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U.S. Immigration Fund Welcomes Cindy Lee as Vice President of Business Development, Head of South Korea

PALM BEACH, Fla., May 01, 2025 /PRNewswire/ — U.S. Immigration Fund (USIF), a leading EB-5 Regional Center operator, is proud to announce the addition of Cindy Lee as Vice President of Business Development, Head of South Korea. Based in Seoul, Lee will lead investor relations and business development efforts in South Korea, further strengthening USIF’s presence in the region.

Cindy Lee joins U.S. Immigration Fund as Vice President of Business Development, Head of South Korea
Cindy Lee joins U.S. Immigration Fund as Vice President of Business Development, Head of South Korea

Lee brings extensive experience in international recruitment, consulting, and EB-5 investor relations. Prior to joining USIF, she worked at St. George’s University, specializing in medical and health science admissions, and spent five years managing EB-5 investor relations at an established EB-5 Regional Center. Her background in both education and investment makes her uniquely positioned to guide South Korean investors through the EB-5 process with expertise and care.

“I am thrilled to join U.S. Immigration Fund and contribute to its global success,” said Lee. “South Korean investors are increasingly looking toward the EB-5 program as a pathway to new opportunities in the U.S., and I am excited to help them navigate the process with confidence and clarity.”

“We are excited to welcome Cindy Lee to the USIF team,” said Nicholas Mastroianni, President & Chief Marketing Officer of U.S. Immigration Fund. “Her deep understanding of investor relations and her proven ability to build strong relationships will be instrumental as we continue to expand in South Korea. Cindy’s expertise and leadership will enhance our ability to serve investors and provide them with top-tier EB-5 opportunities.”

Since its founding, USIF has helped thousands of families secure U.S. residency through EB-5 investments, successfully funding large-scale real estate projects with billions in capital. With Lee’s appointment, USIF aims to expand its reach and continue offering premier service to South Korean investors and families.

For more information or to schedule a consultation with Cindy Lee, use the links below.

Book a Consultation with Cindy

Visit our website

 

Appian Congratulates 2025 Partner Award Winners for Delivering Impact with AI and Process Orchestration

SYDNEY, May 1, 2025 /PRNewswire/ — Appian (NASDAQ: APPN) today announced the Partner Award winners at its annual Appian World global conference. This year’s winners have created innovative solutions on the Appian Platform to deliver significant client impact and value.

This year’s winners have created innovative solutions on the Appian Platform to deliver significant client impact and value.
This year’s winners have created innovative solutions on the Appian Platform to deliver significant client impact and value.

“Our 2025 Partner Award winners exemplify the transformative power of the Appian Platform,” said  Christopher O’Connell, Global Leader of Partners & Alliances at Appian. “These organisations are not just implementing technology. They are driving real business outcomes. Our partners are helping clients streamline operations and enhance customer experiences to unlock new levels of innovation with AI across industries. We are incredibly proud of their achievements and the impact they are making for clients around the globe.”

Global Delivery Award: KPMG
Relying on its technology ecosystem, KPMG empowers clients to drive large-scale digital transformation through its deep industry expertise and advanced Appian implementation capabilities. Focused on enhancing customer experience and driving business growth with compliance through operational efficiency, KPMG delivers accelerated outcomes across sectors. KPMG has enabled clients to streamline complex processes with AI and automation on the Appian Platform.

Global Growth Award: Deloitte
Deloitte’s alliance with Appian is driving transformative impact across industries and regions to solve complex challenges in financial services, life sciences, public sector, and more. Fuelled by rapid growth in North America, Europe, and Australia, Deloitte has achieved a 97% increase in Appian-related services revenue since FY22. A 96% year-over-year rise in Appian certifications reflects Deloitte’s investment in talent through its Appian Centre of Excellence and Community of Practise. This growth strategy ensures clients are equipped with cutting-edge technology capabilities like AI and process orchestration to meet evolving market demands.

Americas Delivery Award: Perficient
The global digital consultancy has 40+ global locations with 25 years of industry experience in healthcare, automotive, energy, and manufacturing. Its Appian practise achieved 30% revenue growth and nearly doubled its sales pipeline in 2024, driven by close collaboration with Appian sales teams. The team also expanded its offshore capabilities by over 40%, reinforcing Perficient’s delivery excellence and deepening its global Appian partnership. Perficient played a pivotal role in qualifying inbound leads and supporting key wins, including successful engagements with a prestigious managed health care provider and a health insurance company in the U.S.

Americas Growth Award: PwC
Combining deep industry knowledge with Appian’s delivery expertise, PwC offers a strong Appian Centre of Excellence for global market-leading implementation and innovation. One of PwC’s leading solutions, the Interactions Hub —a SaaS solution built on Appian and managed by PwC—achieved significant growth in 2025. Purpose-built to help improve life sciences companies’ interactions with healthcare providers and organisations, Interactions Hub doubled its client base and user count. This growth was fuelled by the successful launch of seven new Appian Cloud instances for leading pharmaceutical clients. As the only Appian collaborator offering a managed, industry-specific SaaS platform, PwC brings thought leadership and deep life sciences expertise.

Innovation Award
These partners are recognised for outstanding achievement in the development and delivery of innovative Appian-based solutions to meet market needs.

Accenture – Finance and Accounting Transformation
Developed hyperautomation solutions that deliver comprehensive touchless automation across key financial processes like “record to report” and “order to cash” to enhance clients’ productivity, efficiency, and experience, while optimising costs and ensuring Audit compliance. These tailored solutions address specific client needs and can also scale to address growing demands.

Bits In Glass – Reinsurance Underwriting & AI Innovations
Helped a top-10 global reinsurer transform underwriting and claims operations by implementing intelligent automation and case management across geographies. The solution improved speed to resolution, enhanced data-driven decision-making, and positioned the reinsurer for enterprise-wide automation and growth.

EY – Real Estate Portfolio Auctioning Platform
Created a real estate auctioning platform on Appian that supports the process creation, management, and auction closure / results. It provides secure access, confidentiality, and increases asset returns (+20M € over the initial price in 2.5 years), resulting in over 2,100 auctions executed and high client satisfaction.

Impera  – Crypto Core Banking for LATAM
Built a crypto core banking solution for Towerbank to create Latin America’s first crypto-friendly bank. The solution features over 100 digitised processes and has automated 96% of processes to drive significant revenue growth for the bank.

Ignyte – Coordinated Care Solution for SLED
Created a patient-centred care coordination solution on the Appian Platform that unites all members of a healthcare team to help individuals navigate and access health programmes efficiently, modernising how public and private sector organisations support constituent care. The solution offers patients and providers a system of connected care that is accessible, HIPAA compliant, and encourages patient engagement.

Inetum – Digital Framework for Public Sector
A new services framework has been launched on the Appian platform to drive digital efficiency across the Spanish public sector. This no-code, self-provisioning solution enables more than 30 public agencies to configure and manage their own business processes. By automating citizen-facing procedures and internal administrative workflows through case management, the framework reduces processing times by up to two-thirds and significantly extends the scope of services offered.

Groundswell – Integrated Budget Solution for US Federal
Groundswell developed the Groundswell Integrated Budget Suite (GIBS) on the Appian Platform to modernise and streamline the federal budget lifecycle. GIBS offers secured, scalable workflow automation and reporting to improve the accuracy and efficiency of budget management.

Macedon Technologies – No Surprises Act Solution
Delivered significant, measurably successful  customer projects to create value in the last 12 months. The team automated 85% of processing the US No Surprises Act claims to protect patients and is managing over $250 million in disputes for an emergency medical service provider.

Waivgen  – EngaigeQ : AI Builder
Introduced the EngaigeQ : AI Builder framework to help organisations scale their AI adoption with flexible architecture. This capability enables clients to orchestrate AI Agent across multiple sources to efficiently optimise a wide range of work queues. EngaigeQ combines Waivgen’s innovative spirit with Appian’s powerful orchestration capability into a seamless AI Agent experience.

WNS  – Malkom for Shipping
Built on the Appian Platform, Malkom is transforming the shipping industry by integrating systems across the supply chain and automating workflows with data-driven insights. Results include 40-50% reduction in shipment documentation processing time and 50-75% faster booking turnaround, leading to $14 million savings over five years for one customer.

Xebia  – IntelliAgent Generative AI Solution
Integrated with the Appian Platform, IntelliAgent enables business users to deploy AI agents in minutes. Measured impacts include up to a 50% reduction in onboarding time and 20% increase in ticket support. It also provides real-time AI usage monitoring and enterprise-wide agent sharing.

Find an Appian partner to help achieve your vision with AI and process orchestration today: appian.com/partners.

About Appian
Appian is The Process Company. We deliver a software platform that helps organisations run better processes that reduce costs, improve customer experiences, and gain a strategic edge. Committed to client success, we serve many of the world’s largest companies across industries. For more information, visit appian.com. [Nasdaq: APPN]

Follow Appian: LinkedIn, X (Twitter)

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One Platform, Six Schools, Thousands of Students: The Australian Islamic College Partners with IXL to Streamline Personalised Learning

Simplify the system to amplify the learning

PERTH, Australia, May 1, 2025 /PRNewswire/ — Overseeing learning for thousands of students across multiple schools is challenging enough, but it becomes even more complex when teachers and administrators juggle numerous edtech tools. The Australian Islamic College (AIC), one of Australia’s most respected school groups, understood this firsthand.

AIC has six schools across Western and South Australia that educate 5,500 Kindergarten through Year 12 students. Previously, the schools used various edtech products, which made it challenging to oversee results and address issues in real time. AIC needed a more straightforward, unified solution, so it recently partnered with IXL.

IXL provides AIC with one easy-to-use platform where assessments, curriculum and reporting tools work together seamlessly—helping educators maximise learning without needing to manage multiple products.

At the heart of this experience is the IXL Diagnostic. Backed by years of validity research, the diagnostic gives educators a clear, up-to-date picture of each student’s strengths and areas for growth. Once completed, it generates personalised action plans with the precise skills learners need to practise to fill their knowledge gaps—all within the same platform.

After assessing students, AIC educators leverage IXL’s comprehensive P-12 curriculum to tailor support. As students practice maths, English and science skills, questions adjust in difficulty based on their responses so that learners remain appropriately challenged and focused on growth opportunities. Additionally, personalised guidance provides students with custom pathways for growth by generating skill recommendations that help learners make the most progress.

Since all components are connected, AIC administrators can use IXL Analytics to see how each school performs. The District Dashboard feature compares results across all six schools, while the Time Spent report highlights how students in specific schools, courses and year levels use IXL. These findings help administrators make better-informed decisions to meet the unique needs of each campus, teacher and student. IXL Analytics also helps teachers make the most of their limited class time. For example, the Trouble Spots report identifies groups of students with similar difficulties, allowing teachers to differentiate instruction and get learners back on track quickly.

“We hear from schools all over Australia that they’re handling too many edtech tools. It’s expensive, inefficient and pulls teachers away from what really matters—supporting their students,” said Paul Mishkin, CEO of IXL Learning. “IXL provides not just a single, streamlined platform to replace those disparate tools, but also an exceptional experience proven to boost academic achievement and empower teachers.”

More than 150,000 Australian students currently use IXL. The company’s partnership with the Australian Islamic College is part of its larger mission to give educators innovative tools and actionable insights to maximise learning for every single student.

About IXL
Currently used by 17 million students worldwide, IXL is an all-inclusive educational platform that provides a comprehensive P-12 curriculum and instructional resources, actionable analytics and a state-of-the-art assessment suite. Available in over 90 languages, IXL’s end-to-end teaching and learning solution supports personalised instruction in maths, English and science. With more than 160 billion questions asked and answered around the world, IXL is helping schools and parents successfully boost student achievement. The IXL Learning family of products also includes Rosetta Stone, Dictionary.com, Thesaurus.com, TPT, SpanishDictionary.com, inglés.com, FrenchDictionary.com, Wyzant, Vocabulary.com, ABCya, Education.com and Carson Dellosa Education. To learn more about IXL, visit www.ixl.com, facebook.com/IXL and x.com/IXLLearning.

Press Contact
Eric Bates
IXL Learning
press@ixl.com

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Mingteng International Corporation Inc. Announces Financial Results for Fiscal Year 2024

WUXI, China, April 30, 2025 /PRNewswire/ — Mingteng International Corporation Inc. (Nasdaq: MTEN) (the “Company” or “Mingteng International”), an automotive mold developer and supplier in China, today announced its financial results for the fiscal year ended December 31, 2024.

Mr. Yingkai Xu, Chairman and Chief Executive Officer of Mingteng International, remarked, “In fiscal year 2024, we made several strategic decisions, including expanding our production capacity and increasing our workforce, to adapt to evolving market dynamics and rising competition. While these initiatives resulted in higher investments and operating expenses, we achieved solid revenue growth of 23.0%, underscoring the effectiveness of our business strategy and the strength of our long-standing relationships with major customers. Notably, our machining services have become a key growth driver due to prioritized resource allocation. This segment grew by an impressive 327.6% during this year, surpassing our mold repair business to become the second-largest revenue contributor, accounting for the 21.2% of total revenue in fiscal year 2024.

As a result of scaling up our operations, our cost of revenues rose at a faster pace. However, we managed to maintain a healthy gross margin above 30%, despite increased costs and relatively stable selling prices. This demonstrates our ability to sustain profitability while building a strong business foundation for the future growth. Overall, we remained committed to our core strengths in technical expertise, service reputation, and product quality, even in the face of external challenges. The past year was a transformative for Mingteng International, marked by significant expansion, we believe these efforts have laid a robust foundation for long-term, sustainable growth. Backed by the dedication of our team and the successful execution of our strategic initiatives, we are confident in our ability to unlock further development opportunities and elevate our business to the next level with enhanced capabilities and infrastructure.”

Fiscal Year 2024 Financial Summary

Total revenue was $10.12 million in fiscal year 2024, an increase of 23.0% from $8.23 million in the fiscal year 2023.

Gross profit was 3.07 million in fiscal year 2024, compared to $3.32 million in fiscal year 2023.

Gross margin was 30.3% in fiscal year 2024, compared to 40.4% in fiscal year 2023.

Net loss was $5.68 million in fiscal year 2024, compared to net income $1.51 million in fiscal year 2023.

Basic and diluted losses per share were $0.97 in fiscal year 2024, compared to basic and diluted earnings per share $0.30 in fiscal year 2023.

Fiscal Year 2024 Financial Results

Revenues

Total revenue was $10.12 million in fiscal year 2024, an increase of 23.0% from $8.23 million in fiscal year 2023. After consideration of the impact of rising exchange rates, total revenue increased by 24.3% or 14.1 million in RMB base currency.

For the Year Ended December 31,

2024

2023

($ millions)

Revenue

Cost of Revenue

Gross Margin

Revenue

Cost of Revenue

Gross Margin

Mold production

6.87

4.86

29.3 %

6.64

4.20

36.7 %

Mold repair

1.10

0.48

56.5 %

1.08

0.43

60.8 %

Machining services

2.14

1.71

20.1 %

0.50

0.27

45.2 %

Total

10.12

7.05

30.3 %

8.23

4.90

40.4 %

Revenue from mold production was $6.87 million in fiscal year 2024, an increase of 3.5% from $6.64 million in fiscal year 2023. Despite the adverse impact of exchange rate fluctuations, mold production volume and revenues still represented a slight increase, this indicates that Wuxi Mingteng Mould Technology Co., Ltd. (“Wuxi Mingteng Mould”) maintains long-term relationships with major customers and continues to open up the mold market in fiscal year 2025.

Revenue from mold repair was $1.10 million in fiscal year 2024, an increase of 1.7% from $1.08 million in fiscal year 2023.

Revenue from machining services was $2.14 million in fiscal year 2024, an increase of 327.6% from $0.50 million in fiscal year 2023. The increase was mainly attributed to the Company continuing investment in improving the production capacity in the second half of year 2023 and the first half of year 2024. Revenues from machining services gradually serve as a main source of revenue for the Company in the year 2024. Currently, Kehua Holding Co., Ltd. and Suzhou Green Control Transmission Technology Co., Ltd. are our major customers in machine services.

Cost of Revenues

Cost of revenues was $7.05 million in fiscal year 2024, an increase of 43.9% from $4.90 million in fiscal year 2023. The cost of revenues mainly comes from raw material costs, manufacturing costs and labor costs. The revenues had not increased significantly, the reasons that costs growth has far exceed the growth of revenues as follows:

First, in order to promote the future development of machining service and expand production capacity, Wuxi Mingteng Mould hired more production labor in fiscal year 2024, which lead to an increase of $821,025 in labor cost in fiscal year 2023.

Second, in order to pursue the future development of the aluminum alloy pressure casting mold business and machining service and expand production capacity, the total investment of production machinery and equipment was $1,131,506 in fiscal year 2024, an increase from $650,982 in fiscal year 2023, resulting in an increase of depreciation expense which allocated to production costs of $59,817. The depreciation expense increased to $412,992 in fiscal year 2024 compared to $353,175 in fiscal year 2023. In addition, due to the expansion of production scale in fiscal year 2024, the indirect manufacturing costs also increased, such as the low-value consumption materials (mainly metal processing tools) increased by $446,490, amount to $972,225 in fiscal year 2024 from $525,735 in fiscal year 2023, and the charges for water and electricity increased by $106,101, amount to $260,541 in fiscal year 2024 from $154,440 in fiscal year 2023.

Last, due to the expansion of sales, the production orders increased, which means the materials assumptions also increased accordingly, the assumption of materials increased by $572,183, amount to $2,092,519 in fiscal year 2024 from $1,520,336 in fiscal year 2023.

Gross Profit and Gross Margin

Gross profit was $3.07 million in fiscal year 2024, a decrease from $3.32 million in fiscal year 2023. Gross margin was 30.3% for fiscal year 2024, compared to 40.4% in fiscal year 2023. Compared to fiscal year 2023, the labor costs and manufacturing expenses increased more significantly than the cost of raw materials in fiscal year 2024, leading to a relative decline in the proportion of raw materials within the total cost structure.

Gross margins for mold production, mold repair and machining services were 29.3%, 56.5%, and 20.1%, respectively, in fiscal year 2024, compared to 36.7%, 60.8%, and 45.2%, respectively, in fiscal year 2023.

Operating Expenses

Operating expenses were $8.18 million in fiscal year 2024, an increase of 417.4% from $1.58 million in fiscal year 2023.

Selling expenses were $150,418 in fiscal year 2024, a decrease of 1.8% from $153,213 in fiscal year 2023.The selling expenses remain stable.

General and administrative expenses were $7,395,559 in fiscal year 2024, an increase of 827.8% from $797,140 in fiscal year 2023, primarily due to a) share based compensation $4,408,200; b) the increase of consulting fee in fiscal year 2024 by $1,023,451 compared to fiscal year 2023, the Company paid large amount of consulting and professional fees for the Initial Public Offering (“IPO”) in April 2024; and c) due to the number of employees increased, the employee welfare expenses increased by $201,854; d) the increase in personal income tax accrued for stock-based payment of $736,473; e) after the successful listing of the Company, three independent directors were hired, resulting in an increase in salaries of $67,500.

Research and development expenses were $634,046 in fiscal year 2024, an increase of 0.5% from $630,752 in fiscal year 2023. Research and development expenses remain stable with a slight increase.

Net Income (Loss)

Net loss was $5.68 million in fiscal year 2024, compared to net income of $1.51 million in fiscal year 2023.

Basic and Diluted Earnings (Losses) per Share

Basic and diluted losses per share were $0.97 in fiscal year 2024, compared to basic and diluted earnings per share of $0.30 in fiscal year 2023.

Financial Condition

As of December 31, 2024, the Company had cash and cash equivalents of $2.08 million, compared to $1.06 million as of December 31, 2023.

Net cash provided by operating activities was $0.29 million in fiscal year 2024, compared to $1.30 million in fiscal year 2023.

Net cash used in investing activities was $3.43 million in fiscal year 2024, compared to $0.76 million in fiscal year 2023.

Net cash provided by financing activities was $4.15 million in fiscal year 2024, compared to net cash used in financing activities of $1.25 million in fiscal year 2023.

About Mingteng International Corporation Inc.

Based in China, Mingteng International Corporation Inc. is an automotive mold developer and supplier that focuses on molds used in auto parts. The Company provides customers with comprehensive and personalized and integrated mold services, covering mold design and development, mold production, assembly, testing, repair and after-sales service. With its production plant located in Wuxi, China, the Company aims to build a systematic solution for automobile mold services and create a personalized and integrated “Turnkey Project” for customers. The Company’s main products are casting molds for turbocharger systems, braking systems, steering and differential system, and other automotive system parts. The Company also produces molds for new energy electric vehicle motor drive systems, battery pack systems, and engineering hydraulic components, which are widely used in automobile, construction machinery and other manufacturing industries. For more information, please visit the Company’s website: https://ir.wxmtmj.cn/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports its files with the SEC before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

For investor and media inquiries, please contact:

Mingteng International Corporation Inc.
Investor Relations Department
Email: ir@wxmtmj.cn 

Ascent Investor Relations LLC

Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

 MINGTENG INTERNATIONAL CORPORATION INC.

CONSOLIDATED BALANCE SHEETS

As of December 31,

2024

2023

ASSETS

Current Assets

Cash and cash equivalents

$

2,080,715

$

1,056,236

Accounts receivable, net

4,171,809

3,517,632

Other receivables-bank acceptance notes, net

971,044

471,166

Advances to suppliers

122,456

388,110

Other receivables

15,690

12,344

Inventories, net

1,183,572

1,217,045

Contract costs, net

96,656

Total current assets

8,641,942

6,662,533

Non-current Assets

Property and equipment, net

3,857,200

3,335,187

Intangible assets

67,710

Operating lease right-of-use assets, net

38,133

Deferred offering costs

715,771

Long-term investments

1,356,618

Total non-current assets

5,319,661

4,050,958

Total Assets

$

13,961,603

$

10,713,491

LIABILITIES AND EQUITY

Current Liabilities

Short-term loans

$

1,391,130

$

282,378

Accounts payable

1,276,419

1,053,215

Other payables and other current liabilities

1,829,642

1,041,910

Advance from customers

515,650

401,935

Amounts due to related parties

240,166

240,309

Current portion of lease liabilities

13,006

Total current liabilities

5,266,013

3,019,747

Non-current Liabilities

Deferred tax liabilities

221,551

246,893

Non-current portion of lease liabilities

20,408

Total non-current liabilities

241,959

246,893

Total liabilities

5,507,972

3,266,640

Commitments and contingencies

Shareholders’ Equity:

Ordinary shares (Par value US$0.00001 per share, 5,000,000,000 shares authorized,
6,839,600 and 5,000,000 shares issued and outstanding as of December 31, 2024
and 2023)

68

50

Additional paid-in capital

7,620,339

897,308

Statutory reserves

465,572

465,572

Retained earnings

787,211

6,466,293

Accumulated other comprehensive loss

(419,559)

(382,372)

Total shareholders’ equity

8,453,631

7,446,851

Total Liabilities and Shareholders’ Equity

$

13,961,603

$

10,713,491

 

 

MINGTENG INTERNATIONAL CORPORATION INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Years Ended December 31,

2024

2023

2022

Revenues

$

10,120,257

$

8,225,911

$

8,026,764

Cost of revenues

(7,052,835)

(4,902,078)

(4,113,661)

Gross profit

3,067,422

3,323,833

3,913,103

Operating expenses:

Selling expenses

150,418

153,213

132,542

General and administrative expenses

7,395,559

797,140

926,786

Research and development expenses

634,046

630,752

492,526

Total operating expenses

8,180,023

1,581,105

1,551,854

(Loss) income from operations

(5,112,601)

1,742,728

2,361,249

Other income (expenses):

Government subsidies

651,267

129,138

92,832

Interest income

1,226

4,459

2,171

Interest expense

(36,769)

(59,477)

(53,991)

Other-than-temporary impairment

(1,121,382)

Other income, net

19,183

34,440

58,311

Total other income (expenses), net

(486,475)

108,560

99,323

(Loss) income before income taxes

(5,599,076)

1,851,288

2,460,572

Provision for income taxes

(80,006)

(344,586)

(327,384)

Net (loss) income

$

(5,679,082)

$

1,506,702

$

2,133,188

Comprehensive income (loss)

Net (loss) income

$

(5,679,082)

$

1,506,702

$

2,133,188

Foreign currency translation loss

(37,187)

(133,740)

(479,845)

Total comprehensive (loss) income

$

(5,716,269)

$

1,372,962

$

1,653,343

(Losses)/earnings per share

– Basic and diluted

$

(0.97)

$

0.30

$

0.43

Weighted average number of ordinary shares outstanding                   

– Basic and diluted

5,884,590

5,000,000

5,000,000

 

 

MINGTENG INTERNATIONAL CORPORATION INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Years Ended December 31,

2024

2023

2022

Cash flows from operating activities

Net (loss) income

$

(5,679,082)

$

1,506,702

$

2,133,188

Adjustments to reconcile net (loss) income to net cash provided by
operating activities:

Depreciation of property and equipment

515,982

404,881

272,237

Amortization of intangible assets

6,213

Amortization of right-of-use assets

1,031

97,095

158,180

Share-based compensation expenses

4,408,200

Impairment loss on long-term investments

1,121,382

Provision for impairment of inventory

55,510

5,936

Provision for impairment of contract costs

11,827

(Recovery) provision of credit loss

(6,650)

(5,079)

17,606

Deferred income tax

(21,916)

254,224

(4,304)

Loss on disposal of property and equipment

24,905

648

Changes in operating assets and liabilities:

Accounts receivable

(705,865)

(1,129,372)

(489,078)

Other receivables-bank acceptance notes

(511,554)

302,846

(294,440)

Advances to suppliers

196,125

(151,983)

(223,562)

Other receivables

28,631

(35,657)

760,209

Inventories

(39,787)

(180,335)

194,674

Contract costs

(109,388)

Accounts payable

75,993

348,641

224,538

Advances from customers

120,746

343,470

(34,598)

Other payables

7,696

50,474

Payroll payable

134,421

(32,932)

166,388

Taxes payable

662,925

(269,691)

354,593

Amounts due to related parties

3,422

(70,819)

(348,333)

Change in operating lease liabilities

(5,794)

(88,586)

(85,075)

Net cash provided by operating activities

294,973

1,299,989

2,852,697

Cash flows from investing activities

Purchase of property and equipment

(945,918)

(761,792)

(1,439,365)

Purchase of intangible asset

(37,698)

Proceeds from disposal of property and equipment

28,083

6,558

Purchase of long-term investment

(2,478,000)

Net cash used in investing activities

(3,433,533)

(761,792)

(1,432,807)

Cash flows from financing activities

Proceeds from short-term loans

1,404,163

1,419,094

1,709,764

Shareholder contribution

148,675

Dividends

(352,123)

Repayment of short-term loans

(280,833)

(2,483,415)

(966,388)

Proceeds from initial public offering, net

3,293,096

Payments of deferred offering costs

(264,950)

(172,179)

(144,000)

Principal payments under finance lease obligations

(12,488)

(230,372)

Net cash provided by (used in) financing activities

4,151,476

(1,248,988)

165,556

Effect of foreign exchange rate change on cash and cash equivalents

11,563

(26,296)

(99,156)

Net increase (decrease) in cash and cash equivalents

1,024,479

(737,087)

1,486,290

Cash and cash equivalents at the beginning of the year

1,056,236

1,793,323

307,033

Cash and cash equivalents at the end of the year

$

2,080,715

$

1,056,236

$

1,793,323

Supplemental disclosures of cash flow information:

Interest paid

$

36,769

$

59,477

$

101,459

Income taxes paid

$

113,108

$

205,761

$

53,991

Non-cash investing activities:

Right-of-use assets acquired under operating lease

$

39,526

$

$

Liabilities incurred for purchase of property and equipment

$

208,651

$

21,257

$

Liabilities incurred for purchase of intangible assets

$

36,859

$

$

 

Euro Tech Holdings Company Limited Reports 2024 Year-End Results

HONG KONG, May 1, 2025 /PRNewswire/ — Euro Tech Holdings Company Limited (Nasdaq: CLWT) today reported financial results for the 12-month period ended December 31, 2024 (“Fiscal 2024”).

The Company had net income of US$734,000 in Fiscal 2024, as compared to US$1,828,000 for the fiscal year ended December 31, 2023 (“Fiscal 2023”). There was an exceptional increase in equity in income of affiliates in Fiscal 2023 arising from the disposal of 2 desulfurization treatment plants for a “Build-operate-transfer” project, which contributed approximately US$1,450,000 to the Company’s net income of Fiscal 2023.  The Company’s net income had a substantial increase if the non-recurrent profit is excluded.

The Company’s revenues for Fiscal 2024 were US$15,383,000, an approximate 14.3% decrease compared to US$17,940,000 for Fiscal 2023. The decrease in revenue was mainly a result of substantial drop in sales of high value analytical instruments to Hong Kong Government.

Gross profits increased by 15.4% to US$4,454,000 for Fiscal 2024 as compared to approximately US$3,861,000 for Fiscal 2023. The increase was principally due to decrease in sales of high value analytical instruments of lower gross profit % and increase in revenue of Ballast Water Treatment Systems (“BWTS”) of higher gross profit margin.

Selling and administrative expenses slightly decreased by 0.9% to approximately US$4,067,000 for Fiscal 2024 as compared to approximately US$4,103,000 for Fiscal 2023.

Mr. David Leung, CEO of the company commented,

“In 2024, the company’s performance has remained stable despite a challenging economic landscape. We have maintained stable growth overall for BWTS. However, our Wastewater Treatment (“WWT”) business continues to struggle due to the industrial sector being impacted by declines in foreign investment.

Looking ahead, even though economic challenges still exist, we are confident in our ability to develop the company. We see market potential for using mobile port BWT systems and related shore-based water solutions because of certain maritime cities experiencing high traffic congestion and a demand for using port BWT as emergency and rapid solutions. Additionally, more maritime countries will soon launch stricter environmental regulations to protect their coastlines, which will benefit us in promoting clean water solutions, such as ballast water, industrial wastewater and water solutions, etc. Last but not least, we will continue to capture the small and medium-sized ships market for BWTS retrofit at full speed and are planning to engage in direct marketing with shipowners by co-organizing technical seminars with distributors in high-growth shipping regions outside China.

Turning adversity into opportunity is the way forward!”

About BWTS

BWTS are an imminent requirement by The International Maritime Organization (“IMO”) to prevent the biological unbalance caused by the estimated 12 billion tons of ballast water transported across the seas by ocean-going vessels when their ballast water tanks are emptied or refilled. In 2012, ballast water discharge standard became a law in the US. Any vessel constructed in December 2013 or later will need to comply when entering US waters, and existing vessels will follow shortly after. IMO’s Ballast Water Management Convention entered into force for new-built vessels on September 8, 2017 after ratification by 52 States, representing 35.1441% of world merchant shipping tonnage. In July 2017, IMO decided that the phase-in period for ballast water system retrofits started on 8 September 2019. 

The company obtained type approval certificate from China’s Classification Society for its 200, 300, 500, 750, 1200 and 1250 Cubic Meters per hour BWTS in 2016.

The IMO convention stipulates that type approval for revised G8 requirements must be obtained for all BWTS installed on or after October 28, 2020, and the company have been in compliance with such requirements.

Its ballast water port solution, HarborBallast, is a system installed in port to offer ballast water treatment services for ocean-going ships without their own BWTS and for those with damaged BWTS.

Forward Looking Statements

Certain statements in this news release regarding the Company’s expectations, estimates, present view of circumstances or events, and statements containing words such as estimates, anticipates, intends, or expects, or words of similar import, constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements indicate uncertainty and the Company can give no assurance with regard to actual outcomes. Specific risk factors may include, without limitation, having the Company’s offices and operations situated in Hong Kong and China, doing business in China, competing with Chinese manufactured products, competing with the Company’s own suppliers, dependence on vendors, and lack of long term written agreements with suppliers and customers, development of new products, entering new markets, possible downturns in business conditions, increased competition, loss of significant customers, availability of qualified personnel, negotiating definitive agreements, new marketing efforts and the timely development of resources. See the “Risk Factor” discussions in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F for its fiscal year ended December 31, 2024.

 

CONDENSED STATEMENTS OF OPERATIONS

(Dollar amounts in US$ thousands, except share and per share data)

Year Ended December 31,

2024

2023

Revenues

15,383

17,940

Net Income Attributable to the Company

734

1,828

Net Income Per Ordinary Share – Basic

$0.10

$0.24

 

Weighted Average Number of

    Ordinary Shares Outstanding –Basic

 

 

7,716,993

 

 

7,726,118

 

SELECTED BALANCE SHEET DATA

As of December 31,

2024

2023

Cash and Cash Equivalents

5,805

5,453

Total Current Assets

9,229

10,545

Total Assets

20,708

22,120

Total Current Liabilities

4,005

5,596

Total Liabilities

4,014

5,640

Total Euro Tech Shareholders’ Equity             

15,743

15,641

 

GreenTree Filed Annual Report on Form 20-F for Fiscal Year 2024

SHANGHAI, May 1, 2025 /PRNewswire/ — GreenTree Hospitality Group Ltd. (NYSE: GHG) (“GreenTree” or the “Company”), a leading hospitality management group in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission (“SEC”) on April 30, 2025 U.S. Eastern Time.

The annual report can be accessed on the Company’s investor relations website at http://ir.998.com/ as well as the SEC’s website at http://www.sec.gov.

The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Company’s IR Department at ir@998.com.

About GreenTree Hospitality Group Ltd.

GreenTree Hospitality Group Ltd. (“GreenTree” or the “Company”) (NYSE: GHG) is a leading hospitality and restaurant management group in China. As of December 31, 2024, GreenTree had a total number of 4,425 hotels and 182 restaurants. In 2023, HOTELS magazine ranked GreenTree 11th among the 225 largest global hotel groups in terms of number of hotels in its annual HOTELS’ 225. GreenTree was the fourth largest hospitality company in China in 2022 according to the China Hospitality Association. In 2023, GreenTree completed its acquisition of Da Niang Dumplings and Bellagio, two leading restaurant chain businesses in China.

GreenTree has a broad portfolio of diverse brands spanning from the economy to mid-scale, up-scale and luxury segments of the hospitality industry mainly in China. Through its strong membership base, expansive booking network, superior system management with moderate charges, and fully supported by its operating departments including Decoration, Engineering, Purchasing, Operation, IT and Finance, GreenTree aims to keep closer relationships with all of its clients and partners by providing a diverse brand portfolio that features comfort, style and value.

For more information on GreenTree, please visit http://ir.998.com.

Or contact:

GreenTree
Ms. Selina Yang
Phone: +86-158-2166-6251
E-mail: ir@998.com

Mr. Maple Miao
Phone: +86-181-0184-0639
E-mail: ir@998.com

Christensen
In Shanghai
Mr. Jerry Xu
Phone: +86-138-1680-0706
E-mail: jerry.xu@christensencomms.com

In Hong Kong
Ms. Karen Hui
Phone: +852-9266-4140
E-mail: karen.hui@christensencomms.com

In the US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: linda.bergkamp@christensencomms.com

Kaleidescape Announces Distribution for Australia and New Zealand Marine and Superyacht Market

National AV Solutions Becomes Kaleidescape Marine Distributor

MOUNTAIN VIEW, Calif., May 1, 2025 /PRNewswire/ — Kaleidescape, maker of the ultimate movie platform, today announced National AV Solutions as the distributor for Australia and New Zealand’s vibrant marine market, delivering unparalleled entertainment experiences to luxury marine, yacht, and superyacht owners.

As the only digital movie provider with lossless audio and full reference video quality, Kaleidescape ensures yacht owners can enjoy an extensive catalog of 4K and HD titles with unparalleled clarity and performance. The system integrates seamlessly into marine AV and automation solutions, providing access to an extensive library of movies, TV series, and concerts.
As the only digital movie provider with lossless audio and full reference video quality, Kaleidescape ensures yacht owners can enjoy an extensive catalog of 4K and HD titles with unparalleled clarity and performance. The system integrates seamlessly into marine AV and automation solutions, providing access to an extensive library of movies, TV series, and concerts.

“Australia and New Zealand have a thriving yachting community that demands the very best in onboard entertainment,” said Priscilla Morgan, president and chief operating officer, Kaleidescape. “With Kaleidescape, yacht owners and designers can integrate the highest-quality cinematic experience into their vessels, ensuring guests enjoy pristine picture and immersive, lossless audio—no matter where their journey takes them.”

Kaleidescape’s partnership with National AV Solutions, a leading distributor specializing in AV solutions, will bring the company’s high-performance movie platform to luxury yachts across Australia and New Zealand. Partnering with National AV Solutions allows Kaleidescape to reach this discerning market with a premium entertainment solution tailored for the open sea.

“Kaleidescape is a game-changer for onboard entertainment,” said Claver Harper, Director, National AV Solutions. “Superyacht owners and their guests expect the best, and with Kaleidescape, they get a true cinematic experience that is seamless, reliable, and designed for the unique challenges of the marine environment. We are excited to bring this exceptional technology to our customers.”

As the only digital movie provider with lossless audio and full reference video quality, Kaleidescape ensures yacht owners can enjoy an extensive catalog of 4K and HD titles with unparalleled clarity and performance. The system integrates seamlessly into marine AV and automation solutions, providing access to an extensive library of movies, TV series, and concerts.

Australia and New Zealand marine customers will have access to Kaleidescape’s premium product lineup, including the Strato V, Strato C, and Strato M movie players, Terra Prime SSD in 8TB, 31TB and 123TB and the Terra Prime movie servers available in 12TB, 24TB, and 48TB configurations.

With this expansion, Kaleidescape continues to set the standard for high-end entertainment, ensuring that yacht owners can enjoy a world-class movie experience wherever their adventures take them. Customers can explore the full product range through www.nationalavsolutions.com.au with more details on availability and pricing.

About Kaleidescape (www.Kaleidescape.com)  

Kaleidescape is the ultimate movie platform. Kaleidescape has been designing, manufacturing, and selling state-of-the-art movie players and servers for over 20 years. Kaleidescape digitally delivers movies with lossless audio and reference video. Headquartered in Silicon Valley, Kaleidescape products are assembled in the USA.

Media Contact:
Kaleidescape, Inc.
Josh Gershman
Josh.Gershman@kaleidescape.com

Photo – https://laotiantimes.com/wp-content/uploads/2025/05/kaleidescape.jpg

Logo – https://laotiantimes.com/wp-content/uploads/2025/05/kaleidescape_logo.jpg

Natus announces integration of InVisus Pro NMUS into Natus Elite software

MIDDLETON, Wis., May 1, 2025 /PRNewswire/ — Natus Medical Incorporated has announced its InVisus Pro Neuromuscular Ultrasound system can now be seamlessly integrated with all Natus EMG systems via Natus Elite Software, providing users of the portable, stand-alone neuromuscular ultrasound with the same comfort, confidence, and quickness expected from the world’s most reliable EMG application.

The neuromuscular ultrasound (NMUS) option delivered by the latest upgrade to Natus Elite, long considered the gold standard in EMG, expands confidence for healthcare providers using InVisus Pro to confirm and localize pathology. NMUS Integration with one-click reporting also allows clinicians to easily manage the full patient journey.

“The portability, versatility, and high image quality of InVisus makes it perfect as a point-of-care diagnostic tool,” said Dr. Sanjeev Nandedkar, Natus Senior Consultant. “The integration of InVisus with the familiar environment of Natus Elite software allows seamless use with NCS/EMG testing in routine electrodiagnostic laboratories. The workflow is not altered, and a single report with all test modalities is generated. It also provides additional features such as comparison of results across test modalities and ‘on-screen’ comparisons with previous investigations. The net result is a better efficiency and better patient care.”

Combining InVisus Pro with Natus Elite makes it simple for doctors and clinicians to compare current and past exams to gain deeper insights. This includes side-by-side, real-time analysis of NMUS and nerve conduction studies (NCS).

Just as doctors benefit from the ability to make quick decisions based on more information, patients find parallel advantages of comfort with a non-invasive testing option and improved patient experience.

ABOUT NATUS 

Natus is trusted by healthcare providers around the globe as the solution source to screen, diagnose, and treat disorders affecting the brain and neural pathways. The best-in-class Natus solutions, including service, field support and education, enable clinicians to advance their standard of care, improving patient outcomes and quality of life. For more information on Natus, please visit www.natus.com/neuro.

CONTACT INFORMATION:
Lisa Schuler
Phone: +1 612 528-1332
Email: lisa.schuler@natus.com

The InVisus Pro Neuromuscular Ultrasound system can now be seamlessly integrated with all Natus EMG systems via Natus Elite Software, providing users of the portable, stand-alone neuromuscular ultrasound with the same comfort, confidence, and quickness expected from the world’s most reliable EMG application.
The InVisus Pro Neuromuscular Ultrasound system can now be seamlessly integrated with all Natus EMG systems via Natus Elite Software, providing users of the portable, stand-alone neuromuscular ultrasound with the same comfort, confidence, and quickness expected from the world’s most reliable EMG application.

 

Combining InVisus Pro with Natus Elite makes it simple for doctors and clinicians to compare current and past exams to gain deeper insights. This includes side-by-side, real-time analysis of NMUS and nerve conduction studies (NCS). Infographic: NMUS Integration workflow and Insight NCS
Combining InVisus Pro with Natus Elite makes it simple for doctors and clinicians to compare current and past exams to gain deeper insights. This includes side-by-side, real-time analysis of NMUS and nerve conduction studies (NCS). Infographic: NMUS Integration workflow and Insight NCS

 

Video – https://mma.prnewswire.com/media/2677187/InVisus_Pro_Integration_Press_Release_Quote_Sanjeev_Nandedkar.mp4