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Global Industry Partners Jointly Release Net5.5G Best Practices & Deployment Guide Whitepaper

BARCELONA, Spain, March 5, 2025 /PRNewswire/ — At MWC Barcelona 2025, the Broadband Development Congress (BDC), hosted by the WBBA, was a resounding success. Themed “Smarter Broadband: Investment. Innovation. Intelligence,” the congress attracted over 200 industry leaders worldwide. Attendees exchanged views on key issues, including the Net5.5G evolution path, network technology innovation, and commercial practices.

Ryan Qiu, Vice President of Huawei's Data Communication Product Line, delivering a keynote speech titled
Ryan Qiu, Vice President of Huawei’s Data Communication Product Line, delivering a keynote speech titled “Accelerating Net5.5G Innovation with AI WAN, Striding to an Intelligent Era”

In his keynote speech at the congress, Ryan Qiu, Vice President of Huawei’s Data Communication Product Line, noted that the integration of AI into carriers’ strategies is gaining momentum, with Net5.5G serving as a catalyst for the in-depth convergence of networks and AI. To address this trend, Huawei has introduced AI WAN, a cutting-edge solution that comprehensively empowers IP networks in the Net5.5G era using AI. This solution enables carriers to unlock new network value across diverse scenarios, including individual, home, and enterprise settings.

At the congress, global industry leaders from organizations such as the WBBA, IPv6 Forum, ITU, and IETF reached a consensus during the “Fireside Chat: Forward-Looking Dialogue on the Evolution of Next-Gen Networks.” Net5.5G has now become an industry-wide consensus, making significant strides in areas including industry development, policy formulation, and commercial practices. The leaders called for enhanced industry collaboration and continued joint efforts to drive the commercial success of Net5.5G, thereby guiding the sustainable development of the Internet industry.

The WBBA, IPv6 Forum, ITU, IETF, and NIDA have collaborated to establish a next-generation network cooperation mechanism. While the WBBA and IPv6 Forum drive industry consensus, the ITU-T explores future network needs, the IETF spearheads the formulation of network technology standards, and the NIDA defines network construction standards and facilitates technology adoption.

The Global Net5.5G Pioneer Program has made steady progress. At the congress, industry leaders jointly released the latest progress of the program. To date, a number of outstanding Net5.5G pioneers have emerged globally, including 18 visionary pioneers, 2 region pioneers, and 18 business pioneers.

Multiple carriers shared their experience and achievements in Net5.5G commercial deployment. As an integrated operator in Spain, MasOrange builds an efficient capacity growth, ultimate experience and intent-based automation Net5.5G converged IP network. 400GE/800GE, SRv6 + slicing meet traffic surging and automatic network scheduling requirements, and support new services such as edge computing in the future. Based on Network Digital Map, through AI empowerment, MasOrange will stride to AN L4, a new phase of intelligent evolution. In addition, the WBBA has released the Net5.5G Best Practices & Deployment Guide Whitepaper, showcasing global Net5.5G best practices and providing valuable insights and inspiration for the industry.

As Net5.5G continues to evolve, the WBBA urges global industry organizations to strengthen industry cooperation and jointly drive industry innovation in technical standards, policies, and commercial practices to foster a thriving data communications ecosystem.

SECuRE trial update: 92% of pre-chemo participants experience greater than 35% drop in PSA levels across all cohorts. Cohort Expansion Phase commences.

HIGHLIGHTS

  • Safety Review Committee (SRC) meeting confirms end of the Dose Escalation Phase and commencement of the Cohort Expansion Phase (Phase II stage) of the SECuRE study.
  • Based on the efficacy and safety assessment of all cohorts and the focus on earlier stages of treatment, the SRC confirmed expansion at 8 GBq dose level and recommended to increase the number of cycles from up to 4 to up to 6.
  • Cohort 4 of the Dose Escalation Phase of the SECuRE trial, assessing multiple administrations of 67Cu-SAR-bisPSMA, is complete. Prostate-specific antigen (PSA) levels are continuing to drop in 3 participants, with reductions ≥80% observed in 3 cases so far. A complete response was achieved in a participant in cohort 4 following 2 doses of 12 GBq of 67Cu-SAR-bisPSMA to date, based on the Response Evaluation Criteria in Solid Tumors v1.1 (RECIST).
  • Across all cohorts, 68% of participants have shown reductions in PSA levels, despite the vast majority of the participants (77%) only receiving a single dose of 67Cu-SAR-bisPSMA. The majority of participants that did not respond to the treatment had received chemotherapy in the metastatic castration-resistant prostate cancer (mCRPC) stage, were part of the lowest dose cohort (cohort 1) and had some of the highest PSA levels at study entry.
  • 67Cu-SAR-bisPSMA has shown a favourable safety profile across all cohorts. The majority of reported adverse events (AEs) were Grade 1-2, with anaemia and thrombocytopenia being the most prevalent among the haematological events. Most AEs have now resolved. One Dose Limiting Toxicity (DLT) in 1 participant occurred at the highest dose in cohort 4, a transient Grade 4 thrombocytopenia, which improved to Grade 3 after 2 weeks. This participant had bone metastases, a high baseline PSA [1503.12 ng/mL] and had previously been treated with chemotherapy and multiple lines of 177Lu-PSMA-617. A PSA drop of 10.7% was observed following the administration of 1 cycle of 67Cu-SAR-bisPSMA.  
  • In the group of 13 participants who had not received chemotherapy in the mCRPC setting, all but 1 participant had PSA drops of 35% or more, predominantly with single doses of 67Cu-SAR-bisPSMA. PSA reductions of 80% or more were achieved in almost half of these patients. The majority of participants had received ≥3 lines of therapy prior to enrollment in the study (63.6%). Disease control based on radiographic assessment (RECIST) was achieved in 11 of the 12 (92%) pre-chemotherapy participants who had evaluable disease at baseline.
  • The SECuRE trial protocol has been amended to bring 67Cu-SAR-bisPSMA to participants at earlier stages of their disease, in the pre-chemotherapy setting. The amendment incorporates an increase in the number of participants in the Cohort Expansion Phase of the trial from 14 to 24, with a subset of participants planned to receive the combination of 67Cu-SAR-bisPSMA with enzalutamide, an ARPi.

SYDNEY, March 5, 2025 /PRNewswire/ — Clarity Pharmaceuticals (ASX: CU6) (“Clarity” or “Company”), a clinical-stage radiopharmaceutical company with a mission to develop next-generation products that improve treatment outcomes for children and adults with cancer, is pleased to announce the completion of the Dose Escalation Phase of the SECuRE trial (NCT04868604)[1]. The SRC recommended the trial progress to the Cohort Expansion Phase (Phase II) at the 8 GBq of 67Cu-SAR-bisPSMA dose level based on the safety and efficacy data demonstrated in every cohort of the study.

Across cohorts 1-4 of the SECuRE study, 68% of participants have shown reductions in PSA levels, despite the vast majority of the participants (77%) only receiving a single dose of 67Cu-SAR-bisPSMA. Most of these participants had a high level of bone metastases at study entry (77.3%), a high median PSA of 112.86 ng/mL (range 0.1-1503.1) and were heavily pre-treated with ≥3 lines of therapy (63.6%). Disease control based on radiographic assessment (complete response + partial response + stable disease) was achieved in 78% of the participants so far (including 2 partial responses and 1 complete response observed to date based on the RECIST assessment). The complete response was seen in a patient dosed twice at 12 GBq. This is the second complete response recorded following 67Cu-SAR-bisPSMA treatment, first being the patient previously reported to have a complete response following 2 doses at 8 GBq (first dose administered through the SECuRE trial, and a second dose administered under the the United States [US] Food and Drug Administration [FDA] Expanded Access Program [EAP]).

Safety profile of 67Cu-SAR-bisPSMA is favourable across cohorts 1-4 with the majority of AEs being Grade 1-2. Anaemia and thrombocytopenia were the most prevalent AEs among the haematological events. No overall trends in other haematological parameters or renal safety were observed in any of the cohorts. Only 1 DLT has been reported in the trial (transient Grade 4 thrombocytopenia, which improved to Grade 3 after 2 weeks) in a patient in the highest dose cohort (cohort 4). This participant had a baseline PSA of 1503.12 ng/mL, had been treated with multiple lines of therapy, including chemotherapy in the mCRPC setting and multiple doses of 177Lu-PSMA-617, and had bone metastases prior to entering the study. The participant’s baseline characteristics may have contributed to the lowering of the platelet levels. Despite the unfavourable prognosis of this participant, which included a very high PSA and being heavily pre-treated, 1 cycle of 67Cu-SAR-bisPSMA was still able to reduce his PSA by 10.7% (to 1341.80 ng/mL).

Pre-chemotherapy participants

Thirteen participants across cohorts 1-4 in the SECuRE trial were naïve to taxanes in the mCRPC setting (pre-chemotherapy), including 2 in cohort 1 and 3 in cohort 2. The majority of pre-chemotherapy participants had bone metastases (69.2%) with a median PSA of 42.41 ng/mL (range 0.1-182.4) at study entry. Almost half of these participants received ≥3 lines of therapy prior to trial enrolment (46.2%).

Despite the heavy disease burden and the majority of participants only receiving single doses of 67Cu-SAR-bisPSMA, there was an outstanding result observed in the pre-chemotherapy setting. Out of the total of 13 pre-chemotherapy participants across all cohorts, 12 had PSA drops greater than 35%. PSA reductions greater than 50% were reached in 61.5% (8/13) of participants, and reductions of 80% or more were achieved in 46.2% (6/13) of participants. Disease control based on the RECIST assessment was also observed in 11 out of 12 pre-chemotherapy participants (92%) who had measurable disease at baseline. One participant reached a complete response with 2 doses of 12 GBq in cohort 4, 2 participants had partial responses (cohort 2 and cohort 4), and 8 participants achieved stable disease at this time.

Three participants in the pre-chemotherapy setting of the SECuRE trial had previously been treated with actinium-225 based radioligand therapies (RLT) and, in 1 case, in combination with lutetium-177 based therapy. All 3 participants showed reductions in PSA levels following treatment with 67Cu-SAR-bisPSMA in the trial. Notably, 1 of these 3 participants showed a PSA reduction of 83.4% following the administration of 2 doses of 12 GBq of 67Cu-SAR-bisPSMA in cohort 4, despite being heavily pre-treated. The lines of therapy administered to the patient prior to the SECuRE trial enrollment included androgen deprivation therapy (ADT), 2 androgen receptor pathway inhibitors (ARPIs), autologous cellular immunotherapy, and investigational agents (immunotherapy and 177Lu-PSMA-I&T plus 225Ac-J591).

Safety assessment in pre-chemotherapy participants was comparable to the overall patient population with most AEs being Grade 1 and Grade 2.

Cohort Expansion Phase

Based on the data from cohorts 1-4, the SRC recommends the SECuRE trial progress to Cohort Expansion (Phase II) at an 8 GBq dose level, with an increase in the total number of cycles from up to 4 to up to 6. This recommendation is based on the favourable safety profile of 67Cu-SAR-bisPSMA observed to date.

Cohort 2 (single dose of 8 GBq of 67Cu-SAR-bisPSMA) with 3 participants had the highest rate of PSA response in the trial, and all participants in the cohort had disease control based on the RECIST assessment (including one partial response). The PSA reductions were 81.4%, 95.2% and 99.4%. Only 1 participant in this cohort developed 67Cu-SAR-bisPSMA-related AEs (Grade 1 dry mouth and altered taste, both improved, and Grade 2 fatigue, resolved). No haematological toxicity was reported in the cohort.

The first patient to receive 2 doses of 67Cu-SAR-bisPSMA at 8 GBq (first dose through the SECuRE trial and second dose under the US EAP) achieved a complete anatomical, molecular and biochemical response (assessed by the RECIST criteria, positron emission tomography [PET] and PSA, respectively). He had been heavily pre-treated (chemotherapy in the neoadjuvant setting, ADT, 2 ARPIs and an investigational agent) prior to entering the SECuRE study. The patient’s recent follow up showed that he remains with undetectable PSA for almost 16 months, having received his first dose of 67Cu-SAR-bisPSMA over 20 months ago (June 2023). A recent PSMA PET showed no signs of recurrent or metastatic disease. Most AEs related to 67Cu-SAR-bisPSMA were mild or moderate, with the majority having either improved or resolved over time.

Based on these safety and efficacy data, where exceptional efficacy signals were observed at lower radiation doses, 8 GBq was chosen as an optimal dose for the Cohort Expansion Phase.

The SECuRE trial protocol has been amended to include evaluation of mCRPC participants who have not received chemotherapy in the metastatic (pre-chemotherapy) setting. This amendment is aligned with Clarity’s strategy of bringing 67Cu-SAR-bisPSMA to participants with earlier stages of the disease and is based on the promising safety and efficacy data, especially in pre-chemotherapy participants of the SECuRE trial.

The protocol amendment also incorporates an increase in the number of participants in the Cohort Expansion Phase of the trial from 14 to 24, in which a subset of participants will receive the combination of 67Cu-SAR-bisPSMA with enzalutamide, an ARPI. These changes are aimed at optimising the development of all of Clarity’s products in prostate cancer, following ongoing discussions with and advice from many important global medical experts in the field of prostate cancer, including the Company’s Clinical Advisory Board members, Prof Louise Emmett and Prof Oliver Sartor, as well as the SRC.

Clarity’s Executive Chairperson, Dr Alan Taylor, commented, “The SECuRE trial continues to generate extraordinary results, and we thank our team, Principal Investigators, members of the SRC, and especially the participants who have contributed to the study. Seeing the safety profile and already observing impressive signs of efficacy (despite the majority of participants only receiving a single cycle of 67Cu-SAR-bisPSMA and the primary focus of the Dose Escalation Phase being safety assessments), we are thrilled to progress to Phase II, the Cohort Expansion Phase, of our theranostic SECuRE trial.

“Dose escalation trial design has not been routinely used in other RLT studies. By pioneering this approach with the SECuRE trial, Clarity was looking to systematically evaluate the safety of 67Cu-SAR-bisPSMA in the context of its therapeutic effect. By gradually increasing the dose from one cohort to the next, we have minimised the risk of AEs and established a favourable safety profile for patients, while also demonstrating that 67Cu-SAR-bisPSMA is effective.

“We are looking forward to executing our strategy of bringing 67Cu-SAR-bisPSMA to earlier lines of prostate cancer therapy with the recent protocol amendment, given the exciting data in pre-chemotherapy participants. We are also increasing the number of participants in the Cohort Expansion Phase. This decision is partly motivated by the increased demand from oncologists to include their participants into the trial, but it is also led by our decision to explore potential benefits of using a combination of 67Cu-SAR-bisPSMA with enzalutamide, following consultation with world-leading prostate cancer oncologists and nuclear medicine physicians.

“With our focus on treating earlier stage disease (pre-chemotherapy in the mCRPC setting), it is an incredible outcome to have 12 out of 13 pre-chemotherapy participants in the trial experiencing greater than 35% reductions in PSA and almost half of the 13 experiencing drops of 80% or greater. PSA reductions were seen across all cohorts, including the lowest 4 GBq cohort where all pre-chemotherapy participants exhibited greater than 50% drops in PSA from a single dose. Remarkably, one of those participants has had 4 additional doses under EAP and achieved disease control for over 2 years since first treatment. The results from 3 pre-chemotherapy participants who received 8 GBq of 67Cu-SAR-bisPSMA have been outstanding with a favourable safety profile and excellent efficacy, where PSA reductions were greater than 80% for all participants and above 95% for 2 out of the 3 participants, with all of them achieving radiographic disease control and 1 showing a complete response to date.

“The very compelling safety and efficacy data for SAR-bisPSMA that we continue generating stems from Clarity’s strong adherence to the highest level of scientific and clinical research. At the heart of this rigorous approach is the dimer “bis” molecule developed at the benchtop of Australian science and translated into the clinic. When optimising the PSMA molecule, the goal was to create an ideal candidate for both therapy and diagnosis of prostate cancer. We wanted to overcome the shortfalls of the current generation of PSMA-targeting products, increasing not only the amount of product in the lesions, but also how long the product is retained in the lesions over time. We are now seeing these results in the clinic with 67Cu-SAR-bisPSMA in the SECuRE trial and with 64Cu-SAR-bisPSMA in our diagnostic trials.

“The recent receipt of 3 Fast Track Designations from the US FDA for our optimised SAR-bisPSMA molecule, one of which was based off the data presented here, is testament to the high quality of this data, but also reflects a critical need for novel solutions in prostate cancer management. With an estimated combined market value of approximately US$10-15 billion by 2030 for PSMA-targeted products, we are hoping to address the evident high unmet need in this segment, from first diagnosis to the treatment of metastatic disease, and improve treatment outcomes for men with prostate cancer around the world.

“We look forward to swiftly recruiting into the next phase of the SECuRE trial, moving towards a Phase III pivotal trial. We are very excited about what the future holds for this promising product and are working tirelessly to bring it to people who need it most in a timely manner, whilst adhering to the highest standards of clinical research.”

About the SECuRE trial

The SECuRE trial (NCT04868604)[1] is a Phase I/IIa theranostic trial for identification and treatment of participants with PSMA-expressing mCRPC using 64Cu/67Cu-SAR-bisPSMA. 64Cu-SAR-bisPSMA is used to visualise PSMA-expressing lesions and select candidates for subsequent 67Cu-SAR-bisPSMA therapy. The trial is a multi-centre, single arm, dose escalation study with a cohort expansion involving approximately 54 participants in the US and Australia. The overall aim of the trial is to determine the safety and efficacy of 67Cu-SAR-bisPSMA for the treatment of prostate cancer.

About SAR-bisPSMA

SAR-bisPSMA derives its name from the word “bis”, which reflects a novel approach of connecting two PSMA-targeting agents to Clarity’s proprietary sarcophagine (SAR) technology that securely holds copper isotopes inside a cage-like structure, called a chelator. Unlike other commercially available chelators, the SAR technology prevents copper leakage into the body. SAR-bisPSMA is a Targeted Copper Theranostic (TCT) that can be used with isotopes of copper-64 (Cu-64 or 64Cu) for imaging and copper-67 (Cu-67 or 67Cu) for therapy.

67Cu-SAR-bisPSMA and 64Cu-SAR-bisPSMA are unregistered products. The safety and efficacy of 67Cu-SAR-bisPSMA and 64Cu-SAR-bisPSMA have not been assessed by health authorities such as the US FDA or the Therapeutic Goods Administration (TGA). There is no guarantee that these products will become commercially available.

About Prostate Cancer

Prostate cancer is the second most common cancer diagnosed in men globally and the fifth leading cause of cancer death in men worldwide[2]. Prostate cancer is the second-leading causes of cancer death in American men. The American Cancer Institute estimates in 2025 there will be about 313,780 new cases of prostate cancer in the US and around 35,770 deaths from the disease[3].

About Clarity Pharmaceuticals

Clarity is a clinical stage radiopharmaceutical company focused on the treatment of serious diseases. The Company is a leader in innovative radiopharmaceuticals, developing Targeted Copper Theranostics based on its SAR Technology Platform for the treatment of cancers in children and adults.

www.claritypharmaceuticals.com

For more information, please contact:

Clarity Pharmaceuticals

Dr Alan Taylor     

Catherine Strong

Executive Chairperson     

Investor/Media Relations

ataylor@claritypharm.com  

c.strong@morrowsodali.com 

+61 406 759 268

References

  1. ClinicalTrials.gov Identifier: NCT04868604, https://clinicaltrials.gov/ct2/show/NCT04868604
  2. Global Cancer Statistics 2022: GLOBOCAN Estimates of Incidence and Mortality Worldwide for 36 Cancers in 185 Countries, https://acsjournals.onlinelibrary.wiley.com/doi/10.3322/caac.21834
  3. American Cancer Society: Key Statistics for Prostate Cancer, https://www.cancer.org/cancer/prostate-cancer/about/key-statistics.html

This announcement has been authorised for release by the Executive Chairperson.

Prenetics Announces Fourth Quarter and Full Year 2024 Financial Results, Provides 2025 Guidance

Revenue grew 93.5% to $10.5 million in the fourth quarter and 40.9% year-over-year to $30.6 million in 2024

Cash and short-term assets of $84.8 million as of December 31, 2024

Provides first quarter and full year 2025 guidance

Projects full year 2025 revenue of $73 million to $85 million, driven by the strong launch of IM8 Health 

CHARLOTTE, N.C., March 5, 2025 /PRNewswire/ — Prenetics Global Limited (NASDAQ: PRE) (“Prenetics” or the “Company”), a leading health sciences company, today announced its preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2024, along with recent business updates.

Management Commentary

Danny Yeung, Chief Executive Officer and Co-Founder, remarked: “The past few years, including 2024, marked a pivotal rebuilding phase for Prenetics. Today, we are seeing the fruits of our labor—and 2025 will be a defining year. Our business units are gaining momentum, setting new records every month and driving sustainable growth. Leading this charge is IM8 Health, our premium supplements brand, which is making a profound health impact globally.

Since its launch 3 months ago, IM8 Health has rapidly gained traction:

  • An average order value (AOV) of $106—a testament to premium positioning and customer loyalty;
  • 83% subscription rate, with customers overwhelmingly choosing recurring monthly deliveries.

In a saturated market, IM8 has carved out a distinct position by fostering an engaged community and ecosystem centered on holistic health—empowering individuals to take ownership of their wellness journeys. This is just the beginning.

Our strategic acquisitions are bearing fruit. Europa, acquired just six months ago to support IM8’s growth, is on track to break even by the second half of 2025, with meaningful revenue expected by year-end. Meanwhile, CircleDNA has nearly doubled its revenue in 2024, transitioning from losses to standalone profitability—a testament to our operational team.

We’ve also taken steps to sharpen our focus by divesting assets in our clinical business units to focus on our fast growing consumer business. We recently sold a portion of our stake in Insighta to Tencent, reducing our ownership from 50% to 35%. This $30 million cash went in our balance sheet and values our remaining stake at $70 million, underscoring the latent value in our clinical portfolio. Meanwhile, we are conducting a strategic review of ACT, which has demonstrated steady performance in FY 2024.”

Mr. Yeung continued, “Moving forward, Prenetics will concentrate fully on our consumer health brands—IM8, Europa, and CircleDNA—businesses we wholly own 100% and are scaling aggressively. With $84.8 million in cash and short-term assets, Prenetics is well positioned to capitalize on significant growth opportunities. This momentum marks a pivotal transformation for the company: in 2024, we delivered $16.1 million in revenue (excluding ACT) and we project a robust 350-450% year-over-year revenue increase to $73$85 million (excluding ACT) in 2025, while aiming to be profitable by the end of Q4 2025 and into 2026. To our team, shareholders and partners: thank you. Together, we’re not just building a company – we’re redefining the future of global health.”

For the first quarter of 2025, we expect consumer results to be:

  • Revenue of $11.5 million to $13 million.
    • IM8: $4.0 million to $4.5 million
    • Europa: $5.0 million to $5.5 million
    • CircleDNA: $2.5 million to $3.0 million
  • Adjusted EBITDA loss: $(5.5) million to $(6.0) million

For the full year 2025, we expect consumer results to be:

  • Revenue of $73 million to $85 million
    • IM8: $30 million to $35 million
    • Europa: $30 million to $35 million
    • CircleDNA: $13 million to $15 million
  • Adjusted EBITDA loss: $(13) million to $(15) million
  • Q4 2025: Adjusted EBITDA profitable

Preliminary Financial Highlights for the fourth quarter and full year ended December 31, 2024

For the fourth quarter and full year ended December 31, 2024

Three Months Ended
December 31,

Year Ended December
31,

2024

2023

Y-o-Y
changes

2024

2023

Y-o-Y
changes

(unaudited)

(unaudited)

(unaudited)

(unaudited)

(in $ millions, except percentages)

Financial metrics

Continuing operations

Revenue

10.5

5.4

93.5 %

30.6

21.7

40.9 %

Gross profit

4.6

2.7

73.1 %

16.1

8.8

82.6 %

Loss from operations from continuing
   operations under IFRS

(12.1)

(13.3)

(8.6) %

(43.7)

(51.9)

(15.8) %

Adjusted EBITDA loss from continuing
   operations (Non-IFRS)

(6.8)

(6.1)

10.8 %

(22.2)

(24.8)

(10.5) %

 

  • Revenue from continuing operations of $10.5 million in the fourth quarter 2024, as compared to $5.4 million in the fourth quarter 2023, an increase of 93.5%.
  • Revenue from continuing operations of $30.6 million in the full year 2024, as compared to $21.7 million in the full year 2023, an increase of 40.9%.
  • Gross profit from continuing operations of $4.6 million in the fourth quarter 2024, as compared to $2.7 million in the fourth quarter of 2023, an increase of 73.1%.
  • Gross profit from continuing operations of $16.1 million in the full year 2024, as compared to $8.8 million in the full year 2023, an increase of 82.6%.
  • Gross margin of continuing operations in the fourth quarter 2024 decreased to 44.0% from 49.2% in the fourth quarter 2023.
  • Gross margin of continuing operations in the full year 2024 increased to 52.6% from 40.6% in the full year 2023, driven by operational efficiencies, better pricing strategies, and cost optimization measures.
  • Adjusted EBITDA loss from continuing operations of $(6.8) million in the fourth quarter 2024, compared to $(6.1) million in the fourth quarter 2023.
  • Adjusted EBITDA[1] loss from continuing operations of $(22.2) million in the full year 2024, a slight improvement compared to $(24.8) million in the full year 2023.

 

[1] Adjusted EBITDA is defined as loss from operations excluding (1) employee equity-settled share-based payment expenses, (2) depreciation and amortization, (3) amortization of deferred expenses, (4) acquisition and transaction-related costs, (5) strategic realignment and discontinued products impact, and (6) finance income and exchange gain or loss, net. These adjustments are made for items that may not be indicative of our business performance, including non-cash and/or non-recurring items.

About Prenetics

Prenetics (NASDAQ:PRE), a leading health sciences company, is dedicated to advancing consumer and clinical health. Our consumer initiative is led by IM8, a new health and wellness brand and Europa, one of the largest sports distribution companies in the USA. Our clinical division is led by Insighta, our $200 million venture focused on multi-cancer early detection technologies. Each of Prenetics’ units synergistically enhances our global impact on health, embodying our commitment to ‘enhancing life through science’. To learn more about Prenetics, please visit prenetics.com.

Forward-Looking Statements

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s goals, targets, projections, outlooks, beliefs, expectations, strategy, plans, objectives of management for future operations of the Company, and growth opportunities are forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which involve inherent risks and uncertainties, therefore they should not be relied upon as being necessarily indicative of future results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: the Company’s ability to further develop and grow its business, including new products and services; its ability to execute on its new business strategy in genomics, precision oncology, and specifically, early detection for cancer; the results of case control studies and/or clinical trials; and its ability to identify and execute on M&A opportunities, especially in precision oncology. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described in the “Risk Factors” section of the Company’s most recent registration statement and the prospectus therein, and the other documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Basis of Presentation

Non-IFRS Financial Measure has been provided in the financial statements tables included at the end of this press release. An explanation of this measure is also included below under the heading “Non-IFRS Financial Measure”.

Non-IFRS Financial Measure

To supplement Prenetics’ consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”), the Company is providing non-IFRS measure, adjusted EBITDA loss from continuing operations. This non-IFRS financial measure is not based on any standardized methodology prescribed by IFRS and are not necessarily comparable to similarly-titled measures presented by other companies. Management believes this non-IFRS financial measure is useful to investors in evaluating the Company’s ongoing operating results and trends.

Management is excluding from some or all of its non-IFRS results (1) Employee equity-settled share-based payment expenses, (2) depreciation and amortization, (3) Amortization of deferred expenses, (4) Acquisition and transaction-related costs, (5) Strategic realignment and discontinued products impact, and (6) finance income and exchange gain or loss, net — items that may not be indicative of our business, results of operations, or outlook, including but not limited to non-cash and/ or non-recurring items. These non-IFRS financial measures are limited in value because they exclude certain items that may have a material impact on the reported financial results. Management accounts for this limitation by analyzing results on an IFRS basis as well as a non-IFRS basis and also by providing IFRS measures in the Company’s public disclosures.

In addition, other companies, including companies in the same industry, may not use the same non-IFRS measures or may calculate these metrics in a different manner than management or may use other financial measures to evaluate their performance, all of which could reduce the usefulness of these non-IFRS measures as comparative measures. Because of these limitations, the Company’s non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS. Investors are encouraged to review the non-IFRS reconciliations provided in the tables captioned “Reconciliation of loss from operations from continuing operations under IFRS and adjusted EBITDA loss from continuing operations (Non-IFRS)” set forth at the end of this document.

Preliminary and Unaudited Nature of the Information

The financial information contained in this press release is based on preliminary, unaudited results and reflects our current estimates based on information available as of this date. These preliminary results remain subject to completion of our normal period end accounting and external audit procedures. Accordingly, actual results may differ from these estimates.

The preliminary, unaudited financial information presented here should not be viewed as a substitute for full, audited financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”). In addition, this press release does not present all necessary information for an understanding of our financial condition or results of operations as of and for the applicable period.  Investors should not place undue reliance on these preliminary results, which are not intended to be, and should not be construed as, indicative of final reported results

 

PRENETICS GLOBAL LIMITED

Non-IFRS Financial Measures

(Expressed in United States dollars unless otherwise indicated)

Reconciliation of loss from operations from continuing operations under IFRS and adjusted EBITDA loss from
continuing operations (Non-IFRS)

Three Months Ended December 31,

Year Ended December 31,

2024

2023

2024

2023

(in $ millions)

Loss from operations from continuing operations
   under IFRS

(12.1)

(13.3)

(43.7)

(51.9)

Employee equity-settled share-based payment
   expenses

1.1

6.0

10.6

Depreciation and amortization

1.5

1.6

6.0

6.7

Amortization of deferred expenses

2.1

1.7

8.3

7.8

Acquisition and transaction-related costs

1.8

3.6

Strategic realignment and discontinued products
   impact

0.7

0.2

2.4

Impairment loss of goodwill

3.9

3.9

Finance income, exchange gain or loss, net

(1.1)

(0.7)

(2.5)

(4.3)

Adjusted EBITDA loss from continuing
   operations (Non-IFRS)

(6.8)

(6.1)

(22.2)

(24.8)

 

 

Continuing revenue by product

Year Ended December 31,

2024

2023

Y-o-Y changes

(unaudited)

(unaudited)

(in $ millions, except percentages)

CircleDNA

10.0

5.9

68.0 %

ACT Genomics

14.7

15.6

(5.8) %

IM8

0.4

100.0 %

Europa

5.2

100.0 %

Others

0.4

0.2

86.8 %

30.6

21.7

40.9 %

 

 

 

Litmus Automation, MachineMetrics, and Augury Take the Lead in ABI Research’s Data Analytics for OEE: Up-and-Comers Competitive Ranking

NEW YORK, March 5, 2025 /PRNewswire/ — The new Competitive Ranking by global technology intelligence firm ABI Research provides an in-depth and unbiased examination of the solutions offered from ten emerging Overall Equipment Effectiveness (OEE) data analytics suppliers. These “up-and-comers” are defined as companies with fewer than 2,000 employees and founded within the last 15 years. Vendors outside this scope were excluded to maintain consistency. The report evaluates vendors based on eleven criteria across innovation and implementation, including connectivity, deployment, usability, new technology use, and visualization. It also assesses commercial success, time-to-value (TTV), go-to-market strategy (GTM), manufacturing vertical penetration, scalability, and pricing. The companies evaluated and ranked are: 

Market Leaders: Litmus Automation, MachineMetrics, Augury
Mainstream: Crosser, Itanta Analytics, Ekhosoft, Limble, InfluxData, MaintainX
Followers: Aptean 

“Litmus Automation ranked first overall, leading in connectivity and deployment criteria for innovation, along with high scores in scalability and time-to-value,” states James Iversen, Industrial and Manufacturing Industry Analyst at ABI Research. “MachineMetrics placed second overall due to manufacturing vertical penetration and rapid scalability through automatic data tag mapping for standardized schema. Augury ranked third overall with strong scores in commercial success and pricing structure.”

Mainstream vendors Crosser Technologies, Itanta Analytics, Ekhosoft, Limble, InfluxData, and MaintainX have robust OEE solutions. However, have ground to gain in terms of scalability and manufacturing vertical penetration. These companies have an opportunity to deploy both On-Premises and SaaS solutions with no-code alterations, along with open APIs and a strong method of data standardization. Ekhosoft and Itanta Analytics would benefit from expanding coverage to all process industries they aim to serve.

Aptean is the only follower in the assessment. “Aptean has a good base for growth with the necessary components of SaaS and On-Premises offerings, role-specific views, and low/no-code platform customization. To compete with rising Up-and-Comers, Aptean should be more flexible in how it sells its solution by working with system integrators and value-added resellers,” Iversen concludes.

These findings are from ABI Research’s Up-and-Comers: Data Analytics for OEE Competitive Ranking report. This report is part of the company’s  Industrial and Manufacturing Technologies research service, which includes research, data, and ABI Insights. Competitive Ranking reports offer comprehensive analysis of implementation and innovation strategies, to offer unparalleled insight into a company’s performance and standing in comparison to its competitors.  

About ABI Research

ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.

ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.

Contact Info

Global                                                             
Deborah Petrara                                                           
Tel: +1.516.624.2558                                                   
pr@abiresearch.com      

Massimo Motor Strengthens Strategic Partnerships at Rural King Vendor Summit, Tractor Supply Company & PetSense ASM and Partner Trade Show

Massimo’s participation in these vendor summits is not only about showcasing its lineup of UTVs, ATVs and outdoor equipment but also about listening and learning.

GARLAND, Texas, March 5, 2025 /PRNewswire/ — Massimo Motor (NASDAQ: MAMO), a manufacturer of powersports vehicles, continues to deepen its relationships with key retail partners through active engagement at major industry events. Last week, Massimo participated in the Rural King Vendor Summit in Mattoon, IL; this week, the company is attending the Tractor Supply Company & PetSense ASM and Partner Trade Show in Nashville, TN. These events serve as critical opportunities for Massimo to collaborate with store managers, district managers, buyers, associates and executives, ensuring that its products align with the needs and expectations of retailers and customers.

“At Massimo Motor, we recognize that our success is intrinsically tied to our retail partners and the communities they serve,” said David Shan, CEO of Massimo Motor. “The customers who shop at Rural King and Tractor Supply demand quality, reliability and affordability, and we are committed to delivering products that exceed those expectations.”

Massimo’s participation in these vendor summits is not only about showcasing its lineup of UTVs, ATVs and outdoor equipment but also about listening and learning. By engaging directly with retail partners, the company gains invaluable insights into customer preferences, emerging market trends and opportunities for improvement. This knowledge enables Massimo to refine its product offerings and ensure its vehicles deliver the durability and performance that rural customers rely on for work and recreation.

The shared customer base between Massimo, Rural King and Tractor Supply represents a segment of consumers who prioritize practicality, value and high-quality equipment. By maintaining a close partnership with these retailers, Massimo reinforces its commitment to providing vehicles that meet the real-world needs of farmers, ranchers and outdoor enthusiasts across the country.

Massimo’s engagement in these events underscores its proactive approach to market expansion and strategic growth. Strengthening partnerships with established retail leaders ensures that Massimo products remain competitive, accessible, and positioned for long-term success.

For more information about Massimo Motor and its latest innovations, please visit www.massimomotor.com or contact our investor relations team at investors@massimomotor.com.

About Massimo Motor Massimo Motor (NASDAQ: MAMO) is a manufacturer of UTVs, ATVs, and outdoor equipment. Headquartered in Texas, the company is dedicated to delivering high-performance, durable, and affordable solutions tailored for rural communities, outdoor enthusiasts, and hardworking individuals across the United States.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to Massimo. All statements other than statements of historical facts contained in this press release, including statements regarding Massimo’s future results of operations and financial position, Massimo’s business strategy, prospective costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated operations of Massimo are forward-looking statements. In some cases, forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “predict,” “project,” “target,” “potential,” “seek,” “will,” “would,” “could,” “should,” “continue,” “contemplate,” “plan,” and other words and terms of similar meaning. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, risks relating to Massimo which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth economically and hire and retain key employees; costs; changes in applicable laws or regulations; the possibility that Massimo may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties, including those under “Risk Factors” in filings with the SEC made by Massimo. Moreover, Massimo operates in very competitive and rapidly changing environments. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Massimo’s control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. No assurance can be given regarding the forward-looking statements, and actual results may differ materially from those as indicated. Massimo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

Company
Dr. Yunhao Chen
Chief Financial Officer
Massimo Group
ir@massimomotor.com

Corporate Communications
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
Editor@InvestorBrandNetwork.com

HUAWEI Mobile Services Signals Strong Commitment to Transforming the Future of Tourism at MWC 2025

BARCELONA, Spain, March 5, 2025 /PRNewswire/ — As China continues to be a major outbound travel market for Spain, adapting to changing consumer preferences is crucial for the tourism industry. In 2025, key trends shaping Chinese tourism include deseasonalisation, where destinations aim to attract visitors during off-peak times, and decentralisation, promoting exploration beyond major cities. Additionally, tourists are seeking longer stays for more immersive cultural and luxury experiences.

Lisardo Morán, CEO of the Public Entity for the Tourism Management and Sports of Andalucía and Wu Hao, VP of Consumer Cloud Service Global Ecosystem Development & Sales, HUAWEI Consumer BG, during the MOU ceremony.
Lisardo Morán, CEO of the Public Entity for the Tourism Management and Sports of Andalucía and Wu Hao, VP of Consumer Cloud Service Global Ecosystem Development & Sales, HUAWEI Consumer BG, during the MOU ceremony.

To tap into this market, HUAWEI Mobile Services, through its Petal Ads platform, offers businesses valuable data-driven insights, helping them understand and engage Chinese tourists by studying their preferences and behaviours in real time.

HUAWEI Mobile Services’ Commitment to Tourism Industry

With the signing of two Memorandum Of Understanding (MOUs) at MWC 2025, HUAWEI Mobile Services has strengthened its presence in the tourism industry in Spain by partnering with the Ministry Of Tourism and Foreign Affairs of the Regional Government of Andalucía and Madrid City Council Tourism, laying the groundwork for innovation and a stronger economic impact for the tourism sector.

“We are excited to join forces with Turismo Andalucía and Madrid City Council Tourism to enhance the premium travel experience in Spain,” said Mr Shan Xuefeng, Management Director of Consumer Cloud Service Europe Ecosystem Development & Sales, HUAWEI Consumer BG. “By combining our expertise in digital solutions with their commitment to tourism development, we look forward to a smarter, more innovative and sustainable tourism ecosystem that will provide Chinese travellers with an unforgettable experience.”

MOU Solidifies Continued Collaboration to Establish Andalucía as a Top European Destination.

This MOU further deepens the partnership between Turismo Andalucía and HUAWEI Mobile Services. Together, they will continue to craft powerful co-marketing initiatives and broaden their partnership efforts in 2025 and beyond.

Arturo Bernal, Minister of Tourism and Foreign Andalusia of the Junta de Andalucía, considered that this collaboration “will contribute to improve our competitive position to face the challenge of the Chinese market,” an issuer in which, due to its size, “our promotion must be based on business intelligence and the search for allies such as Huawei, which represents a brand of great prestige for the Chinese population.”

By embracing marketing advancements, this partnership will harness the power of Huawei’s leading advertising platform, Petal Ads.

HUAWEI Mobile Services and Madrid Partner to Enhance Chinese Travelers’ Experience.

With Chinese tourists representing a rapidly growing segment of Madrid’s inbound travel market, growing by 74.2% in 2024 compared to the previous year this partnership is set to further capitalise on this momentum and transform how Chinese travellers explore Madrid, one of the most attractive destinations in the world.

HUAWEI Mobile Services has signed an MOU with Madrid City Council Tourism to enhance the travel experience for Chinese tourists. The initiative promotes decentralized tourism, encouraging exploration beyond traditional hotspots and supporting off-peak travel to boost sustainability. This aligns with Madrid’s Digital Transformation strategy and commitment to smart, responsible tourism.

“Madrid is embracing the future of travel by integrating cutting-edge digital solutions with sustainable tourism practices,” said Héctor Coronel, Tourism Managing Director of Madrid City Council.

These agreements reflect HUAWEI Mobile Services’ dedication to helping Spain adapt to the evolving demands of Chinese travellers and strengthen its standing as a premier tourist destination.

About HUAWEI Mobile Services (HMS) 

HUAWEI Mobile Services aims to provide a complete mobile experience to users globally. Services include AppGallery, Mobile Cloud, Browser, Assistant, Petal Ads and more. HUAWEI Mobile Services covers 730 million users in over 170 countries, enabling smart living for every Huawei device user. 

For more information, please visit https://consumer.huawei.com/uk/mobileservices/.

Héctor Coronel, Tourism Managing Director of Madrid City Council and Wu Hao, VP of Consumer Cloud Service Global Ecosystem Development & Sales, HUAWEI Consumer BG, During the MOU ceremony.
Héctor Coronel, Tourism Managing Director of Madrid City Council and Wu Hao, VP of Consumer Cloud Service Global Ecosystem Development & Sales, HUAWEI Consumer BG, During the MOU ceremony.

 

Agora Launches Conversational AI Engine for Seamless Voice AI Experiences

The new solution allows developers to use any AI model to create voice agents optimized for
ultra-low latency and natural conversation flow

SANTA CLARA, Calif., March 5, 2025 /PRNewswire/ — Agora, Inc. (NASDAQ: API), a leading platform for real-time engagement APIs, today announced the launch of its Conversational AI Engine, an advanced solution enabling developers to create interactive voice experiences with any AI model. Built for seamless real-time engagement, the engine ensures ultra-low latency responses and superior voice processing, allowing for the effortless creation of immersive voice AI experiences.

Agora’s Conversational AI Engine provides developers with the flexibility to use any AI model, whether custom-built or from leading LLM providers, and any text-to-speech (TTS) voice solution for their AI agent. The Engine is designed to optimize real-time conversation flow. It enables faster, low-latency responses and intelligently pauses for interruptions in real time, enabling more natural dialogue with users.

“Most AI models don’t yet offer the ability to interact via voice, and those that do haven’t optimized the experience,” said Tony Zhao, CEO of Agora. “Agora’s solution will help drive the adoption of conversational AI by enabling seamless, natural voice interactions. With effortless integration and real-time, voice-driven experiences that have near-zero lag, we are removing barriers and unlocking new possibilities for businesses and end users alike.”

With built-in background noise suppression, AI-driven acoustic algorithms, and real-time speech-to-text (STT), Agora’s Conversational AI Engine ensures clear and accurate voice interactions in any environment. Powered by Agora’s global Software-Defined Real-Time Network™, the Engine dynamically handles packet loss and minimizes latency, delivering exceptional performance across devices and networks. The solution is built on top of the TEN framework, an Agora-supported community project for building conversational AI. The Engine allows businesses to deploy natural and engaging real-time voice agents with maximum scalability and minimal effort.

Agora also plans to extend the capabilities of the Conversational AI Engine to its App Builder product, enabling a no-code approach to creating conversational AI experiences. App Builder allows users to create a simple UI and seamlessly integrate Agora’s Conversational AI Engine without extensive coding, making it possible to deploy voice-driven AI experiences even more quickly.

Zhao continued, “Our goal is to bridge the gap between AI and human interaction, making conversations more intuitive, expressive, and impactful. We are dedicated to democratizing voice interactions between humans and AI models, making them a fundamental part of how people connect, communicate, and innovate.”

To further enhance its Conversational AI Engine, Agora is partnering with Oracle as a key AI infrastructure provider, leveraging the scalable Oracle Cloud Infrastructure (OCI) solution to optimize performance, security, and efficiency.

“Agora’s Conversational AI Engine solves two of the biggest hurdles in human-to-AI voice conversation—latency and wireless last mile challenges,” said Hua Jiang, Alliance & Channel Director, Oracle APAC. “We are proud to collaborate with Agora to provide the infrastructure that enables more natural, responsive, and reliable voice-powered conversational AI.”

Agora’s Conversational AI Engine is designed for a wide range of applications, including:

  • 24/7 Customer Support: Create AI-powered voice agents that provide instant responses, troubleshoot issues, and guide customers through processes.
  • IoT Integration: Enable seamless voice control for smart devices, wearables, robots, and connected applications.
  • Virtual Shopping Assistants: Help customers find products, compare options, and make purchasing decisions in real time.
  • Live AI Hosts: Leverage AI agents to host live events, equipped with automated content moderation and the ability to respond to viewers in real time.
  • Mental Health Support: Offer mental health support agents that can listen, provide advice, and connect users with professional help if needed.
  • Live Tutoring: Offer AI tutoring that can speak with students to offer real-time feedback and guidance when learning specific languages or subjects.
  • AI-Powered NPCs in Gaming: Build more immersive virtual worlds with AI-controlled characters that can interact naturally with players via voice.
  • Employee Onboarding: Guide new hires through training and provide instant access to a 24/7 resource to answer questions.

Agora’s Conversational AI Engine is now available in public beta, allowing businesses and developers to start building advanced voice AI applications today. For more information, visit www.agora.io/en/products/conversational-ai-engine/.

About Agora
Agora is the global leader in real-time engagement, providing developers with simple, flexible, and powerful APIs to embed real-time conversational AI, voice, video, interactive live streaming, and chat into their applications and IoT devices. Headquartered in Santa Clara, CA, Agora is trusted by over 1,700 leading organizations across the globe to power best-in-class real-time experiences from social media and live shopping to education and telehealth. For more information about Agora (NASDAQ: API), visit: www.agora.io

Special Integrated Logistics Zone Company (SILZ) Announces Groundbreaking of Lenovo’s New Manufacturing Facility at Riyadh Integrated

RIYADH, Saudi Arabia, March 5, 2025 /PRNewswire/ — The Special Integrated Logistics Zone (SILZ) Company proudly announces the groundbreaking of Lenovo’s new state-of-the-art manufacturing facility at Riyadh Integrated to build millions of Saudi-Made laptops and desktops, as well as servers.

Alat and Lenovo's groundbreaking moment to build a 200,000 sqm facility at Riyadh Integrated, which is operated and developed by the Special Integrated Logistics Zone (SILZ).
Alat and Lenovo’s groundbreaking moment to build a 200,000 sqm facility at Riyadh Integrated, which is operated and developed by the Special Integrated Logistics Zone (SILZ).

The manufacturing facility will be built on a 200,000 square meter site and is strategically located just 15 minutes from King Khalid International Airport within Riyadh Integrated Logistics Zone, the factory will benefit from streamlined logistics, efficient infrastructure, and seamless connectivity, and be closer to customers across the Middle East and North Africa (MENA) region.

This initiative is the result of a strategic collaboration between Alat and Lenovo, an innovative Public Investment Fund company committed to transforming global industries and establishing a world-class manufacturing hub in the Kingdom. Alat’s role as an investment partner highlights its dedication to boosting the capabilities of the technological sector in Saudi Arabia, further contributing to Lenovo’s supply chain excellence, which is ranked #10 globally by Gartner.

Dr. Fadi Al-Buhairan, Chief Executive Officer of SILZ, stated: “Welcoming Lenovo to Riyadh Integrated  solidifies our position as a leading hub for advanced manufacturing and technology in the region. The groundbreaking ceremony, in collaboration with Alat, marks a pivotal moment for Saudi Arabia’s technology sector. Lenovo’s choice to establish its manufacturing base here demonstrates their confidence in Riyadh Integrated world-class infrastructure and strategic location as a gateway to the MENA market. We are confident that this partnership will generate significant employment, stimulate economic growth, and contribute extensively to Saudi Vision 2030’s objectives”.

Scheduled to begin production in 2026, the new facility will complement Lenovo’s global manufacturing network and utilize Riyadh Integrated’s cutting-edge facilities to bring its industry-leading products, services, and solutions to market more swiftly. This collaboration between Alat and Lenovo is expected to create up to 15,000 direct jobs and 45,000 indirect jobs, significantly benefiting the Saudi economy and aligning with the broader initiative to develop a thriving technology ecosystem within the Kingdom.