33.9 C
Vientiane
Thursday, May 1, 2025
spot_img
Home Blog Page 13

Singapore SMEs Hit by Record 8.47% Borrowing Costs and Shrinking Loan Access in 2024: Linkflow Capital Survey

New data shows sharp contraction in loan sizes, rising business cessations, and shifting lender dynamics as SMEs struggle with tighter financing conditions.


SINGAPORE – Media OutReach Newswire – 30 April 2025 – Singapore’s SMEs battled tighter financing conditions in 2024, with average borrowing costs rising to 8.47% per annum — the highest in recent years, even as loan sizes shrank and access to larger financing amounts dried up, according to Linkflow Capital’s latest SME Financing Accessibility Survey.

Drawing on data from over 2,216 unique users on its SME loan comparison platform, Linkflow Capital’s research reveals a stark financing environment for SMEs:

The survey also captured shifts among lenders. While local banks maintained the largest share (59%) of loan origination within Linkflow Capital’s platform, foreign banks have significantly increased their share to 26% (up from 19%). Digital banks saw their loan share decrease more than half to 8% of loan originations (down from 17% in 2023).

Beyond higher costs, SMEs encountered tighter credit access, particularly for substantial funding needs. Linkflow Capital’s data showed a sharp decline in approvals for loans above S$300,000. These larger brackets constituted only 3% of approved loans in 2024, down from 10% in 2023.

Notably, approvals for loans exceeding S$500,000 ceased entirely in the surveyed data for 2024.

“SMEs were caught in a difficult bind in 2024 – needing capital to navigate rising operational costs but facing the highest borrowing rates we’ve seen in years and finding it much harder to secure larger loan amounts required for expansion,” said Benjamin Teo, spokesperson for Linkflow Capital. “This reflects increased lender caution driven by higher SME debt servicing ratios and the unwinding of earlier government support schemes.”

Outlook: Early signs of stabilization, but risks remain
Looking ahead, early signs of rate relief are emerging. The 3-month SORA benchmark has fallen from 3.03% in January to 2.55% by April 2025. However, business lending rates are expected to adjust slowly and partially, with any reductions possibly materializing only from Q3 2025 onwards.

Policy support remains critical
The permanent raising of the SME Working Capital Loan cap to $500,000, announced in Budget 2024, provides a key buffer. Nevertheless, cashflow pressures are intensifying:

Teo concludes
:
“Given Singapore’s heavy trade exposure, with trade volumes three times GDP, SMEs remain vulnerable to external shocks like the US-China trade war. Pre-emptive financing planning and maintaining liquidity buffers will be crucial to navigating the uncertain quarters ahead.”

The full survey detailed findings and charts are available at: https://smeloan.sg/blog/2024-sme-finance-accessibility-survey/

Hashtag: #Linkflow


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

About Linkflow Capital

Founded in 2012, Linkflow Capital is a leading SME loan consultancy in Singapore. Through its loan comparison portal and advisory services, Linkflow Capital assists SMEs in navigating the financing landscape and securing funding solutions from an extensive network of banks and financial institutions.

Otis Elevator Integrates with a Delivery Robot at New Zealand Hotel

A first for Otis in New Zealand, Otis is integrating service robots with its elevators – the Otis Integrated Dispatch™ technology allows the autonomous robot to call an elevator, select destinations, and navigate without human assistance

AUCKLAND, New Zealand, April 30, 2025 /PRNewswire/ — Otis New Zealand, in collaboration with robotics provider Pudu, has integrated a service robot with an existing Otis elevator at the Sudima Hotel in Auckland City, a modern hotel located within easy walking distance of Auckland’s bustling shopping, arts, dining and entertainment precincts. Otis New Zealand is part of Otis Worldwide Corporation (NYSE: OTIS), the world’s leading elevator and escalator manufacturing, installation, and service company.

At the Sudima Hotel in Auckland, guests receive deliveries to their room from a robot that integrates seamlessly with a hotel elevator using Otis Integrated Dispatch™ technology.
At the Sudima Hotel in Auckland, guests receive deliveries to their room from a robot that integrates seamlessly with a hotel elevator using Otis Integrated Dispatch™ technology.

The robot integrates seamlessly with the hotel’s Gen2® elevator using Otis Integrated Dispatch technology, allowing the robot to place calls and enter and exit the elevator autonomously without human intervention. It helps to deliver food and beverages to guest rooms and supports other room services activities.

Otis Integrated Dispatch is an API (Application Programming Interface) solution which enables autonomous service robots to interface with Otis elevators. Otis Integrated Dispatch is intended to work with any brand or model of robot capable of using APIs. The technology is compatible with most Otis commercial elevators manufactured since the 1990s. Hospitals, hotels, commercial businesses and others are turning to service robots to enhance the customer experience, offer safe solutions and improve productivity for their employees – and Otis is making it easier for these robots to move autonomously through their buildings.

Otis Integrated Dispatch integrates autonomous service robots with Otis elevators, enabling them to communicate via the cloud to call elevators, select destinations, and navigate without human assistance
Otis Integrated Dispatch integrates autonomous service robots with Otis elevators, enabling them to communicate via the cloud to call elevators, select destinations, and navigate without human assistance

“We’re proud to announce the first example of Otis Integrated Dispatch in New Zealand,” said Rob Watson, General Manager, New Zealand and Pacific Islands. “It’s an exciting milestone that reflects Sudima Hotels’ trust in our smart elevator systems and advanced digital technologies. Otis first installed the lifts at the Sudima Auckland City hotel in 2021 and has collaborated with the hotel over the past four years to deliver innovative vertical transportation solutions that elevate the guest experience. We look forward to bringing this innovative technology to more hotels and commercial buildings across New Zealand.”

To learn more, visit the Otis Integrated Dispatch page.

About Otis

Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.4 billion people a day and maintain approximately 2.4 million customer units worldwide – the industry’s largest Service portfolio. You’ll find us in the world’s most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 44,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram and Facebook @OtisElevatorCo.

CE-LINK Unveils 1300W ATX 3.1 Fully Modular Gaming PSU Awarded 80 Plus Titanium Certification

DONGGUAN, China, April 30, 2025 /PRNewswire/ — CE-LINK is proud to announce that its latest masterpiece, the 1300W ATX 3.1 Fully Modular Gaming PSU, has officially received the 80 Plus Titanium certification, marking the company’s next step in energy efficiency and performance. Designed to meet the demands of the 3A gaming market, this innovative PSU offers gamers and creators superior reliability and efficiency.

CE-LINK 1300W FULLY MODULAR GAMING PSU with 80 PLUS TITANIUM
CE-LINK 1300W FULLY MODULAR GAMING PSU with 80 PLUS TITANIUM

High Performance and Efficiency Standards

What sets the CE-LINK 1300W PSU apart from the rest is its innovative patented topology application technology, which utilizes bridgeless PFC + full-bridge LLC + SR + D-D technology, enabling the PSU to achieve breakthroughs:

  • The voltage regulation accuracy within <2%, surpasses the <5% requirement of Intel's ATX 3.1 specification.
  • The conversion efficiency of the PSU is up to 94% at 115V, reaching the Titanium certification standard.
  • The power density of 0.634W/cm³ exceeds the industry standard products, offering an ideal balance of compact design and powerful functions.

Compliant with ATX 3.1 & PCIe CEM 5.1 Standards

Supports up to 2x total power offset and 3x GPU power offset, meeting the peak demands of next-generation GPUs and CPUs.

High Level of Ripple Control

The PSU keeps ripple levels below 30mV on the +12V, +5V, and +3.3V rails, ensuring stable hardware operation even under high loads.

Modular Cable Design

The fully modular design lets users choose the right cable for their configuration, simplifying cable management. It also keeps the inside of the mainframe chassis tidy and improves heat dissipation efficiency.

Comprehensive Protection Mechanisms

The PSU has several built-in protection mechanisms, including over-voltage, under-voltage, over-current, over-power, short-circuit, and over-temperature protection, to ensure the system can always operate safely and stably.

Ideal for High-Performance Applications

  • Gaming: Powers cutting-edge GPUs and CPUs for seamless 3A gaming experiences.
  • Content Creation: Delivers stability and reliability for demanding tasks such as video editing, rendering, and 3D modeling.

Whether driving the latest multi-GPU setups or managing power-hungry workloads, CE-LIN’s 1300W ATX 3.1 fully modular gaming PSU offers flexibility and scalability for a variety of application scenarios.

Committed to Innovation and Sustainability

“We are pleased that this 1300W ATX 3.1 fully modular gaming PSU has been awarded the 80 Plus Titanium certification,” said Wesely, Product Manager at CE-LINK. “This certification not only recognizes our technological advancements and energy efficiency but also our commitment to environmental sustainability.”

About CE-LINK

Founded in 2004, CE-LINK has grown steadily over time to become a pioneer in power and connectivity solutions for the consumer electronics industry, dedicated to providing high-performance solutions for gaming, content creation, etc. CE-LINK adheres to the concepts of innovation and sustainability, providing customers with reliable, forward-thinking technologies that are adapted to the ever-evolving nature of modern computing needs.

Media Contacts
CE-LINK
Contact: market@ce-link.com
Website: www.ce-link.com
LinkedIn: www.linkedin.com/company/ce-link
Facebook: www.facebook.com/CELINK.ELECTRONICS

INLIF LIMITED Reports Fiscal Year 2024 Financial Results

QUANZHOU, China, April 30, 2025 /PRNewswire/ — INLIF LIMITED (Nasdaq: INLF) (the “Company” or “INLIF”), a company engaged in the research, development, manufacturing, and sales of injection molding machine-dedicated manipulator arms, today announced its financial results for the year ended December 31, 2024.

Mr. Rongjun Xu, the chief executive officer of INLIF, remarked, “We are thrilled to report the performance for fiscal year 2024, with growth recorded across revenue, gross profit, and net income. This success was fueled by sustained demand from existing clients and new customers acquired through our strategic marketing initiatives. Our strategic expansion also played a pivotal role in driving sales growth and penetrating new sectors and emerging markets. These combined efforts resulted in a 25.26% year-over-year increase in revenue. As sales increased, our gross margin declined slightly to 28.83%, which contributed to a 9.49% increase in gross profit, highlighting our profitability and effective cost control measures.

“In preparation for our Nasdaq listing and to unlock greater opportunities in new markets, we launched proactive marketing campaigns and offered attractive incentive commissions to enhance brand recognition and order acquisition. These efforts included participation in exhibitions across China and exploration of overseas markets, particularly in Southeast Asia and India. Meanwhile, we have supported our revenue growth with only a moderate increase in operational costs. We continued to invest in research and development, and we plan to accelerate the acquisition of talents, patents, and technologies to meet the evolving and diversifying needs of the market.

“Thanks to the outstanding efforts of our team and the strong execution of our strategic initiatives, net income rose by 18.78% during our first financial report post-listing. Looking ahead, we anticipate opportunities for continued growth and development, supported by the enhanced visibility and access to capital provided by our Nasdaq listing. In addition, the rise of emerging technology innovations and the increasing adoption of automation infrastructure are expected to significantly accelerate growth in the manipulator arms industry. We are confident that our proactive and pragmatic business strategies will place us on a sustainable and thriving path, delivering long-term value to the Company and our shareholders.”

Fiscal Year 2024 Financial Highlights 

  • Net revenue was $15.80 million for fiscal year 2024, representing an increase of 25.26% from $12.61 million for fiscal year 2023.
  • Gross profit was $4.55 million for fiscal year 2024, representing an increase of 9.49% from $4.16 million for fiscal year 2023.
  • Gross profit margin was 28.83% for fiscal year 2024, compared to 32.98% for fiscal year 2023.
  • Net income was $1.61 million for fiscal year 2024, representing an increase of 18.78% from $1.35 million for fiscal year 2023.
  • Basic and diluted earnings per share were $0.13 for fiscal year 2024, compared to $0.11 for fiscal year 2023.

Fiscal Year 2024 Financial Results 

Net Revenue

Net revenue was $15.80 million for fiscal year 2024, representing an increase of 25.26% from $12.61 million for fiscal year 2023. The increase was primarily attributable to (i) an increase in sales of manipulator arms, including installation and warranty services, by approximately $0.51 million; (ii) an increase in sales of manipulator arms accessories by approximately $0.44 million; (iii) an increase in sales of raw materials and scraps by approximately $2.27 million; and (iv) a decrease in sales of installation services by approximately $0.04 million.

  • Sales of manipulator arms and installation and warranty services were $10.33 million for fiscal year 2024, representing an increase of 5.23% from $9.82 million for fiscal year 2023.
  • Sales of accessories were $1.44 million for fiscal year 2024, representing an increase of 44.08% from $1.00 million for fiscal year 2023.
  • Sales of raw materials and scraps were $3.93 million for fiscal year 2024, representing an increase of 136.61% from $1.66 million for fiscal year 2023.
  • Sales of installation services were $95,442 for fiscal year 2024, representing a decrease of 29.14% from $134,697 for fiscal year 2023.

Cost of Revenue

Cost of revenue was $11.24 million for fiscal year 2024, representing an increase of 33.03% from $8.45 million for fiscal year 2023. The increase was primarily attributable to the Company’s business growth and an increase in sales resulting in an increase in costs accordingly.

Gross Profit and Gross Profit Margin

Gross profit was $4.55 million for fiscal year 2024, representing an increase of 9.49% from $4.16 million for fiscal year 2023. The increase mainly due to (i) an increase in gross profit from sales of manipulator arms, including installation and warranty services, by approximately $0.47 million; (ii) a decrease in gross profit from sales of manipulator arms accessories by approximately $0.11 million; (iii) an increase in gross profit from sales of raw materials and scraps by approximately $0.06 million; and (iv) a decrease in gross profit from sales of installation services by approximately $0.03 million.

Gross profit margin was 28.83% for fiscal year 2024, compared to 32.98% for fiscal year 2023.

Operating Expenses

Operating expenses were $3.27 million for fiscal year 2024, representing an increase of 17.74% from $2.77 million for fiscal year 2023.

  • Selling expenses were $0.94 million for fiscal year 2024, representing an increase of 36.46% from $0.69 million for fiscal year 2023. The increase was mainly due to (i) an increase in exhibition expenses by approximately $0.12 million, resulting from participation in an additional four exhibitions across four cities in China in 2024; (ii) an increase in salary by approximately $0.12 million, as the growth in revenue has led to higher commissions for sales personnel, alongside the addition of three sales representatives in 2024 compared to 2023; and (iii) an increase in transportation fees by approximately $0.19 million, due to increase of sales to customers from other provinces, such as Guangdong, Zhejiang, and Jiangsu, resulting in a rise in related transportation costs.
  • General and administrative expenses were $0.76 million for fiscal year 2024, representing an increase of 5.58% from $0.72 million for fiscal year 2023. The increase was mainly due to an increase in consulting fees for external public relations and internal control.
  • Research and development expenses were $1.56 million for fiscal year 2024, representing an increase of 14.76% from $1.36 million for the same period of last year. The increase was primarily attributable to increased investment in research and corresponding material consumption to enhance the quality and performance of manipulator arms.

Net Income

Net income was $1.61 million for fiscal year 2024, representing an increase of 18.78% from $1.35 million for fiscal year 2023.

Basic and Diluted Earnings per Share

Basic and diluted earnings per share were $0.13 for fiscal year 2024, compared to $0.11 for fiscal year 2023.

Financial Condition

As of December 31, 2024, the Company had cash and cash equivalents of $2.47 million, compared to $0.60 million as of December 31, 2023.

Net cash provided by operating activities was $1.58 million for fiscal year 2024, compared to $0.40 million for fiscal year 2023.

Net cash provided by investing activities was $0.32 million for fiscal year 2024, compared to net cash used in investing activities of $0.22 million for fiscal year 2023.

Net cash provided by financing activities was $0.22 million for fiscal year 2024, compared to $0.46 million for fiscal year 2023.

Recent Development

On January 3, 2025, the Company completed its initial public offering of 2,000,000 ordinary shares at a public offering price of US$4.00 per share. The Company’s ordinary shares began trading on the Nasdaq Capital Market on January 2, 2025, under the ticker symbol “INLF.”

About INLIF LIMITED

Through its operating entity in the People’s Republic of China, Ewatt Robot Equipment Co. Ltd., established in September 2016, INLIF is engaged in the research, development, manufacturing, and sales of injection molding machine-dedicated manipulator arms. It is also a provider of installation services and warranty services for manipulator arms, and accessories and raw materials for manipulator arms. The Company produces an extensive portfolio of injection molding machine-dedicated manipulator arms, including transverse single and double-axis manipulator arms, transverse and longitudinal multi-axis manipulator arms, and large bullhead multi-axis manipulator arms, all developed by itself. For more information, please visit the Company’s website: https://ir.yiwate88.com/.

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. 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. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the “Risk Factors” section of the registration statement filed with the U.S. Securities and Exchange Commission (the “SEC“). 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, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov.

For investor and media inquiries, please contact:

INLIF LIMITED
Investor Relations Department
Email: ir@yiwate88.com

Ascent Investor Relations LLC

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

 

INLIF LIMITED

CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. Dollars, except for the number of shares)

As of 
December 31, 
2024

As of 
December 31, 
2023

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

2,467,638

$

598,933

Accounts receivable, net

3,840,120

3,789,214

Inventories

5,300,458

4,493,042

Deferred offering costs, current

1,482,558

Prepayments and other current assets

159,570

142,095

Amounts due from related parties

1,030

352,118

TOTAL CURRENT ASSETS

$

13,251,374

$

9,375,402

NON-CURRENT ASSETS:

Property, plant, and equipment, net

$

3,037,312

$

3,397,167

Land-use rights, net

2,130,164

2,237,684

Intangible assets, net

43,773

50,297

Deferred offering costs, non-current

960,241

Deferred tax assets

5,169

452

TOTAL NON-CURRENT ASSETS

$

5,216,418

$

6,645,841

TOTAL ASSETS

$

18,467,792

$

16,021,243

LIABILITIES

CURRENT LIABILITIES:

Accounts payable

$

3,132,613

$

2,546,418

Bank loans

4,630,581

3,662,023

Contract liabilities

1,712

65,073

Accrued expenses and other payables

222,247

259,648

Income taxes payable

27,337

12,058

Amounts due to related parties

186,768

513,018

TOTAL CURRENT LIABILITIES

$

8,201,258

$

7,058,238

TOTAL LIABILITIES

$

8,201,258

$

7,058,238

COMMITMENTS AND CONTINGENCIES (NOTE 19)

SHAREHOLDERS’ EQUITY

Ordinary shares ($0.0001 par value, 500,000,000 shares authorized, 12,500,000
     shares issued and outstanding as of December 31, 2024 and 2023)*

$

1,250

$

1,250

Additional paid-in capital

7,037,503

7,037,503

Statutory reserve

361,083

200,229

Retained earnings

3,201,818

1,756,183

Accumulated other comprehensive loss

(335,120)

(32,160)

TOTAL SHAREHOLDERS’ EQUITY

$

10,266,534

$

8,963,005

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$

18,467,792

$

16,021,243

*     The share amounts are presented on a retrospective basis.

 

INLIF LIMITED

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(Expressed in U.S. Dollars, except for the number of shares)

Years ended December 31,

2024

2023

2022

Revenues

15,796,983

12,610,873

6,652,308

Cost of revenues

(11,242,817)

(8,451,336)

(4,358,426)

Gross profit

4,554,166

4,159,537

2,293,882

Operating expenses:

Selling expenses

(938,941)

(688,064)

(396,421)

General and administrative expenses

(764,530)

(724,147)

(742,620)

Research and development expenses

(1,563,059)

(1,362,058)

(504,711)

Total operating expenses

(3,266,530)

(2,774,269)

(1,643,752)

Operating income

1,287,636

1,385,268

650,130

Other income (expenses):

Interest income

3,274

6,884

2,625

Interest expenses

(196,304)

(146,386)

(82,672)

Other income, net

531,198

110,159

15,010

Other expense, net

(8,370)

(17,410)

(44,274)

Exchange gain (loss)

3,893

25,344

(3,687)

Total other income (expenses), net

333,691

(21,409)

(112,998)

Income before income tax

1,621,327

1,363,859

537,132

Income tax (expenses) benefits

(14,838)

(11,348)

423

Net income

1,606,489

1,352,511

537,555

Comprehensive income

Net income

1,606,489

1,352,511

537,555

Foreign currency translation adjustments, net of tax

(302,960)

(227,278)

187,942

Comprehensive income

1,303,529

1,125,233

725,497

Earnings per share, basic and diluted

0.13

0.11

0.04

Weighted average number of shares*

12,500,000

12,500,000

12,500,000

*     The share amounts are presented on a retrospective basis.

 

INLIF LIMITED

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in U.S. Dollars, except for the number of shares)

For the years ended

December 31,

2024

2023

2022

Cash flows from operating activities:

Net income

1,606,489

1,352,511

537,555

Adjustments to reconcile net income (loss) to net cash used in operating 
     activities:

Depreciation and amortization

347,977

367,029

388,233

Allowance for (reversal of) credit losses

(154)

(19,930)

15,975

Loss on disposal of property, plant, and equipment

5,432

Deferred tax assets

(423)

Changes in operating assets and liabilities:

Accounts receivable

(50,752)

(1,552,991)

(716,876)

Intangible assets

(53,086)

Inventories

(807,416)

(2,025,725)

1,093,218

Prepayments and other current assets

(17,474)

94,160

170,093

Accounts payable, trade

586,195

2,057,775

(103,240)

Contract liabilities

(63,361)

65,073

(137,699)

Other payables and accrued liabilities

(37,401)

98,485

(7,507)

Tax payable

15,279

11,505

(301)

Net cash provided by operating activities

1,579,382

400,238

1,239,028

Cash flows from investing activities:

Purchase of property, plant, and equipment

(25,759)

(219,121)

(18,165)

Disposal of property, plant, and equipment

989

Amount loan to related parties

(1,025)

Proceeds from repayment by related parties

347,428

Net cash provided by (used in) investing activities

320,644

(218,132)

(18,165)

Cash flows from financing activities:

Capital Contributions

6,760,538

Proceeds from short-term loans

7,143,130

3,671,841

2,526,378

Repayment of short-term loans

(6,059,153)

(2,400,819)

(1,486,105)

Deferred offering costs

(522,318)

(919,207)

(42,060)

Amount financed from related parties

181,116

977,418

515,678

Amount repaid to related parties

(518,379)

(865,770)

(9,993,772)

Net cash provided by (used in) financing activities

224,396

463,463

(1,719,343)

Effect of exchange rate changes

(255,717)

(131,597)

397,892

Net increase (decrease) in cash

1,868,705

513,972

(100,588)

Cash and cash equivalents at beginning of the year

598,933

84,961

185,549

Cash and cash equivalents at end of the year

2,467,638

598,933

84,961

Supplemental disclosures of cash flows information:

Cash paid for income taxes

1,707

475

303

Cash paid for interest expense

191,859

143,727

82,672

 

Appian Celebrates 2025 Innovation Award Winners

Customers Delivered Value with Process Orchestration and AI Capabilities on the Appian Platform

SYDNEY, April 30, 2025 /PRNewswire/ — Appian (Nasdaq: APPN) today announced the 2025 Appian Innovation Awards winners at Appian World, its annual global conference. The Innovation Awards celebrate customers for creating transformative applications that drive impact and value on the Appian Platform. By embedding AI agents and generative AI in process orchestration, these winners have demonstrated that process, combined with AI, drives powerful digital transformation. 

By embedding AI agents and generative AI in process orchestration, these winners have demonstrated that process, combined with AI, drives powerful digital transformation.
By embedding AI agents and generative AI in process orchestration, these winners have demonstrated that process, combined with AI, drives powerful digital transformation.

“Congratulations to this year’s Innovation Award winners for showcasing the transformative power of AI and intelligent process orchestration on the Appian Platform,” Neil Ward-Dutton, VP of AI, Automation and Analytics at IDC Europe. “GenAI, along with broader AI innovations, is reshaping automation to redefine how organizations operate, innovate, and deliver value at scale. These winning initiatives demonstrate what’s possible when advanced AI is orchestrated with modern process platforms.”

Asia-Pacific and Japan Winners
Ramsay Health Care : A leading Australian private healthcare provider is redefining patient care delivery. Ramsay used the Appian Platform to deploy multiple applications to over 150,000 users in under 16 months. The “Ramsay Health Hub” supports patients in over 35 hospitals to digitally process 150,000+ pre-admissions with a 25% increase in adoption rates. The “Patient Tracking” app has an adoption rate of over 80%, while reducing admin tasks and calls to hospitals by up to 50%. “Revenue Cycle Management” recovered $30 million with workflow and task automation. Ramsay’s innovation has been recognized with the CIO50 Team of the Year award, setting a new benchmark in healthcare delivery.

Westpac Banking Corporation : The bank is utilising generative AI across different areas of the business  to make it easier for their people to deliver better and faster results for customers. Westpac recently launched its Mortgage Assessor AI solution, which uses the Appian platform, and is helping mortgage assessors to support brokers, reducing the time to assess loans and speeding up approval times.

North America Winners
Gordon Food Service (GFS) : A $23B+ food distributor leveraged Appian as an innovation layer on top of its SAP C/4 implementation to improve the customer ordering process.  By leveraging AI to help predict client purchasing patterns with up to 97% accuracy, they were able to reduce order entry time by up to 70%. This “Order Builder” application built on the Appian Platform supports over 1,500 sales reps.  In addition, they leveraged similar AI capabilities for complex customer quotes and reduced creation time from days to 1-3 hours. This “Quote Builder” app helped GFS produce 40% more quotes which led to higher sales productivity and a superior customer experience.

MagMutual : One of the largest mutual insurers in the U.S. wants to deliver a seamless digital experience for employees and customers. Besides automating operational processes and integrating with systems on the Appian Platform, the new solutions include AI-powered intelligent claims and document processing. The “Online Quoting” solution reduced turnaround times by 30%, allowing policyholders to receive faster and more accurate quotes. The “Claims Submission and Auto Determination” features cut processing times by 25%, leading to quicker resolutions. In addition, these innovations led to a 20% increase in employee productivity and a 15% boost in customer satisfaction.

Regeneron : A leading biotechnology firm has created a cutting-edge clinical trial feasibility platform. Using multiple Appian capabilities, this technology delivers an innovative solution that integrates functional domain expertise, advanced business process management, and AI-driven intelligent search capabilities. By leveraging Regeneron’s Operational Data Lake along with Appian’s Data Fabric, low-code design, and workflow technologies, the solution seamlessly amalgamates data from more than 10 different internal and external sources, offering users the ability to view information in graphical and tabular formats. While empowering users with intelligent search and filtering capabilities, this solution facilitates highly informed decision-making to ultimately accelerate clinical trials and reduce costs. Subsequently, a 50% reduction in the time to query data sources and create outputs has been achieved.

EMEA and LATAM Winners
Novartis Seeks to streamline clinical trial operations and accelerate the delivery of life-saving treatments to potentially millions of patients in a highly regulated environment. The team deployed a process orchestration layer on Appian that connected over 15 core systems and unified clinical trial operations data through a data fabric. Besides reducing manual data entry, the system features simplified navigation to improve user engagement. Automated tasks and processes reduced errors and improved compliance. As a result, over 10,000 Novartis professionals now benefit from improved productivity and quicker decision-making, bringing critical medicines to patients faster.

Towerbank International : As a trusted Latin American bank for over 50 years, Towerbank has embraced rising crypto demand to serve customers better. To improve their onboarding process and service their growing clientele, they launched “Ikigii” on the Appian Platform — one of the first platforms combining crypto and traditional banking. The bank built a new customer application in two months, reducing onboarding time from up to seven hours to under two by automating 96% of processes. Since its launch, Towerbank has onboarded 3,000+ clients and processed $30 million in crypto-to-fiat transactions. This shift boosted efficiency and positioned Towerbank as a leader in modern, secure banking.

Global Public Sector Winner
Idaho Workforce Development Council  (WDC): WDC partnered with Ignyte to create a new system for Governor Brad Little’s signature LAUNCH grant program, which equips Idahoans with in-demand skills while keeping jobs within the state. The team rapidly delivered a human-centered solution on the Appian Platform with data integration to automate eligibility verification, with AI capabilities planned for the next phase. In just six months, it enabled over 14,000 students to receive nearly $40 million in aid, saving the agency the equivalent of three full-time staff members. This initiative stands as a model for digital transformation in government, helping build a resilient, future-ready workforce in Idaho.

“Our customers are setting a new standard for what’s possible with AI and process orchestration,” said Pavel Zamudio, Chief Customer Officer at Appian. “These Innovation Award winners are not only transforming their operations. They are creating meaningful, measurable impact for their employees and customers. We’re proud to partner with organizations that share our vision of using technology to deliver real-world value at scale.”

Discover how organisations  use Appian to revolutionize their customer experience and transform their business operations: ap.pn/42whY2z.

About Appian

Appian is The Process Company. We deliver a software platform that helps organizations 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)

Photo – https://laotiantimes.com/wp-content/uploads/2025/04/ev_aw25_innovation_awards.jpg
Logo – https://laotiantimes.com/wp-content/uploads/2025/04/appian_400px_blank_logo-2.jpg

UNLIMEAT Rolls Out Its Bold Korean Plant-Based Meats at Kroger

  • The innovative Korean brand introduces its plant-based Bulgogi and Pulled Pork to over 300 Kroger stores nationwide
  • With demand for Korean flavors at an all-time high, UNLIMEAT brings authentic taste and sustainability to mainstream grocery aisles 

LOS ANGELES, April 30, 2025 /PRNewswire/ — Korean cuisine is experiencing unprecedented growth across the United States. According to a September 2024 report by Circana, a leading consumer behavior analytics firm, Korean restaurant locations in the U.S. increased by 10% over the past year. In a historic milestone, Jungsik in New York City became the first Korean restaurant in the U.S. to earn three Michelin stars. In total, 16 Korean restaurants nationwide have earned at least one Michelin star — the highest number to date — reflecting the growing recognition of Korean culinary excellence. Meanwhile, Korean food-related hashtags have surpassed 15 billion views on TikTok, signaling mainstream fascination with K-cuisine across digital and cultural platforms.

Building on this cultural momentum, UNLIMEAT, an innovative Korean plant-based meat brand, is expanding its market presence with the rollout of two flagship products — Korean BBQ Bulgogi and Pulled Pork Original — to more than 300 Kroger-affiliated stores nationwide. These products will be available in divisions including Ralphs, Fred Meyer, King Soopers, and Smith’s, bringing authentic Korean flavors to the mainstream freezer aisle.

Founded in Seoul, UNLIMEAT is rooted in sustainability and culinary innovation. The brand transforms surplus grains and legumes into clean-label, flavorful meat alternatives that are 100% vegan and non-GMO. Designed for easy preparation, its products offer a convenient and delicious way to enjoy the bold, savory essence of Korean cuisine — without compromising on health or environmental impact. The company is now expanding its lineup to include a wider range of Korean-inspired ready-to-eat meals featuring its signature plant-based proteins.

UNLIMEAT Products - Korean BBQ Bulgogi, Pulled Pork Original
UNLIMEAT Products – Korean BBQ Bulgogi, Pulled Pork Original

  • Korean BBQ Bulgogi: A sweet and savory classic, this plant-based version is marinated in a soy garlic sauce, ideal for stir-fries, bowls, salads, or lettuce wraps.
  • Pulled Pork Original: Juicy and tender with a satisfying bite, this versatile protein is perfect for tacos, sliders, or Korean-fusion dishes.

While headlines often suggest a slowdown in the plant-based market, UNLIMEAT continues to grow steadily thanks to strong customer support. “We’re excited to bring the bold flavors of Korean cuisine to a broader audience through our partnership with Kroger,” said a UNLIMEAT spokesperson. “Our mission is to make the healthy appeal of Korean cuisine more accessible to American tables, while delivering a balanced complete Korean meal experience — all through the lens of sustainable, plant-based innovation.”

As the largest supermarket chain in the U.S., Kroger continues to expand its plant-based offerings to meet evolving consumer preferences. The addition of UNLIMEAT’s products provides shoppers with globally inspired choices that align with modern dietary trends and growing cultural curiosity. UNLIMEAT’s Korean BBQ Bulgogi and Pulled Pork Original will be available in Kroger-affiliated stores starting in May.

Appian Customers Unlock AI’s Full Potential by Embedding It in Business Processes

DENVER, April 30, 2025 /PRNewswire/ — Appian (Nasdaq: APPN) is giving customers the power to have AI work directly in their business processes. As the Process Company, Appian believes better processes are the key to better business outcomes. AI makes the most impact when it operates within business processes, gaining purpose, governance, and accountability.

Appian customers, including Acclaim Autism, Century Fire Protection, Hitachi, the Texas Department of Public Safety, and the University of South Florida, are seeing transformative outcomes from this process-first approach.
Appian customers, including Acclaim Autism, Century Fire Protection, Hitachi, the Texas Department of Public Safety, and the University of South Florida, are seeing transformative outcomes from this process-first approach.

Appian’s customer AI adoption has increased 7.9x year-over-year to process more items through AI-powered document extraction. Additionally, 70% of Appian Cloud customers are already using AI — from AI assistance in process modeling to AI agents in advanced, integrated applications.

The latest product release lets customers embed AI in any interface to power their processes from within. Appian customers, including Acclaim Autism, Century Fire Protection, Hitachi, the Texas Department of Public Safety, and the University of South Florida, are seeing transformative outcomes from this process-first approach.

Acclaim Autism  treats children with Autism Spectrum Disorder. Their manual intake process left patients waiting up to six months for care. With Appian, they cut intake time by 83%. Acclaim Autism implemented Appian AI in just three weeks to extract diagnosis information from unstructured medical documents, ensuring accurate medical information is reflected to guarantee compliance and expedite the intake process. And because of Appian’s private AI approach, they remain compliant with HIPAA and other privacy standards. Now, they are delivering faster care to patients in need.

Century Fire Protection had a team of people manually processing over thousands of invoices and order acknowledgements, causing them to frequently miss early payment discounts. Appian’s Customer Success team built an accounts payable application that uses Appian AI to automatically classify documents and extract data. This new approach cut invoice processing time by 36% and reduced missed discounts by 50%.

As a multinational company with a diverse portfolio spanning digital systems, power, healthcare, and more, Hitachi recognized opportunities to optimize its internal processes. To further enhance data consolidation, cross-sell visibility, and the creation of compelling sales proposals, Hitachi partnered with Appian. Through this partnership, Hitachi ensures that their AI receives high-quality data while unifying systems, automating pipelines, and accelerating application development. The program is expected to achieve a 20% reduction in operating expenses, a 60% improvement in time-to-market, and increased sales productivity—modernizing sales operations through data informed by AI and process automation.

The Texas Department of Public Safety  deployed a generative AI chatbot to streamline its procurement process. The Appian chatbot taps into internal data to give procurement officials instant access to regulatory information and guidance on state contracting procedures. By putting comprehensive procurement data at the fingertips of over 10,000 stakeholders, Appian AI gives the Texas DPS the efficiency it needs to serve the community.

The University of South Florida (USF)  academic advisors use Appian AI to give students faster, more personalized support. Advisors query USF’s data fabric through a generative AI chatbot that answers questions about student cases and generates meeting agendas, action plans, and follow-up emails. Appian AI saves advisors time in preparing for each 30-minute meeting, so they get that time back to connect with students. USF deployed Appian in under two months to advisors serving up to 50,000 students a year.

“AI is most powerful when it’s embedded within processes, not operating in isolation,” said Randy Guard, Chief Marketing Officer, Appian. “Our customers are proving that embedding AI agents within processes optimizes operations, enhances accuracy, and accelerates outcomes—unlocking AI’s full potential in a governed, accountable way.”

Process is more powerful with AI and AI is more powerful in a process. Learn more about how Appian customers are putting AI to work and driving process transformation.

About Appian

Appian is The Process Company. We deliver a software platform that helps organizations 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)

Photo – https://laotiantimes.com/wp-content/uploads/2025/04/appian_customers_unlock_ai_full_potential_by_embedding_it.jpg
Logo – https://laotiantimes.com/wp-content/uploads/2025/04/appian_400px_blank_logo-1.jpg

Innovent Announces First Patient Dosed in Phase 1 Study of IBI3020, Global First-in-class Dual Payload CEACAM5 ADC, in Patients with Advanced Malignancies

SAN FRANCISCO and SUZHOU, China, April 30, 2025 /PRNewswire/ — Innovent Biologics, Inc. (“Innovent”) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures, and commercializes high-quality medicines for the treatment of oncology, autoimmune, metabolic, ophthalmology and other major diseases, announced completion of the first patient dosing for IBI3020, its first-in-class dual-payload CEACAM5 ADC, in Phase 1 clinical trial for the treatment of patients with advanced solid tumors. IBI3020 is the first dual-payload ADC developed from Innovent’s proprietary DuetTx® dual-payload ADC platform and the first dual-payload ADC globally known in the same class to complete the first-in-human dosing.

The study is an open-label, multi-regional Phase 1 study evaluating the safety, tolerability, and preliminary efficacy of IBI3020 in participants with advanced solid tumors, as well as determining the recommended Phase 2 dose (RP2D). The study has received IND approval in the U.S. recently and will be conducted in both China and the U.S.

As a global first-in-class ADC candidate, IBI3020 is generated from Innovent’s proprietary DuetTx® dual-payload ADC platform. The internationalization of the CEACAM5-dependent ADC occurs after IBI3020 selectively binds to CEACAM5-expressing tumor cells, followed by lysosomal degradation. This process releases two types of cytotoxic payloads, leading to cell killing of tumor cells.

In preclinical studies, IBI3020 has demonstrated robust antitumor activity across various tumor-bearing pharmacology models, with a notable bystander killing effect. Additionally, IBI3020 has shown favorable safety characteristics in preclinical models, with an overall manageable safety profile.

Professor Yu Jinming, Shandong Cancer Hospital, stated:” Carcinoembryonic antigen (CEA), also known as CEACAM5, is a glycosylphosphatidylinositol-anchored cell-surface glycoprotein involved in cell adhesion, invasion, and metastasis of cancer cells. There is a significant clinical need for effective therapies in advanced colorectal cancer, non-squamous lung cancer, gastric cancer, pancreatic cancer, and others. CEACAM5 is overexpressed in these solid tumors but shows limited expression in healthy tissues, making it a potentially safe and promising therapeutic target. The dual payload of IBI3020 consists of two types of payloads that have been clinically validated. This dual-payload design has demonstrated enhanced tumor-killing effects in preclinical studies. We look forward to observing the clinical profiles and potential breakthrough of IBI3020 in terms of safety, tolerability, and efficacy in clinical trials.”

Dr. Hui Zhou, Senior Vice President of Innovent, stated: “We are pleased to announce the successful dosing of the first patient dose with IBI3020. We will continue to advance the global development of IBI3020, aiming to offer better treatment options for patients with advanced solid tumors. Innovent possesses innovative ADC technology platforms with independent intellectual property rights. Multiple ADC molecules have clinically validated their differentiated competitiveness. IBI3020, Innovent’s first dual-payload ADC, has successfully entered clinical trials and is the first dual-payload ADC globally known in the same class to complete the first-in-human dosing, marking a breakthrough in Innovent’s ADC technology. We will continue our “IO+ADC” strategy, focusing on next-generation innovations with global potential to benefit cancer patients worldwide.”

About IBI3020

IBI3020 is a global first-in-class ADC candidate developed from Innovent’s proprietary DuetTx® dual-payload ADC platform. The CEACAM5 dependent ADC internalization occurs after IBI3020 selectively binds to the CEACAM5-expressing tumor cells, followed by the lysosomal degradation. This process releases two types of cytotoxic payloads, leading to tumor cell killing.

The multi-regional Phase 1 study of IBI3020, initiated in China, assesses the safety, tolerability, and preliminary efficacy of IBI3020 in patients with advanced solid tumors and aims to determine the recommended Phase 2 dose (RP2D). The study has also received IND approval in the U.S. recently and will be conducted in China and the U.S.

About Innovent

Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 15 products in the market. It has 3 new drug applications under regulatory review, 3 assets in Phase III or pivotal clinical trials and 16 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Sanofi, Incyte, Adimab, LG Chem and MD Anderson Cancer Center.

Guided by the motto, “Start with Integrity, Succeed through Action,” Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn.

Statement: (1) Innovent does not recommend the use of any unapproved drug (s)/indication (s).

( 2) Ramucirumab (Cyramza) and Selpercatinib (Retsevmo) and Pirtobrutinib (Jaypirca) were developed by Eli Lilly and Company.

Forward-Looking Statements

This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to Innovent, are intended to identify certain of such forward-looking statements. Innovent does not intend to update these forward-looking statements regularly.

These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Innovent with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent’s control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Innovent’s competitive environment and political, economic, legal and social conditions.

Innovent, the Directors and the employees of Innovent assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialize or turn out to be incorrect.