025 /PRNewswire/ — As CIFF 2025 unfolds, JIECANG and LOGICDATA are leading the way in electric standing desk technology. With the theme “Elevate • Future”, they are presenting groundbreaking solutions that empower office furniture manufacturers to stay ahead of the curve in a rapidly evolving market.


Meeting Market Demands: Smart, Flexible, and Sustainable Solutions

The electric standing desk market is facing intense competition, particularly in commercial, home, and gaming sectors. As businesses embrace smarter, flexible, and sustainable office solutions, JIECANG and LOGICDATA are committed to helping brands adapt to these evolving demands. Their innovative technologies are designed to meet the growing demand for intelligent, ergonomic, and adaptable workspaces.


Innovation in Design: Breakthrough Lifting Column Technology

At CIFF 2025, JIECANG and LOGICDATA are unveiling their new lifting column technology, featuring a bottom-free design that challenges conventional standing desk systems. This innovation provides enhanced design flexibility, improves stability, and increases load-bearing capacity, offering a game-changing solution for both commercial and home office markets.

Smart & Human-Centric: The Smart Lifting System and Safety-Evo

JIECANG and LOGICDATA’s Smart Lifting System boosts efficiency with speeds up to 80mm/s and a 120kg load capacity. The system also supports OTA updates and remote services, offering a smarter user experience. Meanwhile, the Safety-Evo anti-collision technology ensures a smoother, safer operation, making it ideal for any workspace.

Sustainability at the Core: Green Solutions for the Entire Product Lifecycle

JIECANG and LOGICDATA integrate PoE technology for efficient power management and prioritize sustainability throughout the product lifecycle—from development to recycling. Their commitment to reducing carbon footprints aligns with the rising demand for eco-friendly products, giving brands a competitive edge.

JIECANG and LOGICDATA: Strong Partnership for Global Growth

With over 20 years of expertise, JIECANG and LOGICDATA offer end-to-end solutions for global brands, ensuring seamless service from design to delivery.

JIECANG excels in deep customization, rapid response, global manufacturing, and localized services, addressing a wide range of customer needs. Meanwhile, LOGICDATA is known for its advanced R&D, focusing on innovative solutions primarily for European and American markets. Together, the two brands guarantee both product innovation and technical leadership, while also achieving large-scale production and global service coverage.

At CIFF 2025, visitors can experience firsthand how these innovations are shaping the future of office furniture. Contact us to discover how we can help your brand thrive!

Farmmi, Inc. Announces Grand Opening of New Warehouse in New Jersey

LISHUI, China, March 28, 2025 /PRNewswire/ — Farmmi, Inc. (“Farmmi” or the “Company”) (Nasdaq: FAMI) today announced the official opening of its brand-new warehouse located in New Jersey, USA on March 27, 2025. The facility covers approximately 49,800 square feet and marks a significant expansion of the Company’s logistics and warehousing operations on the U.S. East Coast, reinforcing Farmmi’s strategic presence in the American market.

The new logistics hub, operated by Farmmi’s U.S. subsidiary, Farmmi USA Inc., is located on Randolph Road in Somerset, New Jersey. This expansion will substantially enhance the Company’s warehousing capabilities, streamline logistics operations, and significantly reduce shipping costs for customer orders in the Eastern U.S., while also shortening delivery times.

Ms. Yefang Zhang, Chairwoman and CEO of Farmmi, commented:
“As an agricultural products supplier and distribution logistics services provider, we are dedicated to optimizing our distribution network to better serve our growing customer base with high-quality products. The official launch of our New Jersey facility not only strengthens Farmmi’s competitiveness in the U.S. market but also further improves our operational efficiency and supports our long-term strategic goals.”

About Farmmi, Inc.

Founded in 1998, Farmmi, Inc. (Nasdaq: FAMI) is an agricultural products supplier, processor and logistics service provider, with a focus on edible mushrooms (including shiitake and wood ear mushrooms) and other agricultural products. The Company distributes high-quality agricultural goods to the global market primarily through its established distribution channels. For more information, please visit the Farmmi official website.

Forward-Looking Statements

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. Such offers may only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws.

Certain statements in this press release regarding the Company’s future growth prospects are forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in such statements. These risks and uncertainties include, but are not limited to: our ability to secure financing on favorable terms, customer order fulfillment, earnings volatility, exchange rate fluctuations, our ability to manage growth, the ability to generate revenue from business expansion and acquisitions, our ability to attract and retain qualified professionals, customer concentration, segment concentration, and other factors affecting the general economic conditions of the industry. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov. Farmmi may also make additional forward-looking statements from time to time in written or oral form, including in filings with the SEC and in reports to shareholders. Please note that all forward-looking statements are based on current assumptions believed to be reasonable as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by law.

For more information, please contact: 

Farmmi, Inc.
Investor Relations
Tel: +86-0578-82612876
ir@farmmi.com

AZI Received Nasdaq Notification Regarding Minimum Market Value Deficiency

BEIJING, March 28, 2025 /PRNewswire/ — Autozi Internet Technology (Global) Ltd. (Nasdaq: AZI) (“Autozi” or the “Company”), a automotive products and services company in China, today announced that it has received written notification (the “Notification Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) dated March 25, 2025, notifying the Company that it is not in compliance with the minimum Market Value of Listed Securities (MVLS) of $50,000,000. Nasdaq Listing Rule 5450(b)(2)(A) requires a company that has its primary equity security listed on the Nasdaq Global market to maintain a minimum Market Value of Listed Securities (MVLS) of $50,000,000, and Nasdaq Listing Rule 5810(c)(3)(C) provides that a failure to meet the market value requirement exists if the deficiency continues for a period of last 30 consecutive business days. Based on the market value of the Company for the 30 consecutive business days from February 10, 2025 to March 24, 2025, the Company no longer meets the requirement of minimum Market Value of Listed Securities (MVLS).

The Notification Letter does not impact the Company’s listing on The Nasdaq Global Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has been provided 180 calendar days, or until September 22, 2025, to regain compliance with the market value requirement. To regain compliance, the Company’s MVLS must close at $50,000,000 or more for a minimum of ten consecutive business days during the compliance period of 180 calendar days. If the Company does not regain compliance by September 22, 2025 or transfer to The Nasdaq Capital Market, the Company will receive written notification that its securities are subject to delisting. 

The Company intends to monitor its market value of publicly held shares between now and September 22, 2025 and intends to cure the deficiency within the prescribed grace period. During this time, the Company expects that its Class A ordinary shares will continue to be listed and traded on The Nasdaq Global Market.

Notwithstanding the Notification Letter, the Company remains confident in its core business fundamentals and its position in the automotive services market in China. Autozi’s advanced supply chain cloud platform and SaaS solutions continue to create tangible value for both customers and partners, supporting the Company’s long-term growth strategy. Management is focused on operational optimization, disciplined execution, and prudent capital allocation, all with the goal of driving sustainable value for Autozi’s shareholders. The Company believes that these efforts will position Autozi for continued success and expansion in the years ahead.

About Autozi

Autozi Internet Technology (Global) Ltd. is a leading, fast-growing provider of lifecycle automotive services in China. Founded in 2010, Autozi offers a comprehensive range of high-quality, affordable, and professional automotive products and services through both online and offline channels across the country. Leveraging its advanced online supply chain cloud platform and SaaS solutions, Autozi has built a dynamic ecosystem that connects key participants across the automotive industry. This interconnected network enables more efficient collaboration and streamlined processes throughout the entire supply chain, positioning Autozi as a key driver of innovation and growth in the automotive services sector.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995, including but not limited to statements related to Autozi’s cash position, financial resources and potential for future growth, market acceptance and penetration of new or planned product offerings, and future recurring revenues and results of operations. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “hope,” “going forward,” “intend,” “ought to,” “plan,” “project,” “potential,” “seek,” “may,” “might,” “can,” “could,” “will,” “would,” “shall,” “should,” “is likely to” and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about the Company’s beliefs and expectations are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact Information

The Blueshirt Group
Jack Wang
Email: Jack@blueshirtgroup.co 

Mega Matrix Inc. Announces 2024 Year-End Financial Results

SINGAPORE, March 27, 2025 /PRNewswire/ — Mega Matrix Inc. (“MPU” or the “Company”) (NYSE American: MPU), today announced year-end financial results for its fiscal year 2024 ended December 31, 2024. 


Financial Highlights

  • In 2024, the Company’s total annual revenue reached a record high of $36.2 million, primarily driven by approximately $31.6 million from membership and top-up streaming services, and approximately $3.7 million from online advertising services. The Asia-Pacific market accounted for about 44.89% of the total revenue, and the United States and Canada contributed about 37.11%.
  • As for profitability, the Company achieved a gross profit of about $21.0 million in 2024, resulting in a gross profit margin of 58.09%.

Operational Highlights

  • In 2024, the revenue from membership and top-up streaming services was approximately $31.6 million and user recharge reached approximately $33.4 million.
  • During 2024, the Company had 10.0 million total active users and 1.0 million total paying users. The average revenue per user (ARPU) was approximately $3.15 while the average revenue per paying user (ARPUU) was approximately $31.22. Period Active Users (PAU) from the United States and Canada accounted for approximately 20.5% of the PAU user base, and 36.5% were from the Asia-Pacific region, making theses the Company’s two largest user markets. The ARPU in the two regions were approximately $6.53 and $3.15, respectively.
  • As of March 31, 2025, FlexTV’s content library included approximately 560 short dramas, spanning over 2,400 titles in 15 languages. Among these, around 90 short dramas are self-produced, with half originally created in English.
  • In a strategic move to expand our global footprint in 2024, the Company established strategic cooperation with international partners. This includes a plan to start a joint venture with 9Yards to launch a $100 million investment fund focusing on short drama production and AI-driven projects, and a collaboration with Telkomsel to introduce FlexTV’s short drama content to the Indonesian market through telecom packages.


Management Commentary

Mr. Yucheng Hu, CEO of MPU, commented, “In 2024, FlexTV achieved remarkable growth across multiple fronts, delivering strong revenue performance and a significant increase in original content output, while maintaining steady user engagement that validates our strategic direction. Our innovative short dramas, specifically designed for vertical viewing, continue to resonate deeply with audiences, solidifying our position as a pioneer in this area.

In 2025, we will continue to expand FlexTV’s content library, deepen partnerships, and enhance user engagement, driving sustained growth and innovation in the global short drama market, reaffirming our confidence in FlexTV’s potential to deliver value to both audiences and shareholders.”

About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through Yuder Pte, Ltd., an indirect wholly owned subsidiary of the Company. Mega Matrix Inc. is a Cayman Islands corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Key Metrics

The numbers for our key metrics, which include our period active users (PAU), period paying users (PPU), average membership and top-up streaming service revenue per active user (ARPU), and average membership and top-up streaming service revenue per paying user (ARPPU), are calculated using internal company data based on the activity of user accounts. We define an active user as a user who has downloaded and opened the FlexTV app at least once. We define a paying user as a user who has registered for a membership or has topped up, provided a method of payment, and is entitled to access FlexTV services (this membership or topping up does not include participation in free trials or other promotional offers extended by FlexTV to new users). We define ARPU as average membership and top-up streaming services revenue generated by each active user in one quarter. We define ARPPU as average membership and top-up streaming services revenue generated by each paying user in one quarter. We use these metrics to assess the growth and health of the overall business and believe that ARPU best reflects our ability to attract, retain, engage and monetize our users, and thereby drive revenue. While these numbers are based on what we believe to be reasonable estimates of our user base for the applicable period of measurement, there are inherent challenges in measuring usage of our products across large online and mobile populations around the world. In addition, we are continually seeking to improve our estimates of our user base, and such estimates may change due to improvements or changes in technology or our methodology.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the heading “Risk Factors” in documents filed by the Company with the Securities and Exchange Commission (“SEC”), including the Company’s latest annual report on Form 20-F, filed with the SEC on March 28, 2025, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

X (f/k/a Twitter):

twitter.com/MegaMatrixMPU 

Facebook:

facebook.com/megamatrixmpu 

facebook.com/flextvus 

LinkedIn:

linkedin.com/company/megamatrixmpu

TikTok:

tiktok.com/@flextv_english

YouTube:

youtube.com/@FlexTV_English

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

For inquiries, please contact: Info@megamatrix.io

 

Butterfork Launches the Purest Series: The Kitchen Knives Redefining Precision, Durability, and Style

DOVER, Del., March 28, 2025 /PRNewswire/ — Butterfork, a brand known for its commitment to precision and performance, has officially launched the Purest Series of kitchen knives. This new collection blends exceptional functionality with a refined, sleek design, ideal for both professional chefs and passionate home cooks. The Purest Series promises to elevate the culinary experience, offering knives that combine unmatched precision, durability, and style for the modern kitchen.

Butterfork Launches the Purest Series: The Kitchen Knives Redefining Precision, Durability, and Style
Butterfork Launches the Purest Series: The Kitchen Knives Redefining Precision, Durability, and Style

Uncompromising Quality: CATRA-Tested Performance

The knives in the Purest Series have undergone rigorous testing by the Cutlery and Allied Trades Research Association (CATRA), the global leader in cutlery performance evaluation. With an Excellent rating in both initial sharpness and wear resistance, these knives have been proven to stay sharper and perform longer than many alternatives on the market. The third-party certification from CATRA provides chefs and home cooks with the assurance that these knives will continue to perform at their highest level for years to come.

The Essential Kitchen Set: Four Purpose-Built Knives

The Purest Series features four knives, each designed with specific culinary tasks in mind:

  • Chef’s Knife: This all-purpose knife is ideal for everything from chopping vegetables to slicing meat. It provides exceptional precision and comfort for both professional chefs and home cooks alike.
  • Bread Knife: The serrated edge of this knife glides effortlessly through crusty loaves of bread, ensuring clean, even slices without crushing delicate pastries.
  • Nakiri Knife: Inspired by Japanese craftsmanship, this knife is designed specifically for vegetable preparation. Its wide, flat blade offers superior control for chopping, dicing, and slicing, making it a top choice for vegetable-centric dishes.
  • Paring Knife: Perfect for intricate tasks such as peeling, trimming, and coring, this knife allows chefs to handle delicate ingredients with precision.

Crafted for Precision: Butterfork-S Steel

Each knife in the Purest Series is crafted from Butterfork-S, a proprietary high-carbon stainless steel developed for ultimate performance. The steel’s unique blend of carbon, chromium, and other elements ensures that these knives retain their sharp edge 2.78x longer than standard knives. In addition to its impressive edge retention, the Butterfork-S steel also offers enhanced corrosion resistance, ensuring that these knives stay sharp and durable even with heavy use.

Elegant Customization for Every Chef

In addition to their performance, the knives in the Purest Series offer customizable handles in six vibrant colors. Whether one prefers a classic black handle or a Yellow statement, Butterfork allows each chef to personalize their knife set, ensuring that their tools reflect their unique style.

Durable and Reliable

Built to withstand the demands of both professional kitchens and home cooking environments, the Purest Series knives are designed for durability and reliability. Their robust construction, combined with easy maintenance, ensures that these knives will remain an essential tool in any kitchen for years to come.

About Butterfork

Founded in 2024, Butterfork is committed to revolutionizing the kitchenware industry by merging cutting-edge design with exceptional quality. With over 25 years of experience in the craft of kitchen knives, Butterfork is dedicated to delivering products that combine innovation, form, and function to meet the needs of chefs and home cooks alike.

Take Action Today

The Purest Series is available now. Discover the ultimate fusion of style, precision, and durability by visiting www.butterfork.com. Follow Butterfork on Instagram, Facebook, and YouTube for the latest updates and exclusive offers. Don’t miss the opportunity to elevate your kitchen with the finest tools available.

Media Contact:
info@butterfork.com 
caroline@butterfork.com