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Acclime establishes fund services offering with Rockburgh acquisition

HONG KONG, Feb. 20, 2025 /PRNewswire/ — Acclime, a leading provider of corporate, governance, and advisory services across Asia and key global markets, has established its fund services offering with the acquisition of Rockburgh Fund Services in New Zealand.

Acclime provides a comprehensive range of international and on-the-ground services in New Zealand, including virtual CFO, domestic and international tax, inbound and outbound investment structuring, and a full range of compliance and governance services to private investors, family offices, investment funds, and corporate groups.

Rockburgh Fund Services provides fund establishment, fund administration, fund M&A, fund turnaround, and fund tax advisory services plus a full range of private client services to founders. Rockburgh Fund Services help investment managers communicate complex financial data to investors with clarity and simplicity.   

The combination of Acclime New Zealand and Rockburgh Fund Services enables Acclime to provide a comprehensive and unique service offering to managed funds in New Zealand and through-out Asia Pacific. Supporting clients at every stage of growth, Acclime now provides a full “regulatory roof” to investment managers, giving them the freedom and flexibility to focus on executing their investment mandates, whilst knowing that all accounting, taxation, regulatory, registry and administration functions are professionally managed by Acclime.

Izzy Silva, CEO of Acclime, commented “As Acclime expands into more technically demanding service offerings such as fund services, the acquisition and integration of Rockburgh Fund Services marks an important milestone in our growth journey.”

Acclime’s Regional Managing Director for Australia and New Zealand, Randolph van der Burgh, added: “The acquisition of Rockburgh Fund Services enhances Acclime’s ability to support clients with fund establishment, investor onboarding, investment reporting and automated investor reporting in New Zealand and beyond. Other additions to the Acclime platform are in progress which will reinforce our position as a trusted partner for outsourced fund administration services throughout the region.”

The acquisition of Rockburgh Fund Services aligns with Acclime’s strategic roadmap to expand its fund services offering in the important financial hubs in the Asia Pacific region. As demand for comprehensive fund administration solutions continues to grow, Acclime is focused on strengthening its expertise and capabilities to provide comprehensive support to its growing roster of institutional fund clients at the fund level as well as at the underlying portfolio level.

About Acclime

Acclime provides businesses with corporate, governance, and advisory services. It operates in 14 countries, employing over 1,500 dedicated professionals. The firm provides a comprehensive range of professional services and business advisory to help businesses navigate complex regulatory environments and achieve their goals at all stages of the business life-cycle.

About Rockburgh Fund Services

Rockburgh Fund Services comprises a team of specialists with in-depth experience in domestic and international fund establishment and fund administration in New Zealand. Rockburgh Fund Services provides cost-effective, tailored solutions for all fund establishment, back-office outsourcing and advisory requirements.

Tenchijin – Japan’s Leading Satellite Tech Company to Develop its own Satellite and Launch in 2027

“Thermo Earth of Love Project” to Enhance Surface Temperature Observation and Advance its Solutions Further


TOKYO, JAPAN – Media OutReach Newswire – 20 February 2025 – On January 27, 2025, Tenchijin announced the launch of “Thermo Earth of Love Project,” a proprietary satellite program aimed at enhancing surface temperature monitoring capabilities. The company’s satellite is scheduled for launch in 2027.

Thermo Earth of Love Project - LST Observation Satellite
Thermo Earth of Love Project – LST Observation Satellite

has been utilizing satellite data to tackle various societal challenges, including climate change mitigation, aging infrastructure, and urban planning. Among the extensive range of satellite data, Tenchijin places particular importance on surface temperature data.

Surface temperature has been one of the key satellite data types Tenchijin has worked with since its founding. As Tenchijin has collaborated with stakeholders such as agricultural producers, local governments, and water utilities to address their challenges, it has recognized the growing importance of this data. In recent years, with increasingly severe summer heatwaves, knowing not only air temperature but also ground heat level has become even more critical. Tenchijin believes that surface temperature data is essential for understanding the impacts of climate change, assessing disaster risks, and developing effective countermeasures.

It is this belief in the potential of surface temperature data that led the company to take the significant step of developing its own satellite. The project name “Thermo Earth of Love Project” symbolizes both the warmth of Earth that surface temperature data reveals (Thermo Earth) and Tenchijin’s love and dedication to the planet (Love).

Continuous observation and analysis of surface temperature from space allow us to reexamine the relationship between Earth and humanity from the ground up. By making surface temperature data a standard part of society and transforming it into solutions that enhance people’s lives with greater safety and security, Tenchijin aims to contribute to a better future for the next generation.

The Value of Surface Temperature Data
Overlaying Multiple Datasets

Tenchijin does not view satellite data as a single-use resource but rather as part of a comprehensive big data approach. Tenchijin employs a unique method, uncommon in the space industry, by overlaying different satellite datasets and combining satellite data with ground-based data (such as sensor data, statistical data, and GIS data).

Key Satellite Data Handled by Tenchijin

Satellite Imagery
When people think of satellite data, satellite imagery (visible images) is often what comes to mind. Many private companies, both in Japan and abroad, provide satellite imagery. At Tenchijin, these images are used to monitor natural changes, detect urban development, and identify structures and other features.

SAR Imagery
Satellite imagery can also capture information that is invisible to the human eye. One example is Synthetic Aperture Radar (SAR) imagery, which has recently gained attention. While SAR satellites like Japan Aerospace Exploration Agency (JAXA)’s advanced radar satellite “Daichi-4” (ALOS-4) have traditionally been developed under government initiatives, private companies have also started entering the field. Tenchijin uses SAR data to analyze ground deformation and related phenomena.

Surface Temperature
Surface temperature refers to the temperature of the ground itself. Unlike air temperature, which measures the temperature of the atmosphere, surface temperature indicates how hot or cold the ground is.

Surface temperature is a specialized dataset collected by various national satellites, including those from the Japan Meteorological Agency, JAXA, and NASA. Traditionally, this data has primarily been used by scientists and researchers.

However, since its founding, Tenchijin has been applying surface temperature data to business use cases. The reason why this data had not been widely adopted in business before lies in its complexity and the rarity of overlaying multiple satellite datasets.

Why has Tenchijin been able to leverage this data?

The answer lies in the company’s name. The name “Tenchijin” embodies its core mission:

“Ten” (Sky): utilizing satellite data from space

“Chi” (Earth): integrating ground-based data

“Jin” (People): enhancing people’s lives and activities through data

Because Tenchijin was founded with a vision of integrating multiple data sources, the company was able to quickly realize the potential of surface temperature data.

Surface temperature plays a crucial role in Tenchijin’s existing services, such as evaluating the risk of infrastructure deterioration, selecting optimal locations for renewable energy, and assessing suitable areas for agriculture adapted to climate change.

Recognizing the value of surface temperature data early on, Tenchijin has been conducting research and development to create proprietary high-frequency, high-resolution surface temperature information. This involves integrating data from JAXA’s GCOM-C satellite, the Himawari weather satellite, and various international satellites.

We are currently utilizing this technology in the free-to-use WebGIS service called “Tenchijin COMPASS” and in the water utility DX service for local governments and water service providers, known as “Tenchijin COMPASS KnoWaterLeak.”

What is “Thermo Earth of Love Project”?

The “Thermo Earth of Love Project” is an initiative by Tenchijin, a company that has long believed in the potential of surface temperature data. Through the development of its own satellite, this project aims to enhance surface temperature observation, with a satellite launch planned for 2027.

Starting in 2027, expanded coverage and higher resolution surface temperature data will significantly advance our solutions. We envision specific applications in the following areas:

Enhancements in Water Infrastructure Management
High-resolution, high-frequency surface temperature data will enable more advanced maintenance and management of water infrastructure. This includes improving leak detection accuracy, providing near-real-time monitoring for rapid response, and enabling the prediction and preventive maintenance of water pipes. Additionally, this data will be utilized to assess damage from earthquakes and volcanic eruptions, contributing to urban planning and disaster management efforts.

Precision Agriculture
By leveraging more detailed surface temperature data, we can enable precise monitoring of crop growth conditions, early detection of pests and diseases, and optimal selection of crop varieties. Near-real-time analysis of climate change and soil temperature variations will enhance the accuracy of harvest planning, supporting the development of sustainable agricultural models.

“Thermo Earth of Love Project” represents a bold step for Tenchijin, a startup that has previously deployed satellite data-driven solutions, as it now ventures into the domain of space hardware development.

In the space hardware sector, business models have traditionally been hardware-driven, where companies develop their own satellites and sell the resulting observation data. However, Tenchijin’s solution-driven vertical integration approach is a rare and pioneering initiative, even on a global scale.

Tenchijin’s strength lies in knowing the data required through real-world business applications. By identifying data that can effectively address societal challenges, Tenchijin believes it can fully unlock its value.

Surface temperature data, in particular, is a specialized form of information monitored by government satellites, such as those from the Japan Meteorological Agency, JAXA, and NASA. This is precisely why it is significant for not only government agencies but also private companies to possess and utilize this data, broadening its potential applications.

Tenchijin is guided by its mission of “optimizing human civilization through space big data” and its core values of “thinking from a space perspective” and “engaging in activities beneficial to Earth.” “Thermo Earth of Love Project” is a major step toward achieving these high aspirations.

The satellite data capturing Earth’s state holds limitless possibilities. “Thermo Earth of Love Project” expresses both the warmth of surface temperature and a deep love for the planet.

Tenchijin firmly believes that surface temperature data is an invaluable resource for humanity. Tenchijin sincerely hopes you will follow and support the challenges it faces in “Thermo Earth of Love Project.”
Hashtag: #Tenchijin #Space #SatelliteTechnology #SurfaceTemperature




The issuer is solely responsible for the content of this announcement.

Tenchijin, Inc.

E-Mail: (person in charge of communication: Keisuke Sunagare)

Address: Room 3, Ground Floor, Block 2330, Century Square, Jalan Usahawan, Off, Persiaran Multimedia, 63000, Cyberjaya, Selangor, Malaysia
Representative: Yasuhito Sakuraba, CEO
Business content: land evaluation consulting using satellite data
Business activities: Land valuation consultancy, service development and operation using satellite data
Main clients
Water: Tokyo city, Aomori city, Fukushima city
Agriculture: Shinmei Corporation, Seiwa Corporation
Telecommunication: Nippon Telegraph and Telephone East Corporation
We welcome any inquiries from companies in the water-related business sector. (Contact email: asia-t@tenchijin.co.jp, Person in charge: Keitaro Asaba)

China’s Bakery and Confectionery Market Insights Seminar Makes Successful Debut in Osaka, Japan

OSAKA, Japan, Feb. 20, 2025 /PRNewswire/ — The first-ever China Bakery and Confectionery Market Insights Seminar convened in Osaka, marking a notable milestone as the event made its debut in Japan. Organized by China Association of Bakery and Confectionery Industry (CABCI) and Bakery China Exhibitions Co., Ltd., the seminar brought together prominent industry leaders from China and Japan to foster dialogue, explore market opportunities, and deepen bilateral collaboration in the bakery and confectionery sectors.

The event opened with remarks from Zhang Jiukui, President of CABCI, who underscored the growing interconnectivity and cooperation between the bakery and confectionery industries of China and Japan. He reiterated China’s commitment to maintaining an open and inclusive market, inviting Japanese and global industry peers to capitalize on emerging opportunities and contribute to the sector’s sustainable development.

Hidehiro Kajiwara, Chairman of the Japan Bakery and confectionery Machinery Manufacturers’ Association, reflected on decades of bilateral collaboration. He emphasized the enduring partnership between the two nations’ industry associations and trade fairs, expressing optimism for the future.

“For over 20 years, our industries have maintained strong exchanges and close cooperation. We look forward to continuing our joint efforts to promote the sustainable growth of the bakery and confectionery sectors in both Japan and China,” Mr. Kajiwara stated.

The seminar also featured an in-depth market analysis from Lin Li, Assistant to the President of CABCI and Managing Director of Bakery China Exhibitions Co., Ltd.. Addressing an audience of over 40 senior executives from leading Japanese companies, Ms. Lin provided a detailed overview of China’s bakery and confectionery market, underscoring its vast scale, growth potential, and shifting consumer trends. Japanese industry representatives voiced confidence in the long-term potential of the Chinese market and reaffirmed their commitment to deepening engagement and expanding business collaborations.

A key highlight of the event was the presentation of the 27th Bakery China 2025 by Jiang Li, from International Sales and Marketing for the exhibition. Scheduled to take place from May 19 to May 22, 2025, at the National Exhibition and Convention Center (NECC) in Shanghai, the event is set to be the world’s largest professional trade fair for the bakery and confectionery industries.

The 330,000-square meters Bakery China 2025 will host over 2,200 exhibitors from more than 30 countries and regions, alongside an estimated 400,000 professional visits from over 100 countries.

As the industry’s premier networking and trade platform, Bakery China 2025 (www.bakerychina.com) invites industry professionals from Japan and beyond to join this landmark event, explore unparalleled business opportunities, and help shape the future of the global bakery and confectionery market.

CapitaLand Investment expands private credit fund business to South Korea with the close of maiden KRW 180 billion fund

  • Forms strategic partnership with Korea Investment & Securities, signifying ambition to further grow CLI’s private credit portfolio in South Korea
  • Deploys KRW 40 billion loan for a data centre development in Guro, Seoul

SEOUL, South Korea, Feb. 20, 2025 /PRNewswire/ — CapitaLand Investment Limited (CLI), a leading global real asset manager, has closed its first South Korea private credit fund with a total equity commitment of KRW 180 billion[1] (S$169.2 million[2]), increasing its funds under management in its focus market of South Korea to S$3.1 billion. The CapitaLand Korea Investment No. 1 Private Equity Fund (PEF) will invest in construction, asset-backed or mortgage loans for diversified asset classes such as data centre, lodging, office or residential in gateway cities in South Korea.

CapitaLand Investment's PEF has deployed a KRW 40 billion loan for the development of a data centre (pictured) in Guro, Seoul. With positive demand-supply dynamics and 30 megawatts of power secured, the data centre is well-positioned to capture demand when completed in 3Q 2028.
CapitaLand Investment’s PEF has deployed a KRW 40 billion loan for the development of a data centre (pictured) in Guro, Seoul. With positive demand-supply dynamics and 30 megawatts of power secured, the data centre is well-positioned to capture demand when completed in 3Q 2028.

CLI has formed a strategic partnership with Korea Investment & Securities (KIS), a subsidiary of a major financial conglomerate Korea Investment Holdings, to jointly manage PEF as co-general partners. CLI holds an 11% sponsor stake in PEF, which is in line with its asset-light strategy to grow its funds under management while keeping strong alignment with investors.

PEF has deployed a KRW 40 billion loan for the development of a data centre in Guro, Seoul to Gaebong PFV, a special purpose vehicle incorporated in South Korea to develop and manage the property. The Guro district is a key data centre cluster in the west of Seoul, five kilometres from Yeouido Business District. The cluster hosts several leading cloud companies as well as IT and financial companies. With positive demand-supply dynamics and 30 megawatts of power secured, the data centre is well-positioned to capture demand when completed in 3Q 2028. SK Ecoplant, which has a credit rating of A-, will deliver the project and provide completion guarantee. SK Ecoplant is the construction and engineering arm of SK Group – one of the largest conglomerates in South Korea. KT Cloud Corp., a subsidiary of South Korea’s telecommunications giant KT Corp, will lease and operate the data centre.

Mr Matthew Sohn, CLI’s Chief Executive Officer for Korea, said: “The strong institutional participation in PEF is testament to the network and trust CLI has built over more than 20 years of operating in the country. Leveraging CLI’s deep understanding of South Korea’s real estate investment landscape across multiple asset classes, we are able to expand our suite of fund products and identify suitable investment opportunities to meet investors’ demand.” 

“CLI has been fast-tracking its growth in private credit and its entry into South Korea’s private credit segment is in line its investment strategy that focuses on the theme of ‘Disruption’. Despite the gradual decline in interest rates, South Korean banks have been reducing their proportion of real estate loans in their portfolio[3]. As traditional lenders in South Korea become increasingly conservative, the widening funding gap creates opportunities for private lenders. Through our strategic partnership with KIS, the combination of our deal-sourcing, fund management and private credit expertise will position PEF for success. We see strong potential to scale our private credit portfolio in South Korea and remain committed to delivering long-term value for our capital partners,” added Mr Sohn.

CLI’s expansion in private credit

The launch of PEF in South Korea follows CLI’s announcement in December 2024 to acquire[4] Wingate for A$200 million[5]  (KRW 182.6 billion[6]). Wingate is one of Australia’s leading and largest private credit investment managers. With the addition of Wingate, CLI will expand its private credit business and its portfolio in Australia. Wingate will also enlarge CLI’s extensive proprietary deal origination networks and enhance its access to more institutional and private high net worth investors. 

In November 2024, CLI also announced the close of its Australia Credit Program (ACP). Conceived and originated in partnership with Wingate, ACP is CLI’s A$265 million (KRW 241.9 billion[6]) maiden credit fund. 

Growing CLI’s presence in South Korea

With the addition of PEF, CLI manages 16 private funds in South Korea. In August 2024, CLI closed a value-add office blind pool fund in South Korea with total equity commitment of KRW 200 billion (S$188 million[2]). The private fund is a strategic partnership with KB Bank, an affiliate of the country’s largest financial group, KB Financial Group. In September 2023, CLI’s flagship regional core-plus fund, CapitaLand Open End Real Estate Fund, acquired a newly completed, high specifications logistics property Anseong Seongeun Logistics Centre for S$112 million (KRW 119.1 billion[7]).

CLI’s diversified portfolio in South Korea comprises offices, logistics facilities, lodging properties, self-storage and data centres[8]. CLI has nine serviced residences and hotels, with more than 2,400 units in Seoul, Busan, Cheongju, Incheon and Jeju, through its wholly owned lodging business unit, The Ascott Limited and its lodging trust, CapitaLand Ascott Trust.

About CapitaLand Investment Limited (www.capitalandinvest.com) 

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real asset manager with a strong Asia foothold. As at 30 September 2024, CLI had S$134 billion of assets under management, as well as S$102 billion of funds under management held via six listed real estate investment trusts and business trusts and a suite of private real asset vehicles that invest in thematic and tactical strategies. Its diversified real estate asset classes include retail, office, lodging, industrial, logistics, business parks, wellness, self-storage, data centres, private credit and special opportunities.

CLI aims to scale its fund management, lodging management and commercial management businesses globally and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand’s development arm.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for Scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

Follow @CapitaLand on social media

LinkedIn: linkedin.com/company/capitaland-limited
Facebook: @capitaland / facebook.com/capitaland
Instagram: @capitaland / instagram.com/capitaland
X: @CapitaLand / x.com/CapitaLand
YouTube: youtube.com/capitaland  

 

Important Notice

This announcement and the information contained herein does not constitute and is not intended to constitute an offering of any investment product to, or solicitation of, investors in any jurisdiction where such offering or solicitation would not be permitted.

 

[1] Includes CLI’s equity contribution.

[2] Based on the exchange rate of KRW 1 to S$0.000940 unless stated otherwise.

[3] Source: CBRE Korea’s 2024 Korea Investor Intentions Survey.

[4] Plus an earn-out that is based on certain performance hurdles over a three-year period post completion of the transaction.

[5] Subject to completion adjustments.

[6] Based on the exchange rate of A$1 to KRW 912.925532 unless stated otherwise.

[7] Based on the exchange rate of S$1 to KRW 1,063.829790 unless stated otherwise.

[8] Including assets under development.

 

Eason Technology Limited Announces Acquisition of Blockchain Technology Company

HONG KONG, Feb. 20, 2025 /PRNewswire/ — Eason Technology Limited (“Eason” or the “Company”) (NYSE American: DXF), a company engaged in real estate operation management and investment, and digital technology security business, today announced that it has acquired Hongkong Starlux Intelligent Technology, a blockchain technology company focused on blockchain security and the application of blockchain technology.Terms of the transaction were not disclosed.

Eason’s CEO Stanley commented, “After hard work, Company successfully returned to the main board market from the pink market.At the same time, the company achieved operational results in digital technology and real estate operations, it is a successful strategic transformation. The real estate operation business provides a stable cash flow for the company, and also provides industrial application scenarios for the digital technology business, including industrial manufacturing, medical treatment, media content production, and cross-border e-commerce. The acquisition will strengthen the company’s science and technology research and development team, accelerate the company’s blockchain product development and commercialization process, and the company plans to complete the development and release of the first blockchain product in Q2 of 2025.”

About Eason Technology Limited

Eason Technology Limited is a company engaged in real estate operation management and investment and digital technology security business in Hong Kong, China.

Safe Harbor Statement

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company’s filings with the Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

WiMi Develops Holographic Quantum Algorithm Technology for Efficient Simulation of Related Spin Systems

BEIJING, Feb. 20, 2025 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WiMi) (“WiMi” or the “Company”), a leading global Hologram Augmented Reality (“AR”) Technology provider, today announced the development of an innovative “holographic” quantum algorithm for simulating highly correlated spin systems. This technology enables efficient ground state preparation and dynamic evolution, while significantly reducing the demand for quantum bit resources.

The ground state and dynamic evolution of spin systems are core areas of research in quantum physics and material science. However, simulating highly entangled quantum states often requires a large number of quantum bit resources. In particular, for two-dimensional and three-dimensional systems, traditional quantum simulation methods demand an exponentially growing number of quantum bits, posing a significant challenge to existing quantum computing hardware. How to effectively simulate these complex systems under the constraint of a limited number of quantum bits has become a pressing problem in the field of quantum computing.

The holographic quantum algorithm developed by WiMi is based on the equivalence between matrix product states (MPS) and quantum channels. Through partial measurements and quantum bit reuse techniques, it significantly reduces the number of quantum bits required. This algorithm incorporates the following key innovations:

Quantum Bit Reuse Strategy: By utilizing the compact representation of matrix product states (MPS), the D-dimensional spin system is mapped to a quantum computing architecture that only requires a subset of (D-1) quantum bits and an auxiliary quantum bit register. This approach ensures that the number of quantum bits required grows logarithmically with the increase in the entanglement of the simulated state, rather than growing non-linearly or exponentially.

Holographic Variational Quantum Eigensolver (holoVQE): The holographic variational method directly prepares the system’s ground state from the known MPS representation or uses holoVQE to optimize the ground state energy. This method combines the advantages of quantum computing and classical optimization, enabling precise determination of the ground state energy for infinite-chain systems.

Efficient Time Evolution Implementation: By introducing additional overhead in the quantum channel, the algorithm can simulate the MPS dynamics under the action of a local Hamiltonian within time t. This mechanism provides a powerful tool for studying thermalization dynamics with rapid entanglement growth.

Resource Efficiency and Hardware Implementation: When implemented on actual hardware, the holographic quantum algorithm requires only a minimal number of quantum bits to simulate complex systems with exponentially large bond dimensions. Specifically, on ion-trap quantum computers, WiMi successfully simulated the antiferromagnetic Heisenberg chain and achieved precise calculation of the infinite-chain ground state energy using only two pairs of quantum bits.

WiMi’s technology leverages the equivalence between matrix product states (MPS) and quantum channels. MPS is a classical method for compactly representing highly entangled quantum states by decomposing a global quantum state into a series of low-rank tensor products. The holographic quantum algorithm utilizes this feature by decomposing the simulation target into a series of local operations, making the required number of quantum bits proportional to the logarithm of the entanglement entropy.

Among these, partial measurements and quantum bit reuse involve performing partial measurements on subsystems and reusing the measured quantum bits. This approach significantly conserves quantum resources while maintaining the system’s entanglement structure. The specific operations include: applying local Hamiltonian operations to the target spin system; measuring a subset of quantum bits and recording the measurement results; updating the quantum state of the remaining system based on the measurement results and recycling the released quantum bits.

The core of the Holographic Variational Quantum Eigensolver (holoVQE) algorithm is to transform the ground state energy problem into a variational optimization problem. The specific steps include: initializing the quantum state as a random matrix product state; applying a parameterized quantum circuit and using a classical optimizer to update the parameters; and iteratively minimizing the expected energy value to eventually approach the ground state energy.

By decomposing the evolution operations in the quantum channel, the time evolution operation is implemented as a superposition of a series of local Hamiltonian actions. The algorithm further utilizes time-step iteration and Trotter decomposition to improve computational efficiency and accuracy.

The development and validation of WiMi’s holographic quantum algorithm open new possibilities for quantum computing technology. It not only significantly reduces the resources required to simulate complex quantum systems, but also provides an effective tool for exploring highly entangled quantum states and rapid entanglement growth phenomena. With this technology, researchers can efficiently study problems such as the ground states of two-dimensional and three-dimensional spin systems, as well as complex dynamic evolution, even under limited hardware conditions.

In the future, the optimization potential of this technology remains immense. The research team plans to expand the scope of the holographic quantum algorithm and develop more advanced variational quantum eigensolver methods to further enhance precision and efficiency. Additionally, this technology can explore more application possibilities in practical scenarios by integrating with new types of quantum hardware.

With the rapid development of quantum computing, WiMi’s holographic quantum algorithm will undoubtedly become an important milestone in advancing quantum science and technology. It not only demonstrates an innovative path for quantum algorithm design but also lays a solid foundation for the widespread adoption and application of quantum computing.

About WiMi Hologram Cloud

WiMi Hologram Cloud, Inc. (NASDAQ:WiMi) is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.

Safe Harbor Statements

This press release contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release and the Company’s strategic and operational plans contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the US Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases, and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition, and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services.

Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and the current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement except as required under applicable laws.

 

Aramco plans to enter Philippines retail market with agreement to acquire 25% stake in Unioil

  • Aramco to extend brand, retail offerings and Valvoline-branded lubricants to select retail stations in the Philippines
  • Transaction represents further progress in the strategic expansion of Aramco’s global retail network in high-value markets

DHAHRAN, Saudi Arabia, Feb. 19, 2025 /PRNewswire/ — Aramco, one of the world’s leading integrated energy and chemicals companies, today signed definitive agreements to acquire a 25% equity stake in Unioil Petroleum Philippines, one of the largest petroleum companies in the Philippines.

The planned acquisition, which is subject to customary closing conditions including regulatory approvals, aims to capitalize on anticipated growth of the high-value fuels market in the Philippines. It represents further progress in Aramco’s strategic downstream expansion and growth of its global retail network, which aims to secure additional outlets for its refined products.

Yasser Mufti, Aramco Executive Vice President of Products & Customers, said: “This investment represents another step forward in our global strategy to expand Aramco’s retail network, and we look forward to introducing Aramco’s high-quality products and services to customers in the Philippines. Our international expansion aims to capture additional value and enhance our participation in vibrant economies, in collaboration with established partners. We are delighted to embark on the next stage of this journey with Unioil, a dynamic player in the fast-growing Philippines fuels market.”

Unioil, a diversified downstream fuels operator established in 1966, is one of the fastest growing retail, wholesale and storage companies in the Philippines, with a network of 165 retail stations and four storage terminals in the country.

The announcement follows Aramco’s previous retail acquisitions in Chile and Pakistan. Upon completion, Aramco intends to extend its brand, competitive retail offerings and Valvoline-branded lubricants to select retail stations in the Philippines.

About Aramco
As one of the world’s leading integrated energy and chemicals companies, our global team is dedicated to creating impact in all that we do, from providing crucial oil supplies to developing new energy technologies. We focus on making our resources more dependable, more sustainable and more useful, helping to promote growth and productivity around the world. https://www.aramco.com

X: @aramco

Disclaimer
The press release contains forward-looking statements. All statements other than statements relating to historical or current facts included in the press release are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its capital expenditures and investments, major projects, upstream and downstream performance, including relative to peers. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “can have,” “likely,” “should,” “could,” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance, or achievements expressed or implied by such forward-looking statements, including the following factors: global supply, demand and price fluctuations of oil, gas and petrochemicals; global economic conditions; competition in the industries in which Saudi Aramco operates; climate change concerns, weather conditions and related impacts on the global demand for hydrocarbons and hydrocarbon-based products; risks related to Saudi Aramco’s ability to successfully meet its ESG targets, including its failure to fully meet its GHG emissions reduction targets by 2050; conditions affecting the transportation of products; operational risk and hazards common in the oil and gas, refining and petrochemicals industries; the cyclical nature of the oil and gas, refining and petrochemicals industries; political and social instability and unrest and actual or potential armed conflicts in the MENA region and other areas; natural disasters and public health pandemics or epidemics; the management of Saudi Aramco’s growth; the management of the Company’s subsidiaries, joint operations, joint ventures, associates and entities in which it holds a minority interest; Saudi Aramco’s exposure to inflation, interest rate risk and foreign exchange risk; risks related to operating in a regulated industry and changes to oil, gas, environmental or other regulations that impact the industries in which Saudi Aramco operates; legal proceedings, international trade matters, and other disputes or agreements; and other risks and uncertainties that could cause actual results to differ from the forward-looking statements in this press release, as set forth in the Company’s latest periodic reports filed with the Saudi Exchange. For additional information on the potential risks and uncertainties that could cause actual results to differ from the results predicted please see the Company’s latest periodic reports filed with the Saudi Exchange. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. The information contained in the press release, including but not limited to forward-looking statements, applies only as of the date of this press release and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the press release, including any financial data or forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law or regulation. No person should construe the press release as financial, tax or investment advice. Undue reliance should not be placed on the forward-looking statements.

Sukamal Banerjee Appointed Executive Director and Chief Executive Officer of Cyient

HYDERABAD, India, Feb. 19, 2025 /PRNewswire/ — Cyient Limited, a global Intelligent Engineering solutions company, today announced the appointment of Sukamal Banerjee as Executive Director and Chief Executive Officer of its DET business, effective February 19, 2025. He will also serve on the Board of Directors of Cyient Limited.

Sukamal is an accomplished professional and an acknowledged leader in the ER&D and Technology sector with over 30 years of experience. He spent most of his career in HCL Technologies, culminating in the role of Corporate Vice President responsible for engineering business. Most recently, Sukamal was the CEO and Member of the Board of Xoriant, a leading digital engineering company.

Sukamal has established and grown business lines and created market-leading business partnerships for global accounts with an engineering and technology focus. These include areas like Digital Industry 4.0, and AI/ML across sectors spanning Communications, Semiconductor, Energy, and Transportation, Automotive & Mobility, and Healthcare & Life Sciences, which align well with Cyient’s major customer segments. Sukamal brings thought leadership in transitioning industries across technological changes and building global capabilities across geographies.

Commenting on the appointment, MM Murugappan, Chairman, Cyient, said, “I am delighted with the appointment of Sukamal as the next CEO to drive the DET business. Sukamal is a values-based leader whose experience and leadership in the ER&D and Technology sector will help Cyient tremendously as we strengthen the organization to deliver the next phase of accelerated growth. I am confident that under Sukamal’s leadership, Cyient DET will be poised to be a leading technology-led intelligent engineering solutions organization delivering to the expectations of our Clients, Associates, and Shareholders.”

Welcoming Sukamal to Cyient, Executive Vice-Chairman and Managing Director of Cyient, Krishna Bodanapu said, “I am excited to be partnering with Sukamal to deliver on our brand promise of Designing Tomorrow Together. As Cyient continues to strengthen our core engineering offerings and to build technology-led intelligent engineering solutions, Sukamal will lead Cyient DET through a transformative phase of growth. Sukamal’s proven leadership in the ER&D and Technology services sector will tremendously benefit Cyient as we deliver on our commitment to accelerated growth.”

On his appointment, Sukamal Banerjee, Executive Director and Chief Executive Officer, Cyient said, “The ER&D sector is set to drive transformative change over the next decade as engineering and technology innovations redefine the future of products, plants, and networks. In this dynamic landscape, Cyient stands out as a leader in the ER&D sector, powered by its deep-rooted multi-vertical expertise. Leading a team of 16,000+ passionate Cyientists is an honor and a responsibility I embrace with commitment. Together, we will push boundaries, set new benchmarks, and elevate Cyient to reach newer heights and milestones.”

About Cyient
Cyient (Estd: 1991, NSE: CYIENT) delivers intelligent engineering solutions across products, plants, and networks for over 300 global customers, including 30% of the top 100 global innovators. As a company, Cyient is committed to designing a culturally inclusive, socially responsible, and environmentally sustainable tomorrow together with our stakeholders.

For more information, please visit www.cyient.com
Follow news about the company at @Cyient

Gowtham Uyalla
Kaizzen PR
+91 99892 22959
gowtham.uyalla@kaizzencomm.com

Phalguna Hari jandhyala
Cyient
Phalguna.Harijandhyala@cyient.com